Topic: Should countries accept coins at governmental level? - page 2. (Read 288 times)
If a country prefered to be pioneer to accept certain coins and let companies which are from different sectors to use these coins, positive effects of this decision could override. Because foreign investments to this countries will increase and foreign nationals will also benefit from the products and services offered by these companies to provide additional income for this country.
At present I don't think that might be done at a widely accepted level. Maybe in the future everything will be different. This will be an interesting change to accept, but they must have a very good reason to do it.
Forget that.
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
There are some countries that don't have their own national currency, and are in fact using someone else's. Panama, Ecuador and Zimbawe use the USD. In those countries they have already lost any control, in fact its worse because they are tied to the whims of the actual controller. At least with a crypto like bitcoin, no one is. The other temptation is to issue their own. which of course could be abused to no end like a traditional fiat.
So yes, they should accept it. They could have dual fiat/and crypto for a transitional period; but that also means abandoning the school of chicago or other economy schools that stimulate debt and inflation. And that is probably the biggest obstacle.
Bigger obstacle to a BTC peg would be the extreme volatility of their national currency versus rest of the world. This would be bad for an third world country.
Forget that.
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
There are some countries that don't have their own national currency, and are in fact using someone else's. Panama, Ecuador and Zimbawe use the USD. In those countries they have already lost any control, in fact its worse because they are tied to the whims of the actual controller. At least with a crypto like bitcoin, no one is. The other temptation is to issue their own. which of course could be abused to no end like a traditional fiat.
So yes, they should accept it. They could have dual fiat/and crypto for a transitional period; but that also means abandoning the school of chicago or other economy schools that stimulate debt and inflation. And that is probably the biggest obstacle.
How do you think should countries link Bitcoin and other currencies to their major industries?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
If government really do that, it will be good for crypto. But maybe we can see it for long time in future or maybe like people said, it is only in dream that government will fully accept and adopted crypto in their country. And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
How do you think should countries link Bitcoin and other currencies to their major industries?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
Probably you are daydreaming standing at the current context. Majority of the governments didn't even recognize cryptos as a legal tender so linking it to their major industries seems really very difficult, at least at the current moment.
I doubt Malaysia has started taking any such initiative. Can you quote a credible new source supporting this news?
Giving legal tender to a centrally issued and centrally controlled crypto-money... well, what’s the point? EUR and USD are good enough for this.
How do you think should countries link Bitcoin and other currencies to their major industries?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
Probably you are daydreaming standing at the current context. Majority of the governments didn't even recognize cryptos as a legal tender so linking it to their major industries seems really very difficult, at least at the current moment.
I doubt Malaysia has started taking any such initiative. Can you quote a credible new source supporting this news?
Forget that.
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
Money is one of most important tool to govern a country. Every national State is very cautious about everything could mine his ability to disposeof that money at his will. Think how long it took to get to a monetary union like the Euro: it was an unprecedented process, even more thinking about it was a peaceful one.
So basically everywhere in the civilised world you are obliged to accept national currency from someone paying your debt, and you must use such a currency to pay your debt towards the State.
Of course that means the State has the big advantage of regulate the value of the money (I.e. inflation) to adjust the weight of his own debt).
So why on hell would the State lose this incredible power?
Put it on another way: what’s the poin of paying your debt in Bitcoin? Are you sure you don’t want instead to spend the bad money (FIAT currency) and keep the good one(Bitcoin)?
For my own understanding, it will be a little difficult because, every government has their own official currency, despite the popularity of crypto currencies,no government will like to loss her own currency to foreign one, and this has been the underground war going on with some country, that's while some country are still struggling to accept coin.
This is a pretty deep point of view, because it describes in fact what the government of every country stand for - Which is supposedly their own people first. With exceptions of course, in one side and the other.
It would be an interesting switch to accept both, but they would need to have a very good reason to do so. Right now i don't think it's possibly to do it in a widely accepted level. Maybe in the future things would be different.
For my own understanding, it will be a little difficult because, every government has their own official currency, despite the popularity of crypto currencies,no government will like to loss her own currency to foreign one, and this has been the underground war going on with some country, that's while some country are still struggling to accept coin.
How do you think should countries link Bitcoin and other currencies to their major industries?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
And how will it affect its rate?
I've heard that Malaysia started to do that already. Is it bad or good step?
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