Topic: The Government-Backed Digital Dollar (USD) - page 2. (Read 1135 times)
I am very confident that the United States will make a digital dollar or a their own cryptocurrency in the future. It aims to compete with countries that have already made their own Crypto, especially competing with China. So for those of you citizens of the United States you will get a "Digital Dollar" soon from now.
Many transaction for import and export using USD as payment currency with many countries, when USD have been most popular payment using look hard for bitcoin become legal currency, always have way how to make many countries want to accept bitcoin as currency payment for every import and export transaction because can give benefit both seller and buyer.
A state-funded Blockchain money? Is that really necessary? What is the purpose of the bitcoin market anyway? To provide an alternative to the cumbersome structures of states. Bitcoin or a different project, I think states will not officially enter this business.
Germany, Russia, China and Japan have entered this business, have you not read the news ?, China will launch a crypto currency next year, this indicates that the crypto currency is really favored by large countries, but America still hates it
A state-funded Blockchain money? Is that really necessary? What is the purpose of the bitcoin market anyway? To provide an alternative to the cumbersome structures of states. Bitcoin or a different project, I think states will not officially enter this business.
Germany, Russia, China and Japan have entered this business, have you not read the news ?, China will launch a crypto currency next year, this indicates that the crypto currency is really favored by large countries, but America still hates it 
A state-funded Blockchain money? Is that really necessary? What is the purpose of the bitcoin market anyway? To provide an alternative to the cumbersome structures of states. Bitcoin or a different project, I think states will not officially enter this business.
There's a reason why they can't just adopt sudden changes like digital currency. I'm not sure and this is just my personal opinion but since USD is the world's reserved currency, and usd is involved in a lot of foreign exchange, I think if they adopt digital currency, not all countries can adopt it as well due to lack of technological capabilities and advancement.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
USD have been world currency payment with many countries use USD as payment for export and import transactions and many loan making by government in one country always use USD as currency payment value when receive loan and give payment later, for country borrow when USD have higher price and pay after USD in lower price look profitable.Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
speaking about the greatness of US dollar is not a matter and for the cryptocurrency field we doesn't need that also. Whenever you wish to to invest on cryptocurrency you just need to forget about this table Fiat currencies because this all all their currencies are backed by federal and reserve banks.
banks are not at all helpful for the people in this world the only trying to scratch the uses who want to use it.
Banks are not trying to helpful, but useful (not always I agree)
If digital dollar would be backed by banks + it could be mined = boom
This combination can make Usd go straight up
There's a reason why they can't just adopt sudden changes like digital currency. I'm not sure and this is just my personal opinion but since USD is the world's reserved currency, and usd is involved in a lot of foreign exchange, I think if they adopt digital currency, not all countries can adopt it as well due to lack of technological capabilities and advancement.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
USD have been world currency payment with many countries use USD as payment for export and import transactions and many loan making by government in one country always use USD as currency payment value when receive loan and give payment later, for country borrow when USD have higher price and pay after USD in lower price look profitable.Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
speaking about the greatness of US dollar is not a matter and for the cryptocurrency field we doesn't need that also. Whenever you wish to to invest on cryptocurrency you just need to forget about this table Fiat currencies because this all all their currencies are backed by federal and reserve banks.
banks are not at all helpful for the people in this world the only trying to scratch the uses who want to use it.
There's a reason why they can't just adopt sudden changes like digital currency. I'm not sure and this is just my personal opinion but since USD is the world's reserved currency, and usd is involved in a lot of foreign exchange, I think if they adopt digital currency, not all countries can adopt it as well due to lack of technological capabilities and advancement.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
USD have been world currency payment with many countries use USD as payment for export and import transactions and many loan making by government in one country always use USD as currency payment value when receive loan and give payment later, for country borrow when USD have higher price and pay after USD in lower price look profitable. Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
There's a reason why they can't just adopt sudden changes like digital currency. I'm not sure and this is just my personal opinion but since USD is the world's reserved currency, and usd is involved in a lot of foreign exchange, I think if they adopt digital currency, not all countries can adopt it as well due to lack of technological capabilities and advancement.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
Or maybe the government doesn't find it as that essential for now but maybe in the future they might adopt too.
The US government is too strict on cryptocurrencies. But they have so many departments that it is difficult for them to achieve coherence. Unlike the United States in Europe, where it already uses the same currency for member countries, it is less difficult to implement the idea of a decentralized digital currency. Similarly, in China, where leadership dictates its rules to everyone. Although this attitude of the USA surprises me. Aren't they afraid to keep up with the world
Every government on each country has it's own rules and regulations in which need to follow it in order to avoid conflicts. As the crypto currency become more demand throughout the world many users want to us it by transferring it from one place to another. Just like that your country legalize crypto currency and by travelling to other country you can't access due to it's not authorized. What I mean to say each of us must aware the different place as we want it as I'm still hoping that those country didn't legalize crypto currency will be legalize soon.
What if they are working on that but have decided to keep it as a secret? You never know.
So with all these creating their own cryptocurrencies, does that mean stable coins are taking over now? What about volatile coins like Bitcoin and Ethereum, what will then happen to them when the time comes? Every country are planning on creating a digital version of their own currency and these digital currencies are mainly going to gain mainstream adoption, which will make them surpass the first cryptocurrencies we have now.
There are lots of people right now that are not interested in crypto, but when these comes, they will all start to be interested. I guess Bitcoin will just be seen as a digital gold and nothing else.
So with all these creating their own cryptocurrencies, does that mean stable coins are taking over now? What about volatile coins like Bitcoin and Ethereum, what will then happen to them when the time comes? Every country are planning on creating a digital version of their own currency and these digital currencies are mainly going to gain mainstream adoption, which will make them surpass the first cryptocurrencies we have now.
There are lots of people right now that are not interested in crypto, but when these comes, they will all start to be interested. I guess Bitcoin will just be seen as a digital gold and nothing else.
The US government is too strict on cryptocurrencies. But they have so many departments that it is difficult for them to achieve coherence. Unlike the United States in Europe, where it already uses the same currency for member countries, it is less difficult to implement the idea of a decentralized digital currency. Similarly, in China, where leadership dictates its rules to everyone. Although this attitude of the USA surprises me. Aren't they afraid to keep up with the world
The USA has too many different interests, which prevents them from focusing on only one technical area. The digital coin from the government doesn’t seem like an ideal idea to me either. China will prove to be excellent in this area, but still it will not be the freedom of action that is expected from blockchain systems.The US government is too strict on cryptocurrencies. But they have so many departments that it is difficult for them to achieve coherence. Unlike the United States in Europe, where it already uses the same currency for member countries, it is less difficult to implement the idea of a decentralized digital currency. Similarly, in China, where leadership dictates its rules to everyone. Although this attitude of the USA surprises me. Aren't they afraid to keep up with the world
The USA has too many different interests, which prevents them from focusing on only one technical area. The digital coin from the government doesn’t seem like an ideal idea to me either. China will prove to be excellent in this area, but still it will not be the freedom of action that is expected from blockchain systems.The US government is too strict on cryptocurrencies. But they have so many departments that it is difficult for them to achieve coherence. Unlike the United States in Europe, where it already uses the same currency for member countries, it is less difficult to implement the idea of a decentralized digital currency. Similarly, in China, where leadership dictates its rules to everyone. Although this attitude of the USA surprises me. Aren't they afraid to keep up with the world
The USA has too many different interests, which prevents them from focusing on only one technical area. The digital coin from the government doesn’t seem like an ideal idea to me either. China will prove to be excellent in this area, but still it will not be the freedom of action that is expected from blockchain systems.
I don't see a single reason for any country NOT to develop its own digital currency (whether it is crypto or not).
Because this way govs can profit from: a) taxes b)miners
Both of it leads to govs's profit
Because this way govs can profit from: a) taxes b)miners
Both of it leads to govs's profit
Simply they will going to be left behind if they will allow that to happen something like we never expect that US will be that to strict with the regulations about crypto but sooner or later they might accept it or not they will have no other choice when futures comes in the market like in china as pf many people there are already using e payments systems more than their cash or fiat.
There is nothing simple about America. America was the country that won the second world war and as a barometer of the world economy when the dollar was made a global currency.
America is a country that has a wait and see attitude towards cryptocurrency. Although many countries have adopted and legalized bitcoin, the United States has a skeptical view of bitcoin. Today the world sees America as anti-cryptocurrency because of the view of Trump as the country's leader who is a barometer of the world economy.
If we investigate further, the IMF which is identical as a tool of American interference in other countries with its debt instruments has signaled approval that the central bank should issue fiat-based digital currencies.
https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency
Blockchain technology can provide a serious impetus for the transition to a new lifestyle. A society without cash is no longer a Utopian dream and because each country faces unique circumstances surrounding the use of cash and the adoption of e-money. Cryptocurrency can offer a real alternative to other forms of payment, but it is not wise for central banks to offer fully anonymous digital currencies because they will potentially create a safe space for criminals. Digital currencies supported by central banks can help promote financial inclusion, security and privacy in payment systems as a cheaper and more efficient alternative to cash. USD-based stable coins are the safest way to follow the flow of digital economic and financial technology without threatening the interests of the United States.
After Facebook announced it's Libra digital currency, several countries have expressed their interest of launching a digital currency of their own. China has already announced that it'll be working on Blockchain technology for a digital version of the Chinese Yuan while other countries have done the same. Most recently, German banks have requested the European Union to launch a programmable "digital euro" that would replace the current monetary system (physical Euro). All these developments shows us that we're getting closer to a "cashless society" than we've thought.
While all of this is exciting, it seems that the USA will be left behind in the development of a blockchain-based "digital dollar" (USD). After all, the country has been known to be quite strict about the development of the crypto industry. With many fierce regulations against crypto and Blockchain tech, many mainstream crypto businesses and companies have decided to stop providing services to US citizens. Poloniex will no longer serve US customers, which greatly diminishes the adoption of crypto within the US. This makes me wonder whenever the US will allow a "Digital Dollar" to happen in the future or not? If it doesn't migrate to the digital realm, then I'm afraid that other countries will take the lead in the world's economy. It's a matter of being ahead in the latest technologies to obtain supremacy. If the US remains reluctant to accept Blockchain technology into its current monetary system, then it'll be left behind without a doubt.
What do you think?
Simply they will going to be left behind if they will allow that to happen something like we never expect that US will be that to strict with the regulations about crypto but sooner or later they might accept it or not they will have no other choice when futures comes in the market like in china as pf many people there are already using e payments systems more than their cash or fiat. While all of this is exciting, it seems that the USA will be left behind in the development of a blockchain-based "digital dollar" (USD). After all, the country has been known to be quite strict about the development of the crypto industry. With many fierce regulations against crypto and Blockchain tech, many mainstream crypto businesses and companies have decided to stop providing services to US citizens. Poloniex will no longer serve US customers, which greatly diminishes the adoption of crypto within the US. This makes me wonder whenever the US will allow a "Digital Dollar" to happen in the future or not? If it doesn't migrate to the digital realm, then I'm afraid that other countries will take the lead in the world's economy. It's a matter of being ahead in the latest technologies to obtain supremacy. If the US remains reluctant to accept Blockchain technology into its current monetary system, then it'll be left behind without a doubt.
What do you think?
Even with their clear intents to restrict cryptocurrency usage, I highly doubt that they would not make their own digital fiat. They might even be starting doing R&D and might be close to announcing it without us knowing. A great superpower wouldn't let all these advancements just slip up their hands, they would be surely catching up with other countries. It's either intentional delay, or it's just that the current administration running the government doesn't want digital currencies maybe because of political reasons, personal, or even be their pride to hold what their first stand against such currencies.
I think the US has all the scenarios studied, and I think there may be a great and stealthy agreement with Mark and Libra from Facebook, the fact that they postpone their launch of the digital dollar for 5 years, is a clear and intelligent move, as it is known that Libra will have more acceptance worldwide than the cryptocurrency launched by a Country or a Bank, the fact of being a social network, people have more appreciation for it.
Now the US said that Libra can launch its stablecoin if it complies with all financial laws and Mark had previously stated that it will seek to increase the US economy through Libra, in a nutshell the US is very lucky, otherwise CHINA has it that its main concern is Libra. For more information on the digital dollar here: Steven Mnuchin Does Not Expect US to Issue Digital Dollar in Next 5 Years, cointelegraph
United State always want to backed their cash money USD become most popular payment transaction use around the world, how ever with new digital payment like bitcoin will stop there to keep competitor US become on the top list payment transaction, until today United State government not give allowed for Libra coin become legal in their country because afraid with their people move from USD to Libra. Now the US said that Libra can launch its stablecoin if it complies with all financial laws and Mark had previously stated that it will seek to increase the US economy through Libra, in a nutshell the US is very lucky, otherwise CHINA has it that its main concern is Libra. For more information on the digital dollar here: Steven Mnuchin Does Not Expect US to Issue Digital Dollar in Next 5 Years, cointelegraph
I think the US has all the scenarios studied, and I think there may be a great and stealthy agreement with Mark and Libra from Facebook, the fact that they postpone their launch of the digital dollar for 5 years, is a clear and intelligent move, as it is known that Libra will have more acceptance worldwide than the cryptocurrency launched by a Country or a Bank, the fact of being a social network, people have more appreciation for it.
Now the US said that Libra can launch its stablecoin if it complies with all financial laws and Mark had previously stated that it will seek to increase the US economy through Libra, in a nutshell the US is very lucky, otherwise CHINA has it that its main concern is Libra. For more information on the digital dollar here: Steven Mnuchin Does Not Expect US to Issue Digital Dollar in Next 5 Years, cointelegraph
Now the US said that Libra can launch its stablecoin if it complies with all financial laws and Mark had previously stated that it will seek to increase the US economy through Libra, in a nutshell the US is very lucky, otherwise CHINA has it that its main concern is Libra. For more information on the digital dollar here: Steven Mnuchin Does Not Expect US to Issue Digital Dollar in Next 5 Years, cointelegraph
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