Turkey working on their own digital by end of 2020 - page 4.

tinyteapot

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After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race

On the contrary Turkey announces its own blockchain before the chinese government https://cointelegraph.com/news/turkey-announces-plans-for-a-national-blockchain-infrastructure though their announcement did not drive the market price.

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will more countries also creating their own national cryptocurrency?

More countries shall be showing interest as soon as China implement their own blockchain. We should expect so many other problems/challenges after each countries implement their blockchain because government are know to be greedy and self centered.

huu78

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I'm sure other countries will follow China and make their own currency to compete and hope to cope with the price of their fiat which is always down.
But if the state makes its national currency only to replace Bitcoins in that country using the currency they make. Where Bitcoin is the pioneer of cryptocurrency itself and they want to get rid of it I think impossible.

shoreno

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Quote from: irixo10 on November 07, 2019, 01:39:38 AM

Well this is a good news however one needs to fully understand the working principles of these countries digital currency so that one won't end up loosing all privacy etc. From another angle, this will give or throw more limelight to the crypto space and when people gets educated and finds out Bitcoin is better it will attract more growth to the crypto space. Furthermore, I think other countries will also be thinking of creating theirs because no one will like to lose out.

a good news ? no i dont consider it as one . i feel that its bad if a country creates thier own crypto because they can ask people to support it and refrain from using the traditional cryptos but this is only my what if's and maybe people can still refrain from the offer of thier governments and they will still prefer to choose cryptos . china and other countries before have done this idea right ? but i dont seen any updates from them about the status of thier coins .

irixo10

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Well this is a good news however one needs to fully understand the working principles of these countries digital currency so that one won't end up loosing all privacy etc. From another angle, this will give or throw more limelight to the crypto space and when people gets educated and finds out Bitcoin is better it will attract more growth to the crypto space. Furthermore, I think other countries will also be thinking of creating theirs because no one will like to lose out.

Obito

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Quote from: posi on November 06, 2019, 07:48:18 PM

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

National cryptocurrency? Well will it be valuable to non chinese or non turkey citizen? Still a great news. I thought China wayback then shuts down crypto currency even in the mainland. Maybe this was influenced by China truly a new revolution. Venezuela from what I heard started already accepting Bitcoin, and in mid 2020 there will be a halving I think it would be a golden year for crypto currency community I hope so.

dimonstration

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Quote from: ecnalubma on November 07, 2019, 01:13:17 AM

Definitely most countries will transform their monetary system through digital assets. The bold move of Chinese government is strong influence that soon more countries will follow same path. But yet digital currencies will have no problem and can coexist with Bitcoin but probably citizens will still prefer holding speculative digital assets.

The fear is when every country create their own centralized coin they might ban crypto since it's their way to operate and monitor the currencies that are used by their people, but if they only want a way o use blockchain and not to ne left out on it's potential usage then it's really a good decision in Turkey.

takngantuk

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Quote from: posi on November 06, 2019, 07:48:18 PM

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

Turkey's steps are very good. I hope they can become a crypto-friendly country in the future. since China said even his country would focus on developing the blockchain, many countries began to be interested in developing this technology.

zero714309

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Quote from: ?? on ??

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

At first time im hearing about country created own crypto im very happy because i think people will more open mind in digital currency but after read your opinian i feel bad. I think your opinian almost true. This is fact we need more pay attention.

No Pain No blood

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more and more countries have begun to participate in the development of the blockchain. maybe this can make mass adoption happen in the future. China, Turkey and maybe soon the US and other European countries will also join in this race. When the crypto market started to mature, many positive things happened, I was very happy to hear that.

ecnalubma

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Definitely most countries will transform their monetary system through digital assets. The bold move of Chinese government is strong influence that soon more countries will follow same path. But yet digital currencies will have no problem and can coexist with Bitcoin but probably citizens will still prefer holding speculative digital assets.

VanDeinsberg12

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Quote from: posi on November 06, 2019, 07:48:18 PM

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

I never heard if the IMF boss has already advised the country to create their crypto. As far as I know, this to help the country to defend its country from an embargo that has already happened. Turki is also a country which is near from the crisis.

I never think if IMF boss gives advice for a country to create their own crypto because so many bankers are feeling contradicted with it. For me, it can't be a strong reason why more country is interesting to issue its own nation cryptocurrency.

We have so many things to be discussed. May I know where are you getting that rumour if IMF boss is giving it? I meant about advice that already mentioned in your post.

caffu chino

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Quote from: posi on November 06, 2019, 07:48:18 PM

After announcement of the creation of own national cryptocurrency made by the Chinese government another country (Turkey) also joined the race of creating their own national digital currency name Lira, which was the first basic monetary unit used by Italian and Turkey before the introduction of Euro in the year 2002.
Source
I believe the reason why country are planning their own national crypto was because the IMF boss advised and the question is will more countries also creating their own national cryptocurrency?

if later China and Turkey succeed in releasing their crypto currency. and positive public response, there will probably be many countries that will follow their lead. especially their competitors, the US. You know that country always didn't want to lose in any field. so if it's about the technology of the future, the US will not stand by and just watch, surely they will do something.

Shasha80

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This is good news for the development of cryptocurrency, after China which intends to make its own cryptocurrency coin. Now turn
Turkey follows in the footsteps of China by making coins for their own countries. This is positive growth for development cryptocurrency,
because I am sure that soon there will be other countries that will also make their own cryptocurrency. Let it be all countries make their
own centralized coins, I'm sure none of them can beat bitcoin. There will be accelerating cryptocurrency and blockchain technology is
legal worldwide.

Christinebeauty

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Indeed more and more countries are joining the train. Binance has also announced its partnership with Ukrainian government to provide an advisory role in their upcoming finances digitization and crypto regulations. https://cryptopress.news/binance-to-play-advisory-role-in-the-upcoming-ukraine-crypto-regulations/

acdc

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Venezuela has previously issued a Petro currency. This coin was backed by the mine, but it was unable to achieve success. I think the Turkish currency will experience the same result, it seems that people don't like a centralized cryptocurrency managed by a government.
However, this could bring a positive result to the cryptocurrency market and Blockchain technology, through which the cryptocurrency and blockchain technology will become more known.

Sacramentus

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Well that's a good news and should be a plus to the cryptocurrency world as a whole. I also believe the Chinese move in making cryptocurrency a legal thing in the country will change some countries like India over regulatory compliance on cryptocurrency

Eugenar

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Quote from: ?? on ??

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

Basically it is a step to turn their fiat into cryptocurrency. Not for the sake of being centralized and some characteristics that privacy coin mostly has. The main advantage they can see is to make their transactions much more efficient in terms of speed and reliability. The government will not and never support their own crypto if they will not have control over it in such a way that they need to regulate it for the sake of their economic stability and improvements.

Bttzed03

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It's a race now to whoever adapts to the technology and launch their own digital currency now.

The urgency might have been caused by Libra also.

Quote from: posi on November 06, 2019, 07:48:18 PM

~
the question is will more countries also creating their own national cryptocurrency?

From that same source you provided:

Quote from: https://www.theblockcrypto.com/linked/45865/turkey-working-on-digital-currency-pilots-expected-to-finish-by-2020-end

Last week, an association of over 200 German private banks called for a digital euro. The U.S. Federal Reserve is also apparently researching how to integrate digital currencies to its retail payments as it is hiring a manager for the initiative.

Zeke_23

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Quote from: LbtalkL on November 06, 2019, 11:49:43 PM

Quote from: ?? on ??

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

If it is centralized who cares just don't use it, but the good thing is, it will spread crypto awareness in the whole nation or the world, everyone will be curious and start learning about cryptocurrency especially bitcoin. People will search for history and will find and end up with the real thing which is BTC. This is a free marketing for bitcoin Grin

Why not, if their creation of centralized coin can help us in many ways, why not?
It is not something that can affect bitcoin or any other currency, regulation from the government is not that bad, actually it can also help to avoid illegal activities such as scam project and so on.
If every country will create their own centralized coin, it is also for the good of crypto. At least crypto is starting to expand and started to adopt by many countries.

LbtalkL

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Quote from: ?? on ??

Who cares if it's crypto when it's centralized, controlled and under the eyes of the government. They would never put a cap on fiat, they can change the rules, they can now just more easily spy on transactions if they produce the wallets. It's a shit scenario. Fuck state owned crypto.

If it is centralized who cares just don't use it, but the good thing is, it will spread crypto awareness in the whole nation or the world, everyone will be curious and start learning about cryptocurrency especially bitcoin. People will search for history and will find and end up with the real thing which is BTC. This is a free marketing for bitcoin Grin

Topic: Turkey working on their own digital by end of 2020 - page 4. (Read 704 times)