Turkey working on their own digital by end of 2020 - page 5.

CryptopreneurBrainboss

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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.

Aren't the so called big boys in the cryptocurrency space already an exact of what you just described? Ripple (XRP) and EOS are an example of a centralized cryptocurrency yet the community is patronizing them. If this is what we have to sacrifice for the adoption of cryptocurrency globally then I'm ok with government owned cryptocurrency although that doesn't mean I would be patronizing them. The development of this national cryptocurrency will skyrocket the awareness on cryptocurrency and probably enlightening more individual on digital currency.

We needs this government centralized coins so more individual can realize how important bitcoin is since it isn't operated in the manner those centralized coins would be. While bitcoin provides freedom, the government issued coin would just be a replica of fiat (mode of operation) on blockchain probably stablecoins.

sazonk

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Changing the game

It is very interesting that China and Turkey are competing to make crypto-based digital currencies, but however it is made it still will not be able to drop Bitcoin as a major crypto. And it's strange why they make digital currencies while they know the risks with digital money especially crypto based, prices will not be certain, which obviously will lead to state economic instability if everything is based on crypto and especially based on blockchain technology. Yes, except they can already make counter coins for BTC or ETH. And of course if the majority of Bitcoin holders in the world can monopolize the price of BTC it is the same as monopolizing the economic condition of a country. That's what distinguishes Bitcoin as a digital asset and not for physical assets that can be used for everyday purposes because of the uncertainty of the price of BTC or crypto itself.

yazher

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Quote from: posi on November 06, 2019, 08:48:18 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.
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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?

This is just the start, I think most of the capable countries most of them will follow the footstep of these two powerful countries by next year.
They need to get on the trend if they don't want to be left behind by the world's most powerful countries. this is the era we will hoping to see next year, 2020 will be the year of most of the capable countries making its own digital currency. I wonder when will our country join this innovation.

antsam

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The presence of Blockchain with crypto currency cannot be dammed, because it is part of technological advances that must be ready to be accepted or will be left behind. I think that inevitably many countries will start adopting crypto currencies, so that they can control them more

albrots

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Each country can make their own coins easily and are managed under the auspices of the government. The stable coin created can be used for all digital transactions. Developed and developing countries are interested in technology owned by blockchain. So for the future, the possibility of BLCockchain technology and its legality will be debated.

g4r1n1m

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im really not surprised.. eventually every country will have its own stable coin
the race has begun a lot of time ago, the real winners will be the early adopters of blockchain technology

(its us)

Pearls Before Swine

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Every country in the world could create their own crypto, but none could hold a candle to bitcoin.

These state sponsored coins are just going to be centralized versions of crypto, and their real purpose is likely to track people's purchases with pinpoint accuracy, something they currently can't do if people are using physical cash. Do any of you think this is a good thing? I don't. So let Turkey and China have their coins and see how that works out for them. As long as bitcoin is around (and cash for that matter), I won't be supporting a gov't cryptocurrency.

Privacy is rapidly becoming a thing of the past, and there's probably no debate going on about this, is there?

posi

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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 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?

Topic: Turkey working on their own digital by end of 2020 - page 5. (Read 686 times)