Topic: What are the odds that the government/banks will truly create their own coin? - page 7. (Read 2143 times)
October 26, 2018, 10:57:53 PM
Governments and banks will create their centralized cryptocurrency to take advantage of the cryptocurrency as a new means of payment. They can do this for a different purpose. I want to see how these coins will go and what will come of it. I do not think that they will threaten Bitcoin or other decentralized cryptocurrency. On the contrary, by these actions they will attract the attention of people to the whole cryptocurrency. And this is, in principle, good.
October 26, 2018, 08:20:12 PM
If governments and central banks make their own cryptocurrency, Bitcoin and Altcoin will not be affected and will not be replaced by them. Because crypto coins they make are centralized. While Bitcoin is a decentralized and more efficient currency.
Agreed, but what if the government decided to regulate cryptocurrencies when they make their own coins? Surely it will affect the market, right?
October 26, 2018, 07:08:57 PM
I dont think government or central banks will creating their own cryptocurrency. I am believe there is no benefits for them because they already control money supply in market. But i am believe banks will adopt blockchain technology for their system
October 26, 2018, 05:32:49 PM
We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?
If you ask me regarding the banks, I will easily say that the odds are very high. The banks will definitely create their own cryptocurrencies to keep up with the competition. But as for the governments, they may just stick to their fiat currency instead of crypto. 
October 26, 2018, 02:16:57 PM
They will create their own coins when Bitcoin will become much more popular, but people will understand that those are centralized, because they would already have seen tons of centralized coins on altcoin markets. So, governments and banks will definitely fail to takeover crypto, they should have tried to do this earlier, when the hype was high, but now and later it will be too late.
October 26, 2018, 12:47:04 PM
I wouldn't be surprised if banks do this as they are, after all, in the business of making money. There are already banks who are now accepting bitcoin so if they make their own coin, it's just part of the evolution of cryptocurrency.
October 26, 2018, 12:14:37 PM
i know that China is working on digital Yuan
It is even kind of priority for them
China is already trading with Yuan with some countries including Germany so digital Yuan will make trading more easy
Good move by China if they will do that
It is even kind of priority for them
China is already trading with Yuan with some countries including Germany so digital Yuan will make trading more easy
Good move by China if they will do that
October 26, 2018, 11:25:58 AM
We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?
I think soon they will and probably we will never going to use a single currency for the whole world and people will only create such coins for themselves to use.
October 26, 2018, 11:17:37 AM
We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?
If ever banks and the government will truly create their own coin, I think they will be treated like normal Altcoins and nothing is special about them and the fact that they are not decentralized just like any other cryptocurrency which investors and enthusiasts supported for privacy and security purposes. I don't even see them as a threat to Bitcoin and one example in this discussion is Ripple and will soon add Petro of Venezuela which is a state owned crypto. October 26, 2018, 11:03:47 AM
If governments and central banks make their own cryptocurrency, Bitcoin and Altcoin will not be affected and will not be replaced by them. Because crypto coins they make are centralized. While Bitcoin is a decentralized and more efficient currency.
Agreed, but what if the government decided to regulate cryptocurrencies when they make their own coins? Surely it will affect the market, right?
October 26, 2018, 09:28:08 AM
If governments and central banks make their own cryptocurrency, Bitcoin and Altcoin will not be affected and will not be replaced by them. Because crypto coins they make are centralized. While Bitcoin is a decentralized and more efficient currency. In addition, cryptocurrencies made by the government and bank are only a trend in one country and not globally.
October 26, 2018, 09:21:30 AM
Today, there are a lot of cryptocurrencies. Nothing will change if governments add some new cryptocurrencies to the market. They cannot threat bitcoin. Whether a government create a decentralized or even centralized cryptocurrency they make bitcoin more popular. Every one try to study about cryptocurrencies, first will know bitcoin.
If the government of a particular country converted their own local currency into cryptocurrency (a cryptocurrency version of their local money), does it not mean that the people in that country will start using the government-issued crypto more? I think this is possible because some people might have a hard time understanding bitcoin, so they will use the one the government created instead.
October 26, 2018, 08:16:33 AM
I seriously believe that governments and financial institutions are going to create there own coins in future and most of them are secretly studying blockchain technology in other to find the way to used it to their advantage. Blockchain technology is good and why governments dislike it is because it is decentralized.
October 26, 2018, 07:45:48 AM
They are into regulating the bitcoin and other cryptocurrency now.
But the power of this currency will never be stop by any country.
This is the future of the world, if they dont want to be done then they will adopt the technology.
They will soon have their own crypto currency.
But the power of this currency will never be stop by any country.
This is the future of the world, if they dont want to be done then they will adopt the technology.
They will soon have their own crypto currency.
October 26, 2018, 07:13:57 AM
They wont, because they know very well that they have already created the best currency of all time called as Fiat. They are controlling it and having its price tag manipulated or controlled or whatever you call it is completely fool proof system. They will never ever divert themselves for shitcoins and investing their money into a project based on the technology which is novice and not needed by them yet. They are already making fun of it by imposing lot of rules and regulations on it and I guess you should be getting your answer from that only, no they wont create their own currency at all.
These is a matter of Regulation on how the government create its Coin for open market. Some big company already had their own coin as posted in the market after ICO, the other thing or the question is when? what Kind of coin to be launch in the open market of crypto currency in the near future. the possibility is always open. the only question now is which country who will make a greater move to participate for Crypto market.
October 26, 2018, 07:07:04 AM
They wont, because they know very well that they have already created the best currency of all time called as Fiat. They are controlling it and having its price tag manipulated or controlled or whatever you call it is completely fool proof system. They will never ever divert themselves for shitcoins and investing their money into a project based on the technology which is novice and not needed by them yet. They are already making fun of it by imposing lot of rules and regulations on it and I guess you should be getting your answer from that only, no they wont create their own currency at all.
October 26, 2018, 06:22:47 AM
Some countries are have already created or are in the process of creating their own cryptocurrency.
The Marshall islands is one of them (http://time.com/money/5186316/this-is-the-first-country-to-adopt-a-cryptocurrency-as-its-official-currency/)
"The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender when it passed a law this past week to create the digital “Sovereign,” or SOV. In the nation of 60,000, the cryptocurrency will have equal status with the U.S. dollar as a form of payment.
The Marshall Islands intends to initially sell 6 million SOVs to international investors. It says it will use the money to help pay for the budget, invest in projects to mitigate the effects of global warming and support those people still affected by U.S. nuclear testing."
The smaller and less powerful something is, the more well-intentioned they are.. If powerful governments were to create their own centralized cryptocurrency it would not be for the greater good, but for the 1%
The Marshall islands is one of them (http://time.com/money/5186316/this-is-the-first-country-to-adopt-a-cryptocurrency-as-its-official-currency/)
"The Pacific island nation said it became the first country in the world to recognize a cryptocurrency as its legal tender when it passed a law this past week to create the digital “Sovereign,” or SOV. In the nation of 60,000, the cryptocurrency will have equal status with the U.S. dollar as a form of payment.
The Marshall Islands intends to initially sell 6 million SOVs to international investors. It says it will use the money to help pay for the budget, invest in projects to mitigate the effects of global warming and support those people still affected by U.S. nuclear testing."
The smaller and less powerful something is, the more well-intentioned they are.. If powerful governments were to create their own centralized cryptocurrency it would not be for the greater good, but for the 1%
October 26, 2018, 05:54:59 AM
Governments and banks already have their own currency and it is the fiat currency. It is unlikely that they will ever try to create their own cryptocurrency. Even if they do try create it, it will not be decentralized. A centralized currency will hardly be able to cryptocurrency.
October 24, 2018, 01:59:33 PM
Banks already have their own currency. These are the fiat coins, which banks will not give up. Both the government and the banks are responsible for improving the economy of a state with paper coins. It is fanciful to believe that bitcoin will be taken over by banks or that banks will adopt a crypto currency. Even if that were the case, all paper coins will govern.
October 24, 2018, 12:30:00 PM
it is not possible at all to replicate Bitcoin without POW launch.
that is the only trustless way to distribute
once you pass through a period of needing trust there is no way back to being trustless
that is the only trustless way to distribute
once you pass through a period of needing trust there is no way back to being trustless
Jump to: