What do you think about crypto currency issued by the government? - page 16.

fasdorcas

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Quote from: bitcoinveda on October 17, 2018, 01:42:37 AM

Cryptocurrency issued by governments are centralised coins they are just replacement of fiat currency

Exactly, nothing will ever change that and absolutely no country will ever come up with a cryptocurrency that is decentralized and they have no control over.

We should not even be debating this, looking at the attitude government has put up on the idea of decentralization over the years and apparently, the only thing we are going to be seeing is just another fiat on the blockchain that is purely centralized, the same economic policies generally that has been ongoing still applies to it and the only difference is going digital. Sure, we may see some transparency when it comes to spending by the government.

Wall_Streeet

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I believe that it allows you to erase the boundaries between those who want to use the cryptocurrency, but is afraid, and those who already use it

yvesp110

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Quote from: Kat_messy on October 18, 2018, 06:02:14 AM

The only difference between the cryptocurrency being issued by private company or a country is that the country can't technically go bankrupt and the coin can't become a scam. But if we think about value, then it depends how the certain coin will be backed.

I don’t know about the other coins but for me bitcoin is the best coin, I think all of us should invest at the moment, now all over the world almost all companies are issuing the bitcoin to their employs, it is good progress to our income with our investment, scamming happens because of our carelessness if we will not show carelessness so we will only earn no one can scam our bitcoin.

Leyss

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Quote from: Capt00 on October 18, 2018, 06:34:41 AM

Yes, it doesn't happen that the government creates a cryptocurrency aside from paper money. It is probably useless because each country having a local currency value that not rely on bitcoin price, so if they have digital currency I think it becomes a shitcoins just like other altcoins in market cap. Yes, it might be that coins have no value at all.

In the near future, many states or central banks of these states will issue their own cryptocurrency. This has already been announced by many of them. I believe that this will only help people, and decentralized cryptocurrency, and the state. We need to wait for the appearance of such coins and see how they will work. It is clear that this cryptocurrency will be fully controlled by the government of these states, however, we now need the experience of walking such cryptocurrencies. It seems that they will simply complement the possibilities of national money and will walk predominantly on the territory of these states.

Cacingkemi

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Maybe good or not IMo cause it will be the same as the exchange rate of the world bank,fiat traders are centered on the government and maybe if launching the same crypto with fiat might be monitoring prices but well if the interested investors can get the exchange rate will improve.Must rethink and return to the government own.

Capt00

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Yes, it doesn't happen that the government creates a cryptocurrency aside from paper money. It is probably useless because each country having a local currency value that not rely on bitcoin price, so if they have digital currency I think it becomes a shitcoins just like other altcoins in market cap. Yes, it might be that coins have no value at all.

Bagaji

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Quote from: Leocrypto da Vinci on October 17, 2018, 05:11:58 PM

A cryptocurrecy issued by a government is stupid by definition:

It doesn't seem stupid if any government around the world issued cryptocurrency to her citizens. One thing is sure in this case, that, the said cryptocurrency issued by the government will neither be a decentralized cryptocurrency rather a centralized platform for transacting digital currency.

Quote from: Kat_messy on October 18, 2018, 06:02:14 AM

................is that the country can't technically go bankrupt and the coin can't become a scam.

On a clear note, the country can experience bankrupt even though it's tagged to cryptocurrency. The best about this cryptocurrency is that, it can never be a scam unlike what we are experiencing on coins without value.

Kat_messy

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The only difference between the cryptocurrency being issued by private company or a country is that the country can't technically go bankrupt and the coin can't become a scam. But if we think about value, then it depends how the certain coin will be backed.

upsidedown75

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Quote from: Ucy on October 16, 2018, 12:23:05 PM

It's like saying that Central banks plan to create their own Cloud or Sunshine.
If they Google the features of True Cryptocurency they will understand why it's a dumb idea to have so called Central bank Cryptocurency. They probably should stick with the their fiat currencies. They are still as good as centralized Cryptocurency

A real dumb idea and practically they have no single clue. Government issued digital currency will simply just be like the regular fiat that has been on ground right from the onset, and the only thing that would make it different is that there is nothing like having to print money or something and everything is done on the blockchain but in the end, nothing changes the fact that it would remain centralized and as long as it is centralized, it should not even be considered as a cryptocurrency at all.

We keep complaining everyday about how XRP is so centralized, or how USDT is going to implode one day for going shady deals, how are we so sure anything that comes from some particular government will not tend towards the same zone.

Leocrypto da Vinci

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A cryptocurrecy issued by a government is stupid by definition: the crypto are decentralized, if they are controlled by a government, then they are usual fiat money in electronic format.
We hope people understand it ...

syamster

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Quote from: sinkfish on October 16, 2018, 03:59:50 AM

blockchain is decentralize. which means everyone can make their own crypto. which include government. whether it will be widely accepted by public its another topic.

You are right even if anyone will make their own currency so it is not be acceptable by people who are using it, we need to trust and use the available coins, because it has high scope than before. I personally think that we should invest our money to bitcoin which is trending coin now a day and the future of bitcoin is bright so all of us should invest in it to save our money.

bitcoinveda

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Cryptocurrency issued by governments are centralised coins they are just replacement of fiat currency

omonuyak

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Quote from: tactac on September 26, 2018, 10:17:02 AM

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..

How do you think about these crypto?

Cryptocurrency is still at the early stages and as such governments is going to takes it time before adopting it. Just like in days of internet when both bank and governments were against the used of internet and some of them said it is too risky but now we can see how the whole world is now a global village because of internet. So it will be with bitcoin and others cryptocurrencies, our governments are going to adopt it in years to come.

jcarlo

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Quote from: tactac on September 26, 2018, 10:17:02 AM

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..

How do you think about these crypto?

If crypto issued by government or central banks, regulation about cryptocurrency must be already signed. It will be good for cryptocurrency market and makes bitcoin price will increase and become digital store of value like gold

FunGate

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I think a government issued cryptocurrency wouldn't change much, as people would still have a currency associated with their respective country, and citizens would still be reliant on a centralized structure to exchange value.

Ucy

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Compare rates on different exchanges & swap.

It's like saying that Central banks plan to create their own Cloud or Sunshine.
If they Google the features of True Cryptocurency they will understand why it's a dumb idea to have so called Central bank Cryptocurency. They probably should stick with the their fiat currencies. They are still as good as centralized Cryptocurency

dimox

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no problem. they want to create coin for their country. it can make easy when you make transaction, faster than bank itself. but the profit still for government.
government try to implement crypto to all people, so they can feel how to work with crypto, before they use bitcoin, as global coin

gentlemand

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Welt Am Draht

Quote from: The Sceptical Chymist on October 16, 2018, 07:35:37 AM

Yeah, thanks but no thanks. I think most societies are moving toward being cashless, but my impression is that this is being driven by citizens and not government, i.e., people much prefer to use either debit/credit cards or their phones to pay for everyday things and at least in the US it's not being promoted by the government.

That's what blows my mind. I can't believe people aren't thinking this through. Paranoia aside, basing an entire country's spending on the dependability of a couple of card companies and a handful of banks is fooking barking.

In the UK there've been multiple moments of chaos when banking has crapped out.

At least Western cashlessness is a bit more segregated than the Chinese version. There most people spend through their Wechat account which basically offers up every detail, thought and preference of your entire life. The ideal place to turn off the taps.

ganjasmokingg

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Quote from: tactac on September 26, 2018, 10:17:02 AM

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..

How do you think about these crypto?

If the banks release their own crypto I think they are aiming to keep control of the economy and we will not like it. If their currency is used by many people, the economy will return as before, no longer free trade as before.

ichai

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Quote from: tactac on September 26, 2018, 10:17:02 AM

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..

How do you think about these crypto?

I think that would be a great thing. Because they will be the ones who make the Crypto market better than ever. Our Crypto market should be protected and fair. If the government joins the Crypto market, the market will become better and investors will not worry about being cheated.

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