What do you think about crypto currency issued by the government? - page 18.

Sifon

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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?

Any cryptocurrency that is government backed is devoid of control and will be therefore highly centralized. Their prices will be the determined by the governments that created in the first place and their supply controlled. For me, it's just a digitalized version of their national currencies.

Semosuchi Tesongrato

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Rasputin Party Mansion

A cryptocurrency issued by the government is a mockery by definition: the real crypto are decentralized and have no constraints or boundaries.
When it is issued by the government, it becomes a normal electronic money and no longer has anything as a crypto.

whirlcoin

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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 any government creates a centralized crypto currency then there is nothing new on this wd can just use the current digital transaction for better and faster if any country create their own decentralized cryoto currency it is also not much needed because we already have 1800+ crypto currencies.

Fuhre

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Quote from: ShadowBits on October 14, 2018, 07:40:51 AM

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?

Then that will be the first crypto that people in that place will look into since it is provided by Government it will likely be safe to use.

Yes, it can be a major solution for those who want to get full security and control from the government, I don't think it's the best of decentralized cryptocurrency, what we think is that the public interest in centralized crypto will be swollen because now? this is not a guarantee of good security, here we still have security depending on the personality of how to maintain security, I am not too fond of being centralized after feeling the benefits of decentralization.

ayesha201009

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malta's prime minister https://www.youtube.com/watch?v=qJC4YjZODgI made a discussion on UN meeting last month.
sound impressive: but blockchain will be adopted from government in the next decades because of many reasons to opt in.

Dukjila

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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?

Some countries have existed e-money of the Central Bank for decades.

I think that the possibility of Central Banks to replace this money with a cryptocurrency, which will have even more functionality than cash, and, very importantly, will exist on the basis of a “separate operating structure”, is already being considered.

tenebriscaelum

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I see advantaged and disadvantages of cryptocurrency and blockchain technology that will be issued and regulated by the government. One of its advantages is investors and recognition by its people and it can potentially increase the governments assets, on the other hand one of its disadvantages is that it could be used by politicians against its people or in corruption and we will never know it as there are many politicians that are very manipulative.

h0lybyte

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If governments really issue their own crypto currencies, those peoole who don't believe in bitcoin will be interested to buy and trade through these currencies.
There will be no anonymity and the price will be not much volatile like bitcoin.
Also some pros and cons will differ in between centralized and decentralized currencies

CryptoAssasin

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MenaPay - Crypto made easier than cash

That is a wise decision because it will boost the trust to cryptocurrency and will also promote how it works. If that happens, that central bank who created their own cryptocurrency will surely support bitcoin and ethereum right? If that happens and if that goes well, other banks will be envied or be curious which will follow the footsteps of that central bank. The demand for bitcoin, ethereum and other altcoins will rise again which will be better than what happened last year. Once that central bank raised an ICO, that will be historical for sure!

Theb

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Any cryptocurrency issued by the government that is intended to replace their fiat currency and/or somehow boost their economy through their own fiat currency is bad overall for their economy. There is literally no new money coming inside your country, no foreign investors involve in investing in your country's cryptocurrency which means you are just literally cycling your country's money without really any benefit for both parties. As a result inflation rises and the government's solution will just make them go down in a much deeper place compared to where they used to before. You can look at the present government-issued cryptos and see for yourself that it didn't help their country at all.

ShadowBits

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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?

Then that will be the first crypto that people in that place will look into since it is provided by Government it will likely be safe to use.

kryptqnick

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Join the world-leading crypto sportsbook NOW!

Quote from: Maheshkumar_Hrangkhawl on October 14, 2018, 03:05:01 AM

Those are not real crypto-currencies. Those are just digital versions of the fiat currency, similar to Paypal or Skrill. A crypto-currency should be decentralized. It can't be issued by any central bank.

Makes sense to me, but I still think that it's an improvement over what we have now in the world and some sort of contribution to mass adoption of cryptocurrencies. People will still get to know blockchain and learn how to deal with crypto wallets. The main potential difference from fiat could be that national cryptocurrencies can have limited supply and bring the end to serious devaluation of currencies. Also, no fake money and no accidentally destroyed money (paper becomes old and unrelaible with time and it's also naturally not protected from mud, wated, fire etc.). As people learn how to use official cryptocurrencies, it will be easier for them to turn to the ones we are used to as well.

Buttermellow

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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 do not think that it will going to work for central banks are working with a centralized currency and that would be difficult to manage both systems that are relatively opposite to each other. However, if they can push this project through with cryptocurrency then this would be a game changer in for central banks could really help individual to lend some money/crypto if possible and crypto demand will going to rise that much.

Rath_

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Quote from: Maheshkumar_Hrangkhawl on October 14, 2018, 03:05:01 AM

Those are not real crypto-currencies. Those are just digital versions of the fiat currency, similar to Paypal or Skrill. A crypto-currency should be decentralized. It can't be issued by any central bank.

Well, Ripple is centralized and many people call it a revolutionary cryptocurrency which will be widely used in the future. I am not surprised that so many banks started working with them. In order to create a new XRP address, you have to pay 20 XRP. Your account might be frozen anytime without any warning. Some countries such as Estonia and the Switzerland might create their own decentralized cryptocurrencies since they understand what it is all about.

Maheshkumar_Hrangkhawl

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Those are not real crypto-currencies. Those are just digital versions of the fiat currency, similar to Paypal or Skrill. A crypto-currency should be decentralized. It can't be issued by any central bank.

denuhaqiqi

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they make crypto currencies themselves because they want to have control over their currencies. this is contrary to decentralized crypto currencies. although I think they will have difficulties regarding the anonymity of their users.

tactac

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self made Full member (^-^)v

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?

Topic: What do you think about crypto currency issued by the government? - page 18. (Read 3625 times)