What do you think about crypto currency issued by the government? - page 3.

hen cet

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Quote from: goaldigger on January 30, 2019, 02:04:38 PM

Crypto released by government are obviously centralized in nature, however, it can have the government's full support regarding on the peoples needs and technological advancements. The security will also become high and crypto will much safer. The only consequence is that, they will require KYC.

It might be more trusted because it was issued by a government that has gone through regulations so that it is legally safe for trade and investment.
Problems will arise because KYC must be included in crypto purchases or sales issued by the government for taxes, which means they are no longer anonymous. Even though currently the advantages of Crypto are anonymous.

befriendmywater

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Quote from: tactac on September 26, 2018, 11:17:02 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 it won't work well. it is a government altcoin and will not carry too much meaning. it has no annual revenue, it does not intend to invest. it only gets richer when it receives a lot of taxes from people and businesses.
Altcoin development of a government is actually quite meaningless. we can only borrow money from them and do not expect it to grow strongly. According to me, that is a bad idea.

daarul50

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Quote from: tactac on September 26, 2018, 11:17:02 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?

Precisely this is an advance for blockchain technology because it has been trusted by a government to be adopted even to make its own cryptocurrency. In the midst of many countries that prohibit bitcoin and crypto, with this Japan can be an example for other countries to be motivated to adopt this blockchain technology.

Crypto Girl

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Quote from: shoreno on January 31, 2019, 04:20:46 AM

I dont know if the government will issue their own crypto because they already have their own currency and its enough for them to earn a profit because they can create a supply of it whatever they wanted to.

Many country do already issue their own coins but most of them have failed because they didnt get enough support from their people . this is not a threat to crypto overall .

Just look what happened to Petro, Venezuela's own crypto currency, in which now became useless. It's too controversial as it says it's backed by their oil but unfortunately didn't.

Personally, I don't see myself using government issued crypto currency as yes it's obviously centralized and damn don't trust any of it.
We all love bitcoin and other alts because of its decentralization and after all this is what we're yearning for.

andrei56

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Quote from: erikoy on January 31, 2019, 05:37:52 AM

Quote from: denuhaqiqi on October 14, 2018, 01:43:15 AM

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.

NO, I beg to disagree with this point. I think the government issued crypto will be facing a lot of issues especially with the other currencies like US dollars. There was a concern regarding with the purchasing power of US dollars using crypto. And this is why the United States of America made some ways to avoid putting other countries to bypass in purchasing US dollars using crypto based and dollar exchange.

Any cryptocurrency created by a government will be the same as their fiat but with even bigger problems for us since they will be capable of inserting all kind of malicious code in their coin that you cannot see so if they decide to confiscate your money they could do it very easily so it will be a mistake for anyone that appreciates freedom to support a coin created by any government.

erikoy

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Quote from: denuhaqiqi on October 14, 2018, 01:43:15 AM

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.

NO, I beg to disagree with this point. I think the government issued crypto will be facing a lot of issues especially with the other currencies like US dollars. There was a concern regarding with the purchasing power of US dollars using crypto. And this is why the United States of America made some ways to avoid putting other countries to bypass in purchasing US dollars using crypto based and dollar exchange.

maemunah

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in my opinion it doesn't matter if the other coin coins are still there and for me throwing the coin is bad because there is no problem why is it thrown away? instead we get cheap coin coins and earn a little bit of income

shoreno

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I dont know if the government will issue their own crypto because they already have their own currency and its enough for them to earn a profit because they can create a supply of it whatever they wanted to.

Many country do already issue their own coins but most of them have failed because they didnt get enough support from their people . this is not a threat to crypto overall .

jonaire99

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Governments are known for their centralized governance so we must expect that if they are going to issue their own cryptocurrencies, it will also a centralized one. Issuing their own cryptocurrency will involves their central bank and other finances that vitals to the national economy so government won't going to create a virtual currency that they can't able to control or regulate.

Alexlax

newbie

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This does not make much sense. Because it will not be much like "decentralization". If their currency, they can somehow control it. So so idea.

goaldigger

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Crypto released by government are obviously centralized in nature, however, it can have the government's full support regarding on the peoples needs and technological advancements. The security will also become high and crypto will much safer. The only consequence is that, they will require KYC.

Tanhahaque

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I think it will be great for the crypto trader and a very positive vibe to change through it. And Government take control of it and the big platform will create far soon and the unemployment will reduce. Economically there are many changes happen. But the problem is no freedom at all In this center point of view. It was not easy for the government it takes time to take control of it.

0t3p0t

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Quote from: tactac on September 26, 2018, 11:17:02 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?

Well, I think they will become another form of shitcoins on the market. No one loves centralized asset so I think the cryptocurrency community will think twice in investing such centralized digital money. On the other hand I think investors will take the opportunity or the hype but I know it won't last long. If every country has to create their own digital currency I think crypto related businesses and jobs will be the next big thing as governments will begin to embrace blockchain technology.

Vinalians

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Quote from: tactac on September 26, 2018, 11:17:02 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?

Well that crypto is about to rock their world I guess but there are many problems regarding on that for sure. People in the other country may not promote that because it is centralized and we all know that almost all of us wants a decentralized token or crypto right? If they can improve it for sure many investors will invest in their cryptocurrency.

bajingluncat

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on the basis of crypto currencies is a decentralized currency, in the sense that there are no central bank controls, and the main purpose of crypto is to eliminate the role of banks or third parties. if the government will launch a cripto-like coin, it is not digital money, what is certain is that the government has full control over these coins, even if blockchain technology is implemented, there will still be no "freedom" there

reality18

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This is one of the speculations made by several crypto user that governments might turn out creating their own cryptocurrencies. No one can tell what the future holds exactly but it seems most of the governments are nowhere near the integration of cryptocurrency into their payment systems due to its decentralized nature.

babarian

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Quote from: tactac on September 26, 2018, 11:17:02 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?

government issued crypto currency?
What do you mean by crypto currency?
maybe Japan is just planning to do that. they will surely see and take into account the impact of good and bad on their country.

munareal

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Cryptocurrencies offered by the government should not be different from those offered by other entities. Cryptocurrencies are decentralized and so the government should not try to control cryptocurrencies issued by them. This way people will rust the government coins

imstillthebest

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Quote from: Incodium Coin on January 13, 2019, 09:50:57 PM

It all depends on what government we're talking about. The Venezuelan government issued a cryptocurrency, l don't think l am in any rush to buy that. However, if another government does, one in whom l have confidence, it'll be a no brainer.

you can search the country of venezuela . see if thier president was clean from shady deals and if you verified that he is legit , thats the time to buy and support them but if ever you found out that they are corrupt . just ignore it .

cryptos that issued by governments are centralized or already regulated . im not really a fan of those quality so id rather continue my support for our own cryptocurrency .

astik1

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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.

Topic: What do you think about crypto currency issued by the government? - page 3. (Read 3566 times)