Topic: What do you think about crypto currency issued by the government? - page 7. (Read 3627 times)
January 02, 2019, 01:16:52 AM
I think this is better than our current system but in ways defeats the purpose of what a cryptocurrency is supposed to represent.
January 02, 2019, 12:00:19 AM
It is very unlikely that a government would create a decentralized cryptocurrency like Bitcoin, and people would not trust it anyway. One of the main points of Bitcoin is precisely to separate coin from state, to quote Antopoulos:
Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted. -- Andreas Antonopoulos
If the government is unable to control it, then they might as well adopt Bitcoin or legalize it. Now that would be progress. Odd that Japan retracted from treating it like a coin and think of treating it as an asset.
But anyway I don't think any government issued crypto currency has a future, unless its truly decentralized like Bitcoin is. But then why bother making "yet another altcoin"? Marketing? "national pride"?...
Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted. -- Andreas Antonopoulos
If the government is unable to control it, then they might as well adopt Bitcoin or legalize it. Now that would be progress. Odd that Japan retracted from treating it like a coin and think of treating it as an asset.
But anyway I don't think any government issued crypto currency has a future, unless its truly decentralized like Bitcoin is. But then why bother making "yet another altcoin"? Marketing? "national pride"?...
January 01, 2019, 10:00:53 PM
If a cryptocurrency created by the government, it is not decentralized cryptocurrency anymore, not a revolution of the currency and not the future for the digital currency.
Because they want to control cryptocurrency with the banking system, all transactions will always be monitored by the government, and we as crypto holder will be imposed the tax.
of course from that the government still wants to be in control. I think it is the same as the country's fiat currency, but it is only realized in digital form. and I think that is different from crypto essence Because they want to control cryptocurrency with the banking system, all transactions will always be monitored by the government, and we as crypto holder will be imposed the tax.
January 01, 2019, 08:26:34 AM
This is very good for the cryptocurrency market. At that time, Bitcoin will once again be take off.
Then what was the purpose of Bitcoin at the first instance, It was introduced to curb centralization and explicit control of the government over native currency, Any cryptocurrency introduced by the government will about nothing but complete centralization as the name implies to Govern "Conduct the policy, actions, and affairs of (a state, organization, or people) with authority." Why would anyone want this ?
January 01, 2019, 07:51:49 AM
This statement quoted here explains it all "Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own." -- Satoshi
January 01, 2019, 07:35:07 AM
If a cryptocurrency created by the government, it is not decentralized cryptocurrency anymore, not a revolution of the currency and not the future for the digital currency.
Because they want to control cryptocurrency with the banking system, all transactions will always be monitored by the government, and we as crypto holder will be imposed the tax.
Because they want to control cryptocurrency with the banking system, all transactions will always be monitored by the government, and we as crypto holder will be imposed the tax.
January 01, 2019, 04:48:49 AM
This is very good for the cryptocurrency market. At that time, Bitcoin will once again be take off.
Then what was the purpose of Bitcoin at the first instance, It was introduced to curb centralization and explicit control of the government over native currency, Any cryptocurrency introduced by the government will about nothing but complete centralization as the name implies to Govern "Conduct the policy, actions, and affairs of (a state, organization, or people) with authority." Why would anyone want this ?
January 01, 2019, 04:37:12 AM
This is very good for the cryptocurrency market. At that time, Bitcoin will once again be take off.
Then what was the purpose of Bitcoin at the first instance, It was introduced to curb centralization and explicit control of the government over native currency, Any cryptocurrency introduced by the government will about nothing but complete centralization as the name implies to Govern "Conduct the policy, actions, and affairs of (a state, organization, or people) with authority." Why would anyone want this ?
January 01, 2019, 04:28:16 AM
A cryptocurrency run by the government is a contradiction in terms and a foolish idea: the bitcoin was born precisely to free itself from the power of states and banks; giving it back means to commit a big stupidity.
Governments will not ask us for opinions. They will issue their own centralized cryptocurrency, which will actually be the national digital money. I take this intention quite positively. Such a cryptocurrency will cause an additional interest in all cryptocurrencies and will strengthen their intention in that this is not a fraud. Yes, and look at the circulation of such cryptocurrency would be interesting. January 01, 2019, 03:23:43 AM
Crypto released by the government is the instrument of control. I do not like that idea.
And I doubt if the future of government-issued virtualcoin will become successful because of what happen to Venezuela owned cryptocurrency. To become successful, the future government-owned cryptocurrency should have a big support from crypto investors and people. But since most of the cryptocommunity don't like theidea of cebtralized virtual currency, it may not get a sufficient supports.
December 22, 2018, 12:59:37 AM
It will actually be the same national money, only in the digital shell. Since centralized cryptocurrencies of states will still be considered cryptocurrencies, they will attract the attention of people and the popularity of all cryptocurrencies will increase. People will see that even the states issue their coins and the credibility of the decentralized cryptocurrency will increase. Therefore, I have a positive attitude to the centralized cryptocurrency of states.
December 15, 2018, 04:37:07 AM
At present, the government will not issue its own coins, but the government is paying close attention to the cryptocurrency market. In the future, they may issue their own cryptocurrency at the same time. This is very good for the cryptocurrency market. At that time, Bitcoin will once again be take off.
December 12, 2018, 11:09:23 AM
In my opinion it will be best if the the government issue crypto they should apply it to monitor government funds on how they spend people’s taxes. You know government has a lot of dishonest practices instead of replacing fiat to crypto why not make people taxes transparent on how they spend and allocate those budgets it will make sense for sure.
December 12, 2018, 07:41:09 AM
A cryptocurrency run by the government is a contradiction in terms and a foolish idea: the bitcoin was born precisely to free itself from the power of states and banks; giving it back means to commit a big stupidity.
I do not see a problem with a government to issue a cryptocurrency and to apply it in their own for good to showcase transparency and limit corruption in their system. If it is being introduce also to all investors around the world then same as other crypto will going to happen. The crypto will be listed in an exchange and it will be used to utilize in every government departments in doing payments. December 12, 2018, 02:24:46 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?
How do you think about these crypto?
If central banks creating their own cryptocurrency, its must be different with their own fiat currency. Cryptocurrency should be decentralized and central banks always want to print money from thin air. But if central banks decide to release their decentralized cryptocurrency, i think that will be good for market
December 10, 2018, 02:14:47 AM
if it happens, the existence of BTC will be truly threatened, because support from the government will never betray the Japanese population, so that the security and progress of the country that officially releases cryptocurrency and is centralized by the state, may last longer and can be used commercially
the government must always think about the economic stability of the country, so that community service and also the small risk will be preferred in every decision
I don't think so, because the cryptocurrency they released will definitely involve bitcoin in exchange, so I'm sure that will make bitcoin better. But if they don't involve bitcoin in exchange, then I'm afraid the cryptocurrency they release will not be able to grow like Bitcoin. the government must always think about the economic stability of the country, so that community service and also the small risk will be preferred in every decision
December 10, 2018, 02:09:00 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?
How do you think about these crypto?
If central banks creating their own cryptocurrency, its must be different with their own fiat currency. Cryptocurrency should be decentralized and central banks always want to print money from thin air. But if central banks decide to release their decentralized cryptocurrency, i think that will be good for market
December 09, 2018, 06:42:45 PM
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?
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.
December 09, 2018, 06:34:53 PM
I think it's good, if the government will issue its own crypto currency. because that means the government is willing to accept crypto. and if it will happen in Japan, and overtake other countries, it will also mean crypto will become more global.
December 09, 2018, 05:09:41 PM
if it happens, the existence of BTC will be truly threatened, because support from the government will never betray the Japanese population, so that the security and progress of the country that officially releases cryptocurrency and is centralized by the state, may last longer and can be used commercially
the government must always think about the economic stability of the country, so that community service and also the small risk will be preferred in every decision
the government must always think about the economic stability of the country, so that community service and also the small risk will be preferred in every decision
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