What do you think about crypto currency issued by the government? - page 8.

jack1111

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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?

This kind of tokens is different from what we know, because they can freeze your balance, add new tokens whenever they want, and it will have stable price. So you can consider it as digital version of a fiat currency, because the government still has control over it.

PlusOne88

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Well if this is true this should create new opporyunities in this side of the technological advances. Maybe it could boost cryptocurrency usage and as well may destroy small cryptocurrencies because it is certain that this would create a real competition among cryptocurrency usage.

KorakPawon

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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?

If central banks really create their own crypto, I think it will not be far from what they've already run like fiat. The difference with bitcoin is that their crypto is still controlled, while bitcoin isn't. They creat their own crypto is of course for grabbing people attention, lead people to stay with them and unintentionally provides choices for doing transaction. In other words, seems like banks are trying to get rid of bitcoin.

carlisle1

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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?

Japan had accepted bitcoin as their own currency who’s functioning like Yen in their region ,thats why i see no reason about them making own cryptocurrency while they had been one of the first country to trust and adapt crypto.but if thats the reality i guess thats a centralized and not loke what we are having here

dr_chen

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If goverments can't find a way to implement taxes or lose some of their control on traditional markets, they will do this and issue cryptocurrency. Of course it will harm decentralization of the crypto market but the market will become more attractive to the investors and process of adoption of the cryptos like BTC will also speed up.

pedangrusak

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if a country publishes its own cryptocurrency it will look better in everything. starting from planning, integration to the many fields they will make, and many other things they will do for the community. This crypto currency will be tested with Fiat and which will be more effective for the future

Sirait

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this has actually long been predicted that every country in the future will surely issue their own cryptocurrency. so in the future all fiat currencies currently circulating will be created cryptocurrencies themselves, for example, the Dollar and then there are Dollar cryptocurrencies, there are two outstanding currencies, fiat dollars, and cryptocurrency dollars.

millionaireshs

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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?

If ever there is a Government issued their owned cryptocurrency it means they are capable to operate using high technology all the time almost all transaction there is used in digital technology. so theres no problem about central bank regulated of crypto currency as long as they would create a good benefits for their constituents. so go ahead that's not bad.

junglist.massive

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I bet they won't dare to create a new currency, rose is still rose even if it’s an emoji on your keyboard to represent rose. In my opinion their rival is not cryptocurrency but PayPal and other online payment gateways that still use fiat as their value of money.

YOSHIE

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

How do you think about these crypto?

I think in this case the Bank takes a policy of adopting a crypto currency that is very supportive and very positive, this is a good example for all banks.
Maybe the central bank's policy can improve crypto for the future and can be useful to the wider community.

Semosuchi Tesongrato

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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.

tanxpresisit514

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Quote from: warcarft3 on November 20, 2018, 01:49:20 AM

This is the path of cryptocurrency development. In the future, many coins will disappear in addition to Bitcoin. When the government issues coins, the impact on cryptocurrency is huge. Perhaps this time bitcoin prices will return to $3,000.

If the government issues cryptocurrency means legal, the impact on cryptocurrency can be very large, because public trust is higher than independent cryptocurrency. Policies supported by the government have a very strong legal basis, so that all users will feel calm in carrying out transactions or investments.

forked human

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Quote from: Indai24 on November 18, 2018, 11:08:34 AM

Quote from: Indamuck on November 18, 2018, 10:36:48 AM

It wouldn't be a true cryptocurrency if it was backed by a government because they would have the power to set inflation and seize coins if they wanted. Maybe it could work if it was truly decentralized and you were in complete control of your funds but I'm still skeptical. Why use government currency when we have money backed by the people.

Government crypto currency doesn't exist and will never be exist, they don't support crypto and that there's no way for them to like it as well.

I often said this, how can a single government can start its own currency. And let’s suppose they do; the restricted number of users would use it and there wouldn’t be much obvious change in economy of the country.

Cling18

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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 guess, it would be a great idea since it would be useful for a certain country to have it's own cryptocurrency. There are still lots of things to consider since the government would be involved. However, it is still important to have a decentralized cryptocurrency which is not manipulated by the government.

mrcash02

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Quote from: squog on November 20, 2018, 09:16:09 AM

I think crypto currency issued by the government and is backed by the government would be calling the same animal a different name. It would still work like a fiat and they could control it but still disguised as decentralized crypto currency. They would either ban any other crypto currency adoption in their country or tax other crypto currencies higher.

Seems a good idea if they create their own currency, but giving the option of using decentralized Crypto-Currencies too to their citizens. The problem is to forbid one kind (the decentralized one) to force everyone to use the one they want (centralized). Indeed a centralized Crypto-Currency created by a government would be very similar to fiat, however they would be using a new technology, what would be already an advantage, an improvement compared to the old system.

South Park

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Quote from: warcarft3 on November 20, 2018, 01:49:20 AM

This is the path of cryptocurrency development. In the future, many coins will disappear in addition to Bitcoin. When the government issues coins, the impact on cryptocurrency is huge. Perhaps this time bitcoin prices will return to $3,000.

And why do you think that bitcoin is going to disappear just because the government creates their own coin? Even if they create their own cryptocurrency that cryptocurrency is not going to have the very same characteristics as bitcoin, which means that it is not going to be a direct competitor and when that cryptocurrency crashes like everything that the government creates we will need an alternative currency and that could be bitcoin.

stoxalpha

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Quote from: Maheshkumar_Hrangkhawl on October 14, 2018, 04:05:01 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.

But in fact, the government will use a centralized approach to managing cryptocurrencies. You see that XRP is now ranked second. All of its prices are so expensive because there are governments that support such coins. There are only a few coins that may be scattered in the future, and most of the coins are centralized.

squog

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I think crypto currency issued by the government and is backed by the government would be calling the same animal a different name. It would still work like a fiat and they could control it but still disguised as decentralized crypto currency. They would either ban any other crypto currency adoption in their country or tax other crypto currencies higher.

tradjecide

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Quote from: perfect999 on November 15, 2018, 05:45:27 AM

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 don’t think the government will do such a thing, maybe they will produce cryptocurrency dollars, but we are not sure of that yet. Not everyone is ready to be making use of cryptocurrency as a way of making transactions. I have heard a lot of people talk about Sweden, but I’m yet to understand what they mean, is it that Sweden is making use Bitcoin or they are just going tech?

Well I think this central banking would lead bitcoin again to centralization of money. Notwithstanding the decentralized nature, bitcoin would become a game of few hands later.

aizen10

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If that happen, that the government issued their own crypto currency, that is sure it will centralized , that they have their own power to control all the price value of it in the market which is not crypto currency is. This will sure an obvious anomaly.

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