What is the difference? | Bitcointalksearch.org

GideonGono

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

There are pros and cons always so if there are maybe better happen but there will have a worst happen. If this was promoting by a government then they will hard to stop it when sometimes doesnt good happen because they already started and they can't control crypto by their own hands so they have or think wise before they do that.

mr_random

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The blockchain is based on math and technology, there is no similar features of the recent traditional monetary system and elecetornic/digital cash. The math-based digital cash will be available for everyone but the USD based global economy is dangerous at this point. FED can print any amount of cash with pressing a single button but it wouldn't be possible in the blockchain-based digital cash. Just my 2 cents.

HabiebRiziq

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Quote from: TheClownSong on December 16, 2019, 12:03:19 AM

Quote from: Itsmylife on December 15, 2019, 09:31:30 PM

Quote from: zenhu on December 15, 2019, 05:12:21 PM

I think in any goverment they can't replace fiat money, so difficult to change a national currency to be crypto. There are many program cashless with their own currency in every country. I think they just addopt the technology, remember that high volatile cash in value can't be accepted by people.

Cryptocurrencies are created on the principle of decentralization and anonymity, but all governments want to control cryptocurrencies to protect their economies so that they do not now recognize cryptocurrencies. But I think in the future, when blockchain technology is widely used, every community will create a type of cryptocurrency, which they can control, to represent them.

In my opinion the government wants to control cryptocurrency because of several factors. One of them is so that cryptocurrency does not interfere with the dominance of fiat money and also to get taxes from cryptocurrency transactions. I think the Government will recognize cryptocurrency sooner or later because technological development cannot be dammed by anyone

Yes, the government must be able to control so that cryptocurrency does not interfere with fiat money. And I think if the government cannot control this there might be something that becomes a problem in the exchange rate and maybe slowly the government will also begin to understand the development of cryptocurrency and slowly be accepted by many people.

devillnj2.1

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there are some other countries that accept crypto currencies as mode of payment for gas, groceries and other products and services, digit money is very different in crypto currency, digital money is still fiat value, you just store it in a digital wallet like credit or debit card, crypto currencies adoption for government is possible but to replace local money not this time, but in the near future if people fully understand crypto currencies and all problems in crypto currencies resolve that would the time for new era of money evolution.

Perfect35

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Governments will not make the mistake of replacing Fiat with digital crypyocurrency, because it also has its importance. As a matter of fact, not everyone would want to use government digital currency, because of its centrality and no one will be compelled to use it. In a democratically led government, there will always be choices.

pgbit

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Just take a look at what the Chinese Government is doing right now, taking every opportunity to restrict the activities of most Cryptocurrency projects and even going as Fara s banning bitcoin mining rigs and all these are after they have announced their interest in launching their own Cryptocurrency, I believe all these activities and lockdown of other Cryptocurrency projects is to shift the focus fully on their own Cryptocurrency when it launches and I am seriously beginning to doubt if it would have any element of decentralisation at all.

bohr

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Quote from: fuer44 on December 19, 2019, 08:27:40 PM

actually I also do not agree with discourse or thoughts like that. if the government legalizes crypto and makes it centralized, then the actual crypto function is lost here because it will be the same as fiat transactions in digital or online form. I think it's better like this, crypto let it have its own space and the government is enough to not prohibit it.

Not going to happen, governments until recently controlled all forms of money, but then cryptocurrencies appeared and they challenged that authority and governments are not going to like that because now you have the option of not using their fiat currencies which as we know is a system that benefits them and anyone that is their ally, and they do not want that to change as such they are never going to allow cryptocurrencies to grow on their own without any kind of supervision coming from them.

nicolas1979

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Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

No need to create new crypto, government only need to enter crypto into their financial instrument and give regulations to control it. Digital cash is method is reduce fake and physical money, have no correlation with centrelized crypto anyway. Government need wise respond about crypto, like or not crypto help people to get income when government can't provide job. That's the fact and as crypto user we need to keep support crypto in every section using promotion, education and free job.

karanggatak

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I think there really is a difference between government-made crypto currencies and digital currencies. Digital currencies are usually issued by startups and we usually buy these currencies through banks and this technology does not use a blockchain. and digital currencies do not have volatility. but the crypto currency is always based on a blockchain and its value will fluctuate and later this government-made crypto currency will be controlled by the government.

starblocks

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What you are referring to are Central Bank Digital Currencies (CBDC)'s and there will be some launched starting from next year and they are centralized and a digital version of cash except the difference will be the ledgers will likely be public so anyone can see the transaction just not who's transacting

rmhuntley

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Quote from: crossabdd on December 09, 2019, 09:52:23 PM

the difference is the power of the system. Blockchain financial system is more powerful than a bank financial system. from blockchain safer security. so basically it doesn't make a new crypto currency. but moved the system and network of digital currencies to crypto. so it's safer. but the real desire in society is about decentralization. so they have full rights to their assets

Yes agree what you say, if the government wants to make its own crypto and impose the public to use as currency then the community desires in crypto only one as long as it can be fully controlled assets by the community itself. I think it's safer.

CarnagexD

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Quote from: letyouearn on December 21, 2019, 01:57:48 PM

Governments may just imply blockchain and improve already existing digital currency systems. But of course this new system will be centralised and even more cabalistic.

Governments are really against with the cryptocurrencies but let us not expect for them to welcome the cryptocurrencies as a whole but rather the blockchain technology that bqcks it up. Let us be real government does not any decentralized syst overcome them as it will result to uncontrollable freedom to the peoplr that would cause an economic confusion. It is good to see great news abput cryptocurrencies let us not expect a lot from it.

letyouearn

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Governments may just imply blockchain and improve already existing digital currency systems. But of course this new system will be centralised and even more cabalistic.

FairUser

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Because they have full control over the cryptocurrency they create, and they have control over its price like cash. So that banks and governments don't like bitcoin and the current altcoins, there is now a lot of news that some governments are experimenting with cryptocurrencies and will be operational by 2020. If they decide to put it into operation, I hope it will not adversely affect the current market

Sembadapuja

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Everything is done within the network and every single person can view the transactions within a public ledger. But it could also be made a private ledger if the government prefers. If the government legalizes crypto, this could be a way of mass adoption. crypto is not only used as a means of payment. Of course there would be changes as to how we see crypto now to the time that it's widely accepted.

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Quote from: makolz26 on December 20, 2019, 10:38:14 AM

Quote from: BChydro on December 20, 2019, 05:59:20 AM

Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.

Many people might dream that the government will adopt crypto currency but that is far from the truth and no government will pass those adoption but all the governments around will world will look for a digital platforms and might force the citizens to use every transaction digitally so that they will have complete control over the finance and monitor every transaction and they might integrate blockchain at a later time.

So far the adoption of crypto by the government will for sure happen in the future, let's not close the door for it as we need our government to handle this kind of matter, although they can't control but at least have some regulations that they will implement for the protection of the team of the project and especially investors.

I still doubt that cryptocurrency will be adopted by the government if viewed from the governance system in my country. maybe not all countries, but there are too many cons regarding crypto if it is related to the financial industry. moreover it is only a project in which a project is rarely realized in the long term.

batang_bitcoin

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Quote from: andriarto on December 20, 2019, 02:58:16 AM

Quote from: batang_bitcoin on December 20, 2019, 12:25:36 AM

Let's just embrace the reality that we are still far from that scenario that we will use crypto in our daily lives and replace fiat which we are already used to. The government is very strict with this kind of innovation because it evades their centralized power and authority.
They might just inform the people that centralized crypto that they'll create is just the same as digital cash to avoid confusion from explaining it.

if the government does that, I think it is no different from the current fiat currency which has a centralized system. in this case the form is only different. freedom of transactions with a decentralized system, in fact no one can control it, all purely from demand and supply

Yes, that's the point. The form is in digital but there's no actual difference from the currency that we've used to use. There's already digital cash that payment processor offers, these are the known third party companies that provide services to their consumers.
It's decentralized so obviously, there's no one that can control it. There could be manipulators that agree to do the same thing as they have the power to move a bit the demand which we always suspect of manipulation.

Henrytrust

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The government would certainly prefer to have their own cryptocurrency so as to have control over the value and ensure that its relatively stable. It may be easier to get such tokens exchanged for other more popular cryptocurrency like bitcoin. It would be a great boost to the financial freedom dream which cryptocurrency is Striving to accomplish.

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Quote from: Rodeo02 on December 09, 2019, 08:17:05 PM

Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.
But my main concern is: why would they do this if there is already digital cash?
Isn't a centralized crypto currency the same than digital cash? What is the difference, if there is any?

Share your thoughts, please.

Transaction history. You can find transaction history publicly by searching a certain public address. Unlike digital cash that you can only see transactions if the owner of that money show it to you.
If the government adopt that it will help them to monitor every balance enter on that address and they will know how much money in it.

I think it's beyond Blockchain transaction history. Afterall they have more advantages with the current bank ledgers. They will probably go for private "Blockchain" or for some sort of immutable ledger/pseudo-Blockchain. I bet there are serious research towards this or they already have the solutions.

makolz26

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Quote from: BChydro on December 20, 2019, 05:59:20 AM

Quote from: uneng on December 09, 2019, 07:46:19 PM

Many people want to see their governments adopting crypto currency and using it to replace fiat in their daily life. If it happens futurely, it will be in a centralized way of course. Governments will create their own crypto currencies and force people use it.

Many people might dream that the government will adopt crypto currency but that is far from the truth and no government will pass those adoption but all the governments around will world will look for a digital platforms and might force the citizens to use every transaction digitally so that they will have complete control over the finance and monitor every transaction and they might integrate blockchain at a later time.

So far the adoption of crypto by the government will for sure happen in the future, let's not close the door for it as we need our government to handle this kind of matter, although they can't control but at least have some regulations that they will implement for the protection of the team of the project and especially investors.

Topic: What is the difference? (Read 1071 times)