What is the difference? - page 5. | Bitcointalksearch.org

topbitcoin

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Quote from: uneng on December 09, 2019, 08:46:19 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.

What people want is we use bitcoin as payment. I not see people discuss about altcoin as payment maybe some of them yes. But there are a lot of project that allow us to deposit with ETH or BTC but still convert it to fiat. Maybe i will have question like you, because what will be different with digital fiat that already be used by people in a lot of countries.

Eternad

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Quote from: duuuuude on December 10, 2019, 09:02:25 AM

Technologically cryptocurrencies are much better than the notorious electronic money but it is worth remembering that the government is not a white fluffy bunny and the government always needs control over this, few people are currently interested in creating their own state currency, it is simply not interesting to anyone.

Digital currency, as well mobile banking and online transactions are with government consent and they have power over the transactions. Unlike in cryptocurrencies it relies mainly on our transactions. It's just hard to imagined when the time comes that government will have their way to access crypto or have power over it since even it's decentralised they still have say to ban or not allowed their countrymen to use it.

Reid

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We could see that now.
They are creating their own crypto currency which is also equal to how much their currency is.
There is really no difference with that.

They are trying to imply that people are still foolish enough to bite that bait of them. I don't think so.
With the use of internet we could see through them now.
Here you are making the thread. Why? You saw thru them.

duuuuude

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Technologically cryptocurrencies are much better than the notorious electronic money but it is worth remembering that the government is not a white fluffy bunny and the government always needs control over this, few people are currently interested in creating their own state currency, it is simply not interesting to anyone.

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Quote from: uneng on December 09, 2019, 08:46:19 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.

I talked to Someone Who was working on private blockchain for institution like this, i dont really understand the advantage of blockchain when it rely on trusted parties anyway. Maybe it can be an easy way to have a distributed database with cryptography but there are system that are more cost effective for this. Maybe they have their own use case but government are more relying on precise legal code and status and legal identity associated with keys in private consencus protocol, for the archiving aspect of such.

But in any case its a different model than common crypto currencies that you can find on exchanges etc

Soots

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Quote from: uneng on December 09, 2019, 08:46:19 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.

I guess it was a shady tactics that might affect a lot on entire cryptocurrency coins. Government has the chance to penetrate the system of digital currency, which I think creating own cryptocurrency will likely suppress the growth of decentralized assets. Centralized crypto, will be used for regulation and escape goat of government authority.

Landak

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the difference may be in the history of the transaction, if digital and centralization only the government can see the transaction, whereas for crypto it is certainly visible to the public but if controlled by the government it is likely to be made private and only the government knows.

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Quote from: uneng on December 09, 2019, 08:46:19 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.

If this money is not built on Blockchain, why do we need it? It is not worth spending that much time to change today's money to the unnecessary new system. If so, it must be crypto. So crypto is traceable and a copy of each transaction is stored. Establishing a new decentralized system is unexpected, but at least it would be beneficial for us to use the blockchain.

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Quote from: uneng on December 09, 2019, 08:46:19 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.

If people are going to used centralized or back up crypto by any government, obviously it will be recorded in blockchain and the government can follow or track with every transactions they will do in the future.

That's why crypto enthusiast would rather used bitcoin as it is (pseudo) anonymous and it gives up freedom. Digital Cash though, has been with us for years since the advent of internet. You can purchase everything with your credit cards, while centralized crypto are fairly new.

BlackFor3st

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Quote from: uneng on December 09, 2019, 08:46:19 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.

If this happens, the government will surely find a way in order to control the monetary movement of their people and in case the crypto currencies will become the main currency in the future then most of the governments will surely create their own coins/tokens in order to achieve their goal.

It is not easy to replace fiat but if in case the future will dictate it, the governments will surely find a way to make the advantage to them while accepting the digital money as the main currency in the future. Control over things especially in money is the main reason why most of the governments will try to create their own digital cash.

inanilujimi

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Centralized crypto money does not make sense to me, because a centralized cryptocurrency means that it can not be owned by just anyone.
So how can the government make it ??
Whereas digital money that has been through qualifications made by banks and the government and circulation only covers the country.

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Quote from: awik p on December 10, 2019, 12:18:11 AM

Quote from: angrybirdy on December 10, 2019, 12:04:48 AM

Quote from: patz22 on December 09, 2019, 11:42:39 PM

If they will adapt crypto it doesnt mean that they will create their own digital currency. We already have a lot in the sphere so meaning they just need to select which is which but then again it is possible that they will do such move. I am thinking that BTC would be the universal digital currency just in case.

The possibility for it to happen is high, and some country already created their own digital currency.
Those country who's planning to adopt digital currency will most likely create their own digital currency to control and have a benefit for it. They won't use any other existing crypto just to use for their everyday living.

I think the government did it because of the system used. the government seems to be more comfortable with the current system of centralization, which they can control, even though the title is digital currency. different from cryptocurrency, where no one can control it

Different coins from other coins will be very able to lure many people. Because by being a different coin will bring up even more valuable investors. So for different altcoins will be highly supported with such rapid advancements and prosper more than a million investors. Different Litecoin from other altcoins is able to achieve a satisfactory price and ranking. So it was amazing with the presence of the differences.

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Quote from: Getmon on December 09, 2019, 09:58:16 PM

The use of blockchain technology makes all the difference. If it is digital cash it really does not differ much from the current use of cards and paypal and other cashless systems. With cryptocurrency, everything will be publicly transparent. 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.

Naturally they will prefer latter option as they want to be aware who spends what, not the public. If the ledger would be open, they would lose the edge on the surveillance.
It will be horrible for people wanting privacy if the government won't also apply zero knowledge proof for some transactions.

TheClownSong

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Quote from: uneng on December 09, 2019, 08:46:19 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.

Even though the Government will issue its own cryptocurrency, I think it will still be controlled by the central bank. In my opinion, the state cannot arbitrarily issue money because it will affect the economy as a whole.

Bim abk

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Quote from: gensol on December 10, 2019, 05:02:51 AM

Centralized cryptocurrency owned by and controlled by government will be the same thing as fiat currency because its easily regulated. Unlike decentralisation where volatility plays a major role, with government owned cryptocurrency, its going to be more or less a stable currency.

certainly not much different because the crypto currency has government control, but if its purpose is used to utilize the technology it might be possible. but I personally better use decentralized crypto because it is not regulated by an institution

Furryball

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Let government create or build coins for each countries but it won't make a difference because they will be centralized coins and tokens which means they will be able to monitor people, well one of the reasons why bitcoin and many dex token make it this far is because people prefer them over centralized projects, they don't want anything to do with the government

gensol

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Centralized cryptocurrency owned by and controlled by government will be the same thing as fiat currency because its easily regulated. Unlike decentralisation where volatility plays a major role, with government owned cryptocurrency, its going to be more or less a stable currency.

Murat

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I don't think Cryptocurrency will be legalized very soon with the hand of government because they can handle and regulate the money supply and demand whatever the form of payment, So digital money is not a matter in this system, but when the cryptocurrency has come then the government has raised a question about the regulation and control in this monetary purpose so it's really difficult to approve cryptocurrency from the government end, I think decentralized system is the main point for them on this issue, so the main difference is the decentralization system following my experience so far.

danherbias07

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Where do you store digital cash? Banks? They will provide some code or a QR code for you to scan whenever you make a payment.
Same goes with crypto currency. You might be using QR code or a paper wallet.
The difference is where you store it.
You own it. It is yours, it is not in the handle of any institution which they could use for investing. They will just be the one making profit for your saved money.

Another is the we can now see the transaction. Transparency is there. Could be used for anti-money laundering, just in case.

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There's so many reason why other country want and also don't want crypto currency to become their fiat currenxy

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