What is the difference? - page 6. | Bitcointalksearch.org

asriloni

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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 believe if the real intention from them to create a centralized crypto to take the hype of crypto. As far as I know that some countries have planned to launch the digital cash and not stable crypto that backed by fiat money. if that centralized comes from the regulators and there is not differences caused by both that crypto and digital cash backed by the regulation. '
When it comes to the a traditional centralized crypto that issued by a company like tether and what makes it become different than digital is about the regulation that backed it.
But again, both are still in the same definition as a digital money system.

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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.

Faster and easier transactions through blockchain, i guess? Though you're not sure that that's how it will be, that governments will force people to use their own crypto. I don't think that'll work. They'll probably set a middle ground for compromise when it comes to decentralization. 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: 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

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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.

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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.

Aabcde

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The government does have a role related to policies in its own country. Which is in the sense that if the cryptocurrency situation is increasingly developing, surely there is no choice for a country to create its own cryptocurrency. This is to avoid being left behind by other countries that have adopted it. Furthermore, digital cash is usually held by private companies that are not under the control of the government, so it's only natural that the government will create a new one whose control is full on them. On the other hand, this does not make any difference, but the government also does not want to be outdone by its own people. If the government cannot accommodate its people and companies can do that, then the power of the government will diminish. So I don't think the government cares about the similarities between digital cash and crypto.

antsam

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Digital currency is just another form of currency besides coins and paper, the value is the same. So in my opinion it's two different things compared to crypto money. Crypto is better able to break the boundaries that currency cannot penetrate, crypto is simpler and safer in my opinion

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The difference that I understand between centralized crypto and digital cash is that digital cash is very centralized which is only owned by the developer meaning that the value we have is not a real value different from the crypto even though there are centralized the owners of the crypto have full control because have direct access by having a Private key. The bad thing is that everything is controlled by a particular institution or group such as a developer.

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if you look at digital money every transaction is not public the same as BANK, so why does the government prohibit Bitcoin and other crypto currencies, because their transactions are recorded publicly so that everyone can see each other's transactions, in fact bitcoin and cryptocurrency can be used at government to eradicate corruption, because their transactions are visible to everyone

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I think the difference between the two currencies is technological. Centralized cryptocurrencies of governments will use blockchain technology, which will make it more secure, cheaper, but it still has the characteristics of fiat currencies.

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Fiat are regulated by government like they have access in every transaction of your money then non stop fees and here in crypto with digital currency no regulator with low fees after you use this in one time only then you save it in your own place,Moreover here in our country we have wallets with fiat currency and digital currency wallets like with btc,eth,bch,xrp wallets so we can regulate cryptocurrency already

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There is no factual difference, the government will only move digital money into the blockchain cryptographic space with a transparent node recording public transactions. Usability will still be as usual, but received official support as a currency.

From there they will adopt many new things, one of which is as a link to how they finally filter the other crypto trade to enter the regulatory gate using the crypto pair provided.

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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

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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.

yes you're right, crypto issued by the government cannot be said to be crypto. so none of that will help improve the crypto market. but what about the big projects that will be launched in the future. if the government legalizes crypto, this could be a way of mass adoption. crypto is not only used as a means of payment. there is a lot that can be done by this technology and projects that are currently proven. so what is needed is a regulation that legalizes crypto, not the government to replace its currency with crypto.

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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.

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.

Edraket31

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I think they will just adopt it in a way as an alternative crypto payments, as an alternative money, but will not fully adopt it as a the only legal tender, they won't allow this for now that they will make it their own country having a less society unless they have fully understand the concept, the advantage/disadvantage and how people are going to react, but up to this point it is still impossible.

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If the government uses cryptocurrency as the main transaction, all transactions will be seen by anyone and there will be no transparency. this will be a pro and a prolonged con. Digital money is currently used and provided by banks, held and regulated by the government so that it will have full control. if the government creates a new digital currency based on cryptocurrency it will be distinguished from the Fiat currency in circulation and there will be new regulations related to cryptocurrency currencies.

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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.

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.

uneng

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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.

Topic: What is the difference? - page 6. (Read 1060 times)