I don't think that many countries will creat an own cryptocurrency.
All the cryptocurrencies you see right now can be devided up in two groups:
Those who are completely obsolete and those who are assets.
I see no cryptocurrency at the moment that would be a medium of exchange.
But that is exactly what a currency should be!
The big ones are objects of speculation, the small ones, honestly I don't know why they exist.
I think that governments have already noticed that trend as well.
Topic: Will countries launching their own cryptocurrencies affect bitcoin? (Read 4532 times)
August 20, 2017, 03:24:50 AM
June 21, 2017, 04:01:04 AM
There is no way it wont affect bitcoin but not massively because majority of users of bitcoin are not basically just using it for local transactions only rather for dealing with citizens of other countries which I feel national crypto-currencies will be limited and there wont be any difference in the way the current fiat is. But at the same time if there is no restriction to the use of the internet then I see no serious threat against the continued dominance of bitcoin over other national crypto currencies.
June 20, 2017, 01:55:29 PM
The only way it's going to do anything is if this country is going to be promoting this cryptocurrency as the new official currency and the only one that can be used within the country. If they're doing this, it's going to force BTC and other mediums to be stuck and to kinda have to be stopped usage in the country or risk repercussions from the government. If a country is just launching one to launch and try to ride on this market or something that's not going to do anything in the least.
So, maybe it'll affect bitcoin if this leads to Bitcoin becoming illegal in some places due to the government not wanting to compete at all.
So, maybe it'll affect bitcoin if this leads to Bitcoin becoming illegal in some places due to the government not wanting to compete at all.
June 20, 2017, 09:39:09 AM
maybe some of them
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
well those mention countries are a well known countries that surely can adopt this system and create their own project, but because of some possible concerned they are not implementing or making it to public bitcoin already gather much attention mainstream and surely a lots of established countries already notice the big potential.like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
June 20, 2017, 09:33:53 AM
I think in that case a situation will be created like what is now created in the fiat currency. like every country have their own currency and they are using them for their national use while there is another currency wich is dollar which is used for worldwide use so when every country will have their own coin then their coins will be used for national use and bitcoin will be used for worldwide businesses.
What an analysing man, yes you are right now every country having their own currency but we can use Dollar anywhere in the world. This becomes like global currency like that suppose if all countries created their own crypto coins then the bitcoin will become the global crypto coin. We can exchange any coin with bitcoins. June 20, 2017, 09:30:21 AM
A growing acceptance of crypto currencies, be them centralised or otherwise, will only have a positive effect for Bitcoin. I have noticed that the more 'genuine information' people discover about Bitcoin, the more they like it.
June 20, 2017, 09:08:50 AM
I wonder what the crystal ball gazers on here say about bitcoin becoming the world index reference, much like USD are today or gold used to be.
June 19, 2017, 07:35:40 PM
By taking a look at a few exchanges and seeing their list of coins you'll realize that no matter how many other coins decentralized or not.
Bitcoin is the king and will remain as so. what is the difference between a country's currency whether it's in digital form or not? I'll tell you
Nothing, there is no difference, even now with the platforms such as ethereum it's very easy to launch a crypto coin than ever before.
You'll just need to set the total supply and that's it you have your coin just like that, I don't see any of them having any impact on Bitcoin.
Bitcoin is the king and will remain as so. what is the difference between a country's currency whether it's in digital form or not? I'll tell you
Nothing, there is no difference, even now with the platforms such as ethereum it's very easy to launch a crypto coin than ever before.
You'll just need to set the total supply and that's it you have your coin just like that, I don't see any of them having any impact on Bitcoin.
June 19, 2017, 07:00:00 PM
maybe some of them
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
well those mention countries are a well known countries that surely can adopt this system and create their own project, but because of some possible concerned they are not implementing or making it to public bitcoin already gather much attention mainstream and surely a lots of established countries already notice the big potential. like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
June 19, 2017, 06:19:31 PM
I think in that case a situation will be created like what is now created in the fiat currency. like every country have their own currency and they are using them for their national use while there is another currency wich is dollar which is used for worldwide use so when every country will have their own coin then their coins will be used for national use and bitcoin will be used for worldwide businesses.
June 19, 2017, 06:17:26 PM
if countries will launch their own coin then they will like people to adopt their own coin and they will convince everyone to use only their national coin so it will affect bitcoin but still bitcoin will used for international use.
June 19, 2017, 06:13:18 PM
It would only appeal to newcomers. Many of the early bitcoiners joined for the very precise reason that they do no trust their government, the central bank and/or local currency. Imagine China or Russia launching its national cryptocurrency. No foreigner would buy it, and locally, only hardened government' supporters would get it. They're all doomed to fail.
June 19, 2017, 06:06:47 PM
I don't think so if it's going to affect bitcoin in any way. The governments of such countries would be using or misusing there so called cryptocurrencies in the same way they have been their fiat currencies. The cryptocurrencies developed or designed by them will have the same flaws their fiat currencies have so it will never affect bitcoin. Bitcoin is unique and original. Bitcoin has taught us all what an ideal currency should be so no threats for bitcoin from such so called cryptocurrencies backed and supported by the governments of various nations.
June 19, 2017, 05:47:56 PM
maybe some of them
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .
June 19, 2017, 03:35:29 PM
Yes because if there would be cryptos in their country they would try to make use of it. And since it is new its price still low and many could afford it. It will affect the bitcoin but not that much. Cause prices of cryptos in their country would depend on bitcoin .
Bitcoin will crash them all because those cryptocurrencies will be localized and nobody will know it beyond the birders of those countries. Likewise the only the exchanges in those countries will recognize them therefore international transfers might not be possible with those Altcoins. I don't think they are going to have any effect on Bitcoin and they even have feasibility problems.
June 19, 2017, 07:36:00 AM
Already,some countries have created their crypto currency.For example..E dinar.Those currencies are for their country use only.No people from outside the country would show interest in buying such currencies.But bitcoin is a universal currency bought by people of all countries.Such countries are centralized and controlled by governments.But bitcoin is not centralized and uncontrolled by governments.So bitcoin would be in the favourite list of investor and such currencies would not affect bitcoin.
June 17, 2017, 02:28:40 PM
Countries launching their own digital currency will always help the financial advancement within the country. This doesn't have anything to do with the bitcoin as the bitcoin as the features bitcoin has got can't be used anywhere else.
It will affect Bitcoins and other altcoins in many ways, think about the reason why countries want their own currency, so that they can manipulate the value of it and if they gain popularity then the next step would be banning other cryptocurrencies.
The launch of new altcoin in a country will still have an effect on bitcoin because after all it will still use bitcoin as a price benchmark, altcoin are not directly paired with fiat because the cryptocurrency is a system that can only be applied in online space. Of course this will also affect the bitcoin price because the volume of altcoin-bitcoin conversion will automatically increase.
June 17, 2017, 12:38:21 PM
Countries launching their own digital currency will always help the financial advancement within the country. This doesn't have anything to do with the bitcoin as the bitcoin as the features bitcoin has got can't be used anywhere else.
It will affect Bitcoins and other altcoins in many ways, think about the reason why countries want their own currency, so that they can manipulate the value of it and if they gain popularity then the next step would be banning other cryptocurrencies.
The launch of new altcoin in a country will still have an effect on bitcoin because after all it will still use bitcoin as a price benchmark, altcoin are not directly paired with fiat because the cryptocurrency is a system that can only be applied in online space. Of course this will also affect the bitcoin price because the volume of altcoin-bitcoin conversion will automatically increase.
June 17, 2017, 12:26:17 PM
Countries launching their own digital currency will always help the financial advancement within the country. This doesn't have anything to do with the bitcoin as the bitcoin as the features bitcoin has got can't be used anywhere else.
It will affect Bitcoins and other altcoins in many ways, think about the reason why countries want their own currency, so that they can manipulate the value of it and if they gain popularity then the next step would be banning other cryptocurrencies.
June 17, 2017, 12:22:00 PM
Countries launching their own digital currency will always help the financial advancement within the country. This doesn't have anything to do with the bitcoin as the bitcoin as the features bitcoin has got can't be used anywhere else.
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