Topic: Will countries launching their own cryptocurrencies affect bitcoin? - page 4. (Read 4532 times)
June 15, 2017, 09:19:01 AM
Bitcoin is really so important to me. Because bitcoin can help me with my financial needs and it is really helpful because it is not time consuming and by your minimum time you are able to earn a lot of bitcoin.
June 15, 2017, 08:59:31 AM
I think it will not affect bitcoin because
it has a strong foundation that will not
easily brake.
it has a strong foundation that will not
easily brake.
June 15, 2017, 08:22:27 AM
It will affect Bitcoin to a certain degree because many Governments and central banks will create digital currencies and utilize blockchain technology and people will want to move to those if they trust the banks enough, but many people still like Bitcoin because it goes against the norms which is what Bitcoin is all about.
June 15, 2017, 07:45:53 AM
A couple of countries have launched their own cryptocurrencies and some are planning to do so. The governments know that bitcoins can't be completely centralized and hence creating their own fully centralized version of cryptocurrency. Legalising bitcoin and making it a part of a country's financial structure is in no doubt beneficial for bitcoins growth, but instead using blockchain technology to roll out their own digital currency and ultimately banning bitcoins, would it affect bitcoins progress? What do you think?
Countries with their own cryptocurrency, Ecuador, China, Singapore just tested digital dollar via Ethereum blockchain, Palestine is planning to launch their own currency and and a few countries are studying the blockchain technology closely.
IMO, governments legalising bitcoins is the best way to achieve mass recognition. On the other hand, if more countries launch their own digital currencies and proclaim bitcoin as illegal then that would definitely halt bitcoins growth, but only temporarily. Banning internet is altogether on a different level than banning bitcoins. So the growth would be halted, but the internet money would bounce back.
Streisand effect.
Countries with their own cryptocurrency, Ecuador, China, Singapore just tested digital dollar via Ethereum blockchain, Palestine is planning to launch their own currency and and a few countries are studying the blockchain technology closely.
IMO, governments legalising bitcoins is the best way to achieve mass recognition. On the other hand, if more countries launch their own digital currencies and proclaim bitcoin as illegal then that would definitely halt bitcoins growth, but only temporarily. Banning internet is altogether on a different level than banning bitcoins. So the growth would be halted, but the internet money would bounce back.
Streisand effect.
Quote
The Streisand effect is the phenomenon whereby an attempt to hide, remove, or censor a piece of information has the unintended consequence of publicizing the information more widely, usually facilitated by the Internet.
I think that this has a very serious impact on bitcoin, all news related to the bitcoin market have a direct impact and its value on the market. Specific examples have been made recently, as some countries have reportedly accepted bitcoins, which in turn boosted the demand for bitcoin in the population, and the value of bitcoin increased dramatically. .
June 14, 2017, 06:16:24 AM
Whatever happens, bitcoin has revolutionised how currency is perceived and transmitted. You already have clones like ripple backed by some "banks". Ecuador has tried, I also read about the possibility of a Russian backed national currency powered by its own blockchain. Competition is good, I don't think bitcoin will remain number one forever, but it's main advantage over any nationally backed coin would be decentralisation.
June 13, 2017, 08:15:33 AM
For me, it not affect bitcoin because in other country many have uses bitcoin so it will not affect bitcoin. In some other country bitcoin is still popular and investors accept bitcoin in some other countries so its not affect. Even if they launch their own the bitcoin will always familiar and not down. Many countries still use and remain use bitcoin and it will not affect bitcoin. And even if their own currency the bitcoin is continue to rise and demand to other country especially in investors and people want to invest. It could not affect in other country.
June 13, 2017, 06:18:16 AM
It is not a problem to the bitcoin. If the different countries is launches their own cryptocurrency it has no effect to the bitcoin. Because bitcoin is now very powerful that no one altcoins can even stand or replace.
June 13, 2017, 06:11:15 AM
Yes, it will affect the bitcoin because of the possible demand that can be lessen in the total or overall demand for bitcoin. If the users of bitcoin in that particular country already have a good thinking that they see a good potential then they will transfer to it and they will not use bitcoin anymore and that is how it can affect the bitcoin.
June 13, 2017, 06:09:52 AM
For me. The countries that launching their own cryptocurrency have a effect to the bitcoin but only a slight effect. This effect is only makes the bitcoin to have a slow progress and having many competitors in the cryptocurrency world.
June 13, 2017, 06:03:20 AM
I've been following this since Ecuador launched their's a while ago, Overall I think it would be great for BTC, because these coins aren't gaining much success and lack the meaning of cryptocoins of volatility and decentralization, but in the same time it makes usual citizens accept the idea of Crypto easier, and when the country legalize BTC then BTC would get massive adoption instantly.
June 13, 2017, 05:00:37 AM
Currency must be simple to use and easy to understand. At the moment bitcoin is being used as a speculation tool and for some the ability to actually buy and invest into their own ideas, philosophies and get rich quick delusions. If countries develop their own coins, it will help normalise bitcoin as a currency and promote adoption.
June 13, 2017, 04:58:09 AM
http://www.zerohedge.com/news/2017-06-12/putin-meets-ethereum-founder-create-national-virtual-currency
Putin meets Vitaliq to start a national currency based on ethereum, lol.
Ethereum is a backstabbing piece of shit which whores for banks and governments. Bitcoin tried to take the power from banks and govs and give it back to people but sheeple gonna sheepl.
I guess humanity is in love with slavery and slaves themselves like it most.
Guess, Putin just found a way to control cryptocurrency. Russia won't accept bitcoin, they will just make their own putincoin and be happy thinking they are progressive. Putin meets Vitaliq to start a national currency based on ethereum, lol.
Ethereum is a backstabbing piece of shit which whores for banks and governments. Bitcoin tried to take the power from banks and govs and give it back to people but sheeple gonna sheepl.
I guess humanity is in love with slavery and slaves themselves like it most.
June 12, 2017, 07:22:06 PM
http://www.zerohedge.com/news/2017-06-12/putin-meets-ethereum-founder-create-national-virtual-currency
Putin meets Vitaliq to start a national currency based on ethereum, lol.
Ethereum is a backstabbing piece of shit which whores for banks and governments. Bitcoin tried to take the power from banks and govs and give it back to people but sheeple gonna sheepl.
I guess humanity is in love with slavery and slaves themselves like it most.
Putin meets Vitaliq to start a national currency based on ethereum, lol.
Ethereum is a backstabbing piece of shit which whores for banks and governments. Bitcoin tried to take the power from banks and govs and give it back to people but sheeple gonna sheepl.
I guess humanity is in love with slavery and slaves themselves like it most.
June 12, 2017, 07:17:46 PM
Quote from: Taki link=topic=196bitcoinsg19511696#msg19511696 date=1497269386
This is pretty possible. People are inspired with bitcoin success and it's technology. I am really believe that one day it may appear local USAcoin or RUcoin and other like that.
you are right. they will make a coin with that name and make it successful and it will be their digital currency though if all of the country make a cryptocurrency like that it is just famous with in their country because other country has their own coin thats why. But it wouldn't be the same with bitcoin that is universal
June 12, 2017, 07:09:44 PM
It is not going to have a big effect those that are smart and are willing to see what it is going on are not going to settle for second best when they can get the best of the best in the form of bitcoin.
June 12, 2017, 04:10:55 PM
~
Still no numbers. Nothing.
I'm really getting tired of those stories about India, China , Venezuela ... Nigeria.
If in 3 years being around this forum you haven;t learned that all this stories are just hype with no real material proof behind then I'm sorry for you.
Fact until you come up with numbers...
Only usage and demand in the us and EU matter. Nothing else.
All the large shops large companies large everything, shops and users are located there.
And it's easy to understand.
When almost all of the wealth is concentrated here , nobody will care is 10 Venezuelans will have 10$ to buy a few satoshi.
Put your indian pride aside and face the truth.You can't invest in bitcoin and make a difference with 100$ a month net wage.
End of story.
Apart from this sole sentence do you have anything to backup that bitcoin demand has not increased in India, nope. Instead of asking for volumes or concluding it is an inflated story, if you had put the effort to prove that bitcoin demand has not risen in India that would have been constructive criticism. I guess you got my point.
Also , before typing make sure you post something that makes sense.
I am the one denying it, you are the one that claims it's true.
You have to come with the numbers and the facts not me.
I'll be waiting.
Meanwhile you can check the animated map here:
https://blockchain.info/unconfirmed-transactions
Of course it is not accurate but it shows the basic idea
June 12, 2017, 01:58:08 PM
Personally don't think it will have any effect, cuz i don't see any point in this.
What will they gain and what will they have with this? Nothing just another coin.
What will they gain and what will they have with this? Nothing just another coin.
June 12, 2017, 12:24:05 PM
No it would not affect bitcoins.Those countries have planned to release cyrpto currencies for their own people and not for global usage.No other country's people would show interest in buying another country's coin.But bitcoin is accepted globally and it has investors all over the world.Bitcoin has gained trust all over the world.So bitcoin would not get affected by any of those currencies.
although there are thousands of new currencies already created, but they have no effect on bitcoin, bitcoin is number one currency from the very beginning and hope that it will remain as number one currency in the future also. June 12, 2017, 12:14:45 PM
No it would not affect bitcoins.Those countries have planned to release cyrpto currencies for their own people and not for global usage.No other country's people would show interest in buying another country's coin.But bitcoin is accepted globally and it has investors all over the world.Bitcoin has gained trust all over the world.So bitcoin would not get affected by any of those currencies.
See if any coin come to market and started to build good reputation then automatically the other currency value will come down. See now more people are showing interest in ETH coin. So it will effect on bitcoin users. Newcomers are getting confused which coin they want to use. Maybe the OP is right the other cryptocurrencies are affecting bitcoins. 
June 12, 2017, 12:05:57 PM
These coins would just be a laughing stock and can be symbol of governmental overreach. They are destined to fail right from the very start
That's why there won't be any such coins
I've been hearing about some government going to create their own cryptocoin as long as I've been reading the forum, but I have yet to see even a single implementation of what could be loosely called a government coin (apart from regular fiat, naturally). As I already said, governments may be looking for new payment schemes and systems but there is no chance they are going to create a second currency which would be competing with regular fiat
You have a point. I think if they are going to create their own cryptocurrency, this is to somewhat stop their citizen to buy or get other crypto's specially bitcoin, and not with their regular fiat. But the problem is that I don't think there will a successful government crypto that can compete with bitcoin. So I think they should stop creating their own government sponsored crypto
That would be an exercise in futility, stupidity and absurdity
If they ever wanted to outcompete cryptocoins (let's assume that), they could easily get there if they made their fiat money itself more attractive. That could be virtually anything, for example, ease of transaction, stable floating exchange rates against major currencies, universal acceptance in the world, and so forth. Really, they would achieve better results if they just outright banned Bitcoin and other currencies. Obviously, it would be only nominally or comparatively better, not that they would somehow succeed at reaching their ends in this endeavor
~
I went through around 10 posts you made in the last one hour or so
That's a well known forum clown
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