Topic: Will countries launching their own cryptocurrencies affect bitcoin? - page 6. (Read 4532 times)
June 11, 2017, 10:52:37 AM
i think its not affect with bitcoin as long as the government is not interfere the coins and don't trying to make cheat movements for their coins. i think peoples will thinking before they want to invest their money, they will choose the best investment because what they only want is making profit from what they invest.
June 11, 2017, 10:44:41 AM
A cryptocurrency controlled by a government has no advantage over bitcoin. It would be like fiat in digital form. It is the very same thing bitcoin is designed to avoid and combat. Even if countries will have their own cryptocurrency, people will still choose bitcoin over it.
Agree, if a country create a cryptocurrency, I not think user Bitcoin/Altcoin in the world choose it, because purpose crypto want not need controlled by a country or anyone and can't tax it! A cryptocurrency created by a country only look like as FIAT and can tax fee, although it can trade online but I not think I call it is a cryptocurrency, I will call it is a Digital Currency 
June 11, 2017, 09:50:18 AM
Centralized digital asset that some countries are trying to introduce is just digital fiat in my opinion and nothing more.
I don't see how creation of another payment system - this time fully digital, and cryptography backed - will have any impact on sovereign cryptocurrency like BTC.
This national crypto will share every property with normal fiat - plus it will be easier for government to control it, so there won't be a reason to use it over Bitcoin.
I don't see how creation of another payment system - this time fully digital, and cryptography backed - will have any impact on sovereign cryptocurrency like BTC.
This national crypto will share every property with normal fiat - plus it will be easier for government to control it, so there won't be a reason to use it over Bitcoin.
June 11, 2017, 09:32:43 AM
A cryptocurrency controlled by a government has no advantage over bitcoin. It would be like fiat in digital form. It is the very same thing bitcoin is designed to avoid and combat. Even if countries will have their own cryptocurrency, people will still choose bitcoin over it.
June 11, 2017, 09:29:43 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.
Yes, and the governments of those countries are not so stupid to not know that. I think by now there were many attempts to create a "national cryptocurrency" and not only in the countries you've mentioned. All those attempts affect Bitcoin in a positive way because either you want it or not, you can't not mention Bitcoin when talking about your national crypto in the news.
June 11, 2017, 09:18:58 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.
Even when they create their own crypto- currency they forgot that the global market is always larger than the individual country market and that's where the superiority of bitcoin comes in. And aside that there is no law that days I cannot own bitcoin and my own country's crypto currency even when they are only giving it to already users of bitcoin and if they are promoting it, they are equally promoting bitcoin as well.
June 11, 2017, 08:38:38 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. .
No government like the decentralization feature of BTC because surveillance is one of the things which countries have to keep. They need to understand the blockchain technology and can monitor local exchanges but they want total surveillance. It will affect positively as well as negatively on crypto currencies.
June 11, 2017, 08:34:10 AM
Launching a centrally-controlled Blockchain based private ledger is not a very attractive option for consumers. We have already seen how governments
have exploited Fiat currencies and now they want to implement that in the Crypto currency world too. They know it will be cheaper and less anonymous
than Cash, so they would push for it. {Consumers will not appreciate the fact that ALL their transactions would be traced via a private entity that are in
full control over their finances. We have also seen what happened with Ethereum when Foundations call the shots... now people are investing
large amounts of money into Alt coins like that? Crazy!!!!!
have exploited Fiat currencies and now they want to implement that in the Crypto currency world too. They know it will be cheaper and less anonymous
than Cash, so they would push for it. {Consumers will not appreciate the fact that ALL their transactions would be traced via a private entity that are in
full control over their finances. We have also seen what happened with Ethereum when Foundations call the shots... now people are investing
large amounts of money into Alt coins like that? Crazy!!!!!
Actually that is what I really think will happen if some countries would surely make an Altcoins like that, because all of us doesn't really wanted to be controlled, if possible we surely wants something that we can surely trust 100% and we are the one controlling our every earnings, I really think that it will not be successful and if it can surely hit in the market I think it would just be lump with the other Altcoins but let's just see if what will they try to do to make it possible and successful in their part.
June 11, 2017, 08:21:09 AM
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.
can you give us some references for these?
i have been searching for a bit here, and i found out that Ecuador has done that in Feb 2015 (it had nothing to do with ethereum!)[1]
don't know how successful or not this is,
China seems to have dome something similar recently and have been working on it since 2014. again has nothing to do with ethereum blockchain!![2]
couldn't find anything decent about Singapore. and i also have heard India is planning on doing it also.
also there seems to be a lot more of these "national coins" and none of them have anything to do with ethereum blockchain![3]
so i ask my question again, can you give us some references on these?
[1] http://www.cnbc.com/2015/02/06/ecuador-becomes-the-first-country-to-roll-out-its-own-digital-durrency.html
[2] https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
[3] http://www.coindesk.com/coindesk-guide-worlds-national-altcoins/
China has done some trial runs, exact date of launch is not fixed yet, https://coinidol.com/china-creates-its-own-cryptocurrency/
Yeah, I think both the Ecuadorian and the so planned Chinese cryptocurrency has nothing to with blockchain, but with cryptography, like token based electronic payment system.
Singapore Trials its Digital Dollar via an Ethereum Blockchain, https://www.cryptocoinsnews.com/singapores-central-bank-tokenizes-dollar-via-ethereum-blockchain/
India is planning to regulate bitcoins which probably would happen by the end of next year.
A cryptocurrency without Blockchain, https://thestack.com/big-data/2016/09/12/beyond-the-electricity-guzzling-failed-blockchain-experiment/
https://arxiv.org/ftp/arxiv/papers/1404/1404.4275.pdf
I guess this is what the Chinese government is working on.
June 11, 2017, 08:13:08 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 11, 2017, 08:12:06 AM
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.
can you give us some references for these?
i have been searching for a bit here, and i found out that Ecuador has done that in Feb 2015 (it had nothing to do with ethereum!)[1]
don't know how successful or not this is,
China seems to have dome something similar recently and have been working on it since 2014. again has nothing to do with ethereum blockchain!![2]
couldn't find anything decent about Singapore. and i also have heard India is planning on doing it also.
also there seems to be a lot more of these "national coins" and none of them have anything to do with ethereum blockchain![3]
so i ask my question again, can you give us some references on these?
[1] http://www.cnbc.com/2015/02/06/ecuador-becomes-the-first-country-to-roll-out-its-own-digital-durrency.html
[2] https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
[3] http://www.coindesk.com/coindesk-guide-worlds-national-altcoins/
China only assembled their research team in 2014, but I guess they learn over the past 3 years.
according to Bloomberg, it's going to happen soon, so I'm sure they had the time to learn also about blockchain.
you can read it yourself here:
https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
did you just repost the same link that i myself gave?!
also i am not saying if or if not China has done it already, i am saying these "country launched cryptocurrencies" were NOT via ethereum blockchain as far as what i have read so far tells me! so i want to know what OP's reference is for claiming this.
June 11, 2017, 08:08:16 AM
Launching a centrally-controlled Blockchain based private ledger is not a very attractive option for consumers. We have already seen how governments
have exploited Fiat currencies and now they want to implement that in the Crypto currency world too. They know it will be cheaper and less anonymous
than Cash, so they would push for it. {Consumers will not appreciate the fact that ALL their transactions would be traced via a private entity that are in
full control over their finances. We have also seen what happened with Ethereum when Foundations call the shots... now people are investing
large amounts of money into Alt coins like that? Crazy!!!!!
have exploited Fiat currencies and now they want to implement that in the Crypto currency world too. They know it will be cheaper and less anonymous
than Cash, so they would push for it. {Consumers will not appreciate the fact that ALL their transactions would be traced via a private entity that are in
full control over their finances. We have also seen what happened with Ethereum when Foundations call the shots... now people are investing
large amounts of money into Alt coins like that? Crazy!!!!!
June 11, 2017, 08:06:02 AM
I think it will have positive effect on bitcoin or overall crypto market, if government starts to launch their own blockchain based currency than people will start to realize the power of crypto and blockchain that might force them to search for better alternative than those centralized tokens created by their government. What could be better alternative for them than bitcoin because they can have full financial freedom which they can't have when using those tokens/currencies issued by their governments.
June 11, 2017, 08:02:54 AM
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.
can you give us some references for these?
i have been searching for a bit here, and i found out that Ecuador has done that in Feb 2015 (it had nothing to do with ethereum!)[1]
don't know how successful or not this is,
China seems to have dome something similar recently and have been working on it since 2014. again has nothing to do with ethereum blockchain!![2]
couldn't find anything decent about Singapore. and i also have heard India is planning on doing it also.
also there seems to be a lot more of these "national coins" and none of them have anything to do with ethereum blockchain![3]
so i ask my question again, can you give us some references on these?
[1] http://www.cnbc.com/2015/02/06/ecuador-becomes-the-first-country-to-roll-out-its-own-digital-durrency.html
[2] https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
[3] http://www.coindesk.com/coindesk-guide-worlds-national-altcoins/
China only assembled their research team in 2014, but I guess they learn over the past 3 years.
according to Bloomberg, it's going to happen soon, so I'm sure they had the time to learn also about blockchain.
you can read it yourself here:
https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
June 11, 2017, 07:50:59 AM
Quiet surprising that there are some countries did already made their own coin I have read previously a certain country but I forgot the place but among all those countries have been mentioned seems like none of them succeeded I guess.I can say theres no effect on bitcoin no matter how good they would create their own coin but the thing would be the limitation of bitcoins full adoption among countries because government would really use their own coins to patched up on bitcoins existence.
June 11, 2017, 07:39:31 AM
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.
can you give us some references for these?
i have been searching for a bit here, and i found out that Ecuador has done that in Feb 2015 (it had nothing to do with ethereum!)[1]
don't know how successful or not this is,
China seems to have dome something similar recently and have been working on it since 2014. again has nothing to do with ethereum blockchain!![2]
couldn't find anything decent about Singapore. and i also have heard India is planning on doing it also.
also there seems to be a lot more of these "national coins" and none of them have anything to do with ethereum blockchain![3]
so i ask my question again, can you give us some references on these?
[1] http://www.cnbc.com/2015/02/06/ecuador-becomes-the-first-country-to-roll-out-its-own-digital-durrency.html
[2] https://www.bloomberg.com/news/articles/2017-02-23/pboc-is-going-digital-as-mobile-payments-boom-transforms-economy
[3] http://www.coindesk.com/coindesk-guide-worlds-national-altcoins/
June 11, 2017, 06:41:52 AM
Yes, I think so. Most people trust more something what belongs to government and some trust more something what is decentralized. I'm in second group and we think if someone will accept both cryptocurrencies, they will exchange fiat to bitcoin in short time.
June 11, 2017, 06:28:26 AM
Every country already created their own cryptocurrency long ago. It's called online banking — the government controlled online banking
Unfortunately those countries seem not know why Bitcoin is very successful today... they seem to be doing the opposite.
And are probably lunching Bitcoin clones
Unfortunately those countries seem not know why Bitcoin is very successful today... they seem to be doing the opposite.
And are probably lunching Bitcoin clones
June 11, 2017, 06:24:02 AM
i don't think that this could nearly happen that Great Banks controls the monetary circulation over the globe and also buy all the financial products. The progress of governments creating their own currencies will destroy the banks empire. Banks are creating money without controls and really from nothing so they are cheating people and cheating the system so i don't think that they are really ready accept all the crypto or the money from internet.
June 11, 2017, 06:18:15 AM
They will implement Blockchain-based technologies that is for sure. But don't think they will use it as cryptocurrencies that could be exchanged with bitcoins and other alts.
There will be 2 different worlds around blockchain.
There will be 2 different worlds around blockchain.
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