Will governments create their own cryptocurrency that will replace fiat? - page 15.

Snaic

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No, this will not happen. Governments of different countries will create and create their own centralized crypto currency, but it will not replace cash or non-cash money. Crypto currency has great volatility and can not be used therefore as the main money in the state. If the centralized crypto currency is adjusted so that volatility almost disappears, then, in principle, this is possible. And then, with a number of additional conditions. Not everyone will have the opportunity to constantly have with them sophisticated technical means to buy some goods of small value in the store. All this is very difficult. Of course, financial relations will constantly change and improve.

Nitnit13

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I am less knowledgeable about it but it could be the government to make their own cryptocurrency if it could benefit them greatly. But it would be very difficult to beat bitcoin at the time because bitcoin is already very popular among governments in some countries.

cahbagus555

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

I think if want make own cryptocurrency, that would be central banks and not government because thats moneter issue. I think if that cryptocurrency controlled by central bank, that would be not call cryptocurrency because the basic about cryptocurrency is decentralized system that no one can control the supply or the price.
Anyway, if government or central bank do that, i think that will be like gold in real world

ngano ba

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That would be a possibility that government would create their own cryptocurrency that will replace fiat, the government and the financial institution might come up with this idea and its easy for government to work for this they have the budget to launched this projects.

kisscoin

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Never, all governments will want to control the issue of money, governmental will not do it

SaiWAFU

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It will be a big step for countries and it will take a lot of time for that. The good thing about electronic currencies is that it could save trees from printing fiat money.

Government will also need to educate their citizens about its usage and its to be expected that not all would be able to easily adopt it.

willnotwas

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

Well...the main cryptocurrencies feature is decentralization which governments can't afford. Even if that happens, that won't be a cryptocurrency that we're used to. It's self-evident.

ToyotaFortuner

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

if the government creates its own cryptocurrency it seems like it looks silly and will look at a price game that will be created falsely by the government because of its government owners and it is certain it would be detrimental if it did.

Sled

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If the trend for the cryptocurrencies will continue to grow then the government might do it in order to be competitive and to be able to compete to the other cryptocurrencies because they will not allow that the decentralized cryptocurrencies will win the game because they will not have much power to possibly control the flow of the money again.

Impros88

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I cant see a point here: they already have all the banks to digitalize the official fiat money, and they're centralized so perfectly under control.. So what is the reason to create another token?

kohlicool54

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Centralisation will kill crypto. Better it stay away from them.

freedomgo

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I think this will continue to be a contradiction, the transaction certainly becomes easier and certainly the government can control the coins in total, but I'm sure many do not agree because they are worried about not having more access.

They will do regulate crypto based on the current system, there will be no decentralization anymore in terms of transacting in exchanges
because we will be oblige to comply with the KYC. I think we cannot do away with this, we will comply no matter what if we want this crypto world to grow.

Elrozaq

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

It is possible, the crypto currency is the future payment system. it is digital , simple and secure. The government should accepts it or they create own crypto currency. because in the future the crypto currency will needed.

CherRic

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

This is possible. Cryptocurrency is the new trend and innovation right now. Most governments are already accepting these because of its convenience and value. Governmennts should go with the flow and adapt these innovations or else they will left behind,

clarky

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In my opinion , staring at how bitcoin (blockchain technology) is getting the attention of financial organization due to the fact of the technology attached to it. There is a big possibility that authorities will graph and create their own cryptocurrency to change their fiat. two The government always wishes authority so rather of accepting bitcoin itself, they would rather have manipulate and create a centralized cryprocurrency and set up it to its citizen.

webdevmastery

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Quote from: michkima on November 23, 2016, 09:45:28 PM

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar, etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

There is a huge chance for them to create their own cryptocurrency since they cannot really chase the growth of bitcoins today in the market due to its high demand and a very high growth due to its investors.

geegaw

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Quote from: komrobert on April 29, 2018, 06:13:58 AM

If all the world will accept cryptocurrency than yes, I think they can do it and they will. I think fiat money are dying, and there will be new king.

Silly, you should not negate the value of fiat and enhance the value of cryptocurrency, I know that the government is planning to create their own cryptocurrency but that is just to serve the purpose is consistent with the development of the country, in line with the progress of the world. Replace fiat is not in their calculation and intentions because fiat too useful and convenient, the evidence is very clear when in real life, the number of people that use fiat is still very large, transactions always have fiat, it is an essential product and can not be replaced

FUD Expert

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Probably, yes. Government always adjust on what majority of their people do. When internet was invented, they provided ways of getting your documents by online registration so I know they'll do the same with crypto.

komrobert

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If all the world will accept cryptocurrency than yes, I think they can do it and they will. I think fiat money are dying, and there will be new king.

esa2782

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if the development of bitcoin and cryptos are rapidly increase and its popularity is also skyrocketing i believe the governments don't have any choice but to adapt and yes create their own cryptos and i think the chance is high because based on what we see in our time that everything which is generate from the digital world beside games off course and have direct impact or practical use in our daily life is difficult to go away or fail, so bitcoin as a pioneer in cryptos, replacing paper money into digital one also will be flourish and gaining more momentum each day.

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