Will governments create their own cryptocurrency that will replace fiat? - page 23.

Mr. Big

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Quote from: gribble on November 28, 2016, 11:03:54 PM

For right now there are many countries that building their own coins because of chrash of economic, but about the their coins will be replace their fiat money i am doubt about it, because not all of people on countries can understand about digital currencies. If it can be happening will take long time.

They can build their own if they want too... But it will not be like bitcoin, it will be centralized and I think it's like the fiat, and probably if they create one, they will slowly remove their paper money... It could be helpful, it won't take long for the people to adopt it and learn how to use digital currency if it is being taught in the school soon if the government would really create their own cryptocurrency...

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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?

Maybe the government or bank will use crypto currency but not that means fiat will endingup no value. I think there's still country prepared to use Fiat for their daily needs.

gribble

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For right now there are many countries that building their own coins because of chrash of economic, but about the their coins will be replace their fiat money i am doubt about it, because not all of people on countries can understand about digital currencies. If it can be happening will take long time.

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Quote from: machinek20 on November 28, 2016, 06:43:06 PM

I don't think that will happened, because there is no way government going to replace fiat with digital currency and if a digital currency is replacing fiat then the usage will be the same with fiat, so i don't see any purpose of that

I think it is almost the same as the process of unification of the currency, perhaps we could take the example of the unification of the currencies of several countries such as Europe, not impossible but to realize it takes a long process. So, if the Government only one, I think it was worth it. Better some countries unite to make coins.

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Quote from: machinek20 on November 28, 2016, 06:43:06 PM

I don't think that will happened, because there is no way government going to replace fiat with digital currency and if a digital currency is replacing fiat then the usage will be the same with fiat, so i don't see any purpose of that

Who knows. if government would create their own cryptocurrency, definitely it would have a value like their paper money, in short it would still be money in digital form. As for the purpose, we all know that online transactions and bank to bank transactions are faster compared to paying in counters and paying directly. It will be useful for sure, and government would not create one if it has no purpose.

machinek20

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I don't think that will happened, because there is no way government going to replace fiat with digital currency and if a digital currency is replacing fiat then the usage will be the same with fiat, so i don't see any purpose of that

agamasrori

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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 it could be happen. When bitcoin get more attention of the people, the government will make their own cryptocurrency that they can control. Thats my opinion.

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Quote from: carlerha on November 28, 2016, 03:15:41 AM

Quote from: Mastsetad on November 27, 2016, 10:08:51 AM

Quote from: FFrankie on November 26, 2016, 09:06:14 AM

I think this would be a really cool idea, but how would one get that cryptocurrency, I cannot see a government allowing mining of it. Would they with their unlimited resources mine the crap out of it before letting the general public know? Then would we have to go to the market and trade 20 cans of corn for 1 coin. Would there be a grace period where you could covert the paper money to the crypto

If a government creates a crypto currency then there will also be jobs available for earning that currency as well like fiat, so i don't feel their will be things like mining it or etc as they will all be generated and be in use of the people of that country.

but to me i think still it cannot be compare with bitcoin as bitcoin is a decentralize currency while governments cannot offer while in their own created cropto currency, therefore it will not be as popular as bitcoin.

Yes that may be right as governments can provide service to crypto currency limited to their countries. But then how can it be possible use these crypto currencies for online trading and shopping will it be needed to convert it in to some other currency in which you are going trade or purchasing something?

Also I think that will be the main question that can arise to the governments if they want to create their own crypto currencies.

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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 fir me it depends on how available being online is for a specific country. Its very likely that things will be very different in 100 years and most likely majority of transactions can be done online but for me governments would still be using fiat. Also, they may be creating their own crypto but not to replace their country's currency but as a support or for alternative use. Although 100 years is a very very long tine from now so we really would never know

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There is a high possibility that this might happen but I think it won't be like bitcoin, maybe a little but surely different since there are many things government might want to imply.

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I would say that yes. Government might make some transparent currencies. Governements that are just a puppets, as we have now will not make such a things, as it would destroy the huge gains of their puppet masters.

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This would be a good idea for all governments to adopt but most people would be reluctant to go digital as they avoid been targeted by hackers or leaving any money trail

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Quote from: Sir Paijoe on November 28, 2016, 02:18:54 AM

According to themy opinion it is impossible, if all governments make cryptocurrency then the price will be difficult accept by international citizens.

They might create their own cryptocurrency but the price still same with their official currency, the reason why do they create their coin in order to get all advantages provided by the blockchain technology, i personally think that they would create they own crypto maybe only digitize their official currency and adopt blockhain technology in order to make the transaction faster, however it just speculation everyone has opinion and be able to voice it, no matter what it is, but that does not mean the opinion is always right.
Better to see the truth.

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Quote from: carlerha on November 28, 2016, 03:15:41 AM

Quote from: Mastsetad on November 27, 2016, 10:08:51 AM

Quote from: FFrankie on November 26, 2016, 09:06:14 AM

I think this would be a really cool idea, but how would one get that cryptocurrency, I cannot see a government allowing mining of it. Would they with their unlimited resources mine the crap out of it before letting the general public know? Then would we have to go to the market and trade 20 cans of corn for 1 coin. Would there be a grace period where you could covert the paper money to the crypto

If a government creates a crypto currency then there will also be jobs available for earning that currency as well like fiat, so i don't feel their will be things like mining it or etc as they will all be generated and be in use of the people of that country.

but to me i think still it cannot be compare with bitcoin as bitcoin is a decentralize currency while governments cannot offer while in their own created cropto currency, therefore it will not be as popular as bitcoin.

government is printing money so if by any chance in the far future they decided to move from paper fiat to digital fiat they will surely do a closed sourced cryptocurrency which they can print themselves (which means only they can mine it) or it may even have a fixed max amount with no reward on mining blocks. in any case that would be an argument for a very far future.

carlerha

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Quote from: Mastsetad on November 27, 2016, 10:08:51 AM

Quote from: FFrankie on November 26, 2016, 09:06:14 AM

I think this would be a really cool idea, but how would one get that cryptocurrency, I cannot see a government allowing mining of it. Would they with their unlimited resources mine the crap out of it before letting the general public know? Then would we have to go to the market and trade 20 cans of corn for 1 coin. Would there be a grace period where you could covert the paper money to the crypto

If a government creates a crypto currency then there will also be jobs available for earning that currency as well like fiat, so i don't feel their will be things like mining it or etc as they will all be generated and be in use of the people of that country.

but to me i think still it cannot be compare with bitcoin as bitcoin is a decentralize currency while governments cannot offer while in their own created cropto currency, therefore it will not be as popular as bitcoin.

Sir Paijoe

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According to themy opinion it is impossible, if all governments make cryptocurrency then the price will be difficult accept by international citizens.

michkima

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Quote from: Mastsetad on November 27, 2016, 10:08:51 AM

Quote from: FFrankie on November 26, 2016, 09:06:14 AM

I think this would be a really cool idea, but how would one get that cryptocurrency, I cannot see a government allowing mining of it. Would they with their unlimited resources mine the crap out of it before letting the general public know? Then would we have to go to the market and trade 20 cans of corn for 1 coin. Would there be a grace period where you could covert the paper money to the crypto

If a government creates a crypto currency then there will also be jobs available for earning that currency as well like fiat, so i don't feel their will be things like mining it or etc as they will all be generated and be in use of the people of that country.

If mining was integrated into the state's cryptocurrency, I think there would cause instability with their currency. Mining would mean units that were mined would not represent the something in the gold reserve of that state. Hence, mining would not be an option if governments would adopt their cryptocurrency. Governments will have control over the amounts released to the public and its generation similar to how fiat is currently being used.

Mastsetad

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Quote from: FFrankie on November 26, 2016, 09:06:14 AM

I think this would be a really cool idea, but how would one get that cryptocurrency, I cannot see a government allowing mining of it. Would they with their unlimited resources mine the crap out of it before letting the general public know? Then would we have to go to the market and trade 20 cans of corn for 1 coin. Would there be a grace period where you could covert the paper money to the crypto

If a government creates a crypto currency then there will also be jobs available for earning that currency as well like fiat, so i don't feel their will be things like mining it or etc as they will all be generated and be in use of the people of that country.

bamboylee

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100 years is a long time. I do not know what will the legislation about bitcoin will be by then. But one thing is for sure, governments do not want to give away control. If it is based on block chain technology, then they cannot control it. So my answer is no.

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Why so simple questions? In internet, we use national or famous currencies, also we buy bitcoin with them and there is no need to make govermants their own cryptocurrency, if they'll create, than who will trust them in privacy? What will they offer us which bitcoin can't to do?
There is no need of that and I think it won't happen in at least near future.

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