Will governments create their own cryptocurrency that will replace fiat? - page 8.

mornabo

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Quote from: Flor1982 on September 29, 2018, 10:14:28 PM

Quote from: michkima on November 23, 2016, 10:45:28 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?

We don't know that for sure because we are all dead on that time but for now there is no reason that every nation will create their own currency just to get rid of their own fiat currency but making their own currency as investment in order to make their fiat currency to become more strong is much possible.

Yeah there is no important reason to replace their local currency with foreign currency? and there is no important reason to make 2
currencies at once? yeah we don't know the condition of the next 100 years but for now it is impossible to implement

xtrump101

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$onion

Quote from: michkima on November 23, 2016, 10:45:28 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 not new at all its happening already, the petrol in venezuela, rubles in russia, and some others will follow, there has been rumors that china, australia will follow, because they cant stop the revolution of monetary system they have no choice but ride with the train in the future...

harry_crypto

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This obviously takes a fair amount of speculation since we have no idea what new technologies will develop. We can imagine that it would need to be a fairly flexible and secure platform like EVT which can be easily used for a variety of situations.

Impulseboy

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In 100 years, I believe this is possible, as well. I am not sure about replacing fiat, maybe they will, but I could see them creating a cryptocurrency version of their own currencies, which I am not sure what it says about the general goal of cryptocurrency (or at least the crypto enthusiasts), which is to become a global currency. If each countries have different cryptocurrencies, do you not think that it will still be the same as fiat, only digitized?

yecats

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As the technology is upgrading I think they will also consider crypto currecy will replace the paper money Wink

for as long as everybody will benefit for it and can be easily adopt by their constituent. Why not.

uozer

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PRiVCY

I feel Governments may decide to create their own Cryptocurrency in future truly which shall be regulated by them in one way or the other since development is getting rapid in the world of today and no country wants to lack behind. But I at the same time feel objected to that fact that this currency so innovated shall replace the existing fiat money because of the stiff volatility embedded, can only be at par to fiat is my own submission.

Jerryzack2

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Quote from: michkima on November 23, 2016, 10:45:28 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 don't thing the bureaucracy with which most government operates will allow them to create a digital currency that is fair and universally acceptable to all countries, but independent technologies that transcends these barriers while creating a borderless economy will definitely have the day. This i see in mfchain among projects heading for mass adoption. It will be a great experience to have the world currency driven by value.

Rune

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They don't need to make there own crypto Ripple did it for them already its already happening.

$anounimus$

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I think it might happen because everyone can make their own cryptocurrency and can use cryptocurrency as one of the solutions to economic problems and transactions in their country.

lavara

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Quite possibly such a scenario - every government wants to control the cash flow. However, when it reaches a giant scale - or another option - it will simply be banned. More advanced countries accept the first option, but for now, of course, it would be too early for a large number of countries to do so easily. Notice the crypto currency makes a quiet revolution and creates new ways of exchanging resources.

bonammeo

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This certainly will not happen. Banks in the current countries can transact via the internet. Then why do they have to remove fiat to replace their own cryptocurrency? This is really expensive and unnecessary.

usorin

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Quote from: michkima on November 23, 2016, 10:45:28 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 a bit to optimistic for me, till we get that level probably will will give up money and all other valuable stuff, something similar like Star Trek, sorry but i don't believe that government will agree to change in total the fiat currency with the altcoins.

himtater87

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Quote from: YinShuiSiYuan on September 26, 2018, 07:57:48 AM

Quote from: Evacarter on September 26, 2018, 04:26:45 AM

Governments will not create their own cryptocurrency, because it is difficult to provide a common cryptocurrency rule for all countries as well as changing the value from fiat to cryptocurrency.

Countries are already working on their own cryptocurrencies. The process of their implementation will definitely take time for legal reasons, because they will be centralized. However, the complete replacement of fiat money will be difficult for a long time.

No I don’t agree with this. They can introduce such crypto which is if not the same as used in the international market, but it will no doubt usable in local markets. It is also good because people will transfer their money easily from one place to another without using banks. I think it is the need of the day that government introduces their own cryptocurrency. People want to use digital things then why not currency.

ipanks

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Quote from: Flor1982 on September 29, 2018, 10:14:28 PM

Quote from: michkima on November 23, 2016, 10:45:28 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?

We don't know that for sure because we are all dead on that time but for now there is no reason that every nation will create their own currency just to get rid of their own fiat currency but making their own currency as investment in order to make their fiat currency to become more strong is much possible.

100 years is too long to wait the governments create their cryptocurrency, and I think they will create in the next year (or they already created without we know?). They can create a new type of money, but the problem is they need to see how good their chance to change their money to the new type of money. But I think they can also use cryptocurrency to be used as a new payment system, and if this is happening, then it will make a big explosion in the cryptocurrency because all people will get involved in the cryptocurrency.

Flor1982

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Quote from: michkima on November 23, 2016, 10:45:28 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?

We don't know that for sure because we are all dead on that time but for now there is no reason that every nation will create their own currency just to get rid of their own fiat currency but making their own currency as investment in order to make their fiat currency to become more strong is much possible.

iMark

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Quote from: YinShuiSiYuan on September 26, 2018, 07:57:48 AM

Quote from: Evacarter on September 26, 2018, 04:26:45 AM

Governments will not create their own cryptocurrency, because it is difficult to provide a common cryptocurrency rule for all countries as well as changing the value from fiat to cryptocurrency.

Countries are already working on their own cryptocurrencies. The process of their implementation will definitely take time for legal reasons, because they will be centralized. However, the complete replacement of fiat money will be difficult for a long time.

Nope, I think the government will continue to manage fiat or their local currency alive because local currency means many things to describe their country's economy, there are many things why fiat continues to survive and I don't think that the state will make their own cryptocurrency, while they want centralization

valnd

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Until the end of time

I think that will happen in the future, few weeks back, a minister of finance was giving key note address and he mention how much it cost to print the paper money and said that digital currency will cost such a cost involved in printing and maintaining the paper money, so I think it is possible in the future because a lot government are studying the situation.

Fitrilalala

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Well according to tim draper in 4 years cryptocurrency might become the major payment and people will laugh if you ask to pay with fiat. I do think this scenario would become real in few year and lets see what will happen in 2019.

Friskaadew

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Quote from: michkima on November 23, 2016, 10:45:28 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?

in my opinion it is a bit of a waste, because for what makes a new crypto if each country has a different crypto, then what's the difference with money today which also has different value values, and this modern era we have can send money through electronic media, so in my opinion that is a thought that has retreated 100 years for the next 100 years. because it won't change anything

GirlBitcoin

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Quote from: michkima on November 23, 2016, 10:45:28 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?

that is absolutely true. If the market is safe and clean, then surely the SEC and the government will in turn participate in this market to make it better. The Crypto market is like the stock market, if it's big enough, then the main factors will come out. Wink

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