You think that governments might adopt cryptocurrencies to replace fiat currency - page 2.

Chainsmokers

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Quote from: ice098 on January 11, 2020, 11:02:11 AM

Quote from: Wipeout2097 on January 11, 2020, 10:44:29 AM

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

Just like what I think that in my opinion the government will not adopt cryptocurrency as a means of payment later because we know that cryptocurrency is unstable and also now fiat currency can also be used without having to meet face to face and we can make payments using the internet using fiat, so I think there is no way the government will adopt cryptocurrency as a means of payment. But, what will happen later we do not know, this is just my personal opinion.

libert19

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I doubt they would ever replace fiat currency, since they control it. Imo, the most they would ever do is create a coin/token to fiat counterpart.

tungaqhd

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Quote from: RedMinez99 on November 29, 2019, 08:50:43 AM

Currently, in this day and age, all governments around the world have adopted fiat currencies as a means for its citizens to trade with one another and to trade with other nations around the world. However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?

I can see that fiat currency has many flaws as all types of currencies before it, but with the new “government cryptocurrency” would it be able to solve the problems that fiat currency has and make a better economy? I’m not really sure myself as I can’t really predict the future.

Considering that fiat currency replaced all the previous currencies before it, would cryptocurrency replace fiat currency in the future?

Cryptocurrency has many great features (decentralization, anonymity), however they are not what the governments want. They want a currency that easy to control and stable.

Argoo

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Quote from: kindbtc on January 04, 2020, 12:06:10 PM

It is going to happen sooner or later, especially when the economic giant that is China has already announced its official coin, similarly Dubai and some other middle eastern countries are also working on crypto and blockchain, i think once these projects surface then most other countries will also follow resulting in real mass adoption.

No, states will never switch to using cryptocurrency instead of their national money. Moreover, the Chinese government will not do this. In China, they want to issue their own national stable coin. This will be the same national money yuan, only in digitized form. Stable coins do not belong to a decentralized cryptocurrency, this is the same fiat, only on the blockchain. While states plan to issue their own stable coins, however, they will not switch to the use of decentralized cryptocurrency.

Edraket31

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Quote from: Barbarian on January 16, 2020, 11:55:41 PM

Quote from: ice098 on January 11, 2020, 11:02:11 AM

Quote from: Wipeout2097 on January 11, 2020, 10:44:29 AM

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

Governments only think about one thing and that is to keep and to increase their power over their citizens, they are not going to accept cryptocurrencies but not because of the reasons you state, they are not going to accept them because they are going to lose control of the population and their money if they do that and they will never do something like that unless they are completely forced to do it, and I think in the future instead of adoption we will see many governments banning cryptocurrencies but people will keep using cryptocurrencies despite the ban.

Especially banks and we all know that banks are the one's controlling the world, they are taking advantage of our money, that's why the founder of Satoshi was so sick of this thing too that's why he came up to idea wherein banks are in no control, and most of us here agrees with him so we are supporting his idea.

Barbarian

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Quote from: ice098 on January 11, 2020, 11:02:11 AM

Quote from: Wipeout2097 on January 11, 2020, 10:44:29 AM

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

Governments only think about one thing and that is to keep and to increase their power over their citizens, they are not going to accept cryptocurrencies but not because of the reasons you state, they are not going to accept them because they are going to lose control of the population and their money if they do that and they will never do something like that unless they are completely forced to do it, and I think in the future instead of adoption we will see many governments banning cryptocurrencies but people will keep using cryptocurrencies despite the ban.

TIDOVEE

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Quote from: Slow death on November 29, 2019, 09:08:09 AM

Quote from: RedMinez99 on November 29, 2019, 08:50:43 AM

However, would it be possible for in the future for governments around the world to create a cryptocurrency as a means of trade to replace fiat currency?

maybe 100 years from now it will be possible to do so, but it is impossible today because there are many governments that invoke the sovereignty of their governments to refuse many things when those same people of governments who invoke sovereignty issues like to accumulate their wealth in US dollars and buy homes and other properties in rich countries like the US

It is possible for crypto currency to replace the Fiat, but it will take a long time. For many government to accept this it may take a lot of effort,in the process many government who has secret dubious accounts will know that many of their account status will be revealed and will therefore not want people to detect. Moreso, it is not every body that will be able to Operate with crypto, if only the world will pick up seminars before adopting it

cutesgirl

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Many countries not ready for accepting bitcoin as legal currency payment because need to prepare some schedule way and have call center when bitcoin and altcoin got problem with sending and receiving balance, still have country not ready with good internet service where bitcoin without internet can't working well and not function for seller and buyer.

mobilestrike

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Quote from: nicolas1979 on January 12, 2020, 01:42:02 PM

Government must take control every financial instrument because stability is their responsibility. So far government only adopt blockchain technology and like or not they try replace fiat in cryptocurrency position, government can control fiat but not with cryptocurrency. Safety and taxes become major opinion to keep reject cryptocurrency, now we have point of view why regulation never comes up?.

But we have saw in the past that those countries which feel insecurity for their financial system or feel that their currency will be dumped because of any issue then they adopt cryptocurrency and feel freedom in their financial system. Those countries which are in any war situation they also feel that cryptocurrency will secure their economy so it is sure that in the coming future all of the states will adopt cryptocurrencies along with blockchain system.

nicolas1979

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Government must take control every financial instrument because stability is their responsibility. So far government only adopt blockchain technology and like or not they try replace fiat in cryptocurrency position, government can control fiat but not with cryptocurrency. Safety and taxes become major opinion to keep reject cryptocurrency, now we have point of view why regulation never comes up?.

Triffin

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Quote from: miklesm on January 11, 2020, 09:36:41 AM

Personally, I think "government cryptocurrencies" will have just the same problems as fiat money - it will be under strict control, have pretty big fees and long time of transfers between different countries.

For sure if government control something so they will keep control over it. Right now crypto is being transact all over the world and it has very decent fees but government will keep their own fees for it but yet crypto is not under government so no need to be worry. Fiat is still being use in countries it's yet not replaced to just chill.

ice098

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Quote from: Wipeout2097 on January 11, 2020, 10:44:29 AM

I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

I am sorry for contrasting what you have said but I dont think that the cryptocurrency will be adopted by the government because cryptocurrency's price in the market is not stable and needs a lot of improvement and besides there are a lot of things does the fiat can do but not the cryptocurrency coz as what I said it needs more improvement.

Wipeout2097

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I have positive approach for this topic,It is possible and government will adopt it may be not early but in future .Adopting crypto will be need of government.Its era Of modern smart technology and new generation sick of from old trends like traditional banking systems.Artificial Intelligence overtaking the corporate sectors why Because Artificial Intelligence more productive than manpower.

Cryptocuurency save our time and no need of any third party to make transaction locally or globally,This is reason business tycoons and investors attract from the crypto and use it in daily life.

miklesm

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Personally, I think "government cryptocurrencies" will have just the same problems as fiat money - it will be under strict control, have pretty big fees and long time of transfers between different countries.

AbuBhakar

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Quote from: Mealea on January 11, 2020, 02:35:57 AM

Government adopting cryptocurrencies to replace Fiat? I don't see that happening at all. We might have more adoption of cryptocurrencies but not to the extent of replacing Fiat, even every country do that, US will never.

I don't think too that it will ever be possible, we can have our adoption approved by government as a choice to do transaction or as payment process but not to the extent that it will be use as fiat alone. It's just good for an option as we can't change the traditional system been happening for long.

Jpt

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I am seeing this to happen in the future, but not nearest future. This age is digital era and it is necessary to go digital in every aspect of life including monetary sector. As you can see, some countries have already issued their own digital currency. Likewise, I think others will follow suit in the future. So I am very hopeful.

key4co.in

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Quote from: Mealea on January 11, 2020, 02:35:57 AM

Government adopting cryptocurrencies to replace Fiat? I don't see that happening at all. We might have more adoption of cryptocurrencies but not to the extent of replacing Fiat, even every country do that, US will never.

Government adopting crypto to replace FIAT doesn't even have 1% chance to happen, obviously it's, never going to be possible. However, adoption might come gradually but with very tight regulations. If the government can have their way to track and control how citizens spend their crypto and also compel them to pay tax for holding crypto, adoption will be easier. But we all know that's totally against the reason for creating Bitcoin, decentralization was key. Even if governments create cryptocurrency for their countries or jurisdiction, they would be highly centralized stable coins which have no much difference with FIAT except the digital aspect per say.

nutriagrigia

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Quote from: SabrinaBianka on January 11, 2020, 01:53:03 AM

If its possible to help all people on any country its also possible to adopt that (cryptocurrency) because the good government always looking on the benefits for people on their country of course, They didn't decide only for few at least for all right? If its also, if no corruption on their country its possible.

Now the government don't even care about people. governments are all corrupted now and they are doing everything just to find benefits for themselves, but not for people who live in the world. overtime, when blockchain will be implemented into all state structures, corruption will disappear and then the government will think about people

setialovers

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Quote from: Mealea on January 11, 2020, 02:35:57 AM

Government adopting cryptocurrencies to replace Fiat? I don't see that happening at all. We might have more adoption of cryptocurrencies but not to the extent of replacing Fiat, even every country do that, US will never.

The central bank might prefer to publish its own cryptocurrency rather than adopting cryptocurrency on the market. This is because the central banks do not want their role as monetary policy makers disturbed. Cryptocurrency on the market already has a supply limit and this is definitely not wanted by central banks if they adopt cryptocurrency for monetary policy

Mealea

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Government adopting cryptocurrencies to replace Fiat? I don't see that happening at all. We might have more adoption of cryptocurrencies but not to the extent of replacing Fiat, even every country do that, US will never.

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