Bitcoin Forum

this week i read 2 news same news
1. Bank of Tokyo-Mitsubishi says testing its own digital currency ( source (http://www.cnbc.com/2016/06/14/bitcoin-news-bank-of-tokyo-mitsubishi-says-testing-its-own-digital-currency-based-on-blockchain-technology.html))
2. Canada Has Been Experimenting With A Digital Fiat Currency (  source (http://www.forbes.com/sites/laurashin/2016/06/16/canada-has-been-experimenting-with-a-digital-fiat-currency-called-cad-coin/#586e66bb1b0c))

so in future each country will have his own altcoin, what do you think about bitcoin ?
bitcoin still be 1st crypto currency ? or the new altcoin from biggest country will replace it ?

I think it will be hard for other country to replace bitcoin because many people around the world are already using bitcoins for years.

These government back digital currencies will be completely centralized, and therefore different from the idea of bitcoin. Change in government itself will very likely resulting in the breakdown of the system and render them useless.

Bitcoin is decentralized and will not be affected by all these human/political changes.

I doubt all other countries will have their own digital currency because not every country is open to experiment specially when it comes to economy.

Bitcoin is the number one and it will remain number one because of its market capitalization. It is currency standing at 11 billion which is far greater than most of the countries' economy. It is not easy to downgrade from this level. TO decrease the market cap from this level, a mass movement is required and it is very very tough to organize because bitcoin users are spread across the world.

I think it's hard for the country to replace bitcoin from being main cryptocurrency because of the volume users that will get financial loss if bitcoin replaced by other altcoins.

Both the UK (Bank of England) also started developing it's own crypto coin, and from what i heard more countries are behind them.
There will come more countries but none of them will really succeed. They don't realize what the people want

No country will replace bitcoins because to many users are now using them. But I agree to some extent that one or another cryptocurrency will rise sooner or later to compete with Bitcoins.

Bitcoin will still survive no matter how many alt coins will come out or being created, bitcoin will be used globally
Unless the alt coin can become as famous as bitcoin then maybe the alt coin can replace bitcoin but i dont think that can happen

even those countries will have their own cryptocurrency but doesn't mean people in there will not use bitcoin especially for those who has get benefit from bitcoin but it all depends on global market because if bitcoin prices going down and will became useless may be another cryptocurrency will replace bitcoin but if we see the current situations i think not possible because people still like and use bitcoin

It is hard, but not impossible!
Imagine China makes it's own coin! And then convinces Russia and India to use they coin to rule the world, USD will drop in price and some other countries will adopt China coin, then there will be another group of Middle East countries will make another coin and they both(coins) will be close in price or above BTC, after that Europe, Africa and America(north, central and south) will switch to BTC, after that Australia will join China and we will only have 3 major coins!

China coin, Middle East coin and BTC.

Oh I've almost forgot, Japan will still have yen as currency because of Mark Karpelès!!!!

bitcoin will still be number one, you can see the current altcoins like Lisk and ETH it still can not beat bitcoin.
but very likely in the future, there is altcoins that can surpassed bitcoin, but not replace bitcoin.

lol that's funny to see country creating cryptocoin and got inspired by satoshi nakamoto,bitcoin will probably lead those coin as a coin which have the highest value among all,because it's the first cryptocoin ever created and have been used to be payment processor for few online stores around the world

this is so pointless in my opinion.
bitcoin or any altcoin (crypto currencies in general) are better to be decentralized not becoming a centralized coin controlled by the government or the banks.

Countries can have their own cryptocurrencies just like they have their own fiat. There will be many altcoins and bitcoin that are outside of government control and will stay that way hopefully. I could see a small country using bitcoin as an official currency, but they won't control it.

I think it will same like fiat. I mean, if every country have their own altcoin, it will same as dollar, rupe, poundsterling but changed using digital coin and bitcoin will be the main coin for all country.

one of the good things that bitcoin has brought us so far is the fact that you can use bitcoin globally without any restrictions.

so i don't really see what the point of all these country restricted altcoins can be when you can't use them freely.

centralized altcoin? not good, not different than fiat, i stick with bitcoin for everything that it's not centralized, if government can come up with something decentralized, i'll perhaps change my mind

I don't think these countries are experimenting with digital fiat because they want to replace bitcoin. It is because they want people to be able to use cash online without dealing with a third party like VISA, which charges fees.

Plus, the whole reason the banks were bailed out in 2008 was because they controlled the payment network - if you allowed the banks to fail, how would people receive their salaries, buy their groceries, pay their mortgages and taxes. However if you have digital fiat, you can do all of that on the blockchain, it won't fail because it is managed by the central bank's miners. Once they have digital fiat, they can safely allow banks to go bust without affecting commerce. That is what is behind this.

Digital fiat isn't a threat to bitcoin any more than fiat is a threat to bitcoin. It is a threat to banks.

Alyssa, who owns the Central Banks? (hint: it's not the corresponding jurisdictional government).


So many other aspects of the picture you paint are pure fantasy (which is typical of you). For instance, there's no way that any of the major (now heavily consolidated) banking institutions can convincingly be allowed to go bust. The value of the derivative contracts the major banks hold is far, far too much for the markets to absorb without creating total chaos, i.e. orders of magnitude larger than the entire world economy. And these bank can't convincingly go bust without selling their "assets" as a part of the bankruptcy, and the only "buyer" would, irony of ironies, be the central banks, no different to all those defaulted mortgages that the major central banks now have amongst their "assets".

So please, educate yourself before you speak so assertively, you frequently have little idea what you're talking about (although I've noticed you do understand bureaucratic rule systems pretty well... anything to declare? lol)

Now this story is better than mine!!!

Applause for you Mister Carlton Banks

you almost got me .... but I saw what you are doing at lol! .... that made me laugh!

Yes, it is amlost imposibble to replace bitcoin by any other altcoins as it is very difficult to trust a new coin as most of the people are using bitcoins for years and trusting with it. Also it is difficult for developing contries to invent into a new coin and maintaining a own network from hackers must be a real challenge.

Who would use state money when they could use global money? It just wont compete. Ask Canada about that. When they held a contest called "what would you buy with mintchip" (their alt-coin) the #1 answer was "I would buy bitcoin!" So they ended the contest and awarded a runner up the prize.

a lot of groups are talking about creating their own altcoin, they call it adopting the blockchain technology not bitcoin.

but that is jut what i called then "and altcoin" and nothing can ever replace bitcoin for us.

probably every nation or company will try to follow block chain revolution.
The code is free and published so...

Then it is going to be like fiat, wherein Bitcoin will be the general, world-wide accepted bitcoins while altcoins are traded into bitcoins to be spent internationally. However, I doubt that each country will have it's own altcoin though.

Hm.i think bitcoin can't replace any cryptocurrencies in the first place because of its widely used and first known .but this new cyrpto's will only the same or as good investment in that particular country.

No i doubt that we will see an altcoins for every country, maybe a couple of them will have a successful ones but definitely bitcoin will remain the most used and traded

Bitcoin will be the master of all of that altcoins, ever country will use their coins for their national use but bitcoin will be used for international use.

Well i think bitcoin will still the best and its impossible that each country will release their own altcoin.. we are already using bitcoin and more store are now accepting bitcoin as payment all over the globe so.. bitcoin will stay unless bitcoin collapse after block halving..