Bitcoin Forum

What would be the benefits of a government doing this? Which ones are likely to try first? Would you want to buy into this currency?

a government  with the help of own cryptocurrency plans to cut spending on circulation of traditional paper money and increase control over the money supply.

Governments have to embrace cryptocurrency because its the future of financial system.

The government starting its own cryptocurrencies is very much akin to it managing the economy and the next important is what are the requirements that must be met before someone can be able to get some of the government cryptocurrency.

They will sort of be able to control it. Also, they don't want their citizens to use other cryptos such as Bitcoin, Ethereum, Monero and such. They would prefer their people to adopt a country crypto. I believe China will do something similar in the near future.

Bitcoin and other cryptos seems to be a treat to government that's why they would want to do their own cryptocurrency in order for them to take control of it and to stop people in using and investing in bitcoins and other altcoins which they can control. They want to embrace the innovation which happens to our world and also want to know the result on what will happen to this innovation and advances in technology.

It's really all about control. Think about it, they have total control of the economy currently because on they have the right to print currency. As crypto start becoming more popular, it's only natural that they'd try to compete.

I think they want to have control over crypto currency,
And for me I don't want to invest my money in such crypto currency I think they just want to make the crypto currency centralized .

They still want to retain some sort of control over finances. I don't think these should be crypto, since these are fiat in all but name. Most governments would want eventually stop printing cash and just have digital versions of their fiat. No expense minting those, not to mention they'd have more control of the banking industry. Imagine, they can simply lock your bank account and you're done.

Blockchain technology will be the future for real currency
Since nature resources like gold keep depleting, the currency basic will be seriously affected once not more natural resources to mine and support the currency
Blockchain and cryptocurrency, and also the crypto mining technologies will be the solution in future to overcome the problem of real world mining system which backing a country currency

No, the crypto from government wont be decentralized, and all the transaction will be supervised, it is impossible for the government create a crypto so that you can hide your transaction, and the government think that crypto can make the country economic become better

just to have countrol over money supply

just bcus dey want to scam d masses

Control is the main idea of government involvment in cryptocurrency. If you are watching the news the USA government is working to control the value just for the fight of decentralization.

Bitcoin and other cryptos seems to be a treat to government that's why they would want to do their own cryptocurrency

I see them making tethered currencies to get the technological benefits of cryptos without threatening their own currency.

Cause otherwise if a govt makes crypto it will automatically devalue their current currency by a lot which will be bad for their economy in short term. Which is a gamble i dont see any politician taking.


On a different but related note, Mankind first seems to be forming a global govt with crypto early stage but im really interested to see how its going to go.

just to av control over the masses

I see them making tethered currencies to get the technological benefits of cryptos without threatening their own currency

its highly risky buying into govn stuff....cuz dre wont b centralized

wont go with a centralized govn system

which government?
never mind - they're all lazy and stuck in old ideas...

 to get the technological benefits of cryptos without threatening their own currency

The benefits the government will get is that they can put taxation on it. They can regulate the flow of it. I've heard that Israel is trying to create their own crypto. Nah I wouldn't because it loses it's meaning.

It's simple.  they see it as if they have there own crypto then they can take a slice of the pie.
It would not surprise me if we started seeing gov backed coins that will directly link to banks in the future

The point of crypto currency is decentrynized and the governmental crypto currency is ... surprize, will be centralized. That's why a little number of people would buy it and that currency won't be popular.

to control cryptocurrencies

You're probably right. Lets face it, crypto is booming right and would likely be an essential part of the future. That's why a lot of countries are open as well to the notion of incorporating it to their local markets. In the long run it can boost an economy effectively

Government will not start its own cryptocurrency, it wants to take the control  all about cryptocurrencies. So they start a war on cryptos because they cant stop crypto world in all areas of the world. So they want to control crypto world.