Bitcoin Forum

Many non-developed countries want to issue their own cryptocurrency. Among these there are:

Belarus
Russia
Poland
Kazakhstan.

In the white paper of these cryptocurrencies, it is written that they will not be anonymous and will be controlled by the country itself.

I want to know if the future of these crypto currency. Now there are a lot of cryptocurrencies, mainly they are speculated and not used for their intended purpose.

If goverment start to controling cryptocurrency too it has no different from fiat. people chose cryptocurrency such bitcoin because i can use it without anyone know who really i am.

Petro already started
u can google it
but i think its not point :)
russians want to make crypto rubles and future to cashout crypto form it with fixed price on national currency with 13% vat

I think that the very essence changes if there is such a cryptocurrency.

This one is personal.... :o :o
Poland is a non-developed country?

You are honestly comparing Poland to Belarus and Kazakhstan?

When a digital currency is controlled by the government, then it got no different with fiat, people dont want that kind of things anymore, if they want a centralized currency they will choose fiat, so I dont see this thing will work out, the government need to think a better solution to develop the country economics

I have the same opinion, I just want to understand why it is needed?

what is a "non-developed country"?
we have developed and under developed or developing!

and what is your point here?
of course when a country creates a centralized currency like their fiat and banks, it will not be anonymous and fully controlled by the country itself. it is fiat after all just with a new technology!

also do you have any links to their papers? i have never been able to locate one so far!

these cryptocurrencies should not be compared with majority of cryptocurrencies specially not with bitcoin because bitcoin and some others are decentralized but these ones will be centralized and exactly like fiat.

If each country develops their own cryptocurrency and use the eth blockchain technology just as Canada government did I think it is something positive, for transparency and fairness with citizens, I would like to see that kind of scenario, but there would also be other cryptocurrencies of course so you don't need to worry.

The very idea of cryptocurrency is very good, many people think that this is not right and they are afraid of cryptocurrency. But I like them.

Well..

1) Russia is not a non§developed country. I understand what you mean, but still, please, pay attention to the words you are using.

2) A crypto which is not anonymous and controlled by an institutionnal authority... Is not a crypto. Again, I understand the idea: those States want to launch a 100% digital money, but this characteristic is not enough to call it "crypto".

3) Nobody knows what the future of crypto is. I guess that if some States are ready to take real risks launching their own digital currency, then it is a good signal for the real cryptos! :)

the governments who understand crypto will always look for a scope to launch state-backed crypto so that they can control it just as fiat. So, I see good future for such cryptos.

Thank you, very good answer. And it became a little clear what's wrong, again this is your opinion, and the more opinions the more options there are.

There's only a future for a national cryptocurrency if the government adapts to the cryptocurrency so it decentralizes power instead of the government adapting the cryptocurrency and centralizing the money.

A substantial number of people who have invested in BTC and altcoins are anarchists. They won't touch ever any national cryptocurrency. I understand it could raise cryptocurrency interest though, but only at a local level. Nobody outside Russia wants rubles, and nobody outside Russia will want a Russian cryptocurrency, so the whole thing is doomed. It will only make BTC stronger, because it is the real cryptocurrency, safe from any government's actions.

Most likely they would all turn out like Ripple (XRP) due to centralized Blockchain the users would not even remain anonymous with sending transaction unlike with fiat. Yes Fiat is  centralized but, it does not have any database when it comes to sending and reciving money. people would still support Bitcoin. No one would even support a cryptocurrency that is controlled by a country

The total amount of money in my opinion will increase if everyone wants to issue their own cryptocurrency

Cryptocurrency that is not anonymous, contolled by government and which you can't mine is not a national CRYPTOcurrency. It's just one more kind of common national currency

Would you use such currency?
With the same you can just use a visa.

I think that in the future, it would be possible for each country to have this kind of cryptocurrency. But I think that is not too much of a necessity as it is not so different from each other's current currency, given that each country's crypto will have a certain degree of control over it coin his and that makes investors not interested.

It turns out to be the one who will start earlier?

Maybe? Does it even need a future to exist? It'll be fully regulated by the government, so it's likely that they'll be regulating the price as well. I don't know how they're going to work, but I simply imagine them as digital fiat. It wouldn't matter if no one is using them, they're still going to retain their value.

I personally think that's pointless, because as someone else mentioned, transacting with a credit card is likely just as easy. Granted, you won't have to pay annual fees and the like, but I don't feel like it will make a huge difference. They're going to have to offer incentives for using them because it would be cheaper in the long run, not needing special machinery and raw materials to produce.

You want to say that banks will begin to lower rates on loans, and so they are now struggling with cryptocurrency?