Bitcoin Forum

Do you think each country should create their own cryptocurrency?

Why or Why not?

No, currency should be universally accepted/used.

country currency's are nothing nut marketing bullshit.

If a cryptocurrency is created & supported by a country then it is not a marketing scheme. It's considered to be an official cryptocurrency for that country.

Why or Why not?

Why to fix up a country's economic situation and strengthen it by providing jobs and increase industries. Also, to kick out the banksters from that country that are destroying the their economy.

The fiat currency will no longer be needed and an altcoin will replace it. People from the country will begin using it and everyone will become prosperous.

Why not because there might be another scam like AUR coin there must be accountability within ANY Altcoin Development Team. And establish a Board to monitor his actions with the Altcoin and not repeat what happened with AUR coin.

A decentralized country-brand altcoin is just a stupid gimmick.

A official government cryptocurrency could be interesting:

Imagine if Switzerland released an official, mostly pre-mined government cryptocurrency and backed it with gold. Imagine that they actually allowed people to go to Switzerland and redeem it for gold. Since it would be an official government currency, foreign banks and foreign governments would quickly accept it and it would be tradeable on forex markets almost immediately. That means no need to wait for ETFs, no BITLICENSES, no China/Russia/Ecuador bans. It would be treated like any legitimate foreign currency. The gold backing would make it more stable and give it a price floor. With Switzerland's reputation for stability and the gold reserve backing, hell I would probably want to own some.

One drawback is that the Swiss government could blacklist your coins and make them irredeemable for the gold. (For this reason, there'd still be a market for decentralized, non-backed cryptocurrencies like bitcoin.) Then again, the Swiss government could blacklist stolen coins or issue mandatory edits/rollbacks to the blockchain to reverse thefts. Other governments could also start their own asset-backed cryptocurrencies. Russia could start an oil-backed crypto. And all the currencies would compete because it will be trivial to trade one for another and trivial to accept them all.

A state owned and minted crypto currency will not be the future, for the simple reason that this cannot be done. What will have a future however are cryptographically secured assets, which include state controlled currencies (Dollar, Euros, Yen) can be exchanged and used with all the technical benefits of a standard crypto.

Why not?

Official government cryptos (and maybe local govt or corporate cryptos) are the next logical step in the evolution of money.
...and in the evolution of state surveillance as well :).

who will constantly be profiting from exchange fees? the same moneychangers that got us here? no thanks.

Ecuador is making its own crypto.

https://www.cryptocoinsnews.com/ecuador-bans-bitcoin-favor-own-national-cryptocurrency/

Taking it one step further, Hull City Council in the UK has made its own crypto.

http://www.coindesk.com/hullcoin-worlds-first-local-government-cryptocurrency/

Should each area's council make it's own crypto?

No. What is the benefit of country cryptocurrency for us? Even if it's really exist I wouldn't use them.
I'll stick with Bitcoin, and support it to become the mainstream universal currency.

Ecuador banned bitcoin then created its own coin. I heard Russia was planning to do the same, though it might have only been a rumor.

Lets presume a state launches its own crypto and replaces its old currency with a new cryptocurrency. In this community we define a cryptocurrency probably along the lines of: A decentralized protocol that governs a public ledger keeping track of cryptographic tokens (currency units). If this crypto is truly decentralized everybody in the world will have a direct influence on the currency, no matter how the particular government seems fit do adjust it according to its countries interest. To defend the interest of the particular country and its people (essentially what government should be about) a reserve would have to be created to act as a "secondary" mint type. The government would then be in full control of the asset and therefore be able to adjust the protocol to their needs, defeating the whole point of a cryptocurrency.

 The time of the Internet has  brought upon us a new digital phenomenon known as cryptocurrency and in future this encrypted software (cryptocurrency) will operate most of the markets for transactions.

Prefer to have only 1 currency and everyone use it, instead of a lot of currency and you have to convert every-time you travel.

Oh that's coming the Elite been conditioning the masses with the "New World Order" propaganda for decades now. And 100% positive they've prepared a one world cryptocurrency years in advance.

It could be Bitcoin or better one!

Cryptocurrency should be international.