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Bitcoin => Bitcoin Discussion => Topic started by: Database on December 15, 2016, 12:54:34 AM



Title: Country's creating their own Crypto Currency
Post by: Database on December 15, 2016, 12:54:34 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?


Title: Re: Country's creating their own Crypto Currency
Post by: RawDog on December 15, 2016, 12:55:28 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 


Title: Re: Country's creating their own Crypto Currency
Post by: mrcash02 on December 15, 2016, 01:05:22 AM
Yes, maybe more countries further Canada can try this experience. Depending the government and the country reputation it can work, who knows... It could be a smart move from a government to endorse Crypto-Currencies idea and give better opportunities to their citizens use money smartly. On the another hand, some governments can try this to control their people actions. If the purpose is good, it must be encouraged, otherwise no.


Title: Re: Country's creating their own Crypto Currency
Post by: European Central Bank on December 15, 2016, 01:14:54 AM
no national currency of any type will ever resemble bitcoin in any way. there's no reason for it to operate in the same way and there's absolutely no way they'd relinquish the ability to do what the hell they want to it.

a national digital currency would make the case for bitcoin even more stark. they could track your every expenditure and shut you down wherever and whenever they wanted.


Title: Re: Country's creating their own Crypto Currency
Post by: shinratensei_ on December 15, 2016, 01:52:16 AM
Canada already made one and totally failed.  Canada are leaders at failing.  
Will chinese follow it? the interesting thing for watch it soon.  :D


Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Some will be creating it. There was a plan about that since the crypto was booming. the crypto nation will become the additional currency.

Their citizens = money walking.


Title: Re: Country's creating their own Crypto Currency
Post by: rapazev on December 15, 2016, 02:23:08 AM
to me, it would ruin the whole point of a cryptocurrency(decentralization).
it would be mined only by them and totally controlled by them, so it would be the good and old FIAT we know.

countries need to start to accept bitcoin, that would be good.


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on December 15, 2016, 02:32:24 AM
to me, it would ruin the whole point of a cryptocurrency(decentralization).
it would be mined only by them and totally controlled by them, so it would be the good and old FIAT we know.

countries are making their own.. look at HYPERLEDGER

dont expect them to accept bitcoin at any institiutional level. only at retail level


Title: Re: Country's creating their own Crypto Currency
Post by: iamTom123 on December 15, 2016, 03:36:23 AM
This can be expected since the technology is already available and many governments may think that they can easily rival the success of Bitcoin. But adoption can be a different story. I don't think any country/government can easily introduce their own cryptocurrency except maybe if there would be a law forcing people to adopt...but this very idea goes against the basic principle of the decentralized digital money and hence making the introduced coin practically worthless and less attractive...:)


Title: Re: Country's creating their own Crypto Currency
Post by: ~Bitcoin~ on December 15, 2016, 03:47:45 AM
Will chinese follow it? the interesting thing for watch it soon.  :D
Atleast chinese government are doing research on blockchain tech http://calvinayre.com/2016/10/21/business/china-publishes-countrys-first-blockchain-research-report/

Actually many other countries are also conducting several research on use cases of blockchain tech including creating countries own crypto which will be centralized and backed by real cash/gold with infinite inflation just like paper cash we have now. They can't just compete with bitcoin, they will not get same level of community support bitcoin have.


Title: Re: Country's creating their own Crypto Currency
Post by: MingLee on December 15, 2016, 04:31:10 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Governments trying to make their own cryptos is just a recipe for disaster; no-one would want to (and no-one does) use it, and it nose-dives as everyone ignores it.

The best they can do is digitize their currency, if they don't do that then there is no point for anyone to change. No-one uses a government crypto, it goes against everything cryptos are, to an extent.


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on December 15, 2016, 04:42:12 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Governments trying to make their own cryptos is just a recipe for disaster; no-one would want to (and no-one does) use it, and it nose-dives as everyone ignores it.

The best they can do is digitize their currency, if they don't do that then there is no point for anyone to change. No-one uses a government crypto, it goes against everything cryptos are, to an extent.

no.
blockchain is just a layer above relational databases.
bitcoin has many many layers ontop of that.

bitcoins ethos versus other coins/chains ethos, layers of security/utility can differ.
'crypto's/blockchain in general doesnt have a defined ethos to which its deemed a bank "is going against"

blockchain is nothing special alone. though it does open up the ability to program extra layers such as POS/PoW, immutability/editability.. distributed publicly/privately .. but those extra layers are not the base definition of blockchain. they are layers above it.

take hyperledger.
yes its base layer is a blockchain. but then has PoA, sidechain, a different way of coin creation, and other things.
making hyperledger like 4-5 layers of security ontop of 'blockchain'
bitcoin is atleast 10 layers ontop of 'blockchain'

as for governments..
governments dont get involved with money creation directly. thats what they have banks for.
national banks (tethered to governments) are looking into hyperledger as their method of international commerce.
commercial banks(not tethered to governments) are looking into hyperledger as their method of international commerce.

and one of the sidechains they will have is a FIAT sidechain to as you say "digitise their national currency". though citizens wont see much of a change happen publicly because its pretty much just a swap from one database structure to another to be more efficient and cost saving for the banks, but thats internal changes not external
other sidechains will be their behind the scenes 'financial products' like derivatives, promissory notes/credit agreements. insurance/stock/shares, etc


Title: Re: Country's creating their own Crypto Currency
Post by: error08 on December 15, 2016, 04:56:08 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Every country has their own currency and there is no point try to create new cryptocurrency instead of makes their currency as digital and stop issues paper money. I think China planning to launch their own cryptocurrency, http://www.straitstimes.com/asia/se-asia/the-coming-e-yuan-the-nation-columnist but develop according to blockchain technology which is used for bitcoin.


Title: Re: Country's creating their own Crypto Currency
Post by: pooya87 on December 15, 2016, 05:30:30 AM
in my opinion cryptocurrencies are good as long as they are not centralized, and any crypto currency that the government creates is going to centralized. and as it was said earlier, it is not favorable.
them using blockchain technology for other purposes is another story though.


Title: Re: Country's creating their own Crypto Currency
Post by: Jet Cash on December 15, 2016, 05:50:34 AM
I think the interesting one is Royal Mint Gold
http://www.royalmint.com/aboutus/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold
It appears to be a recognition by the UK government that existing fiat currencies may have a limited life, and that gold backed currencies may be the future. Using "digital gold" allows them to continue with fractional reserve banking without the bad associations with fiat money. At the moment it is not peer-to-peer, but no doubt developments in the future will rectify this.

I think this is such and interesting development that I registered English.Gold to build a site to discover what is going on. It's a bit early, so I have not found out much so far.


Title: Re: Country's creating their own Crypto Currency
Post by: Rizky Aditya on December 15, 2016, 06:01:46 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 
I doubt that any other countries would want to make a cryptocurrency after that catastrophe. And I don't think that a country would want to give up fiat and use a cryptocurrency instead.


Title: Re: Country's creating their own Crypto Currency
Post by: zidanw on December 15, 2016, 06:12:14 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
on other side it was a good thing, how about the tax? if no tax it would burden the state


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on December 15, 2016, 06:18:01 AM
I think the interesting one is Royal Mint Gold
http://www.royalmint.com/aboutus/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold
It appears to be a recognition by the UK government that existing fiat currencies may have a limited life, and that gold backed currencies may be the future. Using "digital gold" allows them to continue with fractional reserve banking without the bad associations with fiat money. At the moment it is not peer-to-peer, but no doubt developments in the future will rectify this.

I think this is such and interesting development that I registered English.Gold to build a site to discover what is going on. It's a bit early, so I have not found out much so far.

royal mint -> CME group -> hyperledger

im still shocked people are not hating on hyperledger as being the competitor to bitcoin.

is it simply that due to blind devotion of blockstream, that they cannot hate hyperledger because that means they have to finally fall on their own sword and hate blockstream too, knowing blockstreams involvement in hyperledger..


Title: Re: Country's creating their own Crypto Currency
Post by: valley365 on December 15, 2016, 06:23:31 AM
There are talks that US fed reserve should create their own coin, i.e. fedcoin, in order to eliminate the use of cash and have full tracebility on the money flow etc. See for example
https://fee.org/articles/do-we-need-the-fed-to-issue-cryptocurrency/


Title: Re: Country's creating their own Crypto Currency
Post by: Jet Cash on December 15, 2016, 06:35:05 AM
@franky1

Regardless of the companies and personalities involved. RMG seems to have created a bit of a stir. Recently there has been a mad rush into domain names that include RMG, and I think that they are a bad investment, but that is another issue. My point is that RMG is being hyped as an alternative to Bitcoin based on real gold, and that it is block chain based and thus has a distributed ledger to provide security. I think that all of those points are false, except for the fact that it uses a blockchain variant. It is government backed, and I believe it is part of the global attempts to create cashless societies.

Indirectly this will benefit Bitcoin imho.


Title: Re: Country's creating their own Crypto Currency
Post by: AGD on December 15, 2016, 06:49:33 AM
If a country creates a decentralized altcoin, where regular people can earn it by mining and support the network with nodes, it will certainly be a success. The only problem is: They would never do that.


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on December 15, 2016, 06:53:14 AM
@franky1

Regardless of the companies and personalities involved. RMG seems to have created a bit of a stir. Recently there has been a mad rush into domain names that include RMG, and I think that they are a bad investment, but that is another issue. My point is that RMG is being hyped as an alternative to Bitcoin based on real gold, and that it is block chain based and thus has a distributed ledger to provide security. I think that all of those points are false, except for the fact that it uses a blockchain variant. It is government backed, and I believe it is part of the global attempts to create cashless societies.

Indirectly this will benefit Bitcoin imho.

but then the question arrises. if RMG is a 'ledger' of assets backed by gold. that has utility beynd the 'crypto' because its real genuine gold..
but bitcoin is a ledger backed by....... maths and electric.

cant you atleast see where peoples desire for bitcoin will fade. because you cannot actually do much with the math and electric. but trading in RMG for real gold has other second/third market uses.

if you dont see it as a threat and see it as a positive for bitcoin.. then something is missing in the research/running scenarios you may be doing to come to your conclusions.

trying to hype bitcoin on a bitcoin forum is like hyping up igloo's to eskimo's. they know and live it. they dont need hype
we know what bitcoin does. we dont need to give hope and just sit on our hands. we need to stick to reality and see what the competition is doing and then seeing what we can do to add more utility to bitcoin to compete.


Title: Re: Country's creating their own Crypto Currency
Post by: btccashacc on December 15, 2016, 06:57:38 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
I never heard any countries creating their own crypto before, i just heard that their governments are only interested on blockchain technology for this reason i think they just want to digitize their official currency and change their traditional systems that they're using right now.
Though it's only a plan, if someday they create their own cryptocurrency it must be centralized i personally don't like that kind of thing.


Title: Re: Country's creating their own Crypto Currency
Post by: davis196 on December 15, 2016, 07:01:58 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

I don`t want any cryptocurrency to fully replace paper money.

We still need both cryptocurrencies and paper money.

The whole idea of a governmentcoin is totally stupid.


Title: Re: Country's creating their own Crypto Currency
Post by: Jet Cash on December 15, 2016, 07:08:32 AM
Sterling and the US dollar were both assets backed by gold, and bank notes could be exchanged for gold. Then both countries went off the gold standard and became virtual currencies. Fractional reserve banking coupled with toxic debt is leading to the eventual destruction of fiat currencies. Some countries are attempting to avoid this by endeavouring to create cashless societies. The recent actions in India and Venezuela would appear to be tests for this shift. I am wondering if RMG is a more sophisticated alternative. As I see it, the "blockchain" is not tied to physical gold by PoS, and may include paper gold and fractional reserves. They just state that gold assets are kept at a neccessary level without defining that, so it appears to be just another banking operation.

My comment about possible benefits to Bitcoin was based on the government attempts to ban cash, and my personal preference would be for an investment in Bitcoin rather than in RMG. Possession of physical gold is another matter of course.


Title: Re: Country's creating their own Crypto Currency
Post by: Jet Cash on December 15, 2016, 07:12:34 AM

I don`t want any cryptocurrency to fully replace paper money.


Fiat currency ( paper money ) is just cryptocurrency ( virtual currency ) without the cryptography imho. :)


Title: Re: Country's creating their own Crypto Currency
Post by: BingoDog on December 15, 2016, 11:07:59 AM
Governements have no interest in that at all. Why would they create something that they can't control fuly and that could become a rival to the fiat money and centralized finacial system? Makes no sense. And to fight the bitcoin they are usualy using other methods.


Title: Re: Country's creating their own Crypto Currency
Post by: talkbitcoin on December 15, 2016, 11:29:30 AM

I don`t want any cryptocurrency to fully replace paper money.


Fiat currency ( paper money ) is just cryptocurrency ( virtual currency ) without the cryptography imho. :)

also fiat currency is without the decentralization, security and being able to do it on your own of crypto currencies! :D


Title: Re: Country's creating their own Crypto Currency
Post by: dihari on December 15, 2016, 11:31:06 AM
I don't know any country create their own crypto currency.
But I think this is a good idea when the government can control their own money.
Note: this idea only work in countries with communism ideology.


Title: Re: Country's creating their own Crypto Currency
Post by: xuan87 on December 15, 2016, 11:39:02 AM
I kind of heard there were countries want to try to develop their own coin, but i don't think it will succeed, the trust level from citizen is really low, the main reason most of the people using bitcoin is because they want to have a currency that free from government control, if the government create their own crypto then the user will question the motive, and the citizen won't be so easy to trust it and if the usage is low then the coin will slowly become dead coin


Title: Re: Country's creating their own Crypto Currency
Post by: Senor.Bla on December 15, 2016, 11:44:09 AM
A GovCoin could be a very effective instrument for the government. Right know nobody want to be the first one to try, since they are not informed well, think it would fail, and do not want to take the unnecessary risk, if they have it on their radar. Most likely a private company will make one and push for it to become the GovCoin, which would be bad, but is the most likely way it will happen. I just hope Bitcoin and such will be widely known at this point, so that a GovCoin would fail instead of replacing Bitcoin.


Title: Re: Country's creating their own Crypto Currency
Post by: Fatanut on December 15, 2016, 12:13:05 PM
I kind of heard there were countries want to try to develop their own coin, but i don't think it will succeed, the trust level from citizen is really low, the main reason most of the people using bitcoin is because they want to have a currency that free from government control, if the government create their own crypto then the user will question the motive, and the citizen won't be so easy to trust it and if the usage is low then the coin will slowly become dead coin
You're saying that as if every single person in the world doesn't trust their government. It's actually the opposite. The majority still trusts the government. Countries having their own crypto-currency will open up ways for the majority of people to learn things about crypto-currencies and its advantage. It will also lead to learning what bitcoin is, which is good for us because it might even lead to mass adoption.

Right now, we can't say what would happen. We don't know if it would have a good or bad effect. We can just predict, speculate, and hope that everything works out as we all want it.


Title: Re: Country's creating their own Crypto Currency
Post by: fortunecrypto on December 15, 2016, 04:05:44 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

I think it was MintChip launch 2014,they can succeed if they try it again,a government supported blockchain has a good chance to suceed ,because they have the manpower and the resources,but in my opinion I don't want one coming from a government,because they will and can impose their will and rules on users.


Title: Re: Country's creating their own Crypto Currency
Post by: carlerha on December 15, 2016, 07:58:52 PM
Governements have no interest in that at all. Why would they create something that they can't control fuly and that could become a rival to the fiat money and centralized finacial system? Makes no sense. And to fight the bitcoin they are usualy using other methods.
yes presently countries are not yes interested in creating their own crypto currency but i think if they fell the need then they must think about it, but i think it will still not be so much popular because it will be limited and regional crypto currency and will not a universal one.


Title: Re: Country's creating their own Crypto Currency
Post by: valley365 on December 16, 2016, 01:12:19 AM
Governements have no interest in that at all. Why would they create something that they can't control fuly and that could become a rival to the fiat money and centralized finacial system? Makes no sense. And to fight the bitcoin they are usualy using other methods.

On the contrary, the governments have a lot interests in creating such coins. Look at the trend that high value paper money are being removed from the system, and government hope to transit to electronic money where they have much more control in terms of how the money flow etc.


Title: Re: Country's creating their own Crypto Currency
Post by: Conus on December 16, 2016, 01:42:59 AM
I have heard from some conspiracy theorists that the US government is working with a few other governments to do this, but I am not beleiving this because there is no way to tax us for this as of yet, while still staying in control of it.


Title: Re: Country's creating their own Crypto Currency
Post by: chaser15 on December 16, 2016, 02:17:28 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

As far as my wisdovoid(0)m of knowledge is concern, never heard of any nations that working on their own crypto. Just hearing some rumors here that government wants to create their own blockchain but didn't find any legit source as of now.

Nations will attempt to make that but I think for now it's not their priority. There are lots of problems facing in every country especially behind the first world countries. If ever there will a main attempt like that, it will be started by those developed countries.


Title: Re: Country's creating their own Crypto Currency
Post by: noictib on December 16, 2016, 02:43:06 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
I think it will not , Because I think every cryptocurrency is made by some people group and it depends upon that person to give the name for his cryptocurrency But it can't that any country will make own CRT because the main fact is that due to new cryptocurrency about every people of that country will make deal with that cryptocurrency without paying tax , So no income for the government , So I think not possible for any country to make own cryptocurrency


Title: Re: Country's creating their own Crypto Currency
Post by: Shiroslullaby on December 16, 2016, 02:47:12 AM
though citizens wont see much of a change happen publicly because its pretty much just a swap from one database structure to another to be more efficient and cost saving for the banks, but thats internal changes not external
other sidechains will be their behind the scenes 'financial products' like derivatives, promissory notes/credit agreements. insurance/stock/shares, etc

When big governments do begin to use some sort of blockchain/ ledger technology,
like franky1 pointed out, the average person won't even know the difference.
They will just see the total in their bank account, and never give a second thought to the technology that makes it work.
It will all be taking place on the back-end where most don't know about/ care about/ think about.


Title: Re: Country's creating their own Crypto Currency
Post by: Lionidas on December 16, 2016, 02:47:36 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

I thought Canada is good with everything but it seems they have failed with that one. Is that the CAD coin? Base on this article:
http://www.coindesk.com/bank-canada-demos-blockchain-based-digital-dollar/
I thought it was actually bitgold based out of Toronto that was the failure of the bitcoin industries attempt to make it separation from it's predecessor using gold as an escape goat.  ;)


Title: Re: Country's creating their own Crypto Currency
Post by: Yakamoto on December 16, 2016, 10:12:43 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

I thought Canada is good with everything but it seems they have failed with that one. Is that the CAD coin? Base on this article:
http://www.coindesk.com/bank-canada-demos-blockchain-based-digital-dollar/
I thought it was actually bitgold based out of Toronto that was the failure of the bitcoin industries attempt to make it separation from it's predecessor using gold as an escape goat.  ;)
Bitgold is doing fine from last I heard. I don't believe it failed with anything, and their goal has always been a form of gold purchasing and storage, as well as a debit card that can be deducted right from the account on Bitgold. They just happen to let people use Bitcoin to buy these gold blocks or whatever it is they have.

I think you're thinking of something dramatically different.


Title: Re: Country's creating their own Crypto Currency
Post by: CryptoVzla on December 16, 2016, 10:23:45 PM
Last year i heard about a crypto currency for Ecuador, also i heard that Bitcoin is banned over there but i don't know more... Probably they just failed like Canada


Title: Re: Country's creating their own Crypto Currency
Post by: audaciousbeing on December 16, 2016, 10:29:46 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

I will say it will be a total failure although I havent seen any country go that path but in the real sense its really going to be a waste of time because it will not be different from the Fiat currency that is different for countries which also means it wont be accepted by other countries and we will have to go through exchange to make that happen and we are back exactly where we started.


Title: Re: Country's creating their own Crypto Currency
Post by: Taki on December 16, 2016, 10:36:53 PM
I have no idea about that some country is creating it's own crypto currency. I think it's just hasn't sense and not wise. The wise would be to admit bitcoin on the same level as official currency of the country and to put some tax for all operations. that could bring money to the government and users would not have any big problems. And maybe bitcoin would be more safe in that case.


Title: Re: Country's creating their own Crypto Currency
Post by: alphablitzer on December 16, 2016, 10:42:43 PM
The idea of creating cryptocurrency per country is okay, then they can and will regulate it. But for the fact that the government can control it, it's not anonymous, not decentralized, and controlled by a medium. So it is the opposite of what the Bitcoin does. It's best to have just Bitcoin for everyone.


Title: Re: Country's creating their own Crypto Currency
Post by: Swisscoinex on December 16, 2016, 10:45:35 PM
The wise would be to admit bitcoin on the same level as official currency of the country and to put some tax for all operations.

Good luck for the admission claim, I think you're gonna be waiting a long time for that to happen. As for the tax on all operations, how do you technically enforce that ?


Title: Re: Country's creating their own Crypto Currency
Post by: nara1892 on December 16, 2016, 11:01:21 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money?

yes. Canada have tried, but they failed.


do you think any nations will attempt to do so to have more control over their citizens money?
probably. because their government want to control their citizen. but in my view, it will be so difficult to build a cryptocurrency that rival bitcoin. even some altcoins slmetimes do not work and end their business.


Title: Re: Country's creating their own Crypto Currency
Post by: shinratensei_ on December 17, 2016, 12:22:43 AM
Will chinese follow it? the interesting thing for watch it soon.  :D
Atleast chinese government are doing research on blockchain tech http://calvinayre.com/2016/10/21/business/china-publishes-countrys-first-blockchain-research-report/

Actually many other countries are also conducting several research on use cases of blockchain tech including creating countries own crypto which will be centralized and backed by real cash/gold with infinite inflation just like paper cash we have now. They can't just compete with bitcoin, they will not get same level of community support bitcoin have.
Blockchain system has become any responsibility for building the crypto. But some question about building the nation crypto.
Are they ready with the transparency? Or they just use it for the alternative fiat currency.
And in the crypto all about the transparency, If the country want to do it and they must ready for that.


Title: Re: Country's creating their own Crypto Currency
Post by: The_Dark_Knight on December 17, 2016, 12:34:53 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
They can do if they wish but you can bet they are not going to give up the ability to mine as many coins as they want, the ability to confiscate or freeze your funds, you will require verification to open a wallet and more, basically it will be the same as always except they will add the blockchain and that will be it.


Title: Re: Country's creating their own Crypto Currency
Post by: CryptoVzla on December 17, 2016, 01:07:36 AM
I just found this article https://news.bitcoin.com/shortcomings-central-bank-coins/ (https://news.bitcoin.com/shortcomings-central-bank-coins/)

it talks about the Danish e-Krone and projects on Canada, UK, Singapore and Sweden. So, someone has to make it, now i think, will the exchanges like Bittrex take this coins??


Title: Re: Country's creating their own Crypto Currency
Post by: noormcs5 on December 17, 2016, 07:12:40 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 
I doubt that any other countries would want to make a cryptocurrency after that catastrophe. And I don't think that a country would want to give up fiat and use a cryptocurrency instead.

Yes, because of ones failure it was everyone's impression that lasts, and I guess who will ever attempt to do so will have the same thing.


Title: Re: Country's creating their own Crypto Currency
Post by: manbitcoinlover on December 17, 2016, 07:29:44 AM
its never going to happen because the logic behind it is counter intuitive. Firstly, no country is sophisticated enough to create its own cryptocurrency, secondly, no country will take money and time to focus on creating such a thing, thirdly, no country will actually go and enforce their cryptocurrency on its citizens. Also, cryptocurrency involves being digitally savvy, something that many people are not. A nation has fiat and they focus on that.


Title: Re: Country's creating their own Crypto Currency
Post by: BitFinnese on December 17, 2016, 07:38:32 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

I will say it will be a total failure although I havent seen any country go that path but in the real sense its really going to be a waste of time because it will not be different from the Fiat currency that is different for countries which also means it wont be accepted by other countries and we will have to go through exchange to make that happen and we are back exactly where we started.

If they try to mimic bitcoin then I think they will definitely fail.  Because their concept of financial system is centralization while bitcoin is the opposite.  They were good at the beginning then somewhere in the middle they fail because they plan to execute what bitcoin or other cryptocurrency promotes like anonymity, but that will defeat their purpose of controling everything which then obviously break their law of individual privacy, making them to halt any development of that cyrptocurrency.


Title: Re: Country's creating their own Crypto Currency
Post by: kryptqnick on December 17, 2016, 09:39:33 AM
So far I've heard about Denmark and Sweden planning to do that but I think this will end as a failure, because it is an option not appropriate for nearly anybody. Those who use btc won't use country's currency, because they enjoy freedom whereas fiat fans will think of a digital currency as of something too unstable potentially even though it will be regulated by the government.


Title: Re: Country's creating their own Crypto Currency
Post by: Zadicar on December 17, 2016, 09:54:49 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

I will say it will be a total failure although I havent seen any country go that path but in the real sense its really going to be a waste of time because it will not be different from the Fiat currency that is different for countries which also means it wont be accepted by other countries and we will have to go through exchange to make that happen and we are back exactly where we started.

If they try to mimic bitcoin then I think they will definitely fail.  Because their concept of financial system is centralization while bitcoin is the opposite.  They were good at the beginning then somewhere in the middle they fail because they plan to execute what bitcoin or other cryptocurrency promotes like anonymity, but that will defeat their purpose of controling everything which then obviously break their law of individual privacy, making them to halt any development of that cyrptocurrency.
I think its still possible to mimic bitcoin but in a centralized coin.Fails do normally happens since there are really trial and error regarding on making crypto currency and it would takes time to perfect and test out that could able to show it or implement on whole nation maybe for now they cant really release it easily. Making own digital currency is not that easy.


Title: Re: Country's creating their own Crypto Currency
Post by: fikihafana on December 17, 2016, 03:40:32 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

What is the reason canada fail in cryptocurrency? Is it in goverment issue, or no support from their citizen?


Title: Re: Country's creating their own Crypto Currency
Post by: CryptoVzla on December 17, 2016, 08:54:55 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

What is the reason canada fail in cryptocurrency? Is it in goverment issue, or no support from their citizen?

I think it's the same failure as  Ecuador... no support from the people, probably they need an informative campaign or something


Title: Re: Country's creating their own Crypto Currency
Post by: PeRo on December 17, 2016, 09:07:09 PM
I have not heard about a story like that, but if some countries did it, they probably failed. No one is going to use a cryptocurrency and endorse it as a national currency, there is not much people that know about cryptocurrencies. It would be a wreck, cryptocurrencies are all about being decentralized.


Title: Re: Country's creating their own Crypto Currency
Post by: Kray on December 17, 2016, 09:34:26 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 

What is the reason canada fail in cryptocurrency? Is it in goverment issue, or no support from their citizen?

I think it's the same failure as  Ecuador... no support from the people, probably they need an informative campaign or something

it's same condition with pesobit, cryptocurrency from philipine. developer very active to reach their goal, but it looks like no support from community. But i hope, it won't happen with pesobit


Title: Re: Country's creating their own Crypto Currency
Post by: MFahad on December 24, 2016, 01:52:51 PM

Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 
I doubt that any other countries would want to make a cryptocurrency after that catastrophe. And I don't think that a country would want to give up fiat and use a cryptocurrency instead.

I think it would be hard to make the virtual money to be fiat one, if so, just make sure that the country know what will happen for them
to support it, but then again it would be hard, you must conduct many tests so it would be successful.


Title: Re: Country's creating their own Crypto Currency
Post by: BlackPanda on December 24, 2016, 01:59:27 PM
This could be an alternative. because it can make a country characterized by their digital currency. but there will be problems, is implementing the price when juxtaposed with bitcoin. ICO would be there, and it looks like an impossible thing for me.


Title: Re: Country's creating their own Crypto Currency
Post by: Labumi on December 24, 2016, 02:04:22 PM
This could be an alternative. because it can make a country characterized by their digital currency. but there will be problems, is implementing the price when juxtaposed with bitcoin. ICO would be there, and it looks like an impossible thing for me.

All the things that could give innovation and bigger or better is something that can indeed provide a change from all the things there are. For if we know something is true then all of them will give you a good profit. If ico can help us to get better compared with bitcoin, then it can all change all the things that exist in the bitcoin. Just look at these things in the future and we can prepare a few things that might happen


Title: Re: Country's creating their own Crypto Currency
Post by: Xester on December 24, 2016, 02:41:06 PM

Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
Canada already made one and totally failed.  Canada are leaders at failing. 
I doubt that any other countries would want to make a cryptocurrency after that catastrophe. And I don't think that a country would want to give up fiat and use a cryptocurrency instead.

I think it would be hard to make the virtual money to be fiat one, if so, just make sure that the country know what will happen for them
to support it, but then again it would be hard, you must conduct many tests so it would be successful.

Yes it is, the world is not yet ready for bitcoin only a few numbers in population are into bitcoin. Given this frequency even if a certain country creates an altcoin it will still not prosper due to many national issues. Before it will be implemented there should be an internet connection that is reliable and good. Next all of the populace should have a device such as a pc or a Android phone. And lastly there should be a good system and laws in the implementation.


Title: Re: Country's creating their own Crypto Currency
Post by: Vaskiy on December 24, 2016, 02:59:02 PM
As quoted more countries were into implementation of their own digital currency based upon Blockchain technology. At the same it won't be similar to our bitcoin just the fiat will get converted to digital form.


Title: Re: Country's creating their own Crypto Currency
Post by: delliaerd on December 25, 2016, 12:27:29 AM
As quoted more countries were into implementation of their own digital currency based upon Blockchain technology. At the same it won't be similar to our bitcoin just the fiat will get converted to digital form.
Yes you are right, those countries will only convert their fiat into digital. I think that currency just will be the same with altcoin so bitcoin will be the best option to all people. Also may be government can control and tax  on their own crypto currency. I more loves to use bitcoin becouse I see bitcoin as a freedom from government control and bank system.  I really sure that countries crypto currency can not replace bitcoin.


Title: Re: Country's creating their own Crypto Currency
Post by: tiggytomb on December 25, 2016, 12:30:30 AM
I don't think we will see countries creating a new currency as such, they will just move over the currency that exist onto a blockchain setup, there has been a lot of focus on blockchain this year from banks as well as governments.



Title: Re: Country's creating their own Crypto Currency
Post by: shinratensei_ on December 25, 2016, 01:09:53 AM
I don't think we will see countries creating a new currency as such, they will just move over the currency that exist onto a blockchain setup, there has been a lot of focus on blockchain this year from banks as well as governments.



Indeed, if it just converting the fiat for the crypto and to be the easiest way to get an implement on the blockchain governance. They will have made his digital ecosystem through the blockchain. The complex thing will make his system will be running for a better well. 


Title: Re: Country's creating their own Crypto Currency
Post by: Pearls Before Swine on December 25, 2016, 01:23:57 AM
no national currency of any type will ever resemble bitcoin in any way. there's no reason for it to operate in the same way and there's absolutely no way they'd relinquish the ability to do what the hell they want to it.

a national digital currency would make the case for bitcoin even more stark. they could track your every expenditure and shut you down wherever and whenever they wanted.
Indeed, and that's a scary proposition.  But my question is why would any one country want their own crypto?  Why not have the entire freaking world just use bitcoin or whatever one works best?  Is that not the point of bitcoin, to unite all of us with one world currency?  I get that it should be out of any one government's hands, but I'm just wondering.


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on December 25, 2016, 01:46:07 AM
no national currency of any type will ever resemble bitcoin in any way. there's no reason for it to operate in the same way and there's absolutely no way they'd relinquish the ability to do what the hell they want to it.

a national digital currency would make the case for bitcoin even more stark. they could track your every expenditure and shut you down wherever and whenever they wanted.
Indeed, and that's a scary proposition.  But my question is why would any one country want their own crypto?  Why not have the entire freaking world just use bitcoin or whatever one works best?  Is that not the point of bitcoin, to unite all of us with one world currency?  I get that it should be out of any one government's hands, but I'm just wondering.

if you want a country to adopt bitcoin. your talking about government.
if you want PEOPLE to adopt bitcoin then it should not matter what country they are in

governments cannot control bitcoin so they wont adopt it. they will make their own. they already are. look into hyperledger for the IMF2.0
as for people adopting bitcoin.
bitcoin has no arms or legs or a voice. it requires people to talk to other people to get people to adopt bitcoin.

so that will only happen if people like you go to the businesses you want accepting bitcoin and you ask them to accept bitcoin.
waiting for bitcoin to talk to a business is like waiting for the sun to talk to a factory hoping th sun can convince a factory to make solar panels


Title: Re: Country's creating their own Crypto Currency
Post by: Barbut on December 25, 2016, 01:55:34 AM
no national currency of any type will ever resemble bitcoin in any way. there's no reason for it to operate in the same way and there's absolutely no way they'd relinquish the ability to do what the hell they want to it.

a national digital currency would make the case for bitcoin even more stark. they could track your every expenditure and shut you down wherever and whenever they wanted.
Indeed, and that's a scary proposition.  But my question is why would any one country want their own crypto?  Why not have the entire freaking world just use bitcoin or whatever one works best?  Is that not the point of bitcoin, to unite all of us with one world currency?  I get that it should be out of any one government's hands, but I'm just wondering.

I have simple answer on your questions, firat is that governments want to control their citizens as much as possible, some governments will try to control even bitcoin. Also profit is important, how will government tax the bitcoin, how will they make profit from distribution, credits, loans. With their own crypto currency they will be able to set up things as they wish it.
Second answer is connected with first one, how will they allow us to use something that is not controlled by them? I expect them to fight back in some moment, I mean some more serious actions against bitcoin.


Title: Re: Country's creating their own Crypto Currency
Post by: Wind_FURY on December 25, 2016, 02:09:09 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

You do not get it. First please clarify. When you say a "national cryptocurrency", what do you mean? Will it be like Bitcoin or something else like a POS coin? Because if it is going to be exactly like Bitcoin then that nation is giving up control of its national currency. So why not use Bitcoin instead? Why create a digital version of national IOU?


Title: Re: Country's creating their own Crypto Currency
Post by: Farma on December 25, 2016, 03:50:55 AM
if each country makes its own CryptoCurrency. Well, if that happens, I feel that I will keep looking for bitcoin. I have good reason to look for bitcoin. in addition to their high price, bitcoin has been reliable since the first, so I would not hesitate to seek it. different from the others, or Crypto Currency is new. Crypto new Currency, or who owned the state, will not guarantee that it would get more than bitcoin.


Title: Re: Country's creating their own Crypto Currency
Post by: Mlich on December 25, 2016, 07:56:01 AM
if countries wanted to regulate and control a crypto currency creating their own Crypto Currency would be their best option to start with but this would be expensive to build


Title: Re: Country's creating their own Crypto Currency
Post by: lumeire on December 25, 2016, 11:01:09 AM
I suppose Venezuela can benefit from this, if they'd try. The financial situation there is a mess.


Title: Re: Country's creating their own Crypto Currency
Post by: Juggy777 on December 25, 2016, 11:10:31 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

They can try all they want but what they never can understand is that bitcoin worked cause it was decentralised and all these will be centralized and easy to manipulate. They won't ever succeed. And don't ever fall in their trap you will loose stick to Bitcoin it's best. So try and acculumate Bitcoin only and ignore this all stuff you will be safe. 


Title: Re: Country's creating their own Crypto Currency
Post by: Tanic on December 25, 2016, 11:11:21 AM
Such idea as making its own crypto currency by some country looks for me as just more way to get money from citizens in the form of taxes to it go in the wallet of this people who are working in the government.


Title: Re: Country's creating their own Crypto Currency
Post by: zahra4577 on December 25, 2016, 11:26:45 AM
I am not aware of any country officially announced creating or intending to create own cryptocurruncy but four major bank s UBS, Deutsche Bank, Santander and
Bank of New York Mellon are developing their own blockchain and I hope central banks will soon follow the suit


Title: Re: Country's creating their own Crypto Currency
Post by: Shenzou on December 25, 2016, 05:57:56 PM
I think that the world today is headed toward using internet more and more in banking shopping and everything and that is where the world is headed to, so it may be a good idea to use a crypto curency specific to each country , it could make sending money over seas much easier , it could help the investments in the third word .


Title: Re: Country's creating their own Crypto Currency
Post by: energycr on December 25, 2016, 06:01:00 PM
I did hear that somewhere in Europe (Denmark perhaps  :-\ ) that there is a small town that accepts bitcoin at most of there shops on it's main street.
They were saying they were going to be the first place in the world where eventually their entire ecosystem will revolve around bitcoin. And have a flag for it too? :)


Title: Re: Country's creating their own Crypto Currency
Post by: whizter on December 25, 2016, 07:17:32 PM
if countries wanted to regulate and control a crypto currency creating their own Crypto Currency would be their best option to start with but this would be expensive to build
but to me i think still it cannot be compare with bitcoin, as the alt coin make by the countries will also be centralize, while bitcoin is a decentralize currency, having same value all over the world.


Title: Re: Country's creating their own Crypto Currency
Post by: hurain on December 25, 2016, 10:39:10 PM
if countries wanted to regulate and control a crypto currency creating their own Crypto Currency would be their best option to start with but this would be expensive to build
but to me i think still it cannot be compare with bitcoin, as the alt coin make by the countries will also be centralize, while bitcoin is a decentralize currency, having same value all over the world.
actually the governments are not realizing the increasing the demand of bitcoin, people are now giving preference to online trading using bitcoin, therefore government may have decided to create their own currency and implement it in their own country.


Title: Re: Country's creating their own Crypto Currency
Post by: Wind_FURY on December 27, 2016, 03:45:43 AM
I suppose Venezuela can benefit from this, if they'd try. The financial situation there is a mess.

Really? How? What kind of a cryptocurrency implementation do you think will benefit the country? I think you are only talking out of your ass and do not really know what you are talking about.

If you are talking about a trustless Proof of Work coin supported by the miners, the developers and the community but controlled by no one then would it not be better to use Bitcoin instead? But really what are you talking about? A national crypto ponzi scheme?


Title: Re: Country's creating their own Crypto Currency
Post by: raaajlucky on December 27, 2016, 04:22:07 AM
if countries wanted to regulate and control a crypto currency creating their own Crypto Currency would be their best option to start with but this would be expensive to build
but to me i think still it cannot be compare with bitcoin, as the alt coin make by the countries will also be centralize, while bitcoin is a decentralize currency, having same value all over the world.
actually the governments are not realizing the increasing the demand of bitcoin, people are now giving preference to online trading using bitcoin, therefore government may have decided to create their own currency and implement it in their own country.
In my country our government not thinking about this bitcoin. So maybe it takes some years to create own cryptocurrency in my country. The online gambling is still not popular in my country. People are playing hidden gambling in some hidden place. So when this online gambling becomes more popular, then bitcoin will become familiar later our govt will think about own cryptocurrency.


Title: Re: Country's creating their own Crypto Currency
Post by: Supercrypt on December 28, 2016, 08:43:50 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
It is a good idea for countries to create their own unique crypto currency but I don’t think that that it will be something for regular people to do  , it is a good way for investors and huge companies to exchange money or to send money overseas much faster.

Still, that will create a disatvange because if each country has their own currency there will be high exchange rate and low exchange rates , so the only solution is to use one international currency.


Title: Re: Country's creating their own Crypto Currency
Post by: larryfromjapan on December 29, 2016, 12:46:12 AM
The only way it could be any where close to bitcoin is if the country does 100% premine. It will still be decentralized..... Yes/no?


Title: Re: Country's creating their own Crypto Currency
Post by: avatar_kiyoshi on December 29, 2016, 11:00:55 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
It is a good idea for countries to create their own unique crypto currency but I don’t think that that it will be something for regular people to do  , it is a good way for investors and huge companies to exchange money or to send money overseas much faster.

Still, that will create a disatvange because if each country has their own currency there will be high exchange rate and low exchange rates , so the only solution is to use one international currency.

The government cryptocurrency is just a change form of paper money to digital currency, which means the network, system and uses is same as paper money, centralized. The government will not let people let it be, always wants to control people, no doubt.
This thread provide if the country have a plan to make their own cryptocurrency: https://bitcointalk.org/index.php?topic=1717688.0


Title: Re: Country's creating their own Crypto Currency
Post by: machinek20 on December 29, 2016, 12:12:20 PM
There is a country that create their own crypto coin, but it is not to replace their fiat, and to be honest i dont know why a country want to create their own coin, the coin will be the same with fiat only in digital form, impossible a country will create decentralize crypto, if that happened nobody will want to use fiat again


Title: Re: Country's creating their own Crypto Currency
Post by: sportis on December 29, 2016, 12:24:13 PM

actually the governments are not realizing the increasing the demand of bitcoin, people are now giving preference to online trading using bitcoin, therefore government may have decided to create their own currency and implement it in their own country.

From my point of view the opposite happens. Governments and banks have been aware of an increased interest of bitcoin all around the world. For this reason they have in their plans to create their distributed ledger and their own currencies. Some or them they already have experiment with digital currency (Estonia, CUBER – LHV Bank).


Title: Re: Country's creating their own Crypto Currency
Post by: webtricks on December 29, 2016, 12:28:43 PM
Not country, but bank in India is doing so.

Here's the excerpt from ICICI Bank's wikipedia page-

"In October 2016, ICICI Bank, in partnership with Emirates NBD, became the first Indian Bank to successfully execute transactions in international trade finance and remittance using blockchain technology. The blockchain technology replicates the paper-intensive international trade finance process as an electronic decentralised ledger that gives all the participating entities including banks the ability to access a single source of information. It has enabled the Bank to exchange and authenticate remittance transaction messages as well as original international trade documents related to purchase order, invoice, shipping & insurance, among others, electronically on blockchain in real time.[50]In addition, ICICI Bank is currently working to put together programs that will let people transfer money inside and outside the country through the Stellar (payment network) blockchain platform."


Title: Re: Country's creating their own Crypto Currency
Post by: FaucetRank.com on December 29, 2016, 01:35:36 PM
There is a country that create their own crypto coin, but it is not to replace their fiat, and to be honest i dont know why a country want to create their own coin, the coin will be the same with fiat only in digital form, impossible a country will create decentralize crypto, if that happened nobody will want to use fiat again
Yes agree with you till now there is no reason for governments to create Crypto currency and if governments want digitization than Banks already performing digital transactions, you just need online banking option active with bank.


Title: Re: Country's creating their own Crypto Currency
Post by: LFC_Bitcoin on December 29, 2016, 01:52:34 PM
Nationally run/created cryptocurrencies defeat the whole concept of what bitcoin is. I don't think any of these proposed cryptocurrencies will ever take off, not with people actively & knowingly using them.


Title: Re: Country's creating their own Crypto Currency
Post by: Tanic on December 29, 2016, 01:56:59 PM
There is a country that create their own crypto coin, but it is not to replace their fiat, and to be honest i dont know why a country want to create their own coin, the coin will be the same with fiat only in digital form, impossible a country will create decentralize crypto, if that happened nobody will want to use fiat again
I do not see the idea of why countries create theirown crypto currency. To govermnet would me more profitable to admit bitcoin as ordinary payment instrument, on the same level with fiat and just to put necessary taxes on the use of crypto currency.


Title: Re: Country's creating their own Crypto Currency
Post by: BitcoinPanther on December 29, 2016, 02:29:35 PM
if countries wanted to regulate and control a crypto currency creating their own Crypto Currency would be their best option to start with but this would be expensive to build
but to me i think still it cannot be compare with bitcoin, as the alt coin make by the countries will also be centralize, while bitcoin is a decentralize currency, having same value all over the world.
actually the governments are not realizing the increasing the demand of bitcoin, people are now giving preference to online trading using bitcoin, therefore government may have decided to create their own currency and implement it in their own country.

I think the government are aware of the increasing popularity and demand of bitcoin.  Government have intelligent people working, I bet they already researched and discussed about bitcoin in their conferences.  With the success and impact of digital currency, they probably find it useful if they create their own, since they cannot use bitcoin because of several factors and one of it is control and regulations.


Title: Re: Country's creating their own Crypto Currency
Post by: Xester on December 29, 2016, 02:54:02 PM
The recent news today is that China is planning to create a fiat digital currency which also has blockchain technology and is like bitcoin. This cryptocurrency concept that will replace Yuan is purposely made to combat tax evasions, forgery and money-laundering, etc. Though it is not clear if this currency that they are going to create is decentralized or not, but in my opinion it is centralized and monitored by the government otherwise they cannot implement their war against tax evasion and money laundering if they cannot monitor it.


Title: Re: Country's creating their own Crypto Currency
Post by: Sithara007 on December 29, 2016, 02:59:41 PM
One of the main advantages of Bitcoin, over other modes of online payment is that it is decentralized. If a country is creating its own currency, then it will be controlled by the central bank of that country, and therefore it will not be decentralized.


Title: Re: Country's creating their own Crypto Currency
Post by: CyberKuro on December 29, 2016, 03:16:24 PM
Every nation could possibly create their own cryptocurrency but based on their fiat I thought which mean from physical fiat into digital currency. It doesn't matter, they won't compete with bitcoin due to bitcoin still has the best benefits.
As long their crypto backed by central banks, the system still the same and we can consider nothing change except the form of the money.


Title: Re: Country's creating their own Crypto Currency
Post by: CraigWrightBTC on December 29, 2016, 03:42:01 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
I think not, there are no countries that building their own coins at least for today.
I don't think so, I think the government will choose gold or silver becoming money and control it.
Because gold or silver are more stable values than bitcoin or other digital coins, the government will not taking risk with use digital currency on their countries, bitcoin and other coins are still new in the world.


Title: Re: Country's creating their own Crypto Currency
Post by: cengsuwuei on December 29, 2016, 04:33:57 PM
cyptco coin until now still anonymous
so is imposible govemernt can created to crypto coin
govement to regulate bitcoin is dificult


Title: Re: Country's creating their own Crypto Currency
Post by: carlisle1 on December 29, 2016, 05:18:53 PM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?

it could be possible that there are some Nations/Countries who did or just planning to make their own crypto-currency but I don't it will be that successful same as bitcoin and as if that they can make most people to migrate on that certain crypto-currency as most people really loves to support bitcoin . they can never be able to make a crypto which is very similar to bitcoin that has a lot of better feature than bitcoin .


Title: Re: Country's creating their own Crypto Currency
Post by: aardvark15 on December 29, 2016, 06:39:22 PM
There are some small countries that have tried to make their own cryptocurrency. I don't know if they were successful or not. I think I heard that either Greenland or Iceland tried it.


Title: Re: Country's creating their own Crypto Currency
Post by: Phinnaeus Gage on January 10, 2017, 06:53:06 PM
I think the interesting one is Royal Mint Gold
http://www.royalmint.com/aboutus/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold
It appears to be a recognition by the UK government that existing fiat currencies may have a limited life, and that gold backed currencies may be the future. Using "digital gold" allows them to continue with fractional reserve banking without the bad associations with fiat money. At the moment it is not peer-to-peer, but no doubt developments in the future will rectify this.

I think this is such and interesting development that I registered English.Gold to build a site to discover what is going on. It's a bit early, so I have not found out much so far.

royal mint -> CME group -> hyperledger

im still shocked people are not hating on hyperledger as being the competitor to bitcoin.

is it simply that due to blind devotion of blockstream, that they cannot hate hyperledger because that means they have to finally fall on their own sword and hate blockstream too, knowing blockstreams involvement in hyperledger..

Listening to the podcast now - http://www.forbes.com/podcasts/unchained/#3a7d8e40389e - thanks to today's Forbes article What Is One Of The World's Largest Derivatives Exchanges Doing With Bitcoin? (http://www.forbes.com/sites/laurashin/2017/01/10/what-is-one-of-the-worlds-largest-derivatives-exchanges-doing-with-bitcoin/#1a78e3fd4162).


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on January 10, 2017, 07:00:34 PM
I think the interesting one is Royal Mint Gold
http://www.royalmint.com/aboutus/news/the-royal-mint-and-cme-group-to-launch-royal-mint-gold
It appears to be a recognition by the UK government that existing fiat currencies may have a limited life, and that gold backed currencies may be the future. Using "digital gold" allows them to continue with fractional reserve banking without the bad associations with fiat money. At the moment it is not peer-to-peer, but no doubt developments in the future will rectify this.

I think this is such and interesting development that I registered English.Gold to build a site to discover what is going on. It's a bit early, so I have not found out much so far.

royal mint -> CME group -> hyperledger

im still shocked people are not hating on hyperledger as being the competitor to bitcoin.

is it simply that due to blind devotion of blockstream, that they cannot hate hyperledger because that means they have to finally fall on their own sword and hate blockstream too, knowing blockstreams involvement in hyperledger..

Listening to the podcast now - http://www.forbes.com/podcasts/unchained/#3a7d8e40389e - thanks to today's Forbes article What Is One Of The World's Largest Derivatives Exchanges Doing With Bitcoin? (http://www.forbes.com/sites/laurashin/2017/01/10/what-is-one-of-the-worlds-largest-derivatives-exchanges-doing-with-bitcoin/#1a78e3fd4162).

CME was researching bitcoin in 2012-2014. but has now got more involved in their own sidechain of hyperledger
see CME in the premier members list
and cough cough blockstream in the general members list
https://www.hyperledger.org/about/members

yea CME has a bitcoin price "ticker" (price calculator) but are not themselves running an exchange/trading bitcoin publicly.
so dont expect CME to go balls-deep into bitcoin activity.
their pricing ticker is just a gimmick to raise their own awareness.

they are however going full on in hyperledger,

the CME sidechain will probably be a branch off of the main hyperledger (the IMF SDR ledger)

imagine hyperleger as a tree stump (like the banks IMF) that branch off for countries combined funding. then each countries branch, branches off again into individual banks and financial services.
where each branch is a separate chain, with supply pegged to its parent and distributed to child sidechains (banks/financial companies)

CME wants to be the UK's main price pegging, like the royal mint controls uk's currency and international exchange rate in the current outdated fiat currency.


Title: Re: Country's creating their own Crypto Currency
Post by: shield132 on January 10, 2017, 07:15:10 PM
As I know switzerland was creating their own swisscoin but don't know what is happening now. To my mind it's absolutely not need to have every country their own cryptocurrency because it means it will be manipulated by goverment and now isn't time to be moved on virtual cryptocurrencies. And as I know countries aren't going to creat their own cryptocurrencies, I haven't heard any news.


Title: Re: Country's creating their own Crypto Currency
Post by: asuryan180 on January 10, 2017, 09:07:01 PM
As I know switzerland was creating their own swisscoin but don't know what is happening now. To my mind it's absolutely not need to have every country their own cryptocurrency because it means it will be manipulated by goverment and now isn't time to be moved on virtual cryptocurrencies. And as I know countries aren't going to creat their own cryptocurrencies, I haven't heard any news.
The thing with that thing where countries create their own cryptos is that actually they are putting restrictions on those cryptos and that changes the whole concept of them.For example there may be made regualations about how they should be used and even taxes may be set up and that's what I really think is the reason that it is better for a crypto like BTC to be accepted and then we would really reap the benefits of the cryptos


Title: Re: Country's creating their own Crypto Currency
Post by: Tanic on January 10, 2017, 09:12:16 PM
I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.


Title: Re: Country's creating their own Crypto Currency
Post by: asuryan180 on January 10, 2017, 09:41:43 PM
I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.
Actually there are chances but as I stated earlier,it's not done correctly and the whole concept is going to the rubbish from there,because the cryptos aren't regulated and the countries want to take the concept from cash and put it in cryptos which isn't correct


Title: Re: Country's creating their own Crypto Currency
Post by: Colt22 on January 10, 2017, 09:47:58 PM
There are some small countries that have tried to make their own cryptocurrency. I don't know if they were successful or not. I think I heard that either Greenland or Iceland tried it.
These were the attempts of the people of these countries and the states do not have tried to start their own crypto currencies as they do not allow the use of crypto currency for their state affairs because their transactions are anonymous and it will be hard for them to control.


Title: Re: Country's creating their own Crypto Currency
Post by: franky1 on January 10, 2017, 10:16:40 PM
I think this project hasn't chances for success to a county makes it's own crypto currency. Many crypto currencies were created after bitcoin with wish to repeat it's success. But many of such projects are already faild. And I think the same future waits those "own" crypto.

other alts failed because they have no utility. no merchant use and no niche market. even worse they are not available en-masse to the popular exchanges..

however hyperledger will be available to the fiat exchanges, because nasdaq, LSE will all be using a sidechain. and all sidechains of hyper ledger pegged to the IMF (root of the tree) and all the fiat 2.0 currency sidechains, commodity sidechains, business share sidechains will be the child branches of the exchange sidechain.

things like minimum wage laws and stock/commodity regulations will make them utilised by the banks/financial institutions using the hyperledger.

so dont treat hyperledger as just an altcoin. treat it as the FIAT threat that bitcoin was/has been against for the last 8 years


Title: Re: Country's creating their own Crypto Currency
Post by: BitcoinPC on January 13, 2017, 04:16:36 AM
Yes, recently, i saw Pak coin, it is also cryto currency of Pakistan, it is national crypto currency. But as you know, lack of information of all crypto currencies, So that's why only a few persons use it. So any country can create their own crypto currency, in this creating no problem, Problem is that, people can't trust on the time, and also have no awareness about their nation crypto currency, because everyone like to use world wild crypto currency, like bitcoin.   


Title: Re: Country's creating their own Crypto Currency
Post by: Vaskiy on January 13, 2017, 05:18:54 AM
Several countries have initiated groups that 've been into research to initiate their own Blockchain technology. To my knowledge no country has planned of generating coins with features similar to bitcoin. Most have been in plans to create digital fiat based upon bitcoin's technology.


Title: Re: Country's creating their own Crypto Currency
Post by: LeGaulois on January 13, 2017, 09:57:00 AM
No sane person can deny the many benefits of cryptocurrency compared to fiat, and certainly the government can’t deny them, either.
Cryptocurrencies can provide the same benefits as private companies’ electronic payment offers, with even less drawbacks...


Title: Re: Country's creating their own Crypto Currency
Post by: staceyoh on January 13, 2017, 10:23:28 AM
I think there are some countries
creating their own cryptocurrency
because they know that many people
are using this.


Title: Re: Country's creating their own Crypto Currency
Post by: Reid on January 13, 2017, 11:11:34 AM
I dont think they can implement it yet even if it will be successful. But that is a good question. I want to know some answers too. Not all can be known by just google right? Sometimes google is also hiding some things.


Title: Re: Country's creating their own Crypto Currency
Post by: care2yak on January 13, 2017, 01:19:03 PM
I don't think the Philippines' e-peso is considered a crypto but it is being marketed like one with the goal being the "single electronic payment platform for all transactions in the country"..."Our E-Peso solution aims to address the problems associated with a cash-heavy society and shift the Philippines’ financial infrastructure to a sustainable one, promoting efficiency in financial transactions, transparency, and accountability in government finances and operations, as well as advancement in the financial inclusion landscape."  (http://e-peso.ph/about/)

Filipinos are tired of government officials' corrupt practices and so the e-peso is designed and will be used as a tool to curb corruption... "As part of the Philippine government's commitment under the Better Than Cash (BTC) alliance and to ensure transparency and efficiency in the use of public funds," (https://www.usaid.gov/philippines/partnership-growth-pfg/e-peso-activity)

I also read at coindesk that Mexico has Peso Digital as their blockchain-backed project (http://www.coindesk.com/philippines-government-consider-bitcoin-e-peso/)

There isn't news yet that can tell whether these projects failed or not -- maybe because they haven't started it yet or are still in the testing stage. One thing is for sure though, all government crypto projects will aim for traceability and control so they can watch your every expenditure and seize what they deem ought to be seized -- something that we involved in cryptos advocating pseudonymity will not support.


Title: Re: Country's creating their own Crypto Currency
Post by: alphablitzer on January 17, 2017, 06:56:10 PM
I think it's possible that some head of the countries are planning to do something like this. It's really amazing that some people have tried and I guess failed because of the lack of originality I guess? But it's okay to copy it because it's open-source. It's just that, some things are already established and I hope they just apply it.


Title: Re: Country's creating their own Crypto Currency
Post by: charmingfreddie on January 17, 2017, 08:25:58 PM
These countries all lack the most important thing which is decentralization. Other than that its just digital fiat to replace failing paper fiat. It will help bitcoin by educating people about cryptocurrency.


Title: Re: Country's creating their own Crypto Currency
Post by: gembitz on April 01, 2017, 04:45:43 PM
^Antarctica needs an epic airdrop! :-D


Title: Re: Country's creating their own Crypto Currency
Post by: ekoice on April 02, 2017, 08:46:55 AM
Are there any Nations working on their own Crypto Currency to rival Bitcoin and possibly replace paper and metal money? If not, do you think any nations will attempt to do so to have more control over their citizens money?
I think E-Dinar is of such kind and it belongs to UAE if im right.African countries like Tunisia,Senegal,Benin and Togo have also joined the list of countries which have their own crypto currency.


Title: Re: Country's creating their own Crypto Currency
Post by: gembitz on April 07, 2017, 03:30:37 AM
Syria is going to be using TrumpCoin? ;-D lol

===>

https://c-cex.com/?p=trump-btc


Title: Re: Country's creating their own Crypto Currency
Post by: 7788bitcoin on April 07, 2017, 05:56:51 AM
There is no point for Country to create their own crypto currency (digital ledgers) as they are already working with Bank. How will they hide they "secret activity" if everyone has assess to a digital ledger freely? Yes they can manipulate the "centralised" network, but then this will be very obvious proof showing they are trying to hide something- they will then work even harder try to cover these...

No, banks work for them and they are fine.