What happens to Bitcoin if Central Banks start issuing their own cryptocurrency?

[pearlmen]

This is definitely what they would be considering in this era where the cost of printing money on its own is still expensive despite the several methods of e-money developments that have happened over the years. So any technology that would continue to push their cashless policy forward is welcome. However, the concern would be centred around the acceptance of it in the society since its going to be limited to respective countries.

[Rebellious]

Nothing will happen Bitcoin will show his strength.

[nkarm1]

There are so many consideration upon implementing the blockchain technology​ in a central bank. And for sure this cryptocurrencies won't be decentralized, and it would be implemented for their own good and not for the sake of their citizens. Also the central bank won't made a clone of bitcoin or any other alts for the reason of they will always need to follow traditional ways for legality purposes. In that case, I don't think consumers would be liking that thing. So bitcoin will always be their 1st choice, unless they totally forced their citizens to use the central bank issued coin.

[Hotel_Prodeo]

Of course this is the thing I really look forward to, if the central bank start using cryptcocurrency it will make the coin very popular and easy to use by anyone including from other countries.

[Irvinn]

The digital currency of a particular country will play a certain role mainly within a particular state, which issued this crypto currency. Great value such crypto currency will not have. They in no case can really compete with bitcoin or even other well-known decentralized altcoyins.

[dansmith_99]

Decentralized will always beat centralized. Bitcoin and other cryptos will continue to thrive even if banks start to issue their own.

[Crypto1992]

Easy answer : This Alt coin will be a copy of fiat currencies under full government control. Instead of money being printed from thin air, supply in this Alt coin will be managed by central banks. < They can change the supply at will, without ever having to have any type of consensus from the citizens >

Once these Alt coins are in place, pressure will be placed on Bitcoin users to stop using it. < strict regulations and laws >

Governments < let's say most > are chosen by their voters, so if you allow this to happen, you are part of the problem. Vote for a government that supports Bitcoin.

Yes I support this statement vote for government that supports bitcoin but which government do you think will support a decentralize cryptocurrency called bitcoin as they dont get tax if they support it.

[Telegraphcoin]

I don’t think this will affect Bitcoin in any way. People like Bitcoin because it’s separate from “Big Brother” and I don’t think there will be so much enthusiasm for a crypto project from the major banks.

[azhar700]

if talking about a bank, it would have something to do with the government. then what does a government want? would want it all controlled by it. if any bank in a country makes altcoin, I think it's very clear the purpose is to be in control in a centralized environment and I do not think it can be public. and I do not think it will affect bitcoin, bitcoin is public and financially free.

[pat4cryptoreal]

I believe that if central bank start issuing their own cryptocurrency there will be a very strict regulatory measure attach to the supply and circulation of such cryptocurrency.

[penig]

I don't see why a central bank would issue a public cryptocurrency.  Central banks don't interface with the public, only other financial institutions.  The primary purpose of cryptocurrency is to remove need for trust between the parties involved, and banks have to implicitly trust the central bank and to some extent each other.  This is the area for central bank to offer a cryptocurrency, to use a secured searchable blockchain to know who holds and owes what, and to whom. 

[helars2008]

Digital currency has already been existing for years with banks being the prime mover.  They are only different with bitcoin because they are centralized and not distributed.  And even with this already online bitcoin wont still be affected because there are features bitcoins have that banks wouldnt even dream of creating.