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Author Topic: Should countries accept coins at governmental level?  (Read 251 times)
kalel18
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January 23, 2019, 11:12:01 AM
 #21

it is very difficult to explain but not all countries are like Malaysia. the country's currency is heavily affected if they use another coin and especially when the government does not allow it. Some our countries is not the same policy and acredited maybe they more recognized crypto which can help thier countrymen to get up from life.
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January 23, 2019, 11:35:28 AM
 #22

Actually there are many obstacles for our government to accept the system of two digital currencies and fiat currencies, of course it is against a country, even though the big countries have implemented it a lot, it does not mean that small countries in Asia landmarks can implement the system and with a standard which is likely to complicate the government with the pressure from banking, and they also know that bitcoin will turn them off in terms of the advantages of bitcoin superior, rather than banking ...

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January 23, 2019, 06:21:26 PM
 #23

I am not sure whether any government will accept bitcoin, but with future development it has the potential to use bitcoin as a bond if tokens can be generated in the future in the bitcoin protocol, it is not an easy solution to have those development under one wing and there will be many obstacles in implementing those, but in future we can expect things like that, i never thought we will have an economic system like this ten years back, so anything is possible in the future.
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January 24, 2019, 04:29:36 AM
 #24

I do not think it is necessary for authorities to be involved  else cryptocurrency will end up being controlled and centralized. Institutions have no business running money. The blockchain is doing this already... Nobody cares if they choose to Regulate the Merchants. Money should exist without interference.
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January 24, 2019, 05:26:28 AM
 #25

How do you think should countries link Bitcoin and other currencies to their major industries?
And how will it affect its rate?

I've heard that Malaysia started to do that already. Is it bad or good step?
As far as I understand, Bitcoin and another decentralized cryptocurrency cannot be tied to any sector of the economy of a particular state. There are many reasons for this and one of the main reasons is the high price volatility of cryptocurrency. Decentralized cryptocurrency exists by itself, it can not be associated with the economy of the state.
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January 24, 2019, 03:54:12 PM
 #26

Indonesia,Malaysia both of those countries good started i think. I consider also india as a very prosperous future big crypto industry. But many obstacles have already come from governments and bank. Bank ignored to accept cryptocurrency.
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January 24, 2019, 04:45:39 PM
 #27

I already heard about some countries creating their own cryptocurrencies in the past, trying to convince their people to use them instead using the decentralized currencies, but they failed because most people still having faith only in the decentralized cryptocurrencies like Bitcoin and Ethereum.
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January 24, 2019, 06:17:06 PM
 #28

I already heard about some countries creating their own cryptocurrencies in the past, trying to convince their people to use them instead using the decentralized currencies, but they failed because most people still having faith only in the decentralized cryptocurrencies like Bitcoin and Ethereum.
I would hardly call Ethereum "Decentralised".
re: "Can you guys stop trading?"
re: DAO
re: Difficulty Bombs postponed.
re: Mining Reward Adjustment

This would be impossible on a truly decentralised currency.


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Warkop
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January 25, 2019, 12:32:22 AM
 #29

In my opinion if the government combines their official currency with Bitcoin, that would be very bad for Bitcoin, because in the government there are many greedy people and there will be a lot of corruption within the country itself, not only that, maybe the government will make new regulations about the existence of Bitcoin and all Bitcoin users will definitely be taxed and their new regulatory rules.

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January 25, 2019, 01:20:35 AM
 #30

i think government will not accept crypto until there rules are fulfilled like tax , and transactions which should be in there control until this done govt will not accept crypto
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January 25, 2019, 01:57:03 AM
 #31

Accepting a crypto that wouldn't control?
Forget it.
It would be easier (for a country) to issue an own controlled crypto, as Venezuela did with Pedro.
Do not forget, that National Banks (who issue currency) are private institutions.
Do you get the point ?  Wink

In Venezuela the Central Bank issues money, this is a State owned institution. It absolutely obeys the executive, including the absurd; which is why they are issuing all the money they want without any restrain and for that reason its currently the world's worst fiat, already passing one million percent yearly inflation.

The main problem with Petro is they are treating it the same way. It was pointless to make a digital currency and make the same mistakes they do to fiat. The problem is within their minds, complete disregard of economy principles, pretending they can fix anything by decree.

And this experience has let me believe that the only good currency is one where the government has zero control, such as bitcoin. And like i said before, there are countries that no longer have a national fiat, and are using the money from a third country, so its not like there aren't any governments out there that have zero control of the currency already...

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