Why Governments Will Create Their Own Cryptocurrencies

[MightyStorm]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

[AGD]

This belongs in the Altcoin section.

[coinableS]

This belongs in the Altcoin section.

Haha yea except a centralized gov't coin is pointless. Why not just use excel or mysql? What's the point of using "blockchain technology" if you take out the decentralized nature of the world wide ledger that can be reviewed or audited by anyone? A centralized blockchain could go back in and change previous blocks relatively easily compared to real cryptocurrencies.

[MightyStorm]

This belongs in the Altcoin section.

Haha yea except a centralized gov't coin is pointless. Why not just use excel or mysql? What's the point of using "blockchain technology" if you take out the decentralized nature of the world wide ledger that can be reviewed or audited by anyone? A centralized blockchain could go back in and change previous blocks relatively easily compared to real cryptocurrencies.

Yes, they could, and not only that.

[louise123]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Well, if I was to guess I would say first would be either the U.S.A. or China.
Then comes Russia and probably Germany too follow.

[Buttknuckle]

You forgot India.

I never thought of this, but now that you mention it I would be surprised if the NSA didnt have an altcoin already with trojans implanted.  If I was in government I would definitely make an alt coin.  Talk about marketing!  Imagine a bitdollar!  It might even temporarily overtake the bitcoin. 

[louise123]

You forgot India.

I never thought of this, but now that you mention it I would be surprised if the NSA didnt have an altcoin already with trojans implanted.  If I was in government I would definitely make an alt coin.  Talk about marketing!  Imagine a bitdollar!  It might even temporarily overtake the bitcoin. 

Yeah, the talk about Bitcoin being an NSA project has been going on for a while now.
So, even if Bitcoin is not an NSA project, it either will become one, or they will create their own "Bitcoin".

[Troonetpt]

I doubt the government will create a Cryptocurrencies as bitocin, because Cryptocurrencies as bitocin can't be control by government.

[louise123]

I doubt the government will create a Cryptocurrencies as bitocin, because Cryptocurrencies as bitocin can't be control by government.

And I am guessing you didn't go through the trouble to read the OP, did you?
The OP clearly states that they could create their own centralized cryptocurrency.

[Kprawn]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Who says, they do not have control already? They can pull the switch today and we will be @#$#%ed!

Read this for more insight <----- http://www.thecommonsenseshow.com/2015/05/20/how-to-avoid-capture-if-you-are-on-the-jade-helm-red-list/

This is not science fiction anymore, it's a reality we have to accept. Owning BTC will make relocation a bit easier {No frozen bank accounts}

We life in scare times. 

[Amph]

I doubt the government will create a Cryptocurrencies as bitocin, because Cryptocurrencies as bitocin can't be control by government.

And I am guessing you didn't go through the trouble to read the OP, did you?
The OP clearly states that they could create their own centralized cryptocurrency.

which doesn't make sense, because they already have it, it's called fiat and the mining cost is also very low compared to a possible crypto mininting cost, unless they will do it pos and distribute it to citizens

at least they are moving away from fiat and introducing more the crypto wolrd, maybe it was this at which satoshi was aiming since the start, not making bitcoin big, but making cryptoworld big

[MightyStorm]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Well, if I was to guess I would say first would be either the U.S.A. or China.
Then comes Russia and probably Germany too follow.

I would put China first.

[umairsaleem]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Well, if I was to guess I would say first would be either the U.S.A. or China.
Then comes Russia and probably Germany too follow.

I would put China first.

Do you think CPC would create an army(currency) that they couldn't control? In the country where the CPC controls everything?

[louise123]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Well, if I was to guess I would say first would be either the U.S.A. or China.
Then comes Russia and probably Germany too follow.

I would put China first.

Do you think CPC would create an army(currency) that they couldn't control? In the country where the CPC controls everything?

I don't understand what you mean.
If they are going to make their own cryptocurrency it will be centralized.
So how will they be unable to control it?

[louise123]

I bet they will make the first centralized cryptocurrency in history
They will take over network & won't confirm our transaction if we don't put specific fee

Nope.
Someone else claimed that title....
It's called: Ripple 

Been around for years too...

[S4VV4S]

I bet they will make the first centralized cryptocurrency in history
They will take over network & won't confirm our transaction if we don't put specific fee

More like they will be able to control everyones finances.
Which is what they are after.

[Kyraishi]

I bet they will make the first centralized cryptocurrency in history
They will take over network & won't confirm our transaction if we don't put specific fee

More like they will be able to control everyones finances.
Which is what they are after.

Yeah, cryptocoins with a public ledger are more suitable for them rather than cash.
It is hard for them to trace cash.

[Slark]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Well, if I was to guess I would say first would be either the U.S.A. or China.
Then comes Russia and probably Germany too follow.

I would put China first.

Do you think CPC would create an army(currency) that they couldn't control? In the country where the CPC controls everything?

I don't understand what you mean.
If they are going to make their own cryptocurrency it will be centralized.
So how will they be unable to control it?

Government would be able to control it fully, there is no point in creating anything they can't fully manage. But there is a problem if they advertise their currency and then people realise that government is tinkering with 'virtual money'. That mean that currency will lose its credibility? Another question - will the government issued cryptocurrency be mandatory?

[WhatTheGox]

We seem to be on our way to cashless society.

An imaginary tyrant could use centralized crypto currency to reach fantastic (and scary) goals, total control over people being just one of them.

Many would argue what they would create wouldnt be a true crypto currency.  You can safely say no government would be capable of creating something they have no control over.  Thats like trying to not breathe for alive people.

[RodeoX]

Canada tried this. They held a contest called the "Mint Chip Challenge". They asked "What can you do with Mint Chip?". The number one answer was "Buy Bitcoins". So they canceled the contest and picked a runner up.

http://en.wikipedia.org/wiki/MintChip