A country would have to be a damn fool to start a national cryptocurrency.

[Mickeyb]

OP you are wrong about this possible national cryptocurrency being open (decentralized). Whoever tries to make their own cryptocurrency, banks, governments, states, they will make it completely closed and centralized.

By being centralized, attacks as you suggested will be limited and quite impossible. Also nothing easier than today's attacks on Pentagon for example.

 
 
As I stated, when they do so then they don't have a cryptocurrency: they have a shared spreadsheet.  It will be useless and valueless on the open market. 
 
It's like the difference between a company's intranet and the open internet. 

Some people would argue that today's dollars are pretty much useless as well, with all the printing and with more than $18 trillions of the American debt and also without anything backing it up (gold standard was dropped long time ago).

Yet again American dollars still have and hold their value. Something tells me that this centralized crypto money would behave in the same way.

American dollars still hold their value, because we force other countries to accept it...

Yes, exactly. And that's what I am arguing. If the US government has been successful in making their dollar still relevant while in whole honesty and by all economic principles dollar is actually a complete failure, I am sure they would be able to do the same for the possible centralized national cryptocurrency.

[ashour]

I don't think that it is a foolish move of a country to use their own cryptocurrency instead of bitcoin. Governments need to be able to control the supply of the cryptocurrency in order the economy to function, with bitcoin you can't control it's supply since it is decentralized.

[chennan]

I don't think that it is a foolish move of a country to use their own cryptocurrency instead of bitcoin. Governments need to be able to control the supply of the cryptocurrency in order the economy to function, with bitcoin you can't control it's supply since it is decentralized.

Governments shouldn't have any say so with how much currency they will produce at all... if the fiat notes were still used under the gold standered, I would have no problem with using fiat because it represents a finite thing that represents value... Printing more notes without representation of anything of value behind it, other than the "trust" the American people have behind it, just creates inflation and interest increases which essentially makes all of us in the U.S. Slaves to the Feds dollar.

[christycalhoun]

Bank and government will adapt blockchain as solution to running economic with low maintenance cost
Even they introduce their cryptocurrency, normal people cannot see it's blockchain, mine or run full nodes. They'll force everyone use centralized wallet.

So, i think bank or government cryprocurrency will be worse than the most stupid altcoin

 
  
Isn't that a funny truism?  
  
Even Dogecoin would be orders of magnitude better than the *best* implementation of any JP Morgan Coin or bitRuble.

They are better by design but govenments have guys with guns to enforce what ever currency they want us to use.

[Pab]

 With Russia crypto rubel is not that it will replace his national currency.Talk is about Russia to has his own crypto,Russian search engine is interested in,thay already has his own virtual yandex money and some russians social network also is advocating that idea,I dont think it will happen,Russia wants to has his citzens under control,p2p money not so much welcomed

[Kakmakr]

In a way, I will agree that national Crypto currencies, should not be done, but for a different reason. The whole world have shifted to a global market, where countries compete against each other for the best prices. A single global currency would make this a more fair contest.

The fiat currencies are being manipulated to give some nations a unfair advantage in these markets. If they created their own national currencies, and it's programmable money based on the fiat system, this manipulation will continue.

[Betwrong]

I hear rumors that Russia is considering starting their own national cryptocurrency.  As well, many believe that if the US or any other major power ever "adopted" cryptocurrency they would just start their own blockchain. 
 
Foolishness. 
 
Do you know what that would be inviting?  Total economic and digital war.  If the entire value of the U.S. Dollar is on an open blockchain that anyone can mine and attack, you better believe that rogue/rival nations will do everything they can to try to damage our blockchain.  And wouldn't we be forced to levy the same attacks & threats vs. them? 
 
You know who doesn't have to worry about this nonsense?  A blockchain of value that represents the entire human race and not just one entity.  A true global currency.  Bitcoin, Monero, and other truly neutral and worldwide projects don't fly a flag.  They stand for all of us.  Just look at some of the full nodes running in these projects: there are nodes in China, the US, Russia, India, and many more. 
 
A cryptocurrency flying a national banner is about as useful as an internet flying a national banner (ahem, North Korea).  I can see how there might be secure blockchains for internal Department of Defense usage and Apple Inc usage (just like intranets) but no country is going to back their currency with a proprietary blockchain that paints a big fat target on their ass.  If they did, they would just centralize it... and that's not really a blockchain, is it?  That's just a shared, private database. 
 
So let's end this argument once and for all.  It's either the world wide ledgers or nothing; there won't be national flavors.
 

I agree. I mean if you are making something which is good (and cryptocurrency is a good thing in general), make it for the whole world not just for your country WTF... I hope those times when "Nation fight against nation" will be drowned in the past forever. An end must be put to things like this. So why start such an outdated hideosity now?

[countryfree]

Yes, it would probably be foolish, but it happens that countries are run by fools. A national cryptocurrency would give them a sense of control, a feeling of power, politicians would love it.

Now, let me tell you a secret. The US dollar is a national cryptocurrency. There's only one miner behind it, and he's a cool guy (I think he's stoned). He doesn't even bother keeping track of transactions. That crypto is actually printed. The choice to print it was made at an early stage to gain wide acceptance among uneducated people, but it's gonna turn full crypto real soon. Just look at the current war against cash. All $ transactions will soon be electronic, with all users registered in national databases. Then the real proof that the $ is a crypto is that its value isn't backed by anything.

[Poppy]

I hear rumors that Russia is considering starting their own national cryptocurrency.  As well, many believe that if the US or any other major power ever "adopted" cryptocurrency they would just start their own blockchain. 
 
Foolishness. 
 
Do you know what that would be inviting?  Total economic and digital war.  If the entire value of the U.S. Dollar is on an open blockchain that anyone can mine and attack, you better believe that rogue/rival nations will do everything they can to try to damage our blockchain.  And wouldn't we be forced to levy the same attacks & threats vs. them? 
 
You know who doesn't have to worry about this nonsense?  A blockchain of value that represents the entire human race and not just one entity.  A true global currency.  Bitcoin, Monero, and other truly neutral and worldwide projects don't fly a flag.  They stand for all of us.  Just look at some of the full nodes running in these projects: there are nodes in China, the US, Russia, India, and many more. 
 
A cryptocurrency flying a national banner is about as useful as an internet flying a national banner (ahem, North Korea).  I can see how there might be secure blockchains for internal Department of Defense usage and Apple Inc usage (just like intranets) but no country is going to back their currency with a proprietary blockchain that paints a big fat target on their ass.  If they did, they would just centralize it... and that's not really a blockchain, is it?  That's just a shared, private database. 
 
So let's end this argument once and for all.  It's either the world wide ledgers or nothing; there won't be national flavors.
 

A government starting a national cryptocurrency is not actually a damn fool.  This government can then be able to regulate the supply of cryptocurrency and can impose rules and regulations on its use.

[n2004al]

I hear rumors that Russia is considering starting their own national cryptocurrency.  As well, many believe that if the US or any other major power ever "adopted" cryptocurrency they would just start their own blockchain. 
 
Foolishness. 
 

Read this article: https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

According to the words written directly under the title (which talk itself):

"It was only a matter of time. The ultra-advanced, superior technology of the digital currency Bitcoin and it's Blockchain public ledger system are in danger of being co-opted. The tacit compliments of the financial establishment for the Bitcoin Blockchain, not Bitcoin the currency, over the past year are starting to be followed with action. IBM, in conjunction with your centralized banking elite, have discussed plans to perpetuate the future of national currencies, like the U.S. Dollar, through their own digital fiat-currency system."

Must be foolish the firstly the FED. But even IBM too which are taken in consideration such thing and talk about those. 

[avatar_kiyoshi]

Well recently there are many company/even a gov institution which look at blockhain technology, i think it's not really foolish. they can use blockchain technology which have bring the future of money is better.

Russian gov is already interested with cryptocurrency although in the past they ban to use on their country.

[Q7]

I don't think at this point, they will agree to the idea, adopt it or even make it possible. When you have an open ledger and that means every country is using the same ledger, there is no way anyone can meddle or change how they control currency. When you can't print, and that is where it fails which is what they would want to avoid at all cost.

[mordekaiser]

I hear rumors that Russia is considering starting their own national cryptocurrency.  As well, many believe that if the US or any other major power ever "adopted" cryptocurrency they would just start their own blockchain. 
 
Foolishness. 
 
Do you know what that would be inviting?  Total economic and digital war.  If the entire value of the U.S. Dollar is on an open blockchain that anyone can mine and attack, you better believe that rogue/rival nations will do everything they can to try to damage our blockchain.  And wouldn't we be forced to levy the same attacks & threats vs. them? 
 
You know who doesn't have to worry about this nonsense?  A blockchain of value that represents the entire human race and not just one entity.  A true global currency.  Bitcoin, Monero, and other truly neutral and worldwide projects don't fly a flag.  They stand for all of us.  Just look at some of the full nodes running in these projects: there are nodes in China, the US, Russia, India, and many more. 
 
A cryptocurrency flying a national banner is about as useful as an internet flying a national banner (ahem, North Korea).  I can see how there might be secure blockchains for internal Department of Defense usage and Apple Inc usage (just like intranets) but no country is going to back their currency with a proprietary blockchain that paints a big fat target on their ass.  If they did, they would just centralize it... and that's not really a blockchain, is it?  That's just a shared, private database. 
 
So let's end this argument once and for all.  It's either the world wide ledgers or nothing; there won't be national flavors.
 

Some under developed countries are not accepting this kind of currency I don't think there is something wrong with that we just  have to respect them.