Discussions about digital currencies in some countries. What future for bitcoin?

[n2004al]

There are rumors that Russia are thinking to create its digital bitruble:

According to: http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016:

"The Bank of Russia has begun studies of Bitcoin’s blockchain technology for potential future use. This has led to rumors that Russia has decided to begin work on a new national digital currency, the BitRuble, that will be managed and overseen by the state central banking system, according to late evening reports out of El Mundo in Spain."

Everyone which understand Spanish can find the article in which is based the above here: http://www.elmundo.es/economia/2015/09/17/55fb0200268e3e8c708b456e.html

Not only Russia but even United States are thinking the same thing. According to this article: https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

"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."

In this article is even this phrase:

"Keep in mind that only preliminary discussions have been made, and nothing has been finalized. These discussions have taken place with privately-owned Federal Reserve, and other countries may also be potential suitors for this new digitized fiat currency system. The Bank of England may also be very interested in this endeavor, as they lauded the Bitcoin Blockchain in a September 2014 report. The BOE described the blockchain's open ledger as a "significant innovation" that could transform the financial system."

So even England is thinking about the creation of its digital currency.

Are there coins (if created) a risk for bitcoin? Can compete bitcoin with these coins which will be supported by the most important Authorities of every country? Bitcoin have no protectors except their lovers which have not any power except their will to produce, to spread and to use it worldwide. Are them so strong to compete with the Authorities of the above (maybe every) countries (country)?

Bitcoin is ignored by most of the countries and regulated only in few of those. See here for more info about this: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

As a conclusion: Will survive bitcoin if everything above will became true? It will be possible that every country have its national digital coin? Which are your arguments in which is based your answer?

[1715329124]

1715329124

[Hellacopter]

I think it's not so easy for each country to create and popularize their own digital currency , it need many factors and consume a large periods of time, and even can't get international success like Bitcoin.
Bitcoin is universal currency used -almost- everywhere in the whole world, and its growing up daily nowdays, so i don't think that's can affect the Bitcoin's future

[Betwrong]

There are rumors that Russia are thinking to create its digital bitruble:

According to: http://cointelegraph.com/news/115302/russia-to-create-bitruble-a-state-run-digital-currency-for-2016:

"The Bank of Russia has begun studies of Bitcoin’s blockchain technology for potential future use. This has led to rumors that Russia has decided to begin work on a new national digital currency, the BitRuble, that will be managed and overseen by the state central banking system, according to late evening reports out of El Mundo in Spain."

Everyone which understand Spanish can find the article in which is based the above here: http://www.elmundo.es/economia/2015/09/17/55fb0200268e3e8c708b456e.html

Not only Russia but even United States are thinking the same thing. According to this article: https://www.cryptocoinsnews.com/ibm-federal-reserve-want-create-bitcoin-knock-off/

"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."

In this article is even this phrase:

"Keep in mind that only preliminary discussions have been made, and nothing has been finalized. These discussions have taken place with privately-owned Federal Reserve, and other countries may also be potential suitors for this new digitized fiat currency system. The Bank of England may also be very interested in this endeavor, as they lauded the Bitcoin Blockchain in a September 2014 report. The BOE described the blockchain's open ledger as a "significant innovation" that could transform the financial system."

So even England is thinking about the creation of its digital currency.

Are there coins (if created) a risk for bitcoin? Can compete bitcoin with these coins which will be supported by the most important Authorities of every country? Bitcoin have no protectors except their lovers which have not any power except their will to produce, to spread and to use it worldwide. Are them so strong to compete with the Authorities of the above (maybe every) countries (country)?

Bitcoin is ignored by most of the countries and regulated only in few of those. See here for more info about this: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

As a conclusion: Will survive bitcoin if everything above will became true? It will be possible that every country have its national digital coin? Which are your arguments in which is based your answer?

I think if some countries will create their own cryptocurrency this will be good for Bitcoin. BTC is the most established and trusted cryptocurrency in the world, the main negative attribute of which is the lack of information among the world's population. The emergence of the new cryptocurrencies, especially of those made on the Government's level, will inevitably draw more attention to BTC and this a good thing.

[teddy5145]

I don't get it why other countries is trying to make their own cryptocurrency
Bitcoin is universal and accepted everywhere unlike fiat which you need to change to other currency in order to use it on other country )
Leave crypto currency alone,we already have hundreds of crypto currencies 

[n2004al]

I don't get it why other countries is trying to make their own cryptocurrency
Bitcoin is universal and accepted everywhere unlike fiat which you need to change to other currency in order to use it on other country )
Leave crypto currency alone,we already have hundreds of crypto currencies  

Thanks for your comment.

For the same reasons the bitcoiners love bitcoin. For its qualities. An economy based on a digital currency will (may) be different from actual economies. It will be an experiment, but the hopes are for better. Otherwise no one of the above Authorities will care about those.

[Pab]

 
 I think first countrys with his national cryptocurrencys can be Scotland,if thay will separate from Great Britaign,it can happen,it was even featured in his press,that Scotland needs his own crypto
Next  one can be Catalunia,but i think it is good idea to have own bitnational crypto
easy and cheap for financial transactions

[Mickeyb]

Well the way they got going, in 10 years we will have over 100 national and bankster cryptocurrencies. Quite unbelievable. And then they say that Bitcoin is not innovative!

I guess that this is their way of fighting Bitcoin. They cannot dismiss it completely, so they will try and create some semi solutions that are pretty much doomed from the beginning, since they are completely centralized.

Furthermore, these national cryptos are going to give governments even more control over people's money!

[Bifta]

I think they are trying to make their own national digital currency and make it seem just like bitcoin, except it isn't since it will be centralized and controlled by the government. This is entirely pointless, but I think the whole idea is for the image, to make it seem like the government is up with tech and new ideas, when they really aren't.

[doublemore]

I don't get it why other countries is trying to make their own cryptocurrency
Bitcoin is universal and accepted everywhere unlike fiat which you need to change to other currency in order to use it on other country )
Leave crypto currency alone,we already have hundreds of crypto currencies 

Same reason why people try to make their own alt coin.  They want more control over the situation than the bitcoin would give them i guess.

[gentlemand]

Rephrase this to 'digital tokens' because that's what they'll be.

Bitcoin is fundamentally different from any currency any country or bank (not that a retail bank has created a standalone currency, er, EVER, not that that stops people on here spouting off about such possibilities) will ever create.

There will never, ever, ever be anything like Bitcoin that comes from the regular suspects. It goes against every single thing that turns them on. A lot of folks here really don't seem capable of comprehending this.

[teddy5145]

I don't get it why other countries is trying to make their own cryptocurrency
Bitcoin is universal and accepted everywhere unlike fiat which you need to change to other currency in order to use it on other country )
Leave crypto currency alone,we already have hundreds of crypto currencies 

Same reason why people try to make their own alt coin.  They want more control over the situation than the bitcoin would give them i guess.

Are you trying to say that the government trying to make their own crypto currency so they can have more control of us?
Then there's no way they will be big as bitcoin does
One of the reason why some people choose bitcoin compared to fiat is because Bitcoin is completely anonymous and decentralized
Just my 2 cents

[Hellacopter]

Cryptocurrency created by government is bullshit, it'll be centralized & not anonymous, people can't see it's blockchain or mine it
They can't control bitcoin, so they trying to make something similar & better to compete against bitcoin

Bitcoin is accepted everywhere, but government's fiat & cryptocurrency aren't
I'm sure government's cryptocurrency will fail

This is true, the governments try to make some centralized cryptocurrency to control it and don't allow people to see the transaction details and so on, Bitcoin system don't allow them doing this, so they try to replace it with their own cryptocurrencies, but i also think this projects will fail because people love bitcoin as it's decentralized currency and offer the financial freedom for everyone

[coinplus]

Cryptocurrency created by government is bullshit, it'll be centralized & not anonymous, people can't see it's blockchain or mine it
They can't control bitcoin, so they trying to make something similar & better to compete against bitcoin

Bitcoin is accepted everywhere, but government's fiat & cryptocurrency aren't
I'm sure government's cryptocurrency will fail

This is true, the governments try to make some centralized cryptocurrency to control it and don't allow people to see the transaction details and so on, Bitcoin system don't allow them doing this, so they try to replace it with their own cryptocurrencies, but i also think this projects will fail because people love bitcoin as it's decentralized currency and offer the financial freedom for everyone

If a government  make a new crypto-currency that would fail like how cloned alt coins have failed. Other than digitizing, no ther than meaning for a country specific crypto-currency. Bitcoin is like gold will act as a medium across fiats as well as if there is any government's new crypto-currency.

[avatar_kiyoshi]

Let them create their own cryptocurrency, it will be experiment for implement blockchain technology to governments i think it will not be effect to bitcoin, even if it's open in market.

[dhimasnk]

I think bitcoin will remain popular because bitcoin decentralized and are not bound by any country

[christycalhoun]

Governments creating their own digital currency is no different than printing fiat bullshit.

[RealBitcoin]

I think from my observations that the best innovation will come from either Netherlands or Spain, both countries got tons of active posts on the forum.

However in terms of users, I think more like: Indonesia, India and Russia.

[n2004al]

I think from my observations that the best innovation will come from either Netherlands or Spain, both countries got tons of active posts on the forum.

However in terms of users, I think more like: Indonesia, India and Russia.

Thanks for the intervention. Can you give thoughts about the future of bitcoin if some or every country adapt as a their currency a digital coin based currency?

[eyeknock]

Governments creating their own digital currency is no different than printing fiat bullshit.

yes, is something like "lets change the toy to play with and let's continue with our scam..." i hope that this time people change his mind and start to understand what are they trying to do, again...

[n2004al]

Governments creating their own digital currency is no different than printing fiat bullshit.

yes, is something like "lets change the toy to play with and let's continue with our scam..." i hope that this time people change his mind and start to understand what are they trying to do, again...

Thanks for your comment.

If the situation would be verified it will be not the people which will decide. There were be the Authorities of the country those who take and execute such kind of decision. And the people will be obligated to use this kind of currency because it will be the national currency in that country. The people will be paid in that currency, the merchants will use that currency etc. And if bitcoin will be banned their cannot use it more even if they will want to replace the national currency with the bitcoin.

What it will be with the future of bitcoin in such situation? What if something like that can be verified in every country or in the most of those? These are the questions that needed to be discussed.