Future of cryptocurrency

[ChiPh]

Many cryptocurrencies are currently being developed like bitcoin, dogecoin, dashcoin , litecoin etc. Just like now we have different paper currencies for different countries. It is possible that in the future each country will decide or develop its own cryptocurrency?.  What do you think about this? Please share your views.

[aizzaku]

Many cryptocurrencies are currently being developed like bitcoin, dogecoin, dashcoin , litecoin etc. Just like now we have different paper currencies for different countries. It is possible that in the future each country will decide or develop its own cryptocurrency?.  What do you think about this? Please share your views.

I think the idea behind these crypto currencies is the decentralization and anonymity of the individual right. Said this.. due to the technology like blockchain countries might come up with something of this sort but along with them other ones community made will always strive .

[ChiPh]

Many cryptocurrencies are currently being developed like bitcoin, dogecoin, dashcoin , litecoin etc. Just like now we have different paper currencies for different countries. It is possible that in the future each country will decide or develop its own cryptocurrency?.  What do you think about this? Please share your views.

I think the idea behind these crypto currencies is the decentralization and anonymity of the individual right. Said this.. due to the technology like blockchain countries might come up with something of this sort but along with them other ones community made will always strive .

It is most likely to happen because different countries will have different opinions, laws and government norms. Even though the of bitcoin invention is by Satoshi Nakamoto, I guess western countries will be ahead in this buisness.

[coldice]

I do think it would happen but the only difference will be Countries would keep an  eye on the address owner like coinbase does 
Any of the government provided facility does not gives you anonymity and it will never. And countries like USA and China will never give anonymity to their citizen. The same implies to India also, Gov will make several laws before allowing a user to use a gov run crypto currency.

[ChiPh]

I do think it would happen but the only difference will be Countries would keep an  eye on the address owner like coinbase does 
Any of the government provided facility does not gives you anonymity and it will never. And countries like USA and China will never give anonymity to their citizen. The same implies to India also, Gov will make several laws before allowing a user to use a gov run crypto currency.

Indian government will definitely make laws and there will be argument about it. Bitcoin system is working pretty well now and anonymity is one of the reason for its success. Many websites now accept donations in the form of bitcoins. If anonymity is lost, bitcoin users wont be happy.

[learncoin]

Many cryptocurrencies are currently being developed like bitcoin, dogecoin, dashcoin , litecoin etc. Just like now we have different paper currencies for different countries. It is possible that in the future each country will decide or develop its own cryptocurrency?.  What do you think about this? Please share your views.

Each country(eg https://en.wikipedia.org/wiki/Auroracoin), religion(for eg, https://bitcointalk.org/index.php?topic=986527.0) or other divisions creating their own coins will simply create more confusion among people. Cryptos are meant to be anonymous, and creating restrictions for who can use certain cryptos, will be fundamentally flawed.

Cryptos like bitcoin, dogecoin, dashcoin , litecoin are successful cause they does'nt have any T&C with them. So, I think each country developing their own crypto isn't a good idea.

[aizzaku]

I do think it would happen but the only difference will be Countries would keep an  eye on the address owner like coinbase does 
Any of the government provided facility does not gives you anonymity and it will never. And countries like USA and China will never give anonymity to their citizen. The same implies to India also, Gov will make several laws before allowing a user to use a gov run crypto currency.

Oh u are right, but govt wont be making anything similar to bitcoins. I am saying is that they will use the blockchain technology for their own purpose.

I had read a news recently that a Private Bank in Japan are releasing their own virtual currency. Now that is something very interesting.

[dashingriddler]

Government issuing a crypto currency may not be that hard but managing it would be lot harder. There are many questions that needs to answered regarding who would mine for transactions, management of inflation, fixed or variables priced, transaction fee (if not charged there would be lot of spam) etc. So such currencies can only be used for special purposes than for daily use of the common man.

[btvGainer]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

[aizzaku]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

Yes not everyone want to be anon everytime. I think along with anon it is the ease of use. Give the address, put in money and hit send. done !

[skang]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

I have answered your question in detail here: https://bitcointalk.org/index.php?topic=1171588.msg13933683#msg13933683

Don't know what is your intent behind asking this again & again.

[aizzaku]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

I have answered your question in detail here: https://bitcointalk.org/index.php?topic=1171588.msg13933683#msg13933683

Don't know what is your intent behind asking this again & again.

Skang. Very well explained there. Well i think this is the kind of thing more people should understand is what i meant by awareness.

[mynameisdon]

maybe,but i don't think so.because crypto currencies is already defined as universal currency. so what do you means by different crypto currencies for different country?
we use bitcoin and many other currencies for no getting exchange problem while Sending to others countries.

[skang]

maybe,but i don't think so.because crypto currencies is already defined as universal currency. so what do you means by different crypto currencies for different country?
we use bitcoin and many other currencies for no getting exchange problem while Sending to others countries.

Exactly.

It is impossible, given current science, to develop a pow blockchain that can be contained in a country.
You can do it with a special form of PoS but it will have a dishonest origin of money problem like all POS chains. Eg: PayTM type currency can be done.

Given our current knowledge it is impossible to tie a cryptocurrency to a dynamic geography.
Proof-of-location is a theoretical concept and measuring distance from the 14 nearest pulsars is not feasible at the moment.
Every other point-of-reference in the universe we know of is dynamic.

Theoretically, you cant even define a country's boundary because geography is changing all the time.
There is a reason why land is measured by patwaris w.r.t nearby geographical landmaps and not GPS coordinates!
Think about it - if we simply define everyone's land precisely as per coordinates, a technology that every smartphone has, there will be no land disputes right?
Awesome. Why don't we do it then?
Because land changes and thus we measure it relatively and not absolutely.

Also, any logic that justifies national cryptocurrencies would also justify state cryptocurrencies or even a village/town specific cryptocurrency. (dillicoin, rampurcoin, etc.)

The only counter argument that would not, is that the jurisdiction and people would want a common national cryptocurrency to allow for trading valuations.
But this stands against the very principal of design of cryptocurrencies wherein an individual could posses multiple national cryptocurrencies and be trading in them in this globalized world, being restricted only by exchange of physical goods (whereas digital goods incur no such restriction and thus renders the digital trader indistinguishable from the native of land).

[Pkzone]

Many cryptocurrencies are currently being developed like bitcoin, dogecoin, dashcoin , litecoin etc. Just like now we have different paper currencies for different countries. It is possible that in the future each country will decide or develop its own cryptocurrency?.  What do you think about this? Please share your views.

I think the idea behind these crypto currencies is the decentralization and anonymity of the individual right. Said this.. due to the technology like blockchain countries might come up with something of this sort but along with them other ones community made will always strive .

That's a yes but state-endorsed cryptocurrencies may be backed by gold or some other cryptocurrencies and the government

may seek for its monopoly and ban other cryptocurrencies

anyway, this isn't possible unless every citizen is stable enough to have a smartphone/minimal computer to hold the coins and network... Also the mining will probably be done by government, so as the demand grows the government will need to mine it and optimize it as well.

[Pkzone]

maybe,but i don't think so.because crypto currencies is already defined as universal currency. so what do you means by different crypto currencies for different country?
we use bitcoin and many other currencies for no getting exchange problem while Sending to others countries.

Exactly.

It is impossible, given current science, to develop a pow blockchain that can be contained in a country.
You can do it with a special form of PoS but it will have a dishonest origin of money problem like all POS chains. Eg: PayTM type currency can be done.

Given our current knowledge it is impossible to tie a cryptocurrency to a dynamic geography.
Proof-of-location is a theoretical concept and measuring distance from the 14 nearest pulsars is not feasible at the moment.
Every other point-of-reference in the universe we know of is dynamic.

Theoretically, you cant even define a country's boundary because geography is changing all the time.
There is a reason why land is measured by patwaris w.r.t nearby geographical landmaps and not GPS coordinates!
Think about it - if we simply define everyone's land precisely as per coordinates, a technology that every smartphone has, there will be no land disputes right?
Awesome. Why don't we do it then?
Because land changes and thus we measure it relatively and not absolutely.

Also, any logic that justifies national cryptocurrencies would also justify state cryptocurrencies or even a village/town specific cryptocurrency. (dillicoin, rampurcoin, etc.)

The only counter argument that would not, is that the jurisdiction and people would want a common national cryptocurrency to allow for trading valuations.
But this stands against the very principal of design of cryptocurrencies wherein an individual could posses multiple national cryptocurrencies and be trading in them in this globalized world, being restricted only by exchange of physical goods (whereas digital goods incur no such restriction and thus renders the digital trader indistinguishable from the native of land).

This is correct, however in part wrong,
You are forgetting that a cryptocurrency is a protocol and it works on a network of computers.
You can tie a walled-garden infrastructure like DPRK's own intranet which is national to a intranet-specific cryptocurrency.
If then, a intranet's cryptocurrency can be distinguished by any other cryptocurrency and it may work within a country's borders.
Mining protocols can be blocked by the state government so the government can only mine it as minting is done by traditional fiat.

THAT'S WHY I SAY, DO YOUR OWN RESEARCH BEFORE POSTING.

[Pkzone]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

PLEASE PLEASE, I beg you to stop calling Bitcoin a anonymous currency, it's a PSEUDONYMOUS currency AND anonymous and PSEUDONYMOUS has ITS own DIFFERENCES

No, wait btvGainer, why am I anonymous? I'm also a Indian...
I'm anonymous because of social threats, if I go against a specific authority, I may be humiliated, and what not?
If you read news, then you must know of death threats, rape threats, home rampage...
Then, will I want that?
No, I believe everyone has a freedom of speech and one must not be threated based on what he has said, if he has said something that is backed by facts, then he must not be threated.
Do you get it? Do you?

[Pkzone]

I do think it would happen but the only difference will be Countries would keep an  eye on the address owner like coinbase does 
Any of the government provided facility does not gives you anonymity and it will never. And countries like USA and China will never give anonymity to their citizen. The same implies to India also, Gov will make several laws before allowing a user to use a gov run crypto currency.

India allows me to have anonymity, at least, I'm thankful to the government that they haven't put such a shit law to destroy my rights, and be like China.

[Pkzone]

I do think it would happen but the only difference will be Countries would keep an  eye on the address owner like coinbase does 
Any of the government provided facility does not gives you anonymity and it will never. And countries like USA and China will never give anonymity to their citizen. The same implies to India also, Gov will make several laws before allowing a user to use a gov run crypto currency.

Indian government will definitely make laws and there will be argument about it. Bitcoin system is working pretty well now and anonymity is one of the reason for its success. Many websites now accept donations in the form of bitcoins. If anonymity is lost, bitcoin users wont be happy.

PLEASE PLEASE, I beg you to stop calling Bitcoin a anonymous currency, it's a PSEUDONYMOUS currency AND anonymous and PSEUDONYMOUS has ITS own DIFFERENCES

I will spam this every time anyone says Bitcoin is anonymous.

[btvGainer]

My question is why do people want to stay anonymous?Many people like bitcoin or other crypto because they give them anonymity during transaction but if one is not involved in any illegal,anti-social activity,why would one want to stay anonymous?

PLEASE PLEASE, I beg you to stop calling Bitcoin a anonymous currency, it's a PSEUDONYMOUS currency AND anonymous and PSEUDONYMOUS has ITS own DIFFERENCES

No, wait btvGainer, why am I anonymous? I'm also a Indian...
I'm anonymous because of social threats, if I go against a specific authority, I may be humiliated, and what not?
If you read news, then you must know of death threats, rape threats, home rampage...
Then, will I want that?
No, I believe everyone has a freedom of speech and one must not be threated based on what he has said, if he has said something that is backed by facts, then he must not be threated.
Do you get it? Do you?

Yes I do.If there is someone who doesn't get the point, it is you.I also support the freedom of speech and is against maltreating anyone for his views,ideas,beliefs,speech and actions but we dont need to be anonymous to exercise our right to speech,we need not be hide for expressing our thouthts etc