Each country will have his own altcoin , how about bitcoin?

[trinaldao]

this week i read 2 news same news
1. Bank of Tokyo-Mitsubishi says testing its own digital currency ( source)
2. Canada Has Been Experimenting With A Digital Fiat Currency ( source)

so in future each country will have his own altcoin, what do you think about bitcoin ?
bitcoin still be 1st crypto currency ? or the new altcoin from biggest country will replace it ?

[Mvaporis1961]

this week i read 2 news same news
1. Bank of Tokyo-Mitsubishi says testing its own digital currency ( source)
2. Canada Has Been Experimenting With A Digital Fiat Currency ( source)

so in future each country will have his own altcoin, what do you think about bitcoin ?
bitcoin still be 1st crypto currency ? or the new altcoin from biggest country will replace it ?

I think it will be hard for other country to replace bitcoin because many people around the world are already using bitcoins for years.

[7788bitcoin]

These government back digital currencies will be completely centralized, and therefore different from the idea of bitcoin. Change in government itself will very likely resulting in the breakdown of the system and render them useless.

Bitcoin is decentralized and will not be affected by all these human/political changes.

[avikz]

I doubt all other countries will have their own digital currency because not every country is open to experiment specially when it comes to economy.

Bitcoin is the number one and it will remain number one because of its market capitalization. It is currency standing at 11 billion which is far greater than most of the countries' economy. It is not easy to downgrade from this level. TO decrease the market cap from this level, a mass movement is required and it is very very tough to organize because bitcoin users are spread across the world.

[Mvaporis1961]

I think it's hard for the country to replace bitcoin from being main cryptocurrency because of the volume users that will get financial loss if bitcoin replaced by other altcoins.

[Zaun]

this week i read 2 news same news
1. Bank of Tokyo-Mitsubishi says testing its own digital currency ( source)
2. Canada Has Been Experimenting With A Digital Fiat Currency ( source)

so in future each country will have his own altcoin, what do you think about bitcoin ?
bitcoin still be 1st crypto currency ? or the new altcoin from biggest country will replace it ?

Both the UK (Bank of England) also started developing it's own crypto coin, and from what i heard more countries are behind them.
There will come more countries but none of them will really succeed. They don't realize what the people want

[Cromvel]

No country will replace bitcoins because to many users are now using them. But I agree to some extent that one or another cryptocurrency will rise sooner or later to compete with Bitcoins.

[Indrawan77]

Bitcoin will still survive no matter how many alt coins will come out or being created, bitcoin will be used globally
Unless the alt coin can become as famous as bitcoin then maybe the alt coin can replace bitcoin but i dont think that can happen

[hasiramasenju]

even those countries will have their own cryptocurrency but doesn't mean people in there will not use bitcoin especially for those who has get benefit from bitcoin but it all depends on global market because if bitcoin prices going down and will became useless may be another cryptocurrency will replace bitcoin but if we see the current situations i think not possible because people still like and use bitcoin

[serje]

It is hard, but not impossible!
Imagine China makes it's own coin! And then convinces Russia and India to use they coin to rule the world, USD will drop in price and some other countries will adopt China coin, then there will be another group of Middle East countries will make another coin and they both(coins) will be close in price or above BTC, after that Europe, Africa and America(north, central and south) will switch to BTC, after that Australia will join China and we will only have 3 major coins!

China coin, Middle East coin and BTC.

Oh I've almost forgot, Japan will still have yen as currency because of Mark Karpelès!!!!

[hendra147]

bitcoin will still be number one, you can see the current altcoins like Lisk and ETH it still can not beat bitcoin.
but very likely in the future, there is altcoins that can surpassed bitcoin, but not replace bitcoin.

[TastyChillySauce00]

lol that's funny to see country creating cryptocoin and got inspired by satoshi nakamoto,bitcoin will probably lead those coin as a coin which have the highest value among all,because it's the first cryptocoin ever created and have been used to be payment processor for few online stores around the world

[talkbitcoin]

this is so pointless in my opinion.
bitcoin or any altcoin (crypto currencies in general) are better to be decentralized not becoming a centralized coin controlled by the government or the banks.

[outatime1]

Countries can have their own cryptocurrencies just like they have their own fiat. There will be many altcoins and bitcoin that are outside of government control and will stay that way hopefully. I could see a small country using bitcoin as an official currency, but they won't control it.

[rio3233]

I think it will same like fiat. I mean, if every country have their own altcoin, it will same as dollar, rupe, poundsterling but changed using digital coin and bitcoin will be the main coin for all country.

[BTCLovingDude]

one of the good things that bitcoin has brought us so far is the fact that you can use bitcoin globally without any restrictions.

so i don't really see what the point of all these country restricted altcoins can be when you can't use them freely.

[Ayers]

centralized altcoin? not good, not different than fiat, i stick with bitcoin for everything that it's not centralized, if government can come up with something decentralized, i'll perhaps change my mind

[alyssa85]

this week i read 2 news same news
1. Bank of Tokyo-Mitsubishi says testing its own digital currency ( source)
2. Canada Has Been Experimenting With A Digital Fiat Currency ( source)

so in future each country will have his own altcoin, what do you think about bitcoin ?
bitcoin still be 1st crypto currency ? or the new altcoin from biggest country will replace it ?

Both the UK (Bank of England) also started developing it's own crypto coin, and from what i heard more countries are behind them.
There will come more countries but none of them will really succeed. They don't realize what the people want

I don't think these countries are experimenting with digital fiat because they want to replace bitcoin. It is because they want people to be able to use cash online without dealing with a third party like VISA, which charges fees.

Plus, the whole reason the banks were bailed out in 2008 was because they controlled the payment network - if you allowed the banks to fail, how would people receive their salaries, buy their groceries, pay their mortgages and taxes. However if you have digital fiat, you can do all of that on the blockchain, it won't fail because it is managed by the central bank's miners. Once they have digital fiat, they can safely allow banks to go bust without affecting commerce. That is what is behind this.

Digital fiat isn't a threat to bitcoin any more than fiat is a threat to bitcoin. It is a threat to banks.

[Carlton Banks]

Digital fiat isn't a threat to bitcoin any more than fiat is a threat to bitcoin. It is a threat to banks.

Alyssa, who owns the Central Banks? (hint: it's not the corresponding jurisdictional government).


So many other aspects of the picture you paint are pure fantasy (which is typical of you). For instance, there's no way that any of the major (now heavily consolidated) banking institutions can convincingly be allowed to go bust. The value of the derivative contracts the major banks hold is far, far too much for the markets to absorb without creating total chaos, i.e. orders of magnitude larger than the entire world economy. And these bank can't convincingly go bust without selling their "assets" as a part of the bankruptcy, and the only "buyer" would, irony of ironies, be the central banks, no different to all those defaulted mortgages that the major central banks now have amongst their "assets".

So please, educate yourself before you speak so assertively, you frequently have little idea what you're talking about (although I've noticed you do understand bureaucratic rule systems pretty well... anything to declare? lol)

[serje]

Digital fiat isn't a threat to bitcoin any more than fiat is a threat to bitcoin. It is a threat to banks.

Alyssa, who owns the Central Banks? (hint: it's not the corresponding jurisdictional government).


So many other aspects of the picture you paint are pure fantasy (which is typical of you). For instance, there's no way that any of the major (now heavily consolidated) banking institutions can convincingly be allowed to go bust. The value of the derivative contracts the major banks hold is far, far too much for the markets to absorb without creating total chaos, i.e. orders of magnitude larger than the entire world economy. And these bank can't convincingly go bust without selling their "assets" as a part of the bankruptcy, and the only "buyer" would, irony of ironies, be the central banks, no different to all those defaulted mortgages that the major central banks now have amongst their "assets".

So please, educate yourself before you speak so assertively, you frequently have little idea what you're talking about (although I've noticed you do understand bureaucratic rule systems pretty well... anything to declare? lol)

Now this story is better than mine!!!

Applause for you Mister Carlton Banks

you almost got me .... but I saw what you are doing at lol! .... that made me laugh!