Will governments create their own cryptocurrency that will replace fiat?

[Tukang Becak]

I think this is a step that is not right, if every country or government makes its own cryptocurrency, then other countries would not necessarily accept it so that it makes no difference with the ordinary currency, better a few countries join to create a cryptocurrency so that can be used globally.

[Snorek]

I think this is a step that is not right, if every country or government makes its own cryptocurrency, then other countries would not necessarily accept it so that it makes no difference with the ordinary currency, better a few countries join to create a cryptocurrency so that can be used globally.

I don't think you are understand the stakes here. Governments are trying to create exactly that - a electronic version of FIAT. They don't want to dominate global market with it.
It is attempt to force every citizen to use digital version of FIAT - because that will give ultimate power to the government - every single transaction will be monitored.
So no more tax evasion, no more spending your money when government is not looking, no more paying someone under the table. That is the future we would have.

BTW - We already have global digital currency, it is called Bitcoin.

[morantis]

they don't even have to create their own.  all they have to do is apply their resources to mining existing coins, starting with btc.  in the navy i working in and out of active and inactive server farms that had various purposes.  enough power in just one of those to match any commercial farm.  fact is that they could be mining right this moment and simply stock piling.  they can be appearing to fight BTC and crypto and then "lose the fight" and suddenly be the top bag holder, this is the only real problem with the fact that many coins are based on the power of mining, something that most of the super power governments have plenty of at their disposal

[Dux2K]

they don't even have to create their own.  all they have to do is apply their resources to mining existing coins, starting with btc.  in the navy i working in and out of active and inactive server farms that had various purposes.  enough power in just one of those to match any commercial farm.  fact is that they could be mining right this moment and simply stock piling.  they can be appearing to fight BTC and crypto and then "lose the fight" and suddenly be the top bag holder, this is the only real problem with the fact that many coins are based on the power of mining, something that most of the super power governments have plenty of at their disposal

if they start to mine then we will be in serious trouble
but personally hope that it will not happen

[Blitzboy]

If the Government want to fight with digital currencies, they must create their own cryptos in the future. At present, more and more people realize the benefit of Bitcoin and start using them instead of Fiat, which strongly affects the economic system and slowly kills the government FIAT. Because users do not have to pay tax, Bitcoin is widely used for many purposes and if no one uses FIAT anymore, the government will not receive any tax and definitely they will die.

[n691309]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

Seeing how easy is to create a new coin I think the government will not create their own cryptocurrency because it's not the right time these years, the fiat is pretty good and as long as there is no big crash on fiat they won't move in crypto.

[chaser15]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No and it will not happen as purpose to replace fiat. They will create a crypto but fiat will still be dominant.

It's not as easy as to think that the whole world will embrace the cryptocurrency. There will be lots of major problems that will encountered. 100 years is not enough as trial period to learn all the risk if the whole world will used cryptocurrency. If only one country will do that, expect that it will not be bloom. It is just an option but not to replace the fiat as a whole.

[diegz]

If the Government want to fight with digital currencies, they must create their own cryptos in the future.

No need to do that, and if they do, it will definitely don't look like bitcoin.

At present, more and more people realize the benefit of Bitcoin and start using them instead of Fiat,

No also, I noticed that most of the users of bitcoin are there for its financial benefits and not really the purpose of using it as a money for transaction.

which strongly affects the economic system and slowly kills the government FIAT.

Bitcoin can't make the economy fall, remember, economy doesn't just include money system, but many more like the GDP and so on.

Because users do not have to pay tax, Bitcoin is widely used for many purposes and if no one uses FIAT anymore, the government will not receive any tax and definitely they will die.

Tax is applied not only in money, but to products too, so if you are using bitcoin and yet you are part of the government or the system and using everything around it, including the food we eat, we are paying tax even if its not direct or even if you are using bitcoin.

[Positid]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No and it will not happen as purpose to replace fiat. They will create a crypto but fiat will still be dominant.

It's not as easy as to think that the whole world will embrace the cryptocurrency. There will be lots of major problems that will encountered. 100 years is not enough as trial period to learn all the risk if the whole world will used cryptocurrency. If only one country will do that, expect that it will not be bloom. It is just an option but not to replace the fiat as a whole.

Crypto currencies will only be use for online transactions while the masses cannot adopt with this, it's not easy for them as they are comfortable in using fiat than crypto. With the current situation we cannot live with only our crypto currencies at hand, no major businesses that accepts crypto which I believe necessary for us to buy our wants and needs to survive.

[Carlsen]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

No and it will not happen as purpose to replace fiat. They will create a crypto but fiat will still be dominant.

It's not as easy as to think that the whole world will embrace the cryptocurrency. There will be lots of major problems that will encountered. 100 years is not enough as trial period to learn all the risk if the whole world will used cryptocurrency. If only one country will do that, expect that it will not be bloom. It is just an option but not to replace the fiat as a whole.

Crypto currencies will only be use for online transactions while the masses cannot adopt with this, it's not easy for them as they are comfortable in using fiat than crypto. With the current situation we cannot live with only our crypto currencies at hand, no major businesses that accepts crypto which I believe necessary for us to buy our wants and needs to survive.

I don't think that a government will create a future crypto currency, I think that one of the major IT businesses will do that.
They have the money, the men power, and the public notification to create a currency a lot of people would use.
Imagine the google-dollar or the apple-coin.

[Napole0n]

It looks like this process takes a long time, I am not sure that the State wants to create and use the cryptocurrency during the official currency is still used. If the State uses the cryptocurrency then automatically they will be replaced official currency.

[X-ray]

It looks like this process takes a long time, I am not sure that the State wants to create and use the cryptocurrency during the official currency is still used. If the State uses the cryptocurrency then automatically they will be replaced official currency.

the process of creating cryptocurrency itself don't take that long time if they are going to use source code of some coin which were published in many some website. and if the state uses cryptocurrency they will more likely not to replace the official currency but making a digital version of it and maybe considering it as secondary option for their currency

[coynedterm]

In the next 100 years, do you think Governments will create their own cryptocurrency or digital currency that will replace fiat currency, i.e. coins, paper money, the paper dollar,  etc.?

If it does happen, will it be like bitcoin or will it still represent gold like how today's money works?

If it happen then no impact will goes for Bitcoin because in Bitcoin the main feature is to have impact on other currencies like a god of other currencies .
All the new cryptocurrency coming in the online world are In the price of Bitcoin or satoshi only .

[uname]

It looks like this process takes a long time, I am not sure that the State wants to create and use the cryptocurrency during the official currency is still used. If the State uses the cryptocurrency then automatically they will be replaced official currency.

of course obvious that the government will not do it, menggantik fiat with cryptocurrency is a stupid thing, anyway cryptocurrency is decentralization would not be controlled by the government, ?

[Factmine]

I don't think so!

Governments will stick with what they have now. They will never surrender to the futuristic concept of cryptocurrencies. The general reaction of people to change is fear it. The government will be afraid to adopt change and just try to be safe and comfortable with what they have. I'd like to see the opposite, though. I'd like to see digital currency in the near future. A future without paper money.

[Fatanut]

I don't think so!

Governments will stick with what they have now. They will never surrender to the futuristic concept of cryptocurrencies. The general reaction of people to change is fear it. The government will be afraid to adopt change and just try to be safe and comfortable with what they have. I'd like to see the opposite, though. I'd like to see digital currency in the near future. A future without paper money.

That might be the situation right now. It's only normal for humans to stay in their comfort zone, but once the majority of people around them has embraced change, they will too.

Now that everything's becoming more and more modern, it's only a matter of time until people start talking about bitcoin. It's only a matter of time for bitcoin to become one of the trending topics and the most used Hashtag in social media sites.

TL;DR: People don't want to change at first but once change is already there, they wouldn't have any choice but to adapt change. Even the governments would have to adapt change if the era of crypto-currency is already taking over.

[Zadicar]

I don't think so!

Governments will stick with what they have now. They will never surrender to the futuristic concept of cryptocurrencies. The general reaction of people to change is fear it. The government will be afraid to adopt change and just try to be safe and comfortable with what they have. I'd like to see the opposite, though. I'd like to see digital currency in the near future. A future without paper money.

That might be the situation right now. It's only normal for humans to stay in their comfort zone, but once the majority of people around them has embraced change, they will too.

Now that everything's becoming more and more modern, it's only a matter of time until people start talking about bitcoin. It's only a matter of time for bitcoin to become one of the trending topics and the most used Hashtag in social media sites.

TL;DR: People don't want to change at first but once change is already there, they wouldn't have any choice but to adapt change. Even the governments would have to adapt change if the era of crypto-currency is already taking over.

Crypto currency era is just starting on its earlier years,therefore we could really say that it will continue further more and there would be really a change regarding on monetary system.People will surely switch when government would impose the new change regarding on digital currency but i believe it would really took a very long time  before a certain country will adopt.

[rickadone]

I think this is a step that is not right, if every country or government makes its own cryptocurrency, then other countries would not necessarily accept it so that it makes no difference with the ordinary currency, better a few countries join to create a cryptocurrency so that can be used globally.

Just like European union. I think most of the countries must be thinking about that as the trend about online business and shopping is spread in rapid pace, they must be thinking to facilitate their people providing them good online opportunities. But for this, their country specific cryptocurrency will not help. Only bitcoin must be a right solution.

[BitcoinPanther]

I don't think so!

Governments will stick with what they have now. They will never surrender to the futuristic concept of cryptocurrencies. The general reaction of people to change is fear it. The government will be afraid to adopt change and just try to be safe and comfortable with what they have. I'd like to see the opposite, though. I'd like to see digital currency in the near future. A future without paper money.

I disagree. Don't take government as a fool that knows nothing about technology.  Unlike normal people that can instantly change his way of living without thinking other people, government act the other way.  They have several laws in their library that binds them to certain moves.  They also have several ties and agreements that will probably take several decade that will forbid them from adopting the idea of cryptocurrency.  One of the better sample is, why does other country can't produce weapons or build weaponry themselves?  The reason, is that they are bind to an agreement in return of certain favors.

[Betwrong]

I don't think so!

Governments will stick with what they have now. They will never surrender to the futuristic concept of cryptocurrencies. The general reaction of people to change is fear it. The government will be afraid to adopt change and just try to be safe and comfortable with what they have. I'd like to see the opposite, though. I'd like to see digital currency in the near future. A future without paper money.

I disagree. Don't take government as a fool that knows nothing about technology.  Unlike normal people that can instantly change his way of living without thinking other people, government act the other way.  They have several laws in their library that binds them to certain moves.  They also have several ties and agreements that will probably take several decade that will forbid them from adopting the idea of cryptocurrency.  One of the better sample is, why does other country can't produce weapons or build weaponry themselves?  The reason, is that they are bind to an agreement in return of certain favors.

Actually it's not always like that. In many cases they just can't create a weapon because they don't have the technology and/or resources to do it.

I don't think a government if it decides to use a crypto will create a new one. I think it will use one of the existing ones instead.