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Author Topic: Government digital currency!  (Read 3778 times)
error08
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December 16, 2016, 12:13:15 PM
 #21

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?
No, it's not happening as they just consider to digitalize their physical currency.
Because the problem is privacy freedom of people who have the money.
However, another problem that arises when failing to anonymize a currency is the inevitable outrage from the Danish people who expect to be provided with financial freedom and privacy. Rohde hasn’t decided yet if the central bank should monitor and track the transactions of its people.
Not happening because they still far away to make any decisions of it, they need go through a long way discussion and consideration.
The Danish central bank is still far from figuring out the technical aspects of their digital currency
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December 16, 2016, 12:16:03 PM
 #22

No, it's not happening as they just consider to digitalize their physical currency.
Because the problem is privacy freedom of people who have the money.
However, another problem that arises when failing to anonymize a currency is the inevitable outrage from the Danish people who expect to be provided with financial freedom and privacy. Rohde hasn’t decided yet if the central bank should monitor and track the transactions of its people.
Not happening because they still far away to make any decisions of it, they need go through a long way discussion and consideration.
The Danish central bank is still far from figuring out the technical aspects of their digital currency

that was stuff discussed in 2015 and again in i think march. from what i have searched. they have played around with a few concepts. and done a few aplpha tests.. they are further along then you think

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December 16, 2016, 02:54:55 PM
 #23

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?


Governments will never accept bitcoin, they may be neutral towards it at best, but never positive. Maybe in special places like Switzerland they will be positive and officially accept it as national currency, but in most places they will not, they will develop their own closed source crypto that is controlled by NSA. This is why we need segwit fast so we can have all eh privacy features that come with it. Anyone not supporting segwit is a NSA agent by side effect.

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December 16, 2016, 03:03:56 PM
 #24

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?


Governments will never accept bitcoin, they may be neutral towards it at best, but never positive. Maybe in special places like Switzerland they will be positive and officially accept it as national currency, but in most places they will not, they will develop their own closed source crypto that is controlled by NSA. This is why we need segwit fast so we can have all eh privacy features that come with it. Anyone not supporting segwit is a NSA agent by side effect.
They will never accept bitcoin since they know that they cant able to control it besides they will just create a crypto that would only based for their nation and would like to have the full control out of it.Regarding on the news above i could say that making an own crypto is really possible and its already starting.

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December 16, 2016, 03:10:46 PM
 #25

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?


Governments will never accept bitcoin, they may be neutral towards it at best, but never positive. Maybe in special places like Switzerland they will be positive and officially accept it as national currency, but in most places they will not, they will develop their own closed source crypto that is controlled by NSA. This is why we need segwit fast so we can have all eh privacy features that come with it. Anyone not supporting segwit is a NSA agent by side effect.
They will never accept bitcoin since they know that they cant able to control it besides they will just create a crypto that would only based for their nation and would like to have the full control out of it.Regarding on the news above i could say that making an own crypto is really possible and its already starting.

Possible Cases on other country making their own crypto is real that is why there are some that are really want to know who and where is Nakamoto but they have fail it finding him but the possibility in making their own has a high chance and we are in a certain age of higher technology now.


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December 16, 2016, 03:29:35 PM
 #26

I feel sorry for them.... {the citizens} .... They will have ZERO financial privacy with the e-krone and the ledger will be in control of the Danish

government. So if they want to block your money, or re-direct it to their coffers.. then they can do it. Those citizens are effectively giving their

government their wealth. You will not even be able to buy sexy lingerie for your spouse, without them knowing it. They plan to insert a serial

number within every e-krone to trace everything.  Angry

 “All money held by Danes will eventually end up in the central bank in the event of a financial crisis, and we will indirectly end up doing a bailout because we become a creditor to all the banks.”  Shocked Shocked Shocked

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December 16, 2016, 03:31:56 PM
 #27

well it is a good thing that some country already aware of digital currency, but the digital currency that people want is free from control, so nobody can control the price, if the government create digital currency but the government control it, it is just the same with fiat, i don't think there will be a lot of people interested in that digital currency

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December 16, 2016, 03:40:13 PM
 #28

A digital currency minted and regulated by the government is just another form of the fiat currency. How is it going to be any different from other digital forms of payment, such as Paypal, Skrill, Payza, and Payoneer?

They what the advantage of bitcoin technology with they own digital currency and not to be left behind. I think for any government that will be more convenient to reduce the fiat currency in circulation and save money at the same time. Furthermore, for the people that will be the same thing as any regular fiat currency with inflation, centralized and losing purchasing power every year.

I agree and I add to that governments and  banks they want only to reduce the operating costs and simultaneously to have under their control all the money of their citizens since cash would simply not exist. They are interested in blockchain technology but with a completely different concept from that bitcoin transactions use. So digitization of their fiat currency enables them to have greater centralization and control of the money of their citizens than this they have so far.
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December 16, 2016, 03:41:47 PM
 #29

There is no crypto currency like Bitcoin...it beats all...it is here to stay.they are embarrassing bitcoin in asia countries already
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December 16, 2016, 03:43:56 PM
 #30

Even by reading the thread title, i already know they only use closed-blockchain technology and obviously centralized.
It's not much from fiat, still no 100% control over money and no privacy at all.

They will have lots of data of their citizens in next few years just like NSA.

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December 16, 2016, 04:38:28 PM
 #31

I think they are just trying to ride the blockchain hype by creating a new version of electronic fiat that uses the fancy new "blockchain technology".
Seems like nothing new, the same fiat again.
Do you need to submit identification to be assigned an account, or do you just create a key-pair?
Is the blockchain public, or only known to the government?
Can you use a mix net?

If you don't have sole and complete control over the private keys, you don't have any bitcoin!  Signature campaigns are OK, zero tolorance for spam!
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December 16, 2016, 04:51:37 PM
 #32

I feel sorry for them.... {the citizens} .... They will have ZERO financial privacy with the e-krone and the ledger will be in control of the Danish

government. So if they want to block your money, or re-direct it to their coffers.. then they can do it. Those citizens are effectively giving their

government their wealth. You will not even be able to buy sexy lingerie for your spouse, without them knowing it. They plan to insert a serial

number within every e-krone to trace everything.  Angry

 “All money held by Danes will eventually end up in the central bank in the event of a financial crisis, and we will indirectly end up doing a bailout because we become a creditor to all the banks.”  Shocked Shocked Shocked
I would not think that the ledger would be public, I mean wouldn't that break several privacy laws?
Not saying that there isn't any cause for concern, but I'm sure they would not just open the records for everyone to see.


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December 16, 2016, 04:52:23 PM
 #33

Long ago, I saw there's possibility that US may use a "fedcoin" basically a digital money to replace paper money, not sure where are the thoughts now:
http://andolfatto.blogspot.com/2015/02/fedcoin-on-desirability-of-government.html
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December 16, 2016, 05:17:03 PM
 #34

It's happens.
https://cointelegraph.com/news/danish-central-bank-to-digitalize-national-currency

Quote
Denmark, a country where its population relies on cash less than most other European nations, is considering digitalizing its national currency. The central bank of Denmark is planning to issue its own Blockchain-based digital currency called e-krone as its reserve currency.

Denmark is the one of bitcoin countries friendly, which it's possible if they create own digital currency.

But there's the flaws for this implementation, it's can same as fiat, centralized, just in digital form.

Your thought?

It was always expected, we always knew that countries wont accept bitcoin itself but they can surely make their own digital currencies because the concept is really wonderful and deserves adoption but they wont accept bitcoin because they can't control it, so this is what they can do.
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December 16, 2016, 05:21:16 PM
 #35

So it's like bitcoin except the supply, distribution, and price are controlled by a central bank and can only be used in Denmark according to the rules laid out by a government.  Undecided

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December 16, 2016, 05:41:09 PM
 #36

Your thought?

I'm curious, did anyone actually read the article? What Danish Central bank seems to be doing is not related to either Bitcoin as such or the blockchain technology itself. The governor of the Central bank responsible for overseeing cash production (as per article), Lars Rohde, says himself that "the challenges the Danish central bank currently deal with aren’t related to Blockchain technology or alternative FinTech technologies". Really, why would they need the blockchain technology at all if they can do basically the same stuff through a completely centralized approach and do it more efficiently at that?

In short, much ado about nothing

So it's like bitcoin except the supply, distribution, and price are controlled by a central bank and can only be used in Denmark according to the rules laid out by a government.  Undecided

Yeah, the same fiat in allegedly Bitcoin disguise

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December 16, 2016, 06:30:34 PM
 #37


Possible Cases on other country making their own crypto is real that is why there are some that are really want to know who and where is Nakamoto but they have fail it finding him but the possibility in making their own has a high chance and we are in a certain age of higher technology now.

Bitcoin is open source. Noone needs Nakamoto to create their own BTC. Noone needs Nakamoto for anything really anymore...BTC is out of hes hands, he let it go and only thing he (or they) may have from it is value they have in their BTC wallets (if they have access to them)
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December 16, 2016, 06:40:49 PM
 #38

Most people in Europe and especially eastern Europe always think about their future and always pan ahead to avoid problems especially when it comes to economies, and especially after the hacks that hit the bank in Greece that opened a lot of windows and made them think of a serious solution , and the best alternative was bitcoin.   

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December 16, 2016, 06:41:03 PM
 #39

Thanks for sharing!

Donate MOONCOIN: 2PHY4AFFwESsyCgMMgb9nGGZ3vDnLFPqp
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December 16, 2016, 06:41:37 PM
 #40

Government are known to stick to the "tradition" . Even with technological advancement, modification and updates, they always make sure they follow the "tradition".  What they are making is just an exact opposite of Bitcoin in my opinion even if there is some similarities in technology.  So I think the digital currency they are planning is the same fiat currency but disguise as digital currency to ride the hype and trend.



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.ANN Thread.
.White Paper.
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