Will countries launching their own cryptocurrencies affect bitcoin?

[Colt22]

I think in that case a situation will be created like what is now created in the fiat currency. like every country have their own currency and they are using them for their national use while there is another currency wich is dollar which is used for worldwide use so when every country will have their own coin then their coins will be used for national use and bitcoin will be used for worldwide businesses.

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[carlisle1]

maybe some of them
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .

well those mention countries are a well known countries that surely can adopt this system and create their own project, but because of some possible concerned they are not implementing or making it to public bitcoin already gather much attention mainstream and surely a lots of established countries already notice the big potential.

[freebutcaged]

By taking a look at a few exchanges and seeing their list of coins you'll realize that no matter how many other coins decentralized or not.

Bitcoin is the king and will remain as so. what is the difference between a country's currency whether it's in digital form or not? I'll tell you

Nothing, there is no difference, even now with the platforms such as ethereum it's very easy to launch a crypto coin than ever before.

You'll just need to set the total supply and that's it you have your coin just like that, I don't see any of them having any impact on Bitcoin.

[bkbirge]

I wonder what the crystal ball gazers on here say about bitcoin becoming the world index reference, much like USD are today or gold used to be.

[Jordan_Hodge]

A growing acceptance of crypto currencies, be them centralised or otherwise, will only have a positive effect for Bitcoin. I have noticed that the more 'genuine information' people discover about Bitcoin, the more they like it.

[flower1024]

I think in that case a situation will be created like what is now created in the fiat currency. like every country have their own currency and they are using them for their national use while there is another currency wich is dollar which is used for worldwide use so when every country will have their own coin then their coins will be used for national use and bitcoin will be used for worldwide businesses.

What an analysing man, yes you are right now every country having their own currency but we can use Dollar anywhere in the world. This becomes like global currency like that suppose if all countries created their own crypto coins then the bitcoin will become the global crypto coin. We can exchange any coin with bitcoins.

[Vaskiy]

maybe some of them
like USA, Japan and EU zone
cause those financial systems are working well and have huge reputation. But i dont think each country could handle to make their own .

well those mention countries are a well known countries that surely can adopt this system and create their own project, but because of some possible concerned they are not implementing or making it to public bitcoin already gather much attention mainstream and surely a lots of established countries already notice the big potential.

Yeah, as a part few of the grown Countries have adopted bitcoin and few have made their own digital tokens. Few of which are Korea, Australia, Switzerland, but none has got it much popularized as it's used for transactions within the country. So such things won't make a big impact on bitcoin growth.

[squatz1]

The only way it's going to do anything is if this country is going to be promoting this cryptocurrency as the new official currency and the only one that can be used within the country. If they're doing this, it's going to force BTC and other mediums to be stuck and to kinda have to be stopped usage in the country or risk repercussions from the government. If a country is just launching one to launch and try to ride on this market or something that's not going to do anything in the least.

So, maybe it'll affect bitcoin if this leads to Bitcoin becoming illegal in some places due to the government not wanting to compete at all.

[audaciousbeing]

There is no way it wont affect bitcoin but not massively because majority of users of bitcoin are not basically just using it for local transactions only rather for dealing with citizens of other countries which I feel national crypto-currencies will be limited and there wont be any difference in the way the current fiat is. But at the same time if there is no restriction to the use of the internet then I see no serious threat against the continued dominance of bitcoin over other national crypto currencies.

[severaldetails]

I don't think that many countries will creat an own cryptocurrency.
All the cryptocurrencies you see right now can be devided up in two groups:
Those who are completely obsolete and those who are assets.
I see no cryptocurrency at the moment that would be a medium of exchange.
But that is exactly what a currency should be!
The big ones are objects of speculation, the small ones, honestly I don't know why they exist.
I think that governments have already noticed that trend as well.