Isn't it funny that countries are testing their own crypto?

[Flight-87]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

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[Xester]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Countries are trying to make their own cryptocurrency, a currency which is centralized but at the same time transparent. While others are trying to save themselves from monetary deflation and they thought that it is one way to do that. Others such as Venezuela it is one way of getting away from the US dollars. There are many reasons but one thing is for sure it is controlled by the government at the same time it is transparent.

[SuperD007]

I think many countries understand that it is inevitable. The only way they might be able to maintain some control is if they adapt and introduce their own crypto's as well. Off course government backed crypto's will be fully centralized, monitored and taxed.

[piloder]

One of the recent jackass news is coming out of India where RBI have announced none of the bank will support bitcoin or related businesses but at the same time they are experimenting with their own crypto. 

They are trying to fool their citizens with their centralized token based on blockchain or something like that and they think if they will block people from trading crypto than people will be forced to only use those fuc*** government backed tokens as future money. LOL

[liamnorthcoins]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Heheheh yes it might be funny for some but this action i believe is also very helpful to test the capability of a new cryptocurrency. Like any other investments there are risks that pertains so the best thing to do is to double check the pros and cons so totally i would say that if other countries are testing their own crypto it just means they are just securing their investments and that is a wise thing to do.

[Flight-87]

One of the recent jackass news is coming out of India where RBI have announced none of the bank will support bitcoin or related businesses but at the same time they are experimenting with their own crypto. 

Hahaa.. That's a pure example of hypocrisy  

They are trying to fool their citizens with their centralized token based on blockchain or something like that and they think if they will block people from trading crypto than people will be forced to only use those fuc*** government backed tokens as future money. LOL

Though it's good if those coins are tradable with Bitcoin or alts  

[bitfocus]

The thing is, Bitcoin is decentralized and no government has control over Bitcoin. But the future economy is Crypto-Economy and every country is reying to embrace that issuing their own centralized crypto.

[eternalgloom]

From the governments perspective it actually is a pretty good idea to create their own crypto, even if it's centralized.
I'm just thinking that there are tons of possible applications that would reduce the costs in certain areas.

I'm wondering how Petro will perform in the future, not that I'm a fan of this currency.

[JerryJam]

I've heard that low-income countries are trying to create their own cryptocurrency. The governments of these countries are experiencing acute dollar mass.For example Venezuela introduced their what the al Patro. In fact, this can not be called cryptocurrency because they are fully controlled by the state.And it depends on the economy of the state. These two factors are the hallmark of cryptogenic. And to make contracts for any strange wrappers will not accept more than one state.

[sirkings0003]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Even though the idea behind cryptocurrency is decentralization, but i do not think governments are going into crypto to take over control. They are just like any other already existing company that decides to go into crypto as a way of utilizing the advantages there in.

[kevoh]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

The only good reason is because they are the Government. They make the rules and can as well bend the rules for their own benefits anyway while pretending it is for the interests of the citizens.

[gorandigitalnomad]

Keep in mind that government backed crypto's will be fully centralized!
But, good thing is that will reduce corruption, because every transaction is stored in blockchain and can not be changed!

[magneto]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Governments using blockchain tech is literally just trying to gain more control.

There is no point in having a crypto that is not decentralised. Because if someone can still control over the money supply and interest rate, then it's just the same as fiat currency. It's worthless because someone can get more into circulation with a press of a button.

There is no point either in having national cryptos for each country, when bitcoin is already a global crypto that doesn't have any borders.

I'd rather hang onto my bitcoin(real money) rather than buy into governments crypto fiat, thanks.

[bitart]

Keep in mind that government backed crypto's will be fully centralized!
But, good thing is that will reduce corruption, because every transaction is stored in blockchain and can not be changed!

This won't reduce the corruption this will only help the country to make the black/grey economy a bit more traceable (transactions between companies and people or between people). Governments will be smart enough (if they develop their own system) to find a way to preserve the 'old' channels too at least for a while and it won't stop the corruption...

[Kotone]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

I think they’re just trying to check and test if they can have a cryptocurrency that they can control. That they can manage. I think though to your point it can be considered laughable, you can actually see that it can be beneficial to them because as a government you would want something that you can manage so that you can check if it causes a ripple to your economic stature or if it has been causing a drop or rise in crime due to its implementation.

[Jemcrew]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Just lately news are coming about countries testing to bring their own cryptocurrency, which IMO is a tall tale. Cryptos like Bitcoin was not built just to make it more anchored. It was built to make it decentralized, take control back from Government authorities and give people the freedom they deserve. It appears like Govt. wants to get people to feel that Government. have no idea about this. Why do they need to make a countrywide crypto? I want to know one good reason.

[Loveaaronbaby]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

Yes, governments in every country are now aware of the changes that bitcoin has brought to the world. Because bitcoin is fragmented, they can't kill bitcoin completely, so it's a good idea for them to choose to join the cryptocurrency to gain revenue.

[Juggy777]

Recently news are coming about countries testing to bring their own cryptocurrency, which IMO is a joke. Cryptos like Bitcoin was not built just to make it more secured. It was built to make it decentralized, take control back from Governments and give people the freedom they deserve. It seems like Govt. wants to make people think that Govt. have no idea about that. Why do they need to create a national crypto? I want to know one good reason.

We don't period. These zealous government and bankers feel they'll launch a crypto and the world will go mad and invest in them, hell no i would never do it. They're hypocrites and they won't ever succeed all governments who're against them will be thrown out for good, these fools just want to loot us and they'll never succeed.

[plr]

Well, I have yet to see a successful I read some few years ago that a country airdrop a coin to their country but it is not existing anymore and there are no new attempts to do this again which becomes successful but let's see if this proves successful it is good for the whole community.

[qiman]

Governments want to control their populations, so they will just want to use the blockchain technology for their own gains. They do not like any decentralized entity that might make their citizens prosper and become independent of them. Now INDIA is also on the banning bandwagon but it's banks want to sue blockchain protocols for their own currency or transactions. Bitcoin was supposed to be a revolution for Mankind but it turns out it is just another manipulated toy for the Rich and Elite of this World, things never change.