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Author Topic: A coin issued by some country government - would you go for it?  (Read 703 times)
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May 12, 2018, 05:52:27 AM
 #1

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?
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May 12, 2018, 06:00:46 AM
 #2

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?
Yes it will as most of its going investors will be on government it was expected annually since cryptocurrency is a good source of money capitalization or crowd funding that they will not needing so much money for them to use and they will go for an ico to make this things happens.

I've read a news a while ago the is related to the topic.

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May 12, 2018, 07:10:22 AM
 #3

A cryptocoin issued by a government may very well be a good investment and retain its value. But it would be at odds with what Bitcoin and cryptocurrency is general was conceived for. So I might buy it, but philosophically I would have reservations.
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May 12, 2018, 07:14:55 AM
 #4

I think there would be some issues and drawback, One of the common issues I guess is the anonymity which something that the government can't offer. They'll have a hold of your info and your money.
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May 12, 2018, 09:38:32 AM
 #5

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

It's alreday happened in Venezuela and other countries, so it's definitely a valid question.

In short, no. I would personally never invest or use a cryptocurrency that is issued by a central entity, in this case, some government around the world. I personally think that it defeats the purpose of having crypto in the first place.

A centralized crypto like one issued by a government essentially is just fiat or stocks, just hosted on a blockchain. Decentralization is the real future, imho.

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May 12, 2018, 09:42:37 AM
 #6

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?
Maybe but still this could not overthrown bitcoin from its highest place but government cryptocurrency will become popular to the investors because it is far from scam.
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May 12, 2018, 10:31:15 AM
 #7

The coin will gain popularity very fast but trust me since it involves government the secular will not be even. 70% of the coin will go to the top government officials then there will be serious manipulation at the long run.

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May 12, 2018, 01:21:01 PM
 #8

If a coin is issued by a country, then this country should give guarantees for the protection and security of its coin. How will the country ensure the reliability of the coin?

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May 12, 2018, 03:58:32 PM
 #9

I think cryptocurrency has no effect on the losses of their country's currency. which the state government fears about the crypto-coin are a cybercrime and money laundering.

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May 12, 2018, 04:08:13 PM
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I will first take a close look on the coutry standing behind that coin, if it will be mine, I will doubt, to invest, or not to, lol

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May 12, 2018, 04:14:33 PM
 #11

In order to encourage more people to use cryptocurrencies, it would be successeful that a country adopt it but what kibd of use will it be for those crypto created by governments. However, what kind of benefits could be from a cryptocurrency created by a centralized authority? It would always be manipulated.

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May 12, 2018, 04:19:59 PM
 #12

I believe this will happen in the future. I can see a lot of countries particularly in
Europe moving away from cash and more to digital currency, they may move
further to introduce blockchain based currency and it wont be a case of choosing
to use it because it will be the only option because it will be regulated, controlled
and centralised.

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May 12, 2018, 05:17:25 PM
 #13

However, what kind of benefits could be from a cryptocurrency created by a centralized authority? It would always be manipulated.
I was thinking the same, wouldn't it become centralized?
is it possible for a government to issue a crypto currency and keep it stay decentralized?

---snip---
... moving away from cash and more to digital currency, they may move
further to introduce blockchain based currency ...
---snip---
... because it will be regulated, controlled
and centralised.
advancing from digital currency to crypto currency will require massive change of equipment and infrastructure
regulating and controlling it will also become a big discussion and debate
but making it centralized is totally against the idea of using blockchain

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May 12, 2018, 05:25:34 PM
 #14

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?
As a currency for storing savings of using instead of fiat (if it is accepted as payment in stores) - sure, why not. As an investment opportunity - naah. The government of a good state with strong economy will not be interested in fluctuations. It would probably do the best to keep their coin and thus the whole economy stable. It would be a lot like tether but safer and at the same time probably not such a popular coin in trading pairs.

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May 12, 2018, 05:50:17 PM
 #15

I will first take a close look on the coutry standing behind that coin, if it will be mine, I will doubt, to invest, or not to, lol
I really wouldn’t mind the least about the country behind the coin, all that I will care about is if I am going to be able to make some profits from investing into the said coin.



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May 12, 2018, 05:55:13 PM
 #16

I would participate in a bounty program of such alternative currency, I think I would do well to make some money.
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May 12, 2018, 05:57:22 PM
 #17

Their is no use to consider the country behind the coin and person who had invented it.I will just check,whether it had potential to give some profit for my investments.Because it is my hard earned money,I don't want to inverse on any shit coin.You have to verify top to bottom of the coin before investment.

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May 12, 2018, 06:10:51 PM
 #18

I would participate in a bounty program of such alternative currency, I think I would do well to make some money.
A cryptocurrency backed and issued by the Government to launch a bounty? that won't be possible, bounties are from ICO (Initial token offering) in short token sale or crowdfunding, they need funds and support to launch their project and tokens developments, bounty campaigns are one of the methods to promote and ICO, it is well likely that Government have enough funds to develop and launch a coin and platform.

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May 12, 2018, 06:56:48 PM
 #19

The purpose of investing in crypto currency is to get reasonable profit as compared to solid asset like gold and silver.Instead of checking his origin,you can check the number of investors in that coin,you won't lose the investment if you had try this.Only you had check this, will give some profit.
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May 12, 2018, 07:19:46 PM
 #20

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own. It would surely be no scam and it would probably have a strong support, but would there be any drawbacks to the currency and the state itself? Would it get more attention than some of the biggest coins now?

NO, i am not interested in that. It defeats the purpose of decentralized crypto. It would have to permissioned on some level. You have that now, it is called fiat and is just a number in a system. It would be the same with goverment issued crypto

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