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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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July 13, 2018, 02:30:51 PM
 #241

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?

I do believe that this will be happen in the future. Because I can see that a lot of countries especially 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..
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July 13, 2018, 04:10:15 PM
 #242

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?

Coin government is not worth of investing because most of the people will not going to invest on it which means the coin price will not grow in the market since everyone hates the government policy.

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July 13, 2018, 04:52:50 PM
 #243

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?
Governments of different countries have already begun to create their centralized crypto currency, and even more express their intention to create it. I think that this will be a good addition to the national paper money. National centralized crypto currency will help raise confidence in decentralized types of crypto currency, as the population will see a serious attitude of state bodies to the crypto currency and will be convinced that this is not fraud and that the state itself recognizes it. The centralized crypto currency of its state can be useful to its citizens, at least at the initial stage. And what will happen next - we'll see. It is unlikely that such a crypto currency will be of interest to citizens of other countries.

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July 14, 2018, 07:50:15 AM
 #244

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?

I will not investing on a coin that is issued by a government because probably, it will just fail in the future since other people hates government taxes and they will not support a coin that is created by the government.
That does not sound a logical reason. The logic behind investing in a coin issued by a country for example USA is the coin will have a very low or zero default risk. As a result, people will invest in the coin because the risk will be minimum and the coins backed by government are normally of high return. Like the bonds issued by a government are preferred over those issued by a company. This is the reason.

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July 14, 2018, 09:25:08 AM
 #245

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?

I will not investing on a coin that is issued by a government because probably, it will just fail in the future since other people hates government taxes and they will not support a coin that is created by the government.
That does not sound a logical reason. The logic behind investing in a coin issued by a country for example USA is the coin will have a very low or zero default risk. As a result, people will invest in the coin because the risk will be minimum and the coins backed by government are normally of high return. Like the bonds issued by a government are preferred over those issued by a company. This is the reason.
The risk will not change if you will be investing into a coin that is presented by a country because we all know that it is still cryptocurrency and the cryptocurrency used to be a volatile cryptocurrency and because of that thing then you might still lose the same amount of money like how much you lose to other coins.

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July 14, 2018, 11:24:46 AM
 #246

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?
The question is– have you ever gotten anything useful from your government?If so and if you think that they are reliable then you can go for that coin, but remember that one day power will change hands, the same person on seat today wouldn’t be the same person on seat tomorrow.

And if the person you’re seeing today is a good person, the next might not be the good one. But Blockchain is open and no one controls it. So I don’t think I would go for a coin that is being issued out by the government.

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July 31, 2018, 07:56:00 AM
 #247

Of course, it depends on which government would support that coin, because if it is my government I doubd, that would go into it!
No matter the government that is creating the coin, there is nothing actually there to go for. Sure, I may still be trading it just the same way I trade Forex and that may actually bring about a better way to trade. However, we also need to remember that there is actually no way it would not be centralized and controlled, so holding it would really not bring about anything different from the fiat we have been holding all our lives.

It would just be the same as holding fiat then because it would centralized and controlled by the government. It may use the blockchain technology but it would be controlled then and holding it for investment purposes would not be worth it if you intend to make it as long term investment. It would be pegged to the fiat currency of the government. If I intend to invest in a cryptocurrency then it would be decentralized just like the cryptocurrencies now and maybe issued or have some partnership with reputable companies.
I will think about it because if a government issues a coin it means that it will be centralized and they will impose tax on it. if the tax ratio is reasonable and the coin is demandable in the market and place itself in the exchange list then I will invest in it, otherwise I will not. I don’t want to pay taxes to government because of the low profit ratio.

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cahbagus555
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July 31, 2018, 08:29:30 AM
 #248

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?

If that country is advance country like Germany, I am believe that coin will be rising the price when launch on market. Investor must be want to keep that coin because that coin back up by government. I will invest on coin like that because its more safe and must be profitable

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July 31, 2018, 09:06:30 PM
 #249

Nobody is interested to invest in a coin which has good brand value or have a good country backup, the investors looks for the potential of the coin and there is no other things will make them attract. If that particular country coin or the particular crypto launched by a country does not fulfill the potential then it is one of the least attraction for an investor. Things always goes in this way in crypto market trading.
This can also be a good opportunity for the investor or the national community. Just as it has high potential and profitability, it will be very quick to develop. However, I think it should apply to new countries, prepare for development or nation less well known electronic money may chance to win if the investment.

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July 31, 2018, 09:28:38 PM
 #250

IMHO, this is ultimately the only way to mass adoption of crypto currencies.  I think this will eventually happen because i doubt that governments worldwide would subscribe to a truly decentralized system.  Consequently, they'd have to get banks/financial institutions involved in one form or another and centralize the system.   That centralization is key to any government participation in crypto because it allows them to pry, collect taxes and generally know everyone's business as usual. On the question of going or not going for it, for me it depends on which state(s) introduces such coin because 'respectable government' is such a loose term IMV, also the level of privacy that the coin will avail its users. 

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July 31, 2018, 10:10:31 PM
 #251

It would be great if a government really support a certain cryptocurrency as it means that they believe in its potential and accepts it as another currency option. It would be easier to do transactions using altcoins.

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July 31, 2018, 10:18:32 PM
 #252

The idea is good. It is more secure for investment. Countries can issue coins and trade. Actually, it already exists. Some countries issue coins and customers even get the benefit. The thing is that the benefits are not so big compared to other cryptocurrencies. With the bitcoin for example, in 20 years, we are going to have many millionaires. We even have some millionaires this year thanks to the cryptocurrencies. Governments cannot allow that. The benefits will go straight to them. It is like the banking system. Actually, banks make a lot of money for people. The benefits go to the banks and the countries. People who invest in banks get something. The biggest part of the benefits goes back to banks and countries. In that case, I will not invest in a coin issued by a government.
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