A coin issued by some country government - would you go for it?

[c++btc]

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 guess it is depend on the country if you are investing in ICO of that cryptocurrency you will notice first the agenda of the tokens or the coins that they are releasing in that moment you will be sure if that is good. Things that are legal is not always good.

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[Ilegendph]

I will go for it as long it is within my country. I think that is good. For me it means cryptocurrency is already legal in our country. There would be advantages on it. If coins cyrptocurrency is issue on our country and issue by the government I will support it. I may think less about scam if that's happens.

Although what you said is true but consider the loop holes of decentralizing local currency and I believe that it will create chaos because the number would become limited and does not compensate on loss coins. Also, consider the fact that it would need machines for mining or confirming transactions would be very much expensive specially on hot places.

[robotrobert]

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 it does happen then probably people will start to get it since it has security with your investment, and you would have someone to blame with if that coin has to fail at something.

Well at that moment we may have big trust factor. As it would be allowed and offered but the government so we may trust them. We may input our money in that coin because we have surety it would never die and it could be potential coin for us. But still, as the expert says, don’t just believe in others. Keep a good research for you and only then take a step in something you want.

[Boov]

Government cannot issue  coin or crypto , while its fact that it will have a strong support system just like in bank , the bank of the government will never be or impossible to be a bankrupt. BUt the thing in creating cryptos of government is different thing, crypto companies are private and will never be in government, why ? government will not put a budget in crypto for the mere fact that they already inside the stock market, it will be ahassle for them to create a company or it will not abide the law for government to create a company. these thoughts are based on my own idea and some researches.

[gambitcoin53]

yes, there are some drawbacks like since it is a government project, there would be some issues on anonymity of users and holders, they can easily tracked down the users and taxed them with a pretty much fees. but in the other side, since it is from the govt, there would be no issues on legalities and legitimacy of its ICOs. just like when we first knew about bitcoin, we took the risk, maybe it will be the same with govt coins. its your choice to venture or not.

[SplendidHunter]

I think that it would totally depend on the country that will issue a cryptocurrency in their own. So I would for start look on their life level.

[FrueGreads]

There is a lot of talk about that these days, as some countries show interest in crypto and specially in creating their own version of it. The thing is, you can't really compare the "typical" cryptourrencies, that are decentralized and independent, thus not controlled by any country. That is the key aspect of cryptocurrencies and a e-coin issued by any state or country would never have that.

I still think it would be a great idea, and it would still bring more transparency to that country's economy. It all depends on who would control it and how. If it was completely controlled by the government and not banks, that are usually private, then it would result in tremendous power for that government, and if it was corrupt it could end up badly.

As for those that are saying that any government that had it's own coin would completely ban the decentralized crypto, I just say that I don't really believe in that. They could try to do it now and they are not doing it, so nothing would change.

As for adoption, of course it would be huge, but that doesn't mean that the coin would be valuable. All currencies represent the economic power of a country, so it would only be as valuable as that country already was. I also doubt it would be scarce (and probably there wouldn't be any mining involved as well), so from that point of view, it would be just like fiat.

[muratdur]

If it would be a coin issued by my own country government, I think I would support and invest in it. But if some other country, I would think.

[jemarleon]

There is a high possibility that that coin will pass other coins price but I believe that it cannot pass the top 3 coins leading or even top 5 because the top 5 coins gets support from the whole world and the possible coins you are talking about will just support by one (1) country.

[cotton ball]

this has already begun to be done by japan and venezuela, but in fact they also have to deal with the crypto market widely and most still use bitcoin in their ecosystems, so their altcoin still has to move to gain global confidence. on the other hand, they also will not be able to intervene anything.

[totaleclipseofthebank]

well, I do not like an idea that being controlled by using government's cryptos, especially my government's crypto. My government is not good and they try to do anything they can to steal the people's money. And it will become a nightmare if they start the cyber network money. It will be easier for them to take away our money

[breathlessz]

this has already begun to be done by japan and venezuela, but in fact they also have to deal with the crypto market widely and most still use bitcoin in their ecosystems, so their altcoin still has to move to gain global confidence. on the other hand, they also will not be able to intervene anything.

both of that countries have different background. Venezuela is a country experiencing economic crisis, and Japan is a developed country that pioneered the development of cryptocurrency. even though their government issued its own coin but until now it still depends on bitcoin like other coins

[BrewMaster]

this whole topic is talking about a government issued coin from an investor's point of view but it is not the only way of looking at it. you can see it as another currency issued by the government. just like fiat people are going to easily use it so it will become popular at least in that country.

but also you should remember that these governments are issuing a "currency" not an investment an also it will be centralized. these two simple points mean such coins will be stable. so investing in them is not really something to be  discussed! it is like saying will you invest in US dollar that US government issues?!!

[Bezobraznike]

this whole topic is talking about a government issued coin from an investor's point of view but it is not the only way of looking at it. you can see it as another currency issued by the government. just like fiat people are going to easily use it so it will become popular at least in that country.

but also you should remember that these governments are issuing a "currency" not an investment an also it will be centralized. these two simple points mean such coins will be stable. so investing in them is not really something to be  discussed! it is like saying will you invest in US dollar that US government issues?!!

   You have good arguments. Investing in government crypto-currencie wouldn`t be an investment cause it`s stability, it
can be store of value for people who trust in it.
   If government issue a crypto-currencie it will not a be a choice for people who live in that country to accept it or not.
Governments have ways to force people and companies to use it. There can be referendum before accept in it, to ask
citizens are they willing to go forward or not. I would vote for yes, better transparency, faster transactions, more safety
and bigger security, why would anyone say no to this things?

[Ctn]

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 think it will catch attention of most of the people around the world. But there are few things which it must contain, it must be more than a currency! It should have some function that can help the international people at something. Something like using it for the international transfers in the form of their tokens and thus not getting extra charged etc etc. Really there could be many more applications of that and this token can turn into some beauty to help investors earn something out of it. So yeah, it could be good deal but the country must let use it to internationals!!

[7Dyoknga5]

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 will surely draw support especially if the government will mandate it's use. I just doubt if their won't be any scam anymore, scammers are creative.

I also don't see any reason to acquire other country's currency if I'm not living in it, therefor making each currencies popular only in their country.

[Mpamaegbu]

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?

Hell No! I won't go for any coin crafted by a government. There will always be that control by politicians. And politicians are crooks. I rather swim with the whales than the political sharks. Just like the Venezuela Petro, I am sure many people are skeptical buying into it not because it won't do well but because of the massive and unrestricted control  the country's politicians will have over it. Again, businesses are better run by private individuals, and not by government.

[Happydd]

A coin issued by the national government will become the official currency. The money will be used in daily life, transactions and transfers through banks. But bitcoin in Vietnam is not issued by the national government or accepted payment.

[batang_bitcoin]

Would it get more attention than some of the biggest coins now?

If that country will strict in implementing and promoting their own coin then it will have more attention than the biggest coins. AFAIK there are coins that was into the same thought of being held by a government but most of them didn't reached success.

A coin issued by the national government will become the official currency. The money will be used in daily life, transactions and transfers through banks. But bitcoin in Vietnam is not issued by the national government or accepted payment.

This can only happen if they'll make certain government rule that is dedicated for their coin.

[BitProNews]

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?

Of course it will become centralized by a supreme authority.
Yes, technically it's possible for a government to issue a crypto currency and keep it decentralized but this will generate no benefits for it. Governments and national banks will stand against any kind of freedom may be offered to it's citizens by any tool especially in technology because science can't be easly governed.