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

[vaughn125]

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?

Lol, if that happens, I think that it can only result to bad out comes since it is pretty obvious that when they do this, they will clearly ban other crypto currencies out there so people would be using the crypto currency that they will be promoting. And they would probably be going for a centralized and heavily monitored type of crypto. It would not be any different from fiat that we use on credit cards or anything of the sort.

[vintages]

A country own cryptocurrency is not really a bad thing .  It also still signifies that  cryptocurrency is being accepted by many governments. Though, I have heard that some countries have started this, but don't know how true this is. This development will improve the financial state of the citizens who invested, if implemented. But I personally won't invest in such currency,  cause it will be more centralized.

[ShadowBits]

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.

[Hydrogen]

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?

Imagine if a state announced it would enter the search engine business to compete with google. Or if the united states federal government proposed plans to enter the electric car market to compete with Tesla and Elon Musk. I think the response to those plans are what most would expect from a government entering the crypto currency world.

The main issue with many state run programs is they lack incentives to be efficient or cost effective in a way which would make them competitive against private sector entities. The state has a lot of clout but there are no metrics in place which would allow a person to determine how effective or ineffective tax revenues are being spent. Politicians tend to be entirely computer illiterate, economics illiterate, war and defense illiterate. They're often entirely at the mercy of analysts, campaign contributors, special interests or advisors as they themselves do not comprehend issues like net neutrality.

Part of the reason for bitcoin's success could involve people losing faith and confidence in governments to solve problems. In the USA the government has spent trilions attempting to fix issues like healthcare with little or no success. If the government released a crypto currency, there wouldn't necessarily be any real support for it. Not when the USA and european union are trillions in debt and not giving much indication that they are capable of successfully running things without destroying economies of their own country(if that makes sense).

[pitiflin]

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 United fucking States of America, then no. Other countries? Maybe. But probably I wouldn't care. It's crypto, do you know what that means? It can be used globally by anyone, anywhere. No one can stop that. And FYI, there is no respectable country. All of them are shit filled countries. And it won't get more attention, don't you worry.

[patz22]

Well if there is no law or high fees in using probably yes I would go for it and I agree with the statement above wherein even it is issued by a country still it will be used globally. But it is a government so meaning for sure there's corruption and in my opinion once they introduced their own crypto they'll try to manipulate crypto industry within its territory such as exchanges etc.

[Tynovten_]

It will being an interesting thing for us to invest legalize bail already on hand. For all this time, crypto hasn't been accepted because the validity in eyes of half government so people lack of belief. If the government already take out of course it will invite many investor. But i will ask for the tax i haven't get any imagine about that. Currency before will still populer in half of people but little currency maybe will be disappeared.

[David Way]

Yeah it might be an interesting idea to purchase the government backed crypto because the government issued cryto is bound to get to the mass adoption stage quickly with banks and retailers jumping into it - ultimately driving the public to use that crypto to trade

[danielberryfy]

i dont think so... until and unless government issued coin has a great value / USP against bitcoin..

[maculeth]

just want, as long as the fee for each transaction is not too big. because a large fee will greatly burden its users.

[Baofeng]

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?

Petro, a Venezuelan back crypto has already been launched. And they said that they are going to used it to trade specially to circumvent the trade embargo impose against them the US lead nation. Right now it has gain attention, but the big question is who the hell are going to used it? Can we go and register an account to local Venezuela exchange and buy/trade it? And how you do trade for other nations? They say they have been trading it with Russia but I haven't seen any concrete evidence to back up this claims though.

[xuan87]

if it's created by government I won't put it, I believe the coin will be centralised and we won't have any freedom to used it, there will be trackers and documents that need to submit to buy, and I will choose other investment if I got to choose centralized investment like real estate or gold

[Cinemo]

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 not at all. cause government is controlling the price so they hold it in their hands so have a full control with price so we are nothing to do to wait them to pump or dump it. we  can not assure that government will become true to us all the time so why we should trust in coin that made by government. think about it. they are more tokens and coins that non government made. so why we should settle for less right someday we will find out

[magneto]

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, why anyone would choose to use a centralized, government issued cryptocurrency over a decentralized, community based crypto like bitcoin is completely beyond me. I would say that 90% of the community here would agree with me on this.

If a government did decide that they wanted to issue a crypto of their own, they will certainly retain all the necessary controls over this currency economically, just like they do with fiat currency as they are able to manipulate whatever aspect of it they like.

What's the point of using a centralized crypto? I don't get it. It's literally the same as what fiat is right now, except on a blockchain.

[tongkatakai]

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?

in many countries today is still largely considered bitcoin is an illegal transaction. It is not impossible that they will come to legalize bitcoin because everyone is wearing it. The government of course does not make bitcoin as their currency but as an investment tool only

[emanjun]

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 would get attention but only for their countrymen, maybe there are people who would notice it but only few. The coin would be made by our own will surely supported by the people living in this country.

[torch2121]

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.

[@prashant]

Why not ,if profitable then everyone will go for but it will be difficult for crypto whale to manipulate it fully as more stock tycoon will also indulge them in this . Major country will not do it full decentralized they might add some restrictions to it and take it as tax income for government expensive.small country might do it as decentralized fashion but for now we are not seeing that much hype around it as some of them have issued their crypto currency.

[leea-1334]

Well, the only reason I would go for it is for pure speculative power. It is the same reason I bought a few tokens like Ripple and Verge, issued by entities I know will manipulate the price. Go in for the profits, leave before they ruin the project. Yes, that means I will never hold those tokens, but it does not mean I will not buy them to make short term profits.

[CryptoEnthused]

Never. Government should not control our money. That's why crypto was created in the first place. I don't see the point in returning back to centralization