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

[Janation]

Imagine that some respectable country would go far beyond legalizing cryptocurrency and start one of its own.

There are some countries that legalized Digital Currencies and I don't think that is a "far beyond" to what we are doing now. If a country made their own crypto currency, I don't think that it will be as popular as we all know people are thinking that government are snooping to our transactions.

It would surely be no scam and it would probably have a strong support

I don't think so. As I said earlier, people might think that the government are tracking our transactions.

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

I don't know about that since most of the digital currency on the circulation has the feature of decentralization and volatility, since a government will be starting their own, they will be trying to control it taking away the decentralization and volatility of that certain digital currency.

[Notcalculator]

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 depends on which government issued it and its motive on issuing it in the first place.
One drawback i could think of is that coins issued by the government is most likely politically driven. Meaning, its aim isnt to offer a decentralized solution, but maybe it's just more ways getting away with corruption.

[Vannie12]

Once a modeeator asked if we needed ur own coin here in the country, I may have thought about the answer and I think I would say no.
I think to keep it solely in bitcoins and few altcoins is enough to make the Cryptos be a part of the future.

I think the creation of new coins will increase risk of scam. Anonymity will still make it hard for people to trust new coins ahead.

[Anarchist]

One of the ideologies of the cryptocurrency concept is to get back the control of your money without any bank or govt. (and using cryptographic protocol)
It's not using a secure protocol to help the institutions to have more control over you

[veejay2716]

It depends upon the coin on how it gonna be accepted by crypto market and the government would really allowed and protect this from scammers.

[TravelMug]

It depends upon the coin on how it gonna be accepted by crypto market and the government would really allowed and protect this from scammers.

So it would be centralize then?

However, just for the sake of testing it? then why not? I will give it a try and see how this crypto will do. But if I see that it will eventually go to drain because no the population didn't give its support then I might go and exit early. We don't know if it will be successful or not, but it is much better to jump on the bandwagon early and get as much profit if you can. 

As far as anonymity though, if it is back by the government then for sure they can scrutinize it anytime without you even knowing it so there is also a risk in your end.

[DiabolicAnt]

Yeah, why not? Especially if it will be a coin from a country with stable and developing economy!

[jblittle00]

I have to agree with some of the comments here, that I would be adverse to purchasing a crypto-currency from a specific country. Although I believe it's the direction we're headed towards anyway, because governments will eventually "join'em" if they can't "beat'm", it pretty much defeats the purpose of a government-free, bank-free, Facebook-free economy. Imagine who you'd possible want to buy a coin from? The U.S.? Russia? The Middle East. I wouldn't trust it or want it.

[faceoff97]

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?

Why not, It will surely have a good value and stable price. It might also reach bitcoin price easily. Having coin from government also will help people to easily accept the technology about it. Cryptosystem will also be popular and would make big effect on other coins. Possibly all coins would also increase its demand and become very popular.

[squatz1]

It really depends on the coin itself, the government backing it, and if it is actually being used by the people. Because lets just say that the US government replaced the US dollar with a US cryptocurrency dollar, then yes I'm most likely going to use that coin without a fuss at all (given that the coin itself is as accepted as USD and there is no problems with it) So yes, in that case I would go for it.

If we're talking some random country that isn't going to help me at all, then no I'm not going to get involved with that.

[BitProNews]

It really depends on the coin itself, the government backing it, and if it is actually being used by the people. Because lets just say that the US government replaced the US dollar with a US cryptocurrency dollar, then yes I'm most likely going to use that coin without a fuss at all (given that the coin itself is as accepted as USD and there is no problems with it) So yes, in that case I would go for it.

If we're talking some random country that isn't going to help me at all, then no I'm not going to get involved with that.

It's barely inapropriate to make the comparison between usa and other "random countries" and between btc and usd; bear in mind that all governments (banks behind) are sheeting us by the actual financial system even it looks strict and useful but imagine how much usa print paper dollars to finance its policies and how this effect every single earning in the planet (mondial inflation) so all the governments are sheeters and this is why born bitcoin and cryptos!!
No comparison at all between btc and usd because no one of them can replace the other. 1 Btc should cost more than 100m$ if you are willing only to replace the circulating dollars, and dollars besides can't be the solution as it was the problem since ever.

[zergenyt09]

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.

If this case is put aside, and we consider any other thing element related to our life if issued by our government for the sake of our benefit, I think we must be going for that. Reason is, there should be some profit hidden in that for us that must be carved out and get benefited. Plus there would be safe and secure way of doing that, legalization. Same is the case with coin and we must go for that.

[Tyronthegreat]

 

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

Probably yes. Look, nowadays there are many scam ICO and if not a scam the project is not able to succeed. That is if time will come that the government is the one that is promoting an ICO, such project is surely a promising that will easily attract the investors. I am also convinced that the investors will not hesitate to participate because they know that the project will surely succeed.

[Serco]

To speak the economy, it is possible to fiat the country's currency will lose money because bitcoin currency does not have taxes, on the contrary the country's currency has taxes and capital for the manufacture of currency. If bitcoins are legal in the country, we may be able to use coins to transact and shop, but this is a debate and it takes time to make it happen just like arranging the concept of payment and bitcoin sales in the country. You can see the Chinese country, they try to make digital money but the country gets access to control the digital money, but they are still thinking of ways how to access digital currency and how to control it.

[timerland]

It depends on which government issued it and its motive on issuing it in the first place.

That could be something - however, it's safe to assume that all government issued crypto is going to be centralized, and the controls are essentially still handed to them. There is absolutely no change. If they want to actually let their citizens use a decentralized crypto, they would have done so with existing cryptos like Bitcoin.

For me, as I said, I would avoid centralized cryptocurrencies entirely, regardless of which country issues them. They simply aren't backed by anything, even if they claim to (cough cough *Petro*), since there is absolutely no guarantee they are going to redeem their promises.

One drawback i could think of is that coins issued by the government is most likely politically driven. Meaning, its aim isnt to offer a decentralized solution, but maybe it's just more ways getting away with corruption.

Anything relating to issuing one's own currency, on any platform, is politically driven. Just like Venezuela's crypto-fiat. Not sure how it could help corruption, though.

[plescruslo]

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.

If there is decentralized cryptocurrency in the market available for investment I will never support a centralized crypto because the profit margin will be less than decentralized coin. It is good for only those who country issue their own cryptocurrency because they will trust the most because of the government controlled crypto, but generally it is not good.

[libertyaim]

As they said, I think it defeats the purpose of cryptocurrency. It is necessary to ask why they would want to implement it, based on which project or with what intent.

[hygroscopicgymnasium3]

I think i will use it ofcourse if it is developed in my own country only.

[Sled]

I would go for it because that means that the government are engaging their attention to cryptocurrencies and it might a good opportunity to make a lot of money because they will developed that cryptocurrency for the better in the future and if you know the buy low sell high then you know that it is best to buy their cryptocurrency while they a are cheap and in the ico and sell when they are at the top.

[maxreish]

Better if  the government released  their own coin 100%  not goofy, but if government released their own coin for sure with a small value compared to other coins like bitcoin etc, and also sure that you will be less tax, how ever i would go even the government less a tax for it and even the coin have a smaller value compared to others.