Country backed coins, a good idea?

[fernandoaleixo]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

[eddie13]

It will be a good idea for the governments but not so great for us..
They will be able to manipulate them as they please just as the current fiat currencies are and be able to track you even more than before..

[Larry Close]

That is great if it happens. We will not need cash to buy anything.

[bL4nkcode]

No, they're the only one who will benefit at all. Manipulation of the price will be at peak and a centralized cryptocurrency? No, this will break the whole concept of cryptocurrency. Look at what had happened Petro token of Venezuela's government. Its an example of how a corrupt government of some countries took advantage of their powers when dealing with their so-called own-made crypto/token.

[Meysa_richa]

It seems that it is not good if I think, because we know that crypto coin can not be controlled by anyone or government.

[forumsehat]

If there is a coin that will be supported by the country I think it is good also for the development of the world of crypto.

[TranTrongit]

That is not good for our investors.  that only benefits the government of that country.  It was a bad idea

[pocket_lck]

I think it's a very good idea if the state or government uses Blockchain technology to create their own coin, and yet I think the country's coin must also be under a bitcoin platform

[pooya87]

will there be such coins? yes, this has already started and some countries have even released their own coin and so many others are thinking about it.
is it a good idea? it is hard to say. there is a lot of benefits in a cryptocurrency and it can be very useful but it is a little strange to see the centralized version of a technology that was created to be decentralized. i guess we first will see coins in some countries such as Venezuela, India,... as a testing ground and then if it were successful the others will follow. 2018-2019 will be very interesting years for that matter.

[Juggy777]

No it'll be fiat packed in a new form there'll be nothing new except it'll be slow and sluggish won't give you returns but will take your money away, plus make you pay taxes. I don't understand what good is such a coin going to be but I feel government should not spend money on this. They should spend on development and all. This is a big no from the view point of public, spending public money on useless project.

[bhadz]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

There's one already the "Petro Coin" a coin from Venezuela.
I would invest if these big countries will make their own coins but I doubt that they would do. They are against to crypto's so why would they create one?
Another thing is this is not the section for this topic, move it to altcoin.

[abelmon66]

This may not be good if a crypto coin is in control, but if it aims to capitalize on the development of crypto in the country and benefit from the development of Blockchain technology.

[Snaic]

Some countries have already released their centralized digital coins, some said that they will be released soon. We still have no way to influence this process. We can only observe from the side. If we are confident in the advantages and viability of decentralized coins, then we have nothing to fear. Such competition with centralized coins will only benefit them.

[LTU_btc]

I agree with mostly people here who are sceptical about country backed coins. Why we would need centralized crypto? Governments would have full control of it and I wouldn't be surprised if they would try to make manipulations of price. I think that such coins just would be not worth to invest. And not so many countries are currently interested to release their own cryptocurrencies.

[Pursuer]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

I still don't understand why some governments or even big corporations would want to create such coins but they are doing it anyways so to answer your first question, yes we will see many coins like that which are created by the governments and are backed by some real assets like Petro which is backed by oil.
these are still going to be centralized coins though and there is not much of a difference between them and the fiat that the governments are already issuing except the fact that it may be a little bit more transparent about the supply and circulation of the coins.

[Crypto one]

The central banks and all the government agencies, will love to be able to see where there coins are at any given moment. Most money in the western world are already digital, so the move will not be that big, if they go to block chain.

[stompix]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

There's one already the "Petro Coin" a coin from Venezuela.
I would invest if these big countries will make their own coins but I doubt that they would do. They are against to crypto's so why would they create one?
Another thing is this is not the section for this topic, move it to altcoin.

Invest in what?
All the coins that are going to be created by a country are going to have their values pegged to their national currency.
What stops you know for getting rupiahs and when they launch the coins the value will soar...right?

I still don't understand why some governments or even big corporations would want to create such coins but they are doing it anyways so to answer your first question, yes we will see many coins like that which are created by the governments and are backed by some real assets like Petro which is backed by oil.

Propaganda, cheap funds from morons, ways to distract the public from their problems.
And now honestly, you don't believe that whole "backed by oil" carp from Maduro, do you?  

[thom88]

No not at all. We are all here because we don't want FIAT. Making a FIAT crypto makes no sense at all

[ManaMan]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

Honestly I do think such "coins" will exist in the future. Theres no doubt in that. As we are seeing high rise in electronic payments and with governments learning about cryptocurrency and blockchain it wouldn't surprise me if we see such thing. However then mostly these will be centralized, or at least there will be some part of centralization put in place. I might use them I wouldn't say I won't, but I don't look at supporting them.

[audaciousbeing]

What do you guys think in a near future there gonna be coins like "Bit-America" or "Canada-coin", backed up by public assets, would that be a good idea

Eventually, this is what will happen because as the worlds moves away from paper kind of money, the government will move with as well or else they produce money that no one will use and at the same time they are bringing out policies that would aid a cashless economy which digital currencies supports this objective as well. What would make it different from the crypto we have is because this one would then be controlled by government, the acceptance would be wide because of the legal backing they would give to it, there would be massive deployment of training and in other to increase its penetration in the economy.

Other than the above, it would still be not different from our individual country's currency that is not acceptable outside the border but this would then create a new market just like the foreign exchange market where currencies are traded. It is in this market that the bitcoin and other crypto currencies that would survive till then would have their day.