Country backed coins, a good idea?

[setialovers]

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

That will a great news for cryptocurrency community. If that happen, cryptocurrency will be more attractive and market will have a fresh blood to move because government already involve

[cryptopranto]

It'll be like block chain based fiat currency . Which we're trying to avkid by using Bitcoin. Because we don't like to use fiat. that's why we're using crypto rather than fiat . If we starting to use those country based currency even in blockchain.The crypto revolution will loose it's first rules

[Tylev]

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

If the states start issuing their own digital coins, it will be the same as with the El Petro coin in Venezuela. In any case, some countries will issue such coins, some will reinforce them, others will not. We still have to see this and see what this will bring to people and the state in practice. In any case, such experience is necessary for humanity and we will use it. In any case, if centralized coins of individual states appear, it will not be worse for anyone. If for people such coins will not be of any interest, they simply will not use them. However, for the whole of the crypto currency, this will be good in any case. Any use of crypto-currency at the state level will benefit the Crypto-currency.

[sabihanazir]

I think this is not a good idea especially for crypto community and existing coins.  It is only good for the government but not so good for cryptocurrency. So it is bad idea.

[2018hodelmabanal]

I don't think this is a good idea. If the coin is controlled by the state, it goes against the centralization of the block chain technology, which is the core value of a coin.

[satana_igor666]

And what then will be the difference between bitcoin and fiat, if crypto money will bear the names of the state.  I believe that the crypto currency must be independent of all countries so that no one can manipulate it.

[tunapa]

I think this is a good idea, but it will be too regulated and might turn out to be centralized. But generally, govt can back crypto or any coin existing that meets their criteria and have god realized life use cases. This I think will be better.

[PeRo]

It would be just digitalizing fiat currencies, it would break everything a cryptocurrency stands by - like decentralization and anonymity. I doubt anyone would use that since we already have fiat, the goverment would control both so those coins wouldn't be anything special or innovative like Bitcoin is.

[gjtnwls1]

I think it is good idea. Normally, governments are against crypto, if they are planing to create country coin, those country could leading the new world.

[jhache]

The whole idea of cryptocurrencies is for it to be decentralized and introducing country specific coins will be against that same thing. And why would governments introduce a decentralized currency when they already have fiat currency which they have 100 percent control over.

[bitfocus]

why not? eventually, every country will go Crypto and Bitcoin will be a global reserve system
https://www.bitcoinmarketinsider.com/bitcoin-will-become-the-global-reserve-asset/

[abonti]

I think this is not good idea especially for crypto community and existing coins. because it is only good for the government but not so good for cryptocurrency so it is bed idea.

[toast]

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 am sure that one day advanced countries will make the currency move with the financial system that can be controlled by the government in that country

[jmlona]

That would basically almost be similar to what we currently have with fiat currency but instead it would be backed in cryptocurrency. I personally do not think it would be a good idea because one of the main reasons for cryptocurrency is for their to be a decentralized economy and if each country has their own coin then those governments could regulate it to their liking and we would still be back to having separated currency.

[supermine]

That would basically almost be similar to what we currently have with fiat currency but instead it would be backed in cryptocurrency. I personally do not think it would be a good idea because one of the main reasons for cryptocurrency is for their to be a decentralized economy and if each country has their own coin then those governments could regulate it to their liking and we would still be back to having separated currency.

Yes,crypto currency have to be centralized if it was created and backed up by something then it is same as the fiat money system and it won't bring any changes apart from the current system.So it is not a good idea though for us because we will not get any additional benefit from using those centralized currency.And there are some countries already started to think about the crypto currency for their own but still no country created I think.

[vnck25]

As mentioned earlier, if governments comes in an introduce their own currencies then the whole decentralization that is valued  by the community falls apart! We will be back at square one! The only difference would be now the governments will have their own blockchian. And some how they will control the system, the currency as well. So my opinion is countries or their respective governments coming up with their is just a wasting time!

[Powerpuff]

Soon, many countries will have their own digital currencies. That’s partly because they’re all trying to do away with paper money—a very unfortunate trend. Cash gives you a lot of privacy and flexibility. Governments hate it because it facilitates tax evasion. They’d rather everyone use digital currency, where there’s zero privacy, and they have instant access to everything you own.

[kasurnya]

I think this is not very interesting, if a country creates their own coins, of course they will apply strict rules under it. There will be no decentralization, no tax free, only coins created for personal gain, with the frills of the people's welfare.

[Asimmo]

How can crypto and government co exist in the same phase?
I can`t imagine coin developed and operated by government..
Would consider it as an Apocalypse.

[darmin]

a good thing because it will certainly make crypto increasingly has its place in various countries. Surely this would be a great change in the value of the crypto will make its value higher. even this course would also be a good thing for other cryptos as bitcoin who will also be raised in value.