What do you think about crypto currency issued by the government?

[South Park]

Crypto released by the government is the instrument of control. I do not like that idea.

And yet we know it is going to happen, because more than anything governments want control, they want to control the economy, they want to control their population and they want to control the money that population uses, so regardless of whether or not you like the idea they are going to do it and when that happens you must avoid that cryptocurrency.

[dupee419]

they make crypto currencies themselves because they want to have control over their currencies. this is contrary to decentralized crypto currencies. although I think they will have difficulties regarding the anonymity of their users.

Well I guess they should provide a crypto that would extremely be reliable, they are likely to establish a coin that is CENTRALIZED and because of this people would rather use other coins rather than choose a centralized coin that would pronably rot if it isn't handled with proper care, I think that a government that should do this are governments that are highly knowledged and are probably good with handling their coin, a country wherein the government is knowledged enough about crypto and how it works in order for people to probably pick that certain type of coin even if its CENTRALIZED.

[maligu]

The government may be preparing, but it will not necessarily issue its own cryptocurrency. If the government issues its own cryptocurrency, the price of bitcoin will rise again. This is the recognition of the cryptocurrency market, the future financial industry and the blockchain.

[Dudeperfect]

To be honest, it doesn't make any sense as it kills the core essence of cryptocurrencies which is decentralization. It's similar to put someone in the large prison and calling it freedom while holding the keys of that prison. When any government is launching any cryptocurrency, it must pass the control of it to the users instead of holding and controlling it. I would say that government-controlled cryptocurrencies are as good as fiat currencies and nothing more than that system.

[Periodik]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

These cryptos are nothing but fiat converted into cryptocurrencies. In other words, these government-issued coins are still owned and managed by the government. It cannot claim freedom and independence. Cryptocurrencies are a way for people to have a mode of payment that is completely free and owned by the people themselves, independent of any government or bank.

[MahalQu2612]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

Most crypto are decentralized, so if you heard there is a crypto made by the government this is obviously and clear that this is not decentralize instead centralized, it is because of the regulated system it has comes from the government itself. And frankly to say I also cannot consider it as crypto too because it is regulated business system. But this is just my opinion base on my understanding about it.

[shadyrifles]

If the government issue their own official cryptocurrency then it is more likely to be centralized digital currency based on the blockchain, unlike decentralized cryptocurrencies.
Almost every country is in favor to adopt blockchain technology in their current financial and banking system but many of them are against the expansion of cryptocurrencies.

[jademaxxiss012]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

There is no difference witht this crypto tp other because its nature is decentralized. I bet that would be a good idea to create a crypto for each government who wish to have a cryprocurrency dedicated for the government. Yet, a lot of talks about it because there will have a conflict especially to US dollars where one country could bypass and buy more dollars using the crypto in exchange and for this USA does not want to happen. When their dollar suplly will be lessen and transfer to other country there will be possibility that US government will collapse.

[Indamuck]

It wouldn't be a true cryptocurrency if it was backed by a government because they would have the power to set inflation and seize coins if they wanted.  Maybe it could work if it was truly decentralized and you were in complete control of your funds but I'm still skeptical.  Why use government currency when we have money backed by the people.

[Indai24]

It wouldn't be a true cryptocurrency if it was backed by a government because they would have the power to set inflation and seize coins if they wanted.  Maybe it could work if it was truly decentralized and you were in complete control of your funds but I'm still skeptical.  Why use government currency when we have money backed by the people.

Government crypto currency doesn't exist and will never be exist, they don't support crypto and that there's no way for them to like it as well.

[ClockworkTrader]

That will not be Cryptocurrency anymore, the government will find the way to increase the level of control over the Crypto they develop and issue.
Say goodbye to anonymity, I imagine KYC procedure would be necessary to enter government Crypto.

Conspiracy theory mode on: what if some government will secretly sponsor and promote a blockchain start-up to create a coin covertly controlled by this government?

[Matthewmorris4]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

I think this kind of thing can later become a double-edged sword for the country, because the potential of this speculative and turbulent crypto can be bad if it is already related to state assets. besides having to maintain reputation, what is feared is if a country invests it then does not get any profit

[South Park]

The government may be preparing, but it will not necessarily issue its own cryptocurrency. If the government issues its own cryptocurrency, the price of bitcoin will rise again. This is the recognition of the cryptocurrency market, the future financial industry and the blockchain.

If the government issues its own cryptocurrency that doesn't mean that they're going to approve decentralized cryptocurrencies, it is the opposite, they will create a currency that is going to compete against the cryptocurrencies that have no ties to governments and they are going to promote their own currencies as being way better than what the community has created.

[gamalzour]

Its to trust cryptocurrency that are release by government. Becaise we all know that many government are corrupt. If they release a cryptos it means that they have the full control of it. And that not a good thing foe me.

Same thing I have been thinking all this while🤔 the government is bad, that’s why I hate it when some people are saying they want government to take over cryptocurrency, it pisses me off a lot, like seriously. Why would people be wishing the government takes over cryptocurrency, while they already know how bad the government can be. Cryptocurrency is a where to freedom, to give people control over their money. But when the government takes over, that freedom will no longer be there.

[ufaiz50]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

In my opinion it is good news, so if from various countries try to make crypto currencies themselves automatically they also adopt blockchain technology and with crypto news there will definitely be mass adoption and crypto trust rates are increasing because many ordinary people consider bitcoin to be used for crime act. Then I think with the government wanting to make crypto, there must be regulations implemented and the regulation depends on the government, so if the government in your country is bad, I'm sure the regulations that will be implemented will greatly burden users.

[warcarft3]

This is the path of cryptocurrency development. In the future, many coins will disappear in addition to Bitcoin. When the government issues coins, the impact on cryptocurrency is huge. Perhaps this time bitcoin prices will return to $3,000.

[aizen10]

If that happen, that the government issued their own crypto currency, that is sure it will centralized , that they have their own power to control all the price value of it in the market which is not crypto currency is. This will sure an obvious anomaly.

[tradjecide]

It is said that central banks plan to release their own curypto currency in some countries,for example Japan..
 
How do you think about these crypto?

I don’t think the government will do such a thing, maybe they will produce cryptocurrency dollars, but we are not sure of that yet. Not everyone is ready to be making use of cryptocurrency as a way of making transactions. I have heard a lot of people talk about Sweden, but I’m yet to understand what they mean, is it that Sweden is making use Bitcoin or they are just going tech?

Well I think this central banking would lead bitcoin again to centralization of money. Notwithstanding the decentralized nature, bitcoin would become a game of few hands later.

[squog]

I think crypto currency issued by the government and is backed by the government would be calling the same animal a different name. It would still work like a fiat and they could control it but still disguised as decentralized crypto currency. They would either ban any other crypto currency adoption in their country or tax other crypto currencies higher.

[stoxalpha]

Those are not real crypto-currencies. Those are just digital versions of the fiat currency, similar to Paypal or Skrill. A crypto-currency should be decentralized. It can't be issued by any central bank.

But in fact, the government will use a centralized approach to managing cryptocurrencies. You see that XRP is now ranked second. All of its prices are so expensive because there are governments that support such coins. There are only a few coins that may be scattered in the future, and most of the coins are centralized.