Coin War: Can A Country Officially Back Bitcoin?

[Sam San]

Let's clear things up: back in this context means support. I don't see any country backing Bitcoin because there's no way to control it anyway. Some people love throwing in China numbers, but a quick research would tell you that taking control is far more complicated than that.

Ripple could absolutely be backed though, considering they're a central entity. This article is a reach though lmfao. It just assumes that China is in control of Bitcoin and that the US can counteract that by supporting Ripple. Garbage lmao.

if the coins go under the control of any of the countries, it will not create military actions to promote the coins, but will lead to their rejection by the society using cryptocurrencies. any control kills the coin, decentralization is the way to success.

[elastiman]

Sure this is going to happen sooner or later but ex-socialist countries like China and Russia are having problems transitioning into new markets and new technologies and always look west with distrust. Although Estonia seems to be the exception since is the first country backing and accepting widely Bitcoins and the United States is the second and Denmark the third according to the top 10 of bitcoin.com. https://news.bitcoin.com/worlds-top-10-bitcoin-friendly-countries/

[Kakmakr]

Ripple are having some wild pipe dreams with these statements. They will do anything to grab people's attention and as seen before, partner with anyone, just to survive. <They were also one of the first Alt coins to partner up with Banks> 

So they are now bending over and asking for some attention from the US government. 

Governments do not have to use Alt coins, to achieve their goals, they control fiat currencies and that gives them control over fiat conversion from Crypto. 

[virasog]

If Ripple is openly spoken about by the representative of one particular country (no matter the USA or not), it can cause damage to this coin.Saying such things, many investors are afraid to invest in this cryptocurrency because of its rigid centralization.Bitcoin, unlike Ripple, is decentralized and more scalable. Even not paying attention to the fact that about 70% of bitcoins are mined in China. I think this will not constitute a threat to the existence of this cryptocurrency.And China, respectively, will not get involved in the fight with the United States because of cryptocurrency.

This is really not good and these tactics should not be applied in order to gain the more popularity for the coins. Anyways Ripple is always been considered as a banking coin which banks are willing to use. Anyways in the long run only the decentralized coins with a good project will succeed.

[NickVick]

I think that no government wants to pay back the bitcoin, they will surely make their e-money, not the money, but the good thing is that they can adjust their e-money just like what they do. The Japanese government has done right now, a very good move as e-money means self-management and Japan is the first to implement it.

[willwin66]

No country can officially return Bitcoin at this time. Many individuals do not even know what is called Bitcoin at present and there are many Bitcoin viewers like Ponzi scheme due to lack of proper understanding of Bitcoin because of this lack of direction no country can return bitcoin And last but not least, the United States will fight against any nation that claims it as an official currency unless the SEC and Masses are willing to accept it as a means of financial transactions.

[Pan Troglodytes]

If Ripple is openly spoken about by the representative of one particular country (no matter the USA or not), it can cause damage to this coin.Saying such things, many investors are afraid to invest in this cryptocurrency because of its rigid centralization.Bitcoin, unlike Ripple, is decentralized and more scalable. Even not paying attention to the fact that about 70% of bitcoins are mined in China. I think this will not constitute a threat to the existence of this cryptocurrency.And China, respectively, will not get involved in the fight with the United States because of cryptocurrency.

This is really not good and these tactics should not be applied in order to gain the more popularity for the coins. Anyways Ripple is always been considered as a banking coin which banks are willing to use. Anyways in the long run only the decentralized coins with a good project will succeed.

Isn't bitcoin officially backed in Japan, as official secondary state currency? I mean, secondary, because next to their yen (JPY).

[kamBlanV]

bitcoin and XRP are big coins, bitcoin is older and longer, and XRP has large backups, banks behind XRP.

I thought that XRP had to beat ETH before it was competing with Bitcoin, when XRP was controlled by the USA, and bitcoin by China, the effect was very big on the world of economy.