Central bank coins vs crypto space coins

[stephanirain]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

Cryptocurrencies made by central banks are more likely to be easily be manipulated to favor their business over market. They might as well make amends with the government for favorable regulations. They will also more likely to be stable coins. The blockchain technology can revolutionize the market but it can also be used to make only some capitalist businesses take more control over the market. Hopefully, things can work out and they can be fair with their clients.

[target]

Yes, regulation similar to cash currency will also apply to it. However, it wil become very transparent to the government and they will be able to monitor every single transaction that happens using e-currency. So the scope of cryptos are not reducing. People who wants to use cryptos as a currency or as an investment, will continue to do so!

I guess this still going to be used for surveillance and we will have to submit our data when we are going to be using it.  There wouldn't be a choice though if your country will start to impose a new law for this digital currency to effectively be accepted by merchants and to people.

There might not be a chance for those who hasn't yet submit to KYC for the first time to exchange to hide. If they own a digital currency issues by central bank and then bought BTC on exchange he will be then traced.

[mobilestrike]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

My observations are saying that these coins will be backed on their state currency so the question of stability skips here because it will have the same fluctuation in price as in the states local currencies which rely on the economy of the state. Then it is right that many people will have trust on it and will not worry to put their money in them but for decentralization and for profit from the price they will also not leave the coins of crypto space. Regulations may come after this in the favor of central bank coins but due to decentralization of crypto space coin people will also not have any problem in adopting the current cryptocurrencies.

[Febo]

Yes, regulation similar to cash currency will also apply to it. However, it wil become very transparent to the government and they will be able to monitor every single transaction that happens using e-currency. So the scope of cryptos are not reducing. People who wants to use cryptos as a currency or as an investment, will continue to do so!

I guess this still going to be used for surveillance and we will have to submit our data when we are going to be using it.  There wouldn't be a choice though if your country will start to impose a new law for this digital currency to effectively be accepted by merchants and to people.

There might not be a chance for those who hasn't yet submit to KYC for the first time to exchange to hide. If they own a digital currency issues by central bank and then bought BTC on exchange he will be then traced.

Any transparent ledger coin is a surveillance coin. And all of them are wet dreams of George Orwell 1984 novel. We gave up a lot of privacy in last 50 years. I am surprised people plan to give even more.  Although we all read what that will bring us.

[Argoo]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

My observations are saying that these coins will be backed on their state currency so the question of stability skips here because it will have the same fluctuation in price as in the states local currencies which rely on the economy of the state. Then it is right that many people will have trust on it and will not worry to put their money in them but for decentralization and for profit from the price they will also not leave the coins of crypto space. Regulations may come after this in the favor of central bank coins but due to decentralization of crypto space coin people will also not have any problem in adopting the current cryptocurrencies.

That's right, own coins of various states will be issued in the form of stable coins. It will be just their ordinary money digitized. Therefore, their price will always correspond to the price of their domestic money. In the future, various combinations of stable money among themselves are also possible. Of course, they will not bring profit, but will be used primarily as a means of payment.

[jacafbiz]

I am not surprise by the interest and the level of development of Stable coins by Central Banks, when you heard what Largade said about stable coins recently I believe they see it as a big threat to their system and power. We need to wait any see how the development of their own coin is going to be, but I have a feeling this could be the end of some failed national currencies because barrier to access most of their strong currencies would have been removed

[bittraffic]

I hope the exchanges will pair these central bank coins though this will make it easy for anyone even a student can invest in crypto with just a phone with them.  We will be using this central coins everyday but we can also shift from central bank coin to crypto any time just like trading. There is a big difference between the two but central bank coins will help the adoption of crypto since its all digital.

[jameshugo17]

Central banks can transfer money via blockchain. But what if they build a blockchain-bound order? I don't think it's good for states. What about mining? These aspects don't make much sense. I think the states will be facing this market for a long time.

[ashmodeus]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.
1. These new Central Bank coins are they going to be stable coins or not?

i dunno , as long it can be controlled by them, its fine for them,because the point is totaly being controled.

2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?

well , it depend, depend about their regulations of that assets,i am sure,if that become true,its not make too much effect on crypto space,its not freedom u know,its centralized.

3. Maybe people will just use them as a plus since it's from the government?

Maybe people avoid it because it's from goverment.

4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

i have no idea.

[boris singer]

the government only makes one stable and controlled coin, this will not affect other coins, except for each coin that is filtered to enter a centralized crypto ecosystem that obeys some rules such as coins in Binance and Huobi US. I think their goal is not just for this, but how coins can be used as digital money and crypto money in the same economic path. Will not influence each other because it is only as a pair of trading and payment.

[Johnyz]

If they created a fair coin that can benefit more its people, then I will support it but if the central bank still controls the financial system when there’s no freedom at all, then it will be hard to support it. Cryptocurrency alone is better and faster banks should understand this one and instead of creating a new coin better to support bitcoin.

[Teraboy]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

My observations are saying that these coins will be backed on their state currency so the question of stability skips here because it will have the same fluctuation in price as in the states local currencies which rely on the economy of the state. Then it is right that many people will have trust on it and will not worry to put their money in them but for decentralization and for profit from the price they will also not leave the coins of crypto space. Regulations may come after this in the favor of central bank coins but due to decentralization of crypto space coin people will also not have any problem in adopting the current cryptocurrencies.

That's right, own coins of various states will be issued in the form of stable coins. It will be just their ordinary money digitized. Therefore, their price will always correspond to the price of their domestic money. In the future, various combinations of stable money among themselves are also possible. Of course, they will not bring profit, but will be used primarily as a means of payment.

let's just take a look at how some online payment gateways just like VISA and MS have already used by some DeFi in the crypto to be integrated on it to create a payment gateway for the crypto users. that is really possible to happen with those digitized fiat money too. The developers don't need to think even more difficult about how to deal with the fiat money in the best way as the government will make it becomes digitized.
Crypto will get so many advantage in the future as that make money can be connected to the crypto easily.

[Bttzed03]

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?

They will be stable coins that's backed by each central banks national currency. From what I know so far, they won't be traded on exchanges. They will have a spefic use case and will not be subject for speculations unlike crypto coins with open blockchains (btc, eth, ltc, etc.) so do not expect to profit from them.

So the coins will indeed be stable and cannot be traded on the exchange? is that true, it means there is no partner to btc, eth etc.
Maybe central bank coins will be used only for transactions or used in applications that they apply in their region, but I don't know which bank has set up their own coins.

Here's an example of a bank issued stable coin https://www.bworldonline.com/unionbank-launches-stablecoin-phx-for-use-on-its-blockchain-platform/
It's not a central bank but you can already see how these centralized coins will be used exclusively.

[hello_good_sir]

I've been following the trend news of central banks creating their own digital currencies but a question have since then troubling my mind.

1. These new Central Bank coins are they going to be stable coins or not?
2. What will happen if they are not stable coins? If holding them will be profitable many will leave crypto space and focus on these new coins?
3. Maybe people will just use them as a plus since it's from the government?
4. Will regulations still come after this? I think other coins will be neglected and regulations will only be for coins from government?

1. Absolutely. Their values will likely be pegged to the fiat currency of the country that issues it, there is no way around it. Otherwise, they wouldn't issue the coin in the first place.
2. Firstly, they won't be anything but stablecoins. But if they were to be somehow unpegged from fiats it would still not be worthwhile to dabble in these coins because they provide no extra value.
3. Perhaps the mainstream, probably not actual crypto users.
4. Yes, absolutely. But it will likely be in the form of restrictions rather than regulations.

[yulionoo]

of course these central bank coins will become stable and fully controlled coins by the government. and these central bank coins will not be included in the exchange. but until now I have not heard and seen a country that has officially made its own crypto and released it. So far we have only heard the issue of making crypto but in reality there is still no government-made crypto that has really circulated in the community. if friends already know about crypto bank that has been released, share information.

[JeotQ]

Government will always find a way to strip people naked of their money for their own gain, i think we will see huge manipulation from the government, to say the truth i really don't want their involvement at all but since crypto space needs regulations badly nothing can be done about it

[jossiel]

4. It will be used by the central banks so regulation will be of no question. Regulation will occur not just for this kind of coins but it will be for the whole crypto regulated by that country. Remember that regulation depends on the country you're living.

If there's no regulation, then it will be the centralized coins made by the government which will be regulated and the rest will follow.

[leea-1334]

I guess this still going to be used for surveillance and we will have to submit our data when we are going to be using it.  There wouldn't be a choice though if your country will start to impose a new law for this digital currency to effectively be accepted by merchants and to people.

There might not be a chance for those who hasn't yet submit to KYC for the first time to exchange to hide. If they own a digital currency issues by central bank and then bought BTC on exchange he will be then traced.

There will always be a choice. Yes,,, you may have to be forced to submit information, but now with new privacy laws you can also request the government to delete your information. this is only applicable to European laws now, but one day it may also apply universally. I have nothing to hide and so I usually will give my KYC info if I really need the site,,, but if it comes to a site I do not need, I will seldom ever give anything.

[romanij]

These coins will be a common substitute for fiat money and they will be under the control of the States. Of course, this will have its advantages, since we will be able to make money transfers between countries without difficulties. But there is no question of decentralization. She won't be here. Most likely, some cryptocurrencies will disappear after the appearance of national cryptocurrencies.

[bdivrik]

The central bank is the most important actors in the economy. The power to print money is in their hands. I think central banks are very cautious towards this sector. Because an innovation they can initiate may cause them to lose power.