what happened to Bitcoin and cryptocurrency?

[kevinzxz]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

[20kevin20]

Bitcoin doesn't need to "become" legal. It already is in a lot of states. When national digital currencies will pop up, I honestly believe people will first sell and go bearish on BTC for a while - until they realize what a mistake they've made by supporting national digital currencies.

It will become more obvious that Bitcoin is something we need when people'll start realizing we will have idiotic limits and rules with national digital currencies. It's going to be you under complete financial surveillance and control.

Bitcoin will always be necessary, no matter what the states are going to develop. Whatever a centralized governance is going to develop, be sure that it's going to be centralized as well. Bitcoin won't be, so it'll be the opposite of what governments will actually create.

[hd49728]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries

Governments can do that. If scammers can create their scam and shitcoins, governments can do the same.

The cryptocurrency is created and operated by governments will be centralized and I don't think they will spend any power for rigs or mining farms to run their chains. They will have some centers like what they have to manage fiat printing and central banks.

then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Bitcoin and non government cryptocurrency will survive. It can be always true in capitalized countries with two branches operate and survive along the way: governments and non governments. In countries with dictatorship I don't know but I believe they will survive together.

[Jawhead999]

It will affect little or not because they're nothing to do with Bitcoin.

A Country developed digital currency will be backed with their own currency (1:1) and it's centralized. They can burn, increase, and freeze the coin or do what they want. Pretty much like stable coin (e.g. USDT)

or even Bitcoin and cryptocurrency will become legal too?

Bitcoin and cryptocurrency are legal for most of countries [1] if you mean "legal" is adopted by government, it will be pretty hard since Bitcoin is decentralized and can't be 100% controlled.

[1] https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

[Furious 7]

Bitcoin and Cryptocurrency will still be more users, this is inevitable because this blockchain system originates from bitcoin, therefore what the government has developed by making digital money legalized, I think it can happen and will not affect the value of bitcoin on its users.

We know that before there was a lot of news about China making digital money with the blockchain system and being able to control other prices, I don't think it would happen that the country needs the adoption of fiat paper money if it only follows developments, it needs to be recognized and doesn't need to fight with bitcoin.

[yayayo]

If they ever do that do you think they would accept that their coin will be decentralized? Of course not also it will lead to fraud, money laundering and the likes I don't think the government will created their own blockchain and decentralized coin for their country.

ya.ya.yo!

[maxreish]

Time will come that those countries will make their own coin for their own country's good purpose. But that doesn't affect bitcoin's performance in any way. Can't you see, even they put up some laws and regulations regarding cryptocurrency, that doesn't prevent bitcoin from being famous and do it's main purpose as digital currency with blockchain use purposes.

And, if they make that future coin to be legal in their country, that would just serve as a challenge to bitcoin and other cryptocurrency.

[piebeyb]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

if America wants to make its own digital currency it's only for Americans, if China also wants to make its own digital currency it's only for Chinese people, but bitcoin and other cryptocurrencies for all countries and the whole world can do bitcoin transactions easily , bitcoin and cryptocurrency will remain as long as they continue to be used by everyone

[sharos]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

I think if they create new cryptocurrency, Then they will obviously list their cryptocurrency on exchange like Binance bitcoin trading pair. So, Bitcoin demand will increase for their new cryptocurrency.

[momchilandonov]

They cant really ban crypto, anyway. However, if they make it illigal, this will dump the industry so hard

[cryptoaddictchie]

They cant really ban crypto, anyway. However, if they make it illigal, this will dump the industry so hard

Actually they can, some countries already did banning crypto usage on their domain and sovereignity. Its not that even though it is decentralized it can never be touch. Russia an anti crypto country already set up some ground rules probably some countries too. I know a lot like cryptocurrency but we can never control some people for hating it. Yes blockchain has potential to used on various means and I can say its good but even so, industry price will depend on the market not by silly propaganda.

[masphie]

Survive ? i think yes if bitcoin and crypto legal in all country.
But, If we talk about prices, maybe we can see the exchange rate of dollars around the world.
If bitcoin or crypto legal, i think they same with dollars condition, they will always dump and pump.

[oktana]

It's not about these countries making their digital currencies. It's about decentralization. Would they make it decentralized like bitcoin? or still centralized like the banks? Either ways, I don't think they'll surpass bitcoin because bitcoin wasn't created by a country. When it's created by a country, adaptation can be a problem. Imagine if china created their own digital currency. You as an American or African, you may find it a bit odd as it isn't made by your country.

[Kez1817]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

All is depends on the acceptance of the people or let's say the demand. Even America or China make their own digital currency if people don't want to patronize it, the, it will not be like bitcoin. Also countries will never make a decentralize currency on which they don't have any control on it.

[Kupid002]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

It will, as long as many people doenst trust their own government Bitcoin will always there and will have their own demand from different countries that do not want to control by the government.

As long as government doesn't make Bitcoin as illegal asset every one will find away to invest in it , even they have their own digital money. But if they make it illegal then it will be different story and make it more difficult for other people to invest.

[Sterbens]

depends on crypto calculations and popularity made by the US and China. Then in terms of the percentage of each country, will each country other than China and the US will accept crypto easily, just as bitcoin has long been known. although there are some maybe 10% of countries also reject bitcoin.
It is quite difficult from the point of view of whether bitcoin will survive or not if digital currencies are born from these two countries.

However, it is possible, because new innovations always provide tantalizing choices. plus China and the US are the uncountable countries in the world. so that they would give something more and different if they were to actually create their own digital currency.

[slaman29]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Well, China is already making its own digital currency and even trialing it now in a few states (giving it away even in fact) so you'll get your wish in maybe two years if not even next year.

Nothing will happen to Bitcoin though. Remember, digital currency from a government is as centralized as fiat. Just digital.

[The Cryptovator]

Every government would create its own digital or cryptocurrency, but it will be their native cryptocurrency. It will support only by their nation, not globally. But Bitcoin supported by the global population. Doesn't matter if the government doesn't want to allow the use of Bitcoin, it's decentralized and everyone is free to use and be an owner. But if a digital cryptocurrency creates by a government then most likely it will be centralized where they will co troll everything. I can't imagine Bitcoin will not survive if the government creates its own cryptocurrency, rather I think then it will be easier to trade bitcoin. Because then you don't have to use real cash to buy bitcoin, you can simply buy Bitcoin with the government-issued cryptocurrency or digital currency.

[vlast01]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Well China sure holds the largest population so its not hard for them to create their own currencies the major problem is if whether other countries will also recognized these new currency. Pandemic sure change everything amd most of today's transaction are done online and digital currencies is at best used. But still china won't have the ability to fully disperse bitcoin due to the fact that there are more country who are on the positive side of bitcoin and most of the banks worldwide have been associated with bitcoin, so the changes happens on china  may not fully affect the bitcoin or any crypto currencies as of now.

[amishmanish]

If major countries implement cryptocurrencies, it means little else than a shuffle to the banking system. In country's like China and India, you can already store your bank balance on mobile wallets and make payments akin to using a cryptocurrency wallet. If the countries decide to use blockchain based currencies, the only reason to do that would be to have an impeccable and easily auditable record of every single transaction within their jurisdictions, which means a.) More Taxes and b.) No currency printing charges. Whether this will have any effect on bitcoin or not depends on whether people would accept these in place of bitcoin.

If the govt wants to put its money on blockchain, its welcome to do so. That doesn't mean that i will stop using bitcoin or striving to stack satoshis. Given a chance, I would rather be part of this community of open sourced value, open source technology and open source governance. There will never be anything like bitcoin, ever again. Why would anyone want to let that go?

[plvbob0070]

Some countries are already planning to have their centralized digital currency, and I think in the few next years, we will see more countries will also want to have their own digital currency. And for me, even if they will make their own,  it won't affect bitcoin negatively unless they will try to ban it. If we're going to look on the positive side, it can give more recognition to bitcoin and crypto as a lot of people will use digital currency for their daily transactions.

[shamimal93]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Bitcoin is the world's first digital currency.  I do not believe that any digital currency can be created to compete with Bitcoin.  And Bitcoin has been created with people all over the world in mind.  If America makes their own digital currency, it will be confined to their own country.  If China makes its own currency, it will be confined to the country.  But Bitcoin was not created with a specific race in mind.  Bitcoin has been created with people around the world in mind.  So Bitcoin cannot be compared to any other digital currency.

[imstillthebest]

nothing bad will happen to them . didnt you know that what your saying of country creating a coin already happened before ? china was one of that but i forgot if u.s have that too but im sure that some parts of the countries arent left behind when the boom of digital currencies came out . we think that this can bring negative impact to cryptos but no but this makes people explore more world of digital payments and when they found out crypto they are going to legalize it.

 currently crypto was stronger compare to local crypto based currencies issued by a country

[Bitcoin Smith]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Each and every country has their own digital currency so the black chain System different from this kind of currency especially with kind had huge number of expectation for a long period of time so I think both the normal digital currency and also cryptocurrency survive in this world for long period of time.

[kryptqnick]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

If a big country makes their coin, this coin might become popular and grow in price. However, I don't think people would dump Bitcoin for it. Instead, new people who used to prefer fiat would now switch to digital centralized currencies. Thus, I don't think Bitcoin would suffer from this because it'll still have its users. Maybe even more people would become interested in it once they get used to those centralized coins and see the disadvantages. As for legality, I think Bitcoin is already legal in major economies (and is neither legal nor illegal in many countries), so I don't think any changes to that would be prompted by centralized coins.

[wxa7115]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

There is no need to worry, this is something many people have been thinking about before governments even warmed up to the possibility, will any government create a decentralized cryptocurrency like bitcoin with an open source code, no backdoors that they cannot print at will and from which they cannot change the rules of the network as they want?

If the answer is no then there is nothing to worry about  since bitcoin will keep being used as it will be superior to that currency and if the answer is yes then there is nothing to worry about either since that coin will just be a bitcoin clone, so bitcoin will survive and even thrive under those conditions.

[pixie85]

If a country develops its own digital currency it will still be a centralized digital currency.

It will be no different from electronic form of fiat money you have on your bank account with the difference that you'll be able to see your transaction on the blockchain without having to login to your bank account.

For investment purposes a decentralized cryptocurrency will always be a better choice.

[senya-com]

Pandemic shoud'd driven cryptocurrency tech more useful than it was, but we actually see mostly stock changes rather than progress in frontend technologies for users...

[ShowOff]

If a country make its own cryptocurrency then I believe it will be a centralized currency which will be different from bitcoin. The government won't let the currency it create get out of control and they always want to control it. This is what make me believe that there is no impact on decentralized bitcoin and people will use bitcoin as usual.
But I still think that the government will tighten bitcoin regulation if they have their own crypto.

[coolcoinz]

Let's say China makes their own cryptocurrency and opens easy transfers between banks and their local businesses. What will happen to Bitcoin? Nothing because Bitcoin is banned in China anyway so first of all establishing a local cryptocurrency would put them in a position where they have to specifically ban all other cryptocurrencies but their own. In such case their citizens who aren't now using Bitcoin would still be unable to use Bitcoin, which means 0 impact on the market if you ask me.

[DoublerHunter]

^ This has been discussed million times already. And as a matter of fact, bitcoin has been with us for almost a decade now. The entire platform the system is something that is the government trying to consider. Some of the people on the upper scale have their values stored there meaning to say that they cannot let the bitcoin stopped. Nevertheless, so if that's the case, bitcoin will still be there no matter what happens, as a matter of fact, we are now in the mainstream and most people consider using bitcoin in medium exchange.

[witcher_sense]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

We have every reason to believe that if big countries were to create their own cryptocurrency, the system using that new digital currency would be no different or would be even worse than the fiat system we have today. That would become a splendid occasion for further adoption of bitcoin. Sane people have already lost trust in government-issued money and switched to the use of bitcoin in their everyday transactions. Some of them have recognized bitcoin as a superior store of value, an effective instrument for protection from crises, recessions, high inflation, and negative interest rates. No way would they give up their bitcoin once again in exchange for pseudo cryptocurrency, which has no advantages whatsoever.

Governments will try to compete with bitcoin and they will fail again, no matter how advanced their blockchain will be.

[sharos]

I don't think it will affect Bitcoin too much because I believe the digital currency of a country will certainly make it easier for users from that country to touch cryptocurrency. And I don't think that's going to kill Bitcoin.

Absolutely right, Now almost every day we can see brand new cryptocurrency. Some of them really from a good place. But they can't kill other cryptocurrencies like bitcoin.

[VanityWallets2015]

I doubt it. If they will create such thing then the Banks will be no use and so everything will be decentralized.
Wherein the decentralized one is which the government really hates and the price of it will be really volatile which will really affects the government.
I really don't see for now that some big countries will create their own coin like a Bitcoin.

[Renampun]

I think Bitcoin and some Altcoins will be an asset in the future...
if all major countries issued their own cryptocurrencies then the cryptocurrencies in circulation today would experience a decrease in usage. so I think some of the current Altcoins will disappear and be replaced with cryptocurrencies that are circulated by the country.

[Alucard1]

It takes time before they crate their currency, American can create digital currency and it is only for american people, China can also create a digital currency for Chinese people only, creating their digital currency will not affect bitcoin or any cryptocurrency. At first, most of the people in their country will support that digital currency because it is still new and there are many benefits that they can do but as time goes by they may realize how unique bitcoin is and may regret why they set cryptocurrency away.

[farrellronald]

as you may have heard, China created its new cryptocurrency and so many people think that this could change the world of business since they can do any Trade with any country very much easier. it is simple, china can take over the global trade. however the creation of this crypto currency has had almost no effect on Bitcoin. I think the more there are cryptocurrencies, the more Bitcoin value will be shown

[waiberz]

We notice that they will use a digital currency but we don't know how it really works. Unlike crypto or blockchain it is borderless transaction and bitcoin has a value that almost reach a thousands of dollars.

So the question is can we buy and trade that electronic currency  and can beat the price of btc? Or it is still 1usd : 6.62 Chinese yuan as a current price from forex.

The issue is, it can be decentralized or centralized. That's why blockchain was created because we don't want monetary control of authority or any third party constitution banks alike.

[serjent05]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Bitcoin and other popular cryptocurrencies have established their foundation.  They already have a huge community that will support them all through out.  Even if America and China create their own blockchain-based currency, I believe the said earlier cryptocurrency will always have a place in the market.  As of being legal, there are countries that adopted Bitcoin as alternative currency or as a medium of exchange.  Others even legalized it so with big country creating their own cryptocurrency, I think it won't affect the legality of Bitcoin .

[J1mb0]

I think if the countries of the world release their own cryptocurrency it will make bitcoin more popular and increase in price.
Cryptocurrencies issued by countries are no different from fiat currencies, it will be a centralized currency and managed by the central bank. For those reasons the coins issued by countries will not be able to compete with bitcoin.

[Hamphser]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

When it comes to digital currency then its not that different from e-fiat which i dont see that it would heavily affect bitcoin and other crypto in the market.
They can launch all they want and this is no different with fiat. Crypto market will still exist.
ATM there are several countries that had already launched their own crypto coin but in short these are just fiat that had been digitalize.
These are the countries atm Ecuador, China, Senegal, Singapore, Tunisia
source: https://www.fxempire.com/education/article/the-next-cryptocurrency-evolution-countries-issue-their-own-digital-currency-443966#:~:text=To%20date%2C%20countries%20that%20have,launch%20their%20own%20national%20cryptocurrencies.

[Shasha80]

The Chinese government does plan to make their own cryptocurrency coins, but it's definitely different from Bitcoin.
I believe big countries like China want to control their own digital currency, so they will centralize the digital currency.
And all countries will not recognize the digital currency made by China, so it is impossible to use it for international
transactions. Unlike Bitcoin which can already be used for international transactions, so of course Bitcoin will survive.

[Bitcoin_bullish]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Will this blockchain be decentralized and run by consensus or it will be a government blockchain run by their own rules. How is this going to work exactly?
Will there be a possibility to re-org this government blockchain?
Will this blockchain be secure as Bitcoin is, or it will be subject to 51% attacks as most of the altcoin blockchains are?
Will the government be able to block accounts? I bet they will.
Will the government be able to block transactions? They will probably have filed everyone they don't like or owes them money.
How will this system be better from what they have today and how will it serve and help a country?
I don't see any government digital money system being the same as Bitcoin, but it will be worse than the current fiat system.

[FinneysTrueVision]

Digital currencies issued by countries will probably be heavily regulated. I don't expect them to be compatible with each other so that limits their level of adoption outside of the countries they were issued in. Bitcoin will still be the best option for sending money without any intermediaries that can censor your transactions. Some governments might see that as a threat but they can also see it as an opportunity for their citizens to be introduced to digital currency and when they eventually launch their own it'll be an easy transition.

[mangsitin]

The Chinese government released a digital currency yuan, but this digital currency will be fully controlled by the Central Bank of China, and issued through commercial banks.  different from bitcoin and other crypto, the system is decentralized.  I think China's digital currency development will be like fiat.  and bitcoin will always survive with its system which makes its volatility move quickly.  so the Chinese digital currency cannot influence bitcoin.

[Yatsan]

Even with the existence of government issued or we can call as national digital currencies, Bitcoin and other existing cryptocurrencies can still do survive for people will surely be patronizing Bitcoin and other existential cryptocurencies more than those created to be centralized digital currencies of the government. Also the regulation and taxation will surely occur on such digital currencies and will just be available on a certain nation unlike Bitcoin and Altcoins that can be used globally. Still the cryptocurrencies will be the best option of the people due to the benefits they can attain compared to what they can have upon engaging into the digital currencies of the government. Don't get me wrong, but I am pretty sure it is agreeable to be using Bitcoin and Altcoins more than national digital currencies for we can already be reliant on it since we have already proven and tested what it can do.

[Rengga Jati]

There are probably two possibilities:
- The Bitcoin and other cryptocurrencies will be more accepted in this world
- The coins will be competitors of BTC and they will have bigger power because of these two countries.
However, the value itself will lay on how people acceptance in the crypto market. China itself is developing their CBDC and it is the biggest in the world.
In this case, we may see how the future of that coin.
And about BTC and other cryptos, will they be legal and regulated? Well, actually many countries have legalized the BTC ad also other crytocruenices. But about the regulated, how can they regulate BTC in which it is held by many people around the world?

[Zemomtum]

Nothing can affect BTC regardless of any governments action or inaction. This is the first digital currency and it will have that respect for life, since there in no central control that can shut it down, others will shut be alternatives and competitors with the King.

[Darkelf11]

Nothing can affect BTC regardless of any governments action or inaction. This is the first digital currency and it will have that respect for life, since there in no central control that can shut it down, others will shut be alternatives and competitors with the King.

Yes, no one can make bitcoin  shutdown. Bitcoin is running for years already and if ever that America makes it own currency and blockchain, I think it will somehow affect bitcoin if people will switch from it. But that does not guarantee that  bitcoin will be forgotten, it can be a good competition between these currencies.

[Buttermellow]

Bitcoin has still wider scope and community compared to a single country that wanted to create their own digital currency. Yet, we know that bitcoin had been already having a huge market and it even listed in one of the top currency around the world. If China will going to open their currency for others then there is what we called as competition.and we do not know what will going to happen in bitcoin and in cryptocurrency with big players coming around.

[yazher]

The Chinese government released a digital currency yuan, but this digital currency will be fully controlled by the Central Bank of China, and issued through commercial banks.  different from bitcoin and other crypto, the system is decentralized.  I think China's digital currency development will be like fiat.  and bitcoin will always survive with its system which makes its volatility move quickly.  so the Chinese digital currency cannot influence bitcoin.

Their so-called cryptocurrencies is another stable coin to be precise, it doesn't affect BTC in any way. it has nothing to do with the movement of the bitcoin price in the market nor the current demand of the investors. they act in the different pages of the book, they don't need each other to collaborate because Bitcoin has been there for a long time. It survive the most crucial decline in the market and most of all it increases its price even in the middle of pandemic.

[asriloni]

You should read again what's the definition of digital coin that's issued by the government or CBDC. This coin will act very similar as stable coin. You should not feel worried about that.
IMO if this coin will bring more gateway for fiat money to go to the cryptocurrency.
I doubt the government will issue a coin that has the same mechanism like crypto but it's there's a possibility for bitcoin to issue the tokenization. I meant tokens backed by the asset or something else.

I didn't even think that will happen. The government wants to issue their own DBDC due to massive demand on crypto.

[goldade]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

I understand your point but I believe that if these world powers  like the US or China create their own digital currency, it would not mean the death of bitcoin.
If you truly understand the makeup of bitcoin, then you know what I mean. What bitcoin offers us is not just being a digital currency, it offers a whole lot more.
Bitcoin is decentralized which makes it beyond the control of banks and the government. You should know that government-created digital currencies are still in the control of the government and it's not truly for the people.
Another makeup of bitcoin that gives it an advantage is the anonymity it gives its users, government owned digital currency can't promise such to its users.
Thirdly, a state owned digital currency is most likely to only be useful in within the country and cannot be used outside the borders. This is unlike bitcoin which is universal.

[soetikno]

I think it will influence and become legal too, and will become a BTC / Digital USD pair, because the currency in that country can only be used in that country, whereas for example bitcoin is legalized it will be used by many countries, for example America and China, for example legalized

[concept2]

I think if the countries of the world release their own cryptocurrency it will make bitcoin more popular and increase in price.
Cryptocurrencies issued by countries are no different from fiat currencies, it will be a centralized currency and managed by the central bank. For those reasons the coins issued by countries will not be able to compete with bitcoin.

I somehow agree with your point. However, they do not create their own cryptocurrency. It is call Central bank digital currency. And as its name refers, it is digital currency and it only have a few elements of cryptocurrency. I have heard they build this currency based on the blockchain technology but you will surely be centralized by the government.

When people use digital currency, of course some of them will try to approach another form of currencies which are more open-source and decentralized. Soon, I believe they will reach bitcoin and the cryptocurrency. They will find the power within bitcoin and the capability to be anonymity without being controlled by anyone. Living in the world where you can fully operate everything is a dream to many people. So I guess it will make bitcoin more popular

[OrgonePyramid]

Btc will prevail, they cant ban it

[wxa7115]

I think if the countries of the world release their own cryptocurrency it will make bitcoin more popular and increase in price.
Cryptocurrencies issued by countries are no different from fiat currencies, it will be a centralized currency and managed by the central bank. For those reasons the coins issued by countries will not be able to compete with bitcoin.

Governments around the world are facing a very difficult problem because of bitcoin, if they decide to let bitcoin dominate the market without any interference then they are letting a competitor have a complete monopoly over this new market and that is something they do not want to do.

However at the same time if they release their own coin then they are basically legitimizing this market when in the past they said this was bad and that their citizens should not adopt cryptocurrencies, so not only this leaves them as hypocrites but this also helps bitcoin, after all even if I think many people will use those cryptocurrencies created by the government I also think many people will now have a chance to adopt bitcoin without too much of a hassle and that is good for us as well.

[BADecker]

Make Bitcoin Great Again: Trump vs Biden vs Crypto: The Bitcoin.com Weekly Update - https://www.youtube.com/watch?v=2hOcVqmGGWU.

[Lintel]

Survive ? i think yes if bitcoin and crypto legal in all country.
But, If we talk about prices, maybe we can see the exchange rate of dollars around the world.
If bitcoin or crypto legal, i think they same with dollars condition, they will always dump and pump.

I completely agree with you. Bitcoin survives even it is not legal in some countries how much more if it will become legal.  Dollars are everywhere and you can exchange it from any money exchange around the world because it is US currency whereas Bitcoin is digital currency so its limited when it comes to usage. And it is volatile, the price is not stable.

[Emitdama]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

I don’t think any of Satoshi’s visions includes Bitcoin replacing our main currencies, I think Bitcoin is meant to be a currency on its own that people can use if and whenever they want it, and is not something that’s going to be a must for everyone to make use of. It’s on its own, and then the USD, Euro, and other currencies are on their own.

Bitcoin is there so that whenever we want to send money to other countries it will be easy and cheap, although it’s no longer less as it used to be, the fees has increased and the time, and I’m hoping that they get it fixed so that everything will keep flowing.

[Chuky92]

The first thing everyone knows about Bitcoin is that, it is decentralized which leads to more trust and reliability, it also means that users are in charge of their Bitcoin; this can also be applied to other cryptocurrencies based on decentralized blockchains. Now having this in mind and thinking of the government, one will realise that, it can not work, that is, the government loves power and control, and hence cannot create a digital currency which they can't control. One thing is, a country creating a digital currency will attract a lot of attention from people because it is from the government but another thing is, when it comes to the privacy aspect and they understands that Bitcoin is unique, they will be forced to hold more of their assets in Bitcoin. In addition to that, talking about Bitcoin becoming legal looks like saying it will be under the control of the government, which of course cannot work. Lastly, Bitcoin will surely survive no matter the action any government takes because of its trustworthy nature but same cannot be said for a lot of other cryptocurrencies out there.

[lhance]

bitcoin is one  of the first digital currencies and the world's considerable cryptocurrency.If America and China will concieve there own digital currency i believe that bitcoin and cryptocurrency will hold up against all the hindrance because many people believes the power of bitcoin and of how it works for how many years.

[sayaya17]

Bitcoin, which was once ostracized, is now something to learn to emulate, but many countries don’t want to legalize it. They just want to create
their own digital currency whose character is like Bitcoin. Equally digital. If so, Bitcoin is increasingly exerting influence globally.
Now many central banks in the world such as China are ready to create their own digital currencies.
If the long-popular Bitcoin we know goes with no one monitoring, then the central bank and the law will guarantee the digital currency of the government’s version
But still Bitcoin is used almost all over the world other than as a currency, and an investment asset. The government’s version of the digital currency, it is still questionable, because it is not yet officially circulating in a country.

[nemey]

I really hope bitcoin as well as cryptocurrency will become legal. So that it can provide a sense of security and comfort when investing in crypto. This is important to me, because if we feel safe and comfortable it will be more comfortable to be in crypto. And I think if this crypto becomes legal there will be more crypto enthusiasts, crypto will be known to the wider community. And this crypto will also be able to survive longer because its existence is recognized.

[MCobian]

I am sure big countries like America and China will definitely make their own digital currency in the future, but I believe it will not
threaten the existence of Bitcoin. Because it is certain that the digital currency that is made by America and China is  controlled by
the government, so users are not given the freedom to manage their own finances. Then regarding privacy issues, don't expect to
get it from the digital currency created by the government. Because the government will require KYC procedures to be able to use
the digital currency they make. With this Bitcoin still has advantages that are not owned by digital currencies created by the government,
so I believe Bitcoin will survive.

[shoreno]

I really hope bitcoin as well as cryptocurrency will become legal. So that it can provide a sense of security and comfort when investing in crypto. This is important to me, because if we feel safe and comfortable it will be more comfortable to be in crypto. And I think if this crypto becomes legal there will be more crypto enthusiasts, crypto will be known to the wider community. And this crypto will also be able to survive longer because its existence is recognized.

it is legal in general but depending on the country you are living the government can put restrictions and other rules if they are bitter but some dont care and accept cryptos as what they are and what they meant to .

i like this attitude better . being totally legal dont provide security , online crimes are still there and your the only one that is responsible for your actions but comfort can be possible because you wont hesitate anymore and youl be confident when you know that btc have that status  . its longetivity will still be the same but if its totally legal , we can widen its support .

[btc78]

I really hope bitcoin as well as cryptocurrency will become legal. So that it can provide a sense of security and comfort when investing in crypto. This is important to me, because if we feel safe and comfortable it will be more comfortable to be in crypto. And I think if this crypto becomes legal there will be more crypto enthusiasts, crypto will be known to the wider community. And this crypto will also be able to survive longer because its existence is recognized.

it is legal in general but depending on the country you are living the government can put restrictions and other rules if they are bitter but some dont care and accept cryptos as what they are and what they meant to .

some countries has no banning but also has no support from the government meaning they are neutral countries and people can do anything using their coins.

and if you are restricted in using this then better quit or just hold your coins.

i like this attitude better . being totally legal dont provide security , online crimes are still there and your the only one that is responsible for your actions but comfort can be possible because you wont hesitate anymore and youl be confident when you know that btc have that status  . its longetivity will still be the same but if its totally legal , we can widen its support .

hackers,scammers and all elements that has idea about what is bitcoin will surely find ways to take our currencies.

[FlightyPouch]

I think people would continue to use it. I don't think that it would be legal at that time but I am not saying that it will be illegal, what I am saying is that I guess it would be an alternative to fiat and even though we are using the digital representation of fiats at that future, bitcoin will be the popular way to transact on the internet.

[abel1337]

I think people would continue to use it. I don't think that it would be legal at that time but I am not saying that it will be illegal, what I am saying is that I guess it would be an alternative to fiat and even though we are using the digital representation of fiats at that future, bitcoin will be the popular way to transact on the internet.

I think this could affect to bitcoin price, but it will not be really a hindrance since I believe still there will more people that will choose bitcoin among us and china digital currency, because we all know if a certain country that government is involved it is far different from bitcoin blockchain that we all want because of its security and untraceable transfer of assets, so I conclude it will not affect.

[Fredomago]

I am sure big countries like America and China will definitely make their own digital currency in the future, but I believe it will not
threaten the existence of Bitcoin.

They will once they've seen how their citizen support and embrace this kind  of system, for sure it will be part of their plans
knowing that in anyhow they need to work with it.

Because it is certain that the digital currency that is made by America and China is  controlled by the government, so users are not given the freedom to manage their own finances.

Correct, bitcoin believers will continue to support how things being manage around this environment even their governments
already implement their oown crypto system,
Most are not willing to be controlled the same way how the financial system are being done with this current setup of every
nation in the world.

Then regarding privacy issues, don't expect to  get it from the digital currency created by the government. Because the government will require KYC procedures to be able to use the digital currency they make.

For sure, KYC will be the first thing as government wanted to make sue that they know who's holding the coins and how
they are using it, they need to be in control.

With this Bitcoin still has advantages that are not owned by digital currencies created by the government,
so I believe Bitcoin will survive.

With this currrent developements, the chances of surviving is really high for this coin, unless there are supressions that widely
implemented all over that might affect  everythign.

[adzino]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Same system as Bitcoin? You mean decentralized? Lol, that is not going to happen. The best they can do is make a centralized currency where they have full control of the chain. Which means they can manipulate anything on the chain without any issue.
So if they make something like that, people will still be using bitcoin and other decentralized crypto currencies because they know the advantage of currencies like this over currencies like those that will be made my the government. So, nothing will happen to bitcoin. In fact we might see the price skyrocketing!

[BTCappu]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

It’s not government or countries that are going to adopt Bitcoin, it’s we the individuals that truly understands it that will adopt it and be making use of it. It’s going to be separated from the real currencies, it’s going to be on its own to be truly decentralized. If it can actually be controlled by a government, then it is not decentralized any longer.

I think people would continue to use it. I don't think that it would be legal at that time but I am not saying that it will be illegal, what I am saying is that I guess it would be an alternative to fiat and even though we are using the digital representation of fiats at that future, bitcoin will be the popular way to transact on the internet.

What I know for real is that it is going to be legal in so many countries, even places where it is illegal, they will learn and understand it better and allow people to use it. But by then the government will look for ways to be regulating it, and it’s going to be through centralized exchanges, which a lot of people are making use of.

[serjent05]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system),

Let us be true here, the government will never create a cryptocurrency that has the same decentralized system as Bitcoin.  The government always wanted to be in control and to do that, they need the information of all coin holders.  Thus, they will always implement KYC to fulfill that desire.

... then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Bitcoin and other cryptocurrencies will, for sure, continue to exist and possibly serve as an alternative currency.  I am sure once the government decided to create their own cryptocurrency, many small time cryptos will be weed out and only those who were well established will remain.

[Lanatsa]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

Don't know if Digital Yuan is already launched or not https://www.bloomberg.com/news/articles/2020-09-08/how-china-is-closing-in-on-its-own-digital-currency-quicktake

but they are already considering such thing and regarding on the question if it really affect bitcoin? Definitely no.

It has nothing to do with those government backed digital currencies, no matter how many they would create, nothing beats out with Bitcoin and its decentralization

which is the main thing on why lots had been supporting it.

[verita1]

I think it would be a good outlook for Bitcoin and cryptocurrencies. It only takes the digital currencies of the countries to change the paradigm and that will be very soon. As we know, China has taken a step forward and is doing its tests to launch the digital Yuan. It was to be expected because Bitcoin has evolved the way we handle money. The current situation has allowed it now that the economy has become more digital.

[abderrazak belkhir]

This is really a good qeustion but no one can know what will happen to bitcoin and other currencies if those countries make their own currencies
But as you now the crypto world is huge and i think that bitcoin will always be needed and used in many sectors

[hajirkhalid2]

Cryptocurrency is a best platform and makes better future for young people's and bitcoin is the virtual currency it could be have better future.

[FlightyPouch]

I think people would continue to use it. I don't think that it would be legal at that time but I am not saying that it will be illegal, what I am saying is that I guess it would be an alternative to fiat and even though we are using the digital representation of fiats at that future, bitcoin will be the popular way to transact on the internet.

What I know for real is that it is going to be legal in so many countries, even places where it is illegal, they will learn and understand it better and allow people to use it. But by then the government will look for ways to be regulating it, and it’s going to be through centralized exchanges, which a lot of people are making use of.

But this still depends on what will happen to the adoption of crypto currencies. The price of bitcoin is increasing thanks to the demand and the people riding in, if this continues we might see the adoption increasing and that is when the government of countries would have the idea of regulating it. Right now, we still don't know, we will see that in the next few years.

[Dorodha]

Much better move for Bitcoin and cryptocurrency the upper the worth of Bitcoin the upper the demand for crypto. The crypto market will improve further as different countries plan to use their own currencies including Bitcoin. Blockchain is that the process of storing data by encrypting the encrypted information of all the financial or asset transactions that are happening round the world during a fairly specific period of your time. during this system a distributed and decentralized laser is totally immutable thereupon block. Banks or banking systems are created on the idea of crypto blockchain to handle the financial transactions or exchange of assets of the organization.

[Asuspawer09]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

I think it would not really affect the bitcoin market, China, and America creating their own cryptocurrency than they could only be used in their own country in my opinion since it's kinda impossible to use when it comes to different countries.

Just like what happened to all of the bitcoin alternatives or altcoins that tried to copy the success of bitcoin, it just doesn't work getting the market price of it and the solid demand from its investor. Making digital currency is just gonna end up like a fiat currency since it might be centralized so it is just fiat money but digital just like Paypal.

[Casdinyard]

would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

It's legality depends to the policies within the region or country. Bitcoin will still survive, I guess. There are many cryptocurrencies having the same feature as with Bitcoin but why is it still on 'top' of this industry? probably because of its wide range of users across the globe. It has a large community of users. There are many people supporting this crypto simply because they see something in this crypto which is not existing in other cryptos. The advantage of Bitcoin over those cryptos which will be made by countries? Decentralisation and volatile market value. These two are the main things. Ofcourse those cryptos to be made by governments won't be decentralized in the first place. Value will be fiat based so there will be a sort of stability which will not generate profit as an investment. It will be more used as a currency and given how many digital currencies being used, to what extent will it be more recognizer unlike with Bitcoin?

[carlisle1]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

What you have mentioned are strong and largest countries meaning this is not represented the whole world so
then why so bother about the whole market?those countries are big but they are not enough to hinder and stop this market.

yeah I also think of that things sometimes but after analyzation how blockchain is helping and initializing the cryptocurrencies towards
favoring the users?
sooner whole world will be for crypto and fiat will be secondary for all our transactions.

Bitcoin will surely survive,we have been here for more than 10 years and will be staying for another 10 and more.

[ChiBitCTy]

China recently released their own form of cryptocurrency.  If the United States were to ever do so, I would imagine it would look very similar to the currencies that China issued.  They are centralized coins, where the government can completely control it unlike bitcoin, which is decentralized.  This is the major difference here and why bitcoin and other crypto coins would survive just fine.

[mezzaluna]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

It would be possible that they would create their own Cryptocurrency but it would take time before it can take over or even surpass Bitcoin. It would also attract flak from different countries because it would be possible for multiple countries to want their own Cryptocurrencies but people know that it is not possible. One good thing that they can do is further develop existing Alternate Cryptocurrencies that have potential.

[Zanab247]

Bitcoin is a decentralized currency, that is not remote by the government or any body in the country. Even though any country do anything to improve their currency to devalue bitcoin it will hard for such thing to happen to bitcoin. During pandemic bitcoin show to the world that with time digital currency will be the best among other cryptocurrencies. Bitcoin price is rising in the market while cryptocurrencies are reducing day by day in the market that is making some investors wondering how powerful bitcoin stand in the market.

[taufik0911]

whether or not bitcoin is legal in a country is the country's policy because the country needs to calculate the use and circulation of money in that country to prevent inflation or deflation
when a country creates its own digital money using blockchain it will not have a big effect on bitcoin or altcoin because the money they print also shows the underlying gold is different from bitcoin
without the underlying, it is possible that the country could be in crisis

[mung_nasib]

often developing technology systems I am sure Bitcoin will continue to be known throughout the world one of the driving factors because bitcoin can be used to make transactions quickly and is definitely able to save time efficiently.

[gurjasmeetsingh]

I think there is no need to become legal. Because bitcoin has already much more popularity in the market. Nowadays the price of btc growing up & who have buy the btc in the past, they have get much more earnings & enjoy their life.Think if the  big countries will legalize crypto currency then people attracted this currency. Although many countries had already legalized the currency to gain more revenue to progress & wants to brand name of their country in the world.

[mikelpol]

Bitcoin has been around for a very long time and it has not yet been made legal, because nothing will change from this. It is difficult to control it and even if it is recognized as illegal, it will still be used.

[kentrolla]

BTC doesn't need any consideration it has already became popular people have been crazy on this digital currency because of its volatility hundreds of people became millionaires and more to come, I agree that if countries like American and China make their own coin it will surely affect BTC but that doesn't mean BTC will become zero.

[Rafiqul]

Even if big countries like America and China develop their own blockchain systems in the future by creating their own digital currencies, I don't think it will be able to challenge Bitcoin or other cryptocurrencies. Because if they have their own currency, it will be centralized, they will be regulated by law; Bitcoin or other cryptocurrency, on the other hand, is decentralized, not regulated by any particular country or by any law, so people have more confidence in it. Even then, if their digital currency comes into the crypto world, I think it will be the same as other cryptocurrencies, including the current USDT in cryptocurrency with Bitcoin, which will not harm Bitcoin or other cryptocurrencies.

[bandungan]

I always think if a big country like America or China makes their own digital currency and has the same system as Bitcoin (develops its own blockchain system), then the digital currency of that country is recognized as a legal digital currency and is used for digital transactions by all countries, then I thought what would happen to Bitcoin and cryptocurrency, would Bitcoin and cryptocurrency survive? or even Bitcoin and cryptocurrency will become legal too?

There have been many plans from several countries that want to legalize bitcoin, this might be a positive side that digital currency will be recognized and easily recognized by the wider community, but this discourse always gets pros and cons. but there may be policies or regulations so that the digital currency can be legal in each country

[Tamim121]

In my opinion Bitcoin or other crypto must be survived in that day. Because a lot of or huge population are fan of Bitcoin or used it in many site. If the big country make their own digital currency then Bitcoin or other crypto price may be down but not sure. May be no impact will fall in Bitcoin. Because the government make the same digital currency that he make now. Now the Money is making by paper. In the future they will make money in digital system. This is the only difference i think.

[iamylee]

It has already existed for 12 years and has not only a dedicated investor base but also an immense development community. While there are some concerns regarding what might happen to Bitcoin mining when quantum computers become available to the average joe, the fact of the matter is that the development community can and will find a way to mitigate against any issues quantum mining may bring. With the last Bitcoin set to be mined in 2140, it doesn’t look like it will be going away anytime soon.

[vintagetrex]

the development was good.  blockchain as a tech gained a lot of support from both open source and investment communities.  then suddenly, around 2016 presidential campaign, all lead developers and militancy appeared to vanish.  now many "mom and pop" investors, moderates, etc. are all thats left of satoshi's initial works. 

[SmokerFace]

People won't believe in new currencies, instead, they'll use bitcoin and blockchain technology.
Everybody realizes that bitcoin and digital money are profoundly unstable and there's no possibility for controlling them while the government has the ability to control other currencies.
People never gonna involve with such currencies which can be controlled by their legislature. It's been 10 years and bitcoin is still unbeatable.
Just forget about "big countries making their own currencies" and focus on bitcoins.

[oemar bakrie]

maybe bitcoin and other cryptos will follow the law in the country, because it is seen from the age or fame that bitcoin was the earliest and the wider community understood bitcoin more..but we'll see how the next development ..