Bank & Government Crypto

[BIN-BIN]

The central bank. digital currency ( CBDC) was a replica of a banknote on the blockchain, this was intended to give the central bank currency a representation on the blockchain and to be used as a stable currency for exchange purposes.

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[Kabul]

Well, I do not like the idea using a centralized cryptocurrency because your money can be revoked at anytime. Transaction will no longer be transparency and private but instead, stored in the national data which can only be used by the authorities. And since they are the government, the percentage of suddenly losing your money is quite high. Thus, bitcoin will still be prefered by many people, except those who never use "real" cryptocurrency before. But I guess when the regulations are found, it is hard to run away from the new system. We will be forced to use it just like they did with fiat.

[Wawa2013]

If the government made their own cryptocurrency it would be very different from Bitcoin. Because it certainly can't be used for trading, 
maybe government-made crypto is almost the same as stable coins which have a price based on fiat prices. After all, government-made
crypto will become a centralization which will be controlled by the government and central bank, so it is not transparent and there is
no freedom to control our own finances. The conclusion however is that Bitcoin is still the best.

[Hamphser]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

Big NO!

Government doesnt really like anonymity or being decentralized which is totally or completely opposing on what they wanted and also there are already some government who had created their own digital currency
but this one cant really be considered as a crypto but rather digital fiat itself.

Ex. https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118

Decentralization isnt something that government do like.So expected with these kind of situations.

[7788bitcoin]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

If no one is using them then it wont have any value, Venezuela already released a cryptocurrency named Petro and it was not successful and i have no idea whether anyone is trading them and the government tried to push their centralized cryptocurrency but failed miserably and that will be the case for future government created cryptocurrencies as well .You need to attract investors and users to use them if not it will die off eventually.

[TheUltraElite]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

Firstly, this is a very radical and anti-democratic move, so they would think over it twice or more before implementing. It would usually mean the government does not want bitcoin but they want their own state-coin.

They can evaluate the current fiat value and use a cryptocurrency that is equivalent to that and use that for the people to spend. However does this even have any effect on bitcoin? No because it becomes a completely different entity, just another version of the fiat. But only if that currency is exchanged for bitcoin and there would be market for such then the situation would become different.

Democratic countries might not be actually doing so even if they talk about such. After all morons are always putting up absurd claims and bills and then revoking them. What actually happens after Mr. Musk has pumped bitcoin is worth watching.

[ven7net]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

You need to understand that just like that, any person cannot create money, as this will lead to a house. Only the state has a monopoly on the creation and control of money, and this is not for nothing. If states will have their own cryptocurrency, and this is probably where everything is going, then I do not think that the policy in this direction will change. Moreover, I believe that if there is a government cryptocurrency, it will be a stable cryptocurrency, since stability in price is needed. As for the management of such a cryptocurrency, its management will also remain with the state, and this is probably correct, because this will avoid fraud and manipulation by third parties.

[Theb]

They didn't start to work on this digital euro to compete with cryptocurrencies. They perfectly know the difference between a digital coin and crypto and know very well that people interested in cryptocurrencies is just a speculation matter. This won't be the case with a digital euro coin.

They did it as an innovation in digital payments means and to avoid being dependent on certain networks. By networks, I mean some companies like Visa and Mastercard

That was part of my point but I'm guessing that its not only about credit/debit card companies but also payment processors such as Paypal and cryptocurrencies as well. The European Central Bank was happily co-existing with these payment methods before the emergence of cryptocurrencies and now they are only acting when the crypto market has started gaining traction in the EU. I'm guessing that this is their way of silently "regulating" money transfers while they aren't doing any kind of stricter enforcement in the crypto industry.

[lifeforcepools]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

Most likely, this is inevitable, but do not expect that these cryptocurrencies will be able to somehow compete with crypto.

[Innerpumper]

the downside of bitcoin is that they don't have a database center. If we lose our wallets then it's over. Well, if the bank can solve that problem, it's possible that 85% will start storing in crypto banks

[pawanjain]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

It depends on how they are deploying it. For instance if they are deciding it to be a stable coin then the government will decide it's value and that will remain constant.
The price will never change just like how the value of USDT is one US dollar. If the government is launching it as a normal cryptocurrency then it might depend on the demand and supply of the coin to determine it's price.

[cr1776]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

Why have something censorable, centralized, and inflatable (among other things)?

Things like the digital yuan, aka slavecoin, are nothing more than tools to mislead.

[perfect999]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

From my understanding, the way we are going to be storing government issued cryptocurrency will be like when you’re saving in a bank or storing your money in centralized exchanges where you wouldn’t be the one who would be in charge handling your money, rather it will be banks or whatever kind of exchange that would be controlled by the government that will be handling it for you, and a you will be doing is just making transactions and things like that, just the same things you can do with your mobile banking while your money is stored in the banks. But I believe everything has stages, with time there is usually an improvement for everything.

[Matimtim]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

Im curious about this question, why they need to create their own crypto currency if we can use our country money online, like online bank transaction or using exchange wallet so, they don't need to create their own crypto currency because they have already because we can categories our country money as crypto currency when we use it online.

Here in my country I use my local currency online using exchange wallet, and in that situation there is no difference between crypto currency and local money.

[Ozero]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

If you mean the creation by governments of their own digitalized currencies of central banks, then they can be very conditionally classified as cryptocurrencies. So, the Chinese digitized yuan will actually have nothing to do with it at all, since it is not even based on blockchain technology. This will be another type of non-cash payments in yuan. The same digitized currencies that will be issued on blockchain technology will in fact be only stable coins. Their functionality and interaction with cryptocurrency will still need to be looked at and evaluated.

[RILWAN]

There are blueprints by some government/central banks to create their digital currency to be run on the blockchain. This digital currency will be supported by the National currency so the economy will provide liquidity for the government crypto.

[ilovealtcoins]

Banks and/or governments can not create a decentralized currency, they can only create a state currency and there is a big difference.
Since they can only create a stablecoin, I can't imagine people speculating on it more than with traditional currencies.
So if you expect to see people buying state coins and wait to see the price pumping. Nope it won't happen

They didn't start to work on this digital euro to compete with cryptocurrencies. They perfectly know the difference between a digital coin and crypto and know very well that people interested in cryptocurrencies is just a speculation matter. This won't be the case with a digital euro coin.

They did it as an innovation in digital payments means and to avoid being dependent on certain networks. By networks, I mean some companies like Visa and Mastercard

Banks only create cryptocurrency for everyone to use, and it will be their closed system. The source code specification is certainly closed, modified by the bank. Decentralization does not happen in these currencies. It will be just like the USDT we know, representing 1 $.
I don't worry much about this currency as everyone will have their right choice.

[Ararbermas]

Probably uninformed people will start using their currencies and will not want to know anything about the Bictcoin but most people will end up knowing that the most valuable asset is the Bitcoin, because the information today is very accessible.

I agree., no matter what happens. ppl will tend to stay connected with crypto currency.  Because there's no way they can take over in it as long as the price getting more valuable every year .. Especially bitcoin wherein knowing that ever since it give us more opportunity to multiply our money,.  So they cannot buried crypto currency on that kind of way..

[mbe48]

Just my thought, if that happened there might be panic for people who don't know what Crypto is. Must adapt to the introduction process of the function and use beforehand. But this is very interesting, if the Bank and the government make Crypto, maybe the price will also suit the people in the sense that it has a stable price so it doesn't trigger inflation ..
But in my opinion if that will happen, it might be more precisely Fiat Digital, a conventional digital currency whose price does not follow the Bitcoin exchange rate.

[Rasel5209]

If banks and governments create their own cryptocurrency, will the people still be the ones to give value to it like Bitcoin and will we be able to store it in our own ledger to protect our own money?

If you local bank and government accepted crypto currency. I hope your own money is safe in this bank.