[dtube] Will Governments Create Their Own Cryptocurrencies to Rival Bitcoin?
Foppo12 says "Do you think that an already existing coin would be viable for overtaking a national market or do you think governments will create new coins to replace their existing currencies?
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Legit Cryptocurrencies are (among many other things):
If "Governments" get into the cryptogame, they're going to be VERY DISAPPOINTED by the amount of transparency and equity in the market...Not a game they like playing.
They should just stick with printing as many
USDT TetherUSD they need to pay their current debts until tomorrow.Lol ya. If it's decentralized and fairly distributed then there's no advantage for them, they may as well just tell people to use Bitcoin.
And to whatever extent they have special control of it, it'll cut in to why crypto works and holds value. There could be some improvements over the current system, like if you take away the feature where they can create new coins at arbitrary. But OTOH, it won't have the tradition and the "brand" of the dollar, which seems like a big drawback.
It would be funny tho if "blockchain" as a marketing gimmick gave a gasp of life to the USD, like they tokenize it and have an ICO like all the other hucksters do nowadays lol
Exactly! Current Stakeholders (Governments, Power Brokers, Etc.) will try to use the new technology to continue their operations and it's up to us to decide which Crypto projects are legitimate
Opportunity, and the opportunity to be taken advantage of, are always present in new technology.
Bitconnect is the perfect example of this: Just a centralized, unfairly distributed, not open source ponzicoin.
We already see some municipals doing this
If they decide to go that route, it's like making toys only they will play with.. Good luck to them.
Practically the whole point of running a country is getting to have your own printing press.
I used to have 99% of my investment in Bitcoin, times have changed, whatever it dose next, i'm OUT! Just SOLD almost everything and Bought myself a brand new ford Mustang 😍
I vlogged it here: https://d.tube/v/quby/6iceb4f7
P.S.
I hope it goes up again to 19k $, that was the best time ever for me.
Well it wouldn't be a bad idea if govts create their own centralized Crypto's to compete with decentralized. It's inevitable. Don't you think it's happening in Venezuela? Where the govt wanna have their own coins ?
Thanks for sharing
the cryptocurrencies without backing to the side apparently come "centralized" currencies mostly supported by the ethernet network, only cryptocurrencies survive that have a use applicable to the needs of people example: steem, etherum, ada, btc bts other
venezuela is the country that leads the new technology with an token rc20 I hope it really works and that could generate the death of fiat money!
Sure and ut seems US govt are kicking against Venezuela moves. But will such move if it works solve their high inflation and economic woes ?
the petrocoin will stabilize the economy and bring a lot of investment to venezuela, there is a very important fact is that the opep and petrocaribe countries will invest in petrocoin besides the cryptocurrencies backed by some asset, DGD backed in gold and terther backed in $ do not have so many problems of volatility in the cryptocurrency market!
If the community stays tight, and does not let the governments and bi corps budge in...we can make sure that only decentralized coins stay in circulation, and let the centralized coins sit and rot. we need to keep honest news between us all. We all need to remember to stick together and be the resistance.
I think in the long term, as more and more people start catching on, and more platforms like Steemit/Dtube arise, a sort of "digital nation" will arise. Animosity for the big centralized banks and government combined with the ability to live directly tied to the grid and participate with any number of communities.
The original idea of Bitcoin and cryptocurrencies is to return financial freedom to the masses through decentralization. With governments on the way, anything they will create will just look like an electronic fiat for me.
Exactly @sonofsatoshi
If Governments Create Their Own Cryptocurrencies, it will be great.
Government and banks already endorse or creating it's own coin. Petro dollar, NEO and to name a few...