Government Cryptocurrency

[Bilal0087]

A while back I heard the US actually had their own cryptocurrency, or was looking to start one of their own. Is that true? if so, would you ever invest into a cryptocurrency owned and started by a government? I honestly don't know. As it could result in pay, but who knows how the government will work it out. They could impose extremely strict rules as well. What do you think though?

I don't know the reality behind this news, but if it's true then it could be huge benefit for the country as well as people.

 

[Arekay]

It will actually be horrible for the government to own cryptocurrency. They will exercise absolute control over the crypto, the will stabilise the price(which is actually good), and you won't be able to make profit from it the way you make with bitcoin or other altcoins. In general, the crypto will a fiat currency like.

 

[Nomad]

China already has its own crypto currency. It is called digital yuan which is backed by central bank of China. India is also thinking something on this line, to launch its own crypto currency that will be backed by the central bank. I do not know about other countries.

 

[Sincerem]

China already has its own crypto currency. It is called digital yuan which is backed by central bank of China. India is also thinking something on this line, to launch its own crypto currency that will be backed by the central bank. I do not know about other countries.

This countries are in doubt with the popular digital coins, that's why they are inventing theirs. Which will enable them to regulate and monitor it the way they do with their fiat currencies. Let's see what the future holds for their own coins development.

 

[Monster Masterpiece]

It will actually be horrible for the government to own cryptocurrency. They will exercise absolute control over the crypto, the will stabilise the price(which is actually good), and you won't be able to make profit from it the way you make with bitcoin or other altcoins. In general, the crypto will a fiat currency like.

The laws in countries that does not regulate a cryptocurrency just because laws of regulations are not yet implemented on this country so they go to ban cryptocurrency.

 

[Shigobad2020]

The idea of government having their own Cryptocurrency is nothing but a way of manipulating the citizens. for instance, in my country, you are not allowed to carry out any Crypto related transactions on your bank account. This is a clear indication that government really hates Crypto here, so if the same government now brings out her own Crypto what can we call that?

You are very much correct, the idea of government having their own crypto currency is a way of manipulating citizen and putting a heavy tax on them just to take more percentages of the crypto currency from people, its a bad idea and a way of cheating the people.

 

[Good-Person]

Government made their own digital currency after their own fiat currency. The chinese government is one of them. They made their yuan successfully without any ones interruption. But now they want to interrupt those popular coins, which is cruel.

The good thing about Chinese Yuan is that it is constantly rising. I really do not know if Chinese government has anything to do with this because governments cannot interfere in cryptocurrency world. Cryptocurrencies are highly decentralized and they cannot be controlled by any government as far as I know. But I really do not know if this is entirely true. The fact is that Chinese Yuan is rising and I might buy this cryptocurrency in the future if I can see if it is beneficial.

 

[Sincerem]

The good thing about Chinese Yuan is that it is constantly rising. I really do not know if Chinese government has anything to do with this because governments cannot interfere in cryptocurrency world. Cryptocurrencies are highly decentralized and they cannot be controlled by any government as far as I know. But I really do not know if this is entirely true. The fact is that Chinese Yuan is rising and I might buy this cryptocurrency in the future if I can see if it is beneficial.

Yes Chinese isn't interfering around Cryptocurrency in any way. But south Korea and India are taking it serious to ban Cryptocurrency. They have exerted laws that anyone associated with crypto investment should be thrown to jail.

 

[Good-Person]

Yes Chinese isn't interfering around Cryptocurrency in any way. But south Korea and India are taking it serious to ban Cryptocurrency. They have exerted laws that anyone associated with crypto investment should be thrown to jail.

Yeah. I have read about it. I have read that anyone who is found using cryptocurrency in India will spend 10 years behind the bars. The main difference is that many people who live in countries where cryptocurrencies are allowed are spending their time in bars because they have earned a good amount of money by trading cryptocurrency and people who live in countries where cryptocurrencies are banned are spending their time behind bars. That insane!

 

[Sincerem]

Yeah. I have read about it. I have read that anyone who is found using cryptocurrency in India will spend 10 years behind the bars. The main difference is that many people who live in countries where cryptocurrencies are allowed are spending their time in bars because they have earned a good amount of money by trading cryptocurrency and people who live in countries where cryptocurrencies are banned are spending their time behind bars. That insane!

That's the problem of the world, everyone doesn't agree for one. Another persons best method of earning might be detestable to another. That's the problem with this countries in disguise with Cryptocurrency. But they'll come to regret their costly action in years to come especially India and south Korea, Nigeria etc.

 

[Good-Person]

That's the problem of the world, everyone doesn't agree for one. Another persons best method of earning might be detestable to another. That's the problem with this countries in disguise with Cryptocurrency. But they'll come to regret their costly action in years to come especially India and south Korea, Nigeria etc.

I really do not know why cryptocurrencies have been declared as something illegal when the fact of the matter is that it can actually make people more stable. I can understand that cryptocurrency investment is risky but not all the cryptocurrencies are risky. It looks like governments have a fear of cryptocurrencies.

 

[Sincerem]

I really do not know why cryptocurrencies have been declared as something illegal when the fact of the matter is that it can actually make people more stable. I can understand that cryptocurrency investment is risky but not all the cryptocurrencies are risky. It looks like governments have a fear of cryptocurrencies.

Some government thought through steady trading of Cryptocurrency with their own fiat currency, that their fiat currency have every chance to devalue. Plus many scammers are using such avenues to steal and hide their funds based on how Cryptocurrency is decentralized. That's true, but they forgot to list its merits which is by far greater than the demerits bro.

 

[Dowenship]

A while back I heard the US actually had their own cryptocurrency, or was looking to start one of their own. Is that true? if so, would you ever invest into a cryptocurrency owned and started by a government? I honestly don't know. As it could result in pay, but who knows how the government will work it out. They could impose extremely strict rules as well. What do you think though?

Actually what i heard about the Us government was that they invested close to $4 billion on bitcoin alone but i don't think because of that they don't have the ability to pose some strict rules on crypto currency, that doesn't stop them from placing rules on altcoin which can alter the market values...
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Then its a win win.... If the government have a crypto currency it shows that crypto currency is the future currency, that should give you the confidence to invest more into crypto currency even if its not the government currency...

 

[Setho]

I have heared of recent of how the Chinese government was making plans on how they were going to create their own first digital currencies of their fiat currency and I think its just a matter of time before other countries begin to join them.

 

[Chibson]

I don't think the public will adopt any government cryptocurrency. The main aim of cryptocurrency is for people to be in charge of their money and of course it is decentralized. So I don't think any government cryptocurrency will succeed.

 

[Justin]

India and China are our neighbors. China has its own crypto currency where as I read online that India is also planning to launch its own crypto cyrrency backed by central bank.

 

[Jesuyemi 08]

A while back I heard the US actually had their own cryptocurrency, or was looking to start one of their own. Is that true? if so, would you ever invest into a cryptocurrency owned and started by a government? I honestly don't know. As it could result in pay, but who knows how the government will work it out. They could impose extremely strict rules as well. What do you think though?

I don't even care if the rules governing the use of crytocurrencies is strict or not, all i want to see is a government that encourages the trading of crytocurrency. Nigeria government needs to learn from USA.
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A while back I heard the US actually had their own cryptocurrency, or was looking to start one of their own. Is that true? if so, would you ever invest into a cryptocurrency owned and started by a government? I honestly don't know. As it could result in pay, but who knows how the government will work it out. They could impose extremely strict rules as well. What do you think though?

I don't even care if the rules governing the use of crytocurrencies is strict or not, all i want to see is a government that encourages the trading of crytocurrency. Nigeria government needs to learn from USA.

 

[Sariana23]

Currently the government of my country created a cryptocurrency and named it petros, has tried to pay public employees which has not yielded positive results. Many people affected by the government have made large investments, but personally I try to get out of them at any cost.

 

[Justin]

Currently the government of my country created a cryptocurrency and named it petros, has tried to pay public employees which has not yielded positive results. Many people affected by the government have made large investments, but personally I try to get out of them at any cost.

wow, that's great. sadly, our government is far from creating its own crypto currency, in fact it has even made crypto currency illegal and there is no hint that the ban will lift anytime soon.

 

[Richard92]

It will be nice big government own and have their own cryptocurrency but I have not heard of any government with its own cryptocurrency.