Will you invest in a cryptocurrency entirely controlled by a government?

[Zevin]

In recent time, the news about governments launching their own cryptocurrency is becoming widespread. It started with China launching the digital Yuan about 5 years ago. The Chinese cryptocurrency is not yet available to trade. It is also heard that India is working on its own cryptocurrency that will be a digital version of the rupee. These cryptocurrencies launched by the government will be backed by the local currency deposit in their central bank. How much digital currency they will create will depend on the reserve they have.

The government-owned cryptocurrencies go entirely against the protocol of bitcoin. Bitcoin was launched as a decentralized digital currency that can be created (mined) by anyone. However, the government-owned cryptocurrency will be nothing more than the digital version of their fiat money.

 

[solomonmali]

But beyond the noise and the press releases the overwhelming majority of people – even bankers, consultants, scientists, and developers – have very limited knowledge about cryptocurrencies. They often fail to even understand the basic concepts.

 

[ibaad]

The options can seem endless and deciding which small business idea you find most interesting or want to start for yourself can be tricky. The good news is, if you’re considering starting a business, you aren’t going it alone.

 

[Xerryl]

But beyond the noise and the press releases the overwhelming majority of people – even bankers, consultants, scientists, and developers – have very limited knowledge about cryptocurrencies. They often fail to even understand the basic concepts.

True. Investing in a government backed Crypto is very risky.

 

[Royalty]

If government begins to control cryptocurrencies that means we are back to where we stop in physical cash and the rest.
Cryptocurrencies are not legal tender in any jurisdiction; they, unlike the conventional currencies issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market.

 

[btaliat]

The it is called cryptocurrencies again. It is now fiat currency. The aim of cryptocurrency is to by pass the government strigent rules and regulation. So if government is in control, I may not do it. Government never sincere to me.

 

[Akinwale701]

In recent time, the news about governments launching their own cryptocurrency is becoming widespread. It started with China launching the digital Yuan about 5 years ago. The Chinese cryptocurrency is not yet available to trade. It is also heard that India is working on its own cryptocurrency that will be a digital version of the rupee. These cryptocurrencies launched by the government will be backed by the local currency deposit in their central bank. How much digital currency they will create will depend on the reserve they have.

The government-owned cryptocurrencies go entirely against the protocol of bitcoin. Bitcoin was launched as a decentralized digital currency that can be created (mined) by anyone. However, the government-owned cryptocurrency will be nothing more than the digital version of their fiat money.

I see nothing bad in it as far as the system will be as good as it was before the government took over. Only someone who is a fraudster will be afraid or wary of investing into that cryptocurrency if being controlled by the government.

 

[nasiusman95]

Cryptocurrencies are not legal tender in any jurisdiction; they, unlike the conventional currencies issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market

 

[Briangsam]

This depends entirely on the country for me. If I'm dealing with a country in a very sane environment where trust, accountability and transparency are well pronounced and the interest of the citizens is at their hearts, I can. But if it is from a corrupt nation, I'm not interested.

 

[Dubai]

The real crypto currency can not be controlled by the government as it is a decentralized digital currency. If the government were to invent one and had total control over it, then many people would not invest in it. It will be similar to investing on the fiat currency.

 

[Michaellee]

In recent time, the news about governments launching their own cryptocurrency is becoming widespread. It started with China launching the digital Yuan about 5 years ago. The Chinese cryptocurrency is not yet available to trade. It is also heard that India is working on its own cryptocurrency that will be a digital version of the rupee. These cryptocurrencies launched by the government will be backed by the local currency deposit in their central bank. How much digital currency they will create will depend on the reserve they have.

The government-owned cryptocurrencies go entirely against the protocol of bitcoin. Bitcoin was launched as a decentralized digital currency that can be created (mined) by anyone. However, the government-owned cryptocurrency will be nothing more than the digital version of their fiat money.

I will for no reason invest i n government owned cryptocurrency. Over my dead body, God forbid . The unique thing about cryptocurrency is that it is decentralized, no one has control over it , any bodybvan buy or mine it at any time. But you see the government owned cryptocurrency, it will be fully controlled by the government.

 

[Zevin]

If government begins to control cryptocurrencies that means we are back to where we stop in physical cash and the rest.
Cryptocurrencies are not legal tender in any jurisdiction; they, unlike the conventional currencies issued by a monetary authority, are not controlled or regulated and their price is determined by the supply and demand of their market.

You have a point. If the cryptocurrency is launched by the government it will be more like fiat currency that you cannot mine and you are not in control. Furthermore, it is government currency and you are bound to pay taxes on each transaction and you end up losing a lot of money. Contrarily, it might add authenticity to cryptocurrency.

 

[idhans]

In recent time, the news about governments launching their own cryptocurrency is becoming widespread. It started with China launching the digital Yuan about 5 years ago. The Chinese cryptocurrency is not yet available to trade. It is also heard that India is working on its own cryptocurrency that will be a digital version of the rupee. These cryptocurrencies launched by the government will be backed by the local currency deposit in their central bank. How much digital currency they will create will depend on the reserve they have.

The government-owned cryptocurrencies go entirely against the protocol of bitcoin. Bitcoin was launched as a decentralized digital currency that can be created (mined) by anyone. However, the government-owned cryptocurrency will be nothing more than the digital version of their fiat money.

It is very risky to invest in a government-owned cryptocurrency. Cryptocurrency is a decentralized coin, and currency and nobody should be compelled to invest in a particular cryptocurrency. Government can bring up their own cryptocurrency but it is left for me to decide on which cryptocurrency to invest in.

 

[Qasim Raza]

’s hard to tell someone whether to follow one’s dream job or go for a career that makes money, but not job satisfaction. It is a matter that largely depends on the situation a person

But, even so, following your desires can leave a sense of well-being and happiness on everything you do. While, there is no doubt that this is a question of opportunity and the hand you’ve been dealt with, following one’s passion seems more appealing to most. However, how to know the line between when it’s unproductive to pursue a career you’re passionate about, and to a different (financially better) rou

 

[Ridorz]

Nothing can still stop me from invest on crypto currency if a government take over of it because no body can assure of what will going to happen if government take over of it. I think that they will just make it be a legal currency, though, the transaction fee may cost.

 

[eenya00]

Once a currency becomes centralized or owned the government, then it losses it essence as to why it was created in the first place, which was decentralization and void of government interference. So if a cryptocurrency is managed by the government, then am not investing.

 

[Dowenship]

In recent time, the news about governments launching their own cryptocurrency is becoming widespread. It started with China launching the digital Yuan about 5 years ago. The Chinese cryptocurrency is not yet available to trade. It is also heard that India is working on its own cryptocurrency that will be a digital version of the rupee. These cryptocurrencies launched by the government will be backed by the local currency deposit in their central bank. How much digital currency they will create will depend on the reserve they have.

The government-owned cryptocurrencies go entirely against the protocol of bitcoin. Bitcoin was launched as a decentralized digital currency that can be created (mined) by anyone. However, the government-owned cryptocurrency will be nothing more than the digital version of their fiat money.

Probably by then its the only mode of operation and anything that involves the government its a must sometimes that you just do.
So probably everybody will be involved.
Quote of the day:
Work and pray as been the phrase to encourage people for years! and that be said is true! Always work and pray

 

[GIFTMICHAEL]

I can't even trust my government how much more when our government controls cryptocurrency. Government don't follow protocol they will not handle it in such a way that will benefit investors. Government has to focus on governance.

 

[Yan]

I think cryptocurrency controlled by government will defeat the general idea of cryptocurrencies itself, it is an encrypted form of currency it is fully digital and shouldn't be controlled by any institution or body. a cryptocurrency controlled by government should basically the seen as a Fiat currency

 

[akinlolu99]

The public authority possessed digital currencies go completely against the convention of bitcoin. Bitcoin was dispatched as a decentralized computerized cash that can be made (mined) by anybody. Nonetheless, the public authority possessed digital money will be just the computerized adaptation of their fiat cash.

On the off chance that administration starts to control cryptographic forms of money that implies we are back to where we stop in actual money and the rest.

Digital forms of money are not lawful delicate in any locale; they, dissimilar to the ordinary monetary forms gave by a financial power, are not controlled or managed and their cost is dictated by the market interest of their market.