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

  • Thread starter Thread starter Zevin
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If the government controls the crypto currency, then it would be filled with so many limitations as the government would want to be supreme over us. I might not invest into it and if i finally do, it would be just very little
 
akinlolu99 said:
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.
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Nowadays there are many such forms through which you can earn money by investing but most of them are thrown away and that is people's money.I would just like to say that there should be such a direct approved form from Government , through which we can earn money by investing.
 
There is already online fiat money for most money in different countries so I don't think that I would prefer government crypto because it's a known fact that the government always have a motive that is not always beneficial to the masses.
 
The most important thing when it comes to all kinds investment is making profits from your Investments which is why I don't really care whoever owns the cryptocurrency but the profit I get to making return.
 
Royalty said:
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.
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That is true,because the main essence of cryptocurency is to decentralise the controle of the currency trade,and government involement will not make this happened.So the voliatility of the currency will be gone
 
I don't think can trust government if government control the cryptocurrency because if government own the cryptocurrency investing on it is risky.
 
Justin said:
I think this is the safest option if you want to invest in crypto currency. The price will no fluctuate too much and everything about it will be completely legal
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Yes I can invest in the cryptocurrency that is entirely controlled by government that will prove to me that it is legal and can be a reliable crytocurrency
 
solomonmali said:
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.
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I completely agree with you that most of these people do not have a great understanding of what cryptocurrency is and how it works this is the reason why most of them do not believe in it.
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Dubai said:
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.
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I completely agree with you because the government would never invent any payment platform that is high in volatility because when the government invent a currency what they look out for it for it to reuse as a measure of payment and not a means of an investment.
 
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Cryptocurrency controls by the government will be regulated and it activities will be closely monitored depriving people the secrecy and privacy that they enjoyed. The currency will also be stable defeating volatility reason why people invest in cryptocurrency.
 
Royalty said:
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.
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The control of cryptocurency by government would take whatever that makes the cryptocurency world unique to be eroded.why a lot of persons are intrested and engage fully into it,is because of the voliatility of the market,and that government cannot gaurantee.
 
I don't see the need why I should in a crypto currency that is controlled by the government since they already control the legal tender in the money market
 
Honestly, my answer is no, I think the only thing that can convince us that the government can't track or monitor the transactions done on the coin which is highly unlikely.
 
Trexxxy said:
Honestly, my answer is no, I think the only thing that can convince us that the government can't track or monitor the transactions done on the coin which is highly unlikely.
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I agree with you. Any cryptocurrency own by the government will be closely monitor. There won't be strict privacy that is being enjoyed by regular cryptocurrency users.
 
Many governments are exploring Central Bank Digital Currency or CBDC in short, but this is different from crypto currency. CBDC is a currency that is creating a reserve of equivalent fiat money in the centrl bank. Therefore, this is not something that will make you a lot of profits.
 
GIFTMICHAEL said:
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.
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The use of crypto currency will be useless if government could tamper with the use of crypto currency and establishes their own coin, the coin will be volatile and controlled.
 
Any cryptocurrency that will not give me full control over my fund will not work for me because it comes with a lot of challenges and security concern.
 
Of course not, I will not invest (not trade) in crypto or digital money, which is controlled by the government, because government digital money will be pegged to fiat money which is at risk of inflation. also the value of government crypro or digital money will not increase in value or there may be no price increase even though I save ten years, even the value of digital money will decrease.
 
It is very important we understand that cryptocurrencies are decentralized which means government can't control it but regulate . I have not hear any government has launched their cryptocurrency rather a digital version of their fiat Currencies
 
Shigobad2020 said:
The use of crypto currency will be useless if government could tamper with the use of crypto currency and establishes their own coin, the coin will be volatile and controlled.
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Government aren't loving the idea of creating volatile coins. They prefer creating coins that remains stable, that's why their coins can't be in-demand.
 
Any crypto currency owned and control by a government will not be a good for investment because they will have same value with the country currency and the currencies don't grow like other coin
 
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