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

  • Thread starter Thread starter Zevin
  • Start date Start date
The real thing in fact is that if a cryptocurrency is being controlled entirely by the government then it is no longer a decentralized coins I'm not going to invest in it.
 
I will stop investing in crypto currency once the government take over and start controlling it because it will not make sense anymore.
 
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.
 
I believe that government control of bitcoin will undermine the overall concept of cryptocurrency; it is an encrypted form of currency that is totally digital and should not be governed by any institution or entity. A government-controlled cryptocurrency should be treated as a fiat currency.
 
If government takes over a particular cryptocurrency than they have defeated the purpose for which cryptocurrency was created for. Cryptocurrency was meant to be decentralized.
 
When I am investing in cryptocurrency all I want to make is profit. So if a government controls a particular cryptocurrency and there will profit on it I will probably invest for short-term.
 
This means it is not going to be decentralized so I will look at the utility they bring. If it is something that actually make sense then I am going to look into it.
 
Regular currencies are already being controlled by the government to creating a cryptocurrency that is controlled by the government actually does not make any sense at all
 
Setfragil said:
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.
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That is just the huddle here,because one cannot really see the difference between a fiat curency and digital cryptocurency,the coin will be stable and it will not be unique any more,the fluctuations is the star poin here.
 
Government controls on the operation of cryptocurrency is be a disaster because there will be alot of regulation and restrictions to people using it and the kind of investment made by people. It will be more secure but..
 
Normally cryptocurrency was designed to be encrypted but when the government seems to control any cryptocurrency the encryption in the blockchain technology will be lifted. That was not the purpose of the existence of cryptocurrency as a whole and I wouldn't invest.
 
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.
 
I wouldn't want to invest in cryptocurrency that is being controlled by the government . If government happened to control cryptocurrency they will made it compulsory that every holders must pay a certain free as we are paying when transacting with the bank
 
You have to understand that if the government is going to be involved in any cryptocurrency then it is no longer a cryptocurrency at all. It is going to be just like any other currency and I do not want it.
 
Mika said:
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 wthey 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 digitalversion of their fiat money.
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Investing in a c et ot
Mika said:
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
Click to expand...
Investing in a cryptocurrency controlled by the government is a big no-no in my opinion. This is because the government will proceed to influence the value of the coin as they have done with physical cash and this will be disadvantageous for all crypto traders
 
Well it all depends on an individual choice to make, though to me I will prefer to invest in a cryptocurrencies where it is been entirely controlled by the government because it will seem more safe and secure.
 
Mika said:
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.
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No I will not, something amazing about crypto is that should be decentralized otherwise investment in it would be a waste of time.
 
If i finally decide to invest in crypto currencies, i doubt i'll invest in any crypto currency controller by the government because like you said, it would go against the protocol of bitcoin.
 
Anything that's controlled by the government is actually not for me because they are very selfish and need a brain wash actually. I just pray and hope they don't regulate cryptocurrency ever and let it be just the way it is now.
 
Cryptocurrencies, unlike traditional currencies issued by a monetary authority, are not governed or regulated, and their price is determined by the supply and demand of their market. As a result, they are not recognized as legal money in any state.
 
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