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

  • Thread starter Thread starter Zevin
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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 just the true fact,because if the government start to control cryptocurency then the thing that makes crypto unique will be gone,because the price will be stable and that is what most investors do not really want.
 
Since the true cryptocurrency is a decentralized digital currency, the government cannot regulate it. Many people would not invest in one if the government created it and had complete control over it. It will be comparable to investing in fiat money.
 
How much more can I trust my government when it controls cryptocurrency? If the government does not follow protocol, it will not be handled in a way that benefits investors. The government must concentrate on governance.
 
I wouldn't do so if it's a cryptocurrency coin that's controlled by my government ad they are very unreliable and I don't just trust them. I would be better off investing in other projects bin the cryptocurrency market.
 
No I don't like it , cryptocurrency that is controlled by the government there will always be a tax we will always be asked to pay. And they always try to monitor every transaction and everything that is occurring in your block chain space.
 
A currency controlled by the government will not be one run as a profitable investment or with the intention of growing its worth since there's the fiat currency already established and accepted all over.
 
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The fact is that if a cryptocurrency is being controlled by the government then such is not a cryptocurrency because cryptocurrency as I have come to understand has broken away from government control.
 
Many individuals are drawn to cryptocurrencies because they are decentralized and not governed by a single institution or authority, so they could be wary of a cryptocurrency that is governed by the government. Individual investors will ultimately be responsible for weighing the potential risks and advantages and coming to their own investment conclusions.
 
It depends if the exchanges are supporting it and if the country is banning other cryptocurrencies and forcing people to just invest on their cryptocurrency one means it depends as china is doing like that.
 
I think that's the direction we're going, where the government is in control of it. One reason I am for this is because it would regulate how people can invest and use it. You won't have the sleazy people who make their own cryptocurrency, promote it, and then peace out when they have everyones money. If the Government controlled things, it'll probably be less of a risk to invest in.

Now for against it, is having the government control it, because we all know how governments have been known to ruin a good thing by adding bad regulations, rules, and so on.

So idk, it's a mix of both, I'm for and against it.
 
I dont do it, because this would not go against my beliefs in what cryptocurrencies are and their decentralization, would not invest in them to tell the truth, even if they assured me the deposits in it or anything like that.
 
No I would not invest in a cryptocurrency controlled by the Government. I do not trust the Government a bit so why would I even think of giving them control over my money. Cryptocurrency is meant to be Decentralized.
 
Every cryptocurrency that a government creates is so as to have control and Monopoly over it. I can never invest or make use of such cryptocurrency, never.
 
It will make no sense to invest in cryptocurrency that is totally controlled by the government because it will forfeit the natural features of cryptocurrency to be a decentralized payment system.
 
Yohanna said:
It will make no sense to invest in cryptocurrency that is totally controlled by the government because it will forfeit the natural features of cryptocurrency to be a decentralized payment system.
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You are right, it would not make much sense and it is that you have not understood the fundamentals of cryptocurrencies at all if you invested in said currency, I think that if a government cryptocurrency entered the market with the possibility of investing in it, few would, perhaps I would mistaken.
 
The beauty of cryptocurrency is in its decentralization. When government backs and introduces a cryptocurrency, it would want to manipulate it to make it valuable. I won't invest in a cryptocurrency backed by government.
 
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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I can invest in it because anything that is owned by the government is mostly trusted and it is less risky so I can even advise people to invest in it if they can have the money
 
When government controls cryptocurrency, that cryptocurrency has lost the very beauty that makes it a cryptocurrency. Government can just fix the value at the benchmark it wants thereby creating black markets.
 
no I do not think so. I never like to invest in such projects because I don't think it will benefit ordinary people and they will change rules everyday. And most importantly, I don't trust any government. I prefer to live for myself
 
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