Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: emmybd on January 15, 2021, 07:34:49 PM
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.
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China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.
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I think the CBDC is just a government tool that aims to:
+ Take advantage of the advantages of crypto: high speed, cheap transaction costs, transparency;
+ Increase the ability to control the national financial situation when all transaction information is transparent;
+ Coping with the growing crypto wave in the market.
I don't count CBDC as a cryptocurrency because it is centrally managed. It is just a form of digital money in a bank account that is transferred to private blockchain by the government and banks only.
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most likely if the government issued the cryptocurrency of a country it will be successful...
but I am still curious, if it is true that they will issue their own country coins then which blockchain token will they use because currently there are many platforms that offer the best and fastest blockchain.
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Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market
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It seems like other developed countries have many tricks to use blockchain technology to make transactions in their country.
Interest rates are lower and transaction costs are also low because blockchai technology is more transparent and does not require a main server to record information. I think there are countries that do CDC so that they can easily access the accounts of corruptors
;D
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I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready
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I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready
Yes , I agree with your opinion. If the government have plans to launch their own crypto currency, It will be a good thing for crypto world.. Many citizen will know about crypto currency and I believe We will see high demand.
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If you can't win, take the lead! This principle has been in effect for several thousand years. To be honest, such a development of the situation was to be expected as soon as cryptocurrencies began to gain a huge army of followers. Initially, it was the lot of geeks, but today...
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Governments of some countries may add their own cryptocurrencies here. The government of every country wants to benefit in the commercial field. The government works for the development of the country's economic infrastructure and every sector of the country. That's why they look for some benefits to transact. But now the benefits can be through the creation of their own cryptocurrency.
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Yeah, it is about CBDC, China is one of those that has been developing this kind of digital currency. they always want theirs to be powerful in the world, not to be passed by others. And this currency emerges because of the progress and development of the cryptocurrency and the use of blockchain technology that is more and more developing and accepted by the world. I agree that this may be used for their own being for obtaining benefits from the name of cryptocurrency.
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Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market
true. also some people maybe feel skeptic about goverment controller the currency it self, depend on people react or respond i think!
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Don't worry buddy,
Every country has a much better future goal for the future of the payment transaction system, but the government is still a little afraid of using blockchain, because nlockchain transactions can see that the amount of funds flowing to various wallets cannot be deleted on the blockchain ledger.
Uniquely, if they accept Bitcoin as a payment option, then this situation will increase the number of requests for Bitcoin as a state deposit asset, with the aim of gaining profits in the future.
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I think this is a good sign in the crypto industry, that many countries will allow their people to use it. If governments launch it, so many people will know it. Many demand will come.. Be ready
Yes , I agree with your opinion. If the government have plans to launch their own crypto currency, It will be a good thing for crypto world.. Many citizen will know about crypto currency and I believe We will see high demand.
For the people, stable coins of the central banks of states will be like another type of non-cash payments with the participation of the state currency. It seems to me that few people will see a connection with cryptocurrency in it. In addition, one of the goals of creating stable coins of states is to compete with decentralized cryptocurrencies in the field of means of payment. However, in general, states issuing their stablecoins will create additional convenience for the people.
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China plans to launch DCEP later this year. A payment system created by the Chinese state and known as Digital Currency Electronic Payment (DCEP). However, DCEP will be centralised and state-run, unlike Bitcoin or Ethereum which are free of state control.
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Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market
true. also some people maybe feel skeptic about goverment controller the currency it self, depend on people react or respond i think!
I don't believe it will happen. Government cannot control the crypto currency, although the government have plans to launch their own crypto currency. Because crypto is decentralised system, I cannot image if crypto will be centralised.
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I think Crypto is getting more advanced nowadays. And the wider its reach. With more and more countries wanting to make crypto, I think crypto will be approved by the majority of countries in the world.
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I know so far China government already proposed that they will launch their own crypto The digital yuan. But I don't know when they launch it . But Indian government also proposed bitcoin banking system.
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CBDC may be issued by the government and they may also be willing to have powerful digital currency. However, will it really happen? As what in China right now, that the government really expects a big chance for their CBDC to be accepted and also spread around their country and more to worldwide. however, that is CBDC, probably it will only decrease the chance of many coins o develop
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I don't think it is a cryptocurrency, the government just plans to launch a digital currency. It is not the same between cryptocurrency and digital currency. Digital currency can be a form of a national currency, for example like Yuan Digital currency. I call it not a cryptocurrency.
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Governments in some countries are considering creating their own cryptocurrencies. I think it is the right decision of the governments of the country. There is a lot of popularity nowadays. Will be in the future. The governments of each country will approve the cryptocurrency. The level of transactions will increase further.
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Venezuela already has its own state-backed cryptocurrency called as Petro but I am not so sure if it is really a very successful one. Any update on Petro can be appreciated. Anyway, cryptocurrency is an open technology, so anybody can make his own crypto, much more a country no matter how small or even big. Now, one of the most important features of cryptocurrency is decentralization and this is one big lacking in state-backed cryptocurrency because the government at hand is always in control. How these state-sponsored digital currencies will be faring in the future depends on many factors, and it is hard to predict based on things existing presently. Hope they will also be successful because those currencies can actually be linked to real cryptos.
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The governments may see the chance to have a better financial system with their new digital currencies. Since China already launched Yuan digital currency, other countries seem to follow this way as well. Basically, we don't need to worry about this, it indicates that the governments agree about the power of digital and crypto currencies.
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Most developed countries has seen the great and successful movement of cryptocurrencies like bitcoin and there intend on joining the game there wants to launch thier own cryptocurrency and country like China has already launched thier own cryptocurrency but this isn't a problem no matter what thier coin can't kick out bitcoin or won't even be like Bitcoin in the future.
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Yes, thats the hot topic in 2020 and I believe it will continue beyond 2021, The CBDC's are not cryptocurrencies instead it was a Digital version of the existing Fiat currency of any respective countries that has a plan to develop its digital version of its own native currency or fiat currency so technically it is a stable coin.
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I need proof for a stable coin created by the government because I think it is clear evidence for the government to support cryptocurrency.
It is not just a "plan" but a direct proof that creates a stable coin to be marketed throughout the cryptocurrency market.
In the case of any business the "plan" is just a word to convince oneself without looking around and real evidence is "the result".
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No problem to me if the government launch their own cryptocurrency as long it's not a centralized crypto because there are some government corrupt so they can manipulate it if they want, too risky to use it. It would be better if they make a decentralized cryptocurrency.
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I will look at stablecoin in each country, the goal is good to make all digital transactions easier with newer systems using cryptocurrency.
I support this idea because if more people use cryptocurrency, there will be more people who are more familiar with crypto and they will choose existing coins like those listed on coinmarketcup.
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For a government that creates cryptocurrency, I think it doesn't matter and doesn't need to be exaggerated because the government also has the right to create what they want to enter the cryptocurrency market.
Then, for now, the government has not seen fully creating coins in the form of cryptocurrency because where I live to create cryptocurrency requires very strict rules.
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No problem to me if the government launch their own cryptocurrency as long it's not a centralized crypto because there are some government corrupt so they can manipulate it if they want, too risky to use it. It would be better if they make a decentralized cryptocurrency.
I think there would have a conflict interest between government which is centralized and crypto which is more on decentralized. If you wish the government will create their own crypto in decentralized platform. They cannot do that otherwise they are promoting crypto investment which they are opposing it.
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China has been at the forefront of such efforts. The Chinese government wants to expand its pilot program for a homegrown electronic-payment system, which shares some features with bitcoin and other private cryptocurrencies. Also that is already happening and in Estonia.
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No problem to me if the government launch their own cryptocurrency as long it's not a centralized crypto because there are some government corrupt so they can manipulate it if they want, too risky to use it. It would be better if they make a decentralized cryptocurrency.
I think there would have a conflict interest between government which is centralized and crypto which is more on decentralized. If you wish the government will create their own crypto in decentralized platform. They cannot do that otherwise they are promoting crypto investment which they are opposing it.
I think government will create their own crypto currency, But I think the government will use centralised platform . They will control this coin. I don't believe in government will create decentralized platform. Let's see.
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It is very interesting why many governments plan to have their own digital currencies. I think the governments have realized that digital currencies will be more effective to apply in the future. So, they have already prepared it since the very beginning, they have started to create it now.
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This is no longer a secret for a long time. After a while, virtually all states will have their own digitalized central bank currencies. Governments have long recognized that digitized currencies are much faster, more efficient, more convenient and cheaper to service any other type of cash or non-cash money.
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Yes, there are indeed plans in almost every developed country to create their own national currency. Kitty was the first to announce the creation of a crypto-unit; in theory, everyone pulled up after these statements.
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The use of blockchain technology in order to pass it on to other owners is very difficult. There are so many types it's hard to say, and there are so many types it's hard to say. Blockchain technology is more transparent and there's no need to record information.
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certainly being able to tax crypto attracts many countries and governments china already has its official altcoin, venezuela as well, usa and europe are organizing to launch their own and i believe that more and more countries will follow their example
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Many countries understand that cryptocurrencies are the future and therefore some countries want to create their own cryptocurrencies and this is of course correct because cryptocurrencies are becoming more and more popular and after some time everyone will know at least a little about cryptocurrencies and of course many countries will be able to receive huge money from their national cryptocurrencies.
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They have power to create their own crypto it is because they are capable of. Not really an issue if the country will have their own crypto whereas the country has fiat coin circulating in their territory. Crypto will be the hot topic in the future world news.
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Sooner or later, all governments will have their own cryptocurrency, with their semi-private or private blockchains, so that no one can see where people's money is going. But before they can do all that, they will have to educate the elderly population about its use and operation, and that is not easy for any government.
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In the end they recognized the quality of crypto technology, and it could be said that this could be a reference to open wide to the number one technology in the world. At least it can be said that this will be good news for the future and towards a bright future.
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Yes, they will have to admit it @Max Way. What I do not like is the idea of some countries, which want to eliminate cash, that would make them have much more control over the populations than they already have. If at least blockchains were public I would not be against it, but I doubt they are public.
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As the adoption of cryptocurrencies have grown worldwide, governments around the world have considered the possibility of issuing their own versions of digital currencies. Crypto enthusiasts often see this as an effort by central banks to retain control over their sovereign currencies.
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Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market
I don't think so. I think if the governments take the decision then our crypto market will reach in the top position. There are lots of investors will be added here. It will be flourished all over the world. Every thing regarding the issue which will taken by the government will be successful.
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Sooner or later, all governments will have their own cryptocurrency, with their semi-private or private blockchains, so that no one can see where people's money is going. But before they can do all that, they will have to educate the elderly population about its use and operation, and that is not easy for any government.
yes, I think It is true, sooner and later I think the government will create own crypto currency. As OP said I also heard Some government have plans to launch their own crypto currency. So we will see the digital era is coming soon
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@legendary1979 I think China and Russia (I think those two countries were pioneers) are testing their own blockchains. They do not give much public news or give test results, but when they do it with a certain secrecy it is for something. As I said, it is a matter of time, it all depends on what governments are capable of doing and what people are capable of supporting.
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@legendary1979 I think China and Russia (I think those two countries were pioneers) are testing their own blockchains. They do not give much public news or give test results, but when they do it with a certain secrecy it is for something. As I said, it is a matter of time, it all depends on what governments are capable of doing and what people are capable of supporting.
No one doubted that before creating their own national cryptocurrency, totalitarian countries would create their own blockchain so that not only there would be no risks from other platforms, but it would also be possible to create some conditions for controlling users of national cryptocurrencies.
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We are not interested in our own cryptocurrency. This way I can trade on regular currency pairs on the stock market. Cryptocurrency is interesting for its volatility. If there is a cryptorub, then most will not even notice it.
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China will be one of the first country to use crypto publicly as a national currency. They will be leading in this field.
One day all will come to the crypto field for sure. The next revolution 7s going to be the crypto revolution.
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I know so far chaina government already opened their roadmap to launch the digital currency Yuan in the cryptocurrencies market for development of bitcoin market. Another government already opened bitcoin bank in India.
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China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.
It's big news last year and so much depends on the success of the idea of a country launching their own Cryptocurrency it's been done in the past but developers failed to capitalize on it because Cryptocurrency is not yet well accepted by many countries, but this is China and they have a chance to prove that it can work, many countries will adopt that idea if it succeeds.
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Just learning about the challenges they face when they on board merchants to see if there is a technical solution we could build to help
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If the governments of some countries think, or create, their own cryptocurrency. In that case I think a much higher transaction fee will be required.
There are many revenue taxes where 17-25% tax has to be paid. The activities of the government of some countries will be like this. So the crypto community will suffer. However, with the increase in the level of transactions in some countries, the revenue may decrease. There is a lot of writing in newspapers and magazines about cryptocurrencies. According to experts there, it is not possible to collect any revenue from cryptocurrency. So not allowed in most countries.
If the government of a country works for the betterment of the nation after creating its own cryptocurrency, it will surely succeed. The country will develop with an increase in the amount of total resources.
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I think this news is a positive thing in crypto, and will be able to make the price in the market increase. This will be very useful for the advancement of crypto. Because of course more and more countries will agree to crypto.
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.
I think It is a good idea if some government have plans to launch their own crypto. It is possible to happen. Bwcaue digital era will come. I hope we will see many crypto currency and every countries has own crypto.
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This is nothing new since the government have seen how popular crypto have come to be and how transparent blockchain can be in delivering of services but the only draw back is they are not given the already existing project a try by building on them or lobby for cooperation with them so that there won't be too many coins in the market and also give a solid backing to an already existing project.
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I think this news is a positive thing in crypto, and will be able to make the price in the market increase. This will be very useful for the advancement of crypto. Because of course more and more countries will agree to crypto.
I agree, these countries are big countries and their influence is tremendous for the world. And I am sure that Cryptocurrency will continue to grow, more and more countries will create their own cryptocurrency, and the competition will certainly be tougher.
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The question is much deeper than it seems at first glance. Any economy can function absolutely calmly without cryptocurrencies. It is also indisputable that cryptocurrency will continue to develop.Money has always been the prerogative of the state, which is why the state will seek to take this sector under its control.
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I am sure that you mean the CBDC. CBDC is true, going to be launched by several countries and some of them have been issuing this. This may be a step forward in crypto development and their chance to make their own digital currency using blockchain technology. However, I do believe that it may not replace the top coins unless they are really big and make certain big changing rules.
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It's actually a very positive move that's doing well in strengthening the grounds for blockchain and cryptocurrency projects to thrive very well. Major countries from around the world are already considering a national cryptocurrency, recently i saw that the Indian legislatures are considering raising a proposals for national cryptocurrency, if would be a great idea to see adoption increasing steadily.
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Too scary when we think that our information is beige expose and even they will say that this will be hidden for the privacy of an investor we still don't have assurance that it will come always the way it has to be since attackers are so gifted.
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I don't know any updates news but know only China and indian governments already proposed their own cryptocurrencies launching plans. May be it would be helpful for bitcoin and others cryptocurrencies.
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I think it will make the government want to create its own coin because it wants to manipulate its price and try to make a profit on its own, therefore it will make a lot of people think more about buying it because the risks are very clear.
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of course, China is ahead of everyone, they are already testing or have already released their digital currency, I would not want other countries to start the race, as it was before, because each country will start settlements with its own cryptocurrency, and misunderstandings, gigemony, etc. will begin again.Here is bitcoin, decentralized, good, here will be the standard of payments among countries, so as not to quarrel ???
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Government has got to see the benefits of cryptocurrencies and wants to join the game too, crypto has much to offer that's why we hear news of government wanting to create thier own coin because there know there will make alot from it and it will help solve some problems and for sure this is a clear sign that crypto is growing rapidly.
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Not only Venezuela, China, USA, Russia also India government take the decision that they launch their own digital currency. They try to ban other crypto currency also. Most of the country already launch but they light out it to the people with in short of time.
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I think this news is a positive thing in crypto, and will be able to make the price in the market increase. This will be very useful for the advancement of crypto. Because of course more and more countries will agree to crypto.
I agree, these countries are big countries and their influence is tremendous for the world. And I am sure that Cryptocurrency will continue to grow, more and more countries will create their own cryptocurrency, and the competition will certainly be tougher.
That's true, I think If the government will create own crypto currency, I think It will have good impact for crypto world. I believe bitcoin and others will be accepted by all countries. Hope it will come true.
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I think the government will not be able to create it because this government can only supervise it without having to create what has been created in the cryptocurrency business.
An example is : the gold trading business, the government cannot create gold but the government can only become a forum for gold trading rules.
We equate with cryptocurrency : The government will find it difficult to create cryptocurrency and it is better for the government to only provide rules and oversee the course of cryptocurrency trading.
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If some big countries will be able to make their own crypto coins, then I believe this crypto trend will be more advanced and more and more people will believe in crypto. So that this crypto can be accepted as a legitimate investment.
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I think the government will not be able to create it because this government can only supervise it without having to create what has been created in the cryptocurrency business.
An example is : the gold trading business, the government cannot create gold but the government can only become a forum for gold trading rules.
We equate with cryptocurrency : The government will find it difficult to create cryptocurrency and it is better for the government to only provide rules and oversee the course of cryptocurrency trading.
You are wrong, governments can create their own cryptocurrency. For example, in Ukraine they want to create a crypto hryvnia together with stellar. Russia is also studying this issue.
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I know so far chaina government already opened their roadmap to launch the digital currency Yuan in the cryptocurrencies market for development of bitcoin market. Another government already opened bitcoin bank in India.
I think both news are good news for cryptocurrencies. This will accelerate the development of the cryptocurrency world and in addition, I believe that all the countries that have not yet adopted or legalized cryptocurrency will come forward with new initiatives.
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Government of different countries can go ahead and create their own crypto currencies but personally, I will never buy or store those cryptos owned by the government except the said crypto is decentralized, cus I know they will want to centralized it so that they can be able to monitor what amount each person hold or trades and who in particular owns or trade the coins so that taxing will be made on those transactions, and one never can tell, they can possibly block people out of their wallet for no or little reasons.
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@Fivestar4everMVP I'm sure that if governments create their own cryptocurrencies, they will not be decentralized, and of course those blockchains will not be public. Everything will be in the hands of very few people and everything will be private, except for losses, that would surely be public to get more money from citizens. If governments want to do that, they don't have my support.
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There are reasons countries are looking seriously into Cryptocurrencies and I believe this decade we are going to see them come to market but the question is do you trust their currencies, if they can destroy their national currencies what is the assurance that they won't destroy their own Cryptocurrencies
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I think it's a good thing, if really big companies are going to make their own coins, then this crypto will look more real and the better for investment. So that more and more people will join.
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I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world. And this is really great news for the development of Cryptocurrency in general.
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Don't worry, even they create their own cryptocurrency this will not be like Bitcoin as the king of crypto. They may be influencing crypto but I think that they will not give a big influence and a bad result. Just let's see how their stablecoin will exist in this crypto market
true. also some people maybe feel skeptic about goverment controller the currency it self, depend on people react or respond i think!
On the other hand, people's trust in their own state is much higher than in a cryptocurrency created by someone unknown. Therefore, stable coins of the central banks of states, that is, their digitized national currency, will be in demand. Many people will appreciate the functionality of digital money even better than the lack of decentralization. Therefore, the digitized currencies of the central banks of the states in the near future will be issued by almost all states.
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I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world. And this is really great news for the development of Cryptocurrency in general.
As we know, Chinese government has banned bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.
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As we know, Chinese government has banned bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.
The Chinese government is not going to create its own cryptocurrency, it has created the digital Yuan, it is different. If I remember correctly since I read the latest news, there is already a small part of the Chinese population testing the project, but they still have to do a lot of testing. The E-Yuan is a CBDC or Digital Currency of the Central Bank, it has nothing to do with cryptocurrencies or private, semi-private or public blockchains, it depends on the Central Bank of China.
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China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. The digital yuan will negate one of bitcoin’s major draws: anonymity for the user.
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I really agree with your opinion, a big country like China has a very big influence in the world. China also has a very large population, if a large country like China creates its own Cryptocurrency, it will definitely make Cryptocurrency more advanced, and of course this Crypto will get strong support from the community and the world. And this is really great news for the development of Cryptocurrency in general.
As we know, Chinese government has banned bitcoin mining.
If the Chinese government will create own crypto currency, I get the point, It will have good effect for crypto word.
Hopefully It will happen soon.
I totally doubt if anything the Chinese Government or any other Government across the world is creating in terms of digital currency is anything close to a cryptocurrency. The reason why most of these governments are baning and against crypto of cause if because they don't have full control of it so when they do create whatever it is they call their own digital currency, it wouldn't be a cryptocurrency and cannot be traded the same way crypto is traded and on the same exchanges, so I don't see a positive effect from that.
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Its easier said than done. Many countries have aspirations to launch their CBDCs but the logistics involved in the launch is crazy. And the citizens have to achieve a certain level of education to adopt it
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Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.
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Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.
CBDCs are created precisely for that, to control. The governments say that it is a digitization of the economy and that it will be an improvement for our country, but in reality everything is to continue doing what they have always done, to control the citizen. If one day cash ceases to exist, we will become modern slaves. Being able to control citizens' money with a single click is another way to silence the population.
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye.
There are so many countries in the world and we have not seen the first cryptocurrency that is issued by Central Bank yet. If would be profitable as they could get a large share of the stablecoin market, probably. So they don't really want or can't decide what they want.
The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
If anyone in the system is able to view the transaction details, then surveillance goes both ways, right now any government can confiscate bank account and cash of its subjects and usually not many persons know about when it happens.
If this state issued cryptocurrency allows to freeze accounts, and if they do it, then this will be public information.(unless the cryptocurrency is total fake with the purpose that a blockchain merely records transactions made through a central authority)
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Numerous people argue that it is a good idea because they are not technically cryptocurrencies as they were created to be centralized and operated by the government financial institutions. However, these currencies will still use blockchain technology and provide a faster and cheaper means of transferring money under the eye of the government as something like a digital version of their local currencies.
CBDCs are created precisely for that, to control. The governments say that it is a digitization of the economy and that it will be an improvement for our country, but in reality everything is to continue doing what they have always done, to control the citizen. If one day cash ceases to exist, we will become modern slaves. Being able to control citizens' money with a single click is another way to silence the population.
Yes, the emergence of stable currencies of the central banks of states, on the one hand, will make it possible to reduce the cost and make more efficient the process of circulation of non-cash money in the state, and on the other hand, it will really strengthen control over the financial expenditures of citizens. This process is all the same irreversible, since it is impossible to stop technological progress. However, we must correctly navigate these processes and choose the right funds for our transactions and, of course, not abandon the use of cash, which is fairly anonymous.
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Coin from central banks like only governments, ordinary people will try to avoid interaction with it as much as possible.
Now we can see the experiments of China and in my opinion it is much worse than paper money.
Imagine you might wake up in the morning and find that you can't spend your money because they have lost their shelf life.
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Coin from central banks like only governments, ordinary people will try to avoid interaction with it as much as possible.
Now we can see the experiments of China and in my opinion it is much worse than paper money.
Imagine you might wake up in the morning and find that you can't spend your money because they have lost their shelf life.
And this is probably true for most government e-money projects. Quote from www.euronews.com/next/2021/07/14/what-is-the-e-euro-everything-you-need-to-know-about-the-new-digital-euro-project
ECB is already warning that it would likely cap the deposits that individuals can own there – suggesting a threshold of around EUR3,000 – or tax the holdings above a certain amount.
Like they want to reinvent the normal bank account, only worse. But this is also some kind of prisoners dilemma among countries, sooner or later some government will issue a state-backed stablecoin that is usable and safe like regular crypto.
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I hope that the cryptocurrency created by this bank is able to adapt to the cryptocurrency environment that is always in different directions and always becomes an enemy for banks that always want to dominate the market.
Whatever is made into news, hopefully it's good news for the cryptocurrency market because I also hope that every day cryptocurrencies don't get bad news.
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The launch of their own cryptocurrency, individual states, will lead to the economic well-being of the citizens of the country, which has its own cryptocurrency. It is possible to raise liquidity using instruments is achievable.
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They began to realize that they have nowhere to go from the cryptocurrency, so they are introducing state-owned cryptocurrency to keep it under control. Since now the government is missing out on a very fat chunk of taxes, which no one pays them.
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It has already been noticed that some countries want to bring their own cryptocurrency into their economy, but it will have the same popularity as bitcoin or ether.
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That's right, Cryptocurrency continues to grow and is increasingly in demand by the community. And of course this is what triggers a country to create a new Cryptocurrency, of course later every Cryptocurrency that is launched will have different values from one country to another. But I hope that in the future if this has been realized, then the competition that occurs is healthy competition between these Cryptocurrency coins.
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Yes it's true according to recent news of China . they announce they will be created a new own cryptocurrency by the government not only china Russia and USA also do the same . I think the plan shall be better for developing cryptocurrency .
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Developed countries would be great for trading if their own cryptocurrencies were brought to market. Indigenous people will trust the most in terms of transactions. So if different people bring their own cryptocurrency to the market then it is considered as a great result. And I welcome that decision. If the governments of the developed countries start doing it first. Later, middle-income countries will have a tendency to market their own cryptocurrencies.
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when the government starts launching its own cryptocurrency, it is certain that it will not increase the price because it will only circulate locally and cannot go international because we all know that there are no clear regulations regarding the use of cryptocurrencies in various countries.
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Many countries are working on it, among them China has already made it but it is not fully publicized now, It can be said that the process is on going . On the other hand, the Indian government has said that they will use their own currency. In this way each country can be seen at a time that has created its own currency.
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I just had a sneaky thought as I was reading your post. Those middlemen like Visa, Mastercard, Payoneer etc are trying ways to reinvent themselves and remain relevant, thus their vested interest in crypto. In a few years, when CBDCs would be popular, their usage would have stopped
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The governments of some countries are trying to bring their own cryptocurrencies to market. Because cryptocurrency has already been approved in their country. Various services have been introduced for cryptocurrency transactions in different countries or in economically developing countries. It is possible to transact in their country like banks. Again, Bitcoin or other currencies can already be traded directly at many traditional banks. So they are now thinking of launching their own cryptocurrency.
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.
that's a good news if some government will launch their own crypto currency.
I have read many opinions here, they said digital era will come
So, crypto currency is the future currency.
Everything will be crypto at the coming future
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Governments that introduce their own cryptocurrency understand that it is useless to argue with progress, and the sooner it is adopted, the sooner everything will work out. and the sooner they begin to control the population.
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Governments that introduce their own cryptocurrency understand that it is useless to argue with progress, and the sooner it is adopted, the sooner everything will work out. and the sooner they begin to control the population.
Yes, I agree. the sooner they begin, I think It will be good for crypro currency market.
Government can addopt and has knowledge about crypto currency.
So, I think We should wait and see How government will support this technology.
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Some governments want to bring their own local coins to market. For example, the Chinese government, the Indian government, the Russian government are already fully prepared to launch their own local coins.
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Yes it's true according to recent news of China . they announce they will be created a new own cryptocurrency by the government not only china Russia and USA also do the same . I think the plan shall be better for developing cryptocurrency .
It is unlikely that the digitized currencies of the central banks of states, that is, their stablecoins, can be called a cryptocurrency. In general, this is the same fiat, only on the blockchain, and some, like the Chinese digitalized yuan, will not even use the blockchain. We don't even know yet how such CBDCs will compare to current private stablecoins and decentralized cryptocurrencies. However, soon they will already begin to appear, then we will find out.
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Some governments want to bring their own local coins to market. For example, the Chinese government, the Indian government, the Russian government are already fully prepared to launch their own local coins.
It will be a good effect for crypto currency market, If every government will launch their own local coins.
But I hope It is true..
Because at China, we all know bitcoin has been blocked.
So, let's see , Hopefully it will can be real.
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if a government in a country has received and provided full support for the use and development of cryptocurrencies then that can be a very good step because it can make it easy to make transactions and of course can have a good influence on coin prices because if the product developed is good then it can provide very high demand.
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if a government in a country has received and provided full support for the use and development of cryptocurrencies then that can be a very good step because it can make it easy to make transactions and of course can have a good influence on coin prices because if the product developed is good then it can provide very high demand.
Yes, If it happened, I think It will have good influence for crypto currency.
I think we will do transaction or for payment easily.
We always hope government will have own crypto currency.
Hopefully it will happen soon.
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if a government in a country has received and provided full support for the use and development of cryptocurrencies then that can be a very good step because it can make it easy to make transactions and of course can have a good influence on coin prices because if the product developed is good then it can provide very high demand.
Yes, If it happened, I think It will have good influence for crypto currency.
I think we will do transaction or for payment easily.
We always hope government will have own crypto currency.
Hopefully it will happen soon.
Of course, it will have good effect, if the government support crytp currency and launch tehir own crypto.
maybe at several countries already addopt and support cryto currency such as El savador.
But also there are several countries have blocked crypto.
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They began to realize that they have nowhere to go from the cryptocurrency, so they are introducing state-owned cryptocurrency to keep it under control. Since now the government is missing out on a very fat chunk of taxes, which no one pays them.
States will not issue their own cryptocurrency. They will issue their digitized currencies, which cannot be classified as cryptocurrencies. This will be their usual fiat, only in digital form, that is, fiat on the blockchain. They will compete with the current stablecoins and it is difficult to say how they will affect the cryptocurrency.
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China plans to launch DCEP later this year. A payment system created by the Chinese state and known as Digital Currency Electronic Payment (DCEP). However, DCEP will be centralised and state-run, unlike Bitcoin or Ethereum which are free of state control.
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Governments that introduce their own cryptocurrency understand that it is useless to argue with progress, and the sooner it is adopted, the sooner everything will work out. and the sooner they begin to control the population.
The point is most likely not in the need to keep up with progress and not in the fact that cryptocurrency forces states to issue their own digital currency. The states saw that the digitized currency would be faster and much more efficient than their current non-cash payments. The digitized national currency, that is, the stable currency of their central banks, can hardly be attributed to a cryptocurrency. It will be very different from cryptocurrencies. Apparently, their classification will be refined as they appear and function in practice.
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.
I think If the government will have plans to launch their own crypto currency, It will have good effect to crypto market
Because we all know, at several countries didn't allow crypto yet.
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I think If the government will have plans to launch their own crypto currency, It will have good effect to crypto market
Because we all know, at several countries didn't allow crypto yet.
No government has planned to launch their own cryptocurrency, you are very wrong. Some, I repeat, some governments have plans to launch their own CBDC, it is a type of digital currency that has been issued by a central bank and that is a digital representation of fiat money. Therefore, it has the property of being a form of money regulated by a state or by a union of states. They will likely use private blockchains, but it will be nothing like what we know now.
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I think If the government will have plans to launch their own crypto currency, It will have good effect to crypto market
Because we all know, at several countries didn't allow crypto yet.
No government has planned to launch their own cryptocurrency, you are very wrong. Some, I repeat, some governments have plans to launch their own CBDC, it is a type of digital currency that has been issued by a central bank and that is a digital representation of fiat money. Therefore, it has the property of being a form of money regulated by a state or by a union of states. They will likely use private blockchains, but it will be nothing like what we know now.
Well, the remark is correct. Governments have no intention of creating their own cryptocurrencies as their digitized national central bank currencies are not cryptocurrencies. The use of blockchain technology for this is not enough to call CBDC a cryptocurrency. The Chinese digitized yuan, they say, will not even use blockchain technology. CBDC will be an improved system of non-cash payments of national currencies of states and nothing more.
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Well, the remark is correct. Governments have no intention of creating their own cryptocurrencies as their digitized national central bank currencies are not cryptocurrencies. The use of blockchain technology for this is not enough to call CBDC a cryptocurrency. The Chinese digitized yuan, they say, will not even use blockchain technology. CBDC will be an improved system of non-cash payments of national currencies of states and nothing more.
Correct @Fenix. The Chinese government intends to modernize and upgrade its national payment system using digital technology. But it will have nothing to do with cryptocurrencies, no one should expect block explorers or public chains. What the government wants is not only to modernize the traditional payment system but also to save a lot of money in terms of imports and exports. In this way they can also avoid possible future sanctions and large scale money laundering problems.
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What they are actually launching is a CBDC which is Central Bank Digital Currency. This is not actually a cryptocurrency because it is centralized and of course under government control
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If a country launches a cryptocurrency, it must be able to consider what will happen later after the cryptocurrency because the effects of cryptocurrencies are really changing all the time and this will be something that is ambiguous in the country.
More precisely, maybe a private company that has to create cryptocurrencies and then be supported by the government so that later when it collapses, it is certain that the government will not be completely blamed (if we talk bitterly later).
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What they are actually launching is a CBDC which is Central Bank Digital Currency. This is not actually a cryptocurrency because it is centralized and of course under government control
Yeah, crypto is decentralized, I think CBDC is not crypto currency.
I agree with you.
CBDC is still controlled by central bank or the government.
I think the government should allow crypto or decentralised system but should learn more about their impact.
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Yes, many countries are already working on this to launch their own cryptocurrency even in the recent time India also announces to launch their own digital currency and I feel many countries know the power of cryptos so they also want to take the benefit of blockchain technology but in my opinion, countries will follow the centralized way not decentralized.
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If a country launches a cryptocurrency, it must be able to consider what will happen later after the cryptocurrency because the effects of cryptocurrencies are really changing all the time and this will be something that is ambiguous in the country.
More precisely, maybe a private company that has to create cryptocurrencies and then be supported by the government so that later when it collapses, it is certain that the government will not be completely blamed (if we talk bitterly later).
If you read some of my previous posts in this thread, you will find the explanation. No government can create a decentralized cryptocurrency, like Bitcoin or Ethereum, governments can create CBDC currencies, digital currencies created by the central banks of each country with parity 1/1. If central banks created cryptocurrencies (as we know them) as sovereign currency, the government of any other country could buy the entire supply and bankrupt the country in a matter of hours.
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China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.
I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?
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China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.
I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?
CBDC, not crypto currency like bitcoin and altcoin.
It's centralized, because they government will control their crypto.
So impossible to create decentralized platform.
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Cryptocurrencies have become too popular around the world and especially cryptocurrency technologies, so more and more different countries will launch their own cryptocurrencies, because many countries will be able to receive huge income from their launched cryptocurrencies, and all countries understand that cryptocurrencies are the future.
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if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.
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if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.
Sure, the goverment will create stable coins. I agree with this.
China with digital yuan, EU and US have CBDC.
It will have effect for crypto currency market, But I hope It will have good effect.
I think the goverment will create centralized platform, because they will control their crypto currency.
Every country will have own crypto.
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if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.
They will be CBDC currencies, digital currencies (not cryptocurrencies) issued by the central bank of each country. When cash ceases to exist (it's still many years away, but eventually it will) all payments will be made digitally. What will the benefits be?. The benefits will be only for banks and governments, who will be able to track our money at any time and will be able to know where and what we spend it on, since there will be no cash. Governments say that it is a way to combat money laundering, but in reality it is a way to control citizens.
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if that happens I'm sure they made it not for the sake of business coins like decentralized coins. They will make it a stable coin like USDT or USDC their own country currency version. If this happens I'm confused what the benefits are, is this shown to make it easier for financial channels when their country really experiences a financial crisis? or are there other factors? I'm sure they won't make it a speculative coin.
Sure, the goverment will create stable coins. I agree with this.
China with digital yuan, EU and US have CBDC.
It will have effect for crypto currency market, But I hope It will have good effect.
I think the goverment will create centralized platform, because they will control their crypto currency.
Every country will have own crypto.
Stable coin is very reasonable for interested government but they can also keep bitcoin as volatile coin for storage in the treasure or excess reserve fun. not necessarily in huge quantity.
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This issue has been around for a long time, some government have plans to launch own crypto currency.
But I think they will create centralized platform, several said about stable coins.
CBDC, digital yuan that I heard, the government digital currency.
I think those are good, but don't worry those will never compete to crypto currency.
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China has already launched their coin and it is working internally im sure there would release it for general public at a bigger level soon too. There are many more countries and regions that are working on their own digital coin and i think we will soon see such an official coin for dubai soon.
I don't understand, if China created their own coins then why I heard a lot rumors or read in some of the articles where China are planning to ban the cryptocurrency to this country and yet they have their own coins. Why? its because they want their own coin be patronize by the all citizens of China, is that what they want for real?
China has created its own digitized yuan. It can hardly be called a crypto currency. In its work, the digitized yuan does not even use blockchain technology. Although it has been fully operational since February, very little is known about it.
Since this is actually an improved analogue of the state's non-cash money, the Chinese authorities continue to consider cryptocurrency as a possible competitor to their digitized yuan. Therefore, everything is logical. China continues to be negative about decentralized cryptocurrencies.
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Even the Indian Government is one among them.
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I believe many countries are working on it to develop their own digital currency but none of the countries officially launched their own digital currency so far. When we will have the option of using the digital currency of our own country then we will rely on it as compared to other stable currencies in the market.
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There are many countries that are working on their own CBDCs, but the vast majority of them are still in the proof of concept phase, Turkey, Sweden, Thailand, Ukraine, and Jamaica are some of those countries. Above these countries (in terms of development) is the United States, which, although it already has several tests on the table, is still debating which is the best software to use. And number 1 goes to China, which has been testing its digital Yuan for months with a few million citizens.
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Yes, you are right. I've heard that too. This is great for us crypto employees. Because giving importance of Govermnet to crypto. Crypto is on the rise. And makes the crypto market safer. Government's luncheon of currencies. Will increase the interest of crypto all the more. Which will lead to further development of crypto. it's a good news.
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I've heard that too. This is great for us crypto employees. Because giving importance of Govermnet to crypto. Crypto is on the rise. And makes the crypto market safer. Government's luncheon of currencies. Will increase the interest of crypto all the more. Which will lead to further development of crypto. it's a good news.
That's right, if a government in a country creates its own Crypto currency then it will attract a lot of enthusiasts in that country. Especially at this time, the development of Crypto is increasing rapidly. Every country that has its own Crypto currency, will definitely get a lot of support from its Community.
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I don't know if there will be many enthusiasts who will support the country's cryptocurrency, the Chinese cryptocurrency is probably supported by a lot of investors.
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
China has digital yuan, EURO has CBDC and several of them.
So, I think the government will have own crypto currency but It's just centralized platform that can be controlled by the government.
Not decentralized.
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Yes I think most of this government that claims to defend flat are the real owners of this shitcoins there are lots of valueless tokens which I see has no potential the government find it difficult to stop citizens from getting involved in crypto so I think most of them get involved in crypto but don't know how to promote there tokens, the likeness of China I think they have been doing really great tho
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
China has digital yuan, EURO has CBDC and several of them.
So, I think the government will have own crypto currency but It's just centralized platform that can be controlled by the government.
Not decentralized.
China have other larger plans I feel especially with it currency.
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if every country had its own digital currency, would BTC be abandoned?
maybe a little more like all banknotes under USD.
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It appears that other developed nations use a variety of strategies to conduct transactions in their nation using blockchain technology. But these digital currencies can not be regarded as cryptocurrency as they are decentralised unlike cryptos like Bitcoin.
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if every country had its own digital currency, would BTC be abandoned?
maybe a little more like all banknotes under USD.
Of course not. Each country already has its own currency (except the European Union, for example), but they are not digital currencies as we already know. The only thing that will change when countries launch their CBDCs will be the way we interact with our money. Some time after launch, cash will cease to exist and we will only use digital wallets. That is also a new way of being able to control our money that governments will have, according to them it will be for our security and to fight against money laundering, but I don't think so, it is another way of controlling the population. Fortunately the launch of CBDCs will not affect cryptocurrencies, and if it does, it will be a minimal impact.
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if every country had its own digital currency, would BTC be abandoned?
Bitcoin is a reference from the government issuing their digital currency, of course Bitcoin will not be abandoned. Bitcoin will remain the main Crypto of all new digital currencies launched by the government, Bitcoin will still be in the interest of many people. While Cryptocurrencies from the government may only be liked by their own people, but more and more governments are launching their own Cryptocurrencies which is a good thing.
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its a very good news but in this time many countries want to create there own cryptocurrency .
but which made old cryptocurrency and they are work very hard.
so new cryptocurrency need alot of time they come to this level .
so according to my experience in this time if anyone wants to invest so they invest in old coins is good choice.
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its a very good news but in this time many countries want to create there own cryptocurrency .
but which made old cryptocurrency and they are work very hard.
so new cryptocurrency need alot of time they come to this level .
so according to my experience in this time if anyone wants to invest so they invest in old coins is good choice.
CBDCs are not cryptocurrencies like Bitcoin or Ethereum, they do not use blockchain to secure user transactions. The CBDCs will be the currencies of each country always having the same value, the transactions will not be public nor can they be consulted as we do now with any blockchain. If you want more information about CBDCs you can read this article, it will help you understand much better how they work: https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp
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In other words it’s what we call as CBDCs. Despite that it is a welcoming development for these governments to launching their own CBDCs, it’s just that they are centralized. Just like the good ol’ banks, we the people are not in full control of the CBDC’s, but the government is. Just my own opinion guys.
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CBDC is essentially a new form of traditional money. This is the only way governments want to know everything about us. In fact, using them-we will also have to pay taxes for it
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In other words it’s what we call as CBDCs. Despite that it is a welcoming development for these governments to launching their own CBDCs, it’s just that they are centralized. Just like the good ol’ banks, we the people are not in full control of the CBDC’s, but the government is. Just my own opinion guys.
Of course, although it may not seem like it, it is the same. With CBDCs everything will remain the same, but now governments will have much closer control over citizens. When CBDCs are up and running, governments, with the excuse of fighting money laundering and capital flight to tax havens, will only have to consult the service's centralized servers to find out what we do with our money. If at any time the government thinks we are doing something illegal (this is the trick), they can block our funds at any time, even faster than now, and with no judges involved.
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And so it will be! CBDC is just a new form of total control over our funds.
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
By own cryptocurrency, here we mean the creation by states of their CBDCs, that is, the national digitized currencies of these states, and the OP directly said this in his thread. True, the question is whether CBDC should be classified as a cryptocurrency. Most likely not, since they will not have all the necessary features of a cryptocurrency. The Chinese digitized yuan, for example, does not even use blockchain technology. But many CBDCs use the Ethereum platform. When CBDCs start to appear en masse, then we'll see where they should be attributed.
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
By own cryptocurrency, here we mean the creation by states of their CBDCs, that is, the national digitized currencies of these states, and the OP directly said this in his thread. True, the question is whether CBDC should be classified as a cryptocurrency. Most likely not, since they will not have all the necessary features of a cryptocurrency. The Chinese digitized yuan, for example, does not even use blockchain technology. But many CBDCs use the Ethereum platform. When CBDCs start to appear en masse, then we'll see where they should be attributed.
Yeah, many CBDC still used Ethereum technology, I think They should have own technology to against crypto currency.
Such as digital yuan, I want to see where it will go.
Let's see.
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These are all closed projects and blockchain created to solve certain tasks-such as total control over user funds. I don't think we can easily use these technologies.
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These are all closed projects and blockchain created to solve certain tasks-such as total control over user funds. I don't think we can easily use these technologies.
Using CBDC will be as easy as using any of the wallets we use now, it will have deposit and withdrawal features and minimal user setup, but not much else. The big difference is that CBDCs will not use blockchains like the ones we use now, and most importantly and logically, we will not have access to the source code of those programs, any government, with the slightest authority, could block our funds without us being able to do anything about it. That is why I think that the closer the CBDCs are, the more important and used cryptocurrencies will be.
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These are all closed projects and blockchain created to solve certain tasks-such as total control over user funds. I don't think we can easily use these technologies.
Using CBDC will be as easy as using any of the wallets we use now, it will have deposit and withdrawal features and minimal user setup, but not much else. The big difference is that CBDCs will not use blockchains like the ones we use now, and most importantly and logically, we will not have access to the source code of those programs, any government, with the slightest authority, could block our funds without us being able to do anything about it. That is why I think that the closer the CBDCs are, the more important and used cryptocurrencies will be.
CBDC is a way for the government to get the source of our funds and force us to pay taxes for using our own funds.)
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These so called cryptos are known as CBDC which are not based on blockchains. So basically CBDC is just a digital currency but a cryptocurrency.
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These so called cryptos are known as CBDC which are not based on blockchains. So basically CBDC is just a digital currency but a cryptocurrency.
Yeah, the governments have CBDC in digital technology.
But I think crypto will exist and more popular at the coming years and doesn't effected by CBDC.
I believe about it.
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Just to make it easier for countries to transact, they make their own digital currency. there are some good things as it reduces the use of paper currency and switch to digital for everyone's convenience. they should apply as soon as possible
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CBDCs will give them the ultimate power and control. There will be not many places to hide as crypto surveillance ramps up and on/off ramps will be closely monitored. Privacy coins could become could become very restrictive it will become difficult to convert to real money (although, I'm sure new techniques will emerge).
We may even see a partial return to bartering in the future by those who wish to not partake in the system. Time to stash some gold?
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India and China are coming up with their own cryptocurecny and CBDC(Central Bank Digital Currency) might be popluar since a lot of users trade from these respective countries
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This will not be the cryptocurrency we are aiming for. They will have their own closed ecosystems and blockchains.
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Many countries including Venezuela, China, USA, Russia and others are planning on launching their own cryptocurrency since the growth of Bitcoin has caught the public eye. The difference between the decentralized and centralized cryptocurrency (CDC) lies in ownership or lack of it thereof.
The anonymity, maintained in decentralized currency, is one of the major factors which has attracted mass attention. The dearth of privacy in CDC, meaning that the government and anyone in the system can view the transaction details while controlling and denying it if they want is probable. Governments, possibly insecure of their future in the national economy, due to the mass adaptation of cryptocurrency have decided to join the game.
Even though Russia has an intent of taxing its black markets through its cryptocurrency, not all intentions are malicious. Using CDC is going to be much cheaper than using credit cards or paper money, due to the lack of middlemen. Another benefit of the CDC may be that interest rates may be altered, according to personal needs.
Many countries have created their own token already and as far as I know, most of them also failed with their utility token that was created, only a few remained in the cryptocurrency that is still existing in the market. The majority of unregulated coins are still popular in this crypto business. Because maybe what the communities in the crypto space still want is for them to remain anonymous.
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It is not true, a lot of countries are banning cryptocurrency market. How can they launch their own crypto currency. As you can see China, recently China created fud on Twitter. These government will not launch cryptocurrency in the country.
I think that in the near future, almost all states will have their own CBDC, because they should be considered simply as improved state cashless payments. First of all, they are needed by states, since they will allow much faster, cheaper and more efficient transactions of non-cash money. It will also be beneficial for citizens who have previously used a non-cash payment system in the banking system of states.
But CBDCs have very little in common with cryptocurrencies.
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These are all closed projects and blockchain created to solve certain tasks-such as total control over user funds. I don't think we can easily use these technologies.
By creating their own CBDC, governments significantly improve the operation of their cashless payments. This is already a big plus for the state and for its citizens. All the money of the states is clearly controlled by them, so there is nothing special in such control. Citizens will be happy to use CBDCs if they are more convenient, faster and cheaper. The control of the states here is compensated by their authority and relative safety in use. Those who want decentralization will turn to cryptocurrency. Everyone will have their own choice.
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stable coins are enough for me.
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Decentraland (MANA) is the native token for Decentraland, a virtual world built on the Ethereum (ETH) blockchain. Users can buy and sell digital real estate, interact with other users and even play games in Decentraland.
Players use MANA to purchase Decentraland NFTs defining virtual land parcels or exchange them for other in-game goods and services.
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Yeah, we all read about this.
Some of government have plans to create cryrpto, several of thems have launched their crypto currency.
We hear about digital yuan, CBDC etc.
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it will take a long time before cryptocurrencies or CBDC tightly entered our lives
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Hopefully many government will launch their own crypto currency.
As we all see about the digital era prediction, it will happen soon.
So, I think it's good for us, if happenes crypto will more popular and has been needed at the coming future.
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It's not a surprise that government also wants a piece of the crypto pie, govt. already lost much of its tax when crypto started at the first time bcz of the fact that those transactions were in decentralized form so it was hard for the government to keep track of crypto tax, launching their own crypto will help them overall.