Quote from: Commotheon on October 30, 2018, 06:18:23 AM

Quote from: 0t3p0t on October 26, 2018, 04:17:37 PM

Quote from: Blanca_Gregory on October 24, 2018, 01:34:06 PM

We've all seen this phrase before: that the government and/or banks will more likely to create their own cryptocurrency, but what are the odds that they really will? How can we be sure that these two sectors will create their own coins eventually and will it even change the game if they do? If they did, will it not threaten bitcoins and altcoins because the common people who haven't heard of bitcoin before might choose to use these bank/government-created coins instead? Do we really need more coins?

If ever banks and the government will truly create their own coin, I think they will be treated like normal Altcoins and nothing is special about them and the fact that they are not decentralized just like any other cryptocurrency which investors and enthusiasts supported for privacy and security purposes. I don't even see them as a threat to Bitcoin and one example in this discussion is Ripple and will soon add Petro of Venezuela which is a state owned crypto.

There are already more than 2000 coins available on coin market cap and I think there is no need for another bunch of coins for each country. It will just not serve the purpose.

The fact that there are more than 2000 coins in the space, does not mean that is all we are ever going to end up with in the long run, as a lot of them will get done with and disappear from the space as I believe like we are already seeing, we will start seeing some clean up process in most exchanges. Secondly, additional coins from the government is not something that would cause any issue, it will just be some legalized fiat which in this case is implemented on the blockchain, it is somehow going to happen, but I do not see it changing much anyway.