Post
Topic
Board Bitcoin Discussion
Re: Would Bitcoin remain number 1 if each country had it’s own crypto?
by
mk4
on 02/04/2020, 02:29:47 UTC
Number 1 in terms of just people still wanting it over any other crypto - even a USA government issued one.

Probably not. Remember, one of the main things that attracts people to bitcoin is their potential to increase in value in the long term due to scarcity(hard cap of 21 million). Now if a country would have it's own "cryptocurrency", it would be centralized(counterproductive, I know), hence the governments could potentially issue more of that "cryptocurrency"; making it not really a good investment. While people might end up using it, it wouldn't make people "invest" in it.