Re: Fiat is a Digital currency without Value

The title you indicated and the description that was said for fiat contradicts.

We would love to call this a misleading title. Tongue

Quote from: Yourhomeboy on May 21, 2020, 11:09:45 AM

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So my fear is the government taking over the blockchain technology.
In conclusion, what will happen if the government takes over the blockchain technology and also the future of the lightning network to bitcoin?

Can we identify that the government really wants to do it ?

I thing what he means is that, the government are already stepping into blockchain technology these days and he's worried that they would start introducing new centralize coins that will counter the bitcoin.

Quote from: skarais on May 22, 2020, 05:15:11 PM

Blockchain is a decentralized, distributed and public digital ledger that is used to record transactions on many computers so that these records cant be changed retroactively without changing all subsequent blocks and consensus in the network. ¹. Basically, I dont think that the government can take over this decentralized technology but they can still adopt technology based on needs.

I know we are all aware of what blockchain is, but what we must understand is that blockchain is applicable to every field and the government knows about it so they are reaching it now. There have been countries that is already having a test with central banking digital currency which might be out in the next 2 to 3 years. If we are looking for a digitalization then don't need to argue about it with bitcoin, coz bitcoin is different.

The government launching crypto will also a fiat currency controlled by the government which is similar to paper fiat those of need a decentralized currency will always stick to the BTC and other cryptos. BTC has become a universal currency whereas each government will push for there own crypto again the same issue of crypto-forex plays a vital role