Quote from: fiulpro on Today at 05:35:05 PM

Quote from: Patrick2t2 on November 23, 2021, 09:41:59 AM

Some may fear that a government-issued cryptocurrency would eventually supplant Bitcoin. This is absurd. It merely substitutes a blockchain for the wire transfer of a fiat currency. It precludes a really free exchange of value between any two random locations on the planet without the intervention of a third party. A government-issued cryptocurrency will inherit all of the fiat currency's flaws. It will squander energy as a result of perpetual inflation and regulation.

What are your thoughts regarding this matter?

Let us start with the fact that
There is no such thing as government introduced cryptocurrencies. The thing that they are calling cryptocurrencies are nothing but normal fiat which is glorified to attract attention. Now more and more people are understanding the concept of decentralization and also holding their own money !! Which does mean that these centralized things would not only be a laughing stock but might be forced onto people to make a stand for them pushing the people further away from them. Countries like China, India are already talking such steps and I do think that they would be nothing but a failure. No volatility, backed by the government, it's funny to even call them cryptocurrencies. Let's just call them glorified fiat.

No matter what they chose to named it, they will still end up as failure because no one would even want to use digital assets that are still fully controlled by the government. Volatility is the best thing in bitcoin, and if we can't found it from those centralized coins, then they're just good for nothing. People will still prefer those decentralized coins over thise centralized digital assets.