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RE: Cryptocurrency Discussion: Can bitcoin still thrive if governments introduce their own digital coins?

in #bitcoin7 years ago

To answer this, we need to look at the over-arching trends.

There is a trend towards transparency and "doing what it says on the tin".

Govern-cement CANNOT do this.
They have to lie and have to steal. They have to cheat and they have to hide their deeds.

So, every govern-cement coin will fail.

Further, govern-cement is still in the dark ages when it comes to adopting anything new. At full speed ahead, they are looking at over a year to getting a bitcoin like coin. If you or I wanted to have a bitcoin like coin, we could go to a website, fill in a form, then download and compile the source. Done.

But not govern-cement. They couldn't move that fast even if their lives depended on it.

And the piece de' resistance is that in one year, bitcoin, and many other coins will be completely different. They may not even be using block chain. But, they will be transparent and open.

Look for any govern-cement coins to just fail.
It will be like the govern-cement trying to sell flip-phones in the era of smart phones.