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

in #bitcoin7 years ago

Really interesting post that is certainly a hot topic at the moment. I like how you give both points of view!

Having been talking with politicians from my country (Ireland) over the past few weeks, it is clear that my government is no where near ready to adopt, nor create any sort of decentralised currency. That being said, I know that like you mentioned, bigger governments are heavily testing the technology at the moment.

I think that your question is correct; how much of a want for a truly decentralised currency is there?

I personally see the use cases for many cryptocurrenicies in the future (much more so than for BTC) and I think that many will succeed because of the sheer value that they have to offer (Eos, Omisego, Bitshares and steemit to name but a few with some serious use cases), but I am worried that the market will bleed heavily when government backed or oriented decentralised currencies come to play and we will see a stability in the price action of many cryptos.. After they drop in price to allow the new ones to usher in. That being said, if depends on how much the governments will allow to be invested; I do not see the governments creating currencies that could 1000x in value, so maybe people will stay in crypto?

Either way, I believe that crypto is the future and I would love to see real cryptos succeed, to truly achieve decentralisation.