Should USA start its own cryptocurrency?

[Le Gaucher]

I dont understand a lot of it - but here are some advantages vs Other Cryptocurrencies (CC) and US Dollars

The main purpose of a currency is to be a unit of transaction and for that it needs to be stable. Cryptocurrencies cannot function as currencies precisely because of their volatility (speculators and uncertainty surrounding their wider adoption).

The USA issued Cryptocurrency will wipe out credit card payment gateways like VISA/MasterCard/Amex. It may also wipe many other national currencies as everyone would have faith in a US government issued CC. But it will have many advantages

Right now CCs are an easy way to launder money due to the anonymity provided - but having our own CC and regulating it will provide a hasslefree money transfer mechanism that will aid the economy and bring it fully out into the open. No more dark economies - assuming the other cc's are killed off.

I am hoping hiding income and wealth will become harder with open source verification systems - which means that a greater portion of the money that should be taxed will be taxed.

Any thoughts?

[WinkyDink]

1. Silliness.

[PoliticAverse]

2. No. The US should not have a currency that's one mathematical breakthrough from being worthless. n/t

[DetlefK]

3. Russia is trying precisely that: Banning all other cryptocurrencies except for the cryptoruble.

Funny thing is, about a month ago russian politicians railed against Bitcoin: Mining Bitcoins costs too much electricity! The electric demand could lead to fires! People in flats shouldn't be allowed to mine Bitcoins!

[Le Gaucher]

4. you can't ban anything .. you have to win in the market place

[DetlefK]

5. Russia will simply arrest anyone caught mining or dealing in cryptocurrency.

Mining cryptocurrency has become so tedious that it takes high-performance hardware with specialized microchips. Anyone caught with such hardware will be arrested. It's that simple.