The government should participate in bitcoin security support, does not exclude other digital currency bitcoin
Recently, the Bank of Canada researchers published papers, the feasibility study of digital currency. The paper believes that the digital currency bitcoin, including its government participation, to ensure the safety of consumers. Otherwise, in the long term digital currency will not succeed.
The central bank believes that bitcoin and other private digital currency is booming, but the premise is to provide support and protection for the government. The market believes that as the current bitcoin development trend in the world, develop circulation government recognized bitcoin in the area very quickly, related industries gradually flourished. Without government support, the development of bitcoin even without government protection.
In early November 2015, the Bank of Canada has bitcoin popular worry, think it will reduce the effectiveness of monetary policy. Because bitcoin is not regulated by the government, nor by government regulation.
The market believes that the circulation of bitcoin is privately owned, but the government to carry out a certain degree of support and participation, the relationship between the government can act through the market to adjust the bitcoin monetary policy and at the same time, the participation of the government will strengthen the development of bitcoin. This is good for both sides.
On the other hand, is the relationship between government support and other private bitcoin digital currency, bitcoin does not necessarily exclude other digital currency current.
The central bank researchers published papers, the author thinks that because of government support, bitcoin’s liquidity will be better than the other digital currency, but not necessarily will exclude other digital currencies. Because each kind of digital currency has its different functions and the corresponding market, it is difficult to say there is relationship between them is inevitable.