[YourGrace]

Bitcoin has been doing amazingly well. I definitely regret not investing, and I justified it due to the threat of competing cryptocurriencies, specifically ones that a government or company backs.

I was skeptical that if a country creates their CountryCoin (AmeriCoin/AmericaCoin, RussiaCoin, ChinaCoin), wouldn't it effectively cause bitcoin itself to go in freefall as people would convert to the coin backed/sanctioned by a government.

Likewise, Apple can create iCoin. For those reasons I was skeptical.

Looks like it doesn't really matter as long as you get off the ride before it starts to stop.

[wellinever]

Andreas Antonopoulos made a good point that a "countrycoin" would always have a trusted key held by the country's monetary issuing authority which would basically then provide an enormous honeypot to tempt attackers to target it/steal it. OTOH, currencies like bitcoin with fixed monetary policy don't have a backdoor mechanism for money creation (without overwhelming consensus to fork).

Also, I see Political intervention in currency as a bug rather than a feature.