even if the governments collaborate with each other, still, they will come up to a centralised currency, in which bitcoin and eth are not. but that scenario alone is very far from happening as each country has their own approach towards crypto. even if they create the same features as btc and functions as eth, people are now free to choose which one they will use. and btc and eth are not government-dependent. so you don't have to worry about holding your btc/eth, because your worry of becoming them worthless i believe, would not happen.

Governments creating an altcoin is farm from the worst possible scenario. We already seen Venezuela creating an altcoin, and it was a grand failure. The worst case scenario for crypto is if it remains obscure and unused, if adoption will be declining instead of growing, then crypto will be just a hobby for some enthusiasts, with no potential for big price growth. The second worst scenario is a global ban, because without liquidity of legal exchanges the market will be stifled in growth.

worst case scenario for crypto,?? if there is a global ban, it will probably be the worst case scenario for bitcoin, because by itself the market growth will be hampered, but I don't think this will ever happen, even though the government makes other altcoins to compete with bitcoin, to be able to bring down bitcoin, I think their efforts are not will never succeed, because from the first we have seen many who want to make other coins to compete with bitcoin, but in the end it ends in failure..

BTC is deflationary asset (global elites loves inflation - they are even setting "inflation target" and call "inflation is too small" when they are below this target). BTC has no centralized indentity in charge of it while every gouvements tries to reach the oposit. Control money supply as much as it is possible. What are the chances that gouvements will collaborate in anything?? especially something that will work in oposit of what their goals are and ... is alreade created. What are the chances that BTC hodlers that call BTC a "Fiat money system collapse hedge" will dump true bitcoin to buy "Fiat v2"?

I would say its close to 0.

Bitcoin is decentralized currency and we all know vividly that anything created or invent by the government is under centralized, even though government happened to enlist their coin today it's obvious that it will not be like bitcoin, ethereum, litecoin and other numerous coins under the platform of cryptocurrency alternative coins, because they own can be easily be manipulate, which i know that they can't do that.

I hardly doubt a cryptocurrency developed by the government would even have the capability to fight what Bitcoin can do. One of the most important factors as to why Bitcoin is so good and better than fiat is because it's decentralized. Do you honestly expect the government to create a decentralized currency? The worst case scenario is the various governments banning Cryptocurrency in their countries though honestly, it isn't even that bad imo. We've had those in the past, and nothing big ever really happened. Granted it would limit most regular uses for it, It'd still be possible for others to use it for how it really is just without centralized stuff and all of that.

The worst-case scenario is not the one you imagine, because all those who use cryptocurrencies today do not trust the government too much anyway - and then why would they suddenly want to replace their BTC with some centralized cryptocurrencies just because they were made by some government?

What poses the greatest danger, however, are possible bans and over-regulation - something similar to what is happening in the US regarding some new rules of the game in the crypto world. Unfortunately, most people listen to the authorities without even questioning whether something is good or bad for them, so if the world's most powerful governments could agree to work together to curb the spread and use of cryptocurrencies, there is no doubt that it would negatively affect the entire crypto market.

Fortunately for all of us, the crypto market is still very small and insignificant globally, and the question is what will happen when there is at least 5 times more money than today?

the worst case scenario for cryptocurrencies is, the price returns to zero, that is the worst case scenario for bitcoin, but I don't think it will happen again, because bitcoin has gone through a dark period in 2018, many countries are against bitcoin, not even the world bank want to accept bitcoin exchange, but bitcoin managed to get out of the slump at that time, and now bitcoin is back in popularity and many companies have adopted bitcoin, and there is already a government that legalizes bitcoin..

Cryptocurrencies will survive, even though the government does it just because it wants to hold Bitcoin's position even though it can't be stopped. Of course to determine how the overall policy is implemented by each government of each country. But again, even if everyone is forced and makes a new network, it will not change the situation in a short time. Simply put, we have seen the digital money of each country that has just been launched, and some countries are still relying on their systems to the Blockchain network, and if they want to split up it will be nothing more than a blockchain working system. Never gave birth to the latest innovations.

even if many countries collaborate and create anything it will have no effect on crypto. it's just that the effect on the price is reasonable. but for other sectors maybe crypto will still exist it's just that there are new competitors. but the question is very unlikely for many countries to collaborate to create the idea