Do you think that the government will ever accept Bitcoin as a digital currency?

[Shivay]

Government are being so hostile to the subject of cryptocurrencies world over, most of them openly called it a scam, some said that they don't fully understand it yet. We know that the reason why they have been so hostile to cryptocurrencies is because they can't control it. Cryptocurrencies are decentralized, so nobody anywhere is controlling it. With the government hostility towards Bitcoin right now, do you ever think that government will some day accept Bitcoin as a system of payment?

 

[exothucz]

Well for me soon enough the government will accept the cryptocurrency because cryptocurrency no is well known.

 

[Sanusi]

The government will not allow bitcoin as mode of coin so due to market due to do, i will go win with, the government does not know level like is it polovement make that i learn.

 

[kayode10]

Government and financial institutions will never support the uses of cryptocurency as legal tender. The reason is the it will take away the power to control the flow of currency the way the want. The will be subjected to supply and demand force of the market. If it happens no more sitting in the conforr of their rooms and call the short. They are just afraid of losing the power they veto on Financial market.

 

[Lagazine]

Government might not accept bitcoin as a digital currency because it's going to pose threats on the fiat currency of the country. It's only the set of government that understands what we call crypto coins that will accept it with good faith.

 

[Chumzy]

It would take something really special for government as a body of a country to do that. But one known fact is that members of government and officials across the world use Bitcoin. It takes power and control from the government and hands it to the people so why would they love it.

 

[Erik4150]

Will the government allow a digital currency like bitcoin to be a means of payment? Of course they will. Will they officially recognise it as the alternative to fiat currency? Of course not.
The only priority of the government is fiat currency. The only way they are going to officially accept bitcoin is if the fiat currency becomes unsuitable like in the case of Venezuela.

 

[Josemendez]

I think this will not be easy considering the fact that Government will not have full control on Bitcoin.
If they are to do so , they will want to regulate it in such a way that they earn taxation reward from Bitcoin usage in the country.

 

[.V.]

Cryptocurrency is the future of money. I think that fifty years from now, there will be no hard cash. At some point, the government has to accept cryptocurrency so as not to be left behind. Bitcoin might just be the first government approved digital currency.

 

[Sake]

Yes just give it a lot of time and it will happen eventually, there are some countries that uses Cryptocurrencies already specifically Bitcoin on some of their finances and it's been approved by their governments. Soon hopefully everyone adapts it

 

[Ralphjoe]

The government has no choice but to accept cryptocurrencies as a digital currency later in the future. Currency gets adopted based on popular acceptance, if ordinary people are accepting cryptocurrencies for payment even without any legal obligation to do that, it means the government will be missing out, so they will have to accept cryptocurrencies at some point in time.

 

[Asad Ali]

In Pakistan, the government will never accept bitcoin because there are many laws against money laundering and anyone can invest in it and do money laundering.Appropriate laws should be enacted to bring Bitcoin to the official level so that no one can do anything illegal However, no one can control Bitcoin, so the government considers it a scam.

 

[Yewande]

A cryptocurrency (or crypto currency or crypto for short) is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database using strong cryptography to secure transaction records, to control the creation

 

[Ridorz]

What I believe is that there is nothing that not possible in this life, and I can predict it 75% that government will later accept it. By the time cryptocorrency has know and popular in using by most people in the world then government will later accept and approve it as a legal digital currency.

 

[chicnthin]

I don't think they would fully support crypto because they won't be able to control it as it is decentralized. But they accept that it exist and will consider as means of payment somewhere.

No one knows the future but everything is possible so let's see.

 

[Lloyd]

I think the government won't recognize crypto currency as it will be agains their fiat currency. They can’t control cryptocurrency so they will see it as a threat.

 

[Keibah]

You have said it all. A government is a system that wants a high level of control. They would not want to gamble because they do not have a clear understanding of how it works. For instance, imagine how the drastic fall in price could potentially affect the economy.

 

[Henrywrites]

Most of the governments are not ready to let the use of fiat money go into extinction and this explains the hate they have towards the use of crypto currencies even by some governments of the world. They don't understand how the use of Bitcoin in making payments work and not even willing to learn it. So, it is truly a long battle as you said, and one we don't even know what is really going to happen next.

 

[Emma Aneni]

I really feel if it happens no more sitting in the comfort of their rooms and call the shot. They don't understand how the use of Bitcoin in making payments work and not even willing to learn it.

 

[muhammad ahad]

Government are being so hostile to the subject of cryptocurrencies world over, most of them openly called it a scam, some said that they don't fully understand it yet. We know that the reason why they have been so hostile to cryptocurrencies is because they can't control it. Cryptocurrencies are decentralized, so nobody anywhere is controlling it. With the government hostility towards Bitcoin right now, do you ever think that government will some day accept Bitcoin as a system of payment?

I don't think the government should accept corrupt currency. Corrupt currency is still banned in many countries. People are not able to trade corrupt currency because various restrictions are not stopping it. Corrupt currency is not legal in Pakistan yet. I believe that corrupt currency will not be accepted in the country for the next ten years.