El Salvador government has made bitcoin a legal tender, a lot of other governments, especially South American governments are trying to adopt crypto currencies are the standard form of money.
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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?
That is just it. Government will not want accept bitcoin as digital currency because they could not control. Every government of a country always wished to control every financial instruments in the country. But unfortunately, controlling bitcoin is not possible.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.
I'm not disputing the fact that bitcoin is used as a source of payment but most of the countries that bitcoin is banned cannot use bitcoin as a means of payment.Bitcoin is widely accepted as a payment option for most countries and I still believe that it would continue to thrive because of its decentralized nature and security.
It is true that bitcoin are used as one of the payment gateways by some countries but it is not generally accepted because there are some countries who are still placing restrictions on the use of Bitcoin.Bitcoin is widely accepted as a payment option for most countries and I still believe that it would continue to thrive because of its decentralized nature and security.
Whether or if the government will eventually recognize Bitcoins as a type of digital money is up in the air. While some prominent government actions have been made in this direction, the bulk of governments have not yet adopted an official position.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?