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

[Adebayonle7]

I don't know why they all around the world are taking the whole thing as if crypto currencies are a treat to the world or their government. I have tried to think and reason possible reasons for their actions. Is there something they are getting or gaining from not approving cryptos as a universal and generally accepted currency.

 

[Ehizzy1]

I think they would one day accept the use of bitcoin as time goes in because currently most government are still trying to legalise the usege.But i know that the world is evolving as new users are already knowing more about crypto currency , so very soon the usage of bitcoin would increase largely and government would consider It

 

[Ayokex]

My own stand is whether the government like it or not, cryptocurrency is till going to take over the currency of the nations. The way cryptocurrency is going these day, in few years every nation will forced to approve it use nationally and globally. Some countries are still proven sturbon even though they know the truth about this thing but it's seems hard for them to accept. Others have accepted it but don't enough constitutional power to implement it. It only take one or two of the great counties in the world to approve it before you start seeing others following su

 

[Alexandoy]

I have worked in a bank and I am basing this comment on what I know about the banking system and the currency. If you will look at the government bonds, it is like money that is issued by the central bank to gather funds. Banks buy the government bonds that later it would earn interest (increased in value). The crypto seems to work like that. You buy it now and you profit when it increases in value. The only difference is the source of the crypto - what produces the crypto and what is the backing of that digital currency?

 

[BrolySSJ]

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 definitely believe that in the future the government is liekly to accept bitcoin as a currency because they will see the financial benefit that it is abel to brign to them and to their economy as well. There are many countries that are now changing their stance on Bitcoin and starting to implement certain regualtions that allow them to benefir from the coin as well which is a good thing for them as well. I think that in time it will be accepted, it is just as a matter of regulation and ensuring that it is not used for criminal activity.

 

[Shivay]

I definitely believe that in the future the government is liekly to accept bitcoin as a currency because they will see the financial benefit that it is abel to brign to them and to their economy as well. There are many countries that are now changing their stance on Bitcoin and starting to implement certain regualtions that allow them to benefir from the coin as well which is a good thing for them as well. I think that in time it will be accepted, it is just as a matter of regulation and ensuring that it is not used for criminal activity.

Yes BrolySSj , I am from India and in my country , our prime minister - Mr Narendra Modi has said that he will bring Bitcoin as a medium of exchange and storing in banks. This shows that he is concerned with the cryptocurrencies , once it is adopted in India ,definitely other countries may also look forward to it.

 

[Bilal0087]

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?

Yes absolutely, because future is of digital currency.
With the advancement of technology and science, government of the world will implemented digital currency for transactions.
But unfortunately in under developing countries like Pakistan this will take many years for proper implementation.

 

[Zamaney]

Over the past decade, Bitcoin has gained attention not only from ordinary individuals but also governments around the world.2
Some governments fear that Bitcoin can be used to circumvent capital controls, can be used for money laundering or illegal purchases, and could be risky to investors.

 

[Chumzy]

Truth is that if there a way for them to push it out they would have. Clearly it doesn't help them because they don't have power over this one. They also lose money everyday because bank charges are drying up and banks can't invest if people don't deposit.

 

[Ebensco]

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.

 

[Nicklas22]

I don't think my country government will accept crytocurrency because
Apart from the CBN in 2017 declaring digital currencies are not legal tender in Nigeria , the country's Securities and exchange Commission issuing a warning about investing in crypto and later classifying all crypto assets as securities, there had been no major efforts by the government to regulate crypto .

 

[Yewande]

Maybe the time will come or it won't, the major thing is BTC is helping a lot of people. Mostly younger generation. My concern is not with the government. I would not like the government to be involved in anyway

 

[Xerryl]

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.

 

[tuna89]

The Government can accept btc but within some conditions, the btc has to be controlled by the central banks, security exchange and stock exchange bodies in order to integrate every btc holder's national identity details to the btc wallet so as to be able to track every transaction going on, these steps would ensure transparency in finance and curb corruption of any form.

 

[LaylaG]

I think the government will accept cryptocurrency as a normal way of transaction in the future but for now I don't think such thing will actually happen because the currency we are using now is of great advantage to the government but there will be a time that the currency will no longer be valuable, this is when everyone will switch to digital currency.

 

[Ehizzy1]

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.

Well what about those government that dont really understands or have digital currency and are yet to accept crypto currency with good faith , i think its mainly about what they can control and i guess the government isnt accepting it because they don't really have the power to control crypto currency since its decentralised and others i think

 

[Niftyyem]

The government's inability to control cryptocurrencies may be the hindrance to the possibility of it being accepted globally. However, it may become possible in the future for most countries to accept bitcoin if they keep seeing the good in it.

 

[Bart Simpson]

Government and financial institutions will never support the uses of Cryptocurrencies 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 conform of their rooms and call the short.

 

[Ltherman]

In recent times some government in Europe and even asia are beginning to have a change of heart as it concerns cryptocurrency. They are beginning to promote policies that will get to bring crypto under more regulatory framework. America for example has a lot of this firms and they are beginning to soft pedal when it comes to crypto.

Post automatically merged: Jan 26, 2021

In recent times some government in Europe and even asia are beginning to have a change of heart as it concerns cryptocurrency. They are beginning to promote policies that will get to bring crypto under more regulatory framework. America for example has a lot of this firms and they are beginning to soft pedal when it comes to crypto.

 

[Janita]

Every countries government rules are different and to whom the authorities are given will depend on his views that he will consider it good and hopefully or note.
Because in my country Bitcoin and crypto currency is not accepted yet so I can't say about other countries government that will they allow or not as in very less countries these have been accepted.