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

[harryper]

With the current number of Cryptocurrency in existence, there is no chance that the government will start accepting Cryptocurrency as official means of transaction. Because if the government accepts Bitcoin, they will have no excuse to not accept the other Cryptocurrency.

 

[singlej007]

Someday sometime the government will not want to be left behind about cryptocurrency, They will want to partake in cryptocurrency by bringing their own cryptocurrency or trying to regulate cryptocurrency to their own advantage. Some of the countries are already interested in cryptocurrency and trying to see how they can come in.

 

[Hasan Raza]

The greater part of the individuals in government have practically zero clue about what bitcoin is about or how it functions. Over the long haul, possibly they will find that it be so advantageous to the economy and the country on the loose. Be that as it may, for the present, bitcoin is unusual.

 

[eojo2401]

I don't think the present government in my country can accept cryptocurrency because they are rulling us with analog brain and mentality. The only condition that can make them accept cryptocurrency is when they want to borrow fund from outside and the lend gives out loan in digital currency

 

[Sunnytee]

No cryptocurrency is qualified to be called money because none has been designated by the U.S. government as being legal tender. Cryptocurrencies are called virtual currencies because they possess a few of the qualities of money.

 

[Rainlover207]

Yes it's a fact that Government are hostile to the subject of cryptocurrencies, but they will soon accept the fact that cryptocurrencies are here to stay. Well I Dont really blame them they are just trying to be careful them self, but crypto is the next big thing

 

[Snazzy001]

Yes i think so.which government will decline what they know very well that it is for the good and growth of their own citizens.bitcoin is profitable to any country and should be embraced.

 

[Profwriter]

As crypto currencies continue to gain wilder acceptance, there is a possibility of government adopting it but it won't be easy because they will have to do away with their our currencies which are emblems of their identity as nations and countries.

The us dollar is strictly associated with the usa, pounds to Britain, it won't be very easy for governments to let go because of the uniqueness of their currency and what it represents.

 

[Bart Simpson]

Governments and financial institutions will never support the usage of any crypto currencies as a legitimate currency. The reason for this is that it will take away the power to control the flow of currency the way they want to control it. These cigarettes will have to go through the supply and demand flux of the market. If you find yourself collapsing in the vicinity of the rooms of your house, let those nearby know. These legislators are just afraid of losing the power they veto over Financial markets.

 

[eojo2401]

how I wish the government of Nigeria to accept BTC as legal tender. So as to be generally acceptable by all and sundry. But my fear is how will non-elite or illiterate fellows cope with digital currency and wallet. Anyway they must learn it by force and I must make money from training them. Cheers

 

[Thosynho]

I pray that the government will not accept cryptocurrency has a general currency cos once the government gets involve in anything, their will be high transaction fees and other policy will enter into it which will spoil the whole system or even Mae crypto currency a useless digital currency.

Well, you have made your point which to some extent is valid. However, with the way crypto currencies are advancing now, government too are seeing prospects in it and may be tempted to accepting it. Either they accept it or not millions of people are already using Bitcoin as a means of exchange.

 

[Abbeyola]

G

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?

Government may and may not accept Bitcoin crypto currency base on their own view on the digital currency.
Their may believe it would affect the financial aspect of the country at large.

 

[Blessedsam60]

Almost all the government of the nation is accepting crytocurrency as a digital currency. But some countries are still against this development and it's a detrimental issue to them as they might loose out of this technology. But as we now know that African is the second largest cryto continent that are taking this to the moon.

 

[Sana Diyar]

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?

Govt. has to give a go-ahead. But it's quite unlikely that the regular currency would be replaced anytime soon. I'd resonate with the answer by Rupak above, that it'd definitely shift towards Digital currency but adoption of Cryptos, doesn't seem to be happening anytime soon. They're too volatile to be accepted as a stable currency!

 

[LaylaG]

yes I always believe that there is a possibility that government will accept cryptocurrency as the only and the legal mode of transaction in everything,although it may not be now but there's a possibility that they can happen in the next 10 years from now, that is just my prediction though.

Post automatically merged: Feb 4, 2021

yes I always believe that there is a possibility that government will accept cryptocurrency as the only and the legal mode of transaction in everything,although it may not be now but there's a possibility that they can happen in the next 10 years from now, that is just my prediction though.

 

[Kelly5]

Although it is clear that it's quite possible for a government to ban Bitcoin, actually enforcing a ban would provide difficult—if not impossible—in many countries. ... "The US could enact tighter restrictions for buying and selling BTC, but an outright ban would be impossible to enforce," said Hayner

It is only a matter of time before the government ot the world gets sucked in to accepting the cryptocurrency system of payment as a legal tender. I mean it is inevitable. At least a few governments are adopting it right now

 

[Nathaniel]

Bitcoin is the first decentralized peer-to-peer payment network ... have value because governments say that they do. ... You can't return the currency to the government

 

[jimmann247]

I don't think the government will accept anytime soon, but they will accept at the long run. Government has been out to see how they can penetrate cryto and regulate it, but it has not been easy for some countries to do that, although most exchanges are regulated.

 

[Sotherefore]

I will I do not believe that government will accept cryptocurrency as the only legal mode of transaction now but maybe it might happen in the next 50 years from now,we cannot give an accurate prediction because some countries of the world do not even accept cryptocurrency.

 

[Yewande]

I believe the time for government to accept crypto currency is as near than ever before. Crypto currency is being accepted globally and it has come to stay. Government literally has no choice than to accept it.