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

[Adeyoola7]

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

 

[Nurudeen]

I don't think the government will ever accept Bitcoin as a means of payment or Digital currency at all. Why i said this is that a lot of government officials are now using this Digital currency to launder money just because they know that the coin or transaction is non traceable so if the government should accept it fully a lot of atrocities will happen

 

[Thosynho]

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! Many countries have accepted Bitcoin as a valid crypto currency and has been legalized as a means for exchange. Any country that is yet to accept Bitcoin as a legit crypto currency and means of transaction will later approve it.

 

[Peterlight]

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.

 

[Mujahid12]

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?

As we see the popularity of crypto currency is increasing day by day and very soon I am sure that government will have to be accepted and it will be very important to use digital currency very soon and for every country.

 

[EMMANUEL]

Bitcoin claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.”1 That lack of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, it is important to know a little bit about governments and conventional currencies.

 

[Damismiling]

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.

Come to think of it, our government are selfish and self centered, they wouldn't want to loose the control over the currency, because if crypto should be generally accepted, then the power is shifted from them, u doubt if our government would want this kind of thing to happen

 

[Goldentaby]

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.

Digital money and crypto-currency terms are also used interchangeably. There is, however, a major difference between the two currencies: there is a decentralized cryptocurrency. This means that cryptocurrencies are not distributed or controlled by a central administrator, such as a government or central bank, unlike digital currencies.

 

[Robrown83]

Well.........as it is now government believe that crypocurrency is a treat to the currency of each country because crypocurrency is now moving wider and people are now investing on it worldwide. But I believe very soon it will be something that will be acceptable by Government worldwide.

 

[Mrallison]

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?

Looking from there perspective they're in there own way trying to be safe like they say "people tend to fear what they don't understand" but with time (maybe not this year or even next year) certain government will be more enlighten with the concept and it will be more easier to consider making it a system of payment

 

[Rainlover207]

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.

 

[Rimsha kanwal]

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?

Bitcoin could potentially replace the U.S. dollar as the world's reserve currency, but for this to happen, the digital currency would need to make progress in several important areas.
Currencies serve as a medium of exchange, a store of value and a unit of account. While the U.S. dollar has established itself well in these particular areas, some analysts have voiced their doubts that Bitcoin could fulfill these key roles.

 

[Richmond funke abosede]

I don't think the government we accept cryptocurrency in the years to come, Bitcoin has not been accepted here in Nigeria,So we only can use it as a form of Investment online and make money from it,The government feel it is risk to accept bitcoin as a form of payment in anywhere

 

[Sammyesx]

I don't think the government will accept cryptocurrency as a means of exchange, and they will be right If they don't, the volatility of Crypto makes it unreliable. Imagine getting something for a particular price today and by the next day the price has reduce or doubled, it will not be good for everyday businesses.

 

[Cybersec]

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.

 

[Abibatabosede]

The government might not come out open to accept Bitcoin because of the fear that it would overthrow the fiat currency but they know that the crypto currency is the future of the world and advancement of technology.

 

[Nma]

most government officials are old and don't want to understand and accept new innovations such as the use of crypto currency.... I don't think the government will ever accept crypto except they have a change of mind towards it

 

[Riniyke]

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

 

[Highflyer]

Cryptocurrencies aren't backed by a government.

Cryptocurrencies are not insured by the government like U.S. bank deposits are. This means that cryptocurrency stored online does not have the same protections as money in a bank account.The bitcoins are typically sold off in public auctions conducted by the U.S. Marshals Service, which is a law enforcement agency within the Department of Justice. ... (See also: US Marshals To Auction Seized Bitcoins.) But little else is known about the government's handling of bitcoins.

 

[Machismo]

I sincerely don't see government accepting bitcoin or any other cryptocurrencies. As you said, the fact that the currencies are decentralised and can't be controlled by them will never make them accept.