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

[springtech]

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 see it happening any time in the future. Government world over understand what cryptocurrencies stand for. They know that cryptocurrency is a major revolution that has come to break the bondage and slavery governments have put their citizens.
If they ever come out to accept it openly it might spell doom for fiat currency which is a tool the Govt through the Central bank uses to control the people.

 

[ENVOH JNR]

The government won't allow that at all due to the fact that it will affect the fiat currency .

 

[Yasmin]

It's very difficult to pinpoint what could lead to the adoption of the Cryptos. It's a completely unfettered market and that's exactly what makes it interesting and different than the regular currency. So, to begin with, if more merchants are willing to accept the transactions in Cryptos, sure! It'd be all over, in no time. Also, the 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.

 

[Dubai]

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 for my country Nigeria, they sit recently closed all bit in related bank accounts. They are not happy with the way we trade Bitcoin. My government will not accept it as a medium of payment. Unless, a new government comes in to change the status quo. But I see developed countries incorporating bitcoin into their systems. These countries have the tendencies or using crypto as a medium of exchange.

 

[Chibson]

The Nigerian government currently place to buy on cryptocurrency and threatens any bank that deals or accepts cryptocurrency, that bank will be banned. This is currently a setback for cryptocurrency especially for those of us living in Nigeria.
I see more countries doing this in the nearest future so let's watch and see what the future holds.

 

[AmirSohail]

I think the government will never accept cryptocurrency۔Yes, it can be accepted if the cryptocurrency is controlled by the government.But in that case, the dangers to capitalism will remain۔

 

[Youngdee]

The answer is a big No from this part of the world I come from. As at yesterday our government banned the use of BITCOIN and passed a bill that all account that trade bitcoin into cash should be blocked. Though some part of the world like United State have accepted BTC and have even created a Bitcoin machine in some part of the state for people who deal with cryptocurrency and this is a huge improvement.

 

[Godleads1]

There is nothing in the fact that those that are meant to know don't know and they seek enlightenment from the hands of those that know. I believe there is a misconception about the crypto currency from our government.

 

[Henrywrites]

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.

Why do you keep calling the crypto currency a corrupt currency? These are coins that are used for various transactions even on top online platforms such as PayPal. If you think it's a corrupt currency, why then do you work online and expect payment? I feel coins such as Bitcoin is good to be used and not corrupt.

 

[Josephjossy]

I don't think so, lots countries keep baning crypto currencies. But I think that crypto trading have help to create more job opportunities for the masses mainly for the youth. Many youth are now into crypto trading and they make lots of money in it

 

[Ezzyoj]

Bitcoin did not just start today. No government can stop it, but it will difficult for the government to accept. Though I heard some developed government have adopted. My government in Niger will be the last ti adopt, it is easy

 

[Akinwale701]

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?

Only a retarded government will reject bitcoin for transactions purpose. Cryptocurrency has come as an improvement to the world and everyone in the world, rejecting it and passing any law against it is nothing but ignorance of the highest order. I do not see any sense in it

 

[katkat]

With the trend now wherein technology is fast and dominant, almost everyone is trying to embrace the changes, so I am positve that sooner or later the goverment will use it too. Let's not be afraid to accept changes.

 

[Axad. Mrb]

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. At least $1 billion worth of digital coins and possibly much more has spent time in the custody of U.S. law enforcement. As a result, the U.S. Marshals Service, which is responsible for sales of the confiscated bitcoin, has become a major player in cryptocurrencies

 

[ronaldlorenzo01]

Some of the governments in other countries accepted bitcoins. But the only problem they are facing is how to centralize it. They cannot use bitcoin to earn profit from it because it is a completely independent body. And it is adopted for masses for complete freedom.

 

[Shivay]

Some of the governments in other countries accepted bitcoins. But the only problem they are facing is how to centralize it. They cannot use bitcoin to earn profit from it because it is a completely independent body. And it is adopted for masses for complete freedom.

That is why government is fearing its adoption and also if the cryptocurrencies are adopted then the use of the standard US dollar may also decrease , So the government dont want this to happen at this moment.

 

[mubinadaddy]

It will be hard for the government to accept the cryptocurrency because of how it's work and not everybody uses smartphone and also no how to make use of it
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It will be hard for the government to accept the cryptocurrency because of how it's work and not everybody uses smartphone and also no how to make use of it

 

[Veetos12]

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?

With the current situation of things in my country talking about government actions in handling crytocurrency acceptance rate, I can say No because the government of Nigeria thought the Central bank of Nigeria just imposed a strict rules on trading in digital currencies just yesterday.

 

[zenith]

Except government of another country but not my country,nigeria.they made one big mistake that will affect even the economy.they have ban the banks from involving in cryptocurrency.they ask the banks to close the account of the exchangers.that is Bush thinking.i am just tired of this government honestly.

 

[Judee201]

money is a legal tender that is guaranteed by a government

Bitcoin isn't guaranteed by anyone, if everybody using it decide to pull out, it will crash to zero cause bulk of it's current value is inflated