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

[Nomad]

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.

 

[Chibson]

Many countries are already accepting cryptocurrencies, Bitcoin particularly as legal tender so that is definitely a good development.

 

[Heatman]

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 far as I'm concerned, I'm very convinced that there is no way you would expect our silly government to ever accept the use of cryptocurrency as a legal currency in my country.

 

[kayode10]

A government that is afraid of foreign invasion might not accept cryptocurrency as a legal tender. They will believe that enemy of the State can manipulate the monetary values of the country.

 

[Setfragil]

Some countries are already making move to make bitcoin a legal tender in their countries, so it is very possible to accept it as a digital currency.

 

[greenie]

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.

 

[Kaffyfolla]

To my own view, I don't think can accept cryptocurrency as means of an exchange of goods or services due to its nature of decentralization

 

[HayKay]

I don't think so. A lot of countries are banning cryptocurrency transactions in their country and this is simply due to the fact that they can't control the space - no government would actually want it's citizens to have absolute power over their financial system.

 

[joy101]

I believe that there is nothing that is not possible because for me I believe that government can expect it one day, because as far as this system is going them will.

 

[Nomad]

Bitcoin and crypto transactions are legal in many countries, where people are already using as a payment form. However, you need to understand one basic difference in making crypto legal and making crypto up legal tender.

 

[Danny4cash]

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.

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.

 

[Potuse]

Before the government will consider choosing bitcoin as legal tender they must put into consideration different factors because cryptocurrency is a volatile currency and it will be difficult to use it as a legal money.

 

[Ononivami]

We cannot dispute the fact that some countries are taking cryptocurrency as a legal tender but it is somewhat onerous to choose this type of digital asset because of its high volatility rate which would pose a little danger to the economy.

 

[Genie01]

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.

 

[Potuse]

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.

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.

 

[Ononivami]

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.

 

[Planbizzle]

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?

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.

 

[Kennysplash]

Government believe that cryptocurrency is a threat to the Fiat currency and can lead to it's deflation. That is why most of them make the decision to ban or restrict the use of it by the citizens.

 

[Potuse]

The government of most of the countries do not want to accept cryotocurrency because it is a decentralized form of payment that lacks central control and the government wouldn't support anything they cannot influence.

 

[Mayorla]

Yes, I think the government would accept Bitcoin as a digital currency. Though, They might not fully offer support Bitcoin. Some country already have their own digital currency, CBDCs. Country like Nigeria.