How soon will government institutions accept Bitcoin as a payment?

[FreshKaz11]

This question arose as a result of the news of strong private institutions investing in Bitcoin.
This has built alot of optimisms about the likely adoption of cryptocurrency as a method of payment by government agency and institutions.
How long do you think this will happen? Is it ever happening at all?

I believe as soon as possible they will all accept the reality ,because you can't banned the new means of currency in our own country...

Which it is allow legally in all countries so what will now happen to out own country,that's like a set back for us ,and know body pray for a set back in his or her life... Am very sure very soon they will lift the ban ...

 

[MercySmith]

Not so long ago, I got a mail from Nextford university saying I can now make payment of school fee through or with bitcoin. This is shows that more and more organization are coming to terms with the use of bitcoin for daily transactions.

Post automatically merged: Feb 9, 2021

Not very long from now, institutions both private and government will start accepting bitcoin (majorly) as a means of payment. In Nextford university, school fees can now be paid through bitcoin. I was surprise when i got the mail some days back.

Post automatically merged: Feb 9, 2021

I believe as soon as possible they will all accept the reality ,because you can't banned the new means of currency in our own country...

Which it is allow legally in all countries so what will now happen to out own country,that's like a set back for us ,and know body pray for a set back in his or her life... Am very sure very soon they will lift the ban ...

Not very long from now, institutions both private and government will start accepting bitcoin (majorly) as a means of payment. In Nextford university, school fees can now be paid through bitcoin. I was surprise when i got the mail some days back.

 

[Jomarie05]

The cryptocurrency market has obviously been generating some momentum but I doubt the government will adopt it because most of them are decentralized and powered by the users with no obvious central authority. I feel the decentralized nature is the major reason no government will accept it.

 

[Taiwoayan]

it might take some time because so many government have not really discovered the importance of this cryptocurrency. Some sees it as a threat to the economy and that's why they are placing a ban on it but in long run they will not have a choice than to accept it if it has been acceptable globally.

 

[Nomad]

I cannot say about other countries, however, the government in my home country is still suspicious about crypto currency. I don't see government institutions accepting cryptos any time soon

 

[Chibson]

A whole lot of people and organisations are adopting bitcoin on daily basis and this is a very good sign which means that it is just a matter of time government will begin to adopt cryptocurrency as a form of currency.

 

[Sincerem]

I cannot say about other countries, however, the government in my home country is still suspicious about crypto currency. I don't see government institutions accepting cryptos any time soon

What country are you from @Nomad? For such to take place in my country, it means the current system of government needs to be flushed. Which isn't easy, such kind of old folks can never be in support of crypto. They banned it from operating fully.

 

[Erik4150]

I don't think it will happen anytime soon. A lot of government institutions are still doubting the security of block chain and fears that it will affect the fiat currency.

 

[joy101]

We font really know but hope it will be very soon, let's hope so that it will be too long for the government to accept the payment of cryptocurrency.

 

[Sincerem]

I don't think it will happen anytime soon. A lot of government institutions are still doubting the security of block chain and fears that it will affect the fiat currency.

Notably my country is part of the countries that us doubting the benefits of Cryptocurrency. Even when crypto trading is on the steady high here in the country.

 

[Victor001]

Seeing this message late, some advance countries are already advancing to accepting crypto,while my own country is pushing the use of crypto away.

 

[richee84]

Cryptocurrency give one the opportunity to make money from the crypto world without any government supervision or regulations. Government will alway want to be in charge and control things the way they wish. With the absent of government control it will be difficult for government to accept crypto.

 

[Osaz96]

This question arose as a result of the news of strong private institutions investing in Bitcoin.
This has built alot of optimisms about the likely adoption of cryptocurrency as a method of payment by government agency and institutions.
How long do you think this will happen? Is it ever happening at all?

The government may take a while before embracing bitcoin because they’ll first see it as a competition but I think as time goes on they’ll understandable it works and incorporate it into the forms of legal tender in the society.

 

[Sincerem]

Let's keep on hoping for that, it might be possible in the future and so on. But for it to happen in my country that means almost every known country we adopt it for long before they copy from them.

 

[Ziki]

No one can categorically predict when government institution will start accepting Bitcoin. Personally I see no reasons why they should accept Bitcoin has means of payment considering it's volatility. I think fiat currency is still the best

Post automatically merged: Apr 29, 2021

No one can categorically predict when government institution will start accepting Bitcoin. Personally I see no reasons why they should accept Bitcoin has means of payment considering it's volatility. I think fiat currency is still the best

 

[Sotherefore]

although I never heard of any institution accepting bitcoins and other cryptocurrency as mode of payment but there is a higher possibility that in the nearest future the world will start adopting to the use of cryptocurrency in payment for foods and services.

 

[Fizzy_boi]

Actually we can say but I see no reason to why it was banned .maybe they thought it will be hard to accumulate it the same way they accumulate cash .ni taxes .

 

[Setfragil]

Currently in Nigeria bitcoins and other cryptocurrencies have been banned by Nigerian government. They banned banks and other financial institutions in participating in cryptocurrencies but limited it to peer to peer transactions to protects its citizens from losing their monies saved in the banks. So, I don't see them accepting bitcoins anytime soon as a means of legal payments.

 

[Senator]

Some proactive governments around the world has started accepting the Bitcoin as a payment processor. It is only the retrogressive ones that are yet to come on board

 

[tyrim88]

This question arose as a result of the news of strong private institutions investing in Bitcoin.
This has built alot of optimisms about the likely adoption of cryptocurrency as a method of payment by government agency and institutions.
How long do you think this will happen? Is it ever happening at all?

The possibility of government accepting cryptocurency as a means of payment is not possible,because it would mean that government will be left with no option than to surrender of their central control of the regulation of the currency circulation of the market.And this the government is very afraid of doing.