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How soon will government institutions accept Bitcoin as a payment?

Well, first of all, the governments of many countries need to lift the ban on cryptocurrencies first. If they are not ready to lift the ban, then how can we expect them to adopt cryptocurrency as a payment method in the first place?
 
I think the reason government institutions do not accept bitcoin as a means of payment is because it is a decentralised digital currency and is not controlled by any central bank or administrator. Although El Salvador have legalized bitcoin as a means of payment.
 
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.
 
Don't think that's going to happen too soon because bitcoin payments are anonymous. This would make it harder for them to keep records of people making payments
It is very possible to keep records since it is in blocks of data's,but on the issue of anonymous that is where the issue lies, government do not want a situation where they will loss control and regulation of the financial sector.
 
Some countries like El Salvador has already started accepting bitcoin and some other cryptocurrencies. I think some countries will also follow the same path in the near future.
 
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?
To ease the transactions, government need to accept Bitcoin or other cryptos like XRP as a payment method and I think they need to do it as soon as possible.
 
Some countries like El Salvador has already started accepting bitcoin and some other cryptocurrencies. I think some countries will also follow the same path in the near future.
That will be a good idea, Bitcoin is the well known cryptocurrency a lot of people that don't have the good knowledge about it they know what Bitcoin is, acquaring the right knowledge is very important.
 
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 financial aspects of cryptocurrency has clearly gained traction, but I don't think the government will embrace it, just because the majority of the coins are unregulated and controlled by users, with no evident executive authority.
 
That will be a good idea, Bitcoin is the well known cryptocurrency a lot of people that don't have the good knowledge about it they know what Bitcoin is, acquaring the right knowledge is very important.
The level of knowledge you have about bitcoin will always determine the amount of money you can be able to make. The crypto market is very sweet if you have proper knowledge of it.
 
The level of knowledge you have about bitcoin will always determine the amount of money you can be able to make. The crypto market is very sweet if you have proper knowledge of it.
That's true, all that matters is knowing how to analyze the market, if you can do that it's going to be very simple for you, you also need to control your emotions.
 
That's true, all that matters is knowing how to analyze the market, if you can do that it's going to be very simple for you, you also need to control your emotions.
it is very important and necessary will learn how to analyse the market well if you really want to become successful. You don't need to depend on other people's signal to trade.
 
it is very important and necessary will learn how to analyse the market well if you really want to become successful. You don't need to depend on other people's signal to trade.
That's just it if you know how to analyze the market you can earn money from forex or crypto trading, this one of the important thing you need to consider before learning to trade.
 
That's just it if you know how to analyze the market you can earn money from forex or crypto trading, this one of the important thing you need to consider before learning to trade.
Yes, But one of the major reasons people lose their money is because they are not patient enough to learn the necessary things. They are always in a hurry to make profit.
 
Yes, But one of the major reasons people lose their money is because they are not patient enough to learn the necessary things. They are always in a hurry to make profit.
That's completely true, patience is something we need to have especially if you are working online, you'll face a lot of things that need a lot of time before you can get it.
 
That's completely true, patience is something we need to have especially if you are working online, you'll face a lot of things that need a lot of time before you can get it.
as long as you are doing the right thing it is always important or necessary for you to be patient. You need to work very hard and stay focused and on the long run you can succeed.
 
Most governments institution have already adopted bitcoin since most governments institution already know that cryptocurrency is part of the future. They are now even talking about regulating it
 
i believe definitely it is a matter of time before the whole world accepts crypto currencies, especially bitcoin as a means of payment that is legally binding, because it is inevitable.
 
as long as you are doing the right thing it is always important or necessary for you to be patient. You need to work very hard and stay focused and on the long run you can succeed.
That's true, if you are doing the right thing you are going to have the best results, and also if you have a good knowledge you have a good chance of succeeding.
 
Though it would be a really good idea and even though some organizations are not only investing in cryptocurrencies particularly bitcoin but they some are starting to accept it as a medium of transactions. As to when the government would accept it as official mode of payment, for me we shouldn't get our hopes up because I dont see that happening any time really soon.
Exactly my point. Governments around the world have instead decided to take a new approach to things by creating their own currencies which users can buy into and they can regulate; this is a better approach in their own words.
 
i believe definitely it is a matter of time before the whole world accepts crypto currencies, especially bitcoin as a means of payment that is legally binding, because it is inevitable.
The truth is that it is not every country that will agree to accept Bitcoin as a form of payment for their citizens. This is because of its volatile nature but definitely a lot of countries will accept.
 

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