How soon will government institutions accept Bitcoin as a payment?

[Good-Person]

The governmental organizations and institutes shall never accept bitcoin unless or until they stop viewing Bitcoin and other cryptocurrencies as a danger to their local banking and financial structure. This is what I have observed.

 

[Shigobad2020]

If other countries continue to accept the use of crypto currency and its getting globally accepted gradually , and I beleive most country will soon legalize the use of crypto currency soon .

Maybe when the adoption level continue to grow they might likely look into adopting the use of crypto currency , because for now they aren't too concerned about the existence and many sees it as a threat

 

[Bookwormlux]

The government fears Crypto Currencies could make fiat to be totally ignored, so they won't take any step that would make that fear to come through.

 

[Thinker009]

If other countries continue to accept the use of crypto currency and its getting globally accepted gradually , and I beleive most country will soon legalize the use of crypto currency soon .

Yeah exactly it would be an encouragement for other countries, to try out accepting crypto currency which is still a very good deal , because crypto currency have so much benefit in it it's left for the countries to give it atry

 

[Hena101]

The time it will take for government to accept crypto currency as a mean of payment is something that will be difficult to predict looking at how they are against it.

 

[Thinker009]

The time it will take for government to accept crypto currency as a mean of payment is something that will be difficult to predict looking at how they are against it.

Yeah they are truly against it , but I think if they start seeing others countries gaining more revenue from the use and benefiting from the use they will surely adopt it

 

[Abigael]

I am very positive that governments will start accepting crypto payments in a few years time. There are already many countries that are moving towards adopting them. But it should be noted that those governments will have to regulate the cryptocurrencies and impose taxes on them.

 

[Alexandoy]

The governmental organizations and institutes shall never accept bitcoin unless or until they stop viewing Bitcoin and other cryptocurrencies as a danger to their local banking and financial structure. This is what I have observed.

Why do you think that the government is seeing the crypto currency as a danger to the banking and financial institutions? Have you interviewed the secretary of finance about it? For me, the crypto currency sees as the danger the potential regulation by the government and not the other way around.

 

[Senator]

Government institutions won't say they accept Bitcoin alone as payment but rather cryptocurrency. It is only a matter of time before they will accept cryptocurrency as a payment

 

[Good-Person]

Why do you think that the government is seeing the crypto currency as a danger to the banking and financial institutions? Have you interviewed the secretary of finance about it? For me, the crypto currency sees as the danger the potential regulation by the government and not the other way around.

I have not interbeiwed anyone, but I do feel that they view cryptocurrencies as a threat because it is used for money laundering and corruption and this is why they see it as a threat. This is why they ban crypto. Otherwise, why would they ban it if they do not view it as something which is unwanted?

 

[Lens]

If you are conversant with the happenings around bitcoin in relation to the government, you will agree with me that the government see bitcoin as a threat. They want the coin to collaped because it's decentralized and could not be controlled.

 

[mcjerry]

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?

It will happen. Because for now there are countries that are now accepting crypto currency. Country like El Salvador have legalized crypto currency. Likewise US have bitcoin in store

 

[harrypaul]

It's a gradual process and we hope for this in the future.
When you are into a business transaction with someone and he offers to pay in crypto, you will have no option than to get into it so you can get your money, so with that, I think the future of crypto is certain

 

[Hojo]

Despite the improvement of Bitcoin , as we can see Nigerian government are against cryptocurrency although it did be nice but it won't be accepted

 

[Bousine123]

I think its happening already my friend. There was a country in Asia that adopted it a few weeks ago but it's citizens protested because of the volatility of the coin.

 

[Shigobad2020]

Government institutions in which country? Since Venezuela government has announced that bitcoin should be used as a mean of payment fot international transactions, I believe the government institutions in the country will welcome using the coin to pay. But I a developing country like mine, its not yet time for that.

Government institutions are everywhere in the world and if one country accepted the use of crypto currency does not mean other country will accept straight away, I believe its possible but its going to take time.

 

[Good-Person]

i think once the government starts regulating and controlling cryptos, they will start accepting it. There are many countries that already accept bitcoin as a trading asset as they have now started taxing it.

 

[Emmy]

I don't think government would have thought of accepting bitcoin as a means of payment because they love to have control over everything. Since bitcoin is decentralized they wouldn't want to allow such.

 

[Kunkun]

Well we never can tell but I feel it's sooner rather than later because with the way things are progressing and the influence crypto is having on the economy and world too

 

[Dagm1]

The cryptocurrency market has actually certainly been actually producing some energy however I question the federal authorities will certainly embrace it since the majority of all of them are actually decentralized as well as powered due to the individuals without any apparent main authorization. I feeling the decentralized attributes is actually the significant factor no federal authorities will certainly acknowledge it.