Topic: Bitcoin needs the support of more sovereign states. (Read 446 times)

The final point I want to express is that both Bitcoin and fiat currency will exist. Bitcoin needs the support of various countries, including superpowers. Bitcoin is more like a stabilizer that coordinates the economies of various countries to resist economic inflation. There is no racial discrimination, no ethnic hatred, no dirty trades and conspiracies, and no war.

over time, and we see bitcoin's journey from year to year has increased, and more and more people are holding bitcoins, by looking at the significant progress of bitcoin, we can't deny that one day sovereign countries will support bitcoin, the proof is now there are countries who legalized bitcoin..

This will happen over time. Even banks have started supporting crypto.

Bitcoin is gaining recognition and I know with time it will get the support of more sovereign states in the world. Like you said both bitcoin and fiat have its significance in the economy,

Actually you should reverse your statement and it should be as following:

"Sovereign states need the support of bitcoin to boost their economy with growing inflation and devaluation of their local currency."

Many have stated to realise that they can't stop people to invest and use bitcoin and meanwhile many are opting it and their so called delusion that btc is bubble and used for criminal activities could not last long so it's better to regulate it and earn tax revenue from it and help their economy boost at the same time.

Why can't we have a desire to benefit the development of Bitcoin?

I totally agree that Bitcoin can develop healthier only if it gains more and more support from countries.SL Salvado is the start of Journey. In few years, we hope to see more countries recognized Bitcoin.

I agree with the author in some points. I also hope that more sovereign countries will support Bitcoin. Our goal is not a hundredfold return, but the national policy treats Bitcoin more tolerantly and friendly instead of shutting down mining farms like China does. For many miners, it was a disaster. El Saldova is the first country to use Bitcoin as a comparison. I believe that this is conducive to the healthy development of Bitcoin. Why can't we have a desire to benefit the development of Bitcoin? I think you think of us too narrowly.

At present, many countries and regions are embracing Bitcoin with open arms, and some companies are encouraged to use Bitcoin for payments and transactions at the national level (such as Japan and South Korea).

Citizens of some countries simply use Bitcoin instead of local currencies to avoid bad things. Inflation risk, these examples let the world see new hope for Bitcoin's development in the world's financial field.
 
For example, El Salvador, I personally think that the President of El Salvador is still very charismatic. The original intention of Bitcoin is to resist the inflation brought about by the economic crisis and re-establish a new global economic order and system.

But there are also negative factors here. The main reason why Bitcoin has become popular around the world is its decentralization and anonymity. The early application of Bitcoin was payment circulation in the underground black market. It evaded national government supervision and was quickly taken to all parts of the world.
 
Therefore, they need to be more tolerant towards Bitcoin. They use Bitcoin to do evil. It does not mean that Bitcoin does evil. Fiat currency is an important part of the social and economic system. If decentralized Bitcoin is used to replace legal currency, it will inevitably affect a country. Economic order and sovereignty.

The final point I want to express is that both Bitcoin and fiat currency will exist. Bitcoin needs the support of various countries, including superpowers. Bitcoin is more like a stabilizer that coordinates the economies of various countries to resist economic inflation. There is no racial discrimination, no ethnic hatred, no dirty trades and conspiracies, and no war.


I seem to be more of an idealist, but I feel that if it comes true, maybe I will not witness history.

Even if they don't support it as long as they don't prohibit or antagonize it, bitcoin market will be doing just fine. Plus it's unnecessary for them to support it because if they do, we will end up having to be taxed by them which isn't fun for those in the crypto community and for those that are starting just now.

Increasing the price of bitcoin on the market is done by the demand/supply imbalance. That is the only thing that differs when a government decides to start accepting crypto. The use of crypto does not need government's words and acceptance because it is a p2p and not centralized b2p system.

I would agree that banning something is going back into the timeline of civilization as have many bitcoin advocacy groups already voiced but honestly the government in most countries are run by knowledgeable people even if you think otherwise. They know better and they dont want to put people into prison for nothing. So you can be assured that even if a government does not accept crypto, they cannot ban its transactions completely. As long as you have an electricity supply and internet connection you can transact.

As for the OP, if you are looking for quick short term 100x attempts to sell bitcoin and for that you are having wet dreams of every government accepting crypto then you are seriously having a bad time and should stop trading.

Bitcoin doesn't need any governments to continue to prosper, however in time more and more governments are going to recognize that its in their best interest to participate rather to ignore it or worse yet try to shun or ban it.

indeed with some support from a sovereign country it will provide more comfort for crypto businesses but this is not something that must be required to provide support to crypto businesses, but at least with support from a sovereign country it will have more impact on strengthening a business such as increasing the number of the businessman and also for an increase in the price, because the interference of a country is very influential in a business

I think so too, bitcoin grows and develops slowly.  At the beginning of the growth there was no support like the Elsavador country.  Only the momentum is very instrumental and influential in the progress of bitcoin.  Bitcoin is down now because of someone's fud so many users are panicking to sell.