I think, The government would not accept bitcoin officially coz they don’t control over the bitcoin payment system or bitcoin pay system. Some government accepted bitcoin for only using online system for investment and trading and maximum countries people are usually using bitcoin illegally.
Even if a government were to officially accept Bitcoin, it would try to bring it into a strong legal framework. Well, in my opinion, if the government accepts Bitcoin legally, this situation can also benefit their people and the government can also collect a good amount of revenue from tax.I think the biggest problem for governments will be people putting more of their capital into Bitcoin, because often governments are run by their banking sector.
If the banking sector faces problems, it can create problems for governments as well .Of course, in most countries people use Bitcoin illegally, because when citizens of any country do not have the facility to invest Bitcoin legally, they try to buy Bitcoin illegally. Everyone who knows about Bitcoin must want to make their long-term investment in Bitcoin.
I think, The government would not accept bitcoin officially coz they don’t control over the bitcoin payment system or bitcoin pay system. Some government accepted bitcoin for only using online system for investment and trading and maximum countries people are usually using bitcoin illegally.
Even if a government were to officially accept Bitcoin, it would try to bring it into a strong legal framework. Well, in my opinion, if the government accepts Bitcoin legally, this situation can also benefit their people and the government can also collect a good amount of revenue from tax.I think the biggest problem for governments will be people putting more of their capital into Bitcoin, because often governments are run by their banking sector.
If the banking sector faces problems, it can create problems for governments as well .Of course, in most countries people use Bitcoin illegally, because when citizens of any country do not have the facility to invest Bitcoin legally, they try to buy Bitcoin illegally. Everyone who knows about Bitcoin must want to make their long-term investment in Bitcoin.
I cant... The idea that governments are still dancing around Bitcoin after all these years and potential? Extremely frustrating. You nailed it. The benefits to governments are obvious. Taxes and revenue are ready to be used. So whats the problem? Fear of the unknown? Or reluctance? Its overwhelming.
The financial story is just too repetitious. Governments and banking are intertwined. Banks may be frightened, but cant governments see past that? People do find criminal ways when there are no legal ones. Its obvious and happening, and governments should pay heed. Everyone's interested in Bitcoin. Governments must adopt quickly!