Topic: Do you think at some point government will change its stand and adopt Bitcoin? (Read 479 times)

If the government finds out that it can milk money from Bitcoin, they will eventually think of ways how to accept it while not straying from their law.  The government adoption can also have the reason you stated that because there are sets of people who thinks that Bitcoin is beneficial to country then the government have to adopt and accept Bitcoin.  Things can always go either way so do not remove the possiblities of each side happening.

Change is the only constant thing in life. 
More governments will still acknowledge Bitcoin but I don't think it's going to be much.  The single fact that Bitcoin is decentralized will discourage a lot of governments from it. 
For governments of countries to accept Bitcoin then it has to be less a little less volatile and relatively stable. 
Bitcoin will keep convincing skeptical people little by little but it will take time.  Little by little more companies and business will begin to accept bitcoin as a medium of payment. 

No bro, I don't think so.
The government system is not operated by just one man there are many people who will stop Bitcoin from legal tender, my reason for this comment is because the government is not just only one person and there are different sets of people who doesn't wants the progress of each other, then imagine if only one or two persons out of hundreds of people decided to legalize Bitcoin, there will be trouble between them self and it will still give Bitcoin a bad reputation because of the bad misunderstanding they might have. Although anything can be possible as long as profits (money) are involved maybeeeeee the government will one day legalize Bitcoin in the society.

Every government has a different agenda. When small countries like El Salvador do something positive, that doesn't really affect the global financial markets. If developed countries one day look at Bitcoin more positively and somehow incorporate it into their own financial systems, then this would be a big deal. I'm sure that even in such an environment, our country will lag far behind in this adoption phase. This type of integration has a direct connection with the wealth and development level of countries.

Yes, I believe change is very possible but I think it will take a lot of time processing before things will turn positive about bitcoin. However, if bitcoin will stay decentralized over time, which means it could not be controlled by any third party, I don’t think the government will love the idea since the very aim of the government is to take control of everything just like what it did to fiat and its banks.

The fact that the government already possesses bitcoin is unknown to many. Those who anticipate a sudden shift in their position against bitcoin are unaware of the workings of the world. The government prioritizes control and has no intention of relinquishing it to its citizens. Though it may sound like a absurd, I have reasons to believe that there is a strong connection between BlackRock and the government.

Yup. There's no telling when or how but it's quite possible since bitcoin has this streak of changing the opinions of people over it in time. Way back then you'd hear Warren Buffett talk shit about cryptocurrencies in general and then the next thing you know he's selling some of his Visa positions so he could open up cryptocurrency purchases. It's all a matter of time until people realize how cool bitcoin actually is. What's a little sad though is that most of these people and entity buy bitcoins all because it's profitable, which is not necessarily a good thing but as a bitcoin fanatic it would've been nicer to at least see someone big in the industry buy bitcoins because of a reason other than "this'd make me even more rich". But oh well, beggars can't be choosers yeah?

Yes it depends, but I have a high hope that this will be adopted sooner or later they need to embrace the reality and they need to accept that we're living in a digital era where people already used to using digital currency and most of the people now are having interest on it. They just need to come up with a plan so that people in all areas can have access to it even the remote areas.

Some other governments see Bitcoin as an opportunity to loose control over the citizen’s finances. They wouldnt  place taxes on these commercial banks because bitcoin won’t be operating based on that mechanism. The government would run a loss, in my opinion so I don’t think they would accept for citizens to embrace Bitcoin.

And it would be a challenge on the illiterates. The government will have to educate the whole nation then cause my mama don’t know how to invest Bitcoin.

I'm not sure about how likely it is that the government will change its regulations on bitcoin and start adopting it as legal tender. But everything depends on the West and Europe, it's because of their economic strength.

Right now the government is aware of what bitcoin is for, its advantages and disadvantages, but they really don't dare to change the rules considering that several large countries have not adopted it. If one day a large country with a good economic status succeeds in adopting bitcoin, then of course other countries will follow.

A lot of governments wouldn't accept Bitcoin or cryptocurrencies at all, not because it's a new technology but because they know Bitcoin and cryptocurrencies will provide their citizens with alternative wealth storages and they might stop using banks as frequently as they used to do before them, and since they can't have access to accounts or financial activities of each user on the blockchain, they will lack control and they can never accept that.

That will surely be the reason why many countries will simply push Bitcoin and other cryptocurrencies away, although other cryptocurrencies are not totally decentralized as their projects and teams have total control over them, Bitcoin is the biggest threat for them since it's totally decentralized.

The Government sees Bitcoin as a trait, anything or asset that will deprive the Government of the power to control its citizens is seen as an enemy, so practically I don't see this dream coming through soon, the only achievable thing for now, is individual and institutional adoption. Bitcoin is a decentralized digital current, with this meaning, it implies that no one has the power to control each other or to make policies that are unacceptable to the people in the system or citizens involved, you are your bank, and you control your asset, and you have access to your money any day, anytime you wish to.

do you think the government would support and accommodate this kind of system where control and circulation will be determined by the unanimous decision of the system?

In Bitcoin, everyone is involved directly, with no hidden fees or charges, everything is done transparently. The government won't be liking this idea because it is freedom unless a technocratic is in power, this technocratic may be opposed since the whole will go through the parliament to make a working process.
 
Some countries deem it necessary to hold the bull by the horn by adopting Bitcoin but when you check very well, some powers are still opposing that decision.

The Government knows that with the power bestowed on them constitutionally to make monetary policies, its citizens can be controlled through that process, but when Bitcoin is considered generally as a legal tender, some policies won't be taken seriously again, since they no longer possess the power alone to decide in respect to bitcoin, in conclusion, I don't see the Government Changing their stand on this in a haste.

Bitcoin's future as a global currency is debated. A universal cryptocurrency is appealing, but we must consider the consequences.

First, law. Bitcoin bypasses banks, but it's risky. It unleashes money laundering, black market trades, and tax evasion. Thus, while a Bitcoin utopia may be appealing, legal obstacles are huge.

Bitcoin may not be a "great asset" though. The currency's volatility makes it a dangerous investment. Bitcoin lacks consistency and stability, which economies need.

People's views about Bitcoin don't inevitably change governments' policies. Governments and individuals operate differently. A nation must prioritize economic stability above Bitcoin gambling. Bitcoin as a national currency is currently a political experiment.

Profitable in what sense exactly? Is it just taxes or do you think they might start mining BTC? In my opinion, taxes are the only thing they can profit from, because in less than 10 years 99% of all BTC will be mined and only a few will compete for the remaining 1% for the next 100 years.


The interest of every sovereign state is to have a strong economy and a strong national currency, and this will certainly not be achieved by doing the same as El Salvador, which does not even have its own national currency. What is important is that Bitcoin does not need to be accepted by a government in a special way in order to be successful in a country.

I live in a country where the average politician has no idea what Bitcoin is, there is no special regulation of it, but there are many companies that accept it as a means of payment, and there are laws that regulate the payment of tax on profits from the sale of cryptocurrencies. Honestly, I don't know what my government should do more for Bitcoin, because as I already wrote, the problem is not in most governments, but in people who are waiting for some kind of approval from those same governments to use Bitcoin. Satoshi did not seek permission from governments, banks or private companies to create Bitcoin, and no person should seek the same permission.

It will just be a matter of time. Just remember the early days of gold before. Everything on Bitcoin right now is still early, still room for growth.
I believe some governments will realize later on that they should have adopted Bitcoin earlier.

This is also another reason why I am not afraid to use and own Bitcoin, because these big companies are trusting billion of money to Bitcoin.

I like to think that way but also, if I were to be a little negative,
I think the government could see reasons to be more aggressive towards the innovation due to the fact that, they’ve got something to lose to this with the fact that, the government product which is fiat is being abandoned for a more compatible alternative.

Still, there is hope in the sense that, bitcoin has proven to be way above any interference but, not so much is mining and the various centralized systems that exists within the space as per exchanges.  Am just saying!

Yes, they may change their opinion, and this is the angle that I'm looking at in this topic on the government side, The government may also see a profitable way of taping into Bitcoin, and the government too may change their opinion completely with the way they see Bitcoin today as they say, change is constant.  


Remember that the government we talk about is run by individuals that have interests, the same as the people who run these private companies. If the government sees these big companies change their perspective on Bitcoin and are filing for Bitcoin ETF, don't you think it might draw the government's attention to find a way to have a review of how things can be sorted out with their stand on Cryptos?

So you started the thread talking about goverment and after that you put as reference a Blackrock article...

Well goverment in reallity moves slow in all and i dont think they have a stand or position on crypto they only repeat they dont know what really its and they need to regulated and bla bla bla.

About Blackrock, man dont take them seriously they only make money, they dont contradict themselves, they dont give a fuck about what its or morals, they said its a "index of moneylaundery" OK but can we do money from that index? that its the only question that matter for Blackrock or that kind of companies. They dont have a stand or thinks about X.

Do you have any evidence that bitcoin adoption is bringing economic growth to a country? Take El Salvador as an example because they were the first country to accept bitcoin as a legal tender. I am not saying that El Salvador has failed to accept bitcoin, but to be fair, bitcoin is just a speculative asset, how can it help the economy of a country go up? Even if an individual becomes rich by holding bitcoins, there is no guarantee that his wealth will be maintained if he relies solely on bitcoin and has no other business.

Most of the major countries in the world who have come to know what cryptocurrency is and what the Blockchain technology offers, understand that the idea has come to stay no matter how they try to ban it.
The funny thing is that you can't tell how much a person have as crypto currency because it seeks to protect identity and even if you want to use crypto to make transactions without letting anyone know, mixers can be used.
The government know they can't track all this money movement and with the way the economic price of gas, crude oil, taxes and other essential bills including health care, banks  have proven to be more of a money sucking machine than what it is thought to be.

The government will change its mind, like what UK did. The only if, is that government want to impose taxes and regulate crypto affairs. It defeats the purpose of a decentralized system. More countries would have to adopt it if their government agrees so.

OP: what is the condition here, I have seen this news from several places, there is nothing new here, just the old school of the economy wanting to take its part, the only thing we can do, is as I already said, take the satoshi and leave as little as possible that the bitcoins are completed, if I explain myself! that is to say, fortunately it is possible to "take" something before the normal attitude of these old "rats". : )

Lolz!, If the future is predictable they would have known that Bitcoin is a threat to the fiat currency because of its problem-solving and stopped Bitcoin at its early stage, But they thought Bitcoin was another Ponzi. Bitcoin changed the game for central authorities and give control to the people to be in charge of their own money.

For the government, they will try to tarnish and destroy something that they can't control if they don't see any benefits from it.  Just like in the early days of Bitcoin, government are somehow hostile to it because they looked at it as scam and tools for criminal to transfer money.  But as the information is corrected and many people had adopted Bitcoin, many government are looking forward to utilize the potentials of Bitcoin and take advantage of the opportunity to milk money from the company and people that is using Bitcoin, thus, government are now adjusting their law to fit Bitcoin nature so that they can establish another source of tax.


The government will never be able to control the Bitcoin blockchain network, they can only have control on the centralized exchanges so it won't be a surprise if the government impose all their changes on of regulation to a centralized exchange.

We don't hold what the future brings as there will always be possible changes in the future. But I don't put my high hopes on it because the fact that the government want to take full control of everything, one thing that they can't do when they start accepting Bitcoin. So maybe they can accept Bitcoin as another method for payment but know that it will never replace the position of fiat that is fully backed up by the government.

You're correct because looking at those who has changed their stand on Bitcoin, they are only doing so because they know now that they can make millions from accepting Bitcoin and they always have an alternative motive which is to centralized the network. When they changed their minds on Bitcoin they don't do it to strengthen the decentralized system of Bitcoin but instead introduces their own centralized service like with the OP example and many others.

Possible the government accept Bitcoin in the future when they find a way to control all the centralized Bitcoin wallets and exchanges. We'll still have decentralized options that allows you to be in control of your private keys but their centralized version get more users and usages.

It really depends on which countries are we talking about and their stance since the beginning. Some countries could really change their opinion and lower the guard towards Bitcoin but some could use that as a mask to try and profit themselves. For example, I recently had a thread about Banks giving the option to invest in Bitcoin and even though the opinions are mixed, I think it is used only in their interest.

 So, governments can start taxing Bitcoin with the help of those(and other) centralized systems and start tracking money movement of the addresses people use in that system/exchange. Of course you could still remain anonymous but they will take a friendly stance to gain any kind of upper hand. This isn't global though, countries that are less corrupt or don't work for only their interest exist but sadly this isn't a majority.

Good for Bitcoin publicity, maybe not so good for users.

One thing constant in live is change, and yes, bitcoin is already created and running, and can not change for any body, who ever does not like bitcoin today will grow to like it tomorrow, this is majorly the reason why I am not always very bothered about government banning bitcoin here and there..

The Chinese government for instance have banned bitcoin more than five times, and even till today, majority of their citizens still own and are transacting in bitcoin, I do not usually consider any ban on bitcoin by any government permanent, because I believe that, a till will come when they will just have to change stance, they won't have any other choice but to just do it.

I don't think so. Because the whole point of the FIAT or traditional money is to give the governments the control over things like the total of the circulation, fees, interest rates, etc. If they decided to adopt Bitcoin, it would imply for them to give up that control and I am sure they are not willing to do so. It would be very risky unless they decided to go with a dual system FIAT-Bitcoin as El Salvador is trying to implement.

All of these things may or may not happen. Because talking about bitcoin adoption, as we know, currently not many countries are willing to adopt bitcoin as currency or as a means of transaction.
Because there are many reasons that make bitcoin not so easily adopted by a country. Maybe due to legal issues in force in that country or about dislike of bitcoin assets. So speaking of that,it will be difficult indeed, to make bitcoin adoptable by certain countries "for now"

But it is possible that in the future bitcoin will be accepted by all countries in the world. Because as you mentioned, there are also people who didn't like bitcoin at first, but in the end these people can change and can really like bitcoin. So with this fact, the hope that bitcoin can be adopted by all existing countries is still very wide open and you could say that all of these things could happen.
Because basically want any argument or opinion, if it aims to disgrace bitcoin, I'm sure it definitely won't be able to. Because of bitcoin assets, you can say that they are very good assets and have great potential. So for example there are people who research bitcoin who initially want to find a loophole in bitcoin, but in the end change your mind and decide to like bitcoin, it can indeed happen. And that includes for a country as well.

I don't know why some of you are still worry about government adopt BTC, based on the purpose BTC was created show that many governments official knew that BTC is a transformation of economy and the growth of a nation. Nobody force El Salvador government to adopt BTC, but today they are enjoying massive growth in their economy, and nobody will force other governments to adopt BTC because many influencers and wealthy men all over the world came to discovered that there is a bright future in BTC.  BTC was banned in my country some years ago because the government didn't Carry out their own personal research to know the potential of BTC before X central bank governor condemned BTC in the country and banned it. But the new government is doing a thorough research to ensure they lift the banned from BTC and crypto in the country because, the new government officials no the powerful transformation behind BTC to any government that will adopt it genuinely.

It's going to be laughable if the U.S. government actually bends to the pressure because if they understood the true nature of the technology, they would be thinking that they should have shut the network down while it was still small and still very possible to stop. They would have made a greater effort of finding Satoshi if they knew Bitcoin would be as unstoppable as it is today.

But the people doesn't have to demand anything from the government to be allowed to use Bitcoin. It's permissionless, and it's censorship-resistant.


Bukele wanted to go against the IMF, and what's the best tool to use? It wasn't merely a choice. It was necessary.

If it is general possibility then there is a chance, I think but I doubt that all governments would do so. There would always be doubts on their end simply because this technology is a new thing still. Also with regards to monitoring and transactions that governments are concerned of, this would not be easy to achieve for this industry. What's more likely to happen is gradual acceptance from sectors such as what happened recently wherein banking institutions are quite giving a short for cryptocurrency adoption. Well, regulation would more likely take place which is what making the process, complicated since it is in contrast with this technology's nature.

It's just funny how people are want to see Bitcoin is accepted as legal tender. I believe those people will not use Bitcoin as a currency and complaining the transaction fee is high, after all they will keep complaining and in the end they will use fiat to pay bills or daily needs.

There are already many online marketplaces accepting Bitcoin payment, I'd bet they're not even regularly order something and pay with Bitcoin. They will choose local online marketplace where it's more convenient and safe to use.

I think it's the power that be or centralization forces throwing in all they've got to see if they can control Bitcoin especially since they have realize it can't be killed or crashed to zero. It's more like the "if you can't beat them you join them" kind of mindset, but they are not only joining to benefit from it but to control it.
In the centralized system, they strive to master or control all things to prevent anything from getting in their future plans or agenda like vision 2020, 2030, 2040 and stuff like that. In order to predict the future, you should be able to control current events. Fortunately, no one in the centralized system can actually predict the future or control Bitcoin. Only the CREATOR of the Universe can, and HE reveals it to HIS prophets...as HIS Word says "HE reveals HIS secrets to HIS servants the prophets.

It is not at all a problem of the governments of the world, some of which have a negative attitude towards Bitcoin, but it is actually a problem of people who seek approval from their authorities to use Bitcoin. The whole situation is actually paradoxical because one wonders if centralized governments will agree to use decentralized crypto-currency and in that way actually begin to reject the power derived from national currencies.

BlackRock is a private company that at the moment thinks that it can make a profit with the help of Bitocin, and in a year they can change their opinion completely.What does that have to do with any government that should do exactly what?


El Salvador is an example of a country that found itself in a situation where it had to abandon its national currency and has been using another country's currency for more than 20 years, and Bitcoin was not something that got them out of the crisis in any way, but only gave them a lot of media attention.

Being early comers, early adopters have risk but it has more benefits and it deserves a risk you take. Bitcoin has been here since 2009 and if a country accepts Bitcoin in 2023, it will be less risk than in 2009. At least you know you arr not accepting what will die next days. Risk to see Bitcoin die tomorrow, next months since 2023 is smaller than risk it had in early years after January 2009.

With globalization, a country can not stay outside the whole world and it is unrealistic to accept Bitcoin if a whole world against it. Again Bitcoin adoption in 2023 excludes such risk that a nation will be alone by accepting Bitcoin.

I think 20 or 30 years are enough for me but honestly I don't invest in Bitcoin if I think it will die next 20 or 30 years. My vision is it will survive very long and I can leave my bitcoin to my kids after next more than 30 years.

I can not be sure about future but my vision has good belief in Bitcoin future.

What would you expect? Government would be always like this on which they would really be always mindful on how to apply taxes on anything. Now that they do able to see that cryptospace does generate that huge revenue whether if we do speak about incoming or outgoing transactions then it cant really be denied that volume does really involved huge or tons of money on which they cant really just let it slip away.

This is why it wont really be that something new if they would really be suddenly making out that kind of acceptance and trying out to flowering up things which seems like the do completely support cryptocurrencies
but we do know that behind those decisions are really having those kind of intent which it isnt really that shocking anymore.

They tend to adopt but all or everything for the sake of taxation and of course on the time that they would be able to apply it then this does mean that they have traced everything or monitored out.

You’re on point. The government may start to favor bitcoin in the future not to make it as a legal tender and rule over fiat, but to accept it as a payment system and to put a big tax on every bitcoin payment. That way, the government will gain the people’s trust again and may create hope that one day, bitcoin will have an equal position with fiat. But in reality, bitcoin is just being used and highly benefited by the government, but it will never come into reality that they will accept and adopt bitcoin as a legal tender.

It is widely acknowledged that powerful industries often exert influence over governments. While they may not have direct control over governmental decisions, their influence is palpable. Although I haven't conducted a survey on the matter, I can speak from personal experience. If major institutions were to embrace Bitcoin, they could potentially wield enough influence to impact government decisions in the future. However, the decentralized nature of Bitcoin is viewed unfavorably by governments, making it difficult to persuade them to adopt it. Such a transition would likely require considerable time, possibly spanning several years.

Many country are accepting Bitcoin but most of the countrys not accep9? Because It's control are not possible. But now a days we are seeing some countries allowing Bitcoin. Like El Salbador the accepting bitcoin as a legal currency. I think who are accepting bitcoin they are very visionary. They know in future it will very important subject. So i think every countries government will understand this importance and they will change decision and they will positive about bitcoin and also that's governments and they will adopt Bitcoin.

What government are we talking about? If you ask whether the US government will do it, I doubt it. Will some other countries do it, the way El Salvador did? Of course they will.
The problem with bitcoin at this point is that it's functioning more like a payment system for large transactions, so it can be used along, but not instead of fiat money. Also, replacing a fiat system with bitcoin would require that the government has to provide necessary infrastructure for all its citizens to be able to transact, so everybody would at the very least need a phone with Internet access. Most countries cannot do that.
I don't expect countries to adopt it as an official payment system, but I believe that they'll at least recognize it and make laws to protect people's right to own, transact and mine bitcoin.

Third world countries may follow El Salvador's example and actually adopt bitcoin but countries that already have "strong" currencies like US dollar, euro, rmb, yen, etc it's a totally different story. They won't be against bitcoin, maybe bitcoin may even be used on a large scale but I see it unlikely that it could replace a currency the government has total control over it. They would lose a lot of power.

I agree with your point, it sometimes depends on the kind of leader that a particular country or government has in place at a given time that will determine if that government will be Anti-Bitcoin or Bitcoin friendly. What brought El Salvador to where they are today is that have Bitcoin enthusiasts as their present and such a scenario may occur in the future.

When fiat currencies fail, governments launch an economical plan which aims to replace the currently fiat currency by a new one, which has a new name and number of zeros reseted. For people from first world countries it may sound strange, because they deal with the same fiat currencies for decades or centuries already, taking Dollar, for an example. But in third world countries every few years or decades we have a new currency, trying to fix the economical mess the country finds itself in.

So, it's really unlikely a government will try to use Bitcoin as a solution for the local economical crisis, as they can simply create a new fiat centralized currency under their total control. Especially now, as they incorporate the features of Bitcoin they think to be interesting to their CBDCs, while completely ignoring BTC as currency and its decentralized feature they hate so much!

We live in a world where traditional currencies are in jeopardy. Countries are printing too much money, not just the US. So here is an opportunity for bitcoin to take advantage of this dire situation unfolding. Even if the government wants to seize complete control over bitcoin and all cryptocurrencies, as long as their people are still using them for whatever purpose it is, that is better than ever running out of them. Still being used will still exist, so let's hope that in the not too distant future we can live in a bitcoin world true to the original purpose for which it was created.

Whatever the stand of Blackrock is where the stance of the US government since it's their biggest money maker. And CEO Larry Fink already express Bitcoin is digital gold. One side of the story is that China's BRICS money is about to launch in 2 weeks and is backed by Gold. and because the US is not going back to the gold standard, the US will be going for Bitcoin-backed currency.  I can only say all those lawsuits are BS and Gensler is one of those BS, just wearing my tinfoil cap.

Nope, I think you are wrong. Bitcoin is known by quite a lot of people, by some people in most cities in some countries around the world, but not everyone in all the countries really knows about it. Even some people who know about it are negatively impressed from how some real Bitcoiners feel about it. Some people see Bitcoin as a scam, and some people see it as something that is not real. Even in my country, there are a lot of people who don't even know what Bitcoin is. I was showing a friend of mine some fractions of Bitcoin in my wallet, and what he asked me was, How can I even sell this thing I call Bitcoin and convert it to real money? He was so sceptical, like he wanted to see me convert some Bitcoin to fiat and send it to my bank account, and I told him I didn't have the interest to do such a thing that day. He thought I was lying because he said that there are highly respected individuals who have the real Bitcoin, and what I have is not Bitcoin. So, in some parts of the world, there is still a lot of elusions, delusions, and confusion that most people have about Bitcoin.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

I think many are changing their minds over time, as Bitcoin keeps growing and gaining more attention. I think it's way less common to say Bitcoin is a scam than it was around 5 years ago. Instead, weaker stances are taking its place, such as that mining is bad for the environment or that many can lose their finds due to volatility.
But as for governments, I think it depends on a particular country, what we count as pro-Bitcoin, and which authorities we consider. My country is thankfully largely pro-Bitcoin, although it's nowhere near El Salvador.

It's not going to be that easy for them and it should be better off that way anyway. We're here because we don't want any authorities to regulate how we handle our money and we wanted privacy not just from the government but to any other strangers around the internet.

Not sure if "Bitcoin atheists" is really the right word for them since it's either they wanted privacy on their own coins or they're relying on a third party. I don't care if there are those sorts of "Bitcoin atheists". It's up to their own anyway.

In different contexts, we have perceptions that evaluate things sometimes are very contradictory, but looking back, things that are consistent with the trend of social change will always be accepted over time. Like another story I read somewhere on this forum, about the same person but a 5 year old child will be completely different from an adult. And with bitcoin, when people realize its potential can be applied in life, they will also accept themselves differently, as many people have seen it before as an environment containing a lot of criminal activity and up to now. At crypto development has brought insights and applications to a still very young market with a lot of unexplored potential. I have no doubt, because it actually benefits me personally and I can help others, so I fully agree with its development.

Pressure from citizens can make the adoption faster, but we all know how powerful the government is and they always stand on their words no matter the pressure they receive as far the policy will not favour them or make them make more money as they wish. They want a centralized system not a decentralised one.


This has to do with personal view and opinion about bitcoin and where they stand to benefit from it without government interference. They might even be the face of government investing into bitcoin in disguise for their benefit all. I still feel some optimism in the adoption, but not very soon.


I agree with this entirely but why we haven’t observed massive adoption by other countries is the state of El Salvador in the face of other countries, they are third world countries and a developing one for that matter. If it was a first world country that adopted bitcoin, we’ll be far from still discussing about adoption but now on how to improve its use and conveniency to all.

You just hit the nail onnthe head. Government of developed countries are always power hungry and won't ever see the need to adopt bitcoin since they'd have to relinquish their control over financial resources. Government exists because they can deploy resources at will or even print a shit ton of the country's native currency. This isn't possible with Bitcoin since it's capped.

@OP, Government stands may never change. Maybe a future is coming when a large number of people dumped their native currency for Bitcoin by then they'd have no chance than to join the train. Until they, they have nothing to gain. The reason Blackrock and JPMorgan has begun offering Bitcoin and crypto products is because they don't want to miss out of the gains since the Bitcoin and crypto userbase tends to multiply especially in a bull market and we'd have several of those.

If interacting with the bitcoin network forever doesn't require user kyc, then external policies won't change its decentralized essence. So let the government try as much as they can, abolish the bullshit policies or keep all bitcoiners legally criminal.

That's why I never believe what they say, I will only believe what they do. We all want money, and government is no exception, I believe the elephants behind market manipulation can be government, banks, any organization that is smearing bitcoin day by day have, they possibly a whale. But getting them to accept bitcoin is really another matter because if they openly support bitcoin, they are shooting themselves in the foot trying to destroy their centralized system.

Since Bitcoin has increased, many governments in a country continue to monitor the development of Bitcoin, and I am very sure that one day the government will adopt Bitcoin, but this all needs a process because there are many things that must be fulfilled by the government because Bitcoin is decentralized so there must be a right decision if adoption occurs, this problem has actually been a long time and until now there has been no best decision.

Well I've always known that government  will definitely  have a change on their perspective  for putting strict restrictions  to bitcoin,  I've heard of stories of government officials in a country like mine were cryptocurrency isn't accepted also having some huge fraction of bitcoin  in their possessions and since it is decentralized,  there wouldn't be any trace to them.
El Salvador  is an example of if you can't beat them join them but I've also had some conversations with some citizens and residents of El Salvador and it seems not all of them are ok to use bitcoin and it seems it was forced on them.
In my country,  we're  already seeing alot of youth's moving into politics and majority this people already have some good amount of bitcoin  and when they get into power I believe  the law will be lessened and that's for my country because they  wouldn't want it seem their breaking any law.

In conclusion, I believe  the government  will soon than expected accept bitcoin  global.

This is just a common human behavior, first they thought if they fight Bitcoin that it'll die but they have now seen that Bitcoin isn't dying instead it's producing new wealth and for them not to missed out they have to accept it inorder for them to be able to control it but that intentions of theirs will also fail since they won't be able to control Bitcoin. Bitcoin isn't centralized and they can't centralized it by seeking for approval of things like ETF.

This isn't a matter of at some point anymore because the government have already started giving Bitcoin attention. Laws & regulations are been drafted to tax bitcoin investors and traders and some exchange have been getting license to operate which weren't happening before.

I don't believe that the government are out of Bitcoin investment already, but it's something they can never come out in the open to reveal to the world, maybe all the hate is also a big plan of shaking money off from people, with fear and panic, it's just a saying don't take it as a fact.

To the whole world, the government must hate crypto and Bitcoin most especially because it's centralized vs decentralization, even if one part of the government likes Bitcoin they have to pretend to hate it, look it's more beneficial to them because the world still follows the order from the government.

I won't be surprised if the government are pumping and dumping crypto and they are already in the game too, think about it very well, it's beneficial for those in power through manipulation, real manipulation is money making in crypto world.

Ohh think government will always stay negative when it comes to Bitcoin adoption. The issue is not with the government but it’s behind the tech it use which is decentralised. As the CEO mentioned it’s all about that dilemma where some people are using it genuinely while some of them are misusing the bitcoin for money laundering purposes. I don’t know to what extent this fact can be proven but that’s what making regulatory bodies like SEC to rethink about Bitcoins nature. Till date there is no solid stance whether Bitcoin is asset, commodity, security or something else. Unless and until there is no provision to define this we will never be sure about the Bitcoin being accepted by Government at all.

The fact that the government represents what the people want means it's just a matter of having a politician that will give a listening ear to the people and why they need bitcoin legalized, and once this is done other countries will certainly want to emulate this and not miss out on the digital revolution.

Just like the text in the photo," Bitcoin doesn't change,  Bitcoin changes you " sounds just about right and this is what's happening.

The "government" consists a political parties(one or more), who rules until the end of their mandate and get replaced(in most cases).
The government accepting Bitcoin would mean that all political parties will have to accept Bitcoin. This is easier said than done.
I think that the governments around the world(especially the governments of the big countries) will keep pushing CBDCs, while trying to oppress Bitcoin/crypto in one way or another. People like the CEO of Blackrock or Jamie Dimon could shift their opinions like total hypocrites. One day they are Bitcoin supporters, the other day they start criticizing Bitcoin and spreading FUD. You can't trust such sociopaths.

I also have the same question because nowadays, there are not too many governments banning bitcoin, most of them already accept bitcoin. But I saw him mention accepting bitcoin as a legal tender of El Salvador, so I thought he was referring to accepting bitcoin as a payment method or currency, not a commodity. And if that's what the OP meant, then I really doubt it, I wouldn't believe other governments would do the same thing as the El Salvador government did. They will never allow bitcoin to become the world currency and replace the current fiat system.

With so many news where MicroStrategy start to buy Bitcoin, Pakistan and other country allow their citizen to use Bitcoin, El Salvador and Central African Republic accept Bitcoin as legal tender, and the latest is Blackrock accept Bitcoin as ETF, now you're still asking if government would change it's stand and adopt Bitcoin? I mean there were many proof and yet you still not convinced about Bitcoin adoption.

It's already 2023, it was not when each Bitcoin worth for $1,000.

That will automatically remove the fantasy of privacy in btc when the government eventually decided to support btc don't you think?

I mean which government in it's control nature will adopt a decentralized technology where they will lose the ability of control over it's citizens? They will most likely centralized it. And you know when that happens kyc is a must for you.

Control is one feature government can not lose, financial or otherwise because if they don't have it, I doubt that government can function properly. Government needs to keep it's citizens in check and control gives them that power.

So imo, it will be better the government stay away from btc adoption, they should stick to having their central bank digital currency. And the idea of accepting btc in businesses should be optional among the btc community.

Honestly, lately I have just been having a rethink of all this pushiness that the government should legalise Bitcoin, that Bitcoin should become a global currency, and all other things. We all know that the interest that the government has in Bitcoin would only be for their own self-benefits like collecting taxes for people who spend Bitcoin, monitoring the transactions of individuals using Bitcoin, and putting some rules and regulations in place for how you can spend your own decentralised Bitcoin.

Who would be happy if the government decided to build their own centralised Bitcoin wallet and ask every Bitcoin user to create their Bitcoin wallet with that app to enable them (the government) to collect tax from every transaction carried out? Who would be happy about that? For example, if you send $20 worth of Bitcoin, will you be charged a $5 transaction fee instead of the normal $0.5–$1 fee?

Everybody in this world must not use Bitcoin (it's not a must), but even at that, with every passing day, I believe that somewhere in the world, there is always a new user coming on board.

We should be careful about what we desire so that, in the end, it will not affect our free use of Bitcoin.

Bitcoin is for those who believe in its power (taking control of their finances) and freedom (no third party involved).

Anyway, that's just my opinion.


Cheers 🥂, Dr.Bitcoin_Strange 👺👺

I remember years ago, most countries banned and had a negative view of bitcoin but years have passed, and now we can see they are slowly opening up to bitcoin and accepting it to a certain extent. Today, not too many countries ban bitcoin, but for bitcoin to become a replacement currency or payment method for fiat is highly unlikely. The government will not accept it because bitcoin will reduce their power because they have no control over bitcoin. The government will only accept anything as long as they can control it and benefit them.

Base on my observation, government is dynamic in nature base on the fact that different people with different view get elected into office. If a crypto enthusiasts finds it's way into any of the government office , such one can influence the government to accepting Bitcoin Adoption.  As time goes on and bitcoins become more popular among the elite and the common man, it has a greater chance of acceptance.
With that been said, it's acceptance will be heavily regulated to avoid scam and scam related issues.

My perspective

Just as the future is uncertain and no one can predict the future, The government may seem aggressive today on Bitcoin and cryptocurrency adoption, and tomorrow change their stand due to high pressure and demands from their citizens to use a technology like Bitcoin in the coming years. If BlackRock CEO criticized Bitcoin in the past and later turns to embrace what he kicked against, the government may do so because the government is run by friends of these individuals or people who own these companies, and they may have influence When it comes to government matters.
El Salvador is a leading example of government in the front run of Bitcoins adoption and when more countries' governments follow suit in the race, other ones will not want to be left behind, they too will join the queue.

Let's have a general discussion, what is your standpoint?

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I think that in the long run most countries are just trying to jump off the USD train, I mean just the other day Ethiopia joined the application list for BRICs along with a bunch others where Ethiopia came from! Now apparently BRICs is planning to be pegged on a gold backed currency. Other countries like China are fully blown on CBDCs using social media apps and social credit systems for total dominant control. I like El Salvador's approach best tbh, going balls to the wall on Bitcoin.

We are really in the midst of a currency revolution, and from what I can tell its going to take quite a while to see any real change, but I think mostly that when we do we will see a pretty fast sweep from cash being king to CBDC+Cash to no cash and only CBDC, which might cause an uprising and "currency crisis" people will continue moving over to bitcoin gold and silver and other asset classes for some sort of relief. I think that trusted custodial solutions for crypto for the average joe is going to be crucial for its continued adoption. When you have companies like ledger giving crypto a bad name & people that don't really know how BTC works but want to get involved that could be a recipe for disaster for some people. Only time will tell what happens, but honestly thats just my two cents.  

The panorama that shows the adoption of this asset currently in the world, allows us to think that sooner or later it will be involved by all the regions that exist on the planet, the advantages that bitcoin brings are incomparable, governments are clear about that, and for this reason some are already making the decision to incorporate them into their economy, the rest simply do not have the security yet to be able to deal with it, since bitcoin is a practically indomitable and decentralized currency, but they are used to having control over the assets that handle and about the people who handle said coins, contrary to what would happen if they accept it, it may be for this reason that it does not advance quickly. However...... I can assure you that the moment they agree and take a valid initiative that definitely addresses BTC, the world will enter an eloquent change...... a new era.

Of course, yeah. What is a government, after all? For all intents and purposes, it is nothing but the leader or leaders that are in it. If Biden, for example, is against Bitcoin, it doesn't mean the US government will remain anti-Bitcoin forever. What if RFK Jr., a Bitcoin supporter, wins in the next election? The US government might change its stand and support Bitcoin.

The stand of the government is nothing but the stand of its leaders. My government was pro US and then it turned anti US and then pro US again. And that's because elections give us different leaders.

The issue of countries adopting a specific thing is not difficult. All you need is for certain countries to succeed in taking any direction, for there to be a political motive and people’s satisfaction, and the government will find acceptance of the new situation, so when there was a high adoption of Bitcoin, several countries succeeded in accepting Bitcoin and benefited from it then. Acceptance of a particular government or all governments is a matter of time.

Personally, I do not expect that to happen soon, and perhaps we need to wait for at least 50 years, then this technology will have matured and become of high market value, and then there is no risk in adopting it. Meaning by 2060 it will be very possible.

If you pay attention, you will notice that the institutions you are talking about are financial institutions, not one of which is government. If what you are talking about is that governments will accept bitcoin as a legal tender, then I believe that will never happen. Bitcoin may be legalized in all countries in the future, but making it legal tender globally is an impossible task.

El Salvador is a country without a primary currency, they use USD as their currency, and their economy is on the verge of bankruptcy, so bitcoin is seen as their gamble. As for the great powers, countries with developed economies, there is no reason to accept bitcoin as a currency.

Government is against because of the people who run the biggest monopolies, when they join Crypto, government will join crypto. They are forcing government as of now to sell their stocks which they are holding. If no one buys them, how will they profit? And once they realize no ones gonna buy those shitty stocks, they will surely move into Crypto assets and promote them or get big organizations to adopt it so it pumps up their bag.

It is unlikely that governments will accept Bitcoin anytime soon. Because all they want is control and taxes. It is very difficult for them to do this in Bitcoin. However, after a while, Bitcoin will become a globally accepted asset. Because even in the examples you gave, those who used to criticize bitcoin are defending bitcoin today.

They may not want change, but they have to keep up with it.

It’s not abnormal to approach a new innovation with great caution especially one that threatens the stability of governance as by means of taking some of its executive power. Like animals or even our human system, it tends to fight anything Dorine upon discovery, not except there is a disguise by means of hormone generation to simulate something natural.

It’s the same thing we are observing here with the government and the bitcoin innovation. It’s the government’s place yo protect its citizen against anything foreign or innovations that could result in the fraud if of its citizens but as it is, it’s hard to say that’s the case now for the government when we look at bitcoin. There’s isn’t backed by ignorance any more but, a fear of its citizens having a major control of their finance, the government isn’t ready for that.

Not all countries would want to make BTC a legal tender, However, Legal tender or replacing the state currency is not exactly the focal point of this discussion, but adoption in the sense that if the government will in future start recognizing the use of Bitcoin in a country that doesn't right now, such as trading and investment into Bitcoin and many more rather than how they presently see it now.

For instance, we have some countries where you cannot do anything related to crypto because of their government's aggressive policy and the question is, will the government later change their minds? Just as seen some prominent people did raise critics in the past and today have changed their minds and embraced it, so can we see that happen with the Government?

Technically, I don’t see the government adopting bitcoin now or anytime soon as long as they continue not to have control over it. Bitcoin being a borderless and decentralized digital currency challenges the traditional notion of centralized control and makes it less likely for governments to fully adopt Bitcoin without imposing restrictions. It is also important to know that while governments do not fully accept bitcoin, individuals within the government use and invest in bitcoin on personal level but this doesn’t necessarily reflect on the government’s official stance.

There's no popular pressure for it today. The politicians are very good at recognizing the social trends and appealing to them. And we don't see a lot of politicians bringing up the topic of Bitcoin. That's because they know it would be a waste of people's attention to talk about it, when they could instead focus on something that could boost their approval.

This is another marker of Bitcoin's adoption. Which shows us that even after all these years, it's still at a very low level.

The government's issue with Bitcoin, I believe, stems from its decentralized structure.

Governments want something they can control and profit from, but Bitcoin can never be controlled. I don't believe governments in underdeveloped nations will accept Bitcoin as legal tender; so, the only thing that might happen in certain countries that have yet to legalize Bitcoin is that its residents will be allowed to use Bitcoin at their own risk.

Like the known quote about money;


And with their stance before, that have changed them into a better person today because they see the opportunity is on it. Or, they're just playing fool and making everyone believe that they're against bitcoin so that there won't that be much demand and they can pick it while the prices aren't as high as possible.

Going to the point of government, most of them are actually neutral and whoever is at the top of these officials dealing and concerning topics about Bitcoin and cryptocurrencies. They're probably just weighing things around so that they won't compromise the bigger institutions favoring Bitcoin with their policies, so, they really are careful in balancing laws and reviewing the benefits of it upon adoption.

Wrong

Bitcoin is a failure in terms of adoption there. Hardly anyone uses it, apart from those who wanted to take advantage of the bonus by using the Chivas wallet.

It is completely irrational for a state to decide to use a non-state currency.
Bitcoin isn't even designed to replace a state currency. At best an alternative but nothing more.

Unless you accept to
- not be able to buy your own house,
- accept to see almost zero companies created
- accept a high unemployement level
- accept poverty

It's just a few exemples

For sure there would be several countries which really be having that reconsideration but the numbers wouldn't really be to outweigh to those countries who would really be totally opposing such idea
or acceptance in according into its existence which it isnt really that shocking if you do ask me. Government would really be always having that bad impression towards Bitcoin or overall crypto space

Dont make ourselves that too optimistic or really that hopeful that there would really be some change of heart or decisions that they had made because whether we do like it or not
they would really be making up decisions on which they would be able to see that it could benefit them, but if not then it wont really be that shocking that they would
really simply ban it or prohibit which its better to anticipate or expect that way rather than on being too optimistic which it would just bring out disappointment.

There is a saying that the journey of a thousand miles begins with one.

And I think many countries are still asleep, by the time they see what El Salvador saw, they are going to wake up from slumber.
El Salvador, having understood that a system where they continuously print money is doomed to inflation and cannot be sustained over time, saw the need to embrace deflation over inflation and swing into action by adopting Bitcoin, and now we have two countries on onboard. Let's watch what the future brings.

Everything is a possibility as they change their perspective towards the crypto market.
Just like many known businessmen or personalities who had negative view towards bitcoin in its early years,
they can alter their approach by modifying some laws to accommodate the businesses related to crypto.
Because they are now seeing that even without government intervention, this market is continuously growing.
So to take advantage of this opportunity, and get something out of it, they can review their regulations towards this market.

It has been obvious that the government had been adjusting its laws and regulation to accommodate cryptocurrency.  They may be at some point in the neutral zone but we all had observed how some government are wanting to take advantage of the growing industry.  Since they knew that they will be missing out if they just don't go along the flow of technology.

Aside from that, we all know that the only constant in this world is change so asking whether the government has the possibility to change its stance then for sure it is a yes.

Bitcoin is giving Blackrock too much publicity right now, hence they want to make sure that they don't lose the charm of the public with it by letting go of the ETF. Also, with the positive reception of the masses to what they're doing with the ETF, they know that they can make a lot of money with it that's why they're trying to push it with all their might. They're an entity trying to make more money, so it makes sense that their perseverance on the matter is really high. The governments however, they don't have anything on bitcoin yet. They are still reliant on banks making them money and bitcoin is something that could change that. They are still trying to weigh their options before going full steam with bitcoin. Í

If the adoption you are talking about is legal tender status, then you shouldn't be optimistic about that. I don't think we are going to experience centralized governments massively adopting BTC as a legal tender, especially the governments of first world countries, because in my honest opinion they don't have to and they won't achieve anything doing that, instead they'll lose some of their censorship strengths.

What we can expect is more governments setting a standard regulatory framework for BTC, they will accept it as a financial activity in their country, but they will regulate it and earn taxes from it.

Definitely the government will have a change of heart towards bitcoin not because of blackrock or other institutions but because it is a technology that is here to prove many wrong. Just like the internet and some other technologies came into existence and it was frowned upon by people and later embraced after finding out how easy it could make the daily lives is the same way bitcoin adoption will rise.

As we grow into more economical difficulties caused by inflation, fiat devaluation and the hassle of doing cross boarder trading many will turn towards bitcoin. And if the number continues to grows then as we all know the government they wouldn’t want to be left aside so I am sure they will jump on it just to regulate it and possibly place taxes on it. So yes many people begin to realize how bitcoin can solve some of the modern day problems faced in economy/finance more adoption will grow and so will the government also relaxes the laws against bitcoin

I think there's a possibility of the government becoming soft in the area of accepting to adopt Bitcoin because despite the fact that there are individuals who are of the impression that it's a sham, a front for crime and not safe, there's those who see it as a pathway to financial freedom and a way to maintain privacy.
With the way hardcore Bitcoin atheists are suddenly eating their words, it's no surprise that the move to change their stand would happen sooner rather than later.

Everything can change over time, if not now then certainly in the next generation. As long as governments are sure what they will gain by adopting bitcoin, then they may adjust in the future. Of course it won't be easy, it takes time and it takes a lot more to expect the government to change its policies.

I expect the government to change its attitude towards bitcoin over time, but they shouldn't rush into it without a lot of consideration. We know they don't want to get out of hand and don't expect a lot of people to be breaking just after the adoption is announced, that includes preventing abuse and other precautions.

If the government really want to satisfy the people they would have granted every permission for the adoption of bitcoin everywhere but they don't want to have anything that could undermine their own authority over the people and their financial economy, don't be surprised that if some of them were not to be in power, many of them would have wanted to adopt bitcoin as well, their fear is the role bitcoin has come to play by giving financial freedom, trust  and decentralization.


We cannot predict ourselves not to talk of others, we only know about today but never have an idea on what tomorrow may turn because we things change over time, there are many instances that we finds ourselves doing what we never thought or expected of ourselves doing just because of change, anything can happen tomorrow and we begin to see the government in support of bitcoin for adoption and use as a legal tender.

People who care about making money often change their stance on Bitcoin if they start out as skeptics.  But those who care about controlling the populace, like governments, won't be able to accept Bitcoin fully.  Bitcoin reduces the power of governments to control and surveil their citizens and gives power back to the ordinary people. 

The only reason the El Salvador government likes Bitcoin is because there's an even bigger power, the IMF, trying to control them.  Smaller nations with struggling economies might see limited government approval for Bitcoin, but beyond that, I don't expect much other adoption.

Here is a post that drew my attention to writing this topic.
The biggest hedge fund manager, BlackRock sometime in 2017 criticized Bitcoin, and presently they have filed for Bitcoin ETF approval and gradually becoming a Bitcoin evangelist, not only BlackRock, other folks like Jamie Diamond, the CEO of JPMorgan Chase, and Micheal Saylor the former CEO of MicroStrategy just to mention a few.


https://twitter.com/BTC_Archive/status/1677710039660855296?t=_GSHd-hYZ89mRszuoEu2UA&s=19


My perspective

Just as the future is uncertain and no one can predict the future, The government may seem aggressive today on Bitcoin and cryptocurrency adoption, and tomorrow change their stand due to high pressure and demands from their citizens to use a technology like Bitcoin in the coming years. If BlackRock CEO criticized Bitcoin in the past and later turns to embrace what he kicked against, the government may do so because the government is run by friends of these individuals or people who own these companies, and they may have influence When it comes to government matters.
El Salvador is a leading example of government in the front run of Bitcoins adoption and when more countries' governments follow suit in the race, other ones will not want to be left behind, they too will join the queue.

Let's have a general discussion, what is your standpoint?