Topic: Does it even matter if governments and banks accept cryptocurrency? - page 11. (Read 2284 times)
October 19, 2018, 10:03:16 AM
Of course it does matter. We live in a society where law and order rules. If we want to be able to continue using bitcoin legally, it needs to be accepted by the government we are in.
October 19, 2018, 09:59:58 AM
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
Why so? Do you think it's easy to topple governments just because AI and blockchain is taking over? I don't think so. We only need the governments and banks approval because they run the whole economic scene; their approval is somewhat valuable if we want to continue using bitcoin and other related services connected to cryptocurrencies without any restrictions and unfair limitations. They don't necessarily need to integrate bitcoin and cryptocurrencies in their infrastructure, but having them approve the existence, trade and exchange of bitcoins and other cryptocurrencies is a huge plus for the confidence of the masses who would want to try it out.
They run the whole economic scene for now because not everyone has accepted crypto, and rightfully so. It's not stable and a variety of things can turn south. Once escrow systems and distributed exchange networks are put in place, eliminating the need for exchanges that can be shut down by governments (or hacked), it will likely become the norm by default. There would no longer be a reason not to take part and everyone would save a ton of time and money due to the efficiency of transactions and absence of fees. Businesses owners would also be at ease in each step of the supply chain not because of laws that can easily be broken but because of blockchain.
October 19, 2018, 09:57:27 AM
There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
of course it does matter!
it is,basically , the endorsement of the crypto by a state , you can expect the number of people using bitcoins
or other crypto in that country effectively quadruple, it will also do wonders for the adoption in other countries
this can cause a chain reaction where this positive experience be used by other countries as well
even if it starts as an experiment, it will surely help a lot
October 19, 2018, 09:51:07 AM
Personally I think the banks and governments matter a lot when it comes to the acceptance of cryptocurrency. If banks and governments finally do accept crypto currencies, there will be a mass adoption from the public. Most people attracted to cryptos but are reluctant to get involved because of the fear that their governments may not support cryptos.
October 19, 2018, 09:50:57 AM
Absolutely it does matter when the governments and the Banks come into a conclusion to accept cryptocurrency, this will give a face lift and exposure into cryptosphere. The involvement of these parties cannot be over emphasis as they will bring more innovations into Blockchain technology(cryptocurrency) with their experience in the traditional method.
October 19, 2018, 09:31:51 AM
They do have lot of pros and cons if they ever accept the crypto currency. The fact which you said about the security will also be applicable to it today because they add up more regulations and a way of using it. This means a lot to the crypto community as we lack these things today and can be improved by government themselves once they start using it. Now there is also another benefit of this change, with the time crypto being accepted by government and banks, one can have major revolution in the blockchain due to need to explore more and more ways of spending the same. I have got like more positive feelings about it than the negative one.
October 19, 2018, 09:29:53 AM
This question has come up time and time again, and honestly, I think the answer is going to be yes -- even though they're going to be selling it for fiat immediately. This is still something that promotes adoption and allows people to use their cryptocurrency to pay for taxes, permits, fees, (and bank related activities)
So yes, yes it does.
So yes, yes it does.
October 19, 2018, 09:26:57 AM
It really depends on what you mean by "accept".
If you mean the government "accepts" bitcoin in terms of legality, then sure. It has a significant effect, whether or not if it's actually going to be used for payments or for store-of-value only. While bitcoin will definitely not go anywhere even if it becomes illegal, bitcoin being legal is still quite important. Though bitcoin can still work without their interference. It's just that people are likely more to hold and use bitcoin if it wasn't illegal.
If you mean the government "accepts" bitcoin in terms of legality, then sure. It has a significant effect, whether or not if it's actually going to be used for payments or for store-of-value only. While bitcoin will definitely not go anywhere even if it becomes illegal, bitcoin being legal is still quite important. Though bitcoin can still work without their interference. It's just that people are likely more to hold and use bitcoin if it wasn't illegal.
October 19, 2018, 09:20:51 AM
I also think that blockchain will be difficult to work with banks because the government still rejects crypto, so this will be difficult to come to the fore.
October 19, 2018, 09:13:02 AM
There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
if the government and bank accept the cryptocurrency it will be better, because crypto will be stronger, but accepting or not crypto has moved forward with a large community that cannot be stopped I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
October 19, 2018, 09:06:00 AM
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
Why so? Do you think it's easy to topple governments just because AI and blockchain is taking over? I don't think so. We only need the governments and banks approval because they run the whole economic scene; their approval is somewhat valuable if we want to continue using bitcoin and other related services connected to cryptocurrencies without any restrictions and unfair limitations. They don't necessarily need to integrate bitcoin and cryptocurrencies in their infrastructure, but having them approve the existence, trade and exchange of bitcoins and other cryptocurrencies is a huge plus for the confidence of the masses who would want to try it out.
October 19, 2018, 08:47:33 AM
There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
Of course it does, because somehow when people knew about that banks do accept it then they would try to interact with it and there will be more volume inside the crypto space.
October 19, 2018, 08:45:03 AM
There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.
In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.
Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.
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