If the government supports bitcoin instead of the existing currency. - page 12.

panjul07

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Quote from: johnalyn on November 15, 2018, 02:51:38 AM

If the governments support bitcoin instead of their existing currency it would be a great opportunity to those people who are not yet been involved to bitcoin. And it would help them and the other investors to increase their knowledge about Crypto to make a valuable investments in any currencies that are in the market.

I do even think the opposite way, if government support bitcoin instead fiat then it wont be good for bitcoin. The statement means that fiat is replaced by bitcoin, it means that bitcoin should have stable value to replace fiat. Otherwise, it will give bad effects for the economical condition of the country if the price is not stable. People may become very poor once bitcoin price drops so bad, of course people may become richer once its price raise significantly. Volatility of bitcoin price is dangerous to be used to replace fiat currency.

johnalyn

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If the governments support bitcoin instead of their existing currency it would be a great opportunity to those people who are not yet been involved to bitcoin. And it would help them and the other investors to increase their knowledge about Crypto to make a valuable investments in any currencies that are in the market.

bce

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maybe if the government supports bitcoin I think it's a pretty good change and certainly follows the development of the era and technology which is certainly growing too

mornabo

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Quote from: princeyeboah on November 10, 2018, 09:16:05 PM

Most of the governments are not in support with the idea of crypto because it takes their power over the finance of the people and gives it back to the people. However, the governments can accept cryptocurrency and as well create their own coins and manipulate it as they deem fit. Amidst this, Bitcoin will still gain value because it will be a major pairing on the market.

You right system in bitcoin makes the government not a superpower anymore, because there is no control on every user financial transaction, of course it is impossible for the government to support bitcoin without certain conditions, because it will harm the government itself ?

patrikpat1

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it's not going to happen, because goverment does not support good things Grin

Escf4

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GIGZI - INDEPENDENT WEALTH MANAGEMENT

Well that is a very good improvements if ever tge government supports the bitcoin instead of the existing currency , that is the dream the cryptocurrency holders are aiming to be fullfilled that it wull accepted by the government, tbat is also a big possibility that will happen in the future, and we hope it be realized.

princeyeboah

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Most of the governments are not in support with the idea of crypto because it takes their power over the finance of the people and gives it back to the people. However, the governments can accept cryptocurrency and as well create their own coins and manipulate it as they deem fit. Amidst this, Bitcoin will still gain value because it will be a major pairing on the market.

xuan87

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Quote from: Nasty23 on November 10, 2018, 07:22:12 PM

Quote from: Yamifoud on November 10, 2018, 06:18:25 PM

Quote from: nebiki on November 10, 2018, 02:49:27 PM

I'm not sure if the government supports bitcoin, not even the currency. of course the government will support it if it is included in its thinking and not harmful. bitcoin is difficult to control and its anonymity makes the government unwilling to support it even if it accepts it.

The government will give support if they'll get something from here. If the community allow its legalization and tax imposed by the government, they might have no conflict with it and the government will bring crypto into more known currency.
I know the government are willing to support crypto but it somehow some individuals taking advantage of its anonymity and used this into illegal activities.

Yes, some individuals used it into illegal activities on which makes the crypto hard to implement in the community but, the government now will started to take a step in order to stop it on which can help the cryptocurrency to be adopted in the community sooner that everyone can be able to use it in secure and for the fast transaction in their daily lifes.

Really hopes that it could happen soon, crypto could really be useful for all transaction, even the global transaction will become easier,if the government decided to implement crypto, I believe there will be an increasing in economic system, crypto could be used for bad thing and good thing so people not supposed to judge crypto because of some people used it for bad things

Stac

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Bitcoin is a modern form of economy which is linked with the modern technology. It has a strong net work systems with the specific
characteristics.Its features are found attractive to the global investors such as a decentralized one with anonymity and its all transaction are recorded in an electronic ledger with the block chain technology.The block chain technology ensures its clarity and and security systems in tact.We can imagine a corruption free world by the introduction of the block chain technology.The economical concept of bitcoin is found deem suitable to the modern world. Bitcoins can be useful as an investment tool, day trading since it is volatile in the market ,It is a good media for transaction with out a third party interference,Bitcoin can be useful for the local and international shopping and it can be useful for the service bill payments etc.In such a situation if the government support bitcoin instead of existing currency or to operate parallel to the existing currency.

Nasty23

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Yamifoud on November 10, 2018, 06:18:25 PM

Quote from: nebiki on November 10, 2018, 02:49:27 PM

I'm not sure if the government supports bitcoin, not even the currency. of course the government will support it if it is included in its thinking and not harmful. bitcoin is difficult to control and its anonymity makes the government unwilling to support it even if it accepts it.

The government will give support if they'll get something from here. If the community allow its legalization and tax imposed by the government, they might have no conflict with it and the government will bring crypto into more known currency.
I know the government are willing to support crypto but it somehow some individuals taking advantage of its anonymity and used this into illegal activities.

Yes, some individuals used it into illegal activities on which makes the crypto hard to implement in the community but, the government now will started to take a step in order to stop it on which can help the cryptocurrency to be adopted in the community sooner that everyone can be able to use it in secure and for the fast transaction in their daily lifes.

farosa

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1 & 0 😏

Quote from: pinoyden on November 10, 2018, 10:23:31 AM

Quote from: Sirait on November 10, 2018, 09:50:00 AM

this will still be a dream, the government will never support Bitcoin. I'm not pessimistic but look at the reality, Bitcoin is considered a threat to the stability of the world economy in the future by the government and the IMF, in the future I don't expect too much the government will use Bitcoin and eliminate the currency that is currently circulating. I just hope Bitcoin and all cryptocurrencies can walk together with fiat currencies currently in circulation.

You must be dreaming , cant you see that bitcoin and any other cryptos are now being used globally ? we can now see bitcoin atm's , shops that accept cryptos and any other exchange locally that already using it .

that is only an evidence that governments on most countries are now already supporting bitcoin/cryptos but there are still fewer ones that currently stricts the use of it .

Though Im not really sure if those governments/countries will soon change their minds . lets hope they will , because that can even help the price to movr upwards .

The existence of cryptomats is not the reason that they support it. Have you ever noticed the difference between buying and selling? It is between 600-700$ and the money they earn from it could cause them to use ATMs.
There is no obligation to accept Bitcoin and they will most likely not do it.

Yamifoud

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Quote from: nebiki on November 10, 2018, 02:49:27 PM

I'm not sure if the government supports bitcoin, not even the currency. of course the government will support it if it is included in its thinking and not harmful. bitcoin is difficult to control and its anonymity makes the government unwilling to support it even if it accepts it.

The government will give support if they'll get something from here. If the community allow its legalization and tax imposed by the government, they might have no conflict with it and the government will bring crypto into more known currency.
I know the government are willing to support crypto but it somehow some individuals taking advantage of its anonymity and used this into illegal activities.

Salloystic

newbie

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I will appreciate it if the government of my country can work toward the use of cryptocurrency. I know in my country it will be quite difficult because there are some hindrances such as:
1.Low level of technology
2. High level of illiteracy
3.corruption
4.lack of experts to operate machines e.t.c
If all the above hindrances are remove and government is willing to support cryptocurrency it will help in developing the economy of the country and it eliminates theft of cash currency.

nebiki

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I'm not sure if the government supports bitcoin, not even the currency. of course the government will support it if it is included in its thinking and not harmful. bitcoin is difficult to control and its anonymity makes the government unwilling to support it even if it accepts it.

pinoyden

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Quote from: Sirait on November 10, 2018, 09:50:00 AM

this will still be a dream, the government will never support Bitcoin. I'm not pessimistic but look at the reality, Bitcoin is considered a threat to the stability of the world economy in the future by the government and the IMF, in the future I don't expect too much the government will use Bitcoin and eliminate the currency that is currently circulating. I just hope Bitcoin and all cryptocurrencies can walk together with fiat currencies currently in circulation.

You must be dreaming , cant you see that bitcoin and any other cryptos are now being used globally ? we can now see bitcoin atm's , shops that accept cryptos and any other exchange locally that already using it .

that is only an evidence that governments on most countries are now already supporting bitcoin/cryptos but there are still fewer ones that currently stricts the use of it .

Though Im not really sure if those governments/countries will soon change their minds . lets hope they will , because that can even help the price to movr upwards .

Sirait

full member

Activity: 1890

Merit: 101

this will still be a dream, the government will never support Bitcoin. I'm not pessimistic but look at the reality, Bitcoin is considered a threat to the stability of the world economy in the future by the government and the IMF, in the future I don't expect too much the government will use Bitcoin and eliminate the currency that is currently circulating. I just hope Bitcoin and all cryptocurrencies can walk together with fiat currencies currently in circulation.

Rooster101

sr. member

Activity: 826

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If bitcoin become centralized, some country might use it as one of the legal tenders but they will not use it to replace their national currency. Bitcoin, aside from being a decentralized cryptocurrency, it is also more risky and volatile than the fiat, and it fluctuate rapidly. Bitcoin has also a limited circulation if you compare to fiat it would be the best for bitcoin as a alternative currency

clololck

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How can this happen? Even if the cryptocurrency is a myth, it is attached to the traditional currency. It is just a better coin. It does not mean it can replace the original coin system.

KKH84

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I think everything can happen because only the government can make regulations and as long as crypto is still a commodity while the government has control over two crypto and fiat currencies.

Lumi3004

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If the government supports bitcoin it's a good idea with positive support.well, when it comes to paper money, I think as usual, only bitcoin transactions are facilitated in exchange, so people are no longer worried about negative things, 100% more trust in bitcoin because there is support from the government ..

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