Topic: If the government supports bitcoin instead of the existing currency. - page 19. (Read 24974 times)
August 07, 2018, 03:01:59 AM
No government will support bitcoin instead of their fiat currency because it will cut down their revenue a lot.But we no need anyone's permission to use our bitcoin just need the address to send bitcoin and the internet.No governments can restrict you from using an decentralized currency.
August 07, 2018, 01:54:47 AM
Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?
Bitcoin must be much more stable than this so some country can accept it as official currency, Tether is more likely to start with. There would not be new for some country to take new currency, new countries who get independence often take some universal currency for their own, but it would be revolutionary if that would be crypto.
August 07, 2018, 01:48:58 AM
Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?
So far I know that only a few percent of the government in every country that supports bitcoin and more are in conflict and some of them choose a neutral attitude. Fiat money is more valuable when compared to cryptocurrency we know that, therefore cryptocurrency does not have a center like fiat which has a centralized bank. so with very minimal support for cryptocurrency, cryptocurrency cannot be a currency that can be used for many things even though we know that transaction using bitcoin is good too. 
August 07, 2018, 01:36:42 AM
No government can permit bitcoin instead of fiat currency which is issue by banking systems. Fiat money is centralised currency and easily can control by government..but bitcoin is completely opposite.
August 06, 2018, 08:46:29 PM
I think the government will never favor bitcoin against fiat. Those politicians are smart and using crypto can easily link them to their anomalies and it will be the strongest evidence against them that they cannot alter. So they want fiat because if things got out of hand, the proofs are very easy to erase.
August 06, 2018, 08:02:32 PM
For me I think it will not gonna happens for the reason that the Bitcoin is decentralized currency. And if the government will support the bitcoin all the people using bitcoin will have a problem with the money and no one will earn big from it because if they support it they will levy us with tax and what we will earn will be deducted the fees and the tax that the government and the exchanges will get from us.
August 06, 2018, 07:19:46 PM
Working hand in hand with the government will be difficult and it might not happen.
August 04, 2018, 09:21:36 PM
While eliminating inflation is a big benefit, most countries won't support Bitcoin, because, as you said, they lose control of the economy!
The answer is disappointing (but accurate) is depending on the circumstances. Cashless society will be trend of the future so government and central bank have no choice but to prepare for trend. But a cashless future does not necessarily require government-recognized virtual money. Although Bitcoin and other virtual currency technologies will certainly pave the way for introduction of many useful applications, cash replacement can not be one of those applications. August 04, 2018, 04:38:21 AM
While eliminating inflation is a big benefit, most countries won't support Bitcoin, because, as you said, they lose control of the economy!
August 04, 2018, 12:19:30 AM
In my opinion, that is the contradiction in their management. This is very difficult to happen. Fiat is very important in the economy of any country. Fiat is a useful tool of the government to operate and maintain as well as develop the economy. Replacing Fiat with crypto or bitcoin is almost impossible. Instead, I expect more from the ETF.
August 03, 2018, 07:56:07 PM
If the government support the bitcoin, it will help sustain the strength of the coin, giving it more ground wide and across. The obvious facts is that the coin will no longer be decentralised, it will be limited and will soon enough fall back to national disadvantages countries have with currency, especially corruption. The best the government can do is to create a system that will manage the excesses of the crypto to it nation and seek how the crypto can better her nation.
August 03, 2018, 12:01:02 PM
I think Governments don't support bitcoin because bitcoin is decentralized currency and fiat existing paper currency is a centralised currency which is easily controlled by any bank systems.
August 03, 2018, 11:54:25 AM
Government can surely be a part and I think it will help the crypto currency more.
July 31, 2018, 07:35:54 PM
There will be two sides for this story. First, if the government are corrupts, well they can corrupt and even manipulate the bitcoin entering the country for their own purposes especially if the value of it regains again. The second one is that more investors are attracted for being modernize in terms of selling and buying goods with the use of bitcoin, plus, it's free for all. Which means that the developers are only capable of manipulating the importations of bitcoins, and the government can't do anything about it.
July 30, 2018, 01:13:43 PM
People today are technology literate right. But, we must consider those people who doesn't even know what is internet if the government try to or supports bitcoin or any cryptocurrency many people in each country can't follow the generation and they can have discrimination about it. It is still better that they support FIAT for now.
July 30, 2018, 12:47:12 PM
It will never happen. The government will accept the bitcoin when and only if the government finds a way to control the bitcoin in the future. that bitcoin is decentralized. the government can never control bitcoin. I am sure 100% of the government will never accept bitcoin
There is nothing which you cannot expect to happen and that there can be a time when you hear such news in which the government starts supporting these crypto currencies but even then, the government will not leave the paper currencies and that the people living in such countries will then be able to make use of either of the currency based on their own choice.I have to agree that no government will support bitcoin and leave paper money. It wont be good for any countries to have bitcoin as their main currency because of the fluctuates price. It is only possible for government to create their own digital currency using the technology of bitcoin or other crypto. Obviously the currency will have stable price like what we have in our own country.
July 30, 2018, 11:32:02 AM
there will be an improvement in the community especially in gaining speed of transactions.
there will be more options for the people in grabbing those future incomes.
but also! there will be another side of the story.
corruption will be cleaner and harder to solve.
tax evasion will be massive.
there will be more options for the people in grabbing those future incomes.
but also! there will be another side of the story.
corruption will be cleaner and harder to solve.
tax evasion will be massive.
July 30, 2018, 05:30:33 AM
If the government starts support it, it will clearly go against its own nature.
This is something which has much brighter chances and that this will surely happen in near future as the government of different countries are constantly thinking of making these crypto currencies as legal currencies and that this action will then result in promotion of the crypto currencies and that then people will switch towards these currencies and will leave the regular currencies behind. July 30, 2018, 05:17:21 AM
It will never happen. The government will accept the bitcoin when and only if the government finds a way to control the bitcoin in the future. that bitcoin is decentralized. the government can never control bitcoin. I am sure 100% of the government will never accept bitcoin
There is nothing which you cannot expect to happen and that there can be a time when you hear such news in which the government starts supporting these crypto currencies but even then, the government will not leave the paper currencies and that the people living in such countries will then be able to make use of either of the currency based on their own choice. July 28, 2018, 05:28:35 AM
I dont think that the government will support cryptocurrency over fiat. Every government have their own fiat and have some regulations when it comes to crypto use due to the risk that it can cause the public. Besides the central bank still dont recognize it as a currency.
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