If the government supports bitcoin instead of the existing currency. - page 20.

bennypagulayan

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Quote from: bitbunnny on July 23, 2018, 11:11:18 AM

Governments could support cryptocurrencies but not instead fiat currencies, this is not possible.
All governments and countries in the world are depending on fiat, every economy is based on fiat and cryptocurrencies can't change that. And besides because of crypto nature they are not convenient to build economy on their own.
But with regulations and adoption government can support cryptocurrencies in.a way or to be more precise on that way Bitcoin and other coins could be introduced in traditional economy system and help them to become more equal and accepted.

Right! I think so too.
It is not convenient to build your own economy.
Other currencies may be introduced in the traditional economic system and make them more equal and more acceptable.
Government can (support) electronic money but not replace current currency.

Marcel666

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Bitcoin is a decentralized platform, and is in contrast with the conventional financial sector. It doesn't have a central control system, just links in the blockchain.
The gov't can only adopt it, if they can control it.
Cryptocurrency would undergo regulations before it could ever be a global currency.

Intensity13.6

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Government can't control bitcoin because it was created as a decentralized digital currency. If ever government support bitcoin well it was food for the people using it and i think if it will happen government can regulate bitcoin and we are obliged to pay taxes in return.

Boppsross

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The Government does not support the nature of the Bitcoins and working together won’t happen.

matutana10

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Getting connected with the Government will surely affect a lot of things.

beej

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I think there's a great possibility that governments can support and work with cryptocurrencies,
it would be beneficial for both if things go well. But I surmise bitcoins will always be the second
or least priority when it comes to governments. I believe the existing monetary system and
currency is a more vital and crucial aspect to the government, economy and it's people.
There's still room for debate and speculation on the nature of such a possibility, if it's going
to happen it's gonna take more time and a lot of process to reach a proper agreement and
prosperous outcome.

TranTrongit

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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

volleyballslenderF

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It is kind of against the nature of the Bitcoins and working with the government seems tough.

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Governments could support cryptocurrencies but not instead fiat currencies, this is not possible.
All governments and countries in the world are depending on fiat, every economy is based on fiat and cryptocurrencies can't change that. And besides because of crypto nature they are not convenient to build economy on their own.
But with regulations and adoption government can support cryptocurrencies in.a way or to be more precise on that way Bitcoin and other coins could be introduced in traditional economy system and help them to become more equal and accepted.

Carlosfeer12

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If the government starts support it, it will clearly go against its own nature.

DOLONCHAPA

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No chance I think personally. Because it can not be a national main currency system . Bitcoin has no refund option . If there creates any mistake in payment system with BTC huge money gone lost. So one country never support crypto currency as their national currency.
Because it can destroy the governments revenue so they will keep their fiat money as their national currency forever.

DumbLefty

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I will be very happy if some government supports cryptocurrency. The main thing is to have as many precedents and good news.

Fedoracoins

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I'm sure one hundred percent that in the near future no government will support cryptocurrency. In my opinion, all governments want to control citizens and monitor them. Cryptocurrency gives you the opportunity to be anonymous and not pay taxes. Therefore, the government will not support the cryptocurrency. And I love and use cryptocurrency.

yndye

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Quote from: ?? on ??

if they do then it will do more benefits to the citizens not to the governments.But I think this is really hard to happen. Countries have more and more control and bitcoin policies to match the country. It will take a lot of time for bitcoin to become a legitimate currency.

Its not gonna happen sooner because it would be hard for the people that are behind the technology to adopt to the changes unless all people have access to the network. If ever government would do it then bitcoin would be very valuable that even if you only hold one bitcoin, you are already considered rich. I don't think that government would just allow bitcoin to be use by people though but the most likely possibility is to create their own cryptocurrency so that they can still have control of its movement and for easier monitoring.

Nhor1011

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Quote from: lantan81383628 on April 04, 2018, 02:29:28 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?

I think it is difficult to happen because bitcoin is decentralized that no single authority controlled it. It is not stable because it is volatile unlike the money that issued by the government that has stable value as currency and they has a full control on it.

@Mhaiang

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That will be a good news at least they are giving full support to cryptocurrencies. If that happen to all countries in the world, then for sure, bitcoin might increase its price with no less than a month or year.

Marcel666

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It is highly unlikely that would happen soon. Most gov'ts avoid the issue of cryptocurrency as it is largely unpredictable and undefined.

BagzMM

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Quote from: lantan81383628 on April 04, 2018, 02:29:28 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?

Well in that matter i think is so hard to come true. Government has it's own policy though some country adapt bitcoin and some are not. The fact is that the control is over the government.

dunghuu1992

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If the Government supports that will be a boom of Crypto. Go to moon!!!

airdropan

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hard to be real , the problem is about the value
bitcoin price is unstable and another reason is bitcoin and other cryptocurrency is decentralized that mean govermen have no power to control them

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