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 cannot be backed by national credit, since the credit of a nation is based on fiat, governments may try to keep some bitcoin in reserve but you cannot support bitcoin with bitcoin, so it does not seem like a good idea, what governments can do is to pass some friendly regulations and eventually commit to stop printing more fiat currency which is what causes all the inflation in the first place, but since they cannot run their economies without deficits they will never do that. 
Topic: If the government supports bitcoin instead of the existing currency. - page 21. (Read 25001 times)
June 15, 2018, 11:39:34 PM
June 15, 2018, 01:11:39 AM
This goes against the very nature of Bitcoin itself.
June 15, 2018, 01:10:17 AM
For the gov't to recognize bitcoin, it would undergo regulation and would just be another centralized currency as we have today. So what's the point?
Soon, there are likely chances of this thing to happen and that if this thing happens, then this will surely result in much positive improvement in the world’s economy and that this is the only thing which I think can solve the financial issues of this world in a way which can help the people in having more opportunities to earn money and then helping them to have a better living. June 14, 2018, 05:08:23 PM
No governments likes and support current currency which a banking system allows in that country. Governments can control bitcoin, online currency, then they prefer to use bitcoin.
I think you are wrong because there are a number of countries who are supporting bitcoin and are using crypto for their state affairs for example Japan and some other countries. The other countries will also come to adopt it but it will take some time. June 14, 2018, 05:06:36 PM
No governments likes and support current currency which a banking system allows in that country. Governments can control bitcoin, online currency, then they prefer to use bitcoin.
June 14, 2018, 02:18:35 PM
Scenario that governments stop supporting fiat currencies is not possible. All governments, all economies in every country in the world depends on fiat.
But that doesn't mean they will not accept bitcoin and other cryptocurrencies too. I don't think that governments have such negative attitude towards bitcoin as some are saying and I beleive that solution for coexistance of fiat and cryptocurrencies and their role in economy could be found.
But that doesn't mean they will not accept bitcoin and other cryptocurrencies too. I don't think that governments have such negative attitude towards bitcoin as some are saying and I beleive that solution for coexistance of fiat and cryptocurrencies and their role in economy could be found.
I think this will not happening any time why am saying this there won’t country currencies are there development equipment for the government if they support bit kind near country Academy will be radio city a lot if the government supports bitcoin and both their want country currency is some good changes will be happen.
June 14, 2018, 12:55:55 PM
Scenario that governments stop supporting fiat currencies is not possible. All governments, all economies in every country in the world depends on fiat.
But that doesn't mean they will not accept bitcoin and other cryptocurrencies too. I don't think that governments have such negative attitude towards bitcoin as some are saying and I beleive that solution for coexistance of fiat and cryptocurrencies and their role in economy could be found.
But that doesn't mean they will not accept bitcoin and other cryptocurrencies too. I don't think that governments have such negative attitude towards bitcoin as some are saying and I beleive that solution for coexistance of fiat and cryptocurrencies and their role in economy could be found.
June 14, 2018, 11:42:59 AM
I guess government will not support bitcoin the way they support the existing currency of their respective country. The reason is because bitcoin and other cryptocurrency is decentralize, which means the government has no control over it. If ever they do, lots of changes has to be made and that will become a problem in the government and maybe the economy will also be affected when that happens.
June 14, 2018, 10:24:28 AM
Well, we have already now witnessed Marshall Islands as the first to do away with fiat and adopt crypto although of course creating its own nationally backed crypto is really no different from fiat, except now it can more closely monitor and control its money flow. I suppose it will only be a matter of time before a small government somwhere starts supporting Bitcoin and throws away any fiat association. We never saw Bitcoin's rise coming, surely there are plenty of surprises left.
June 14, 2018, 10:02:06 AM
Yeah like you said who knows right there are so many variables and possibilities that can be happen if the government supports bitcoin and for sure the value of bitcoin right now will be unstoppable and for sure the other government in the world will support also bitcoin.
June 14, 2018, 05:22:41 AM
It is very diificult and can not be happened. Remember that,the creator of bitcoin is still anonymous,also it is decentralized. If the governments going to support bitcoin,what will happen to the existing currency? That's why,it will never be happened for sure.
Reason for that is government expects the control over the bitcoin is not been happened due to the decentralized medium only. They cannot able to accepting the peer to peer network which can operate independent as a focused.
Government like Japan really care about the people's concern and they have implemented bitcoin as legal but other world countries politicians looking about their own benefits no caring about citizens.
June 14, 2018, 04:23:05 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?
Supporting such thing as always isn't good as always. It would be bad if government support bitcoin and doesn't support the existing currency rather. It is bad because people grew up using the real life currency and it would end up only in confusion if they eliminate the existing currency because at the sametime not all the people have enough knowledge on this kind of stuffs, and in addition people aren't afford to buy technologies to support this thing. Also, bitcoin is not permanent in this world.
June 13, 2018, 05:47:25 PM
It is very diificult and can not be happened. Remember that,the creator of bitcoin is still anonymous,also it is decentralized. If the governments going to support bitcoin,what will happen to the existing currency? That's why,it will never be happened for sure.
June 13, 2018, 12:14:23 PM
For the gov't to recognize bitcoin, it would undergo regulation and would just be another centralized currency as we have today. So what's the point?
June 12, 2018, 09:46:16 PM
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?
Having China leading the paperless transaction, I'm sure that other governments will support towards bitcoin adaption. China has a big market and they are everywhere in the world and they will influence the world on accepting bitcoin.
June 12, 2018, 08:43:04 PM
The cryptocurrency is decentralized and non-centralized and difficult to support by the government. Also, since it is a currency accompanied by technology, I think that it is difficult to treat cryptocurrency instead of the existing currency as all governments understand.
June 12, 2018, 04:51:53 PM
Bitcoin and other cryptos are decentralized and users are entitled to regular Bath's daiky
June 10, 2018, 05:54:33 PM
This is never going to happen, government supporting Bitcoin means they are ending their source of income as if Bitcoin comes into play for every transaction that will be taking in the country then it will lead people to move form national currency to Bitcoin and such a move will be very dangerous for the economy of the country. Also, government can only allow to use Bitcoin but they will never support due to its negative points like money laundering, anonymity which can help in increasing crime drastically.
June 10, 2018, 05:26:20 PM
If the all of the government supports bitcoin, then its a good news, but they never choose it over their own currency. I think the volatility of the value of bitcoin is worst than the inflation and purchasing power of fiat. Another thing is that, it id still decentralized and the government cannot control what should be happening on it.
June 10, 2018, 03:33:20 PM
Still with the same problem, how the government blablabla. The government will still insist on dropping bitcoin, I've read an article that contains government recognition about bitcoin. They say, if we adopt bitcoin they will begin to be threatened with the economic collapse of their country due to fluctuations, its volatility in such a way. What struck me was the reason the government was afraid of not being able to do fiat monopoly, corruption and fooling the little people. Other countries should be able to imitate Japanese who currently they have adopted bitcoin as alternative payment after their own currency. So what happened to them? They are prosperous, their economy is so good .
Yes, it is true, the government will always disown bitcoin until they control it.But there's a grain of right ...Indeed, if there is anarchy then the Apocalypse can not be avoided.There must always be a shepherd at the herd,otherwise the herd will be eaten by wolves and the rest will starve.
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