Topic: If the government supports bitcoin instead of the existing currency. - page 23. (Read 24974 times)
May 18, 2018, 11:21:21 AM
I am not convinced that the government will support the existence of bitcoin because one thing that causes the government not to support bitcoin is because as we know that bitcoin is a decentralized currency that does not require a central bank so it can not be controlled by the government. maybe bitcoin will get support from the government if the government can find a way to control the existence of bitcoin so that it will apply the tax system by the government.
May 17, 2018, 02:40:04 PM
The government of any state will never make a decision to destroy its own national money and replace it with a crypto currency. The task of any government is the strengthening of national money. From this, the economy of the country is strengthened and increases. Replacing the national currency with a crypto currency will cause the economy to decay and its complete unbalancing because of its high volatility. I think that unlike this forum, there are no children in the governments of the countries and they will never have such a stupid idea in their heads.
This is a misconception of everyone, bitcoin and cryptocurrency will never be able to replace paper money even if the state receives payment with the money cryptos. Before the existence of money cryptos, we know credit card where payment system using a digital system. But what happens now, is paper money can be replaced with digital money in the credit card? the answer is no. The use of payment systems is not all using the digital money, there will always be a payment system that uses paper money. This is a part of FUD that will give a negative opinion of the world of cryptos. 
May 17, 2018, 02:10:42 PM
The government of any state will never make a decision to destroy its own national money and replace it with a crypto currency. The task of any government is the strengthening of national money. From this, the economy of the country is strengthened and increases. Replacing the national currency with a crypto currency will cause the economy to decay and its complete unbalancing because of its high volatility. I think that unlike this forum, there are no children in the governments of the countries and they will never have such a stupid idea in their heads.
I do not think Governments are that much equiped to adopt crypto currency as their national currency now dude. They expect the stable money to support the country since the shit Rothschild rules this whole world money system people does not what is mean by money so far.
We need to understand why cash system has been came to the market as a usage.
Frank truth, crypto currency will replace the traditional currency for sure but for these shit world politics will not let that happen soon. Whatever they do, they cannot stop it mate.
May 17, 2018, 01:44:05 PM
The government of any state will never make a decision to destroy its own national money and replace it with a crypto currency. The task of any government is the strengthening of national money. From this, the economy of the country is strengthened and increases. Replacing the national currency with a crypto currency will cause the economy to decay and its complete unbalancing because of its high volatility. I think that unlike this forum, there are no children in the governments of the countries and they will never have such a stupid idea in their heads.
May 17, 2018, 12:40:27 PM
"instead". You mean they should support the other and abandon the other? It is possible but it will cause a massive confusion or even anarchy or even panic to people. How would people convert it to cryptos immediately? Imagine a massive slowdown to the network traffic because of all these conversion happening. Why not co-exist with the existing currency instead? Is that something of a problem? I know it will have some kind of conflict with the banks, but adjustments could also made with that.
If the support is possible as you are trying to say, then there won't be any conflict what so ever because the same government would organise it in a way that it won't be conflicted. This is what I'm reasoning.
May 17, 2018, 03:59:31 AM
No. Because the number of Bitcoin is limited and people get BTC from mining, something that the government cannot fully control.
And I have to remind you, Bitcoin is decentralized and no government would risk their finance power with Bitcoin.
In addition, it is possible to hack exchanges, which rarely happens with fiat token.
And I have to remind you, Bitcoin is decentralized and no government would risk their finance power with Bitcoin.
In addition, it is possible to hack exchanges, which rarely happens with fiat token.
May 05, 2018, 09:19:08 AM
I think it is not easy for the government to support bitcoin because there must be pros and cons and not many people can use it .. it takes a very long process if the government supports bitcoin but I think it is unlikely to happen .. even if the government supports bitcoin it is just individual and can not replace the existing currency ..
April 30, 2018, 07:14:36 PM
If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.
Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money. April 21, 2018, 03:00:06 PM
If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.
Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money. 
April 21, 2018, 09:56:30 AM
This paper money and crypto currency are not the same. So choosing one of it will bring big change in economy.
But because of some bad news rising about crypto, one of it is banning in some country, supporting crypto currency and replacing original money by crypto currency will not happen. Every decision can change anything so, we have to think it first before doing it.
But because of some bad news rising about crypto, one of it is banning in some country, supporting crypto currency and replacing original money by crypto currency will not happen. Every decision can change anything so, we have to think it first before doing it.
April 21, 2018, 09:31:08 AM
most likely wont happen simply because its decentralize. Government form in centralized manner itself. their own fundamental is centralized and its certainly would not sync well with crypto decentralized ideas
Very important information. If government support Bitcoin instead of existing dentralised currency then it would great changing in total economic systems. April 21, 2018, 09:25:36 AM
What I see, if governments supports bitcoin, bitcoin will totally replace gold as a country's asset, those who have more bitcoins will be considered the richest country, however if that happens, I do not see that people will be using bitcoin as a currency, rather it will be as a security for them, since there is a limited amount of bitcoin, the downside that I see is the market can easily be manipulated by whales, just like what we are seeing in the charts as of late, another thing is that, therr are few people who holds with them a huge amount of bitcoin and they might dictate what to do with bitcoin, just like what we are seeing fiat right now, those who have a huge amount in the stock market can dictate when they want the market to go down or not. The bright side that I see is, altcoins will also rise and people will be using them rather than bitcoin, still there is a down side to it, there will be no more upper,lower and middle class, what you just need is to have an altcoin that has a high value and grows in time, then you are set off for life, hopefully everything will turn out better than what we have right now, since fiat will be gone.
April 20, 2018, 01:09:44 PM
I'll do lay and see how the government will pledge their support for any cryptocurrency expect if its their own country cryptocurrency. With the recent banning of cryptocurrency going on in most major countries I doubt if any government will forsake their currency for an a decentralized currency this is because digital currency make the government to have less control of their citizen's currency . The government always wants to be in charge.
April 20, 2018, 10:57:52 AM
Need special regulation that handles bitcoin when it starts to discredit fiat currency.
Bitcoin itself doesn't need regulation and can't be regulated. To add; governments are 'discrediting' fiat themselves with their printing habits.Besides that, so that people do not feel confused with it, the government also need to launch the official exchange service so that society will start to trust crypto because the government has supported crypto by giving the exchange service so that society will not hesitate anymore to use crypto, especially bitcoin.
No. We don't need to have governments start exchanges so sheeples start 'trusting' crypto. If you don't have faith in the underlying technology of crypto, then you will never have faith in crypto, not even when the government starts getting involved. Also, we are entering a time where people are looking to distance themselves from a system not doing anything for them, but instead, only makes them become poorer as years go by. Governments will soon need US, not the other way around, and that change is something crypto will be forcing through slowly but surely. April 20, 2018, 10:48:41 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?
But they 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.But if they do then it will do more benefits to the citizens not to the governments. April 20, 2018, 02:23:11 AM
If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.
Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money. April 19, 2018, 02:58:21 PM
This goes against the very nature of Bitcoin itself. The whole purpose of the cryptocurrency is to be a decentralized currency that is not controlled by any governing agency. I think you are assuming that only positive things would come out of a government's regulatory use of cryptocurrency.
Entangling the success of a cryptocurrency with the success of a government imposes many risks. Cryptocurrency needs to stand alone on its own merits. Governments are prone to war, shifts in power, and corruption. Only because cryptocurrency is not backed by any government agency, it can outlive any governing body.
You're right about this. But I think in the crypto market, any adjustments or changes can happen. Nature and character may no longer be valid when enforcement and enforcement are issued by the government. Of course, I did not expect that. It will no longer see the volatility of the crypto market if the situation needs to change.Entangling the success of a cryptocurrency with the success of a government imposes many risks. Cryptocurrency needs to stand alone on its own merits. Governments are prone to war, shifts in power, and corruption. Only because cryptocurrency is not backed by any government agency, it can outlive any governing body.
April 19, 2018, 01:58:17 PM
A country's currency credit comes from the real economy, and bitcoin has too little to do with the real economy.
If a government will value and support more of bitcoin instead of their existing currency. Whales will fly to their country and can easily manipulate their economy. How ironic that we are telling that bitcoin is the future currency but with this type of situation we are likely to stop the innovation if there will be a country that will start getting serious with bitcoin. But I don't think that this will happen, a government won't allow this to happen. They can still support bitcoin/crypto but it won't come to this point. April 19, 2018, 01:28:58 PM
It depends on the type of government. If a country is a capital outflow, then it is difficult to support Bitcoin, a country is a capital inflow country, then it is likely to support Bitcoin. At this stage, Bitcoin is the most effective tool to bypass the government's capital blockade, so it is inevitable that some countries will support it, and some countries will oppose it.
If we generally talk about the governments of different countries, then most of the governments are not showing positive response and that for now, they are not going to treat crypto currencies just like the way they are treating other regular currencies. in case this thing ever happens, then this will surely help you out and that the demand of the crypto currencies will then be greatly increased.They know bitcoin can vanish the corruption and bank frauds and many thing will be regulated in a better way. But none of the goverment people and politicians looks that to happen in the live market.
We need to make the bitcoin legal in every country to stop the US and UK colenial rule from this world. After the world war ends also still we are seeing the market ruling with the corporates and banking attacks still on every countries. I believe bitcoin will make the everyone in the same standard.
April 19, 2018, 08:14:06 AM
Of the governments support cryotocurrency it will be more useful for the citizen but not that much useful for the government because it can reduce the revenue of the governments of they support bitcoins without regulations amd taxation system bit if they done with appropriate actions taken then both government and citizen will get benefit from cryotocurrency earnings.
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