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.
Topic: If the government supports bitcoin instead of the existing currency. - page 27. (Read 24974 times)
April 05, 2018, 01:52:55 AM
April 05, 2018, 01:45:12 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
April 04, 2018, 03:29:28 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?
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