Topic: The future of Bitcoin as payment means - page 4. (Read 1333 times)

It's technically not possible for a government to be able to have control over Bitcoin or its network and related stuff, all they can do is maybe put regulations on their people for using Bitcoin which is a completely different thing, and that, in no way, is going to stop Bitcoin or disrupt its operations.

The fact that governments can't control Bitcoin and the flow of its blockchain is the reason why most of them are against it. They will adapt and accept things that they can have 100% control on because they can't allow decentralization. If they allow decentralized systems to operate freely, people will be able to get out of their control over time, they will start storing their money in non-custodial wallets, they will make financial transactions without any third-party involvement, and governments can't let that happen.

Time will tell when we're talking about bitcoin talk, perhaps it's advisable to spread out strategy and having backup plan incase our ultimate plan A don't work out, the space comes with shocking information that will definitely leave one confused. We control bitcoin and push for elite positions in the market. It's not easy as we all see it because it comes with prominent outcome. The future of bitcoin lies in the hands of the government because they're actually the ones that places restrain orders to regulates the utilization of bitcoin. In most European countries, it's consider to be authorized while in some, it's been banned due to the high tension of fear of bitcoin ruling out the generally fiat currency. We know the system and necessities taken into consideration.

The answer is No, because bitcoin will be accepted generally or across the countries when each country embrace Bitcoin as a legal tender, because I know quite well that theirs some countries that accept Bitcoin as a legal tender and their's so many other countries that have not accepted bitcoin as a legal tender,  if El Salvador accept Bitcoin that doesn't mean that other countries will quickly accept Bitcoin as legal tender, from observation and other things I notice, bitcoin has stayed more than ten years, but yet no country has officially accepted bitcoin aa a legal tender, the thing is that, it's acceptance will be something that will be done gradually and the top five world power countries have to accept Bitcoin before other countries will queue up to accept Bitcoin as a legal tender.

Yes, I also agree with your assumption, that only a few countries whose governments really like bitcoin. El Salvador is perhaps the most successful example in adopting bitcoin, because after bitcoin was mass adopted by El Salvador, the economic situation in El Salvador could be said to have experienced quite significant improvements. However, in other countries, most governments do not like bitcoin. Because as we know, Bitcoin carries a philosophy of freedom for its users, and also has a transparent system that is difficult to use to commit fraudulent acts such as corruption. That's why many governments in many countries are very anti-bitcoin, perhaps this is because if bitcoin is adopted as happened in El Salvador, the people who work in those governments will find it difficult to do as they please in financial matters. Maybe this is the main factor that makes bitcoin reluctant to be accepted by many governments in various countries. But even so, Bitcoin will definitely continue to experience an increase in users. Because I am sure that everyone today wants freedom in managing their finances and Bitcoin could indeed be the right choice. So the government will not be able to do much regarding the progress of bitcoin, because in essence bitcoin is progressing by itself and with the advantages it has. For this reason, any world government will definitely not be able to stop Bitcoin from growing. Because basically things that really have enormous benefits will definitely continue to spread widely, without having to be promoted, and that's what Bitcoin is like now. Bitcoin will continue to spread by itself, until everyone in the world has bitcoin.

Governments are elected by citizens fortunately. So people have the power to change that if they want to, and they will be able to do it if they like to use cryptos or they think it's an important thing for the society or for some other people at least. But you shouldn't forget other enemies either, there is not the government only. Banks are also strongly fighting cryptocurrencies. And I don't think all governements are against cryptos to be honest. CBDC are kind of cryptos even if they are centralized actually. And many governments want to adopt CBDC to free money and people from the banks dependency because they sincerely think it's a welcome progress.

I think regulation is not even a bad thing but it was still like a help to fight the frauds happening in the BTC world. If it was about banning it, then I think that is a different story anymore and not something that we can say as regulation. If crypto in your country is not banned, then I think we still can say that the government there is crypto-friendly. About the banks, are all of them like that? If yes then they are the ones who are not crypto friendly. It's fine anyways and what do we expect? Banks are completely opposed to what the BTC/most crypto is pushing, however it is great that some banks still allows cryptos. BTC as a store of value is not a secret anymore, tho indeed that this is one of the reasons on why the adoption is still growing.

In the near future (from 2030), most countries in the world will introduce central bank digital currencies (CBDC).

These new digital currencies will provide governments with total control over citizens' funds. In these conditions, Bitcoin will most likely prove itself as an antagonist to central bank digital currencies.

Perhaps it will become an obstacle to turning our planet into a huge digital concentration camp. I will not be surprised if the financial elites declare war on Bitcoin. I will not be surprised if citizens are prohibited from owning Bitcoin (at least all fiat gateways will be closed).

Bitcoin will have difficult times in the future. It will be very difficult for the first cryptocurrency to become a global means of payment and a global reserve currency (the second option, in my opinion, is more realistic).

We already know that the majority of the governments will fight bitcoin with everything they have or at least they will try to make it submit to them, and we are seeing this with all the policies that are being implemented against centralized services like exchanges and casinos, but at the end they will fail as they cannot change the nature of bitcoin and because the economic system they have put in place only benefits them and the rich, leaving the middle class and the poor behind.

The original poster made some statements that are not true. He thinks Bitcoin can make most people in a country rich. He didn't grasp that Bitcoin is just a currency and an asset. But let me state that some governments are intentionally improvising the people by their actions and inactions. A country whose politicians are stealing the commonwealth of the country is making the people poor. Some politicians are intentionally using poverty as a weapon to control the people. When people don't have access to basic needs, they can be easily manipulated. 

I am wondering how Nayib Bukele wants to push for de-dollarization when El Salvador's official currency is the US dollar. I think Bukele's bid to make Bitcoin a legal tender didn't yield the targeted result, so the country is now focusing on using it as an investment. The IMF predicted that the country's economy will go through some problems if the Bitcoin policy is not shelved. I think their predictions have failed because the country has experienced some dramatic economic growth. But IMF is not giving up because recently Julie Kozack, the director of communications at the IMF advised the country to limit its exposure to Bitcoin.

Well, no body knows what the future holds for Bitcoin but I believe is that no matter how Bitcoin is being fights against, it's not going to be brought down unless the internet is being stopped too. El Salvador have approved of Bitcoin as a legal tender and you are not sure if any country might also take such bold steps because as we may know, some government of other. Counties have already started to acquire a large volume of Bitcoin.

Whether Bitcoin is approved as legal tender in other countries or not, it doesn't stop Bitcoin from growing.

It's more like his conspiracy than the reality.

Even though El Salvador was the first country to accept Bitcoin as legal tender and Nayib Bukele keep buying Bitcoin, he never sold his coins so far. But, if we take a look what Bukele did, he's actually use Bitcoin as a store of value instead of a currency.

If Bukele himself not use or encourage their citizen to use Bitcoin as a currency, I don't think the goal is to abandon USD.

Yes, no government wants its people to be poor because if the people are poor, the government cannot be any better. A government that wants to survive and be rich needs a lot of taxes from its people, but if the people are poor, where will they get the money to pay taxes to the government?

I think the reason many governments don't like bitcoin is simply because they can't control it, if they let people freely use it and evade taxes, it will be very difficult for them to control the people. This has nothing to do with bitcoin being an inflation hedge because it is not the only inflation hedge in the world.


Is this true? Because as far as I know, they still use USD as the official currency along with bitcoin in their country. Can they really escape the grip of the USD when world trade still uses USD and bitcoin has never been an option for other countries in the world? The value of bitcoin is even pegged to the USD, so I doubt any country would consider using bitcoin to escape the USD's grip. Bitcoin is not the solution to the idea of ​​dedollarization.

Anyone who claims to require rapid money will not have time to focus on bitcoin because their mind is preoccupied with fast money, which usually leads to failure. All governments that have not accepted bitcoin do not want their currency to lose value, and the main reason is that they cannot control it, so they will not approve it in their country, which I like because if the government has access to bitcoin and control over it, I do not believe bitcoin will be able to move as smoothly as before.

Now that no one has access to bitcoin, we are enjoying it and investing to ensure that we have enough funds when the price rises, so bitcoin is the best. Anything they say about the coin should continue, and we will continue to profit from it. He has changed many people's lives and made them wealthy, so we will continue to pursue our goals until we achieve our target. We should continue to invest in bitcoin since it is the best online investment that you will not be concerned about losing all of your assets because the price fluctuates it is simply a matter of time and patience.

It is not actually the government's intention to keep its people poor, because I am sure every country still wants its people to be free from poverty. Moreover, bitcoin cannot solve the problem of poverty in a country, even to invest in bitcoin you have to have money. It's just that why many countries want to oppose bitcoin because they cannot control bitcoin, bitcoin cannot be controlled and with bitcoin the banking financial system is increasingly distrusted by the public because more and more people are aware that bitcoin is a hedge against inflation.

I once saw a speech by Nayib Bukel, President of El Salvador. The point is that El Salvador wants to use bitcoin precisely because they no longer want to be enslaved by the dominance of the dollar or the popular term dedollarization. So it is very natural for America and the IMF to urge El Salvador to stop its actions. Indeed, the path taken by El Salvador is not smooth, but it must be tried. Because El Salvador also has the right to be free from the grip of the dollar so far. I believe that one day many countries will follow in El Salvador's footsteps by making bitcoin a means of payment and adopting bitcoin as a whole, we can wait and see when that will happen.

If only you can consider having the power of compounded value of your investment over time, long term investment plan is the best because it maximize the value of your investment over time. However, as for me I don't consider anyone holding Bitcoin for just several months or anywhere less than 4 years time line as an investor but rather to be called a trader, even though anyone can do whatever they like that fact remains that our plans should be within our tolerance level as regards to making an informed decisions, chasing short term profit has lots of disadvantages than advantages when compared to buying to hold for as long as necessary.

Each investor's approach to investing their money in bitcoin is different, but all of them basically have only one goal, that is to get a return. It's up to them how they have a strategy and stick to it, the investment time frame and the amount of money spent, the point is that they should not ignore the risks, both price volatility and security risks, when they store their bitcoin.

Many people always say long term is the best time to get returns from bitcoin, while some investors only need a several months or 1 to 2 years to make 2 to 3 times returns from their investment. This is sometimes about time and knowledge, but not limited to the respective strategic approach.

This is so true and not many people realize how true this statement is until too late. We are not in this for the quick money, and the ones who are in this to get rich quick will usually end up losing all their money as well, the ones who stay for long term and wait and hold are the people who make the real kind of money.

I personally believe the best thing you can do with what you have could be investing for the long term so you wouldn't lose any money on it. I believe this will not be simple because bitcoin is volatile and you are going to see many ups and downs, which makes it emotional and hard for many people to make some mistakes but I am sure we are going to end up with a result which profits if we can wait long term.

Only time will, though, yeah, BTC is not for groceries, I agree with that.
It's not suited and wasn't created for that, in fact.
What govs do is control BTC and everything related to it and the people that use it too, in fact.

No, they’re not fighting Bitcoin; if they were, it would've been banned already. What they’re doing is worse, they’re trying to control it by regulating everything that accepts Bitcoin, so they can track people through exchanges and other regulated platforms. As a currency, Bitcoin itself is fine; any government could accept it as a legal tender. But let’s ask ourselves: is Bitcoin practical for daily transactions, like buying groceries and essentials? Not really. Transaction fees would crush our budget. It could work with a third-party system like the Lightning Network, but that hasn’t seen widespread adoption yet, so for now, I’d say no.

People in government are not all against Bitcoin. Governments are against Bitcoin because the Bitcoin system will not benefit them if many people in each country use Bitcoin, except from the taxes imposed. But some countries like the UAE have already removed crypto taxes on crypto transactions.
If people in each country continue to use the government and private banking systems, then they can earn a lot of profit from the interest they lend to borrowers and from other sources that we do not know.


The essence of Bitcoin is the currency of freedom where the owner is the king who can regulate his own ownership.