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Secondly, @OP, even if what you said is possible, those who lack knowledge of Bitcoin, blockchain technology, and other cryptocurrency will definitely learn about the technology and its user case. The use of bitcoin or cryptocurrency is not very sophisticated. Even bank workers studied at the university for some years and archived their degrees; that's also how people will learn about whatever they need to know about blockchain technology. If necessary.
Fuck crypto, I think Bitcoin is what is being referred to here and although we can't deny the fact that there is a possibility of Bitcoin becoming globally accepted of which is just a small percent of you ask me but I believe we can't write out anything in the world of possiblity as I believe no one would have taught that Bitcoin would get this massive adoption and attention prior to the first time it was created.
I believe as Bitcoin continues to grow more person or government would have no option than to join the queue on the diversification of its use as the way El Salvador have done although it's still in testing phase but I believe this sends a statement that Bitcoin use and government is actually possible even if they don't accept to the phase of making it a legal tender, learning about it more to properly know the areas which they can benefit won't be a bad idea and this has also started with my nation that first posed a restriction on the use of Bitcoin, now that decision has been reviewed back and plans to start learning more on Blockchain technology has put in place by the government so as they can know the area of which they can all benefit mutually from Bitcoin tech. That's certainly a growing and big step up in terms of Bitcoin and it's relation also with government if you ask me .
@Mr. Suevie, Don't get me quite off. I always used to say to myself that despite the fact that the governments of most countries are against Bitcoin and don't want it to be widely adopted by the citizens, that doesn't actually mean that some of those government officials are not investing in Bitcoin secretly. Of course, some of the government appointees, in one way or another, might be into Bitcoin secretly, but they don't want to make any effort to make Bitcoin a legal tender.
Bitcoin is a decentralized asset, and it was never created to become centralized. Currently, we know how many centralized exchanges out there and can't be compared to the decentralized exchange, and many new investors in Bitcoin are becoming more familiar with and feeling very secure with most of these centralized exchanges. Normally, you know that all those exchanges were given licenses of operation by the same government. So, don't you think that if the government decides to begin ceasing people's Bitcoin assets, they can possibly force those centralized exchanges to give them KYC details of customers and the amount of Bitcoin they have purchased?
If such a situation begins to take place, and the government can begin to watch and monitor every user's Bitcoin wallet and the amount of transaction that is going on in it, then Bitcoin transactions will not really be that secure in the sense that if you make a withdrawal of any amount, the government will quickly know that you (Mr. Suevie) have withdrawn a certain amount from your wallet.
If things happen in such a manner, how can you not say that Bitcoin is now becoming like the traditional bank where the bank workers are aware of every bit of transaction you carry out on your account and whom you have sent that money to?
Quickly, let's still remind ourselves that Satoshi Nakamoto said he created Bitcoin for the purpose of removing financial control from the hands of financial elites, like banks or any traditional financial system, and placing financial control in the hands of common men and women so that they can carry out their transactions without the involvement of any third party or even without having to reveal their identity to anyone.
So, if the government decides and tries to make Bitcoin centralized by creating some Bitcoin system and they (the government) become aware of your wallet, how much Bitcoin you hold, and that of all Bitcoiners, it is not going to really make much sense to me, bro.
Well, like you said, I should not speak of something as never going to be impossible, yea, but making Bitcoin a legal tender world wide, then I am thinking that that's what will even make the government properly look at how they can control the space, since they can't access Bitcoin to make it centralized, then they will force the users to obey the rules that they are going to lay out, and it might be a very uncomfortable law that will not allow us to freely enjoy the use of Bitcoin and our investment.
If you ask me this question over and over again, my answer would be that, whether the government makes Bitcoin a legal tender or whether it is globally accepted or not, Bitcoin will keep growing and waxing wide, with different user cases. Bitcoin doesn't need to first be approved by the government or accepted worldwide before its adoption will keep increasing.
Since its creation, Bitcoin has lived for more than 10 years, yet its adoption keeps growing. Meanwhile, it's not even globally approved by all the governments, so do you think that the government needs to approve it before the adoption will continue?
Lastly, in my first comment, I was not talking about any other cryptocurrency, if not Bitcoin.
I settle down to read every line of your comments and I do say that you are apparently right, however, I have in mind even before now that most government are investing in Bitcoin quietly and don't want others to know. (I can see you are a Nigerian, so let's talk about our government) more especially our Nigerian government, I have come in conclusion that the main reason why they didn't totally ban Bitcoin in our country is because they are also investing in it secretly, if they do ban Bitcoin totally they might find it difficult to invest, despite with the P2P transactions they will find it difficult to invest in Bitcoin, (I don't know how it will be difficult for them, but my instincts tell me so), they are scared to make Bitcoin so dem popular because they thought that Bitcoin will overcome the fiat currency and much people will not save their funds in the fiat banks anymore, just imagine if Bitcoin was legal in Nigeria during the
, people wouldn't have suffered because of cash anymore rather they will just make sure that they convert there fiat currency into Bitcoin by clicking the buy button, and start making use of it, although most of the citizens wouldn't have the mind to risk their money, but a lot will do so because at that time, so many people will have no other options than to use Bitcoin.
As the world government can't control Bitcoin, it will be hard for the whole world to accept Bitcoin, but I have to say that Bitcoin doesn't need the whole world to accept it before it reaches where it will (hope you get my point?).
