Topic: Who plays bigger role in crypto adoption: General public or government ? (Read 436 times)

Between the government and the general public, I believe the government plays a bigger role in crypto adoption.
If the governments of the world were receptive to Bitcoin, I believe its adoption would have grown exponentially compared to what it is today.
In many countries today, we see governments making laws that are not so friendly to crypto users. This alone can discourage a lot of people from using crypto. People do not want to use a technology that would make the government see them as criminals.

If government organizations accepted crypto, even though they don't make it legal tender, but allow people to use it freely and accept it as a medium of payment if they wanted to, more people would use it, but in many countries, people don't disclose it openly that they use crypto because they'll look like criminals to the government.

From my experience, the government usually messes things up. I'm a strong supporter of market freedom, and I oppose government intervention, so in other words I support laissez-faire.

I can give you a number of examples of how governments messed up crypto adoption. It used to be allowed in India, with no regulations present. Then corrupt politicians started taking bribes, so the government blamed... cryptocurrencies and banned them. They wanted to sweep the problem under the rug by claiming that it's not the fault of corrupt politicians, but crypto itself that they could cheat like that and the politicians will magically stop being corrupt once taking bribes in crypto becomes harder.

Crypto adoption is been cheered both the government and the public entirely because each of this sets that you mentioned has a very huge impact or role to pay as far as crypto adoption is concerned, the government has the policy to make crypto a legal tender in their country, but one thing is for that they might not allow institutional adoption for a reason, do you know that any money thats been put in the bank by any institution or individuals is been taxed in one way or the other by the government, the crypto industry can not controlled by the government in totality.

The public which is the audience has a major role to play in the adoption of this digital asset, the individual adoption has been on for many years now and thats has been the fuel behind crypto existence globally, so without the people crypto would have been into extinction despite how the government has been trying to frustrate the market, the people has remain firm to spread the news all over the place.

IMO, everyone is equal and each has a special stake in contributing to crypto development. But also in another aspect, crypto really gives people a way to trust and develop it.

I understand the story of how some viewpoints try to impose or differentiate influences on life, but understand that everything that exists is not owned by either side. Every role has an important contribution to make, and if one is missing, the balance we need is lost. With more and more people accepting crypto, we should express a positive attitude towards it as well as share useful things that can help, besides supporting the government's decision is also very important in development, although not everyone supports it, but let time prove to them the value of crypto.

Both parties have a major role in promoting crypto but I think think case of adoption its the individual that does the most, crypto so far has spread through word of mouth and testimonials of people all over the investment, the government  has played their role by either accepting it or not causing individual to either be involved or not, bit has done no means of spreading news about crypto unless in the case of el salvador that now has platform that teach their citizens about bitcoin that's the only exception I know of government involvement and then the ETF approval that is also a case of government playing a role in mass adoption.

Both the government and individuals have roles to play in the adoption of Bitcoin in a country, and the roles have to complement each other to have a smooth adoption, individuals are the grassroots of Bitcoin hodling, so even if the government puts in place a crypto friendly regulations and the people don't subscribe to it, then it won't be effective. It's mainly individuals and the private sectors that drives the usage of Bitcoin, for p2p transactions, investment and trading purposes. But if a country adopts Bitcoin as a legal tender, it'll massively increase the adoption in that country, because it'll be accepted in every government's public enterprises.

for me its the government for sure as normal people we won’t be able to do anything if our government decides that cryptocurrency shall not be used within the borders of your country especially with countries like north korea or china wherein their laws are strictly upheld i think if they weren’t good with cryptocurrency their citizens would not be able to do anything about it

We as small fish on this community and market, we add some contribution but the impact that we provide isn't that much. What adding to the impact a lot and more are the big institutions and the government. Whenever there are news that comes out, it's always been them that provides the impact. Whilst us, we just go with the flow whatever they do and whatever they say. Providing all the news and laws that they make, we're all just obeying what they tell us because that's how it goes on these type of governments and as well as for this market that seem to be free before but not anymore today because the most influential ones are also here now.

It is true that people are important in all aspects but we're talking about the role here and the impact. We are just receivers and adopters of the impact while the actual movers of it are the government and financial institutions. Because big money are coming in from them but to be honest, we're also the one causing it when we deposit money in the banks, we pay the taxes and everything. The big role is within us but we rarely feel that because the media is all over them and that's making them look like as if they're the most important characters of this chain.

From my point of view, the biggest role in the adoption of cryptocurrency is the general public like us. I think the government plays a supportive role in the adoption of cryptocurrencies. Because every country's financial policy formulation, policy implementation, and policy management are done by the government of the country based on the needs and profitability of the people. Suppose the government in a country accepts cryptocurrency but the general population of that country is not interested in adopting it then the use of cryptocurrency there will not be successful. Countries that use cryptocurrency now do not accept cryptocurrency for a certain time but later allow it to be used after analyzing the needs and benefits of the people. So I think the people play the biggest role in the adoption of cryptocurrency and the government participates as a facilitator and then the government plays an important role in its direction and policy making.

There are some concerns with the use of crypto like it being abused by bad people. But it can also be controlled. Most of the exchanges are moving to the route of KYC. It can be made stronger to eliminate frauds to lesser extent.

There are some countries which played it big on crypto and they were rewarded by it in different ways. It is an example and motivation for other countries as well.

I think the general public have play good role than the government,  if their is a way the government can shut bitcoin down they would have done that even before now. The general public have no bad intentions against cryptocurrency because it is a big advantage to them. It is just of recent that the government is trying to brace cryptocurrency to see if it can be of benefit to the economy.  The general public has played a bigger role since the existence of cryptocurrency.

Both governments and the general public play an important role in crypto adoption.However, its acceptance is high among the general public.Some countries have governments that have banned the use of cryptocurrencies, while others have governments that view cryptocurrencies very favorably and encourage the general public to use cryptocurrencies.Crypto is accepted even in countries where crypto currencies are banned.And this acceptance is observed among the general public.All those who have understood the good side of crypto currency are now involved in it.The general public is involved in both Bitcoin and Altcoins.

We need to understand that the government doesn't even liked the introduction of crypto currencies in the first place because they know it would replace fiat which has been the recognized currency before cryptocurrencies were invented and the government always want something that would be in their control and under their regulations of which cryptocurrency are decentralized as you don't need the interference of government before you can perform crypto transactions so with my explanation you can see that the public requires crypto adoption more than the government

Government have a role to play in bitcoin adoption, aside from the taxes and other regulations that their put out, the only problem with governmentsnof many countries is that, their have a misplaced priority when it comes to their interactions with bitcoin and other cryptocurrencies in such a way that their have failed to identify their major primary role as government to act as vehicle to safeguard the interest of all and also help to fight crimes that could possibly come from bitcoin usage within the country.

We can't do without regulations as long as bitcoin co-exist with other financial and economic tools in the same market environments, at least cryptocurrency services providers such as vendors and exchanges (centralised) need regulations to build a better secured ecosystem for all players in the industry.

Both the general public and government contributes towards the crypto adoption but in their own ways. The public if they find crypto as something which is good for their future in terms of investment it would invest and thus the adoption will increase but if government puts strict restriction on crypto then it would be difficult for the public to adopt to crypto as we have seen Indians were one of the largest trading population until recently when the government launch some cruel tax policies they stopped using Indian exchanges and shifted to foreign exchanges but now Indian government has banned major foreign exchanges making it difficult for users thus the adoption will be decreased.

Hence I think government does play a vital role for crypto adoption.

I think the general public holds the most control over the crypto market. If the general public sees potential and invest in crypto, the government will follow and monitor this interest very carefully. If reversed, even if the government forcefully implements crypto the general public still has the choice to not follow it and even protest against it.

This is, of course, considering that the country is ran through democratic principles. The government has the final say but the adoption of crypto is on the hands of its users aka the people.

The common people is the driving factor and which is pushing forward to the adoption of decentralized currencies, specially Bitcoin. Keep in mind the governments around the globe are pretty much comfortable with the FIAT system they have been able to manage for centuries now, so they do not have any reason to bet for the adoption of Bitcoin in their jurisdictions.
The only reason why governments are taking Bitcoin and cryptocurrencies in general in a more serious way lately, it is because they have been forced to by their populations accepting them.
Because of the decentralized nature of those coins, the public administrations cannot do anything to easily stop their circulation, so they feel in the need to have mechanisms like taxation and KYC policies set in place, so they can try to assimilate Bitcoin into the traditional system. The Government of the United States did not wanted to adopt Bitcoin as a taxable asset, they were forced to by the circumstances of the success of Bitcoin.

In the case of El Salvador and other small Republics which are willing to give Bitcoin a chance, for now it is because the leaders of those countries have some ideological alignment with the ideas of Bitcoin or believe their implementation could help with inflation or the economical hardships, those developed countries with little hardships won't consider to embrace Bitcoin, but rather oppose it: the United States & the European Union. At least, that is my personal prescription of the situation.

It's actually the general public because the general public hold the most.

But there are many stupid people use government's news as the decision to buy and sell their cryptocurrency, this make government has a bigger role. When government issued a bad news, they will sell, when the government issued a good news, they will buy.

Both the government and individuals play big roles in cryptocurrency or Bitcoin particularly, we can not say one plays more than the other because of the cases we have seen concerning Bitcoin adoption. I could say the government and the individuals play their roles Viz vice.

As said above by some senior colleagues citizens could decide to adopt bitcoin or use cryptocurrencies as payment method but the government could jeopardize that decision with regulations, although there are cases where the people still find a way to hold cryptocurrencies and use them but initial it could be prohibited. so too government could decide to make Bitcoin legal tender but it has to be the choice of the masses whether to adopt or not.

I concur to this, reality remain that regulatory agencies which stand to be the government has higher power for adoption, the public can adopt but need them to approve because their approval gives more edge to authenticate the usages with fear of anything. You can some of their policy restrictions and ban how it affects the public even when the public is fully ready to adopt Bitcoin and crypto currency. But  I still believe in a government where majority carry the vote interest if the people can persuade the government for adoption that is when 85% pupolation has adopted it government we be left with no option than consider the voice of the people and this can only happens in nation that consider the voice of citizens not like my Nation where the voice of citizens is not hard no matter how they cry loud.