Topic: Who plays bigger role in crypto adoption: General public or government ? - page 2. (Read 436 times)

Both government and people are playing a role in crypto adoption. Common people are accepting crypto currency and even if everything is managed if the government of a country does not legalize crypto currency and there are strict restrictions people will never be able to accept crypto currency. The public plays an important role in crypto and the government drives its policies.

each of them play Thier unique and fundamental role in encouraging Bitcoin adoption.

The government have the right to disallow the use of Bitcoin in a certain country and so regardless of the push by a private body or individuals to ensuring that Bitcoin is accepted in a region, if the government doesn't give Thier support it's going to be a one sided adoption. If the government alone takes it adoption seriously without involving the citizens in the whole process, people will assume that Thier is an eaden agenda that the government had in mind and that's Thier reason for pushing for it adoption and so it's clear that advocating for Bitcoin adoption is only going to be a reality when both the government and tg governed cooperates together.

I think the answer is door number three: technical factors.

Bitcoin transactions can cost 30 dollars and take 30 minutes. That technical limitation will do far more than any government could ever do to prevent Bitcoin from being widely adopted as a means of everyday transactions.

As for adoption as an investment... what more do you want? With the ETF, every single investor in the US can buy into a Bitcoin instrument using their existing brokerage account. This is as mainstream as it gets.

The other factor, of course, will be the price of Bitcoin: if more people buy it, then the price will go up, and then... more people will buy it. And that too will be a far bigger factor than any sort of regulations. And by the same token, if the price crashes, then people will hate Bitcoin, and this won't be the fault of anything the government did.

Common people, if you want to call Larry Fink a common person.

Bitcoin is jumping right now because Blackrock is coming closer to setting up a new financial system that would include Bitcoin in various ways. Does this encourage people to buy BTC? Or the opposite? The price increase, that is.

BTC made it to the $65,000 range twice before. Many people lost their shirts... or life savings... when it dumped back down. Do people these days understand how what Fink is doing with Blackrock is different than the past?

Government people are not entirely stupid. They see what Fink is doing. It probably makes them want to invest more than the average commoner does.

Government has the authority to make it happen but it happens only when people are pushing them to do so who is important then I would say both. First should be the users who need to understand why it is important to have monetary system that is decentralised and sooner or later government will have no choice other than accepting their defeat and then the new beginnings happens.

It has to do with the majority of the people, because it is the people that elect those in government, so if majority of the people have agreed to adopt cryptocurrency, I think there is little the government can do to stop it, cryptocurrency buttresses that fact by even being a decentralized currency. The awareness cryptocurrency has gotten across the globe has a lot to do with the common people, because they've been the one's passing this information largely within themselves, and since they constitute a large population, it has helped propagate the good news about cryptocurrency.

I think the need for government to be in any social strata is for them to formulate policies and programs that will better the lots of the people, so if majority of the people are agreed to adopt or invest in cryptocurrency, there is a little or nothing the government can do to stop because it's the people's choice.

Crypto adoption is really driven by the interest of the people, because when the public shows interest interest crypto adoption will  increase rapidly I think it is all about the public zealousness. But the fact that the government also play a vital role in crypto adoption cannot be disputed, the Government regulations can affect crypto adoption by influencing policies that impact on how people use it.

Actually the people play a bigger role in the awareness and followership to bitcoin but ultimately it is the government that will eventually cause the real adoption because of the laws that they will enact that will allow for bitcoin use as legal tender. For example if the government creates the law that all their parastatals and agencies to use bitcoin then the real adoption will start but for now it is still left with the people and that is why it is still in the level that it is now.

So for now the public has higher percentage of awareness creation than the government but the people need the government to have full inalienable control of bitcoin across where it will be regarded as legal tender.

I estimate that the public influences 65% and the government 35%. The reason is: Adoption starts grassroots. Bitcoin's utility and value were first adopted by curious, enterprising people like us. Our interest, demand, and advocacy change market dynamics, increasing acceptance. I recognize the government's important but limited role. Policy and legislation can boost or slow adoption, altering infrastructure and legal acceptance. Remember, who impacts government decisions? The electorate is the majority. Our votes and public discourse shape such policies.

The people plays the game while the government frames the playground. Our passion, investment, and use of Bitcoin and other cryptocurrencies demonstrate our influence. The fact that public acceptance is surpassing government frameworks supports this speculation.

The public plays a much bigger role than the government. Bitcoin had already survived a couple of years and grew in market cap and adoption massively before any government for involved in it, and this was through the efforts of those who, bought and mined it at that time.

If the government turns a blind eye towards crypto and does nothing for or against it, Bitcoin would keep growing. But if the people lost faith or interest in it, there would be no activity on the network.

The government can try to restrict the access of the people to Bitcoin it will restrict its growth, but this does not make them a bigger factor in its growth.

It’s both. Since crypto adoption will never be a thing if government ban the use of it. There’s countries that ban crypto use and this is a clear example of what will happened if government doesn’t play an important role for crypto adoption.

There’s no way only people can push mass adoption without the help of the government since it’s still money and needed to be regulated by the government whether we like it or not. So our only choice to move forward without interruption is if the government will cooperate. Having a complete decentralized in crypto is not really impossible as long as we still need fiat to spend our crypto on buying goods and purchasing other services.

Both. People drive it by using and getting into cryptocurrencies, making it cool. Social media and community vibes as well while the government sets the rules and vibes with regulations. If they're chill, it helps but if not, it can put a damper on things. It's a back-and-forth where what people do affects government move  and vice versa. So whether crypto becomes the next big thing or not depends on this groovy connection between individuals and the government

In my opinion it is the public that plays an important role in adoption the government only regulates it. There is only one case so far where a countries government implement Bitcoin as a legal tender. That ditmean that the public of that country was ready to adopt Bitcoin. It took sometime as the public was not ready as to how to use Bitcoin for thier own benefits. In the same manner thereare countries where the public first started using Bitcoin and slowly a large population started adopting it. Later on the government of those countries started implementing regulations to control and create an atmosphere of trust so that everyone can utilize Bitcoin and other cryptocurrencies for thier own benefits.

Both. The public, or at least a part of it would probably try it out if the government publicly acknowledged it legally since to the average joe, they probably have no reason to use it if it was only going to get banned. And if the public generates more interest in it, the government would naturally try to accommodate and regulate it according to their laws as much as possible.

Well at some point the government being able to influence its adoption would stop, so I guess it'd probably skew more to the public instead? Especially if you consider how in a sense, people can use crypto with or without the government. The government is just there to make more people use it or have an interest in it due to their legal power.

People play big role in bitcoin and other cryptocurrencies adoption. The people that I am talking about are the retail and institutional investors. What role does the government play than to look for ways to generate money from crypto taxes? What I can say is that the government has no role to play in crypto adoption than to use regulations to hinder it.

The roles are complementary. The general public cannot move the price in the same way that institutional investors or governments can do. Investment funds cannot invest in Bitcoin, and not everyone can use it. Bitcoin will turn into something closer to stocks.

Just as the economy needs capital and investment funds, but without the middle class, the world will collapse and all services will stop.

The general public, as you say, is ready and willing to use cryptocurrency. However, regulatory authorities constantly throw a spanner in the works, prohibiting the widespread use of cryptocurrencies in one way or another. Can we talk about the will of the people if, in different countries, regulators either impose a complete ban on the use of crypto or Bitcoin is often in a gray area? And people use one trick or another to use and have Bitcoin, despite the government's other opinion. I don’t see freedom in this, unfortunately.

But still most of the people are behind the money that it will make throughout.

Government make a lot of movments in this regard but still people are at higher stakes.

Some governments are in support for bitcoin adoption and also have encourage for the use of bitcoin by their citizens, such a good example is in El-Salvador, where bitcoin is made a legal tender, Central African Republic and other countries that does not adopt bitcoin as legal tender but permits the use of bitcoin as a legal digital cryptocurrency for making payments.

The other aspect is the people themselves, we cannot say that everyone has completely key into the adoption of bitcoin, we have those that are in support and those that are against, but the majority have the support use of bitcoin because they needed a change in their financial economy, these same people are the ones that have help in the widespread of bitcoin to the other people around them that we continue to have an increasing massive adoption from time to time.


We needed the role of the people and the governments, if the people shows interest in bitcoin as an alternative digital currency, then the government should be ready and able to listen to their demands and grant access, if they don't, we cant because of that go against their law if they kicked against bitcoin completely.

I will say that both the government and the people play a big role in cryptocurrency adoption. The reason why I said this is that the government can choose to ban crypto, to slow the adoption of crypto in that country because majority of the citizens will be scared to buy and use crypto, only few will have the gut to use bitcoin because it is decentralized and only uses p2p payment method. Even at that, they need to stay away from centralized exchange and platforms.

However, if the government is happy with cryptocurrency and knows the benefit that it will bring to the country and the citizen, cryptocurrency will be legal in the country, and government will give chance to institutions that wants to trade in cryptocurrency, which will make more people who are not well enlighten on cryptocurrency have the opportunity to learn, and have the knowledge, so this will make more people adopt crypto.

On the one hand, it is the people's choice to choose the currency that they want to use, because cryptocurrency is an alternative payment method just like bitcoin, so if they decide not to adopt bitcoin, due to lack of knowledge or ignorance, there is nothing that the government can do. This is because it is the citizens money, and nobody has the right to tell you what to do with your money. So the general public plays a big role because if half of the people in the world has bitcoin, you know what that is. Bitcoin will be more valuable than now compare to the number of people that own it.