Bitcoin Forum

Why are governments still in control of the money printing process? how has cryptocurrency failed to make a dent?
Are we as a community too scared to challenge the status quo?

Fiat money is still useful in some areas where there is no internet that is why. Government wants to centralized the money that is circulating in the country and it is also needed to determine fake money. If some country did not make crypto illegal in their country would have made the crypto used by many people.

What? We are about to break through. Don't you follow the price? Technically we are following the same path that the bicoin followed after the last two halvings. I think everything is normal. Things go slowly, but in historical time we are going very fast. Don't worry. And don't get too anxious.

Do you know what you’re talking about? First, the money printing process is already in the hands of the government, and just because bitcoin is digital doesn't mean eradicating the printed money. We would love for Bitcoin to be the most used currency, but i doubt either one will cease to exist. It’s for sure going to be living together, backing each other. The concept of CBDC’s are most likely the application. Don’t get me wrong. I support BTC 100%, but as we progress with the digital currency, most of the Banks want their own, and it’s just a result because of Bitcoin.

I’m not too sure about not making a dent because it has already in some of the financial institutions are already adopting some kind of technology that is relatively near to bitcoin.

By using the cryptocurrency itself, You are already challenging the status quo. So I don’t know what you’re talking about here, but the majority of the members here in the forum are already supporting it, including me.

Who should that be?? Crypto community? Day dreaming is good, it keeps your mind fresh!


Was cryptocurrency invented to make a dent on the traditional financial system? I don't think so! It was created to become an internet based p2p currency system and bitcoin has long achieved this status! We are not here for a rebellion! I personally am very happy on what cryptocurrency has achieved till date.

Doesn't need to dent anything.
An upgrade will be better.
Fiat will remain. If you look at provinces, they need it more daily with a lack of technology.
They can't just take it away.

Make Japan as a good example.
More in digital transactions than cash. But, the cash remains. Right?
Printing money cannot be handled by anyone or any group. Just the government, or else it will be mayhem.

Okay so what you are trying to suggest is that we people should storm towards our respective government offices and force them to declare cryptocurrencies as a global currency? Right? You think the economic system is a joke? or were you daydreaming while writing this post? Cryptocurrency is a technology that merely is 10 years old. Trust me it is yet to see the real-world problems. Merely less than 0.1% of the global transactions are carried in cryptocurrencies and you expect the government to stop minting money for it? We are not a community of government lobbying or anarchists. We are a community that spreads awareness regarding the use of bitcoin and meanwhile developing other ways to use bitcoin and cryptocurrencies to solve our daily problems. Moreover considering the size of the world we as a community are pretty small and would have almost negligible effects anywhere. Moreover, implementation is a process. There are millions of issues that need to be resolved before inculcating cryptos in the mainstream system. Stop imagining useless scenarios.

No other thing on this world would have the rights/power when it comes to money printing.I dont really get it too much when it comes on making out some dents or whatsoever.

For sure fiat or paper money would exist like forever.It might become digital but it would still exist as long government do exist then this thing would always been part.Also,

we crypto community isnt really trying to challenge or something but rather we are having an option for those people who does hate centralization and the rest
will really be just a dream on believing that replacing fiat anytime soon? Making out some arguments will be pointless and would be a long one.

We cannot force our government to adopt cryptocurrency and they still have the power to print any amount of fiat money. The good thing is, we as individual, we have the option now to use cryptocurrency and that’s freedom, we did not fail , we are still working out for the mass adoption that is about to begin, keep waiting and stay productive.

If not the government, then who? Can you imagine the most powerful entity in the entire country turning over the process of money printing to another? That is one huge blunder they would never ever commit. The power which resides in that process alone is immense they would never let it go.

But that is not just the issue. While the government's role in the creation of money has been constantly questioned and challenged; while it has failed over and over again the people and their trust in them in such role; the question as to who will take care of it if not them is larger than it seems. 

Bitcoin does not have business over it. Bitcoin is an alternative. It is enough dent that a lot of people are trusting and using the alternative more than the main currency. That in itself is a challenge to the status quo.

Simple, Because we live with rules and laws, Without it, There will be chaos around the world just like what happened during world war. The government is the reason why each country is control and being decentralized means there's no law that needs to be follow in order for these crypto to circulate that's why most people that abiding the law are still clinging on the use of the traditional cash rather than crypto because it has an assurance for its value because government regulating it unlike crypto that nobody/group of individuals are the one in control with your money. So guess what is more convenient?

What kind of question is this lols. You are asking why the government is still in control of the money printing?? Who do you think will have control of it? They are the most powerful people in every country so they can do anything they want to do.

The fact that cryptocurrency isn't regulated at all is one of the reason why it hasn't been used by many people right now. Fiat is still very useful right now and many people are still preferring to use it and it is the only money that they have right now that is acceptable by all of the merchants.

You're asking why a collective group with no leader and most are in it for the profits, failed to breakthrough another group that has a clear set of rules, a clear set of hierarchy, and is clearly accepted by the majority of the masses, mostly due to to the power they were asked to hold? The community isn't afraid, just that it's stupid to overthrow the current system we have when our system itself is still flawed and unsuitable for full adoption. Not to mention, how do you think would it impact society if the financial system was suddenly overthrown, not by a group with a central leader, but an overall group? You're basically asking to set us back to the old ages where strength is the rule.

That dependence towards the old and broken system is what makes the old and broken system still running. I have to commend the establishment of this knowing that the perpetuity is fueled by dependence of the masses to the system. OP seems to think that we are not making a dent but I think the gradual and slow adoption of cryptocurrency does its job pretty well, it will be too late to stop it when the time comes.

Because it's only been about a decade. ::)

Many have lost patience with Bitcoin's supposed failure to "make a dent" over the years......they sold under $10, under $100, under $1K, and so on. Markets are all about patient investors taking money away from impatient investors!


No. We're voting with our money. That's just about the most powerful statement we can make about the status quo.

Crypto cannot be broken crypto is not in control and no one can manage it is not possible to break it in the case of money printing the government will use fiat currency crypto is still illegal in many countries if crypto becomes legal all over the world the demand for it will more than double. The demand for crypto from fiat currency will increase and banks will replace it there is nothing to fear in crypto it will take a long time to finish.

This community has no power regarding actions which are in the hands of the governments. Printing money has nothing to do with the cryptos and this community as a whole. The emergence of cryptos are something to make a change but that won't be as easy as it may seem. There is a process before such thing to occur. And at the end of that process, no assurance still that this would be the "future". Keep in mind the concept of decentralization of cryptos. Knowing that fiat currencies are supported by each of the governments, how come cryptos will just wipe these "papers" in an instant? Digital currencies are now being used through various services, but it is a different case if it is crypto we would like to do so.

I don't understand your first question.I mean,do you want somebody else to control the money printing process?That is a recipe for disaster.I'm not a fan of money printing,but the governments should keep their control over the process of creating new money.
How do you want us to "challenge the status quo"?Do you have any plans about a rebellion,protest or a strike?The "crypto community" isn't that united and it definitely isn't that radical and fanatical. ;D

The circulation amount of fiat money is too huge and crypto total market cap is no where near the fist money.

There is no central body to promote the existence so people has to realize the importance of cryptos by themselves and adopting to the new technology,it may take time but the changes are happening for sure.

Japan has been using this for a long time and the digital money they use to make fast transactions easier, so it certainly won't damage any commodity, including traditional money.

Crypto will continue to take its current position and take charge of the fiat flow so the government can only control what has been the policy of printing money, I hope the crypto community doesn't break through fiat in a chaotic manner.

It has already made a dent. As said a few times, the genie is out of the bottle, the cat is out of the bag, the Pandora's Box has been opened.

There's nothing the government can do to stop/contain the idea of Bitcoin. That's a dent.

Are you telling that you need to rebel against the government and risk going to jail for a very long time  ::). The government controls the money and cryptocurrency is not going to make a dent all of a sudden but bitcoin is making inroads and established itself as a major force, even in this market we have major flaws including transaction delays and fees and in a forum we can debate and challenge about status quo but you have to think again, is it possible to change the entire financial structure all of a sudden?.

This is what all the economists have been saying for decades, that because all that power is just too much, there is no way they would ever let it go, so the only way is for some workaround (other than blood revolution) which is exactly what Bitcoin is supposed to be!

Because that is the way it has been for a very long time, people no longer remember why this was a bad idea and why the people at the time fought against this but the government imposed itself, you need to get this, most people do not have historic memory and despite clear examples all over history about fiat currencies always failing people do not really know this fact and they are happy with the status quo.

So until the day comes an economic crisis that topples down the world economy finally happens and people go through great suffering then most people will simply do not understand why bitcoin is such a great technology and why it will be critical if we are to move away from this flawed system.

Crypto is a hoax, calm down folks

Money printing has been the way governments have worked over the years to maintain a stable economy. They will continue to print money in the future. Cryptocurrency is in the process of asserting its favor and it is driving economic transformation. It is the people who will use the cryptocurrency and the government will have to fear this. Cryptocurrencies are very good at fighting inflation and reducing government oversight.

It took years for people to believe that earth revolved around sun and not the other way around.
It took decades for people to get used to the idea of science. Even though we are living in 2020 people still take time getting used to the idea, we have not yet Solved the problems of the real world.
Hunger
Poverty
Lack of electricity
Lack of education
Lack of employment etc...
If since 2009 ,this forum was built to an extent that it hangs every once in a while due to overcrowding. I believe we have somehow succeed to grab the attention. There are millions of users ! Literally, millions !
It hasn't been long but I do believe that it is working out great for the whole thing and in the future we will be able to get used to this more . Right now only the restrictions by the government is holding the cryptocurrencies back.

How exactly do you want it to happen, do you expect those who are in support of the cryptocurrency to go public against the government and start fighting them to stop printing money and stop making use of fiat? ??? Because, I am not getting it. This is meant to be a slow process and steady, and with time we will grow a higher level than we are now.

So no rush, you can’t force it. Just be making use of cryptocurrency and do the little you can to introduce others , your friends and your families to it, and if they see it as a right thing to do, they will start making use of it.

It hasn't failed to breakthrough its a new technology in its infancy.  Computers didn't fail to break through in the 60s, people were just learning about them and feeling put its capabilities.  New technological changes or shifts takes a long time to go mainstream.  Be patient

The reason is because money continues to become our means of payment,

It is not because the community is too scared to challenge the government, it is just the community don't even have to. Also, bitcoin is still on its early stage, a few more years, the dent that you are asking for will happen.

Because Bitcoin is just not feasible to be used in your daily transaction. I don't know about you but the majority of people wouldn't use Bitcoin to buy an apple because of the fees and internet connection is one of the problems of the world. Internet is not free, not everyone can afford fast internet connection and not everyone have access to Bitcoin. It's just not feasible for Bitcoin to be used. Not to mention Bitcoin is so volatile, some just aren't risk takers.

Failed to what?
Do you expect the crypto to really take over all the currency to be a single currency that would be used all over the world?
Aren't we too old to keep on dreaming that way I think we need to finally wake up and face reality that it is still too far from happening in this generation.

Every new innovation has to follow through some certain stages before it full stage. I think crypto at large are still in there early stage of adoption, also most people are still sceptical and careful about investing in crypto.

Of course you can't generalize something like that.
The use case of bitcoin specifically or any othe crypto in our real world has been quite complex issue for a couple years now .. well that's okay we are just entering the very first step of adoption , you cant jump up to expect bitcoin accepted everywhere in our traditional market, no you can't  do that in a single finger snap.

There's a huge blueprint and we are doing well so far , especially with paypal turn 180° supporting bitcoin after few years ago raging its user who transferred money into crypto related merchants,  banning them now they are close to joij the force. We are in the right direction. Early adopter will get the huge benefit because of this, so stay calm.

When I read this kind of assumption I always get annoyed for those kind of word given since IMO this will impossible to happen since crypto in the first place is not been supported and I'm sure the government is the number 1 enemy if we talk about replacement.  As you said we need to face the reality and don't expect to much about it, Bitcoin and cryptocurrency most likely will be treated as digital assets which is not as strong as physical money.

I think it is worth recognizing the fact that today national currencies are very much depreciated and due to the fact that they are always subject to inflation, there will never be stability in the economy due to fiat currencies. Nevertheless, cryptocurrencies in many countries are already recognized as valuable assets and they are gradually winning the market and the sympathy of society, not only among ordinary people, but also among large investors, and as a fact confirming this, this is a large-scale migration of constitutional capital to the cryptocurrency market. In addition, the leap forward in large-scale adoption of cryptocurrencies for everyday use that we all expected is compounded by the recent market crash in 2018. Today, many investors are wary of investing in cryptocurrencies, but this process has become much more active compared to last year 2019.

Because money printing is like a tool to control the economy of the country.

The government controls the FIAT printing process but they don't have such a thing to crypto. That makes a huge difference and I don't think we need to complain about it or otherwise, we want crypto to be controlled in corrupt hands. I don't think it was a failure in crypto ends, instead of being happy why we keep that feature. They keep printing FIAT because that is the need of the community, are we expecting that they will stop doing it? Not for sure...

Better not to compared FIAT and crypto, likely they are different from each other.

Yes. Crypto does not really aim fully to replace fiat because that's too far to be possible but having crypto as a good alternative currency is already good enough. We cannot demand for the government to stop printing fiat because it's their obligation to provide fiat for the country's needs. And for that, crypto is not really a failure because people are starting to trust it and for sure use it in the coming months and years.

That's right. Bitcoin, if you will, is a joint project that is only a decade old and has achieved a lot in this period. It's so easy to forget, but if you look at 2010 and 2020, Bitcoin and crypto have achieved a lot. Since it is a community root project, everything takes a little longer because it cannot be centrally controlled and commanded like a fiat currency. The seeds for Bitcoin and co have been sown and I am convinced that the harvest will come in this decade. Just be patient!

Everything in the solar system revolves including the sun and science changes with time as new studies comes in ;).

Education will sort hunger and poverty, employment you need the complete support of a government to open up new jobs.

Server issues can be a reason for hanging  ;) and i doubt this forum has hundred thousand users logging in simultaneously at a time ever. Most of these accounts are dormant and mostly created by bots and many of the people i know from the cryptocurrency space are not even in the forum and the once that registered are not active, so this is not a benchmark.
 
We have seen billions invested by financial fund houses inBTCitcoin and the government is not holding back anything. There are countries that banned the cryptocurrency space but anyone who wanted to invest have all the options available including decentralized P2P markets.

Don't you think it is still too early for crypto currencies to take over? I mean the crypto currencies we currently have are far from perfect. Not to mention, do you really think decentralized financial  system is going to bring us more good than harm? I get it people want freedom over their finances, but that is something which the government cannot give us. Not everyone will be using it for legal activities. Even if crypto currencies take over, those currencies are going to be the centralized ones.

Well governments across the world will not give up their control easily, with that part I agree! I agree that crypto is far from perfect too, but still it's much better than current fiat system! I believe that decentralized financial system will bring more good than harm!
It's too early for crypto to take over because many people are not aware of the crypto existence, and to not talk about how many people are not aware of what crypto can do! With time that will change, younger generations are taking over, and they are more open to technology! It's a fact, and changes are visible in some part of the world already.

If you're trying to say that crypto should defeat or replace fiat, I think that will be too hard to happen. Fiat will always be fiat and it will always be functional despite the existence of digital money. Crypto is actually breaking through and we only have to trust the process.

They are still in control because they did not printed enough. In some countries they did long ago and are not in control anymore. In those countries people simply started to use some currency from other country. Just the same way as when your county currency start getting high inflation people will move to Bitcoin. 

It is nearly impossible to happen given the fact alone that cryptocurrencies is powered by fiat money. Cryptocurrencies won't have any value if there are no injected fiat at the first place.  So rather than saying defeating or replacing fiat, I think it is better to call it a money transition to avoid mass confusion.

We just don't need to trust the process, we need to participate in the so called process, it won't work alone.

There are a lot of people explaining that it could replace fiat but that won't happen since it is not the goal of bitcoin to start with. It would go as an alternative but I don't think it would be the main. People are not scared, it is just that we are not supporting this crypto currency because we want to take down fiat.

We have to be able to think logically, there is no way we can force the government to adopt cryptocurrency. And it is natural that
the government still controls printing money until now, because this has been done for a long time. What is certain is that if crypto
has not been accepted by the government, it does not mean that the crypto community is afraid. However, changing the old financial
system requires a long process, we must be patient in following the process. If we are patient, we will definitely get good results.

Money has been basically unchanged for generations. You don't introduce a completely new form of it overnight. It took long enough for the internet and mobile phones to get going and they were basically all upside.

In some ways crypto has moved far further than I expected by now. Seeing the headlines we see these days would've seemed like flat out dreamland when I first got going. Even so it's going to be a long road and there are phases to come that we may not even have conceived of.

Why not, they are the government, who do you think would print money, some individual or a private group?

People trust them and they put them in that situation, and that's what we have a government to government people.

We always want crypto to be recognized but at the current state, the adoption is still low though increasing, all we can do now is just wait until the government will strengthen their regulation on crypto.

Most of us seek freedom, but if given that freedom, we are going to do worse than what the government has done now.
Imagine a world where people are having that kind of freedom in everything ??? ?? People will be committing crimes and doing it without fear of any laws that will stop or punish them for whatever wrong they have done.

Even with the government and the rules and regulations being set in place there are still those that are misbehaving and disobeying the rules. All we need is a better government, and to speak up for ourselves, because one thing for sure is that the government will not give us that kind of freedom that some of us seek.

And who should control the printing of money? A private company? Some separate and independent but still state institution? Or who?
I personally am not sure that you can trust anyone to issue money except for the state/Central Bank/other existing issuing institutions.
At the moment, Fiat money is too fragile and at the same time a very strong tool to give it to private hands.
Again, the transfer of the issue to private hands will entail the creation of additional regulatory authorities on the part of the state, which in the end will result in the same control of the issue by the state as if nothing had changed.
Then the question is-why?


Simply because cryptocurrencies themselves are not independent and not decentralized in the full sense of the word.
Almost any currency is centralized in some way. Or by devs, or by mining power, etc

And when you will understand that in fact you do not need this "reinvented wheel" because why would you buy an apple for a crypto currency if it is the same process as if you bought it for dollars. The only difference is in processing and no more. Am I not right?

I don't know who he is expecting to print the money other than  of course the government. If they will entrust this vital task to third party, there will be more chaos and doubts surrounding the institution.

Crypto is not yet mainstream because it is not easy to convert someone to fully trust crypto. And also, even us, crypto users are still mainly using fiat in our everyday expenses. The merchants are still small in number which are accepting crypto. But it is only a matter of time before they add crypto in their payment system.

Afraid? Scared? I don't think so.

The government really are the ones that would control that process, it is not ours nor the people that hate them doing that. Cryptocurrency making a dent? To what? That is not the main reason why Bitcoin and other cryptocurrencies are made. We are on the road for that reason for a long time now and I think we can't ask for more than that and as time progresses something great is happening.

Ever since, we all do know that the government is the one who manages and facilitates money printing so how come question such obvious matter when at the first place, it is not really that new information to know about because the government has the power to do such thing. With regards to the crypto breakthrough, maybe you are expecting too much that you do not even see it that we are successfully moving forward and toward adaption on which it can be reflected how the demands on crypto rises bringing the price up which is an efficient proof that we are breaking through and we are already improving slowly but surely towards a progressive path. Also, it is not because we are afraid on the government, it is just that we are leaving them the responsibility of handling the money printing processes for they have already been doing it for too long and they are really the ones who handles it so why bother for the citizens to claim their job.

Actually, we are already doing good in terms of adoption considering that crypto is about a decade old only. Fiat money has been here decades. And there's no question about the government printing money, because that has been established a long time ago. Unless, he is expecting that some private companies will do that for the government? I don't think that's very smart thinking. Also, the government doesn't understand much about crypto yet, so they are very careful in laying out laws and regulations towards crypto.

I don't think crypto failed on adoption towards the future payment system wherein it achieved great accomplishments many of things like what paypal did recently by embracing bitcoin as part of their payment system.  In terms of banks, they also show some support towards crypto currencies and many news were published regarding that. We adopters are not scared of innovation and we believe that just small push towards it we can obtain global adoption.

The reason is that, it is part of the government's job or simply they have the power to control the money printing process. Not ours and not even the cryptocurrency. It is not part of the scope of crypto because it is already outside of its capability. I don't know exactly what you are talking about making a dent but if you are looking for the progress of crypto, you should know it if you truly know what is crypto.

There are many reasons why crypto is still not fully adopted. But the main reason is absolutely the government. We have spent many years to build a fully centralized system which not just benefit themselves but also the society. Hate it or like it, you can not deny how well the system function currently.

Bitcoin and other cryptos still needs time to be completely recognized. In my opinion, we have already made a tremendous move toward the monetary. Most of the people on the world have heard about bitcoin at least one time. It is certain that in the future, this technology will be used oftenly in our daily life.

I believe some posters don't understand the "WHY" of Bitcoin's continued existence. It's finding inefficiencies to make them efficient.

The centralized cryptocurrencies can be censored by the government, and would have to follow the rules. It would be stupid to use that to find an inefficiency in the dark markets to make it efficient. Bitcoin works simply because it can't be censored.

I agree that it's almost impossible for a government to censor the use of crypto currencies. They could make the use of cryptos illegal but to enforce such laws is very difficult. In the long run each country needs to find a way to accept and somehow regulate crypto currencies. I think almost everybody has heard of Bitcoin's by now. There is no way around it anymore. And am open government can actually profit from cryptos if they tax them.

Cryptocurrencies are breaking out and on the right track. Let's look at Bitcoin and institutional adoption of it. Bitcoin is accepted as a legal means of payment in many countries around the world; many hedge funds are increasing their ownership of Bitcoin; Paypal adds Bitcoin to their payment system; Stable currencies are constantly being trained by the institutions; US banks already support Bitcoin and other cryptocurrencies.
Then we can see the cryptocurrency being adopted and purposefully entering the economy.

It is really interesting to see people who are willing to bet that bitcoin, something that is "people's money" would be getting involved with finances via government. It is not going to happen like that, it is going to happen from bottom up and that requires everyone to start accepting bitcoin, the more people start accepting bitcoin the more there will be pressure on governments to make laws about it and if you do not stop every time price drops or if you do not stop calling or mailing places to start accepting, it won't happen.

So, what we have to do is get together as a whole and try to get every single person we know to start accepting bitcoin, if that happens that means we can take the control of our own finances, but for that we have to make sacrifices both in work and effort but also in economy as well.

I think there is a few countries who still ban all the form of crypto currency, I mean for the citizen who use crypto be it as trading place, investing or payment system they will be jailed. Most of the country now has legalized bitcoin, as an example in my country, the government just include crypto currency to commodity, it means my govenment see bitcoin like an asset. Also, government still have a chance to to track the crypto user if there is the citizen who use crypto like bitcoin. It is simple, now almost crypto exchange are required our personal identity before we trade/withdraw our fund. Through this way, they can ask to the exchange to track our fund also all other secret things.

I have always thought that those that believe this market is going to completely replace the fiat system or any system in place by the governments are too optimistic about the capabilities of cryptocurrencies, fortunately for us cryptocurrencies do not really need to do this, as long as they exist and they are decentralized and a significant number of people are willing to use it then that is enough.

Governments right now are treating us as if we are all criminals just by virtue of using cryptocurrencies, but once they finally realize there is nothing they can do against them I believe they will just conform themselves with not allowing important criminal activity in them and to me that is a fair compromise.

I don't get it. So, Bitcoin crypto failed because the government is still printing money? That's not true. Crypto has even succeeded more than most people expected, most thought that it was going to stop trading by now, but it's still trading and people are making use of it in transaction, lots of companies are using it now to store their assets, and we are going to keep seeing the number increasing.

If there shouldn't be printing of money as you have said, then there wouldn't be any government. The government is always in control of finance, which is the one thing that underlies the economy as we know it. So they will keep printing money, Bitcoin is not replacing them.

was it government ? i think banks are printing the money or they are still in control by the government if how much are they gonna print . what can crypto do to the printing of money , its not thier possesion anymore  . crypto is for the digital world only , nothing more nothing less . i think you mistaken if what are crypto built for . what you think is not true , crypto isnt summoned to take control of all the currency in the world . crypto is a succesor and not a failure,  thanks to the people or to the community because they are not scared to put thier support on crypto

Only the government is capable of issuing money and will never be the citizens. Crypto don’t need to challenge the fiat system, both could exist without a problem. Bitcoin will never be a world currency because no government will allow it because they don’t like what they can’t control.

How do we challenge the status quo, do we do that by fight a struggle with the government to make laws that will favour the use of cryptocurrency or we are going to stop the using of cash?
The two options above won't be possible to my idea. Then what can be done is by helping the continue existence of the two because they are both important today

I don't think OP meant a price break-through.  I think he's asking why bitcoin hasn't been more widely adopted as a currency than it currently is.

I think if all those banks failed in 2008, bitcoin might have a different and more prominent standing in the world, but the global economic system didn't collapse, ATMs didn't stop spitting out $20 bills, and the corrupt bankers and mortgage brokers got bailed out instead. 

This is as good as it's going to get for now--and personally I'm fine with that.  I've always considered bitcoin to be an investment rather than a currency, though it certainly can function as one.  The huge thing standing in bitcoin's way to mainstream adoption is the fact that it's still much easier to use credit/debit cards, smartphones, or plain ol' cash to pay for things.  Why would anyone go out of their way to spend their fiat on bitcoin in order to just spend the bitcoin....when you could probably have used fiat in the first place. 

My take on it:  Don't fret, OP.  Bitcoin is doing just fine.

I do not think a time will come when bitcoin will completely eradicate fiat currencies. If that doesn't happen, then the government will always be in control of the money printing process.
I agree with the fact that, at this rate of adoption, bitcoin will be the most used currency in the world but it will not completely erase fists. This is because bitcoin is digital. One should note that there are several parts of the world that do not have access to the internet especially in developing and under developed countries. Many do not even have basic amenities such as electricity and portable water. How then would they survive without fiat currencies?
You should note, however, that bitcoin has been breaking through over the years. Just a look at the charts. The number of bitcoin users has increased tremendously over the last decade. Several companies have now adopted bitcoin as a means of payment for the services they render. A lot of other companies have bought bitcoin as a store of value. Trust me, bitcoin is breaking through, you're not just seeing it.

The problem is like you said they can "tax" bitcoin but the truth is because the cryptocurrencies are decentralized and anonymous by nature it is nearly impossible to force taxation because I mean people who are innocent will only pay tax and one who wants to save tax can easily do so. Another problem with legalizing bitcoins is that a lot of fraud transactions are then increased because already so many hackers ask for bitcoins and once they are legalized it will be even easier for them to demand it.

I think Bitcoins don't really need to be controlled by the government and I believe the basic aim of making bitcoins was to eliminate the control and laws government impose on us. Let a decentralized system be as it and no need to put everything into the hands of the government.

Coz why not? I don't see anything erong about it. Besides, they are the one who rules and definitely the most qualified to deal with money printing and other stuff regarding the betterment of a country. You can't hand it over to a private sector.
To simply answer your question, it is because of low demand due to small adoption. If you we were able to convince everyone to engage with btc then for sure the price will spike. Well, it's easy to say but hard to do tho.
Hmm, I don't think so. It just so happened that we are already used to it :D.

Cryptocurrency adoption is actually growing quite fast. Now on many forums I use it's accepted as a main form of payment and there is more volume than ever on exchanges and betting websites. I see more and more of my friends constantly being involved and I expect this trend to only to keep continuing. With Paypal and more larger institutions beginning to offer cryptocurrency, I think that adoption will only continue to increase for the forseeable future.

Remember the best thing we can do to drive adoption is to use BTC whenever possible for our purchases and to teach others of its benefits.

Yes, it takes time for countries to allow bitcoins to be legal because it requires a deep understanding to understand how bitcoins work in first place and then they have to see what are the possible benefits and the negative effects if they allow it to be legalized. In India for example they banned bitcoins earlier but then they lifted the ban because they took more and understood that not as much harm is there as they might have anticipated.

And seriously Bitcoins doesn't need to replace fiat it only needs to find some space in the fiat dominated world such that more merchants accept crypto payments and since we are now shifting more towards digitalization we might finally see some high level adoption in the market towards Bitcoins as a payment option.

Bitcoin doesn't necessarily need to eradicate fiat currencies, just need to last long enough until the fiat system collapse.
However, it seems won't likely happen due to the governments maintain the value of their fiat currency, unless the government fails to do its duty then the economy starts to fall apart and so does the fiat currency. Take a look at Zimbabwe or Venezuela, cryptocurrency really help citizens there as valuable currency more than fiat.

Yeah more and more recognition is certainly being spread and the Paypal move is indeed a historic one because when Paypal allows bitcoins to be purchased on their platform it simply means others will follow the same suit behind them.

You can always use decentralized exchange or commonly called as DEX to avoid this problem and there are various P2P platforms to sell and buy bitcoins too which can be used to avoid this problem. But that said one should not trade if their country have bitcoins as banned because in long term you will eventually get caught and might have to face tough questions and a lot of money laundering is also unfortunately associated with BTC and authorities will make lots of baseless accusations against you and it is hard to prove them wrong at times when you don't have proofs.

Don't be so sure of that last part.

In 2010 nobody thought that Bitcoin could be regulated and accepted as legal tender in a country and a few countries have done it. Some poor countries with weak and hyperinflatinf fiat currencies will one day decide that it's better to use a valuable decentralized currency than a worthless centralized fiat that people don't use and prefer to trade using loaded sim cards.

No, I do not think so. Any government that introduces something like Bitcoin deprives itself of any control over the money. Control over money means power. It has to come from the people themselves.

As long as the government is still heavily involved in matters concerning finance, the full adoption of cryptocurrency will still be an issue. Cryptocurrency is not centralised and this is the real reason why the government is still considering adopting it up till this extent cause it's adoption means the government will no longer be in charge of money and we all know what their stance on that is.

We can't rush things out because fiat is still the major currency that we need but it doesn't mean that crypto failed to breakthrough because there are already lots of developments and adoptions occurrence. We have to trust the process because even huge platforms and networks these days are already recognizing cryptocurrency.

What money does they really have control of if people are using m-pesa payments instead of their local currencies because they're worth more?

At some point you have to realize that making another trillion dollar bill sin't going to put you in power because people are already using your bills to light their cigarettes and wipe their asses.

adopting crypto wont lead for the govts to stop regulating other currency but they can still regulate it but except maybe to crypto . what they believe was only a myth if that is the reason why crypto are not totally adopted worldwide .

dont hope too much because i think nothing will change soon. i feel that fiat will always be the primary currency but this dont mean crypto have failed because they can still work together and you said crypto have alot of achievements ? that a proof of its success .

Many people will still be wondering how bitcoin family break through this season that reduce many cryptocurrencies but fail to reduce bitcoin than see BTC keep pumping in the market.
Most of the fiat money lose value during the pandemic that collapse some many industrial in the world. Many countries printed more money but their citizens are still founding it difficult for them to invest very well. Bitcoin show many investors that this pumping is just a small pump compared to what will happen in few months. Bitcoin will still remain the king of all cryptocurrencies.

It's about the continuous development and not just comparing it with fiat, as it's said fiat still being recognized in majority
places so for sure crypto still far from succeeding in terms of overtaking it.

But you are right in your wordings that there are already many businesses who also acknowledge this system
bringing more interest to non crypto people to start moving inside.

Your expectations are slightly too high, deliver the goods before you make the demands for progress.    BTC still has a way to go in being more accessible and the most key factor to advancing in an economy is efficiency.   Lately the transaction fees I see seem to say we arent ready, its not outside factors so much as this network has to do better in its capabilities.
    Obviously crypto is unique in comparison to FIAT which can easily move vast amounts in a centralised way, there is a higher burden to this system but still I think improvements can be made and it will correlate to this break through anticipated.   The world definitely wants alternatives to endless political interference.

Of course the government controls the money printing process, indeed who else can do this other than the government. You can't say
crypto failed to break through, because crypto is only about 10 years old and fiat has been used for thousands of years. It took a long
time for the whole world to accept crypto, there was no need to rush for mass crypto adoption. But with many well-known platforms like
Paypal accepting cryptocurrency this is a good process, We, as a minority cryptocurrency community in the world, must be patient to see
cryptocurrency adopted by all countries in the world.

I agree that is a ridiculous way to measure the success of bitcoin, the success of bitcoin should be measured on how many people are interested in the technology and how many are willing to take a risk with it and by using those standards bitcoin has been one of the most successful technologies ever.

Now it is true that we would all like for bitcoin to be more adopted around the world but that is going to take time, we must remember that unlike almost any other technological advancement which immediately gets the support from all the world bitcoin has the disapproval of almost all governments so this is slowing down its adoption, so if anything we should be surprised we have come this far so quickly.

The concept of decentralisation is the main reason why crypto is yet to fully breakthrough. The decentralised nature of cryptocurrency will not work in the favour of our government and as such, the government will always try to counter any concept that has zero values to add to their doings

Government will always have power over centralized currency.
Covid-19 collapsed so my economy of the world that make some government to print more money to raise their economy back to life. Many people are still feeling the pain of what the virus has caused in their businesse.
Since BTC price start rising after the pandemic and other cryptocurrencies are reducing which is making some investors wondering how powerful bitcoin is among all the crypto currency . I think crypto will soon take it position soon because we are about to enter it season. But the way bitcoin is pumping right no,it will hard crypto to take over the market now, because many investors are still joining bitcoin to invest their coins.

Cryptocurrencies could be used in my country without government restrictions. The problem we have is a deficient infrastructure for this purpose that needs to be improved. The population also needs an education. Although progress is being made to introduce payment methods in cryptocurrencies in various network of shops such as supermarkets, pharmacies, hotels, among others. It is a good start but everything takes time, we also have to add that we are still living in the middle of the pandemic.

While I appreciate government caring for their citizens to keep the fiat a legal tender as many people don't have access to basic phones let alone education to be able to use blockchain and bitcoin and such technologies, it's highly not appreciateble if they declare crypto as illegal as crypto is actually better than fiat in every terms!

Currencies like bitcoin simply don't have the capacity to handle all the transactions of the world and nobody should ever think that it will replace even one of them. You should consider bitcoin as a store of value more equivalent to gold bullion in digital form. Governments (or "independent" central banks" generally need to be able to control their own currency in order to manage the economy and try to handle things like inflation. You also have to consider that physical currency is still vitally important for large chunks of society who will not adapt to a crypto currency like bitcoin (e.g. older generations or homeless with no internet access)

The reason crypto still fails to break is because crypto is under someone's control and no one has the power to break it unless the government of a country controls it inflation can bring down a country's economy but in the case of crypto it will not have any effect. Everyone who is crypto decentralized can manage it as they wish prices increase by increasing the demand of the market the use of crypto is slowly increasing and making payments easier.

Cryptocurrency ain't easy to learn, plus they are not tangible unlike the fiat money. People tend to lean towards what they can touch, see, smell cause it has the sense of Reality into it. Having something like cryptocurrency for them is like "what for?". In addition, crypto is not even part of the curriculum for students in their economics subjects, what for the people way back who already graduated?, for this to break through, we need a full scale learning materials that will be simple, and easy to understand for peoples in different status to have the ability to digest and use this for their own goods.

Also the term break through is deceptive because bitcoins already is being used worldwide and even legal in some countries so the only thing that now remains is the adoption at shops and merchants which will take time because rushed adoption will also cause more scams because there are lots of ways a experienced crypto user can trick merchants like double spend and zero fees transactions.

The introduction of paypal accepting bitcoins might actually solve this problem because paypal is the biggest payment processor right now and if somehow bitcoin transactions are made through it, that would be plain awesome.

Exactly. A lot of people think it's just going to be easy to replace fiat because bitcoins are more valuable than a dollar now not thinking that we're still using the dollar as a standard of how valuable it is which is literally a fiat currency. It's gonna take a really long time for people to adopt bitciin or any cryptocurrency for that matter ebcause they are mainly meant for investing. And those stablecoins which have good hopes of being adopted are really low in value to even go on par with fiat.

What type of breakthrough people are expecting from bitcoin? Why does it have to breakthrough as well?
Don't you think being over 13k for bitcoin is already enough? Why must we be over $20k? Why reach $100k? What does it change in bitcoin that makes it more and more loved or accepted or whatever just because its higher in price?

I would rather see bitcoin accepted all around the world and make it a legal tender to spend it anywhere you go, that is the aim I have with bitcoin and I agree that if that happens it would make it more expensive and price would go up, but even if it happens and price doesn't go up, that would be fine for me honestly, I wouldn't need anything else. Which is why I think we should focus on not just the price but also the adoption rate bitcoin has over course of years which increases significantly and be happy about it.

It has been and will always be so.  The government will always control the monetary system in its territory.  Cryptocurrency cannot radically change anything in this regard.  It creates an alternative for the current payment system, but it will exist in parallel with traditional currencies, but not replace them.  As long as states exist, they will control the financial system, since it is in fact an important part of the political system of the state.  Any attempt to deprive states of financial control will be severely suppressed by the state's repressive system.

Not because we are scared but because we can do literally nothing. I mean what would you expect from us meanwhile the main reason for most of us are here making profit instead of making it as our primary currency for daily activities.
Even like that most of us here have nothing more than thousand dollar even less so there's just nothing we can do here.
True, we could offer all the good things for all I know but once government make a new law limiting crypto then our effort just gone.

I don't really like the idea of government poking their nose in cryptocurrency but don't you think their existence is also good in other to cub and eradicate users from using it for bad things such as dark web. We have seen many attempts of Hackers and kidnappers hidden behind monero to get ransom, scammers disguising as influencers and official handles. It's not bad when they are involved though I prefer when we have regulations that are favorable for everyone.
Talking about adoption, we have seen similar adoption in many countries such as

• Facilitating Currency Exchange
• Going Cashless
• Easier Online Transactions
• Appreciation as a Debt Solution

Shopping in stores will certainly be very closely watched, how later the price will drop dramatically or with fraud against it, it is still difficult to adopt because the government has not monitored it so online stores do not want to lose sight of this kind of risk, especially since the existence of bitcoin is still not fully legalized. therefore this adoption will continue over time, acceptance will make a breakthrough where all shopping stores will use the payment method with bitcoin.

Paypal accepts only 10% of cryptocurrency so this could be said on an experimental basis but it was seen in the CEO's tweet that this is doable and is in a more mature stage.

Do you think it's easy to leave fiat money in all countries, it seems difficult if that happens people will use gold, indeed until now bitcoin is not legal in all countries but everything will take place faster because it seems that cryptocurrency is slowly starting to be accepted by countries willing or no, this technological development will be the answer for everyone to realize that everything will be made easy through blockchain.