If the government supports bitcoin instead of the existing currency.

[ClockworkTrader]

Bitcoin is unfit to replace fiat currency from the government`s point of view.
It lacks features that allow the government to control country`s economy, offering decentralization and anonymity itself. It is good for the user, but absolutely negative from the government`s point of view.

[biskitop]

what will happen is, crypto will be the official asset traded, but not the currency itself. I have read the news, in a speculation that if the crypto is inaugurated by the government becomes an official asset for investment, it will also make the market go up.

[Tervelatuk]

what will happen is, crypto will be the official asset traded, but not the currency itself. I have read the news, in a speculation that if the crypto is inaugurated by the government becomes an official asset for investment, it will also make the market go up.

cryptocurrency has possibility to be payment not as a currency.it will used globally when government already legalize it and accepted in any finance firm.

[Yusuf77]

someday crypto currencies will become the currency that is valid and used as an official currency and because crypto currencies were created to answer technological developments and times and economies

[eaLiTy]

If the Government supports bitcoins that does not mean that they don't value paper currency or the existing currency, as bitcoin has good potential to bring a financial breakthrough when there is a economic downturn by continuing the financial transactions with bitcoins because the value of fiat currency goes down when there is a financial crisis in such a situation only bitcoins can be of support to uplift the economy. Either way it is a viable option .

[BeGoods]

Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?

I think its hard for government in the world eliminate their own currency and replace it with bitcoin. Its because bitcoin is decentralized cryptocurrency and government can not control the supply like government did on fiat money.

And of course that will never be done by the government. the local currency is too important for them. and of course they will continue to maintain and manage any threats that come. and it is impossible for the government to choose foreign currencies such as crypto than their own local currency.

[bajingluncat]

if it is to be made into a currency, it is impossible for the government to support not because it is too afraid to lose control but more because it is obstructed by the law, and it is a complicated big problem, but if it is one of the types of investment, the government is now open and accepting even providing support in the legal field, at least giving a little sense of security to investors.
and for national credit it is closely related to debt and that is one of the causes of inflation, so maybe it will not give good results to bitcoin.

[Toy_evil]

You contradict yourself: Bitcoin is like a “decentralized” system, and government, etc. themselves centralized. Naturally, the conclusion suggests itself: this will not happen.

[Wellyan]

it might happen along with the times and technology and all countries have used bitcoin as an official currency that can be used as a valid currency

[Sarastiche]

I foresee a revolution in the currency world where there will be a synchronisation between paper money and digital currency, for this to take place the cryptocurrency must allow government to have a stake in decision making and policy formulation to determine how the industry will be regulated for development

[tinystone26]

I think they should support both if that's the right to the investors and I think we cannot guarantee the success of they only choose this option currency. Fiat still a helpful thing to other people because that only the thing that they know in the first place however I still choose Crypto because of it's own destiny of growing community in the future and the growing technology.

[Aris novianto]

if the government supports bitcoin it is very good, because the bitcoin digital currency is very good to develop, I am very happy if the bitcoin digital currency is developed

[sirohige]

if all governments can provide such support and can accept the use of bitcoin for their country and provide the legality of bitcoin then surely the price will be higher and will be more expensive because many will start using bitcoin as a payment solution.

[Seeker#9]

Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?

The government can only legalize the cryptocurrency but will not support as a main currency of the country because it is decentralized and can't be control by anyone. The present currency that used by the government and its people is a national currency which is one of the important symbols of a nation. The government can also make its own cryptocurrency which is centralized or convert its national currency into virtual currency.

[bustedsynx]

Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?

The government can only legalize the cryptocurrency but will not support as a main currency of the country because it is decentralized and can't be control by anyone. The present currency that used by the government and its people is a national currency which is one of the important symbols of a nation. The government can also make its own cryptocurrency which is centralized or convert its national currency into virtual currency.

You forget that governments use national currencies to control their economies - the more fiat is printed, the more fiat devaluates and  makes exports strong against competing countries.

[playboy654]

Neither bitcoin nor paper money has any real value, but notes have national credit support, and what if bitcoin also gets national credit? The government will lose its macro-control policy but it can also effectively eliminate inflation, two relative ratios. Is that a good result? Of course, I know that the government is very unlikely to support bitcoin, but who knows?

I think the government was not support the Bitcoin at anytime because if they are came to support the Bitcoin then the development of their own country currency will be reduced and the popularity in the country will also be ready to invest only in Crypto market not in the banks it makes a lots of economic changes and it will not been accepted by the country and also the government.

[DisWhale]

Eliminating Fiat for cryptocurrency by the government is not happening anytime soon even if that is bound to happen. The Fiat is the one of the means for the measure of power and economic status of a country. And due to its centralized nature, the governments own control over its production in terms of printing. Governments can only accept cryptocurrency as an innovative development which is intended to facilitate payment methods so that both fiat and cryptocurrrencies can coexist.

[Nnedaddy1]

Government giving full support to bitcoin currency means it's replacing fiat with bitcoin which is not even feasible in the real sense of it.
But if eventually it happens, it  will be a welcome development to the Cryptocurrency world, as that singular action of government could drive up the adoption rate of the blockchain technology .

[incomefromcoins]

only government Japan gave the same importance bitcoin and fiat currency and it is healthy growth for both the currencies hopefully most of the developing countries may follow

[baobao2000]

I don’t think government would use BTC for their currency. The reason is all government want some control their own currency, it is hard to control with BTC. BTC can be the future international currency, maybe between the governments, but for individual government, I think most governments would create their own cryptocurrency.