If the government supports bitcoin instead of the existing currency.

[Xising]

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?

If governments would do that, then that would really give cryptocurrencies a big push to be known and be embraced not only locally but globally. As governments, they are big entities that many people trust and listen to when it comes to suggesting how people should look at and appreciate a business scheme or, at least, use them as guide on how they see one asset. Remember, in the previous years, many central banks, basically the business and commerce arm of every government unit, have mixed views on how people go on with their cryptocurrency investments. Those recommendations have truly been a mover on how people have trusted and accepted cryptocurrencies. These days, as more and more countries are accepting it, it's beginning to give cryptocurrencies a positive image that people tend to accept even more so now, than before.

[1713482993]

1713482993

[1713482993]

1713482993

[1713482993]

1713482993

[1713482993]

1713482993

[Leyss]

This will never happen, do not even hope. No state can ever switch to the use of cryptocurrencies. It will be disastrous for its economy. It will always maintain its own centralized national currency. Therefore, nothing substantial will happen in this matter. The national currency of the states will exist as long as there are various states on our planet with their own individual interests.

[breathlessz]

What so you think guys, they'll just stand up and give yes to all of your wishes? Maybe they'll say yes but it won't happen in action. Overally, they won't let you to mine coin like they won't let you to print money and if we consider mining mechanism, they need something that will be exclusively available for specific cpu or something similar for governments and will be resistance to any other thing or no, there will be limited supply and that will be all (maybe some change in supply sometimes because fed loves doing such things in charge of us).
To sum up and say truth, it won't happen unless they can't control who you are and where your money goes.

Yes Government will not support something that they cannot control, Its like giving back their power to the people that why politicians are against in the nature of cryptocurrency.

All the government can do is to regulate the use of cryptocurrency and release a guidelines to fight money laundering. But it will never come to the point that a government will dump its own currency and start using bitcoin.

I think it is hard for the government to dispose of its own currency. I think the best bitcoin achievement is as a payment facility besides fiat currency. on the other hand many governments only allow bitcoin as an investment asset that is included in the trading market

[pinoycash]

I think it is hard for the government to dispose of its own currency. I think the best bitcoin achievement is as a payment facility besides fiat currency. on the other hand many governments only allow bitcoin as an investment asset that is included in the trading market

Bitcoin will probably will just be a store value just like what gold is. Without lightning network bitcoin will not be the best payment facility for online purchases. even on physical store,

Bitcoin is already declared as an assets in most countries that's why its already being taxed in some countries. But majority are still treating bitcoin as an illegal currency.

[otong]

This is the value of Bitcoin but not as stable as the original banknotes, with the current trend getting bigger above all else, it's possible the government supports bitcoin arguments where many souls are aided by bitcoin. do not put aside all things for the common good will happen.

all possibilities can happen but I also agree with you that the government will not hold the crypto currency completely, which I believe the government will adopt an economic system that is used by crypto currencies

[Sama517]

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?

It is going to be very difficult for government to support bitcoin. The government may be wary of Bitcoin or the blockchain because they have no control of it.

[fauzan Ichsan]

This is the value of Bitcoin but not as stable as the original banknotes, with the current trend getting bigger above all else, it's possible the government supports bitcoin arguments where many souls are aided by bitcoin. do not put aside all things for the common good will happen.

all possibilities can happen but I also agree with you that the government will not hold the crypto currency completely, which I believe the government will adopt an economic system that is used by crypto currencies

I think the decentralized system in bitcoin is a problem for the government. we know that the system cannot be controlled by the government. and this becomes a heavy consideration for the government

[LUCKMCFLY]

What happens is that FIAT money is money that is produced, that is, printed, in many nations it is printed so much that it produces many levels of inflation, then bitcoin has a deflationary economy, that is, it will never suffer from inflation , everything depends on supply-demand, on the law of effort -result that is proposed according to Wyckoff's theory.

Macro-control policy worldwide can be lost at any moment, there is always a possibility that there will be a massive fall of the world market and the world economy will collapse, this would remain in the hands of both gold and bitcoin investors.

Governments can not support bitcoin a lot, because bitcoin simply does not offer them security or any support, that is, they do not have liquidity, governments like banks will always tend to go for insurance, they will not have and will not make their finances remain in the hands of the high volatility of the market.

[princeyeboah]

There will definitely be a great transformation if such a wild wish come to pass yet the governments are of different opinions about crypto and how it works. Most of the governments are not in support of Bitcoin because it is decentralized which makes them lose the control they have over the financial transactions of the people. Crypto has made it far with or without the government's support and it is high time crypto enthusiasts began to deliver their best of support and ignored the government's promotion.

[Tylev]

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?

this is just my imagination, the economy in the country will be chaotic If the government supports bitcoin instead of the existing currency, but it will be stable if the government in the area issues their own country cryptocurrency.

That is why no government will ever decide to abandon its national money and use cryptocurrency instead. It would be disastrous for the economy of such a state. Therefore, an integral attribute of every independent state is the presence of national money. As long as various states exist, their national money will exist until then.

[salty]

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?

this is just my imagination, the economy in the country will be chaotic If the government supports bitcoin instead of the existing currency, but it will be stable if the government in the area issues their own country cryptocurrency.

No government will replace its national currency with bitcoins.As you know it is very risky.You are trading 1 bitcoin and then risk,but what do you lose in the end?Correctly what the part of.And what will the government lose if suddenly bitcoin collapses?The government will lose everything and eventually there will be chaos.

[wahyu wida]

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?

this is just my imagination, the economy in the country will be chaotic If the government supports bitcoin instead of the existing currency, but it will be stable if the government in the area issues their own country cryptocurrency.

No government will replace its national currency with bitcoins.As you know it is very risky.You are trading 1 bitcoin and then risk,but what do you lose in the end?Correctly what the part of.And what will the government lose if suddenly bitcoin collapses?The government will lose everything and eventually there will be chaos.

but there is one example of a country that has changed their currency with bitcoin, namely Venezuela. but indeed this country is in trouble with acute inflation, so that their currencies become worthless. hence the government replaces it with bitcoin, as well as for economic recovery

[Irviyandi]

Indeed it seems very unlikely that the government supports the development of this bitcoin, but we are here suppose that if the government would support bitcoin as a currency, it would be very dangerous for the paper if it had lost support from the government, so this made people choose bitcoin  transactions and leaving paper currency.

[FlightyPouch]

This is the value of Bitcoin but not as stable as the original banknotes, with the current trend getting bigger above all else, it's possible the government supports bitcoin arguments where many souls are aided by bitcoin. do not put aside all things for the common good will happen.

all possibilities can happen but I also agree with you that the government will not hold the crypto currency completely, which I believe the government will adopt an economic system that is used by crypto currencies

I think the decentralized system in bitcoin is a problem for the government. we know that the system cannot be controlled by the government. and this becomes a heavy consideration for the government

Bitcoin is a decentralized crypto currency and it will never be a currency or fiat of a country. The government might like bitcoin and legalize it in their country but I don't think it will ever be more than that. With the volatility of it, I don't think they will even consider bitcoin as an option. If they are considering cryto as an currency, I think they will create their own.

[uneng]

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?

this is just my imagination, the economy in the country will be chaotic If the government supports bitcoin instead of the existing currency, but it will be stable if the government in the area issues their own country cryptocurrency.

No government will replace its national currency with bitcoins.As you know it is very risky.You are trading 1 bitcoin and then risk,but what do you lose in the end?Correctly what the part of.And what will the government lose if suddenly bitcoin collapses?The government will lose everything and eventually there will be chaos.

but there is one example of a country that has changed their currency with bitcoin, namely Venezuela. but indeed this country is in trouble with acute inflation, so that their currencies become worthless. hence the government replaces it with bitcoin, as well as for economic recovery

Venezuela government will never replace their bolívar with bitcoin. Their government is totally centralized, exactly the opposite of bitcoin purpose.
Anyway, a high volatile currency isn't the solution for a troubled economy, they need a smart economical plan to stabilize their economy first.

[costanos02]

It would be nice if the government support bitcoin, but we know the fact that it is impossible for now, bitcoin is not stable coin, prices changes time to time, as of present most transaction or payment required exact amount.

[shannelcoin]

I think if government support bitcoin it will be manipulated by the government so people will be hard use bitcoin and will having a tax like centralized money. And I think it will never happen that they replace the currency they have, Bitcoin is not stable coin so it will be hard for everyone to use as currency.

[boyptc]

It would be nice if the government support bitcoin, but we know the fact that it is impossible for now, bitcoin is not stable coin, prices changes time to time, as of present most transaction or payment required exact amount.

We will eventually see in the future that some countries are actually liking the usage of bitcoin because they dont have choice, for their people cant be stopped of using it.

Some are already supporting it by not conducting any ban and prohibition on their state.

[normanz]

Most likely the government will not do it because the bitcoin system is decentralized so that the government has difficulty implementing controls.

[indrakusumaindra]

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?

well i would say there will be chaos cause there is still many flaws that need to be fix but i do still think crypto will be our future but just not now. There is indeed a goverments that support bitcoin, its columbia and what i see is a corupt goverments that are trying to fix the inflation problem by using cryptocurreny and i think its not going really well.