If the government supports bitcoin instead of the existing currency.

[winterland]

If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.

Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money.

There will be people like that who oppose cryptocurrencies because of their ignorance, but at the end you cannot ignore the real life effects of bitcoin, when those people begin to see that all of those that adopt cryptocurrencies are becoming very wealthy they will like to have a piece of those profits as well unfortunately it may be too late for them if they wait for too long.

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[xieqieshangu9]

I don't think there is any reason for the government to support the BTC without supporting the legal tender!

The government cannot participate in the process of the bitcoin release, and cannot control BTC!

A country's currency credit comes from the real economy, and bitcoin has too little to do with the real economy.

[BlueStackz]

I don't want it that government supports bitcoin instead of the existing currency. You know existing currency is paper money and do you think it is possible that government ban the existing currency and support the bitcoin. It is more difficult for government do to it. Nearly it is impossible do to it for government.   

I don’t think so that there will be any such harm if the government decides to do so. This will in fact result in much better reputation and fame of all the crypto coins and then there will be likely chances of better market value of the crypto coins because at that time, the awareness rate of the crypto currencies will also rise high as people will be more confident in investing their money into it.

[whirlcoin]

Of the governments support cryotocurrency it will be more useful for the citizen but not that much useful for the government because it can reduce the revenue of the governments of they support bitcoins without regulations amd taxation system bit if they done with appropriate actions taken then both government and citizen will get benefit from cryotocurrency earnings.

[Faxmate]

It depends on the type of government. If a country is a capital outflow, then it is difficult to support Bitcoin, a country is a capital inflow country, then it is likely to support Bitcoin. At this stage, Bitcoin is the most effective tool to bypass the government's capital blockade, so it is inevitable that some countries will support it, and some countries will oppose it.

If we generally talk about the governments of different countries, then most of the governments are not showing positive response and that for now, they are not going to treat crypto currencies just like the way they are treating other regular currencies. in case this thing ever happens, then this will surely help you out and that the demand of the crypto currencies will then be greatly increased.

They know bitcoin can vanish the corruption and bank frauds and many thing will be regulated in a better way. But none of the goverment people and politicians looks that to happen in the live market.
We need to make the bitcoin legal in every country to stop the US and UK colenial rule from this world. After the world war ends also still we are seeing the market ruling with the corporates and banking attacks still on every countries. I believe bitcoin will make the everyone in the same standard.

The reason that many governments do not take interest in bitcoin and are not going to legalize it is that they have no control over bitcoin and they can never find how much money one have because this is a big disadvantage of bitcoin that the underworld and black money holders will use bitcoin for their black money and by this way they will hold the whole economy of the country.

Yes exactly increasing demand and high fame of bitcoin is making then scared about bitcoin, they know that bitcoin is good currency which is independent about growth and if they will find it growing they will be worry about their own currency, for me as well bitcoin is the best and it is very easy to use to I prefer to use bitcoin than my currency of country, I like bitcoin for fast transaction and easy use, high profit and very reliable and safe holding, I don’t want my government to ban or dislike bitcoin ever.

[batang_bitcoin]

A country's currency credit comes from the real economy, and bitcoin has too little to do with the real economy.

If a government will value and support more of bitcoin instead of their existing currency. Whales will fly to their country and can easily manipulate their economy. How ironic that we are telling that bitcoin is the future currency but with this type of situation we are likely to stop the innovation if there will be a country that will start getting serious with bitcoin. But I don't think that this will happen, a government won't allow this to happen. They can still support bitcoin/crypto but it won't come to this point.

[BinManR]

     This goes against the very nature of Bitcoin itself. The whole purpose of the cryptocurrency is to be a decentralized currency that is not controlled by any governing agency. I think you are assuming that only positive things would come out of a government's regulatory use of cryptocurrency.

     Entangling the success of a cryptocurrency with the success of a government imposes many risks. Cryptocurrency needs to stand alone on its own merits. Governments are prone to war, shifts in power, and corruption. Only because cryptocurrency is not backed by any government agency, it can outlive any governing body.

You're right about this. But I think in the crypto market, any adjustments or changes can happen. Nature and character may no longer be valid when enforcement and enforcement are issued by the government. Of course, I did not expect that. It will no longer see the volatility of the crypto market if the situation needs to change.

[Visbay]

If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.

Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money.

There will be people like that who oppose cryptocurrencies because of their ignorance, but at the end you cannot ignore the real life effects of bitcoin, when those people begin to see that all of those that adopt cryptocurrencies are becoming very wealthy they will like to have a piece of those profits as well unfortunately it may be too late for them if they wait for too long.

For now bitcoin holders are very happy and as all of us knows that those who were not supporting bitcoin in past are really sad today, so I am in favor of bitcoin, government of my country are not bitcoin haters and they are not opposing bitcoin right now,. Bitcoin adoption is the only thing which will make your future brighter and safer; we should trust bitcoin because it is going to be the currency of the future, and government should not oppose bitcoin because bitcoin making our community good and it is supporting us to have all the things in life.

[The best one]

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?

But they never support crypto currency as their national currency.Because it can destroy the governments revenue so they will keep their fiat money as their national currency forever.But if they do then it will do more benefits to the citizens not to the governments.

I think the government will not support bitcoin because it takes long time, beside that the value of Bitcoin but not as stable as the original banknotes, let see bitcoin in the future Will The government give support for Bitcoin instead of the existing currency ?

[1Referee]

Need special regulation that handles bitcoin when it starts to discredit fiat currency.

Bitcoin itself doesn't need regulation and can't be regulated. To add; governments are 'discrediting' fiat themselves with their printing habits.

Besides that, so that people do not feel confused with it, the government also need to launch the official exchange service so that society will start to trust crypto because the government has supported crypto by giving the exchange service so that society will not hesitate anymore to use crypto, especially bitcoin.

No. We don't need to have governments start exchanges so sheeples start 'trusting' crypto. If you don't have faith in the underlying technology of crypto, then you will never have faith in crypto, not even when the government starts getting involved. Also, we are entering a time where people are looking to distance themselves from a system not doing anything for them, but instead, only makes them become poorer as years go by. Governments will soon need US, not the other way around, and that change is something crypto will be forcing through slowly but surely.

[GoldenLad]

I'll do lay and see how the  government will pledge their support for any cryptocurrency expect if its their own country cryptocurrency.  With the recent banning of cryptocurrency going on in most major countries I doubt if any  government will forsake their currency for an a decentralized currency this is because digital currency make the government to have less control of their citizen's currency . The government always wants to be in charge.

[ivrynx]

What I see, if governments supports bitcoin, bitcoin will totally replace gold as a country's asset, those who have more bitcoins will be considered the richest country, however if that happens, I do not see that people will be using bitcoin as a currency, rather it will be as a security for them, since there is a limited amount of bitcoin, the downside that I see is the market can easily be manipulated by whales, just like what we are seeing in the charts as of late, another thing is that, therr are few people who holds with them a huge amount of bitcoin and they might dictate what to do with bitcoin, just like what we are seeing fiat right now, those who have a huge amount in the stock market can dictate when they want the market to go down or not. The bright side that I see is, altcoins will also rise and people will be using them rather than bitcoin, still there is a down side to it, there will be no more upper,lower and middle class, what you just need is to have an altcoin that has a high value and grows in time, then you are set off for life, hopefully everything will turn out better than what we have right now, since fiat will be gone.

[Shafiqul Islam]

most likely wont happen simply because its decentralize. Government form in centralized manner itself. their own fundamental is centralized and its certainly would not sync well with crypto decentralized ideas

Very important information. If government support Bitcoin instead of existing dentralised currency then it would great changing in total economic systems.

[tienigarazz]

This paper money and crypto currency are not the same. So choosing one of it will bring big change in economy.
But because of some bad news rising about crypto, one of it is banning in some country, supporting crypto currency and replacing original money by crypto currency will not happen. Every decision can change anything so, we have to think it first before doing it.

[Blue Bell]

If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.

Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money.

There will be people like that who oppose cryptocurrencies because of their ignorance, but at the end you cannot ignore the real life effects of bitcoin, when those people begin to see that all of those that adopt cryptocurrencies are becoming very wealthy they will like to have a piece of those profits as well unfortunately it may be too late for them if they wait for too long.

For now bitcoin holders are very happy and as all of us knows that those who were not supporting bitcoin in past are really sad today, so I am in favor of bitcoin, government of my country are not bitcoin haters and they are not opposing bitcoin right now,. Bitcoin adoption is the only thing which will make your future brighter and safer; we should trust bitcoin because it is going to be the currency of the future, and government should not oppose bitcoin because bitcoin making our community good and it is supporting us to have all the things in life.

Bitcoin is not worth hating but it is worth loving for the people and for the government, same as you in my country people are loving bitcoin they are investing and the best thing is that government did not say anything till now for to stop or to use bitcoin, so government is neither haters nor supporters but soon I am sure they will accept bitcoin and it will be legal for all of us, so I  like bitcoin and I want it to be legal and being support by the government as soon as possible.

[winterland]

If the government ends up supporting bitcoin then it will be a good thing and a welcomed development. But I doubt if they will ever plague their support for any cryptocurrency because they have so much to lose when they do. The government can't seem to lose their control over monitoring their citizens' monetary activities. And their support for bitcoin will make a lot of people shy away from fiat currency.

Actually, just not government who doesn't like cryptocurrency, the people will certainly be many who oppose because their knowledge of cryptocurrency is still small. And governments don't have to adopt cryptocurrency for the use of payment systems, they can make their own digital currency who can manage by themselves and have a centralized system. But the society in our country is still the layman in the digital world, and still comfortable to use physical money.

There will be people like that who oppose cryptocurrencies because of their ignorance, but at the end you cannot ignore the real life effects of bitcoin, when those people begin to see that all of those that adopt cryptocurrencies are becoming very wealthy they will like to have a piece of those profits as well unfortunately it may be too late for them if they wait for too long.

For now bitcoin holders are very happy and as all of us knows that those who were not supporting bitcoin in past are really sad today, so I am in favor of bitcoin, government of my country are not bitcoin haters and they are not opposing bitcoin right now,. Bitcoin adoption is the only thing which will make your future brighter and safer; we should trust bitcoin because it is going to be the currency of the future, and government should not oppose bitcoin because bitcoin making our community good and it is supporting us to have all the things in life.

Even with all the benefits that bitcoin offers to the general population I'm sure that there are going to be many governments that are going to want to forbid it, you need to understand that they do not really care about the population they are governing, they only care about maintaining their power and cryptocurrencies are one of the biggest threats that they have faced in the last century.

[Apes]

I think it is not easy for the government to support bitcoin because there must be pros and cons and not many people can use it .. it takes a very long process if the government supports bitcoin but I think it is unlikely to happen .. even if the government supports bitcoin it is just individual and can not replace the existing currency ..

[janhllr]

No. Because the number of Bitcoin is limited and people get BTC from mining, something that the government cannot fully control.
And I have to remind you, Bitcoin is decentralized and no government would risk their finance power with Bitcoin.
In addition, it is possible to hack exchanges, which rarely happens with fiat token.

[palle11]

"instead". You mean they should support the other and abandon the other? It is possible but it will cause a massive confusion or even anarchy or even panic to people. How would people convert it to cryptos immediately? Imagine a massive slowdown to the network traffic because of all these conversion happening.  Why not co-exist with the existing currency instead? Is that something of a problem? I know it will have some kind of conflict with the banks, but adjustments could also made with that.

If the support is possible as you are trying to say, then there won't be any conflict what so ever because the same government would organise it in a way that it won't be conflicted.  This is what I'm reasoning.

[Snaic]

The government of any state will never make a decision to destroy its own national money and replace it with a crypto currency. The task of any government is the strengthening of national money. From this, the economy of the country is strengthened and increases. Replacing the national currency with a crypto currency will cause the economy to decay and its complete unbalancing because of its high volatility. I think that unlike this forum, there are no children in the governments of the countries and they will never have such a stupid idea in their heads.