If the government supports bitcoin instead of the existing currency.

[hahay]

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?

So far I know that only a few percent of the government in every country that supports bitcoin and more are in conflict and some of them choose a neutral attitude. Fiat money is more valuable when compared to cryptocurrency we know that, therefore cryptocurrency does not have a center like fiat which has a centralized bank. so with very minimal support for cryptocurrency, cryptocurrency cannot be a currency that can be used for many things even though we know that transaction using bitcoin is good too.

[Sanmark]

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?

Bitcoin must be much more stable than this so some country can accept it as official currency, Tether is more likely to start with. There would not be new for some country to take new currency, new countries who get independence often take some universal currency for their own, but it would be revolutionary if that would be crypto.

[Thanasis]

No government will support bitcoin instead of their fiat currency because it will cut down their revenue a lot.But we no need anyone's permission to use our bitcoin just need the address to send bitcoin and the internet.No governments can restrict you from using an decentralized currency.

[futureofeth]

No government will support bitcoin instead of their fiat currency because it will cut down their revenue a lot.But we no need anyone's permission to use our bitcoin just need the address to send bitcoin and the internet.No governments can restrict you from using an decentralized currency.

Yes, you are right no government will support Bitcoin instead of their fiat currency but government sectors will support the Bitcoin on the basis of other payment method but directly they won't deal with the Bitcoin because the supply of Bitcoin is very limited which we cannot control them.

[Blanca_Gregory]

This is very "luxurious" thinking. Sounds really good to be honest. But it is hardly feasible. Bitcoin gaining government support might get to happen. But the other option is stretching things too far. No government will ever abandon flat currency to go after Bitcoin. Too many hard-to-control variables are involved. It is not a reasonable option in all honesty.

[wendiar19]

in my opinion the government is very confusing right now you have to be able to take advantage of a situation like this that market conditions are unstable and can be controlled because brokers often make conspiracies so that prices rise and fall quickly you have to take advantage of such situations.

[Slavyanskiy]

I do not agree with the fact that bitcoin does not have real value. Bitcoin has a certain value. And if the government thought for citizens, it would have long supported Bitcoin.

[Andrew S]

The best option is if the government supports bitcoin and declares it to be the only currency.

[Agathai]

Blockchain and bitcoin provide good characteristics and performance for users. But I think the government will find it hard to accept them with the rules and the consequences of managing and coordinating their economy and society. Decentralized supply is a contradiction in government operating principles. Therefore, this possibility is impossible.

[diger]

I think that bitcoin will never replace the traditional currency. I think that there will be a crypto dollar, and each country will have its own crypto coin... I would not want to bitcoin became the world currency because it can not kontralirovat,and that means anarchy ...

[snewkadel]

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?

No,I don't think the government will support bitcoin, how do you imagine? So that all countries would unite the economy?In our time, everyone wants the authorities and will stop at nothing,and bitcoin can not be controlled .

[Kirito-kun]

I think that bitcoin will never replace the traditional currency. I think that there will be a crypto dollar, and each country will have its own crypto coin... I would not want to bitcoin became the world currency because it can not kontralirovat,and that means anarchy ...

It is true that bitcoin will not be a local currency even govenrment legalize it because bitcoin is decentralize. Perhaps they can only use bitcoin as an alternative currency but it cannot totally replace the regular currency. Besides, bitcoin is not yet well known or it is difficult to use by people in other transaction

[Mjadon15]

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 assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.
A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

[Mjadon15]

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 assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.
A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

Many politicians of course, around the world are not quick to realize this. It will take years of experience, education, and policy experimentation.

Many pundits and analysts have the impression that shifting to cryptocurrency—not just as a payment instrument, but as the money itself—will never be supported by national governments. A popular misconception suggests that a cryptocurrency based economy has these undesirable traits:

1. it is deflationary (i.e. that inflation is necessary to promote spending or to accommodate a growing economy)
2. it facilitates crime
3. it interferes with tax collection
4. It interferes with national sovereignty, which leads to “world government”
5. It is not backed by anything, or at least not by anything substantial, like the Dollar, Euro, Pound, Yuan or Yen
6. It interferes with a government’s ability to control its own monetary policy

[Rag3]

No governments likes and support current currency which a banking system allows in that country. Governments can control bitcoin, online currency, then they prefer to use bitcoin.

[tailwate07]

I think the government will never favor bitcoin against fiat. Those politicians are smart  and using crypto can easily link them to their anomalies and it will be the strongest evidence against them that they cannot alter. So they want fiat because if things got out of hand, the proofs are very easy to erase.

There are likely chances to see the government supporting the crypto currencies instead of existing regular currencies in the future but for now, nothing like that is going to happen. The government is still waiting for the right time to make any such kind of decision and that it will only happen once we will see a major change in the demand as well as the market values of different crypto coins.

[Neutronbot]

The most concerned government in most regions is how to control the economy. Inflation is not the most important for them. Losing economic control is the key point!

[Carlosfeer12]

It is going to affect and change a lot of things, if you are connected with the government.

[Rainbow009]

Gov'ts would only support bitcoin, if they can control it.
Bitcoin is not stable enough to rival national currencies. The crypto space is decentralized and as such is prone to scams and risks, making it an unsuitable investment option.

[sumanto]

for now it seems that the government has not given too much support in cryptocurrency. Only a few countries have supported the development of cryptocurrency. If all governments in various countries have supported the development of cryptocurrency, then it will trigger cryptocurrency prices.