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Author Topic: If the government supports bitcoin instead of the existing currency.  (Read 2473 times)
spongegar
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September 12, 2018, 03:55:47 AM
 #221

I guess if a country supports crypto currency then i doubt that they wouldn't create their own coin so they can manipulate it themselves. As for an ideal world. I'd guess that it would be a load off their backs and pricing for goods wouod be different. I guess we will see a total overhaul of a country's financial system

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September 12, 2018, 08:18:11 AM
 #222

They never choose it over their own currency. I think the volatility of the value of bitcoin is worst than the inflation and purchasing power of fiat. Another thing is that, it id still decentralized and the government cannot control what should be happening on it.
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September 12, 2018, 11:19:10 AM
 #223

Then that will be a good move for the government if it embraces the technology instead of banning them. There will be less fluctuations of its market cap and price since it will attract more investors because bitcoin is backed by the government itself and it gives confident and security on their side especially when bitcoin is also regulated.

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September 12, 2018, 11:22:44 AM
 #224

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?
Yes, I also strongly agree with the opinions you convey. if only bitcoin gets permission from all countries and creates credit cards. then that will make bitcoin over the wind. I am sure that one by one the country will pass on bitcoin someday and all of them will join the crypto currency, because that will make things easier.
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September 12, 2018, 11:56:39 AM
 #225

I guess if a country supports crypto currency then i doubt that they wouldn't create their own coin so they can manipulate it themselves. As for an ideal world. I'd guess that it would be a load off their backs and pricing for goods wouod be different. I guess we will see a total overhaul of a country's financial system
implementation of new systems and technologies such as crypto and blockchain will impact many activities in a country. but if the new system makes the country better, then crypto will be fully accepted
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September 13, 2018, 08:48:17 AM
 #226

One thing that causes the government not to support bitcoin is because as we know that bitcoin is a decentralized currency that does not require a central bank so it can not be controlled by the government. Maybe bitcoin will get support from the government if the government can find a way to control the existence of bitcoin so that it will apply the tax system by the government.
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September 13, 2018, 08:48:44 AM
 #227

As we know that bitcoin is a decentralized currency that does not require a central bank so it can not be controlled by the government. maybe bitcoin will get support from the government if the government can find a way to control the existence of bitcoin so that it will apply the tax system by the government.
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September 15, 2018, 09:13:57 AM
 #228

These are just figures and letters that society knows as having a certain value for a certain moment. Therefore, it is unlikely that any state will ignore its money and use the crypto currency as the main money of this state. This will be a very reckless step.
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September 15, 2018, 09:16:41 AM
 #229

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 before it happens, cryptocurrency needs to talk to government first. the goal of crypto is become decentralize which is not controlled by a government. so it really needs a closure before it become legal to a specific country.
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September 15, 2018, 09:26:07 AM
 #230

maybe this is what Bitcoiners hopes most, namely getting support from the government so that if the government supports it, bitcoin can be used as a currency and will be easier to use
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September 15, 2018, 09:32:51 AM
 #231

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?

Will we cannot set aside  your predictionthats this would happen soon especially if bitcoin would get an national credit,so that its could eliminate inflation the two relative ratios between the crypto and the fiat currency,otherwise its could happen only if the cryptocurrency would become regulated and legalize all over the worlds because,if this would not implemented everythings are in useless and not worth in the investment.

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September 17, 2018, 12:10:47 PM
 #232

As we know that bitcoin is a decentralized currency that does not require a central bank so it can not be controlled by the government. maybe bitcoin will get support from the government if the government can find a way to control the existence of bitcoin so that it will apply the tax system by the government.
If the government supports bitcoin, people will earn huge money from bitcoin trading because it is the most profitable mean for making money. More and more people will put their money in bitcoin because then it will be centralized and legalized. People will be satisfied with their investment because the government will support it and they may take responsibility for any upsets and scams. 
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September 17, 2018, 12:24:08 PM
 #233

I think it's very difficult to happen because this government is very difficult to accept payment and circulation of bitcoin, but if the government starts to provide support for the existing cryptocurrency it will make cryptocurrency prices very expensive.


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Lorin
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September 17, 2018, 01:44:21 PM
 #234

I think it wont happen that government will collaborate with bitcoin and support it, we all know that they are against of it. They will not control bitcoin like paper money. People will acceot bitcoin but government will not.

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September 17, 2018, 01:58:28 PM
 #235

if the government supports bitcoin then, there will be many new investors who invest their capital in this investment, because it is not impossible if the government has recognized bitcoin, the public and investor confidence will increase, this is a good thing for bitcoin and other crypto currencies, but I think this is a very difficult thing to happen because now most governments are afraid and do not recognize their bitcoin as if by turning a blind eye to this phenomenon

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September 17, 2018, 02:38:08 PM
 #236

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 can happen if we all turn away from paper money and banks. But you can see the paper money still decides bitcoin and people are still dominated by the bank, it is difficult for government to support bitcoin
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September 17, 2018, 03:17:54 PM
 #237

If the government supports bitcoin instead of pre-existing ones, one of Bitcoin's draws, in addition to rising momentum, is fact. Bitcoin is not strongly correlated with stocks and bonds. It is therefore considered to be a genuine alternative financial product.

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September 17, 2018, 03:57:12 PM
 #238

Regarding this topic, such kind of measures may become reality in a dictatorial state. In the democratic countries there are small changes because there are too many interests.

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September 17, 2018, 05:03:48 PM
 #239

Then that will be a good move for the government if it embraces the technology instead of banning them. There will be less fluctuations of its market cap and price since it will attract more investors because bitcoin is backed by the government itself and it gives confident and security on their side especially when bitcoin is also regulated.
it's true that what you say with the government supports bitcoin, the development of bitcoin is also more rapid and the price will also experience a rapid increase. so we are all those who are bitcoin users also join the string because bitcoin can be regulated and get security that is really right from the government

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September 17, 2018, 05:20:14 PM
 #240

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 of any state will never support bitcoin in place of its national money. This simply contradicts common sense and laws of economic development of the state. National money is issued for the amount of the country's existing gross product. The state can pre -print money for the amount of annual gross income. Crypto currency will completely destroy all the economic regulation of the state and all for the sake of a virtual currency that is not owned by anyone, not provided with anything, which can not be controlled and which has horrendous volatility? And why do they need these problems?

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