If the government supports bitcoin instead of the existing currency.

[senin]

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.

In my opinion, if the government started supporting Bitcoin rather than the fiat, then the have to make important changes in the policies they have formulated for the advancement and growth of their economy because initially the policies were made keeping the fiat in the mind and the implementation of cryptocurrency as a medium of exchange will not work in the existing policies. The government would need to formulate new policies in order to keep the equilibrium in the economy.

No government will abandon its national money in favor of supporting decentralized cryptocurrency. If such happens, it will simply kill its economy. Therefore, this cannot happen in principle. All national money of the states interact with their economies and this ensures the growth of the state’s economy. No decentralized cryptocurrency can provide such a relationship. No decentralized cryptocurrency can be tied to the economy of a particular state, so the cryptocurrency can only go in parallel with the national money of this state.

[basyang]

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, in my own opinion. Even if the government support bitcoin they would abandoned their national currency because of it. Many people are probably complain for it because since they are born they used their national currency and it will be a huge problem to eliminate it to use in the market because of our digital currency. well, I think the government would not do it, because many people can not used a digital currency compare to those people who ara afford to used it.

[Altcoins enthusiast]

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 that happened the bitcoin will become the major currency and we should pray for this to happen.  Bitcoin investments is getting accepted worldwide and if you can invest now you will makes money in future.  Governments are going to adopt bitcoin but when that will happen is what we really did not know.

[Christopher_Hayes]

I find it hard to believe that the government will ever favor bitcoin over the existing currency. For one, they can't control bitcoins or altcoins, so why would they support it than the existing currency? Second, who's to say that when the government starts accepting, using and supporting bitcoin that it will be good for the market? For we know, it might cause the downfall of the digital currency.

[darefreads]

If government supports bitcoin one day instead of existing currency I think it would be the same because if they want to support it the major thing that will happened is it will legalized and the value may grow in a standard value like how the existing currency maintain nationwide.

[AK47-]

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?

Eliminating inflation from the present economic model isn't really viable according to me.
Even if we keep that aside for a moment, will any government be ready to adopt a transparent and decentralized monetary model? The answer is a plain NO.
Paper money might don't have any intrinsic value but at least government control it. they would never be able to do it with Bitcoin.
Most probably they will bring their own cryptocurrency based on the monetary model not like the Bitcoin.

[Bonsaiav]

For us as residents of a country maybe this will provide many benefits because bitcoin will be a more appropriate media for banking and financial residents, rather than paper currency which's supported by the government especially for people who don't have bank accounts.

[margaret22]

I think, both Bitcoin, and paper money has real value, just like any other asset, we own, like a cell phone for example. But Bitcoin has not been created IMO, to be controlled by governments, even if it would mean smaller volatility.

[yamete kudasai]

It is impossible that the government would support bitcoin . Why? because they don't have to much understanding in bitcoin and cryptocurrencies they also examine and test how the bitcoin will gain as the virtual currency or exchange in market area  around the world.

[South Park]

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 government around the world is going to do that willingly, besides even if they were thinking about it I will be opposed to such move, cryptocurrencies should stay away from government control, it doesn't matter if it seems that governments are doing a movement that seems to be supporting them, it is better that cryptocurrencies and governments keep a healthy distance between each other.

[sirminesalot]

If government supports bitcoin one day instead of existing currency I think it would be the same because if they want to support it the major thing that will happened is it will legalized and the value may grow in a standard value like how the existing currency maintain nationwide.

of course I'm not sure if the government legalizes and supports bitcoin, we know that every year there is always a lot of negative news because the government doesn't like bitcoin. bitcoin is very difficult to be controlled and understood by the government because there is so much that the government needs to learn if it wants to be guaranteed security.

[cfif123]

It seems to me that this will never happen because bitcoin is decentralized. The government will not want something that they can not control.

it seems because of the many that I hear the government is still hesitant about bitcoin if it is legalized, because most of the governments hear if bitcoin is a place that can be used as money laundering and fundraising for criminals like terrorists

[romantic007]

I don't see that happening to be honest. It can't make healthy environment for home economy of the country therefore it's not in the convenience of nation.

[mutrang23]

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 it is Bitcoin, I think it is not because the current Bitcoin number is limited and it can not generate more. So if the government accepts it and uses it instead of FIAT, it will be the biggest barrier that governments need to address if they want to do so.

[Tcpark]

I think government woun't upport Bitcoin or any other crypto cause its uncontrolabble while fiat is 100% issued and controlled by them....

[Rustamm]

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 government will actively support Bitcoin, and even more so, will not give up their national money to switch to using Bitcoin. If only one state existed in the world, then it would be possible. Also, the transition to the full use of cryptocurrency is possible in the event that all states unite along the lines of the European Union, that is, when the economies of states and their financial systems actually unite. In other cases, the state will not be able to fully switch to the use of decentralized cryptocurrency, since it cannot be tied to the economy of a particular state.

[Kamote_1102]

I think it's far from happening since the Bitcoin is decentralized. The Government will surely not support anything that they can't control. so for that to happen, the cryptocurrency will be under the Government. this is just my point of view on this matter.

[Altf4]

Everybody who are joining the bitcoin technology wishes that the governmwnt will support the bitcoin technology , but that is far because we are only wishing it ,but tbere maybe time that it will be realize in the future , for the time is still rolling and advance technology are been launching ,so that is really be good if government supports it .

[andriarto]

I think it's far from happening since the Bitcoin is decentralized. The Government will surely not support anything that they can't control. so for that to happen, the cryptocurrency will be under the Government. this is just my point of view on this matter.

of course the government wants to use it for the prosperity of the people, so surely there will be policies that will regulate it, even though we do not know the current policy to be taken, but i think it will have many advantages for the development of BTC

[ipanks]

I think it's far from happening since the Bitcoin is decentralized. The Government will surely not support anything that they can't control. so for that to happen, the cryptocurrency will be under the Government. this is just my point of view on this matter.

of course the government wants to use it for the prosperity of the people, so surely there will be policies that will regulate it, even though we do not know the current policy to be taken, but i think it will have many advantages for the development of BTC

I hope that the government can support bitcoin and not make bad regulations for controlling bitcoin and cryptocurrency. Besides that, I hope that the government is not applied the high tax for bitcoin user so we can pay the tax and obey the rule. And if the government support cryptocurrency, I think it will make people are not afraid if they want to invest their money in crypto because the law of the government protects them.