If the government supports bitcoin instead of the existing currency.

[bce]

maybe if the government supports bitcoin I think it's a pretty good change and certainly follows the development of the era and technology which is certainly growing too

[johnalyn]

If the governments support bitcoin instead of their existing currency it would be a great opportunity to those people who are not yet been involved to bitcoin. And it would help them and the other investors to increase their knowledge about Crypto to make a valuable investments in any currencies that are in the market.

[panjul07]

If the governments support bitcoin instead of their existing currency it would be a great opportunity to those people who are not yet been involved to bitcoin. And it would help them and the other investors to increase their knowledge about Crypto to make a valuable investments in any currencies that are in the market.

I do even think the opposite way, if government support bitcoin instead fiat then it wont be good for bitcoin. The statement means that fiat is replaced by bitcoin, it means that bitcoin should have stable value to replace fiat. Otherwise, it will give bad effects for the economical condition of the country if the price is not stable. People may become very poor once bitcoin price drops so bad, of course people may become richer once its price raise significantly. Volatility of bitcoin price is dangerous to be used to replace fiat currency.

[mung_nasib]

Indeed the rapid development of bitcoin makes a new task for the government to issue a regulation that certainly does not harm the population because with the help of the government that supports this digital currency it is well possible that the community will be able to live well by relying on future investments.

[resty]

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?

Government have always documentation printing Black and white and 100% target for their yearly revenue but how government generate stable income from Crypto Currency if it is volatile. I think government more study before supporting of crypto currency.

[Rooster101]

This is unlikely to happen because as of now, all governments supported only centralized currency and most of them have no intention to try a new method that they can't effectively control. All they can do for the cryptocurrencies is to impose tax on every transactions and implement some rules or regulations on every crypto exchanges. Government can legalize the use of cryptocurrency but they will never become the national currency.

[munareal]

The world is big enough for the fiat currency and cryptocurrency and the two can work for a nation.  The government can create its own cryptocurrency and give its citizen the option to use their choice.  

[thunderbitz2717]

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?

How can the government support the decentralization, on the contrary they are centralized. Unless, they will regulate it. Because government is a type of regulated business industry while Bitcoin is not and we all knows that here. Like what you said who knows?

[AlutBitcoin]

it's not going to happen, because goverment does not support good things

Who knows the government might feel the dire need to implement a system and a technology like Bitcoin without which her survival might not be possible. So If there were good outcomes of the cryptocurrency in the coming financial crisis, government might think seriously about it in future.

[Menawi12]

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 it will not happen. We know bitcoin is decentralized cryptocurrency and government dont have control on the supply. Government always want to increasing economic growth and the way is always pump money supply in market.

[posi]

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 it will not happen. We know bitcoin is decentralized cryptocurrency and government dont have control on the supply. Government always want to increasing economic growth and the way is always pump money supply in market.

You make a point about government not supporting cryptocurrencies instead of existing currencies(fiat) which happen to be the national currency and I agree that the government will never quit their culture, heritage and past heroes paths and chase after crypto which was also the reason why the Chinese ban bitcoin. However, I want you to have it in mind that every cryptocurrencies (bitcoin and others altcoin) which are said to be decentralized are not totally decentralized.
Meanwhile, it will be good if the government support bitcoin but their fiat currency will always come first because it the countries legacy.

[Ozero]

Do not even hope. No government will ever support Bitcoin in the sense that no government will agree to switch to the use of cryptocurrency and give up its national money. States and their governments can allow the circulation of cryptocurrencies on their territory, but they themselves will never actively support them. The decentralized cryptocurrency is simply not capable of replacing the national money of the state, since it cannot interact with the economy of any state and has a high price volatility.

[fly99]

This is impossible, you overestimate the cryptocurrency market. The cryptocurrency is only part of the future financial market. In essence, free cryptocurrencies do not need to eliminate traditional currencies, and both exist. If the traditional currency disappears, then the civilization established by mankind will disappear immediately.

[zhanyiguai261315]

The legal currency is guaranteed by the government!
BTC does not have any organization to guarantee it, so no government in any country supports BTC!

[itsik78]

maybe if the government supports bitcoin I think it's a pretty good change and certainly follows the development of the era and technology which is certainly growing too

I do not think that many governments need this development, because in this way they will lose the control and power with which they are so eager.

[Harkorede]

maybe if the government supports bitcoin I think it's a pretty good change and certainly follows the development of the era and technology which is certainly growing too

The last thing bitcoin needs for now will be government supports, as I'm sure that will bring about new rules and regulations for bitcoin adoption and practices as well for hodlers or traders in their respective countries, If that should come to place a lot of adopters will lose trust in bitcoin.

[stephanirain]

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 the government will support bitcoin instead of the existing currency, i think everyone in the world will be having bitcoin and they will use it as an payment to buy the things that they need and want in every store.

[Rashid555]

If government shows a soft corner t bitcoin and crypto with their existing currency bitcoin will more famous and strong for the upcoming investors and users and this will be a good step of the countries if they duly allow crypto for use and for government transactions too now blockchain is the fastest way to make online payments and a good solutions for holding in wallet.

[wxa7115]

Most of the governments are not in support with the idea of crypto because it takes their power over the finance of the people and gives it back to the people. However, the governments can accept cryptocurrency and as well create their own coins and manipulate it as they deem fit. Amidst this, Bitcoin will still gain value because it will be a major pairing on the market.

Governments are going to try to manipulate the market to fit their needs just as they have doing with the rest of the economy for a long time but they are going to realize that is not going to be an easy task and they will probably move to the second step of their plan which is to create their own cryptocurrency and try to deceive people that way, and since most people do not really make any kind of research when they invest it is likely their coins will have success.

But their success is going to be limited because they are going to create cryptocurrencies that are going to have the same weaknesses as their fiat currencies and when their economy fails their cryptocurrencies will fail as well.

[ngano ba]

If the government supports the bitcoin technology instead of the existing currency tgen it will be a great oppurtunity for the cryptocurrency to be recognized and adopted to be the currency used by the government, so the crypto especially bitcoin holders are very comfortable in using bitcoin in that certain country or government.