What will happen if Bitcoin gets official permission from the government...???

[Christopher_Hayes]

When the government finally accepts bitcoin then it means that more and more people might start using bitcoins and altcoins as well. Maybe the government will even enforce everyone to use it. That being said, you have to consider what the implications will be once the government starts regulating bitcoins. Who's to say they will not tax every transaction?

[dool]

I think the government will not do this because it will make it easier for crimes that enter each country without being able to be controlled by the government, maybe if only for the sale and purchase of people in the world it is very easy but not for a state government because it would be dangerous.

[Charmainekiss]

That is just our dream and I don't think it will happen in the future. The government are trying to ban bitcoin all over the world

[Treasurer]

This must be one of the greatest news or improvement of bitcoin. Like imagine in any country using bitcoin is legal and of course with government handling bitcoin will make it safer and convenient. This will help more people and help its economy to grow.

It would be great if all countries of the world accepted Bitcoin as a single world currency. Then the dollar would lose its world supremacy.

[jbarcenas18]

That would great opportunity if the government permits bitcoin in the country. People have the freedom to choose if they will use digital money or the current currency.

[andieoke]

The government cannot mix hands with the affairs of Bitcoin transactions, the Government cannot take advantage of this. Because bitcoin is decentralized and transactions from person to person. And even if the government allows bitcoin to apply in the country, the Government still cannot regulate it. but with Bitcoin as a legal payment tool in a country, this will definitely attract a lot of interest from the public to own Bitcoin. of course this will affect the price of Bitcoin.

[Naughty Princess]

That would great opportunity if the government permits bitcoin in the country. People have the freedom to choose if they will use digital money or the current currency.

I agree. Many are going to accept and used it for daily transaction and even buying in offline stores. There will be great opportunity to everyone and no one can think negative about it again like an scam. People can open there eye on adapting the new currency and how good it is to be legalized in every country.

[voltesbit777]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

That's impossible to happen dude. First reason was Bitcoin is decentralize while the government of each nation was centralize, But the government can adapt the system it has(which is Bitcoin). And that's what other country's did like what happened I think in Japan, Korea, declared bitcoin as their secondary currency to their nations, this was just base on my understanding.

[raking]

I think If you want the government to accept Bitcoin then Bitcoin must accept the rules of the Government. But that is not possible because if bitcoin accepts government rules then bitcoin will no longer be bitcoin because bitcoin will lose its great function.

[Vritesh]

According to me if bitcoin gets official permission from the government then new status and statements of the economy all over the world will be seen. Economy will grow fastly and will become more stable. People will be investing in without any worries and this will lead to good results. So i think government should give permission to bitcoin.

[osmo]

I think the permission from the government is most awaited by cryptocurrency users and communities, especially in countries that prohibit the use of cryptocurrency, if the use has been granted permission from the government, the use of cyrptocurrency, especially bitcoin will be more and more likely to replace the use of cash.

[jekquenkinkas]

nowadays many countries ban bitcoin and if the world country legalizes bitcoin, then the government will intervene also about bitcoin transactions and change the rules about bitcoin.

[alonelyorange]

when government allowing for using bitcoin as payment transaction maybe many people around at our country will be focus and invest at bitcoin, make bitcoin and crypto price will be growing up because we know how the interested of our people at investment.

[SnapDown22]

If the government issues official permits for Bitcoin, that will be the main policy they will make. But I feel that it is impossible to happen right now, because there are still countries that prohibit Bitcoin from entering.

in my opinion, if bitcoin is permitted by the government, it is very good but that is not permitted, which for me is not satisfying, even though we here want to advance the existing technology and to make it easier to translate, even though our basic needs are buying and selling.

[killat]

There are a lot of "if" when we speak about Bitcoin. If government will give the go for Bitcoin to be adopted world wide, the price will raise significantly. This doesn't happen anytime soon as government does not like things that it cannot control and will not approve something before applying a lot of regulation.

However, if price is quite stable during all the negative propaganda against it, Bitcoin proved it is very strong and will survive no matter what.

[sirojuddin]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

it is also possible for the government to intervene in BTC or altcoin transactions, possibly doing so through the bank or other party. this will greatly benefit government, users and also BTC.

[Lorna111]

The advantage is that everyone can see clearly, the government accept Bitcoin is a big step for Bitcoin. There are many Bitcoin holders who have difficulty in their country. The fact that Bitcoin is used publicly is what we dream about.
However, it has its downside, that when it is accepted by the government, Bitcoin must accept the rules from the Government. Maybe some government regulation will make Bitcoin lose its great capabilities.

   Once this happen that Bitcoin is totally accepted by the general public, it is our favorite coin to have in our wallet for crypto transaction in all aspect of the digital market, Regulation on Bitcoin by the government financial institution will be a good thing to happen, it will be openly use in the market and other financial business establishment for general public.Government will only allow the use of Bitcoin thru Regulation.

[surfer43]

If this happens than bitcoins will get a huge pump and the price will reach moon.
This is what we all are waitung for actually and it could really make the price for bitcoins reach our expectations.

[gabmen]

If this happens than bitcoins will get a huge pump and the price will reach moon.
This is what we all are waitung for actually and it could really make the price for bitcoins reach our expectations.

Well that would depend if all governments would collectively state their support. Demand would definitely explode but i don't expect anything like a x100 pump. I think btc is over that kind of movement already.

[galambo]

<Snip>

Well that would depend if all governments would collectively state their support. Demand would definitely explode but i don't expect anything like a x100 pump. I think btc is over that kind of movement already.

Not really a x100 pump but atleast wr can see some pump for the price of bitcoins as it will really make a better increment in the amount of investors. Legalising bitcoins is been a main issue since more than an year but no legal action has yet been taken so it is really much hard ti predict anything about the legalising future of bitcoins.

Also i think that bitcoins can only gain some legalising importance if all the governments globally take a final decision together about the decentralised currencies. I can see that Iran has already legalised bitcoins and you can see the price for bitcoins there. They are sky reaching.