Does it even matter if governments and banks accept cryptocurrency?

[SimonJones]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Yes, it really do matters if government and banks accept cryptocurrency because anything supported by government is trusted by the people and they own it without any hesitation. Acceptance of bitcoins by the banks will be like 'icing on the cake' .

[1714607735]

1714607735

[SnapDown22]

Banks and governments can help stabilise the world of crypto to some extent. I believe it does matter if governments and banks would accept cryptocurrency, as they have the capacity to propagate the good news of blockchain technology and bitcoin to the rest of the world who are  still skeptic about the world of crypto.

in my opinion, depending on the country, if it suits, it is good, if not, no matter the name, it doesn't have to be mandatory, but I urge the government to approve the crypto market so that its economy and finances can be managed optimally.

[bestpikka]

Banks and governments can help stabilise the world of crypto to some extent. I believe it does matter if governments and banks would accept cryptocurrency, as they have the capacity to propagate the good news of blockchain technology and bitcoin to the rest of the world who are  still skeptic about the world of crypto.

in my opinion, depending on the country, if it suits, it is good, if not, no matter the name, it doesn't have to be mandatory, but I urge the government to approve the crypto market so that its economy and finances can be managed optimally.

in my opinion maybe if the government intervenes in the crypto world it's good also because we will be given legal protection of course and more freely and comfortably in playing in this crypto world.

[Ladysmith]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Yes, it really do matters if government and banks accept cryptocurrency because anything supported by government is trusted by the people and they own it without any hesitation. Acceptance of bitcoins by the banks will be like 'icing on the cake' .

It might lead to faster acceptance, but I don't think it would change much. Latest projects are coming out with means of security paralleled to that of banks, allowing for many more business applications, and subsequently everyone else's use (salaries will be issued in crypto.) Business ultimately influences the world much more than governments do.

[sultanGol]

Right now, I would still find it an important factor, if banks, or governments would accept crypto, because it would mean, that the market is going more mainstream. And we will surely need more people, who use Bitcoin, and other cryptocurrencies. There are too many people still, who has no idea what crypto is.

[ShadowBits]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Of course it does. Because the Government will be the one that will guide people on how to properly use it and they will be the one who will make people believe that crypto is safe.

[javadsalehi]

Cryptocurrencies don't need governments or any other authority. Because they are working decentralized. But when we are talking about the acceptance of cryptocurrencies by people and adoption, governments does matter. When something is called illegal, people won't use that. It' s true that cryptocurrencies can be used anonymous. But people won't risk. Also, companies and shops don't want to get into trouble by using something they are not allowed to.  

[42K]

Yeah, it really matters. When banks and governments accept cryptocurrencies, crypto will go mainstream and people will start to invest more into it which will make it hit the moon with a significant price on the exchange markets. 

[HAKHALI]

the cryptocurrencies market needs a mass adoption to become stronger.this adoption will not come  without  the governments adoption ,this adoption will drive to issue the legalistic  regulations for cryptocurrencies market since this market still unable to regulate itself . from my own sight :  regulation absence =  the masses adoption absence !!

[Emily_Davis]

In a way it does, because once the government acknowledges cryptocurrency, then it might attract more people to use cryptocurrencies. That said, I don't get it. What does AI have to do with the government and banks accepting cryptocurrency? How will the blockchain technology even benefit from AI?

[Leyss]

In general, the fact of its recognition and adoption by the government and the state is of great importance for cryptocurrency. Without such recognition, that is, the actual legalization of cryptocurrency by the state, the cryptocurrency will not be able to develop, since the infrastructure under its circulation as a currency will not be created.
Non-recognition of cryptocurrency by banks is no longer so terrible for cryptocurrency, since this deficiency can always be replaced by other international exchanges and exchangers. However, after legalization of cryptocurrency by the state, banks themselves will be interested in providing some services in cryptocurrency. Therefore, it is not worth worrying about banks.

[happy weblancer]

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Why so? Do you think it's easy to topple governments just because AI and blockchain is taking over? I don't think so. We only need the governments and banks approval because they run the whole economic scene; their approval is somewhat valuable if we want to continue using bitcoin and other related services connected to cryptocurrencies without any restrictions and unfair limitations. They don't necessarily need to integrate bitcoin and cryptocurrencies in their infrastructure, but having them approve the existence, trade and exchange of bitcoins and other cryptocurrencies is a huge plus for the confidence of the masses who would want to try it out.

In addition, don't forget about fraudsters in the cryptoworld who steal money from our addresses. Government regulation and the elimination of anonymity could complicate these actions for fraudsters.

[farosa]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Acceptance is not a big problem. But i think the governments have enough power to get against Bitcoin. Can you imagine what would happen if they decide that all exchanges are unlawful? or obtaining of Bitcoin is a crime. Bitcoin will still be there, but i can guarantee you that its image will be terrible. I think if they wanted to ruin cryptocurrency, they could have ruined it.

[rudox]

For non informed minds, governments and banks accepting cryptocurrency will give the crypto the much needed credibility and many newbies will adopts and use bitcoin. I call them non informed minds because they are not yet educated on blockchain and what it can do for the world of business and other human en devours. They do not know what AI and other improvements on blockchain can do for the safety and credibility of the blockchain. So let government go ahead to create or adopts their own crypto or adopts the existing ones it will surely help to increase that awareness and adoption of cryptocurrency.  

[olubams]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

It does matter for several reasons. One, the narrative would change drastically. What would have taken maybe 10 years turnround period would take less than one year. For close to a decade, its still becoming so hard to separate crypto successfully from crime and other vices that it has been attached with but with government coming on board with acceptance, before one year, this would have been a thing of the past. Another is the massive adoption that would follow. With government and its access to machineries when deployed would go along way in ensuring that the adoption gets to the innermost part of the citizens.

[AccidentalTuber]

In my opinion it is kind of a compulsory that banks and specially governments accept cryptocurrency. Without the approval it will be harder to attract big industries in the world of cryptocurrency.

[BusyShows]

It is certainly necessary that government and banks recognise bitcoin as a viable payment method. This is fundamental for bitcoin' global establishment.

[Jeroiswen]

Mass acceptance is what cryptocurrency needs and governments and banks accepting crypto is going to help in this regard. Its value will rise which will bring nothing but good.

[mazdafunsun]

I think that you are chosing to interperet goverments "acceptance"in the wrong way , goverments should not are not going to use bitcoin. This is something that is very very unlikely.
Goverments shoould accept btc in such sense that citizens are allowed to use BTC and their economies should be allowed to do so as well without any problems and with regulations , possible a bit different that in usual finance markets.

[basyang]

There is buzz about the prospective of governments and banks accepting crypto or creating their own for its mass acceptance.

I don't think this is even worth acknowledging, as all of the present and future innovations are going to come from the private sector. Governments are just responsible for damage control, do a God-awful job for the most part and have never achieved true democracy.

In the past, people relied on governments and banks not because they're "governments" or "banks," but because they provided security.

Once AI, blockchain, and improved means to use crypto provide even better security than governments and banks ever could, whatever they do will be irrelevant.

Yes it does. Government acceptance in cryptocurrency is a  big impact in the industry of cryptocurrencg because it alloweding some transcation of Bitcoin and other cryptocurrency legally and it is a great improvenment also in their market economy. If Banks accepted Crypto then it is a great collaboration or partnership they will do to do a better transactions to the people and it will gonna be convenient also.