Does it even matter if governments and banks accept cryptocurrency?

[usticiann]

It's going to turn governance on its head when cryptocurrency is established as the only type of currency there is. One of the major powers of being in govenment has been the control of money. With this out of the governments' hands, what is the use of them? It's worth thinking about.

[Bitdressa]

in my opinion, it should be agreed that other users will be more flexible in terms of transactions using crypto money and money from their respective countries.

[carlisle1]

Well for me ,this is all what we are waiting for the cryptocurrencies go mainstream,mass adoption is what we all need.and i know even you have the same thought .banks are now willing to adapt this crypto and more governments are starting to plan creating their own crypto

[GrayFullbuster]

There are now some governments and banks that have now interest to cryptocurrencies. Actually there are now banks that is using blockchain technology because of its uses and important function in our economy.

[peach56]

No course not, there are many payment services which do. With the new development of STO's. crypto payments will now be taken into tokenised assets. Once there are proper chain analysis and KYC checks (good enough for banks in the future) maybe they will take certain risks on it.

[WebTera]

Nevertheless, the model of our society will not change very soon and the government and state-owned banks will continue to maintain their influence. Therefore, their opinion about bitcoin is of great importance.

[Sumo]

Of course, the government's permission to use bitcoin is very important. And despite the fact that now most countries are quite negative towards him, I believe that he will still be able to fully develop the world and the government will become more loyal to him.

[adjudicator]

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.

I think it will be a win-win effects both to the cryptocurrency and the government, if government approved thr bitcoin, the economy of that country can be increased in a sense that we all know there are lots of people all over the world that using a bitcoin and other cryptos, on the other hand, bitcoin will also increased continuously because of the additional users of bitcoin.

[royalfestus]

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.

if the government and bank accept the cryptocurrency it will be better, because crypto will be stronger, but accepting or not crypto has moved forward with a large community that cannot be stopped

Lately I noticed the contribution of government and banks to cryptocurrency in some countries, however they will never legalize the coin. It is a valuable asset not to be neglected and more countries are joining the campaign to collect tax from it. It is up to 10 of existence and everyone wants to benefit from the space

[bagsat]

Yes it is. Because the decentralized currency of bitcoin will abolished. Which means banks or government can make their own policy on how bitcoin will roll in the market. Tax also will be included everytime you cash in and cash out.

[Atomic.2017]

Banks and governments accepting cryptocurrency as a mode of payment is fine as long as they don't regulate it. The technology of the blockchain is improving that it will be able to provide the security that we all want.

[bitfocus]

yes, it means a lot, it is like getting pre-approval or got a strong legal entity and acceptance.

[Somsak-90]

It matters a great deal. It is like being invited to a ball of high society and being given the key to access all secret rooms

This acceptance means that the crypto will be well penetrated in the system and used with even wider purposes. If the banks start openly trading with cryptos, it will expand the market even more. It will come closer to fiat currencies with its usage and purpose.

[bkbirge]

Banks and governments accepting cryptocurrency as a mode of payment is fine as long as they don't regulate it. The technology of the blockchain is improving that it will be able to provide the security that we all want.

Of course they will regulate it. The crypto space won't be allowed to regulate itself. Not until the bankers get their hooks in it, then they will regulate it by lobbying politicians so it seems gov't is regulating it but in reality it's the power players in the financial industry that are really making the rules. As it has been so it shall be.

[thesmallgod]

more acceptance less fud and more positive news which in turn means rise in price. the government always want to have dominion over anything which have influence on the economy of the country and this is the reason why governments might not want to accept crypto except they have control over its usability. However you may want to believe me that the reason while there has been negative news about the crypto is partly due to the generally acceptability of the coin. infact 80% of people that write negative news about crypto doesnt even know how it works

[sidodadii]

problem for people is when they want to make kyc in every movement. bitcoin is anonimous, but if government totality handle it, it cant be anonimous again, because they never want to missed by people. you know that many people only take profit than use it as technology.

[KingScorpio]

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.

western banks and governments are doomed, even if bitcoin will collapse what is likely, they will end up being communists, thats what their once sworn enemy (soviet union) was and they wont be able to get the same power and support the soviet union had within its own population to stay stable for 70 years

[sublime5447]

Yes, it does matter. Many positive effects if the government begins to accept cryptocurrencies. The first one is the increase in foreign exchange. Singapore for example, they set their tax laws apart. Lots of people will invest their money in bitcoin. I personally think it would be better for many countries to legalize cryptocurrencies. The blockchain itself is the safest system at the moment. How fast the economic growth will be when foreign investors transacting using bitcoin in a country.

[Xiroartoni]

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.

Banks and the government are beginning to understand that if they do not come up with how to join the crypto movement, they will miss the opportunity to earn money. We can already see major banks buying up exchanges, governments coming up with their own digital currency, and so on. This suggests that they are afraid that they will take away money and power. And as soon as people realize that cryptocurrencies are cool and safe, they will stop going to banks. Before that, the world of crypto-currencies will change very much and we will see it not as it is now.

[PHI1618]

Of course it matters.
Let's think!
Let us assume that banks accept bitcoins or other subcoins. This will give great confidence to the markets. This is very important.
It also provides great convenience for users.