How big is the role of the government in the development of Bitcoin?

[hen cet]

In my opinion the government has very big role in the development of bitcoin. The same as with the security exchange trading that has been brought to the next level with the government promoting it and anticipate the demand from the currencies all over the world. If only the government will meddle and take charge also the bitcoin system then for sure many will going to trust the system.

In my country the government does not carry out development that can increase the use of bitcoin for the community, because in principle bitcoin is prohibited as a means of payment.
But bitcoin is not prohibited for investment because in my country bitcoin is included in futures trading. For more information, trade in bitcoin is taken from overseas sites, especially those from developed countries.

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[Fredomago]

I think this depends.

I mean there are a lot of things that the government is focussing right now, the same with our country and I don't think the development of Bitcoin is one of them. I mean they can't develop Bitcoin but they can make it legalized in the country. The only one making the development are the developers, we use it and the government legalizes it.

If there's already lots of end users the government will begin to learned and try to work with it, might be legalizing the system or try to regulate and
have a full control, assurance will be ranted if the government will legalize the system without interfering the whole process.

[bustedsynx]

There is no question that there is a big and important role of government for the existence of Bitcoin, especially the United States. Just follow up the Huawei case. The US instructed US companies to stop dealing with Huawei. Google obliged and will block Huawei phones to Google apps. Imagine the US government going all-out war against Bitcoin.

[Xising]

I witnessed in my country form last crypto ban ( Crypto currency became not legal tender currency anymore) . Then After i have seen lots of depreciation in market . Couldn't able to sell most of my holding . Even government started to harass crypto companies . I think government also plays major role like community . I think both plays equal role community as well as Government .

That's true, I somewhat had the same situation in my country. I think a government's role in the proliferation of cryptocurrencies in a country largely depends on its governments together with the big and trusted business that are the primary movers in one locale. I say that because a government moves and, at times, controls the mindset and thinking of people in their locality about how people should view and take on some business ventures, and that includes on their dealings with cryptocurrency. In many countries before, if their government would show some disapproval and doubts on using cryptocurrencies, many people have viewed it as somewhat a negative imagery, thus, affecting their acceptance of doing business with it. However, on the other hand, if a government openly supports cryptocurrencies, then it's a big boost for the market to be recognized in that country.

[HiBlocks]

Obama once said this about Bitcoin..... "its like having a Swiss bank account in your pocket"....he is correct.  Since Banks are already in bed with many governments, Banks will never allow for a government to embrace Bitcoin. 

[BL46K 7193R]

The government's role in the development of bitcoins is very important. If the government of a country does not accept Bitcoin for that country, Bitcoin can not operate the country legally. Also, a country's government can contribute a lot to Bitcoin development. Bitcoin makes it easy to use, helps to increase acceptability etc. If the government wants Bitcoin can take many effective steps for it to play a big role in the development of Bitcoin.

[olamidey]

A major way for bitcoin to be globally accepted is if governments all around the world accept bitcoin and create regulations and laws guiding it's practices. This way, more people will be able to openly buy and sell bitcoin and other cryptocurrencies without fear of arrest or detention. Untill then, bitcoin will still be treated as scam and fake money in those countries

[MFahad]

I think so too, the role of the government is very crucial at the price of bitcoin because, if the government approves other bitcoin or crypto then that is good news

Exactly, if government approve bitcoin in country, then bitcoin price will be reached too much, just like in Iran, Iran's government approve the bitcoin and then you can see bitcoin price in Iran is highest, it is $26000. That's why some government not accept bitcoin in their countries, because they can't control bitcoin price. 

[Duzter]

I think so too, the role of the government is very crucial at the price of bitcoin because, if the government approves other bitcoin or crypto then that is good news

Exactly, if government approve bitcoin in country, then bitcoin price will be reached too much, just like in Iran, Iran's government approve the bitcoin and then you can see bitcoin price in Iran is highest, it is $26000. That's why some government not accept bitcoin in their countries, because they can't control bitcoin price. 

Very few countries around the world have given the legal support, and what we see with Iran is an exception. Once such a kind of price difference between the rest of the world and India took place which is purely on the sudden increase in the demand. Same time government that has accepted and adopted in the right way have helped with positive growth of bitcoin and has helped people know about cryptocurrencies.

[Bulgarianhawk]

Let's think about what governments can:

1) make btc legal and claim it publicly
2) buy btc as as internal reserve (which will be very wise)
3) introduce cryptos in governmental systems
4) make cryptos non-taxed

Or government can come up with its own crypto and try to promote it as internal currency. That would also be a great option for the government, as they would be able to control the inflation/deflation rate. To be honest, separate cryptos for separate countries seem much more likely than one global currency in the next decades.

[Dontme]

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
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What do you think, the Government or the community who play an important role in the development of Bitcoin?!

I think government accepting bitcoin won`t gonna happen because bitcoin is decentralized, so, bitcoin will lost its independence and the government will make rules about bitcoin. After all bitcoin don`t tax and surely when government controls bitcoin, tax will come with it.

[Artemis3]

There is no question that there is a big and important role of government for the existence of Bitcoin, especially the United States. Just follow up the Huawei case. The US instructed US companies to stop dealing with Huawei. Google obliged and will block Huawei phones to Google apps. Imagine the US government going all-out war against Bitcoin.

It would go underground but people would keep using it. Worse, they will lose any chance of regulation, since anyone involved would be going against the law anyway. There is no physical bitcoin company, there are developers, but like the past, Americans would simply stop getting involved or move elsewhere, or work anonymously.

China has long used a sort of Play store clone that hasn't seen much use abroad, maybe now Huawei will bundle this for all their markets. Basically has all google apps plus a few more used in China. This is a lost battle.

BTW: I have a cdma Huawei feature phone from 2007, its on its original battery too. And yes, its working. Talk about quality...

[FlightyPouch]

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

I think government accepting bitcoin won`t gonna happen because bitcoin is decentralized, so, bitcoin will lost its independence and the government will make rules about bitcoin. After all bitcoin don`t tax and surely when government controls bitcoin, tax will come with it.

Well if they want to tax Bitcoin, that will depend to people whether they will be using it or not. But right now I don't think that will be a thing since most of the countries don't mind while others do not want Bitcoin in their country. I don't mind them making rules about it as long as we can use it in our country.

[SirLancelot]

Obama once said this about Bitcoin..... "its like having a Swiss bank account in your pocket"....he is correct.  Since Banks are already in bed with many governments, Banks will never allow for a government to embrace Bitcoin. 

That actually makes sense. Bitcoins can be compared to Swiss banks as the similarities between both of them has some kind of match. Peoples store then excess funds in Swiss bank and so is been followed with bitcoins. As long as I know, there is not limit and restrictions to use our money in the Swiss bank which is followed by bitcoins. governments from each country might be knowing the benefits behind bitcoins but they are much wise and they would never let decentralized system ruin their centralized payment system. Surveys state that if bitcoins are legalized, they would minimize upto 60% of the fiat currency trades which would not at all be profitable for the governments.

[fiulpro]

Government is something that can actually make or break Bitcoins , since you already know in places where Bitcoins is banned the government really doesn't allow any trade regarding it thus people cannot use it for any purpose and we loose a part of traders and holders .
If government integrate themselves with Bitcoins and cryptocurrencies then people start trusting it and thinking yes it is not a fraud , and even the conservative ones starts getting confident about indulging in it.
Therefore government is the most important factor when it comes to the Bitcoins related to a particular country , they don't control it but at the same time they control the people who wants to trade in them.

[Kiefner]

Yes, the government plays a role in the development of bitcoin. When a country accepts bitcoin, it expands its capabilities and people treat bitcoin differently. They begin to understand that there is no threat and that their government supports bitcoin. And it certainly has a very good effect on him.

[val8890]

The government plays a huge role in the development of Bitcoin, which affects its success or decline, as well as the entire cryptocurrency market entirely, the quality and level of cryptocurrency depends on it

[adzino]

The Government does play a big role in the development of Bitcoin. Unfortunately, most of the government in the world aren't crypto friendly enough. There are people out there that trusts the government with their full heart. Now if the government accepts crypto currencies in their country, people of that country will get a better understanding and more freedom in using crypto currencies. This in turn will increase the adaption of crypto currencies which will help in future development.

[kingpin4321]

Yes the OP is correct about this the government if in cooperation has a huge part to play in bitcoin development and acceptability.
The government involvement would trigger a big encourage to citizens of that particular locality to get involved in cryptocurrency

[guoyu78]

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

Anytime you heard the prediction of bitcoins to over $100k then never think that it is impossible. If the government from each nation starts supporting bitcoins then I am sure that even $100k would be reached. The centralized government plays a important role behind the development and growth of bitcoins.

Until now, bitcoins are not treated as a legal mean of payment which makes a lot of community lack their faith in bitcoins but you surely can imagine what would happen if each of the government declares that bitcoins are a legal mean of transaction and all blockchain activities should be considered legal. That day itself bitcoins would take a huge boost and more and more peoples would continue getting into the blockchain technology.