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

[aad140386]

I also agree with you that the state directly affects the development of bitcoin. This is especially true of large developed countries that occupy a significant share in the global economy. If developed countries develop legislation in which Bitcoin will be equal to other currencies and there will be a clear mechanism for the interaction of Bitcoin with the existing financial system, then Bitcoin will wait for inevitable success. And then, it is likely that the predictions of John McAfee will come true and he will not have to eat his penis.

[Little Mouse]

If any government wants to contribute in cryptocurrency, that will not be anymore decentralized and we will again force to be the slave of government. Govt will try to controll everything in that case.

[Falgorn]

Bitcoin or another decentralized currency can exist in society without state participation, however, their development and use of cryptocurrency as a means of payment will be extremely low. in order for Bitcoin and other cryptocurrency to develop, mandatory mandatory legalization of cryptocurrency is needed by states. only when government agencies, including the banking and tax authorities, receive clear instructions on how to implement and use cryptocurrency, will the infrastructure appear for the practical use of cryptocurrency as a means of payment. business structures will massively use cryptocurrency only if it is approved by tax authorities and other regulatory agencies.

[Carrelmae10]

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 both of the two factors,,the community and the Government plays an important role in the development of bitcoin..Community.people who engage in the use of Bitcoin have the most important part in the develooment of it,,without the community and the people who uses it,Bitcoin is useless..Government.if the state will going to adopt and legalized the use of Bitcoin,then the mandate on the use of Bitcoin will increase in volume because many preoole are now patronizing the use of Bitcoin in their lives,but there are still consequenses when Government will take part on crypto usage because crypto is decentralize,if Government will involve, maybe decentralize exchange will now become centralize.

[Harlot]

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!

What do you think, the Government or the community who play an important role in the development of Bitcoin?!

It's not that easy as you think just by merely announcing that your country will support cryptocurrencies is way different if the government has really done anything to do with it. We have seen it in the past, a government will announce big project or give promises only to find out that there are actually no real developments backing it up. For the "development" to take place the government needs to really show the support physically by action and not only words coming out from their mouth.

[sunsilk]

Definitely! they do play an important role for the growth and acceptance of bitcoin in a country. Citizens will listen and follow their orders instead of people and society that they aren't aware of its existence.

Community and gov't both plays an important role. We as part of the community are the ones who have been using, dealing and looking for solutions on how can bitcoin be used in so many ways. And once the gov't recognizes it, they don't have to regulate, they just have to support and tell their stand about it, positively.

[eagle10]

Bitcoin has become bitcoin without government. Now that it has become popular, little by little it is being recognized in many parts of the world but many countries, altho they recognize bitcoin already, still refuse to accept to legalize it or not or if to regulate them is good for them or not. Governments are still confused if they are ready to embrace bitcoin to start cashless society because of the banking system involving in the government society.

[thesmallgod]

Government can play important role in the development of bitcoin by introduce or making policies that increase the general acceptability of the cryptocurrency. For example, Banks are control by the Central Banks which is own by the Government. Central  bank can make policy that sees all the bank trading and exchanging fiat for crypto and vice versa. This mean that many people will have privileges to obtain even loan with low interest and also make transaction easily.

[Bonsaiav]

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?!

At present bitcoin has become widely known, but its existence still clashes with regulations made by the government. So, if the government takes part in the development of bitcoin, for example by announcing that official bitcoin's legalized in its use, I think large-scale adoption will definitely happen everywhere.

[senin]

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!

What do you think, the Government or the community who play an important role in the development of Bitcoin?!

It's not that easy as you think just by merely announcing that your country will support cryptocurrencies is way different if the government has really done anything to do with it. We have seen it in the past, a government will announce big project or give promises only to find out that there are actually no real developments backing it up. For the "development" to take place the government needs to really show the support physically by action and not only words coming out from their mouth.

No government will actively support a decentralized cryptocurrency. It simply does not need it. Moreover, such a cryptocurrency is contrary to the functions of the government. It will allow the circulation of cryptocurrency under pressure from people, but it will not actively support it with various measures. On the contrary, over time, it will try to limit its circulation by introducing more and more new rules.

[Teawhalee]

To think of it critically , government will do a lot in further development of bitcoin by legalizing its acceptance in the country. This will make a lot of people involved in it , it will increase its usage , acceptance and exposure. This is one of the major movement that will make bitcoin soar high to reach its goal.

[romero121]

Legality easily attracts more people get into the usage of bitcoin as well other cryptocurrencies. The governments should not collapse the decentralized functioning of bitcoin and should provide legality. If that happens growth will be very big, even with few countries legal acceptance of bitcoin it has reached high. When majority does the same the growth will be promising.

[Indrawan77]

Somehow the bitcoin need the legality from the government, so government now play important part for bitcoin to grow, without the permit we can't make mass adoption come true, and without the mass adoption the bitcoin couldn't grow become bigger, the legality also could increase the trust from investors

[Dudeperfect]

Well, I believe that most of the governments have their policies regarding extreme control especially on the financial sector of those respective countries. However, there are some countries like Australia where students are exploring cryptocurrency and blockchain technology in their academic curriculum itself.  I honestly believe that governments should look at this technology in a positive way and ensure the best application of it in order to improve the domestic economy as well as international relations.

[South Park]

TBH if government is accepting crypto it doesn't make any difference for the crypto community. But different kind of bans may easily create FUD. Many countries are not banning cryptocurrencies and organizations are free to accept it but no one really cares about that and crypto payments are not really popular.
The only thing that matters is a legal infrastructure to the already existing capital, which we can see in Bakkt. The rest doesn't matter.

Some governments can afford to not care about bitcoin as a way of payment because compared to must currencies and payment methods bitcoin is still very small, but the technology of bitcoin is so good that it is almost impossible it is going to remain that way for long and by the time they show an interest in trying to stop bitcoin it will be too late, it is likely that at that point we will see many countries banning bitcoin transactions but even that will not be enough to stop bitcoin.

[KennyR]

Governments have a very big role in the growth of bitcoin, because they are in the role to give legal support to bitcoin usage. When there is legal support from government without any interfering into the decentralized functioning growth will be good, also this way of support is good enough to get some tax on the transactions made using cryptocurrencies.

[gilangIDR]

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?!

The government certainly has enormous authority in determining the direction of the future of bitcoin. The government can decide to accept and prohibit the use of Bitcoin. When Bitcoin can be accepted by the government, it is very likely that the price of Bitcoin will increase and when Bitcoin is banned by the government it can make Bitcoin decline. it is a systematic thing and the Government has an important role that cannot be eliminated. Government support for Bitcoin will determine the direction of the future.

[DoublerHunter]

Every country has a different perception of bitcoin by their government, just like what happens in my country and luckily they recognized bitcoin as a digital currency and it might be alternate use to our local currency. It has a big impact on the development of Bitcoin to have a friendly government on bitcoin because it will cause mass adoption on bitcoin. However, sad to say that not all countries are the same thinking on Bitcoin.

[LeGaulois]

We do not need governments for Bitcoin's evolution. For about ten years now, the ecosystem has been able to create and develop itself without the help of any government or other institution.

In terms of adoption, yes, it would indeed help Bitcoin to be used more and more, but we can do it without it. It's just a matter of time, you don't let yourself be overwhelmed by the fact that all these regulations help Bitcoin because it's not true, it's actually the opposite.

If we build a decentralized environment, whether, in the form of currency or something else, it is not to let in those for whom we are trying to get rid of.

[bering]

The answers of questions this thread already answered by OP himself that government have important role to determine development of bitcoin in the those countries because if government act positive or legalize crypto then the people on those countries will starting to use bitcoin with eventually bitcoin are more and more popular and it will have positive impact to all of bitcoin users in the world