Why are the world’s governments not using cryptocurrencies?

[gweedo]

Because cryptocurrencies are not going to benefit the government, the government will not be able to collect taxes if their country accepts cryptocurrency and makes it a payment method. In addition, Fiat is a representative of a country, so cryptocurrency will never be able to replace Fiat

[1714952069]

1714952069

[suvo05]

The simple cause when you are the owner of a cryptocurrency then only you have the access to it.  In case of fiat when you save your money in a bank, then both you and bank have the access to it. They are giving you some interest to you because they are making a higher profit using your money and interest is a small part of that profit. So a bank is accumulating huge money from all the people and investing it or giving loans to others. So there is a recycling of money by the bank controlled by the government. Now in the case of cryptocurrencies, you are the only owner of your money so there is a possibility of less recycling of money or independent recycling by individuals. So there might be a huge difference in the economy that Gov would have very little control over.

[Pearls Before Swine]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world

You may have learned that, but perhaps you haven't learned how many cryptocurrencies there are on the market and how most of them are of such low quality that they're practically worthless.  And there is also the issue of volatility, and it's a big one.

Governments would be ill advised to hold even bitcoin in reserve.  What would happen if a gov't bought it at $13,000 this year and held it?  They obviously would have lost a lot of money on paper, and I can guarantee you that the people of that govt's country would be very upset.  That's probably the main reason why they don't, and another reason is that bitcoin is just too new and isn't well understood by politicians.

[sapnu]

I’ve recently learned the many advantages of cryptocurrencies and how they can revolutionize the way we use money around the world

You may have learned that, but perhaps you haven't learned how many cryptocurrencies there are on the market and how most of them are of such low quality that they're practically worthless.  And there is also the issue of volatility, and it's a big one.

Governments would be ill-advised to hold even bitcoin in reserve.  What would happen if a gov't bought it at $13,000 this year and held it?  They obviously would have lost a lot of money on paper, and I can guarantee you that the people of that govt's country would be very upset.  That's probably the main reason why they don't, and another reason is that bitcoin is just too new and isn't well understood by politicians.

Maybe not all governments are not using it, maybe some of them are also using it. I know some people with a position in the senate really come using cryptocurrency and even create their own token with his own money because he is rich, he is a billionaire. I can say that a different person has a different perspective on cryptocurrency. We all know that cryptocurrency is better to use than fiat, it has advantages in different terms such as payment method wherein you can make a transaction when you are buying making transactions faster than paying with fiat.

[Sahyadri]

Who said governments are not using cryptos. In some countries government backed cryptos are already in existence and in some it is in the process of creation. Government might not support decentralized cryptocurrency like bitcoin but is not really against the blockchain technology or creating a cryptocurrency of their own. The advantages you listed is the sole reason these governments are venturing into cryptos. If it goes successful, they might altogether shift to cryptos in coming years from fiat.

[danherbias07]

The simple truth is that, they believe the jurisdiction of money should be what is under their control. Money is a huge manipulating factor and so, since cryptocurrency is not controllable, they might keep running away from it for a long time.

Wise answer. Merit.

Yeah, if they lose control then so does the rich people.
This world cannot be equal and it will never will or else there will be no one to work for food or serve them.
That is just the effect of using crypto currencies specially bitcoin.

Us, with transparency only in our transaction but never with how much do we really have. There is no information of who the owner here unless I tell it to you.
They don't like that kind of idea.

[clickerz]

Because cryptocurrencies are not going to benefit the government, the government will not be able to collect taxes if their country accepts cryptocurrency and makes it a payment method. In addition, Fiat is a representative of a country, so cryptocurrency will never be able to replace Fiat

Better for the government to issue its own cryptocurrency. Actually some government is starting to issue their own cryptocurrency and some are still developing it. Previous , month China announced that they are launching their own, I hope this is just the start of the brighter future of crpto.

[kanayaTabitha]

Who said governments are not using cryptos. In some countries government backed cryptos are already in existence and in some it is in the process of creation. Government might not support decentralized cryptocurrency like bitcoin but is not really against the blockchain technology or creating a cryptocurrency of their own. The advantages you listed is the sole reason these governments are venturing into cryptos. If it goes successful, they might altogether shift to cryptos in coming years from fiat.

Most of countries are want to make their own cryptocurrency which is centralized, i don't think the people on their country want to use it because people are using cryptocurrency because of the decentralizeness, the anonymousity of cryptocurrency made cryptocurrency is really hype and used by many people. So , i think if a government make a centralized cryptocurrency i don't think it will success.

[Xxmodded]

Because cryptocurrencies are not going to benefit the government, the government will not be able to collect taxes if their country accepts cryptocurrency and makes it a payment method. In addition, Fiat is a representative of a country, so cryptocurrency will never be able to replace Fiat

Not giving distributed for government take tax from bitcoin and not allowed using crypto as legal payment transaction, maybe although bitcoin have been legal always have way to to keep our self from paying tax to government, maybe make transaction to other account and sell bitcoin or altcoin to our friend from other country.

[altcointalk14]

Government is willing to accept blockchain but not cryptocurrency. Since nobody can control the bitcoin blockchain, government can host their applications on private blockchain where they have complete control. There are very rear chances that most of governments will accept bitcoin or other cryptocurrency.

[kro55]

I think it's about preferences. Although cryptocurrency has so many benefits to offer, governments realized that they will get nothing from cryptocurrency. This rivalry between government and cryptocurrency won't end very soon.

[Realroy]

The biggest issue with government is control. bitcoin was made only to avoid any kind of interference. and if cryptos were accepted by the government they have to be centralized which is exactly the opposite of why cryptos were created in the first place.

[Xxmodded]

Bitcoin have pass ten years but still not allowed become legal currency payment around the world, many countries not use bitcoin become theri legal payment although bitcoin can get good service by sending payment with easy and instant for transfer to other wallet, just get problem when bitcoin have been banned in several country like Indian and not allowed although as investment assets.

[dimox]

if they think fiat is more profitable than crypto, they will use fiat. profitable mean, government take profit, much profit than people, and i think they happy if government richer than people. the difference makes them happy, as long as they look so great

[xiboothrezi]

~
   
Why are the governments not adopting cryptocurrencies? Is it a world-wide conspiracy by the elite in order to keep in power? Or is it that the people in charge are rather ignorant of the advantages of cryptocurrencies in order to keep the current system of power?

Such a conclusion cannot be drawn. Cryptocurrency is decentralized, mostly so, especially the most dominant and comprehensive use is bitcoin. While the government has full authority in controlling the economy, including money circulating in his country as a form of economic independence. Bitcoin has an anonymous administration, so that is one of the reasons why bitcoin cannot be adopted completely by all countries in the world. At any time I think bitcoin will only be an alternative payment, while on the other hand, its function as an investment tool and commodity trading will be maximized.

[btcfaucet.de]

With a modern fiat financial system, the state can charge taxes automatically. It’s hard for me to imagine such a system based on Bitcoin that will allow to do this. In addition, it needs to be built, and it will take more than 5 years.

Maybe you r right, just coz they don't want to build a new system based on crypto. And guys, why they will do this?
I think they will start only in case crypto will become global and they will not be able to prevent the evolution of money.

[henrybek3]

There is a monetary system that has been developing for centuries. Today, the world is economically ruled by certain centers. The transition to the new economic model is not easy. Because this means they lose control over the system. Bitcoin may be the key to the new economy.

[Polar91]

Who said governments are not using cryptos. In some countries government backed cryptos are already in existence and in some it is in the process of creation. Government might not support decentralized cryptocurrency like bitcoin but is not really against the blockchain technology or creating a cryptocurrency of their own. The advantages you listed is the sole reason these governments are venturing into cryptos. If it goes successful, they might altogether shift to cryptos in coming years from fiat.

Tracing back to the history of financial system. If we are to think about who started using the system of trading using money, it is not the government that really started trading, it is by the people who are travelling and meeting other in the foreign lands, and in fact, they've just decided to have a unifying currency when they realize they need it for unity. But before that there is a currency already.

What this means is that, as long as government aren't prohibiting us in using cryptocurrency, it will be a way for the transition, we all know that a revolution is effective when there is many supporters. As long as our numbers are multiplying, no government could stop it but to accept it, still, we are bound to their responsibility of regulating it.

[malekbaba]

Central bank issues or destroy funds and government approve the action and exert financial influence. Government likes fiat currency. Cause they can trace the  action of individual, who is sending money to whom, whether the person is paying taxes or not, whether anyone is involved into any criminal act or not. Government will have no control over those money. There are some other reason also and government like fiat instead of crypto

[Spaffin]

I always have different thoughts on this subject to explain the situation Why governments do not want to use cryptocurrency.  One of these explanations for this situation is to protect their citizens from possible losses that they cannot affect.  As always, people try to earn a lot of money, while not making any effort.  Of course, the cryptocurrency market conceals very great opportunities to become a rich person, but no less dangers are hidden here.  The cryptocurrency is unstable and because of the huge risk, the government does not want to take risks about this.