Government+cryptocurrencies

[fiulpro]

There have always been unfair war against government and cryptocurrencies , unfortunately now it's a time when people are realizing that the governmental authority is not only unequipped to handle crisis but it is also unfair for the common man .
 
The country I belong to has a very popular saying Only the money speaks here .

I do think the solution to collapsing economic situation in every country might be cryptocurrencies. But that would also need full support of the government and the banks , this is not the situation when they can continue to fight over who is better , I do think they should move forward and coexist.  

We are well aware of the crisis in Venezuela, what gave people hope ? What gave them power to overthrow the government ?
https://www.cnbc.com/2019/02/14/venezuela-crisis-bitcoin-trading-volumes-hit-an-all-time-high-.html

Why does the Indian government want to ban cryptocurrencies when their own economic situation is dire and it's providing jobs and opportunities to other people.
https://news.bitcoin.com/indias-crypto-trading-volume-soars-economic-crisis/

According to the source

72% of all Bitcoin trading happened in the top five countries: USA, Russia, UK, Venezuela, and China

The Bitcoin revolution in Nigeria is something that everyone knows about. There are so many examples to state but not enough words.

Every single country in the top 5 lists have crisis one way or the other . Alone in UK the GDP fell by 20.4% in April 2020.

People are exploring all their options here , even though there was a downtrend for most currencies , Bitcoins and other cryptocurrencies stayed more or so stable.

Coexisting with the cryptocurrencies will not only make the economic situation of the country stronger , it will also give power to people which the current system is not fond of , it can be a win win situation for both sides.

I am aware of the fact that most of the countries are trying to figure out a way to make digital dollar but labelling them as cryptocurrencies is so wrong !

Cryptocurrencies are supposed to be free from third party , they need to be a direct link between 2 parties at the same time there is always the issue of privacy , what the government is doing is no different than the fox in the The Red Riding Hood , they might seem harmless in the shape of cryptocurrencies but at the end they are nothing but Fiat 2.0.

To make our economy stronger we need Government to give full support to cryptocurrencies

Please share your thoughts~

(image taken directly from Google)

[1714992790]

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[1714992790]

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[davis196]

To make our economy stronger we need Government to give full support to cryptocurrencies

How is that going to happen?We don't have the power to control our governments
The only way is to vote and help for electing politicians that are cryptocurrency-friendly.I can't see this happening.
The Governments and central banks will never fully adopt cryptocurrenices,because:
1.Cryptocurrencies are making tax evasion easier.
2.Central banks will lose control over the monetary supply.
3.Governments will lose the "inflation tax" extra revenue.
There are more reasons on the list,but this topic has been discussed before,so there's no point of starting it again.

[fiulpro]

To make our economy stronger we need Government to give full support to cryptocurrencies

How is that going to happen?We don't have the power to control our governments
The only way is to vote and help for electing politicians that are cryptocurrency-friendly.I can't see this happening.
The Governments and central banks will never fully adopt cryptocurrenices,because:
1.Cryptocurrencies are making tax evasion easier.
2.Central banks will lose control over the monetary supply.
3.Governments will lose the "inflation tax" extra revenue.
There are more reasons on the list,but this topic has been discussed before,so there's no point of starting it again.

I do think one should understand that :
We do have full control of out governments.

The government is from the people , to the people and for the people , but we tend to forget that , we have to speak up , to ask what we need , to elect those people who are interested in new solutions.

There is a reason to start this topic again ! We cannot forget this , we do have full power to make things considerable easy for the common man and not just the people with power. We should realize that we have the right to speak up , to complain in the court if we ever see something that is not done right .

How can we do that ?
- We can start educating our friends and families about cryptocurrencies
- We can go and Vote
- We can file a petition against the government if they tried to ban the cryptocurrencies

There are a lot of things that we can do. I do think this is more of a time when we should bring this topic up again since elections are right around the corner .

Plus with KYC and all , people are paying more tax than they should on cryptocurrencies.

Central Banks should never have the control over the whole supply , they are here to help , not to dominate the market!

[sunsilk]

My take on this is that we will see it in the future, the coexistence of government, banks and cryptocurrencies. As the normal saying goes about beating, they'll join if they have no choice anymore. We're starting to see that there's equilibrium for most countries that started regulating it or no reaction at all but is ok with it and, those that don't like it or likely to ban it are not that many.

And for those countries that are going to label their digital local money as cryptocurrencies, they can do that as they wish but it won't change the fact that we know what cryptocurrencies really are.

[el kaka22]

Honestly I do not see that type of war against crypto by the governments. They are making it more legal nowadays and truth be told huge corporations get into it as well, if not crypto at least blockchain and that means that these are the people who bribe politicians that will go into that type of situation.

This is why I think it is quite important that we realize there is an opportunity here for the small investors as well, if you take that into consideration and you manage to make it something like a way to make some income from it like those big ones are making, that means you would be capable of doing what the big ones that bribe politicians for without spending any money of your own to get governments leave you alone. That is at least what I think is going on, maybe I am wrong who knows.

[dothebeats]

Governments are slowly acknowledging the fact that cryptocurrencies will continue to exist and there are already a lot of users that are using it. Due to that, they are becoming more and more lenient to cryptocurrencies, and I think that leniency will develop over time as the number of users for cryptocurrencies reach a huge number. They aren't blind on our situation here and they sure are watching the development of cryptocurrencies (though not very closely), and for sure they are already building strategies as to how would they tackle regulations systematically.

I do think one should understand that :
We do have full control of out governments.

The government is from the people , to the people and for the people , but we tend to forget that , we have to speak up , to ask what we need , to elect those people who are interested in new solutions.

North Korea, China and Russia would love to have a word with you.

You do realize that even today, there are communist countries that are dominated by the government by showing a little hint of fascism on their way of governing?

[Coyster]

To make our economy stronger we need Government to give full support to cryptocurrencies

Government support to cryptocurrency will not revive the economy, we've seen governments printing more money (fiat) this period and giving them out as stimulus to citizens to aid them due to the covid-19 pandemic, that is the currency they can print, it's the currency their actions can cause inflation on. They can stimulate the economy by also opening businesses and generating more cash inflow, this are just a few things and there are plethora of other things they can do with their fiat to speed up economic recovery, because they have the control.

But bitcoin the govt cannot control and we've literally discussed it many times before they can only ban it, and control it in their country but not the price, volume, market cap, etc. The government cannot use bitcoin to make the economy strong again because they cannot act as a third party in it. I'd only vote for govt support for the sake of enthusiasts in countries where it's banned, they the citizens should have freedom to use it like we do.

[LeGaulois]

Governments can't support cryptocurrencies because it is against the morale of a state where everything must have rules defined by it, controlled by it and a currency created by it.
Cryptocurrencies being stateless it doesn't go well with a state.


But do we need government support? I think not, as long we have a need for BTC, in our daily life, we participate in creating an economy, we don't need approval or support.

[hulla]

I am aware of the fact that most of the countries are trying to figure out a way to make digital dollar but labelling them as cryptocurrencies is so wrong !

The reason some government decide to create their own digital currency was because of the IMF boss previous statement about crypto to be liberty but they choose to create a fiat backed digital currency just to hype people with insufficient knowledge cause they only planned hype people.

To make our economy stronger we need Government to give full support to cryptocurrencies

Thats correct and i think the government understand this but they dont like the role of crypto being free from third party which the reason most government officials said negative things about bitcoin and later say positive things about it after the left the office.

[Wexnident]

The solution right now is to implement more industrial activities somehow to improve the employment rate, as well as supporting domestic production for those that largely rely on foreign relationships. Plus, with how things are right now, you're pretty much saying that the solution for the economic crisis is trading of cryptocurrencies. Still, an investment, when it's supposed to be used as a currency. Additionally, even if countries support crypto as an investment, they'd basically be taking money from each other, one way or another, someone would be losing in this parade.

The economic situation would only improve if the government is able to successfully stimulate the economy, using their Fiat. Crypto itself afaik has no particular effect on stimulating the economy of a country. The stimulus package failed to improve the current situation because it failed to elicit the response that the government wanted.

[Yaunfitda]

Governments can't support cryptocurrencies because it is against the morale of a state where everything must have rules defined by it, controlled by it and a currency created by it.
Cryptocurrencies being stateless it doesn't go well with a state.

Exactly, government in any way or form are going to oppose crypto, whether we like it or not. We have seen the attacks or at least try to curb and control ever since 2017.

But do we need government support? I think not, as long we have a need for BTC, in our daily life, we participate in creating an economy, we don't need approval or support.

It's debatable, some countries are very friendly, some are hostile, and there is the middle ground, they do support but with hard line stance regulations. As far as bitcoiners, you're lucky if you live in a country when your government has full support. But for those who aren't as lucky, I think you can still be a bitcoiners, but you have to be very careful.

[Baofeng]

As much as we love to hear this kind of idea, I don't think that this will be the short term solution for now. Crypto is somewhat divided as form of investment and or store of value, neither can really solved the problem the we are facing.

On the bright side, it could help on a certain help, but to consider this as like a magic bean to really turn one countries economy if they full support it? I doubt it, government right now really needs to find a way to get back their economy in this pandemic.

[Latviand]

Governments can't support cryptocurrencies because it is against the morale of a state where everything must have rules defined by it, controlled by it and a currency created by it.
Cryptocurrencies being stateless it doesn't go well with a state.

That's because probably it will just cause a huge conflict in the market and in the country if government will interrupt those people who are using bitcoin peacefully.

But do we need government support? I think not, as long we have a need for BTC, in our daily life, we participate in creating an economy, we don't need approval or support.

Governments will surely just benefit our cryptocurrency from their taxes so it is much better for them to let us mind our own businesses.

Little did they know that bitcoin can help a poor people grow in life, not only financially, but as a human being with prior knowledge about the market and economy. They are already benefiting our crypto from the form of taxes that they are getting in an exchange and that's enough for them.

[abhiseshakana]

I do think the solution to collapsing economic situation in every country might be cryptocurrencies. But that would also need full support of the government and the banks , this is not the situation when they can continue to fight over who is better , I do think they should move forward and coexist.

How can cryptocurrency be a solution for a collapsing economy? Based on what indicators do you have such a hypothesis? The economy is very complex, while cryptocurrency is only a tool for driving the economy. The use of an algorithm can indeed minimize manipulation but for a centralized system, the system maker can still intervene.

We are well aware of the crisis in Venezuela, what gave people hope ? What gave them power to overthrow the government ?

Venezuela does not choose to use bitcoin, but rather because (TINA) There is no alternative to Venezuela other than adopting bitcoin. The adoption of bitcoin did not become a solution for Venezuela because in the end, Maduro admitted that Venezuela needed dollars to maintain economic and political stability. Venezuela relies on oil exports for income and relies on imports for its country's needs. What can cryptocurrency do when oil prices fall or to reduce import dependency.

Why does the Indian government want to ban cryptocurrencies when their own economic situation is dire and it's providing jobs and opportunities to other people.

The volume of bitcoin or cryptocurrency traded is indeed high in India, but the foundation of the non-real sector cannot be used as a reference in the real sector. What India needs now is development and growth in the real sector. Precisely if the value of crypto trade is large but economic conditions remain weak it can be said that cryptocurrency has no influence regardless of whether the government legalizes it or not. Is there a guarantee that if the government legalizes cryptocurrency, the real sector will grow as fast as the movement in the cryptocurrency trading market.

Cryptocurrencies are supposed to be free from third party , they need to be a direct link between 2 parties at the same time there is always the issue of privacy , what the government is doing is no different than the fox in the The Red Riding Hood , they might seem harmless in the shape of cryptocurrencies but at the end they are nothing but Fiat 2.0.

The main purpose of bitcoin is to eliminate the role of third parties. So in a decentralized economy, the functions of banks should change from profit-oriented to service-oriented. Bank practices that historically created bank interest, created fiat, and created investments in the non-real sector. Is the cause of the bubble economy, the exploitation of natural and human resources by a group of people, and also the world's welfare gap. The government actually considers banks to be very important and protected by the government. Banks are considered the mainstay of the country's economy.

[TheUltraElite]

Unfair war? Possible from our point of view. Because we often dont see both sides of the "coin" and tend to traffic one sided opinions in delusional manner.

Governments have a lot of work at hand. Similarly when you have work at hand which are having more priority and someone is hammering you to do something else of less priority, what would be your situation? Same with the governments here.

Of course to the person who needs something, this seems "Unfair" that their reason is being given less priority but it is what is true.

Many countries have allowed the use of crypto like North American countries, so I am very optimistic about the future in the Indian subcontinent too. We will get more governments accepting bitcoin usage as per their people needs but it will take time.

[fiulpro]

Governments are slowly acknowledging the fact that cryptocurrencies will continue to exist and there are already a lot of users that are using it. Due to that, they are becoming more and more lenient to cryptocurrencies, and I think that leniency will develop over time as the number of users for cryptocurrencies reach a huge number. They aren't blind on our situation here and they sure are watching the development of cryptocurrencies (though not very closely), and for sure they are already building strategies as to how would they tackle regulations systematically.

I do think one should understand that :
We do have full control of out governments.

The government is from the people , to the people and for the people , but we tend to forget that , we have to speak up , to ask what we need , to elect those people who are interested in new solutions.

North Korea, China and Russia would love to have a word with you.

You do realize that even today, there are communist countries that are dominated by the government by showing a little hint of fascism on their way of governing?

A little civics lesson :
The government we are talking about is Democratic parties , I do think you should have understood that by now.

China and North Korea I consider lost cases, they have been torturing their citizens , the news of government oppression is everywhere , it's not a government it's a joke.

I do not think even for a second that any governmental except *Democracy* is considered government.
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Plus , how it can be a solution :

We can directly scrap out the middle man both in terms of selling goods and both in terms of receiving payment , which would mean that the benefits are going directly to the farmers or common man who is working day and night .
I went to the factories near my house and they paid not even 1 Rs to the workers to make a mask of 40 RS , therefore what it means is that all this profit or 39 Rs is going in the pockets of rich who have 1000 factories like this .
If they start accepting payment in Bitcoins for example , no one would question them , they won't have any problems with the government and bank too if the selling volume runs high. At the same time it will make the market better for them , considering they encash after timely intervals.
People can also sell things internationally since with Bitcoins we don't have to pay this fee , that fee , currency conversion fee. One can literally take their business internationally if they want to. It was just an example but there are many more ... You can use Bitcoins and other cryptocurrencies in the way you want to use them.
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Plus talking about the unfair war , what's unfair is banning cryptocurrencies overnight and giving people a small time period to sell their Bitcoins , people are encashing and having their money in their banks , then they are going to send that information to the government , from where you are going to get a tax notice which is not even reasonable. Government believes that cryptocurrencies is free money.

What unfair is forcefully taking the Mining farms in Venezuela.

Government oppression is far more worse in the developing and underdeveloped countries, some of you might be belonging to the ones where the government is good with Crypto but with most of the countries it's a very serious issue.

For government the direct definition of cryptocurrencies is : Scam.

Even right now the government of India is thinking of banning cryptocurrencies forever and going to implement a time in prison for 10 years . :3 If they do that I do think we should all at once trade our coins so that their prison cells will be filled to the brim and then they can waste their time making new ones .

It's unfair , not speaking from Google or anything am speaking from my personal experience.

[Findingnemo]

To make our economy stronger we need Government to give full support to cryptocurrencies

Not really from the government's point of view because almost every economy is working from the tax money collected by their citizen but if we have peer to peer transactions everywhere then no one will really pay the right tax amount they should pay based on their earnings.And also the government want their people under control of them all the time so we can't expect them to give us full financial freedom.

[bits4books]

This is all very fine - all these wet dreams of a world between cryptocurrency and the state. But they break down just about the confrontation between cryptocurrency users and the state machine. Put simply, it is
- crypto users want complete anonymity, security, safety, do not want to pay taxes, do not want KYC, do not want tax supervision
- the state wants to keep under control, to be able to investigate crimes, issue suspicious data, register all wallets, taxes on trading

Until these issues are not resolved, you can forget about the ubiquity of cryptocurrencies and the ability to legally (completely legally) pay for a purchase on every shop

[brightemo]

We will see futher adoption of digital fiat in the future but gov will never allow money that they coudnt fully control

[Nhor1011]

How can this happen if the government itself does not want to accept bitcoin or cryptocurrency?Yes,it could help the economic status of the country if the government have control on it but how it will happen in  decentralize cryptocurrency. Well,if not the government ,cryptocurrency can help to the people who lost their job because of pandemic if their are someone who will educate them.For example if you have a friend or neighbor that lost their job then you are going to offer crypto to them,teach them and education and for sure they will take the rest if they know already the process on joining in crypto space.

[hunter7519]

Governments around the world — including the U.S., China, Japan, Canada, Venezuela, Estonia, Sweden, and Uruguay are either actively working on some form of digital currency.

But governments have very different priorities, and decentralization a main feature of most cryptocurrenices including bitcoin doesn't tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin.

There's important differences between true cryptocurrencies and what are generally called "centralized digital currencies" (CDCs). One of the main qualities if not the central feature  of cryptocurrencies is that they're decentralized. This means no single person, government, company, or group can control them. CDCs, on the other hand, are on the opposite end of the spectrum. They are as centralized as can be.

[Mame89]

for me the government can support cryptocurrency as a legal currency. but it doesn't fully support it as an economic path. a thing for example cryptocurrency is supported by the government from my thinking .....?
-Crypto currency is indeed successful as a small part as a means of payment, which requires it to have value. and superior to fiat money in terms of security, speed, low transaction costs, easy storage and closely related to today's digital developments....
that's from the point of part of my thinking

[chip1994]

It's just your positive thinking about this issue, but you have not yet analyzed the negative factors that crypto will cause on their economy in the future. Many countries that prohibit Crypto from circulating in their country have their reasons. You see that making money in the crypto market is easy but you have not seen people suffering heavy losses. The majority of traders are losers, only whales that manipulate the market always win.

[Salauddin1994]

There are many differences between government and cryptocurrency. Crypto is decentralized and it can never be legally administered you should be able to trade Bitcoin, Litecoin or Etherium without any problems. Cryptocurrencies are characterized by high volatility and therefore have ample opportunity to make some gains.  Naturally, this has some effect but what is more important for the price of cryptos is the need of the population. So the price is controlled by the demand in the market.

[Febo]

The Governments and central banks will never fully adopt cryptocurrenices,because:
1.Cryptocurrencies are making tax evasion easier.
2.Central banks will lose control over the monetary supply.
3.Governments will lose the "inflation tax" extra revenue.
There are more reasons on the list,but this topic has been discussed before,so there's no point of starting it again.

Governments are to work for its people. Nothing what you said in favours people. It only in favours politic elites. Communities will need to collect taxes. They will simply collect them different way. tax different things as now if needed.

[abhiseshakana]

China and North Korea I consider lost cases, they have been torturing their citizens , the news of government oppression is everywhere , it's not a government it's a joke.

I do not think even for a second that any governmental except *Democracy* is considered government.

In addition to de facto and de jure, China and North Korea respect the country and have proven power to be reckoned with in world politics.

Democracy means the power of the people or people's government, by the people, for the people. But in practice democracy only creates oligarchs that fight for personal or group interests rather than the interests of the people. The practice of democracy is the practice of the interests of the majority rather than representing the interests of the people.

What is read now democracy is "just talking". Although the authoritarian system also provides experiences of suffering, but the case in China, with this system, successfully brought China into a global power. Many authoritarian leaders see democracy with doubt and inefficiency because the tendency is manipulation by individuals or groups who want to dominate.

If they start accepting payment in Bitcoins for example , no one would question them , they won't have any problems with the government and bank too if the selling volume runs high. At the same time it will make the market better for them , considering they encash after timely intervals.
People can also sell things internationally since with Bitcoins we don't have to pay this fee , that fee , currency conversion fee. One can literally take their business internationally if they want to. It was just an example but there are many more ... You can use Bitcoins and other cryptocurrencies in the way you want to use them.

Have you ever practiced this directly and personally?
Transactions using bitcoin require trust between seller or buyer or each party can ensure their rights will be fulfilled by the other party. Maybe if the transaction value of USD 1000-2000 we can think easily. But if the transaction value is USD 100,000 we will rethink using bitcoin and will choose to use a letter of credit.

When I receive payment using swift, the bank correspondence fee is only USD 38, besides that the swift system is now faster. The risk of foreign exchange loss is more acceptable than the risk of loss in bitcoin fluctuations.

[bitgolden]

I think it would be a great way for two organization that can do this. One is government, who could watch you spend all your money very closely, they would basically know where and how the money goes, in fiat world there is cash and you can't follow cash that easily (unless you give numbered marks) so at the end of the day bad guys can do whatever they want (and even good guys that government dislikes) so it is not easy to cover your money in digital currency and it will be known what you do and that is scary.

Secondly for companies, companies that care about data and user numbers instead of companies that care about selling something, the facebooks, googles, instagrams of the world and they would want (Libra) a currency that they could give to you and if you spend it on something they will send you insane amount of ads on all over the internet because of it.

[verita1]

I agree that cryptocurrencies must be accepted by governments for their correct use. The crypto community has realized that it is a digital asset that could support economies in these times of crisis and we are sure that we can provide our knowledge to our local communities for rapid adoption.

[TheUltraElite]

I agree that cryptocurrencies must be accepted by governments for their correct use.

Do you understand the consequences of that? It is bad for the governments to accept bitcoin because a lot of people are against it and it would be a highly politicized case. The ruling party would be heavily blamed for accepting something that has been used according to them as a mode of money laundering and thus seeing the biased opinions about it governments would not venture into such process if it is avoidable.

The crypto community has realized that it is a digital asset that could support economies in these times of crisis and we are sure that we can provide our knowledge to our local communities for rapid adoption.

Realized what? How many countries out there actually allow crypto on their grocery shops? Other than the North American and few first world and some third world countries, the biggest and most densely populated countries do not allow cryptocurrencies to be used. So your logic is false in the sense that it does not have any proof. Of course digital payments may have increased in frequency but that is fiat payment systems not bitcoin payment systems.

[oleg8791]

How can cryptocurrencies save the economy right now? And what do you mean saying that the government should give cryptocurrencies the full support? Switching from a traditional form of money to cryptocurrencies will be beneficial only for crypto investors.

[TimeTeller]

I agree that cryptocurrencies must be accepted by governments for their correct use.

Do you understand the consequences of that? It is bad for the governments to accept bitcoin because a lot of people are against it and it would be a highly politicized case. The ruling party would be heavily blamed for accepting something that has been used according to them as a mode of money laundering and thus seeing the biased opinions about it governments would not venture into such process if it is avoidable.

The crypto community has realized that it is a digital asset that could support economies in these times of crisis and we are sure that we can provide our knowledge to our local communities for rapid adoption.

Realized what? How many countries out there actually allow crypto on their grocery shops? Other than the North American and few first world and some third world countries, the biggest and most densely populated countries do not allow cryptocurrencies to be used. So your logic is false in the sense that it does not have any proof. Of course digital payments may have increased in frequency but that is fiat payment systems not bitcoin payment systems.

Why do you think it is bad for the government to accept crypto?
I don't think because a lot of people are against it and politics involved will be the reason why it will give bad image to the government.
If both parties will educate themselves regarding crypto and blockchain technology, I don't think they will think that crypto is only used for money laundering purposes.
Even without crypto, money laundering is everywhere. They just need to learn how to avoid potential money laundering in crypto.
There are so many benefits involved if they can just uncover the potential of crypto.

[tbterryboy]

How can cryptocurrencies save the economy right now? And what do you mean saying that the government should give cryptocurrencies the full support? Switching from a traditional form of money to cryptocurrencies will be beneficial only for crypto investors.

Please remember individual investors' betterment again build the nation's economy. If government care about individual's freedom and economic betterment then they can allow them to transact cryptocurrencies like how they allow to deal gold or investing in other countries' real estate or bonds. Government allow me to swap my rice for wheat of another farmer then why not they allow to swap my BTCs for groceries or same wheat.

All I mean, governments never need to worry or get fear of opening cryptos for their people to adopt legally. It is very similar to allowing them any property but in digital format. They might be bothering about impact of taxation but if they work on intensively they can find all possible solutions as well.

The crypto community has realized that it is a digital asset that could support economies in these times of crisis and we are sure that we can provide our knowledge to our local communities for rapid adoption.

Yes, we must need an asset which is secured against global or local crisis; it is a basic rights of every human. So, governments must realize about the real application of cryptocurencies and then must work on the way which helps its each and every individuals. Hopefully in next few years many countries may unveil their stand on cryptos.

[mersal]

How can cryptocurrencies save the economy right now? And what do you mean saying that the government should give cryptocurrencies the full support? Switching from a traditional form of money to cryptocurrencies will be beneficial only for crypto investors.

Please remember individual investors' betterment again build the nation's economy. If government care about individual's freedom and economic betterment then they can allow them to transact cryptocurrencies like how they allow to deal gold or investing in other countries' real estate or bonds. Government allow me to swap my rice for wheat of another farmer then why not they allow to swap my BTCs for groceries or same wheat.

Governments will never care about the individuals, they only build nations economy by various form of taxes, if a government really wants to help their citizen then they should reduce the tax rate for middle class people and increase it for the millionaires but they only living though the tax made from salary class people but doing all the favours for the people who is giving employment to those salary class.

[coolcoinz]

How can cryptocurrencies save the economy right now? And what do you mean saying that the government should give cryptocurrencies the full support? Switching from a traditional form of money to cryptocurrencies will be beneficial only for crypto investors.

Not really. It would be beneficial also for newcomers who are not yet into cryptocurrencies.
It of course depends on your country's political and economical situation but in general having some part of your money in Bitcoin works as a hedge against local disturbances. Bitcoin is not a hedge against world economy so if we have a world war or a global pandemic it won't help you, but if your country goes bust like Venezuela, Zimbabwe, or happens to become a warzone like Afghanistan, Crimea, you will have some emergency funds.

[Sanugarid]

Governments around the world — including the U.S., China, Japan, Canada, Venezuela, Estonia, Sweden, and Uruguay are either actively working on some form of digital currency.

But governments have very different priorities, and decentralization a main feature of most cryptocurrenices including bitcoin doesn't tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin.

Different priorities? I guess not, I think all of this ongoing trials in their own digital currencies is to combat decentralization. The government does not want things to go off their hands, they can't do that as it would just cause chaos to their land, worst in their financial structure. Now that bitcoin is emerging these past few years, it is not surprising at all that we see a lot of countries be coming to it, digital currencies is the future of currencies, we can't deny the fact that we are going to be technology reliant in the future.

There's important differences between true cryptocurrencies and what are generally called "centralized digital currencies" (CDCs). One of the main qualities if not the central feature  of cryptocurrencies is that they're decentralized. This means no single person, government, company, or group can control them. CDCs, on the other hand, are on the opposite end of the spectrum. They are as centralized as can be.

If we are govern by nothing, we would be nothing trust me. You can't just walk in the dark because you love it, we need to be centralized at some point and that's we are heading into.

[Axelseseclevz]

Government don't really want a decentralize money because they can't control it and it may cause a lot of trouble on the government and to the economy. But on the other side if the government allow and accept cryptocurrency and legalize it, im sure it is a big help to the people especially those who have no work and just stay at home. Also it will convince business establishmentvto accept bitcoin as payment for goods and services but the problem always is the volatility of bitcoin that we can't change because it was designed as investment and not store of value.

[stompix]

How can cryptocurrencies save the economy right now?

It's pretty simple
- I create a token
- You create a token
- We swap tokens
- We hodl the tokens
- We will either get rich or sarcasm will kill us 

The Bitcoin revolution in Nigeria is something that everyone knows about. There are so many examples to state but not enough words.

Yeah, too bad I've never seen any signs that would even remotely point to a "revolution"

Plus , how it can be a solution :

We can directly scrap out the middle man both in terms of selling goods and both in terms of receiving payment , which would mean that the benefits are going directly to the farmers or common man who is working day and night .

Oh yeah! Please tell me about it!

I'm pretty interested in how my family could scrap the middle man
- every week we will have to take our truck to the closest refinery and get gas or rely on the middlemen
- every week we would have to go across the country to buy corn for the pigs and the next day the other direction to buy the soy mix.
- every day we would have to go to the market and sell the goods by ourself and get the money
- and thousands of more examples, culminating in calling a plant on the other continent to buy a replacement for a hydraulic lift and wait 2 months for it.

The agriculture or manufacturing idea of doing all by yourself is so yesterday!
Intermediaries exist because they are more efficient, you contract them because you can't do the job yourself!
If we revert back to that kind of middle ages economy good luck getting a coat in summer cause you will have to wait till winter when the shepherds come back from the mountains to get wool.

And all of this would be solved with cryptos!
Who would have thought?

I went to the factories near my house and they paid not even 1 Rs to the workers to make a mask of 40 RS , therefore what it means is that all this profit or 39 Rs is going in the pockets of rich who have 1000 factories like this .

Yeah, slaughter the rich, those damn kulaks.!!
It worked flawlessly in the past, Zimbabwe is a prime example of it.

[TheUltraElite]

Why do you think it is bad for the government to accept crypto?
I don't think because a lot of people are against it and politics involved will be the reason why it will give bad image to the government.

The governments run democracy and in a democracy everyone's opinion becomes important. So now think like this, you are politician who wants to win the vote so you allow crypto in your country but the opposing party comes with a campaign against crypto turning most of the votes against you. What I mean is a politicization of the acceptance of crypto and that can be bad for the ruling party.

If both parties will educate themselves regarding crypto and blockchain technology, I don't think they will think that crypto is only used for money laundering purposes.

The world would have been much better if educated people were chosen as politicians and the countries would be run by them. Sadly that is not the case in most countries. Hence educating them is not really an option unless them themselves understand the importance.

Even without crypto, money laundering is everywhere. They just need to learn how to avoid potential money laundering in crypto.

Very likely a impossible thing to do. We would need strict regulation of coins and exchanges and mixers. That would end up driving a lot of the whales away from crypto too and become nothing different from how fiat is regulated. Its a two edged sword but maybe in future there can be better alternatives.

BTW, congrats to @TimeTeller for reaching 5years on this forum yesterday.

[goaldigger]

People are still afraid to adopt cryptocurrency because it is not supported by many government and there's no legal law that protects the user of cryptocurrency. There's a war between these two and we all heard many countries banned bitcoin so many times but we are still lucky that we are still here and still trying to convince many government to make bitcoin and cryptocurrency legal.

Cryptocurrency can save the economy by providing good services that can make businesses more effective and efficient, it can also create jobs, and since many cryptohodlers will benefit by this, they tend to spend more which can save the economy. We just need to have the support of the government and we will surely go up and surpass many financial instruments.

[Kong Hey Pakboy]

People are still afraid to adopt cryptocurrency because it is not supported by many government and there's no legal law that protects the user of cryptocurrency. There's a war between these two and we all heard many countries banned bitcoin so many times but we are still lucky that we are still here and still trying to convince many government to make bitcoin and cryptocurrency legal.

Cryptocurrency can save the economy by providing good services that can make businesses more effective and efficient, it can also create jobs, and since many cryptohodlers will benefit by this, they tend to spend more which can save the economy. We just need to have the support of the government and we will surely go up and surpass many financial instruments.

Governments are afraid of the use of bitcoin because they think bitcoin is always being use for illegal activities such as money laundering, scam projects, Ponzi scheme, etc. But the truth is the use of cryptocurrencies has a lot of benefits to a country's economy that it could lessen unemployed people, it could help business and big companies to make fast transactions, and it could prevent massive virus cases without making physical contact to other people when going to the groceries.

[Raflesia]

People are still afraid to adopt cryptocurrency because it is not supported by many government and there's no legal law that protects the user of cryptocurrency. There's a war between these two and we all heard many countries banned bitcoin so many times but we are still lucky that we are still here and still trying to convince many government to make bitcoin and cryptocurrency legal.

Cryptocurrency can save the economy by providing good services that can make businesses more effective and efficient, it can also create jobs, and since many cryptohodlers will benefit by this, they tend to spend more which can save the economy. We just need to have the support of the government and we will surely go up and surpass many financial instruments.

Governments are afraid of the use of bitcoin because they think bitcoin is always being use for illegal activities such as money laundering, scam projects, Ponzi scheme, etc. But the truth is the use of cryptocurrencies has a lot of benefits to a country's economy that it could lessen unemployed people, it could help business and big companies to make fast transactions, and it could prevent massive virus cases without making physical contact to other people when going to the groceries.

That's what the government fears if the use of bitcoin is legalized so I'm sure money laundering and other crimes will increase because bitcoin has been legalized so of course there will be lots of bad people who do this so it needs to be reviewed for the government for real bitcoin users.
I know that the economy is developing with bitcoin, but in terms of price it is still not certain because of fluctuations at any time so that this investment can be beneficial and bad when a crash occurs.

[panganib999]

I think the main reason why the government is against the usage of cryptocurrencies is that because they are just seeing the one side of it which is that it might promote scam related cases and that it can be harmful to the citizens of their country. They might be clearly misunderstood things out just like what we have in the country where I currently reside that is why our government is not encouraging people to use cryptocurrencies since our national bank is not supporting the usage of it and we are being stated to use it freely without being prohibited but only for our own risk

Maybe the solution for this is that we must let the government understand the pros and cons of using the cryptocurrencies and identify how we can implement the usage and adaptation of cryptocurrencies which can lessen the negative outputs being thrown against cryptocurrencies making the government disagree on using it. Once every details have been clarified and the people demand to use and adapt it, government will surely realize that there is a point why people are pushing it through to use cryptocurrencies that can be beneficial for both sides.

[abhiseshakana]

The world would have been much better if educated people were chosen as politicians and the countries would be run by them. Sadly that is not the case in most countries. Hence educating them is not really an option unless them themselves understand the importance.

I think the most important thing to be a leader is a virtuous character. Skill, insight, skills, and experience can be upgraded while character, habits, and mindset are very difficult to change. An honest and responsible leader will choose ministers and advisers who are loyal, honest, and highly dedicated to the people. And the important thing is a leader must have a high spirit of nationalism and firmness and focus on thinking about the interests of citizens not the interests of political parties or personal interests. With a firm attitude, idealism will be maintained and not be swayed by oligarchs and plutocrats.

[bitbunnny]

The world would have been much better if educated people were chosen as politicians and the countries would be run by them. Sadly that is not the case in most countries. Hence educating them is not really an option unless them themselves understand the importance.

I think the most important thing to be a leader is a virtuous character. Skill, insight, skills, and experience can be upgraded while character, habits, and mindset are very difficult to change. An honest and responsible leader will choose ministers and advisers who are loyal, honest, and highly dedicated to the people. And the important thing is a leader must have a high spirit of nationalism and firmness and focus on thinking about the interests of citizens not the interests of political parties or personal interests. With a firm attitude, idealism will be maintained and not be swayed by oligarchs and plutocrats.

If the politicians were all that, highly educated, dedicated to the people and community and focused to.solve the problems of their community then this world would be ideal place.
We all know that isn't so and they usualy put their own interests first. Yes, it's the question of mindset too but if you look politicians all around the world they are pretty much the same. I don't think that education of politicians can help but education of people who elect them can.

[Twentyonepaylots]

People are still afraid to adopt cryptocurrency because it is not supported by many government and there's no legal law that protects the user of cryptocurrency. There's a war between these two and we all heard many countries banned bitcoin so many times but we are still lucky that we are still here and still trying to convince many government to make bitcoin and cryptocurrency legal.

Cryptocurrency can save the economy by providing good services that can make businesses more effective and efficient, it can also create jobs, and since many cryptohodlers will benefit by this, they tend to spend more which can save the economy. We just need to have the support of the government and we will surely go up and surpass many financial instruments.

Governments are afraid of the use of bitcoin because they think bitcoin is always being use for illegal activities such as money laundering, scam projects, Ponzi scheme, etc. But the truth is the use of cryptocurrencies has a lot of benefits to a country's economy that it could lessen unemployed people, it could help business and big companies to make fast transactions, and it could prevent massive virus cases without making physical contact to other people when going to the groceries.

That's what the government fears if the use of bitcoin is legalized so I'm sure money laundering and other crimes will increase because bitcoin has been legalized so of course there will be lots of bad people who do this so it needs to be reviewed for the government for real bitcoin users.

Even now that bitcoin isn't that big, we got a lot of scam related activities and I'm sure the government has already think if they will going to promote bitcoin in the public. Understandable how the government want their citizen to be secured financially by not letting crypto be just in their way. We can't definitely stop the scams, even if you pass a law after crypto.

I know that the economy is developing with bitcoin, but in terms of price it is still not certain because of fluctuations at any time so that this investment can be beneficial and bad when a crash occurs.

Bitcoin as a help to developing economy is just a small piece compare to other markets, bitcoin isn't even that big in the outside, we are thousands of user but just a few if you look closely.

[carlfebz2]

The world would have been much better if educated people were chosen as politicians and the countries would be run by them. Sadly that is not the case in most countries. Hence educating them is not really an option unless them themselves understand the importance.

I think the most important thing to be a leader is a virtuous character. Skill, insight, skills, and experience can be upgraded while character, habits, and mindset are very difficult to change. An honest and responsible leader will choose ministers and advisers who are loyal, honest, and highly dedicated to the people. And the important thing is a leader must have a high spirit of nationalism and firmness and focus on thinking about the interests of citizens not the interests of political parties or personal interests. With a firm attitude, idealism will be maintained and not be swayed by oligarchs and plutocrats.

If the politicians were all that, highly educated, dedicated to the people and community and focused to.solve the problems of their community then this world would be ideal place.
We all know that isn't so and they usualy put their own interests first. Yes, it's the question of mindset too but if you look politicians all around the world they are pretty much the same. I don't think that education of politicians can help but education of people who elect them can.

Highly agree on what you had said on here which this is definitely the reality that we are facing on and also talking about on ideal place would really be just stuck out in dreams and cant really be happened.

We arent generalizing in all governments in the world but this had been always the case which self-interest would comes first before anything else.So im not really that expecting

when it comes to collaboration of things that is opposing into their prime motive in the first place.

[danggoron]

I think the main reason why the government is against the usage of cryptocurrencies is that because they are just seeing the one side of it which is that it might promote scam related cases and that it can be harmful to the citizens of their country. They might be clearly misunderstood things out just like what we have in the country where I currently reside that is why our government is not encouraging people to use cryptocurrencies since our national bank is not supporting the usage of it and we are being stated to use it freely without being prohibited but only for our own risk
~

Actually the government is aware of the good potential of cryptocurrency, which is why some governments have begun to open with crypto, although not completely because there are certain limitations. This is all in anticipation of the government to protect its diverse citizens. Most people are able to adapt well, so they can minimize the risk of loss, fraud, etc. While some others just hope for profit without wanting to learn eventually get stuck and lose a lot.
After all, the negative side is true, right? although some of the news is hyperbole that makes the general public affected and view the crypto world as a dark world.

[Yamifoud]

To make our economy stronger we need Government to give full support to cryptocurrencies

That is all we need especially at this time where contactless transactions are much important. But have to put into the realization that some government leaders are taking their steps as well to promote crypto and put it on their trust list. In fact, some countries who band crypto before have already opened the door for it https://www.fxempire.com/education/article/the-next-cryptocurrency-evolution-countries-issue-their-own-digital-currency-443966.

This how they realize that their people need some transformation from FIAT to digital currency it actually works find and effective. But have to give concern on how we can escape from scamming and fraud that we saw their massive growth as people seek to look at an option for online transactions.

[Shasha80]

I agree to strengthen our economy we need government to give support for cryptocurrency. Actually if all the population has a decent income,
the economy will advance on its own. But now the number of unemployed is increasing, one of the best solutions to legalize cryptocurrency by
the government. Because of the fact cryptocurrency can provide an income feasible with investment or trading, besides investment or trading
cryptocurrency can be done at home. So it is in line with the government which encourages its residents to work from home, to prevent the spread
of COVID-19.

[AniviaBtc]

People are still afraid to adopt cryptocurrency because it is not supported by many government and there's no legal law that protects the user of cryptocurrency. There's a war between these two and we all heard many countries banned bitcoin so many times but we are still lucky that we are still here and still trying to convince many government to make bitcoin and cryptocurrency legal.

Cryptocurrency can save the economy by providing good services that can make businesses more effective and efficient, it can also create jobs, and since many cryptohodlers will benefit by this, they tend to spend more which can save the economy. We just need to have the support of the government and we will surely go up and surpass many financial instruments.

Governments are afraid of the use of bitcoin because they think bitcoin is always being use for illegal activities such as money laundering, scam projects, Ponzi scheme, etc. But the truth is the use of cryptocurrencies has a lot of benefits to a country's economy that it could lessen unemployed people, it could help business and big companies to make fast transactions, and it could prevent massive virus cases without making physical contact to other people when going to the groceries.

That's what the government fears if the use of bitcoin is legalized so I'm sure money laundering and other crimes will increase because bitcoin has been legalized so of course there will be lots of bad people who do this so it needs to be reviewed for the government for real bitcoin users.
I know that the economy is developing with bitcoin, but in terms of price it is still not certain because of fluctuations at any time so that this investment can be beneficial and bad when a crash occurs.

There are a lot of factors that they need to consider before the government allow the use of cryptocurrency in the market. We don't know maybe the government is scared to see those scammers or hackers to do crimes in the community and economy because it is a hassle thing for them to catch those criminals, that's why they still not finalize the regulation of cryptocurrency. Government are still not that knowledgeable about the advantages of bitcoin in the market and economy, they are not spending time to study it because we lack of support and promotion from other bitcoin users. But as we engage in a more advancement of technology, government should try to explore blockchain and cryptocurrency to achieve development.

[shoreno]

I agree to strengthen our economy we need government to give support for cryptocurrency. Actually if all the population has a decent income,
the economy will advance on its own. But now the number of unemployed is increasing, one of the best solutions to legalize cryptocurrency by
the government. Because of the fact cryptocurrency can provide an income feasible with investment or trading, besides investment or trading
cryptocurrency can be done at home. So it is in line with the government which encourages its residents to work from home, to prevent the spread
of COVID-19.

its already enough that a government supports its people with jobs or other needs even without the help or the support for cryptos because the country can still improve that way  .

support for cryptocurrency is only optional .  governments can also help find a way for the people to work from thier home and there are already type of jobs like that without any involvement of cryptocurrency whatsoever  . that can be considered now that we are in the middle of this pandemic  .

[TheGreatPython]

support for cryptocurrency is only optional .  governments can also help find a way for the people to work from thier home and there are already type of jobs like that without any involvement of cryptocurrency whatsoever  . that can be considered now that we are in the middle of this pandemic  .

Yes, agree. Because a bitcoin adopter can find all the fruits of bitcoin ecosystem without a nod from their government; basically bitcoin is designed to enhance our privacy hence expecting government approval for this case, is somehow spoiling the core purposes of adopting bitcoin itself. I guess most people have not understood this facts and concept of bitcoin which are related to privacy and trustless way of transacting and this could be the reason, they are still seeking support from their government only for purposes like easy buying and selling of bitcoins.

In short term, governments positive intervention will boost adoption of bitcoins but in long term it may work in different directions. So, adopting the environment where zero support from governments will help us to be effectively utilizing bitcoins as per our own directions rather than what others direct.

Government are still not that knowledgeable about the advantages of bitcoin in the market and economy, they are not spending time to study it because we lack of support and promotion from other bitcoin users.

I guess they will not at any point of time as well. Because they simply target only taxes from people and definitely not bother about the better and secured economy of their people. If governments start studying about cryptos then definitely will plan up things will eventually lead to strong economy for their people and their nation as well. Because, individual's economy is the basic unit of a country's.

[mezzaluna]

Living in a country like that is actually kinda sad. If the government only to those people who have money, then it would surely be not profitable for those users who are living dependent in their jobs in the Cryptocurrency Industry.

I guess the only way to deal with governments like that is to tell them that there are a lot of ways for them to also gain profit without being robbed of their rights or placing to much restrictions with the use of Cryptocurrency.

[Dilerium90]

Living in a country like that is actually kinda sad. If the government only to those people who have money, then it would surely be not profitable for those users who are living dependent in their jobs in the Cryptocurrency Industry.

I guess the only way to deal with governments like that is to tell them that there are a lot of ways for them to also gain profit without being robbed of their rights or placing to much restrictions with the use of Cryptocurrency.

I agree that the banking system is outdated and cryptocurrency is an inevitable future. But i can understand government. On the one hand, cryptocurrency is a huge potential for transparency and decentralization, but on the other it is a field for the black market. Since there are a lot of cryptocurrencies and it is impossible to keep track of everything, terrorists and attackers can use it for bad purposes.

[thesmallgod]

I am fully in support of government giving crypto total support especially in some third world countries but I've come to realized until they beginning to understand why the current financial sectors being used can be enacted by using block chain technology, they will continue to duel in cons of the technology. With  greater adoption of bitcoin by many banks in Europe, I strongly believe it is a matter of time before we start seen the central banks deploying block chain technology in banking

[Kakmakr]

The problems you mentioned cannot be solved by Bitcoin alone, because a lot of those problems are due to human nature. It is in their nature to abuse their power and to manipulate their economy to try to stay in power. Politicians are destroying the future for our children, because they are building sand castles on debt. 

Bitcoin can make transactions in government more transparent, but they can manipulate that data too, by publishing wrong source data. There are also work being done to make the voting system more transparent and fair, by having people voting on the Blockchain. (making it immutable) 

[ethereumhunter]

Living in a country like that is actually kinda sad. If the government only to those people who have money, then it would surely be not profitable for those users who are living dependent in their jobs in the Cryptocurrency Industry.

I guess the only way to deal with governments like that is to tell them that there are a lot of ways for them to also gain profit without being robbed of their rights or placing to much restrictions with the use of Cryptocurrency.

I agree that the banking system is outdated and cryptocurrency is an inevitable future. But i can understand government. On the one hand, cryptocurrency is a huge potential for transparency and decentralization, but on the other it is a field for the black market. Since there are a lot of cryptocurrencies and it is impossible to keep track of everything, terrorists and attackers can use it for bad purposes.

Maybe we can say that, but on the government side, they still prefer the current system. They think that the banking system can be upgraded by using improvements to make it better than before. But maybe they forget that technology will always be invented, and the newest technology will solve the old technology problem. But in the future, the government will realize that they need to implement the newest technology so that they can develop and grow step forward than the other countries.

[abeecrypto]

We are the government. Everyone is. We only have leaders who lead the government. When the majority decides to support a certain ideology, the leaders of the government (us)  will succumb.  Evolution doesn't come easy. At first, it will be rejected,  but will later be accepted. The funny thing is that most of the concepts that has evolved over the years weren't pioneered by the leaders of the government. Crypto is new and unique. It's value is beyond what we know today. When more people begin to see, understand and implement the values of crypto,  there will be no need to worry about the leaders of the government.  Crypto will naturally be adopted.

[coinfinger]

I can’t really tell you about building a whole country economy, I don’t know if that has proven anywhere, but I do know for sure that cryptocurrency can help those who wants to help themselves. You can choose to invest in cryptocurrency and be able to use it as a hedge when the economy of your country is falling.

I know some people would usually say that gold is better to use as a hedge, but I believe that cryptocurrency can serve that purpose as well and will even do it better. When you are using cryptocurrency the money you have in your wallet is yours and is 100% in your control, so it’s far much better than any other thing you will choose at this time.

[samcrypto]

To make our economy stronger we need Government to give full support to cryptocurrencies

Not really from the government's point of view because almost every economy is working from the tax money collected by their citizen but if we have peer to peer transactions everywhere then no one will really pay the right tax amount they should pay based on their earnings.And also the government want their people under control of them all the time so we can't expect them to give us full financial freedom.

Once they make laws about this one, then that it the time our freedom will put in danger but hopefully with a help of blockchain technology, we can still have the chance not to be controlled by any government despite of those laws.

There’s a big impact when government support cryprocurrency, anywhere in the world if crypto becomes more legal then that is good for all of us, the result of that will become more positive in the market and the economy will also be good and the cycle continues.

[Findingnemo]

To make our economy stronger we need Government to give full support to cryptocurrencies

Not really from the government's point of view because almost every economy is working from the tax money collected by their citizen but if we have peer to peer transactions everywhere then no one will really pay the right tax amount they should pay based on their earnings.And also the government want their people under control of them all the time so we can't expect them to give us full financial freedom.

Once they make laws about this one, then that it the time our freedom will put in danger but hopefully with a help of blockchain technology, we can still have the chance not to be controlled by any government despite of those laws.

There’s a big impact when government support cryprocurrency, anywhere in the world if crypto becomes more legal then that is good for all of us, the result of that will become more positive in the market and the economy will also be good and the cycle continues.

Good for the people but not for the government to be honest.How they can collect tax when people can hide their transactions under privacy coins and also governments never let the people to use their money with full freedom they want to have complete control over it.So practically government may not support crypto currencies until they are forced to do by the adoption among the people.

[rodskee]

Crypto is new and unique. It's value is beyond what we know today. When more people begin to see, understand and implement the values of crypto,  there will be no need to worry about the leaders of the government.  Crypto will naturally be adopted.

When people start to used and adopt this crypto money, government will follow and
adoption as a whole will take place.
The government will reviewed and start implementing necessary rulings in order to
still have authorities behind this cryptomoney.
The future still unseen there's no  certainty, however government needs to realize
and understand the benefits for the best interest of everyone.

[serjent05]

To make our economy stronger we need Government to give full support to cryptocurrencies

Not really from the government's point of view because almost every economy is working from the tax money collected by their citizen but if we have peer to peer transactions everywhere then no one will really pay the right tax amount they should pay based on their earnings.And also the government want their people under control of them all the time so we can't expect them to give us full financial freedom.

Once they make laws about this one, then that it the time our freedom will put in danger but hopefully with a help of blockchain technology, we can still have the chance not to be controlled by any government despite of those laws.

There’s a big impact when government support cryprocurrency, anywhere in the world if crypto becomes more legal then that is good for all of us, the result of that will become more positive in the market and the economy will also be good and the cycle continues.

Good for the people but not for the government to be honest.How they can collect tax when people can hide their transactions under privacy coins and also governments never let the people to use their money with full freedom they want to have complete control over it.So practically government may not support crypto currencies until they are forced to do by the adoption among the people.

How can it be good for people when majority of cryptocurrency supply (in this case its Bitcoin) is being held by only a few?  We are only concerns on taxes, yet we don't see the larger scale issue.  Government are so careful on accepting/adopting this so called cryptocurrency because of the possible economic implications.  Government don't have any control on the supply so the market value can crash anytime those big holders decided to dump.  So they are carefully and slowly adopting cryptocurrency to make sure that it can be implemented without any major fall back of the economy if ever worst happen.

The future still unseen there's no  certainty, however government needs to realize
and understand the benefits for the best interest of everyone.

Indeed.

[Findingnemo]

How can it be good for people when majority of cryptocurrency supply (in this case its Bitcoin) is being held by only a few?  We are only concerns on taxes, yet we don't see the larger scale issue.  Government are so careful on accepting/adopting this so called cryptocurrency because of the possible economic implications.  Government don't have any control on the supply so the market value can crash anytime those big holders decided to dump.  So they are carefully and slowly adopting cryptocurrency to make sure that it can be implemented without any major fall back of the economy if ever worst happen.

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

No, I guess.

[Pamadar]

How can it be good for people when majority of cryptocurrency supply (in this case its Bitcoin) is being held by only a few?  We are only concerns on taxes, yet we don't see the larger scale issue.  Government are so careful on accepting/adopting this so called cryptocurrency because of the possible economic implications.  Government don't have any control on the supply so the market value can crash anytime those big holders decided to dump.  So they are carefully and slowly adopting cryptocurrency to make sure that it can be implemented without any major fall back of the economy if ever worst happen.

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

No, I guess.

They are not. Government only cares once they've seen opportunities to earned by means of implemented taxes,
but in terms of concerning about people to earned from the help that they can
provide it's really far from realizations.
Government indeed can provide if adoptions easily been take place, the value of crypto will increase and the usages
will cater more businesses.

[Yatsan]

The relationship of government and cryptocurrencies have not been so good to many countries due to persistent denial of government to allow cryptocurrency usage in accordance to the public demand being stated by its citizens. Government have always been tough on what they believe is right and what must be done for the sake of its people. On the point of thinking that government is just ensuring the good of its men, it is collectively just fine but there must be reconsideration to look on both the pros and cons why people persistently wanted to adapt using cryptocurrencies.

That has been become an issue here in the country where I reside. Our government is not encouraging people to get into cryptocurrencies because they are tough on saying that it will just promote chaos and more criminal acts such as money laundering and scams. But they are just seeing the negative and they are just relying on what they want to see and understand and not the whole thing about cryptocurrency. With that, they are discouraging people to get into cryptocurrencies although we are not prohibited, but we must just use it for our own risk only. With that, people are afraid of engaging and adapting crypto and we, who merely understand and know about it are the ones using it. But because of connection (friends or family members using crypto) many are now understanding it. It is just our government who still not supporting the usage and adaptation of it.

[$crypto$]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

No, I guess.

They are not. Government only cares once they've seen opportunities to earned by means of implemented taxes,
but in terms of concerning about people to earned from the help that they can
provide it's really far from realizations.
Government indeed can provide if adoptions easily been take place, the value of crypto will increase and the usages
will cater more businesses.

How can the government implement a tax system on cryptocurrency if the adoption does occur instead of p2p it's difficult to become the third person? so the government might not be able to do this because there is no tax that goes into the state budget so cryptocurrency is very difficult to be adopted by the government fully.

If the government just announces about cryptocurrency then I am sure growth will increase because this is very influential in the crypto world.

[deisik]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually

It would likely mean even greater wealth inequality

First off, what makes you think that big holders are going to part with their precious coins that would become even more precious once governments "adopt" cryptocurrencies in one or another way? Then, as I see it, mass adoption would actually contribute to hoarding instincts of a typical Bitcoin holder. And deep pockets have a lot more purchasing power anyway (that's the crucial point here), and thus they can buy and stash away more bitcoins, right?

[Findingnemo]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually

It would likely mean even greater wealth inequality

First off, what makes you think that big holders are going to part with their precious coins that would become even more precious once governments "adopt" cryptocurrencies in one or another way? Then, as I see it, mass adoption would actually contribute to hoarding instincts of a typical Bitcoin holder. And deep pockets have a lot more purchasing power anyway (that's the crucial point here), and thus they can buy and stash away more bitcoins, right?

adoption means more people buying bitcoins right which means the availability of bitcoin will be distributed to more people than few hands that is why it is going to reduce the manipulating power less gradually.But they have more purchasing power which could make the coins to go expensive but they can't keep holding at that high price for too long if the adoption take place surely they will lose their holding power when adoption increases.

[bitgolden]

mass adoption would actually contribute to hoarding instincts of a typical Bitcoin holder. And deep pockets have a lot more purchasing power anyway (that's the crucial point here), and thus they can buy and stash away more bitcoins, right?

An usual assumption is, a whale will be unpowered by a group of small bitcoin adopters in terms of market manipulation.
When mass adoption will be happening, a typical bitcoin holder may able to hoard more only if they are prepared with fiats as buying bitcoins for bitcoins is not making any sense . But, new-small-adopters will have fiats to buy new bitcoins to hoard or to use. So, mass adoption does not lead to assume that whale will get more power. A deep BTC pocket may have lots of purchasing power but not to buy BTC again .

It would likely mean even greater wealth inequality

Wealth inequality is not a problem (deserving people make money). Actually it is the one thing which moves this world. If I would have mined one or two blocks by 2010 and if I somehow managed to hold till now then I would not have been writing this post right now. My corner taxi driver waits for me even at mid night as he want to earn like his neighbor. If he is richer like his neighbor then I may not get his service whenever I do call him.

[deisik]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually

It would likely mean even greater wealth inequality

First off, what makes you think that big holders are going to part with their precious coins that would become even more precious once governments "adopt" cryptocurrencies in one or another way? Then, as I see it, mass adoption would actually contribute to hoarding instincts of a typical Bitcoin holder. And deep pockets have a lot more purchasing power anyway (that's the crucial point here), and thus they can buy and stash away more bitcoins, right?

adoption means more people buying bitcoins right which means the availability of bitcoin will be distributed to more people than few hands that is why it is going to reduce the manipulating power less gradually

Okay, more people will be entering this market

And how is it going to help whales lose their grip on the market? The supply of Bitcoin is fixed (capped), and you can't sell more bitcoins than there are in circulation (well, technically, Bitcoin futures and other derivatives could in fact expand its effective monetary base). So the only way they can lose their manipulating power is through selling their coins. And this is another issue. If they have more purchasing power than the average Joe, they would likely start buying, not selling

[Findingnemo]

Okay, more people will be entering this market

And how is it going to help whales lose their grip on the market? The supply of Bitcoin is fixed (capped), and you can't sell more bitcoins than there are in circulation (well, technically, Bitcoin futures and other derivatives could in fact expand its effective monetary base). So the only way they can lose their manipulating power is through selling their coins. And this is another issue. If they have more purchasing power than the average Joe, they would likely start buying, not selling

More people entering into the market really means they are buying cryptos, since the max cap is finite so they can only buy from the existing hands.We often see huge amount of bitcoins getting sold on the exchanges so the trades of lots of average joes will buy from this means the whale who sold that amount lost the part of their stack right? If this process keep repeating for years the the manipulating power will be more less than now I my opinion.

[so98nn]

That is not sorted relationship to be honest. Government's of many countries dint like the idea of decentralised currency since they can not track the money flow. This has actually resulted in various institutes, individuals like politicians etc to store their black money over the bitcoin wallet. I guess that disturbs the whole economic flow of country and over the time this amount of money keeps building up as black form and could impact heavily on market.

Cryptocurrencies are good for those who wants to save their taxes, have fun gambling it, increasing the revenue, passive income you name it!! BUT, when it comes to the government they are just against it for the first para that I wrote.

Since we all know the transactions here can't be traced out to the banks, they literally "miss the white money" and hence no taxes!

Just imagine if this took over the centralised system then how the government will run in first place?

[deisik]

Okay, more people will be entering this market

And how is it going to help whales lose their grip on the market? The supply of Bitcoin is fixed (capped), and you can't sell more bitcoins than there are in circulation (well, technically, Bitcoin futures and other derivatives could in fact expand its effective monetary base). So the only way they can lose their manipulating power is through selling their coins. And this is another issue. If they have more purchasing power than the average Joe, they would likely start buying, not selling

More people entering into the market really means they are buying cryptos, since the max cap is finite so they can only buy from the existing hands.We often see huge amount of bitcoins getting sold on the exchanges so the trades of lots of average joes will buy from this means the whale who sold that amount lost the part of their stack right?

That's not necessarily the case

If some whales are selling, other whales may be buying. And it is not in the least established that smaller whales are buying from the bigger ones. As far as I remember, the coin distribution is heavily skewed toward huge wallets, i.e. the ones with over 1k bitcoins (note, I don't refer to exchange wallets here) and, most importantly, this imbalance tends to become worse over time. That pretty much means that big fish are eating small ones (as well as average Joes)

[Oceat]

Okay, more people will be entering this market

And how is it going to help whales lose their grip on the market? The supply of Bitcoin is fixed (capped), and you can't sell more bitcoins than there are in circulation (well, technically, Bitcoin futures and other derivatives could in fact expand its effective monetary base). So the only way they can lose their manipulating power is through selling their coins. And this is another issue. If they have more purchasing power than the average Joe, they would likely start buying, not selling

More people entering into the market really means they are buying cryptos, since the max cap is finite so they can only buy from the existing hands.We often see huge amount of bitcoins getting sold on the exchanges so the trades of lots of average joes will buy from this means the whale who sold that amount lost the part of their stack right? If this process keep repeating for years the the manipulating power will be more less than now I my opinion.

What you mean from the existing hands are the exchanges, right? It doesn't mean they buy from these exchanges the whole Bitcoin will be staying on someone's hands forever, we do trades so that Bitcoin will continue to circulate. It's not that people are forever hodling their Bitcoin they must have to sell it somehow since Bitcoin is a money. Maybe there's someone who could just play their fiat just to manipulate the market but that's just a complete waste of time I think.

[uneng]

That is not sorted relationship to be honest. Government's of many countries dint like the idea of decentralised currency since they can not track the money flow. This has actually resulted in various institutes, individuals like politicians etc to store their black money over the bitcoin wallet. I guess that disturbs the whole economic flow of country and over the time this amount of money keeps building up as black form and could impact heavily on market.

Cryptocurrencies are good for those who wants to save their taxes, have fun gambling it, increasing the revenue, passive income you name it!! BUT, when it comes to the government they are just against it for the first para that I wrote.

Governments can't blame bitcoin for its shady use by some people. Fiat is also used for criminal purposes and both (fiat and bitcoin) are traceable. If governments want to ban bitcoin for this reason they have to ban any kind of money.
When a country bans bitcoin, they are just impoverishing their people and economy. It means this money (bitcoins) aren't going to help the national economy anymore, but a foreigner one, which is crypto friendly.

Since we all know the transactions here can't be traced out to the banks, they literally "miss the white money" and hence no taxes!

Just imagine if this took over the centralised system then how the government will run in first place?

Reducing costs, cutting expenses are a good beginning.
The problem nowadays is that the government is too expensive for the citizens sustain it.

[lixer]

We all love cryptocurrency, and I know you’re saying this that cryptocurrency can help the economy because of the love you have for it, but man you’re wrong. Even if you should wake up tomorrow and your government decides that your country going all crypto, your economy won’t skyrocket and become the best in the world as long as you all continue doing things in the wrong way.

The problem is with the government and the people , if the people will rise up for what’s right and fight for their right and have their leaders do the right thing and fight corruption, trust me the country will get better. So don’t be one of those who act like cryptocurrency is the Messiah that will change things for good.

[7788bitcoin]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

Suppose you are a big bitcoin holding and if you are not willing to sell your coins how can that dilute the coins from your hands to others who are willing to purchase. Since the supply is limited and if there are more buyers than sellers the price would go up and that is the whole point for anyone to hold the coins much longer, adoption from government means regulation and taxing everyone who make a profit and it will get rid of the fake exchanges and other shady practices.

[Leviathan.007]

To be real short, let's say most of the governments don't really like the crypto world we know and they are trying to ban it or change it on their own ways. There are many reasons for this, usually they hate it because they can't calculate how much money do really people have when they are using cryptocurrencies and they can't take enough tax in that way. Also there is the other side of the story for the governments in fighting against crimes. Because Bitcoin and the other crypto is made to be not traceable in transactions. however, mostly the governments are kinda forced to accept crypto in their countries because its a new technology and they most accept it.

[Findingnemo]

That's not necessarily the case

If some whales are selling, other whales may be buying. And it is not in the least established that smaller whales are buying from the bigger ones. As far as I remember, the coin distribution is heavily skewed toward huge wallets, i.e. the ones with over 1k bitcoins (note, I don't refer to exchange wallets here) and, most importantly, this imbalance tends to become worse over time. That pretty much means that big fish are eating small ones (as well as average Joes)

I read somewhere that number of wallets over 1k Bitcoins is getting increased from the past which literally means new whales are emerging and the coin distribution is happening which really means the community is getting bigger so its hard to manipulate the prices.

What you mean from the existing hands are the exchanges, right? It doesn't mean they buy from these exchanges the whole Bitcoin will be staying on someone's hands forever, we do trades so that Bitcoin will continue to circulate. It's not that people are forever hodling their Bitcoin they must have to sell it somehow since Bitcoin is a money. Maybe there's someone who could just play their fiat just to manipulate the market but that's just a complete waste of time I think.

I am talking about the whales here, they hoard huge amount of bitcoin on their wallet so the circulating supply is less so it is easy to manipulate the prices if they wants too.

[erikoy]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

Suppose you are a big bitcoin holding and if you are not willing to sell your coins how can that dilute the coins from your hands to others who are willing to purchase. Since the supply is limited and if there are more buyers than sellers the price would go up and that is the whole point for anyone to hold the coins much longer, adoption from government means regulation and taxing everyone who make a profit and it will get rid of the fake exchanges and other shady practices.

I do not think that this is the purpose of government holding cryptocurrency because as wha you pointed out that they all wanted it for taxing. There are ways that it could be done by the power of the government. As we all.that government can easily set rules and regulations for these. But for now it may seem difficult to accept due to the fact that it contradict to their system being cryptocurrency as decentralized system. However, if goverment can make their own cryptocurrency then higher chances it couls eradicate corruption because all transaction and expenses from.the government fund will be transparent through blockchain tech.

[romero121]

Cryptocurrency and Governments functioning together will happen in the future. As of now what governments think is, if cryptocurrencies were encouraged by them automatically the power of government will fall. Upon this fear majority of the country stand against cryptocurrency.

Another thing, few countries try to hold the cryptocurrencies believing in its growth. One of which holding a large volume of cryptocurrency is Bulgaria. Few countries have planned to digitise the traditional money.

[Findingnemo]

If governments adopted crypto currencies then more people will buy bitcoin which will dilute the bitcoins from huge holders which will eventually make their manipulating power less gradually.But government really care about the value? to save people from the dump.

Suppose you are a big bitcoin holding and if you are not willing to sell your coins how can that dilute the coins from your hands to others who are willing to purchase. Since the supply is limited and if there are more buyers than sellers the price would go up and that is the whole point for anyone to hold the coins much longer, adoption from government means regulation and taxing everyone who make a profit and it will get rid of the fake exchanges and other shady practices.

I do not think that this is the purpose of government holding cryptocurrency because as wha you pointed out that they all wanted it for taxing. There are ways that it could be done by the power of the government. As we all.that government can easily set rules and regulations for these. But for now it may seem difficult to accept due to the fact that it contradict to their system being cryptocurrency as decentralized system. However, if goverment can make their own cryptocurrency then higher chances it couls eradicate corruption because all transaction and expenses from.the government fund will be transparent through blockchain tech.

Government can get transparency if they implement their own blockchain currencies but do they let people to access it? Government never wanted the people to know about anything so they are trying to create closed economy while implementing own blockchain.And regulations are here to bring the restrictions to the users which completely goes against the decentralization but regulations will act as advertisement to the people so they might adopt to bitcoin if they regulate before creating their own CBDCs.

[Blackrain13]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

[tbterryboy]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.

I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.

[Arkann]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.

I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.

In any case, before switching to cryptocurrency completely, people should learn how to store it and how to use it, since every owner of a cryptocurrency is always at risk. But if cryptocurrency goes into the daily life of every person, then I very much hope that we will no longer have problems with the depreciation of our savings due to the fact that the government always prints large amounts of money, creating inflation.

[CarnagexD]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.

Implications with cryptocurrencies is badly viewed by the government we can easily say this because if they don't they could have done it a few years ago. Scams are inevitable especially in a decentralized market, people can move without being traced and so their identities would not be publicly show unlike doing it with fiat that is highly governed and regulated. Let's just face it, crypto scam is part of its nature, what can we do about it is to spread awareness and guide for knowing everything around the circle of crypto.

I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.

As far as I know paypal is touching the bitcoins, they are trying to have it on their platform this is an innovation that the government should not be afraid to fight of, they got the power of the state.

[ashmodeus]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

believe me,its not a solution for current. just imagine by yourself,if a lot people put his money to one basket,what will happen ? for me,just one thing will happen,a bubble scheme, I think the 2018 bubble break is enough for crypto.
--
and also about government + cryptocurrency, that is a complicated thing, considering that government is a sovereignty, it should be able to answer why they do not provide support to cryptocurrency

[gentlemand]

What does 'support' mean in this scenario?

Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.

No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.

[cutesgirl]

Depend who will be the government in your country, I think if some one know with bitcoin will be interested for adopting bitcoin as legal currency payment transaction. But if your country have government low knowledge with technology and digital currency will be not interested with bitcoin and altcoin as digital currency payment.

[inoes]

Cryptocurrency not only overcome financial problems, but in its application can be for various things. economy, health, education, technology etc. If the government cooperates in adopting crypto, it is not impossible that there will be progress in various fields. venezzula, which had experienced a crisis, for example, can be helped. Can this pandemic crisis be helped by the adoption of crypto? the answer depends on the policies taken and the actions of the community

[darewaller]

Believe me, I like cryptocurrencies a lot but this is not the right time. Government won’t be so careless to introduce something so volatile to the citizens which there global/international markets aren’t doing so well. The last thing they want to see is money being laundered, illegal activities being carried out and scam/frauds happening because they gave permission to a decentralized platform to take over during the pandemic.

I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.

[Cryptoreflector_666]

What does 'support' mean in this scenario?

Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.

No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.

The government will be able to legalize cryptocurrencies only if it can control cash flows and receive tax from them. Tax is the blood of States. This is what they exist for in principle. If there are no taxes, there will be no States. Of course, now it all looks like a utopia, but who knows-maybe in one moment everything will change.

[abhiseshakana]

The government will be able to legalize cryptocurrencies only if it can control cash flows and receive tax from them. Tax is the blood of States. This is what they exist for in principle. If there are no taxes, there will be no States. Of course, now it all looks like a utopia, but who knows-maybe in one moment everything will change.

The problem is that tax instruments are not only aimed at sources of state revenue but are also used as a tool to regulate or achieve certain goals such as; drive investment, protect domestic production, and compensate for regulations, for example, the United Arab Emirates impose high taxes on the purchase of alcoholic beverages with the aim that only a few people can consume.

Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government.

[deisik]

Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government

What do you mean by legalizing Bitcoin as a transaction tool?

Maybe, you actually wanted to say that governments refuse to make it into a legal tender on par with national currencies so that everyone could pay taxes with it (since this is basically a definition of legal tender)? That's not going to happen, obviously. However, if Bitcoin along with its brethren is legally defined as property or property rights, digital or otherwise, you should kinda pay a property tax on it (at least, when you sell your coins and book a profit)

[Lorence.xD]

No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.

This is spot on, definitely the government will try their best not to give cryptocurrency a leeway when it comes to supporting their citizens because at the end of the day, decentralization is the perfect opposite of any government.

Believe me, I like cryptocurrencies a lot but this is not the right time. Government won’t be so careless to introduce something so volatile to the citizens which there global/international markets aren’t doing so well. The last thing they want to see is money being laundered, illegal activities being carried out and scam/frauds happening because they gave permission to a decentralized platform to take over during the pandemic.

I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.

Volatility can be debatable because in my opinion because of the fully established cryptocurrency have a good price average, what I mean by that is that most of the prices will not go down real hard. In regards to money laundering and illicit activities committed through cryptocurrency, they are a problem but I think they can't be unsolvable.

[Police Indo]

Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government

What do you mean by legalizing Bitcoin as a transaction tool?

Maybe, you actually wanted to say that governments refuse to make it into a legal tender on par with national currencies so that everyone could pay taxes with it (since this is basically a definition of legal tender)? That's not going to happen, obviously. However, if Bitcoin along with its brethren is legally defined as property or property rights, digital or otherwise, you should kinda pay a property tax on it (at least, when you sell your coins and book a profit)

Because after all the country wants to benefit. so the tax rules are enforced. How could there be millions of dollars worth of assets hanging around his country but the country did not feel the slightest benefit?
so for the time being there are only tax regulations because BTC is difficult to legalize in small countries because it will be a competitor with local currency.

[redsun114]

My take on this is that we will see it in the future, the coexistence of government, banks and cryptocurrencies. As the normal saying goes about beating, they'll join if they have no choice anymore. We're starting to see that there's equilibrium for most countries that started regulating it or no reaction at all but is ok with it and, those that don't like it or likely to ban it are not that many.

And for those countries that are going to label their digital local money as cryptocurrencies, they can do that as they wish but it won't change the fact that we know what cryptocurrencies really are.

Cryptocurrencies can never take over the traditional banking system to be honest. Both of them can start to coexist where cryptos are treated as assets and the INR/USD/EURO etc still as the official traditional fiat currencies.

The countries in which the equilibrium can be observed even after introduction of cryptos are the countries that have regulated it and termed it as an “asset” or as “virtual goods” and not as a currency or money. Government of no country wishes to be left behind in terms of technical advancement, so I don’t think that many countries will even give a thought about banning cryptos.

[deisik]

Volatility can be debatable because in my opinion because of the fully established cryptocurrency have a good price average, what I mean by that is that most of the prices will not go down real hard. In regards to money laundering and illicit activities committed through cryptocurrency, they are a problem but I think they can't be unsolvable.

I'm not sure what you mean by debatable

But it seems that you refer to squashing volatility into, say, single digits. This is possible if Bitcoin's value (or value of any cryptocurrency, for that matter) is determined not through currency exchanges (like now) but in real markets (like in a proverbial grocery store) where you can buy things with it and sell them for it. In this manner, people will have a solid frame of reference, i.e. they will know what one bitcoin is actually worth in real terms. Only in this capacity, i.e. Bitcoin as a real currency, it won't be as volatile as hell

[lixer]

I don’t know for other people, but there is a way I view this – there will always be countries that their economy is going down; when the economy of one country is progressing and moving up, there will be countries that will be seeing the opposite of that. That’s just how it is.

So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger? Well, I don’t think so. Economy being stronger is a whole different thing.

[ene1980]

So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger?

The fact is moving your asset to cryptocurrency will not save any country, it is the opposite of that if all the assets are stuck in a global platform it is not going to do any good for the country but it may help the individual investor if the market goes higher, so the idea of cryptocurrency saving a nation is just farce. A right investment can make some rich but you cannot expect everyone to be a billionaire.

[Kasabus]

So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger?

The fact is moving your asset to cryptocurrency will not save any country, it is the opposite of that if all the assets are stuck in a global platform it is not going to do any good for the country but it may help the individual investor if the market goes higher, so the idea of cryptocurrency saving a nation is just farce. A right investment can make some rich but you cannot expect everyone to be a billionaire.

Cryptocurrency may not save one's country but it can save someone's lives by improving its own economy. Although it's impossible for a government to adopt cryptocurrency and replace its own monetary system, but if there's no other choice that can save the citizens, then maybe government, banks and cryptocurrency will unite as one.

[MCobian]

Regarding cryptocurrency that can save a country's economy, in my opinion, it might come true. Imagine the country
legalize crypto for investment or even as payment tools. Surely many residents can improve their economy when prices
cryptocurrency goes up. In contrast to countries where the government banned crypto and only allowed its residents
investing and making transactions in fiat currency only. There is an economy whose population is decreasing due to inflation.

[reliable]

Regarding cryptocurrency that can save a country's economy, in my opinion, it might come true. Imagine the country
legalize crypto for investment or even as payment tools. Surely many residents can improve their economy when prices
cryptocurrency goes up. In contrast to countries where the government banned crypto and only allowed its residents
investing and making transactions in fiat currency only. There is an economy whose population is decreasing due to inflation.

Government should legalize and try to make every effort so that they can ensure that people are benefited with it. It has many advantages as well and many people form it can start their different business or use as a payment option for their business. Transaction are so fast and cheap which can save lot of time and money as well as compared to regular way in which money is transferred form bank from one country to another. Pole can just invest like share market and can make profits as well from it.

[FlightyPouch]

If government will accept cryptocurrency and give freedom to the people to use it ,i think  many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.

What current situation? The pandemic? Don't forget that there are a lot of methods or ways to transact your payments like mobile apps and digital wallets not just crypto currencies. Another thing is that the government won't just accept bitcoin or other cryptos unless they are centralized and controlled by them.

[sunsilk]

Regarding cryptocurrency that can save a country's economy, in my opinion, it might come true. Imagine the country
legalize crypto for investment or even as payment tools. Surely many residents can improve their economy when prices
cryptocurrency goes up. In contrast to countries where the government banned crypto and only allowed its residents
investing and making transactions in fiat currency only. There is an economy whose population is decreasing due to inflation.

Saving its residents but not entirely the economy. If you watch bitcoin documentaries about bitcoin on YouTube and with the interviewees from Venezuela, it helps them ever before this pandemic.

Their country is in hyper inflation and residents who have knowledge about mining bitcoin and investing in bitcoin, do it. And as they do, that helped them to survive despite the hyper inflation that their economy is experiencing.

[Ridwan Fauzi]

Depend who will be the government in your country, I think if some one know with bitcoin will be interested for adopting bitcoin as legal currency payment transaction. But if your country have government low knowledge with technology and digital currency will be not interested with bitcoin and altcoin as digital currency payment.

They will not use it since bitcoin and most crypto currency have a decentralized system. The governement will prefer to adopt some coin which has centralized system like XRP and etc because they know the risk that will be faced.

As for payment system, I think it is up to them to legalized or not since we just fine to use money fiat. Moreover if you aren't often to make payment system which deal in different country you still fine to use money fiat.

This is why many governement still reluctant to legilized crypto currency for payment system, it will be useless. So, I am very grateful my government adopt crypto currency as an investing only despite they try to banned it.

[dmzar]

Many governments do not yet support the idea of cryptocurrencies, my country does not escape this reality but despite everything i am already using cryptocurrencies, i discovered a very good  that has helped me a lot. the platform is MintMe, this platform has allowed me to make donations, start my entrepreneurship and monetize it through tokens. It is really fantastic this platform, offers many tools.

[whyrqa]

Depend who will be the government in your country, I think if some one know with bitcoin will be interested for adopting bitcoin as legal currency payment transaction. But if your country have government low knowledge with technology and digital currency will be not interested with bitcoin and altcoin as digital currency payment.

They will not use it since bitcoin and most crypto currency have a decentralized system. The governement will prefer to adopt some coin which has centralized system like XRP and etc because they know the risk that will be faced.

As for payment system, I think it is up to them to legalized or not since we just fine to use money fiat. Moreover if you aren't often to make payment system which deal in different country you still fine to use money fiat.

This is why many governement still reluctant to legilized crypto currency for payment system, it will be useless. So, I am very grateful my government adopt crypto currency as an investing only despite they try to banned it.

In recent years, there have been very large rates of increase in inflation in each country. due to the next economic crisis, the government again begins to actively print money supply, which of course has a very bad effect on the welfare of citizens. Nevertheless, it is this situation that is one of those factors that positively affect the attraction of investment funds for cryptocurrency, as well as the introduction of cryptocurrencies into a person's daily life. I believe that no government will be able to resist the worldwide trend of cryptocurrency adoption.

[Shreek]

for me the government will only interfere in the field of crypto currency, because the government tends to control and regulate the economy with the aim of not harming the government's finances itself,

We know that crypto has a decentralist nature, it cannot be controlled by a person or group of people, while the government tends to be the opposite.

[South Park]

snip

I do think the solution to collapsing economic situation in every country might be cryptocurrencies. But that would also need full support of the government and the banks , this is not the situation when they can continue to fight over who is better , I do think they should move forward and coexist.  

snip

To make our economy stronger we need Government to give full support to cryptocurrencies

Please share your thoughts~

Governments are never going to give up their power willingly that is a lesson that we have learned from history, citizens for the most part need to take this power back with force, but thanks to bitcoin this is not necessary, we need people to begin to use bitcoin regardless of the regulations or the bans from the governments and this is only going to happen when a crisis big enough hit us, then and only then when the government is fully defeated and they cannot forbid their population to use bitcoin they will accept cryptocurrencies without any condition, but that does not mean that the war will be won, because as soon as things go back to some sense of normality governments will try to go against cryptocurrencies again.

[Bezobraznike]

for me the government will only interfere in the field of crypto currency, because the government tends to control and regulate the economy with the aim of not harming the government's finances itself,

We know that crypto has a decentralist nature, it cannot be controlled by a person or group of people, while the government tends to be the opposite.

   It's how you said it Shreek! These two are contradictory, and people will have to choose what will they use, if there's a choice,
governments can find a way to force people to use their crypto-currency!
   We will have to choose will we obey to their rules, or we will follow a decentralized way of thinking. I am for decentralization,
but that means that we will have to make some big changes in this world.

[FlightyPouch]

for me the government will only interfere in the field of crypto currency, because the government tends to control and regulate the economy with the aim of not harming the government's finances itself,

We know that crypto has a decentralist nature, it cannot be controlled by a person or group of people, while the government tends to be the opposite.

   It's how you said it Shreek! These two are contradictory, and people will have to choose what will they use, if there's a choice,
governments can find a way to force people to use their crypto-currency!
   We will have to choose will we obey to their rules, or we will follow a decentralized way of thinking. I am for decentralization,
but that means that we will have to make some big changes in this world.

And if that is the case the governemnt will be choosing to ban crypto currencies on the country. They can't afford people using decentralized crypto currencies unless they are already taxing it(don't know how will they do that though). It would be an alternative to fiat/crypto that the government would issue but I think this is still far from us.

[Ayiranorea]

for me the government will only interfere in the field of crypto currency, because the government tends to control and regulate the economy with the aim of not harming the government's finances itself,

We know that crypto has a decentralist nature, it cannot be controlled by a person or group of people, while the government tends to be the opposite.

   It's how you said it Shreek! These two are contradictory, and people will have to choose what will they use, if there's a choice,
governments can find a way to force people to use their crypto-currency!
   We will have to choose will we obey to their rules, or we will follow a decentralized way of thinking. I am for decentralization,
but that means that we will have to make some big changes in this world.

And if that is the case the governemnt will be choosing to ban crypto currencies on the country. They can't afford people using decentralized crypto currencies unless they are already taxing it(don't know how will they do that though). It would be an alternative to fiat/crypto that the government would issue but I think this is still far from us.

Countries with limited population as well as having good technology development have already begun to circulate their own cryptocurrency. I read about Switzerland and Korea having their own cryptocurrency. This isn't much into usage now, can expect increased usage in the near future. Another important thing is the taxation, it'll hard to tax every transaction which is also a reason for the delay of cryptocurrencies usage within the countries.

[FlightyPouch]

Countries with limited population as well as having good technology development have already begun to circulate their own cryptocurrency. I read about Switzerland and Korea having their own cryptocurrency. This isn't much into usage now, can expect increased usage in the near future. Another important thing is the taxation, it'll hard to tax every transaction which is also a reason for the delay of cryptocurrencies usage within the countries.

If they circulated their own crypto currency, I don't think that is a problem to them to levy a tax on it. You said it yourself, "their own crypto currency", meaning it is not a decentralized crypto, it is centralized. I don't know whether they are really using it right now or still in progress or in testing but if they did, I don't think there will be a problem.

[giammangiato]

I don't know if government+cryptocurrencies are good together, certely if they want obstacle the growing of the crypto they can. It's better have the government from our side but it goes again the decentralization !

[Fantastic33]

On my own opinion, i think the other government will not support cryptocurrencies because every country have their own currency and there's no law or policy about the use of these cryptos.

[Salauddin1994]

I think the governments of many countries will not support cryptocurrency because crypto is not under anyone's control and the government has not received any tax from now on they will not give legitimacy. Cryptocurrency is a digital currency which is not made by any government or central bank. It has to be created using the algorithms of cryptography through complex computer programming. And it can only be sold online this digital currency is created in accordance with the technology of cryptography.

[South Park]

Countries with limited population as well as having good technology development have already begun to circulate their own cryptocurrency. I read about Switzerland and Korea having their own cryptocurrency. This isn't much into usage now, can expect increased usage in the near future. Another important thing is the taxation, it'll hard to tax every transaction which is also a reason for the delay of cryptocurrencies usage within the countries.

If they circulated their own crypto currency, I don't think that is a problem to them to levy a tax on it. You said it yourself, "their own crypto currency", meaning it is not a decentralized crypto, it is centralized. I don't know whether they are really using it right now or still in progress or in testing but if they did, I don't think there will be a problem.

Many countries are looking into the idea of creating their own cryptocurrency but what they are doing is contradictory in nature, after all this market began with bitcoin and its main aim is decentralization which means that those coins that are created with the intention of competing against bitcoin will really have no chance against it because those coins are still going to have all the defects that you would find in the fiat system, which means that the governments knowing that they cannot stop bitcoin have decided to try to deceive people again just like what they did with gold.

[Indymoney]

On my own opinion, i think the other government will not support cryptocurrencies because every country have their own currency and there's no law or policy about the use of these cryptos.

Right now we have information that many countries trying to bring their own cryptocurrency but its not easy for all as they have no relative technology and way for implementing this but few are trying to bring stablecoins or centralized coins for controling this all like China is also working on this but this all still long way to go on other hand no country want to allow their peoples to use this all as they cannot control this all and peoples will feel more freedom which is not good for any government.

[perfect999]

Stop relying on your government to do everything for you, stop looking for who to blame and start searching for what to do and coming up with new ideas on how you can succeed and create job opportunities for others in your community.

I don’t have time to be looking up to the government or waiting for them to do things for me or provide jobs, they can never provide or favor the whole citizens, so I stopped relying on them and created my own business. The government for sure, and if you enter there you’re 90% likely to be corrupted. I have seen who start out good and once they get into politics they start playing all those dirty games.

[finaleshot2016]

Stop relying on your government to do everything for you, stop looking for who to blame and start searching for what to do and coming up with new ideas on how you can succeed and create job opportunities for others in your community.

I don’t have time to be looking up to the government or waiting for them to do things for me or provide jobs, they can never provide or favor the whole citizens, so I stopped relying on them and created my own business. The government for sure, and if you enter there you’re 90% likely to be corrupted. I have seen who start out good and once they get into politics they start playing all those dirty games.

Agree on that, we should not always rely on the goverment and always make your own move for your own success. But sometimes, during a pandemic like this, relying on a government is very common because it is a difficult situation that no one can handle it by themselves. We are also paying taxes and we should make it sure that it will benefit the country and helps its citizen to grow.

[bits4books]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

[deisik]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it

You can't force love

And you can't force people to use Bitcoin as a currency when you can use it as a mighty vehicle for speculation. There's simply no economic incentive why anyone would use crypto for daily needs if they can use fiat instead. Indeed, if they don't have fiat, they would have no other option but spend their coins. But it is rarely the case in real life, and even when it is, you can still live off volatility waves, i.e. sell bitcoins (or whatever) dear and buy them back cheap later, living on the spread

[bits4books]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it

You can't force love

And you can't force people to use Bitcoin as a currency when you can use it as a mighty vehicle for speculation. There's simply no economic incentive why anyone would use crypto for daily needs if they can use fiat instead. Indeed, if they don't have fiat, they would have no other option but spend their coins. But it is rarely the case in real life, and even when it is, you can still live off volatility waves, i.e. sell bitcoins (or whatever) dear and buy them back cheap later, living on the spread

This is the fundamental problem of the entire cryptocurrency and community. Historically, the tool created as a substitute for money is used simply to make money and to promote the growth of the "Fiat economy". And this makes me laugh every time to read another post about the fact that "cryptocurrency is the future" from a person who (I'm sure) just this morning or before going to bed spent some buying/selling to earn a little more dollars. These people don't care about the "cryptocurrency future". They are only interested in profits simply because they THEMSELVES do not SEE the POINT in using the same eth as a means of payment!
And it hurts me.

[SANihal02]

Cryptocurrency is a popular topic. Not only is this a different monetary policy, but it also frees us from the clutches of the government. This money is completely free from government control and bank charges. It is faster, more secure and can never be stolen or damaged and can be shared in any number. Another advantage of cryptocurrency is that it controls the digital economy with a high level of security. What's more interesting is that there is no need to cheat or cheat in transaction management through this system. Also managing these transactions takes less money than the banking structure or system. In the modern era, cryptocurrency is changing our economic system differently.

[FlightyPouch]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

[Janation]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

But most of us, I know wanted to use Bitcoin as an alternative currency.

Despite the urge to earn from cryptocurrencies, I think people are also wanting to use these to be able to send payments or create transactions almost instantaneously and vey convinient for all of us. Though the adoption is still at its early stage, I know it will happen in the future. This community would grow and the government won't do anything because at that time, it will be unstoppable. They may create their own but I think Bitcoin will still be the most expensive and most popular.

[cosmofly]

For me, cryptocurrencies should not be in our major economy. You're just talking about the benefits of using crypto in people's lives but you didn't know that was the trigger for rebels to rise. As crypto is applied in national finances, money laundering will become easier than ever and economic crimes will become more and more intense. This will result in a government full of corruption and the nation will go wild.

[South Park]

I don’t have time to be looking up to the government or waiting for them to do things for me or provide jobs, they can never provide or favor the whole citizens, so I stopped relying on them and created my own business. The government for sure, and if you enter there you’re 90% likely to be corrupted. I have seen who start out good and once they get into politics they start playing all those dirty games.

This is the right attitude and if the majority of people had it then we will have a smaller government that was responsible with their fiat currency and we will have a stronger economy because of it, unfortunately that is not the world in which we live, as time passed people have become over reliant on the government and instead of trying to solve their problems themselves they ask the government for help and governments are happy to oblige because they know this increases their power over the long term.

[Golftech]

I don’t have time to be looking up to the government or waiting for them to do things for me or provide jobs, they can never provide or favor the whole citizens, so I stopped relying on them and created my own business. The government for sure, and if you enter there you’re 90% likely to be corrupted. I have seen who start out good and once they get into politics they start playing all those dirty games.

This is the right attitude and if the majority of people had it then we will have a smaller government that was responsible with their fiat currency and we will have a stronger economy because of it, unfortunately that is not the world in which we live, as time passed people have become over reliant on the government and instead of trying to solve their problems themselves they ask the government for help and governments are happy to oblige because they know this increases their power over the long term.

That's the problem, it's created a situation where people  gives the political leaders a good chance to stay in power and corrupt the government, people shouldn't be relying that much and they should deal with this situation on their own. If we wanted a good governance we should start governing our own self.

[bits4books]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

Well, that's what I'm talking about! Already once again-people as always showed their true nature. They don't need a revolution they just need more greenbacks and a new iPhone and nothing more.
I think that Satoshi is not happy about it... from all these posts of "btc to the moon" "eternal growth" and so on. He created the future as opposed to the present and got the present without the future

[bits4books]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

But most of us, I know wanted to use Bitcoin as an alternative currency.

Despite the urge to earn from cryptocurrencies, I think people are also wanting to use these to be able to send payments or create transactions almost instantaneously and vey convinient for all of us. Though the adoption is still at its early stage, I know it will happen in the future. This community would grow and the government won't do anything because at that time, it will be unstoppable. They may create their own but I think Bitcoin will still be the most expensive and most popular.

The community you are talking about  was formed only around the cult of eternal growth and cosmic profits from btc and no more. God willing if at least 10% of the community wants and strives to use cryptocurrency as money and not as speculative shit to get even more fiat money. Sometimes I think it's all just a big joke and experiment. to create an alternative for people and come to the point that they don't need it.

[South Park]

I don’t have time to be looking up to the government or waiting for them to do things for me or provide jobs, they can never provide or favor the whole citizens, so I stopped relying on them and created my own business. The government for sure, and if you enter there you’re 90% likely to be corrupted. I have seen who start out good and once they get into politics they start playing all those dirty games.

This is the right attitude and if the majority of people had it then we will have a smaller government that was responsible with their fiat currency and we will have a stronger economy because of it, unfortunately that is not the world in which we live, as time passed people have become over reliant on the government and instead of trying to solve their problems themselves they ask the government for help and governments are happy to oblige because they know this increases their power over the long term.

That's the problem, it's created a situation where people  gives the political leaders a good chance to stay in power and corrupt the government, people shouldn't be relying that much and they should deal with this situation on their own. If we wanted a good governance we should start governing our own self.

Unfortunately this the scenario is getting less and less likely with each passing day, and one of the most important reasons for that is that people have accumulated so much debt over the years that when a financial crisis hits them they lose the small amount of wealth and assets that they accumulated and still owe money to the banks, they in turn try to get help from the governments and they are too happy to help those that they can knowing full well that this will increase the dependence of people in them and then they can pass whatever laws that they want creating a vicious circle.

[naikturun]

they won't help if they don't get the profit otherwise crypto should have been legal.
maybe they are still looking for a way to fully or for the most part be able to manage it somehow.
I know that legalizing the crypto economy might help but it will be difficult because it is against their wishes.

[erikoy]

they won't help if they don't get the profit otherwise crypto should have been legal.
maybe they are still looking for a way to fully or for the most part be able to manage it somehow.
I know that legalizing the crypto economy might help but it will be difficult because it is against their wishes.

Actually government could earn a lot in cryptocurrency but they are afraid.that of this system will.be known in their place other people might consider government to push through with having block chain in their funds. As we all know that most of the politician are corrupt and does not want to get blockchain in their way to do corruption activities. If blockchain will be introduce to the government pretty sure that all transaction will be in public and all things done is subject for scrunltinization and even imprisonment if the government official violates the law specifically it will be a plunder case.

[South Park]

they won't help if they don't get the profit otherwise crypto should have been legal.
maybe they are still looking for a way to fully or for the most part be able to manage it somehow.
I know that legalizing the crypto economy might help but it will be difficult because it is against their wishes.

Governments and cryptocurrencies are natural enemies this is why governments have been so slow to pass regulations on the market and for the most part those regulations go against the spirit behind it, but with the economic crisis being as big as it is now and with great possibilities that it will get even bigger I wonder if they are going to change their opinion about the market of cryptocurrencies and they will legalize it in order to try to raise some taxes out of it.

[iyamoxjhian]

I don't see positive result on this topic in terms of talking about this in my country..because I am seeing it as Government +  cryptocurrencies = Huge percent of taxations and Corruption. .its really depends on the kind of government we have..Unluckily, i think its not gonna give positive answer here in my country..There are so many greedy people sitting in politics that needs to eliminate first.

[hongchao123]

Government will recongnize crypto only if they will fully regulate it. Taxes, kyc, aml, centralization. Do we really want this?

[finaleshot2016]

they won't help if they don't get the profit otherwise crypto should have been legal.
maybe they are still looking for a way to fully or for the most part be able to manage it somehow.
I know that legalizing the crypto economy might help but it will be difficult because it is against their wishes.

Governments and cryptocurrencies are natural enemies this is why governments have been so slow to pass regulations on the market and for the most part those regulations go against the spirit behind it, but with the economic crisis being as big as it is now and with great possibilities that it will get even bigger I wonder if they are going to change their opinion about the market of cryptocurrencies and they will legalize it in order to try to raise some taxes out of it.

Actually it's not, the government is not recommending the use of cryptocurrency on the country but they're using cryptocurrency for economic growth. As far as I know, they're not against on its purpose, the feature of decentralization is what they're against because they will lose the ability to control money. The government is gaining taxes on local platforms and exchanges that are related to cryptocurrency so they're also benefiting from it. Another possible reason why the government doesn't recommend it is that we aren't still ready for making our society as cashless, there are many situations we should prioritize before that.

[Janation]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

But most of us, I know wanted to use Bitcoin as an alternative currency.

Despite the urge to earn from cryptocurrencies, I think people are also wanting to use these to be able to send payments or create transactions almost instantaneously and vey convinient for all of us. Though the adoption is still at its early stage, I know it will happen in the future. This community would grow and the government won't do anything because at that time, it will be unstoppable. They may create their own but I think Bitcoin will still be the most expensive and most popular.

The community you are talking about  was formed only around the cult of eternal growth and cosmic profits from btc and no more. God willing if at least 10% of the community wants and strives to use cryptocurrency as money and not as speculative shit to get even more fiat money. Sometimes I think it's all just a big joke and experiment. to create an alternative for people and come to the point that they don't need it.

For me it isn't a joke, it could happen.

I know that could be the reality, if it isn't, I don't care but I know it will. Even if that is just 10%, that is fine with me, that shows that there are a lot people that wanted to use Bitcoin like that. I can't blame those people since we opened our eyes that way, saying this I think you are one of them and I respect that perception of yours.

[slashz9]

I believe that cryptocurrencies should be used as money more often, not only for speculations. To successfully and sustainably launch cryptocurrency projects within society and the state, it is necessary to have a strong economy that is ready for a new principle of monetary circulation. If country have problems with the economy then people will use cryptocurrency to accumulate and make a profit and not just for the sake of paying as usual money. Think about it.

I also wanted to use bitcoin as a currency and not as an asset but that can't be removed from it because we all grew and knew bitcoin like that. Bitcoin is commonly known as a speculative asset rather than an alternative way to pay. Most of us bought this crypto currency in hope that we will be getting a profit from it and not the convenience from using it.

But most of us, I know wanted to use Bitcoin as an alternative currency.

Despite the urge to earn from cryptocurrencies, I think people are also wanting to use these to be able to send payments or create transactions almost instantaneously and vey convinient for all of us. Though the adoption is still at its early stage, I know it will happen in the future. This community would grow and the government won't do anything because at that time, it will be unstoppable. They may create their own but I think Bitcoin will still be the most expensive and most popular.

The community you are talking about  was formed only around the cult of eternal growth and cosmic profits from btc and no more. God willing if at least 10% of the community wants and strives to use cryptocurrency as money and not as speculative shit to get even more fiat money. Sometimes I think it's all just a big joke and experiment. to create an alternative for people and come to the point that they don't need it.

For me it isn't a joke, it could happen.

I know that could be the reality, if it isn't, I don't care but I know it will. Even if that is just 10%, that is fine with me, that shows that there are a lot people that wanted to use Bitcoin like that. I can't blame those people since we opened our eyes that way, saying this I think you are one of them and I respect that perception of yours.

however everyone has their own thoughts, if in the future bitcoin and alt will become a means of payment used all over the world it means people believe it, or if later it will not be used as a means of payment and only as an investment then there is no need to be a problem because people will choose how will the coin be.

[grabpopcorn536]

The problem with cryptocurrencies is that they are too transparent and free. The government cannot control all transactions between people and around the world. In some cases, the way the government controls the banks keeps the economy stable through exchange-rate manipulation tricks. If they have crypto regulation then they will increase taxes on those who own and force the declaration of crypto ownership. Or they will ban all cryptocurrencies and create their cryptocurrency.