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Author Topic: It is possible that bitcoin will use nowadays in cash less transaction?  (Read 834 times)
Wyne
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September 12, 2020, 01:19:01 AM
#1

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

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September 12, 2020, 01:33:57 AM
#2

You need to understand the reason behind the push for cashless society - and it's not the spread of germs through paper money. Governments want cashless society because it allows them to track everyone, banks and payment companies want cashless society because it's more profit to them. Advertisers want cashless society because tracking allows them to deliver targeted ads.

All those parties aren't interested in Bitcoin, because it doesn't allow them to achieve those goals, so Bitcoin would never be a part of it. You won't see governments telling their citizens to use Bitcoin instead of cash.

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Wexnident
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September 12, 2020, 02:03:42 AM
#3

They don't necessarily need to use Bitcoin, they can create their own and peg that to their fiat, and on their defense, they reason out mostly because of qol improvements, since a cashless society has a lot less bothersome issues after all, but as @hatshepsut93 said, they can also track them through everything they do, though they don't necessarily announce that they do such actions. Besides, I'd mostly describe the government as control freaks, though they have varying levels, like how China is compared to other countries, so I really doubt they'd be using BTC. As I said, they'd rather create their own, just look at how China's digital yuan is under works already.

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September 12, 2020, 02:14:49 AM
#4

You need to understand the reason behind the push for cashless society - and it's not the spread of germs through paper money. Governments want cashless society because it allows them to track everyone, banks and payment companies want cashless society because it's more profit to them. Advertisers want cashless society because tracking allows them to deliver targeted ads.

All those parties aren't interested in Bitcoin, because it doesn't allow them to achieve those goals, so Bitcoin would never be a part of it. You won't see governments telling their citizens to use Bitcoin instead of cash.

Cashless money is what people in society need to believe that bitcoin exist,even government do not believe in bitcoin because some of them are seeing it as an avenue to scam people in society, but is good to be paid with bitcoin but the problem is that not everyone have basic knowledge of cryptoccurrency and some don't really know the values.

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September 12, 2020, 02:51:09 AM
#5

I do not believe that governments adopt Bitcoin as a means of payment in order to carry out cashless transactions.
Governments are focusing on creating their own digital asset. We are probably the ones who adopt Bitcoin to use it as a means of payment.
Governments are showing a bit of a lag with Bitcoin, blockchain and digital technology.

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September 12, 2020, 03:40:46 AM
#6

You forgot to mention paypal, credit card, online fiat etc. Government only trust e-money pegged by their fiat with par 1:1. Many government even banned Bitcoin on their country (e.g. Pakistan, Bangladesh, Nepal [1]) and I don't think any government will adopt and use Bitcoin, especially Bitcoin is high risk due to high volatility.


[1] https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

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September 12, 2020, 03:47:23 AM
#7

You forgot to mention paypal, credit card, online fiat etc. Government only trust e-money pegged by their fiat with par 1:1. Many government even banned Bitcoin on their country (e.g. Pakistan, Bangladesh, Nepal [1]) and I don't think any government will adopt and use Bitcoin, especially Bitcoin is high risk due to high volatility.

I completely agree that there are other easier to use cashless payment methods. But a certain country's government doesn't necessarily need to adopt bitcoin or bitcoin to be completely legalized; what's mostly just needed is Bitcoin to not be illegal.

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September 12, 2020, 03:51:30 AM
#8

That's it, don't forget that there are still centralize electronic currencies that under-regulated by the government than bitcoin.
Besides, bitcoin has still had a problem of having heavy traffic or congested network during office day as we noticed.

Possible that bitcoin may use in cashless payment only those people who learn how to work this technology, others are preferred with digital money. If this bitcoin will confirm the transaction in just a few seconds or minutes, it could be good to use it as a mode of payment, I mean micropayment.

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September 12, 2020, 03:54:17 AM
#9

Being a community and bitcoin supporters, it is already being used as payment worldwide for specific use and for the merchants that are okay accepting it. But as for the government, they can't rely to a decentralized cryptocurrency.

There are already plans that have been on the news about creating their own digital cryptocurrencies. They'll only create fiat and migrate it into digital just like what we're having right now for each countries that has own local cashless payment methods.




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September 12, 2020, 04:37:23 AM
#10

If a society uses little cash, banks will benefit because they create numbers on the phone screens. The government will let banks carry less cash. I think Bitcoin is not a priority, but it can happen when individuals use mutual agreement to exchange.
In Asian countries, it is advisable to limit the use of cash and they are doing it. China is prominent among these countries.

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September 12, 2020, 05:21:51 AM
#11

Its possible. But it depends on the Country and their Governments who legalized it, with total adoption. On the other hand, Cashless transactions can be imposed without using Bitcoin, like here in our Country. We are currently practicing a new cashless method and introduce it to the smaller vendors and public markets where people usually go to buy foods and other necessities.
But somehow, using Bitcoin could be more beneficial and less hassle to people as well. And it can be easily made to several growing and fully digitalized cities and Countries.
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September 12, 2020, 06:30:23 AM
#12

Being a community and bitcoin supporters, it is already being used as payment worldwide for specific use and for the merchants that are okay accepting it. But as for the government, they can't rely to a decentralized cryptocurrency.

There are already plans that have been on the news about creating their own digital cryptocurrencies. They'll only create fiat and migrate it into digital just like what we're having right now for each countries that has own local cashless payment methods.

The problem is that in some countries their government don't want hear the name bitcoin because they refer their paper money  and coins than crptocurrency.
It's only bitcoin user's that know the values and can accept payment with bitcoin.

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BIT-BENDER
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September 12, 2020, 06:35:08 AM
#13

You need to understand the reason behind the push for cashless society - and it's not the spread of germs through paper money. Governments want cashless society because it allows them to track everyone, banks and payment companies want cashless society because it's more profit to them. Advertisers want cashless society because tracking allows them to deliver targeted ads.

All those parties aren't interested in Bitcoin, because it doesn't allow them to achieve those goals, so Bitcoin would never be a part of it. You won't see governments telling their citizens to use Bitcoin instead of cash.
The government is a big face of centralization, with cashless society they can easily freeze one account/block any transaction from that person.the cashless society can become an era of government bondage or dictatorship. If there is complete cashless society, banking sector would evolve/modify to it

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September 12, 2020, 08:25:43 AM
#14

Being a community and bitcoin supporters, it is already being used as payment worldwide for specific use and for the merchants that are okay accepting it. But as for the government, they can't rely to a decentralized cryptocurrency.

There are already plans that have been on the news about creating their own digital cryptocurrencies. They'll only create fiat and migrate it into digital just like what we're having right now for each countries that has own local cashless payment methods.

The problem is that in some countries their government don't want hear the name bitcoin because they refer their paper money  and coins than crptocurrency.
It's only bitcoin user's that know the values and can accept payment with bitcoin.
It's easy, They can't really get something out of bitcoin that's why bitcoin is their less prefered or sometimes hated as a payment method. Goverment knows that they can't get tax from it and then they can't take advantage of it. Some governments just preffer the old way "Banks" because they can control it under the government jurisdiction. But as a normal citizen, I can use bitcoin on a peer to peer transactions and it's not much an hassle for me if I can't pay my bills online using straight up bitcoin.

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cryptoperkele
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September 12, 2020, 08:55:52 AM
#15

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

Firstly, Bitcoin isn't "most popular digital currency in the world", Fiat money is already in a digital form when you use it with your debit card.

And cashless society has nothing to do with cryptocurrencies anyway, digital cash is been used to track the money as physical cash is only anonymoys cash right now, they want to get rid of it.

Bitcoin on the other hand will most likely be used as a store of value then smaller purchases until the scalability issues have solved and btc adopted.

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September 12, 2020, 09:04:24 AM
#16

They encourage less use of cash to limit the spread of the virus. People will, but that doesn't mean they're using Bitcoin as an alternative to other payment methods.
Bitcoin is only suitable for extremely low cost and secure cross border money transfers.
I think that for everyday consumption, they will prefer to use money transfer services through money transfer applications like credit cards, online banking ...

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September 12, 2020, 09:46:06 AM
#17

Use less cash and say that people use Bitcoin is unreasonable as there are many services from other money transfer apps. Bitcoin is just a form of money transfer, your reasoning is inconclusive.
And not all countries allow bitcoin as a means of payment. In our country, there is no regulation on bitcoin and nobody uses bitcoin for payment as it is banned. We can only negotiate with each other over Bitcoin.

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September 12, 2020, 10:45:49 AM
#18

The virus is only a pretext for them to rush even more the digital fiat and to push it through successfully. However, there are some quite significant issues they have to think about:


1. Privacy

I think this is the most important issue I'd have with the cashless society. It's not about hiding anything, but would you like your government to be able to ask you why you gave $10 to a little boy's account, who happens to be your son's best friend? Would you like your government to know literally every single thing you have bought and to be able to interrogate you about the source of all that money? Would you like your state to know exactly what your habits, preferences, vices etc you have? I would not.

2. Some people would not be able to accomodate with it

Think of old people who live right now in rural areas. There are a lot of them in my country. In fact, in Moldova, 95% of the rural population do not have toilets. Think of Africans whose life is just an unfortunate mess. How are these people supposed to accomodate with a friggin' digital currency?

3. The digital currency will not be Bitcoin, nor will it be any close to what Bitcoin is

This is just logical. The governments want to control, not to give more freedom than ever before. By adopting a pseudonymous cryptocurrency they'd have no control over, they'd start losing ground against us. They need a currency they can seize, freeze and modify its supply at any given time.

Besides the control part, we have to think about it: even if the government EVER wants to push Bitcoin as a national currency, would the current Bitcoin network be able to sustain txs from a large country such as the USA? I don't think so, but feel free to correct me if I'm wrong. On the other hand, we have enough intelligent devs to think of a way to make Bitcoin fit the right requirements for mass adoption.

4. They cannot create a public ledger, which means everything would be hidden

In other words, just imagine: if today we have money printers that are under supposed constant control and supervision, a digital currency under a government's control means the state could at any point inflate the currency within the click of a mouse. A matter of milliseconds until the supply multiplies. How do we know where each digital buck goes? At least the money they print today is physical and requires real materials (and yeah, I know a hundred dollar bill probably takes a few cents to be produced) rather than a click and some coding.



There are more reasons, but these are just the first that come up in my mind. Bitcoin as a national currency is irrealistic. It'll most likely never be one. They'll come up with their own. Otherwise, banks working on digital currencies wouldn't have been a thing - they would've just adopted BTC right from the start.
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September 12, 2020, 10:53:45 AM
#19

Use less cash and say that people use Bitcoin is unreasonable as there are many services from other money transfer apps. Bitcoin is just a form of money transfer, your reasoning is inconclusive.
And not all countries allow bitcoin as a means of payment. In our country, there is no regulation on bitcoin and nobody uses bitcoin for payment as it is banned. We can only negotiate with each other over Bitcoin.

Yeah, people who keep saying that obviously have never actually tried going out and using Bitcoin to do shit. I'm living in I guess what one might call first world now and it's hard enough getting some shops to accept a pin instead of cash, never mind whipping out my phone and asking if they accept Bitcoin!

Forget cashless first and focus on using it online instead. Then work your way up with LN in places that are already cashless.

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September 12, 2020, 11:05:05 AM
#20

Cashless transactions are more convenient nowadays. Services are being possible through online payments. But to think that this will be the main reason for mass adaptation of Bitcoin, is quite absurd. There are many digital currencies around the globe. Most of those digital currencies except cryptos including Bitcoin, are supported by different countries and are not having difficulties with market price stability. With that being given, if cashless transactions will be more promoted, I think it is too early still, for Bitcoin to be the main medium of cashless transactions also being given that cryptos are still not widely accepted due to the issues these currencies are having at this moment. But let us see once further developments occur.
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September 12, 2020, 11:13:07 AM
#21

Here in our country (Philippines) some of the places here are already using cashless payment method using gcash or credit cards mostly, but I've never heard bitcoin is being used in public markets or even in malls. An online shop here (shopee) is already accepting bitcoin as a payment method which is a good sign already.

In my perspective, using Bitcoin in cashless society is still needs a lot of support by the Government for it to be use by the majority of people in the community, just like other countries (Japan, Indonesia, and Venezuela),. without the fully support of the Government, this dream is still way out of reach.

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September 12, 2020, 11:28:46 AM
#22

It is right that many countries are imposing the system of cashless, but it isn't easy to see bitcoin will be used because that would need an agreement from the government. The government suggests people use credit/debit cards or install apps in people's mobile phones that will accommodate people to pay using their mobile phones.

Bitcoin is not yet become the most popular digital currency in the world because, in many countries, they already have their digital currency, which is converted from physical money to digital money. But there is a chance for bitcoin to be adopted in many countries as an alternative form payment, so people will have more options to pay what they buy.

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September 12, 2020, 11:33:57 AM
#23

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
It is good that the governments have started to think that using a cashless transaction would help their citizens to prevent COVID-19 from spreading. But I don't believe that bitcoin could be used as a payment method in public markets and malls because it takes a long time to confirm a bitcoin transaction, and bitcoin transaction fee is high. It is why people can't use bitcoin as a payment method; even the government would support it.

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September 12, 2020, 12:02:21 PM
#24

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
This is depend In which country you are talking mate,Just like in mine the government is asking people to at least try cashless living,
But the problem is Crypto is not that Popular in here so Only limited people are using this and also there are limited use of Bitcoin here.
though i believe that there are some more People had use Google to check what is Bitcoin yet the transaction did not increase that much.
Lets hope that our government will accept and adopt Bitcoin as a currency for more useful way of cryptocurrencies.

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September 12, 2020, 01:37:26 PM
#25

When you mean cashless payment, there are other options other than bitcoins. In our local, we have electronic wallets that we may cash in fiat money and use to pay our bills and in online shops. However, bitcoin as digital payments are also been used recently. If government wanted cashless, this options is also advantageous for future adoption and awareness. But, each government has different views and perspective about cryptocurrency being used as cashless payment.
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September 12, 2020, 04:32:42 PM
#26

It could be possible to make use of Bitcoin in doing cashless transactions nowadays that we are mostly relying on seamlessly fast transactions by using digital currencies due to certain reasons. Using Bitcoin as a cashless payment option could be possibly adapted into such countries where it is already legalized and massively adapted. But as for those countries that still do not get into legalization of using Bitcoin, there are other cashless options like mobile/online banking, using of credit/debit cards and wallet applications where bank accounts are linked to access funds to do cashless transactions. There is still a possibility to use Bitcoin to conduct cashless transactions but those were most likely possible for certain countries that allow such thing but for the others, it is quite impossible because they must first undergo certain legalization and adaption to do such.





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September 12, 2020, 05:50:17 PM
#27

If you can really survive for a month, or even a week by just using bitcoin in your country then its possible, what I mean is without hassle. I'm sure it will be hard for you to find a restaurant or a fast food chain that will accept bitcoin. Bitcoin needs to be massively adapted for it to to be use in a less hassle cashless transaction/ Its not possible in my country, and I think it will still impossible in yours too.

And the cashless transaction the government is talking about doesn't even mean bitcoin. It's the credit card, debit card, e-wallet and etc. There are also other reasons why they are requiring it, not just because of this virus.

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September 12, 2020, 07:23:20 PM
#28

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
Government doesn't made bitcoin or cryptos as an alternative to the fiat money, they never want it to be because this is decentralized means there is no central body to control it.And not many places we have to spend our bitcoins even in developed countries.

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September 12, 2020, 07:35:00 PM
#29

Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
A cashless society does not mean that it will be using cryptocurrency, netbanking and other forms of digital payments are cashless.
Suppose a government wants to adopt bitcoin as a form of payment, do you think the network can handle all the transactions in the present situation, so think again before coming out with age old dreams of the world transacting using a decentralized currency. The cryptocurrency market is always an alternative method of transaction and in the future we might see rapid changes if we have a better scaling solution that could sort all the present issues.
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September 12, 2020, 07:47:27 PM
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#30

Bitcoin needs to be massively adapted for it to to be use in a less hassle cashless transaction/ Its not possible in my country, and I think it will still impossible in yours too.
There are some countries where living solely on Bitcoin is possible. It's on a case by case basis.

Bitcoin will probably never become the right replacement for USD. Even if you wanted to be a rebel and completely stop using fiat, you'd get exhausted easily by the fees. These bucks you pay every 2-3 txs will sum up into a quite horrible amount. A lot of people would reject BTC as a daily-used currency specifically for this reason. For the average person, it's quite expensive to use.

You can use cash right now to purchase a $1 coffee without having to pay anything except time and patience. If you had to pay with BTC, you'll likely pay at least $0.5 more. Times 60 (as in two daily coffees), there goes $30 a month. Unnecessary spendings.
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September 12, 2020, 07:49:43 PM
#31

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

It is possible to use bitcoin as a currency as some countries are pushing cashless transactions because of the coronavirus that continues to spread. But it might actually depend on the country since there is a lot of cashless currency that could be used and at some point, it is used a lot than bitcoin in a country. There is also some country that pushes its own cryptocurrency or cashless currency. The cashless transaction could easily be implemented as long as the country is already adopted the technology needed for it because their are still a lot of countries that cannot do cashless transactions because they are still into fiat.

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September 13, 2020, 04:27:02 AM
#32

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society.

No, this is unlikely to be the case, the government haven't bought into the ideal that bitcoin is trying to sell. Sure they believe in cashless transaction but there are numerous ways to achieve that that would still give them (the government) control over our finances as that's only what they're after. They won't want to risk losing that control by making us be our own bank which can be easily achieved with bitcoin.

Centralized digital currency are the perfect currency for the government as they push towards a cashless society, that's the currency they'll be advocating for but then it's left for us citizens to choose which is best for us.

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September 13, 2020, 04:33:04 AM
#33

ever since Satohi sent the first transaction to Hal Finney back in 2009 bitcoin has been used as a payment in what you may refer to as "cash less transactions". and ever since 2010 (or possibly sooner) when bitcoin was used in first publicly known transaction to buy something physical (a Pizza) Laszlo Hanyecz it also conquered the offline world too.
the only thing left is mass adoption which will not happen fast because it takes time for the people's mentality of always using something centralized and having 0 control over their money to change first before they think about using the alternative money which is bitcoin.

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September 13, 2020, 05:59:19 AM
#34

Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

Many countries have already adopted this and those who have not yet will soon adopt this seeing that cashless transaction is a big help in times of pandemic, one of the positive things about this pandemic is governments has come to realize that they need an alternative ways to transact, that can be used in times like this, because we never know if this things like this will never happen.

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September 13, 2020, 06:08:32 AM
#35

There are some options for people to pay their expenses, cash, e-wallets, and crypto. With the pandemic, in my nation, people choose to use e-wallets more than before. The e-wallet growth is supported by lockdowns when people have to make their orders on online shopping sites, then shippers will buy and distribute goods for locals.

They can use cash to pay but as consequence of the fear of virus and pandemic, people try to use e-wallets more. It is a perfect chance for e-wallet providers to promote theirs and catch attention of people.

Bitcoin and crypto adoption are still low and the pandemic won't change much of the adoption. People have to be aware of bitcoin, crypto more before they can make acceptances and use cryptocurrency more. Another barrier is limited companies, services that accept bitcoin, and crypto. There are legal barriers too.

Fee and time to wait for confirmation (1 to 3 confirmations) are barriers. Lightning network off-chain can uplift the barrier but it has not yet been developed too good.

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September 13, 2020, 06:26:08 AM
#36

The governments are coming up with plans on launching central bank digital currencies. Bitcoin is uncontrolled, that's why it can't be used as the world currency.
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September 13, 2020, 06:29:17 AM
#37

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

I believe this is a discussion that has been going on now for years and it's still results to what the government takes as legal tender. The issue about other cashless means of payment is that they are fiat and not a conversion to fiat which is why they are allowed to be used in the economy other means of payment like PayPal or company specifics like the gift cards etc. So unless there is amendment to law to recognise bitcoin as legal tender or under the existing provisions there is allowance for it, it's not happening just yet.
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September 13, 2020, 06:36:56 AM
#38

ever since Satohi sent the first transaction to Hal Finney back in 2009 bitcoin has been used as a payment in what you may refer to as "cash less transactions". and ever since 2010 (or possibly sooner) when bitcoin was used in first publicly known transaction to buy something physical (a Pizza) Laszlo Hanyecz it also conquered the offline world too.

One could say that since Bitcoin is a peer-to-peer digital cash, its transactions aren't cashless payments in some sense. And I think it actually makes sense, because this cashless society is about controlling people, and Bitcoin was created as a reaction to that. We will never see governments and banks recommending and incentivizing the use of Bitcoin, when they say "digital payments" they will always mean bank payments.

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September 13, 2020, 09:44:15 AM
#39

Use less cash and say that people use Bitcoin is unreasonable as there are many services from other money transfer apps. Bitcoin is just a form of money transfer, your reasoning is inconclusive.
And not all countries allow bitcoin as a means of payment. In our country, there is no regulation on bitcoin and nobody uses bitcoin for payment as it is banned. We can only negotiate with each other over Bitcoin.

Yeah, people who keep saying that obviously have never actually tried going out and using Bitcoin to do shit. I'm living in I guess what one might call first world now and it's hard enough getting some shops to accept a pin instead of cash, never mind whipping out my phone and asking if they accept Bitcoin!

Forget cashless first and focus on using it online instead. Then work your way up with LN in places that are already cashless.
In my country, bitcoin is still not considered a means of payment and people don't care much about bitcoin. But where they don't accept cash, they also require a bank's payment card rather than bitcoin. No one advertises for bitcoin so it's possible that people don't know bitcoin much in my place.

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September 13, 2020, 09:48:49 AM
#40


I think it is possible, but it depends on them. Firstly, they need to have full knowledge on how bitcoin can affect their country if they will use it as their money. Though I think they will just create their own cryptocurrency backed up by their local currency.

Cashless society doesn't already mean that the society is bitcoin based.

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September 13, 2020, 09:55:49 AM
#41

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
-Social Distancing

Social distancing is making people to avoid gathering and meeting in the Market thus it's also good to avoid touching cash which is promoting Cashless transaction-
Such as-
-Cryptos
-UPI

Mostly it's happening because of panic and I don't see people using too much cash in the future

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September 13, 2020, 10:07:55 AM
#42

Possibly, yes, but there are some factors that we need to consider such as those areas who are under development.

Those indigenous areas are not that into the use of modern technologies so if we will regulate cash less transactions around the world, then probably they will have a hard time living and getting used with the new normal of transactions. This cash less transaction is only beneficial for those people who can afford it and who are knowledgeable to do use it.

Let other people make transactions where they are comfortable with so that there will be no people who will left behind.

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September 13, 2020, 10:17:39 AM
#43

You forgot to mention paypal, credit card, online fiat etc. Government only trust e-money pegged by their fiat with par 1:1. Many government even banned Bitcoin on their country (e.g. Pakistan, Bangladesh, Nepal [1]) and I don't think any government will adopt and use Bitcoin, especially Bitcoin is high risk due to high volatility.

I completely agree that there are other easier to use cashless payment methods. But a certain country's government doesn't necessarily need to adopt bitcoin or bitcoin to be completely legalized; what's mostly just needed is Bitcoin to not be illegal.

It is clearly depends in the government if they are knowledgeable about blockchain and regulation of cryptocurrency in the economy. It takes a lot of courage for the government to legalize bitcoin and adopt it in any transaction that they make just to make it become more popular in their country. Cashless transactions are much important right now due to the risk of getting the virus but like what I've said, it takes a lot of courage and willingness before the government engage to it.

Let's accept the fact that bitcoin is still in the process of development and it is not in its full potential yet.
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September 13, 2020, 10:34:48 AM
#44

do you think government adopt bitcoin as form payment in cash less transaction in our society?

it's complicated because you should see that the high volatility that the bitcoin has is a big problem. if a company pays wages to its employees and the price of bitcoin drops much minutes later, we would see a lot of demonstration in the streets of the workers' unions complaining of injustice against the worker.

If a novice trader in the bitcoin world accepts bitcoin and then the bitcoin price drops a lot, he will not want to accept bitcoin again

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September 13, 2020, 11:13:10 AM
#45

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
Of course, they definitely can, however, I don't think Bitcoin and other cryptocurrencies would be good to use as payment for the online transactions. First things first, cryptocurrencies are volatile yet unstable, its price could change for a single amount of time and that could lead confusion for everyone especially on those who don't have much knowledge regarding it. Consequently, this makes cryptocurrencies work more to be an asset for investment rather than to be a normal currency just like fiat. So basically, it is not worth to use it to buy for our commodities and such.

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September 13, 2020, 11:26:17 AM
#46

Well, cashless policies can't be achieve with Bitcoin because of it nature in term of volatility which all can see as a means of disadvantage for global adoption. It doesn't necessarily mean that they should adopt Bitcoin but they shouldn't make Bitcoin illegal for use. We'll understand the usefulness of Bitcoin and we're comfortably okay with the gradual adoption. Hope to see the technology solve some critical issues regard it fast transactions and volatility which solve can lead to global adoption.

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September 13, 2020, 11:49:46 AM
#47

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

It's very possible to be massively adopted worldwide because of the ongoing COVID-19 pandemic. We are beginning to adopt cashless transactions from here and there since there's a chance that the virus may spread on these paper bills. Right here in the Philippines, GCash is the most common method for QR code and cashless payments and were already adopted in SMEs, convenience stores, groceries, malls, etc. However, only a handful of the citizens are using GCash and still using the traditional paper bills.

When I buy something to eat or drink on Starbucks, Coffee Bean, etc., I start using cashless payments instead of paper bills. There come a time that more and more people would finally adopt towards cashless payments. This is just one of the positive sides of the pandemic, where we should adapt to the new normal by implementing cashless transactions.

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September 13, 2020, 12:21:34 PM
#48

Well, cashless policies can't be achieve with Bitcoin because of it nature in term of volatility which all can see as a means of disadvantage for global adoption. It doesn't necessarily mean that they should adopt Bitcoin but they shouldn't make Bitcoin illegal for use. We'll understand the usefulness of Bitcoin and we're comfortably okay with the gradual adoption. Hope to see the technology solve some critical issues regard it fast transactions and volatility which solve can lead to global adoption.
During this pandemic government imposing a cashless to lessen the spread of this virus. Well, it's impossible that the government will adopt bitcoin as we all know the issues when using this is the volatility of the price. I agree, let's hope in the future bitcoin will adopt by many as some people doesn't know bitcoin yet.

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September 13, 2020, 01:18:43 PM
#49

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

IMO, surely bitcoin can be a cashless payment system. but it's not an ideal choice for micro-transactions for your daily needs.
because of the fee, transaction time, etc.

however, bitcoin lightning network might be the solution to this problem.
Instant Payment, Scalability, Low Cost, Cross Blockchains, etc.
https://lightning.network/
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September 13, 2020, 03:09:57 PM
#50

They can use their money fiat, during this time most my transaction are using digital money. I just once in a while using cash transaction and itwas just because the merchant didn't accept the digital money.

And I think, it will hard thing to happen since most government now just include crypto currency as an investment place. They never take any decision to use bitcoin as mean of payment although there will be many people who want it.

So my perspective there will have a small chance for bitcoin to be used as mean of payment by the government. They will only use their money fiat to do that who clearly they can manage it. More than that with the high fee transaction that charge by bitcoin will only make they are reluctant to using it.
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September 13, 2020, 03:26:20 PM
#51

Yeah, people who keep saying that obviously have never actually tried going out and using Bitcoin to do shit. I'm living in I guess what one might call first world now and it's hard enough getting some shops to accept a pin instead of cash, never mind whipping out my phone and asking if they accept Bitcoin!

Forget cashless first and focus on using it online instead. Then work your way up with LN in places that are already cashless.
In my country, bitcoin is still not considered a means of payment and people don't care much about bitcoin. But where they don't accept cash, they also require a bank's payment card rather than bitcoin. No one advertises for bitcoin so it's possible that people don't know bitcoin much in my place.
[/quote]

And as I said, even those who do "care" about Bitcoin are still going to be speculators, traders at best. We're not going to be sharing this discussion with actual users... who definitely care about adoption and hence are using as much as possible.

So back to my point. You don't need to ask merchants to advertise Bitcoin. Or ask for more places to use it or promote cashless and crypto cards etc. That's what altcoin people do.

Bitcoiners simply Bitcoin. That use and increased demand won't go unnoticed. Then merchants will see the market and begin thinking, fuck it, yes, I want in on it.

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September 13, 2020, 03:39:51 PM
#52

During the pandemic most important of the countries encouraged cashless transaction to avoid touch which is the cause for the spread. As a result in my country few grocery store got started which is completely touch free. People are allowed one by one, necessary things can be taken from the shop. They need to scan the code and pay through any of the source.

In recent days statistics the usage of cashless transaction (cards, payment through mobile applications) have increased, but the usage of bitcoin or other cryptocurrencies on day to day life hasn't got increased.

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September 13, 2020, 04:36:33 PM
#53

In our country cashless society is starting to increase the number of users and during this pandemic people prefer using online payments. But there's still some people doesn't know bitcoin yet and some still choose the old payment system. In my opinion, there's a need to resolve first the fees that may be incurred to the users before adopting Bitcoin. A lot oft things to be considered first before bitcoin to be use.
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September 13, 2020, 05:07:29 PM
Last edit: September 13, 2020, 06:59:40 PM by Swordsoffreedom
#54


In recent days statistics the usage of cashless transaction (cards, payment through mobile applications) have increased, but the usage of bitcoin or other cryptocurrencies on day to day life hasn't got increased.

I agree with you completely. In my country, I have noticed an increase in cashless transactions. But the use or demand of BTC has not increased. I think the main reason is people haven't any idea about bitcoin. Even many people do not know what bitcoin is. second reason is, grocery store and online shop accept cards. But bitcoin is not used there. If the online shop and grocery stores would accept bitcoin, then the use of BTC would increase more.

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September 13, 2020, 08:34:12 PM
#55


In recent days statistics the usage of cashless transaction (cards, payment through mobile applications) have increased, but the usage of bitcoin or other cryptocurrencies on day to day life hasn't got increased.

I agree with you completely. In my country, I have noticed an increase in cashless transactions. But the use or demand of BTC has not increased. I think the main reason is people haven't any idea about bitcoin. Even many people do not know what bitcoin is. second reason is, grocery store and online shop accept cards. But bitcoin is not used there. If the online shop and grocery stores would accept bitcoin, then the use of BTC would increase more.

This is a vicious circle-stores do not accept cryptocurrency and therefore there is low demand for it, and low demand because no one accepts cryptocurrencies for payment)) It seems to me that some side should take the first step forward and start a dialogue on cooperation. It seems to me that stores should do this, and then bitcoin will adapt itself to the new environment and there will be almost no integration problems (or there will be absolutely minimal).
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September 13, 2020, 08:53:38 PM
#56

Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?

Bitcoin is not the most popular digital currency as fiat can also be used digitally even way back then. Fiat online transaction is by far the most used payment transaction during the pandemic. There are now lots of fiat payment processors, aside from banks, that can process payments instantly.

There is no problem with bitcoin to be used in digital transactions as in a crypto-free country, bitcoin can be used even without government's approval.

But the problem is:

- Only few merchants accepting bitcoin
- Slow transaction compare to fiat transfer that only takes 1-2 secs

Amid pandemic, bitcoin is still treated mostly as an investment. It will take at least a decade or even more to see bitcoin being widely used as a currency.

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September 13, 2020, 09:07:04 PM
#57

Well, I completely agree with the cashless transactions but this is not only on bitcoin. There are too many digital currencies that perhaps can able to pay and to make cashless transactions. Perhaps, --we are not yet ready about this that bitcoin is for that cashless transaction. I hope this Lightning network will help soon to make a transaction that less fee not only in bulk transactions. Another is, we should consider that there are only a few stores who accept bitcoin, perhaps not now, so there will be a good solution for this.

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September 13, 2020, 09:21:07 PM
#58

I think government will support having a cashless payment system especially now that we're in this kind of situation but i guess not with Bitcoin because i think it will make it more complicated to others, and we've been using cashless payment using QR scan with different mobile wallet and it's very convenient for me, but maybe Bitcoin payment will be introduced and supported by many in the near future.

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September 13, 2020, 10:08:27 PM
#59

The government has done the right thing by forcing society to use cashless payments, because this is one way to avoid
the spread of the corona virus. With cashless payment, at least there will be no physical contact. However, I am not sure
that the government will adopt Bitcoin as payment. Because there are still many cashless payment option, like internet banking,
credit card, paypal and other e-currency. After all, the government doesn't want to use Bitcoin because, it can't be controlled.

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September 13, 2020, 11:05:07 PM
#60

I think government will support having a cashless payment system especially now that we're in this kind of situation but i guess not with Bitcoin because i think it will make it more complicated to others, and we've been using cashless payment using QR scan with different mobile wallet and it's very convenient for me, but maybe Bitcoin payment will be introduced and supported by many in the near future.
Indeed, they are supporting it since before, credit card and debits card have already existed quite long...and PayPal comes next. But using Bitcoin isn't finally at its reach, not all countries are open for this opportunity but instead of banning it. But if this pandemic will help to change their mind and approaches cryptocurrency in good well, then this pandemic is the blessing in disguise for crypto. In fact, we can see it now that there is a massive Bitcoin adoption this means that the government openly accepting the changes and the demand of the community.

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October 03, 2020, 03:06:09 PM
#61

You need to understand the reason behind the push for cashless society - and it's not the spread of germs through paper money. Governments want cashless society because it allows them to track everyone, banks and payment companies want cashless society because it's more profit to them. Advertisers want cashless society because tracking allows them to deliver targeted ads.

All those parties aren't interested in Bitcoin, because it doesn't allow them to achieve those goals, so Bitcoin would never be a part of it. You won't see governments telling their citizens to use Bitcoin instead of cash.

Yaeh, I'm agree with you. Nowadays, statistically cashless transaction increase but cryptocurrencies or bitcoin has no involvement on that part. Maybe governement is looking forward the disadvatage of using crypto or bitcoin in cashless transaction.

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October 03, 2020, 03:28:44 PM
#62

I think government only want a cashless transaction as long as they can still have the authority over it. It means they will allow  Centralized cashless transaction like already exist debit and credit card by the banks, paypal and other like this. But hoping that one day they will also allow bitcoin as cashless transaction for easy and safe transaction against viruses. Although bitcoin already used in some online transaction like bills payments and buying loads but still it's not enough.

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October 03, 2020, 03:32:21 PM
#63

I think government will support having a cashless payment system especially now that we're in this kind of situation but i guess not with Bitcoin because i think it will make it more complicated to others, and we've been using cashless payment using QR scan with different mobile wallet and it's very convenient for me, but maybe Bitcoin payment will be introduced and supported by many in the near future.
This year should be a adoption time for many since there is a need for cashless transactions and some mobile banks were having problems catering the services like in my country wherein banks always scheduled maintenance due to demand of online transactions, many sees it now using crypto to do transactions better safer and convenient as we can receive the money in a seconds, though fees maybe higher now

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TedMosby
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October 03, 2020, 06:36:34 PM
#64

Cashless transaction to avoid physical contact nowadays  Grin
But with the bitcoin transaction confirmation time, you will need to wait longer on the spot.
I wish people start accepting bitcoin lightning network for faster and cheaper transactions.

But IMO, centralized wallet will be still the first choice for cashless payment method.
Or soon CBDC maybe.
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October 04, 2020, 12:20:45 AM
#65

I don't think that's possible. This is only possible where there is paper money. The government has done a lot to help the people in their country's corona situation by doing this. This is currently almost impossible to do in the case of Bitcoin. There are still many countries that do not approve Bitcoin for their country, They declared the use of Bitcoin illegal for there country people.
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October 04, 2020, 01:39:47 AM
#66

I don't think that's possible. This is only possible where there is paper money. The government has done a lot to help the people in their country's corona situation by doing this. This is currently almost impossible to do in the case of Bitcoin. There are still many countries that do not approve Bitcoin for their country, They declared the use of Bitcoin illegal for there country people.
It seems so, and it will still take a while for bitcoin to become legal or become a state-approved transaction tool.
and various cases of bitcoin make the government hesitant even some countries ban it and that will make bitcoin take longer to become legal, and as long as I can still use bitcoin individually and make any transactions by converting it into banknotes I feel grateful and more luckier than nothing.

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October 04, 2020, 03:32:50 AM
#67

I don't think that's possible. This is only possible where there is paper money. The government has done a lot to help the people in their country's corona situation by doing this. This is currently almost impossible to do in the case of Bitcoin. There are still many countries that do not approve Bitcoin for their country, They declared the use of Bitcoin illegal for there country people.
It seems so, and it will still take a while for bitcoin to become legal or become a state-approved transaction tool.
and various cases of bitcoin make the government hesitant even some countries ban it and that will make bitcoin take longer to become legal, and as long as I can still use bitcoin individually and make any transactions by converting it into banknotes I feel grateful and more luckier than nothing.

Bitcoin legalization is another thing, but does majority of the crypto enthusiast or Bitcoin enthusiast are willing to spend their cryptos to buy essential and luxury stuff?
I think no, as majority of us considered Bitcoin as a store of value and an asset that'll give us folds of profit in a long term perspective.
This is the area where Bitcoin struggles for mass adoption. People aren't using Bitcoin as a currency, though there were few who does, but many aren't.
This is also the reason why some of the merchants stop accepting Bitcoin or crypto as it lacks usage.

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October 04, 2020, 03:40:53 AM
#68

I think bitcoin as cashless payment would be a great idea for a country, it will help them to avoid the possibility of spreading the virus and it will also help them to track any good transactions of every citizen, they can also track some criminal activities because of cryptocurrency unless those criminals are using monero. I am hoping that these things would also be implemented in our own country because it is really helpful, we don't need to go for any banks to process some of our transactions because we can do it only on our home.
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October 04, 2020, 04:14:58 AM
#69

Bitcoin, no doubt used in many e-commerce sites, to make online payments, but if you see it as cashless way of payment method, then it cannot be possible.
The simple reason for this is the volatile nature of the coin, the price fluctuates a lot, and this will not help to maintain the 1:1 rate.
Moreover there are many countries which already banned Cryptos.
So it's useless in debating about the fact, that it can be added as a cashless method of transaction.

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October 04, 2020, 04:26:34 AM
#70

It is not just crypto but other online payment as well it could really help us to avoid having physical contact to keep our own or our house virus free.
I think it would be a good idea to use one right now I started paying through online wallet or online banks if the store accepts those kind of payment it is easier and faster compare to Fiat because they doesn't need to count for our change when we pay with higher bill.
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October 04, 2020, 10:45:28 AM
#71

I think bitcoin as cashless payment would be a great idea for a country, it will help them to avoid the possibility of spreading the virus and it will also help them to track any good transactions of every citizen, they can also track some criminal activities because of cryptocurrency unless those criminals are using monero. I am hoping that these things would also be implemented in our own country because it is really helpful, we don't need to go for any banks to process some of our transactions because we can do it only on our home.
But the problem is, only a few countries adopt the usage of cryptocurrency so it's very impossible to implement bitcoin as cashless payment. It's a great idea but hard to implement.
I doubt that it will become helpful because some aren't techy enough to control a simple mobile app.

Regarding on criminal activities, those criminals will obviously use bills for their crimes to avoid tracing.

Only huge amount of money are being done through online because they can't hide those money.

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October 04, 2020, 03:50:26 PM
#72

I don't think that's possible. This is only possible where there is paper money. The government has done a lot to help the people in their country's corona situation by doing this. This is currently almost impossible to do in the case of Bitcoin. There are still many countries that do not approve Bitcoin for their country, They declared the use of Bitcoin illegal for there country people.

With or without government restrictions. Bitcoin has been and is still being used as a means of payment between people in the cryptocurrency community. In a transaction, the most important thing is trust, comfort and agreement between the seller and the buyer. Both sellers and buyers already know the legal basis and risks of transactions using bitcoin. As long as the goods purchased are paid for in accordance with the agreement, whatever form of money is not a problem along with the existing conveniences, starting from exchangers to other online financial platforms.

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October 05, 2020, 12:49:51 AM
#73

I don't think that's possible. This is only possible where there is paper money. The government has done a lot to help the people in their country's corona situation by doing this. This is currently almost impossible to do in the case of Bitcoin. There are still many countries that do not approve Bitcoin for their country, They declared the use of Bitcoin illegal for there country people.

With or without government restrictions. Bitcoin has been and is still being used as a means of payment between people in the cryptocurrency community. In a transaction, the most important thing is trust, comfort and agreement between the seller and the buyer. Both sellers and buyers already know the legal basis and risks of transactions using bitcoin. As long as the goods purchased are paid for in accordance with the agreement, whatever form of money is not a problem along with the existing conveniences, starting from exchangers to other online financial platforms.
Everything has got restrictions and the law. When government doesn't profit out of it, then law/legal structure will be created in such a way to restrict the usage of cryptocurrencies. So, based on the trust, convenience and ease transactions were made on mutual understanding. I wish the low volume transaction makers should also benefit out of it, because for a hospital bill I paid with cards and got deducted with a transaction charge of around $7.5 for bill amounting $400. In such a value of transaction with bitcoin, it also adjusts transaction fee almost the same.

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October 05, 2020, 06:16:52 AM
#74

It is how it should be but people see it more as investment rather than cashless transaction.
And when it comes to cashless transactions they would prefer to use banks or other online payment instead of paying with their crypto.
I don't think majority of the people who have crypto bought it for that purpose the bought it to gain profit not to use for a cashless transaction.
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October 05, 2020, 06:40:16 AM
#75

Essentially, if we are talking about cashless society, bitcoin is an ideal currency for cashless transactions. However, its use will not be forced by any government, they are not going to adopt bitcoin even if its advantages during pandemics are obvious almost for everyone. You may be wondering why an ideal currency is not equaly ideal for everyone. It is mostly because of the fact that cashless society per se is not for the preventing the spread of virus of whatever kind. Virus is just an excuse. Almost all severe restrictions that have ever been applied are not for your protection, but for controlling you. With bitcoin it is just a lot easier to avoid being controlled, that is why it will not be adopted by governments.

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October 05, 2020, 10:02:09 AM
#76

I think so, people will buy bitcoin as digital money and online payment are getting more and more popular, and it should be, because money in the future should be digital not an paper, it's just matter of time.

Do you think about that? Honestly, it's unlikely for me to imagine that the future of our societies' money system to be digital at all. I mean, not all will be able to adjust on this kind of system. Probably most of the people in our world can but the others should not be left unless they don't allow themselves to have a digitalized monetary system even their governments are trying to help them out. 

Nowadays, we can already say that bitcoin took a huge step to be some aid for some people's aim/dream to have a cashless society, which aims to be used globally. And in this times of pandemic, this is a big help to prevent more transmission of virus.

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October 05, 2020, 11:23:53 AM
#77

I think so, people will buy bitcoin as digital money and online payment are getting more and more popular, and it should be, because money in the future should be digital not an paper, it's just matter of time.
I think the world needs more time to use bitcoin as digital money. Besides that, people in many countries now have another option to use digital money, which is not bitcoin because many countries now join with third parties such as financing applications to help their members pay the transaction using the applications. So people now prefer to use that digital money than the crypto. But I am sure in the future, people will realize that the crypto can also be used for the payment system, and we need to be patient.

Meanwhile, on the internet, merchants are trying to apply the crypto as the payment, so people who have crypto can try to pay using the crypto. If that can grow, we will see a new payment system on the internet, and maybe that can impact the offline store worldwide.

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October 05, 2020, 12:49:29 PM
#78

BTC will increase in adoption from a cashless society, but not because of governments adopting it. It will see more usage as people want privacy and uncensorable transactions.

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October 05, 2020, 01:13:37 PM
#79

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
well Bitcoin and cryptocurrency is far from being used by the whole world because many countries are still against this and also there are other online payments that available in any countries so why need to have Bitcoin if they can have their own system?
this is the mindset of other government for not letting bitcoin enter their economy.
BTC will increase in adoption from a cashless society, but not because of governments adopting it. It will see more usage as people want privacy and uncensorable transactions.
lol if the government will not adopt bitcoin then this cashless society will never happen in all parts of the world though there are some that might  be .

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October 05, 2020, 02:27:49 PM
#80

I do not believe that the government adopting cashless policy means the government is going to adopt bitcoin and other cryptocurrencies. The concept of cashless policy is to make transactions without the use of cash and it has been in existence for quite a while now even before bitcoin gained this much popularity.
It is important to note that cashless policy is exactly the reason there have been credit cards, bank transfer and even the use of POS. If cashless policy can be enforced using the aforementioned methods, then the government has no reason to adopt bitcoin. Another reason the government won't adopt bitcoin so readily is because transactions can be tracked using the methods I mentioned earlier and not with bitcoin. The government wants to be in control of our money and bitcoin does not give them this advantage.

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October 05, 2020, 03:02:56 PM
#81

I think it is impossible that government will adopt bitcoin or any other form of cryptocurrency, first is that bitcoin is a currency that has no stable value which means it will be difficult to implement, second it is because they will prioritize in the currency in their country to benefit them.
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October 05, 2020, 03:14:13 PM
#82

Nowadays government thinking is a cashless society to avoid corona virus spread out to the community or society. It is possible that the bitcoin will used in different transaction? Many country nowadays are imposing the system of cash less basis of any transaction. Specially, particular in buying commodities in the department store, petroleum product in gasoline station. even in transportation government impose a cash less payment. Since bitcoin is one of the most popular digital currency in the world, do you think government adopt bitcoin as form payment in cash less transaction in our society?
I wish what you said would be true but sadly it isn't because the many Governments are against bitcoin which is why they are not legalizing it in their countries.
The motive for Governments encouraging cashless transactions is different and I don't think they will approve bitcoin as a payment method any time soon.
Bitcoin is to track and it's volatility is currently high for payments and this is why many merchants don't prefer bitcoin as a payment method.
Governments will only encourage their fiat payment methods for digital transactions now but as transactions get digital in future we might have the chance to see bitcoin as a payment method.

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plvbob0070
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October 05, 2020, 03:51:34 PM
#83

Actually, I just recently saw in our local news that the government is suggesting a cashless way of paying private companies employees because they think it will help to lessen the possibility of getting infected by the virus. However, things they mentioned in adapting the cashless method are more on banks, digital transactions, and e-wallets, and they didn't even mention crypto or bitcoin. I think when governments talk about cashless transactions, they focus more on those options which are centralized, unlike bitcoin so I think it doesn't mean that they will be more open to bitcoin since it still depends on how they view crypto.
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October 05, 2020, 04:11:39 PM
#84

I'm not so sure the government wants this cashless policy to avoid the spread of covid-19 even if cashless payment is one of the most convenient system of payment right now,i believe they just want it for themselves, so that they can be able to track and monitor everyone's daily transactions, and I don't think the government will ever consider using bitcoin to make everyone adopt the cashless policy,they hate it, since they can't regulate it, everything about crypto is a scam to them that's why bitcoin is strictly prohibited in most parts of the world,so if they will ever consider the cashless system of payment I believe they will use only centralized electronic currencies that are been regulated by the government, but certainly not bitcoin.
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October 05, 2020, 04:48:20 PM
#85

Actually, I just recently saw in our local news that the government is suggesting a cashless way of paying private companies employees because they think it will help to lessen the possibility of getting infected by the virus. However, things they mentioned in adapting the cashless method are more on banks, digital transactions, and e-wallets, and they didn't even mention crypto or bitcoin. I think when governments talk about cashless transactions, they focus more on those options which are centralized, unlike bitcoin so I think it doesn't mean that they will be more open to bitcoin since it still depends on how they view crypto.

That is indeed a fact. Most government will choose using centralized currency rather using decentralized one. They can't stop people to use bitcoin as an alternative way of transactions though. Unless they will strictly regulate bitcoin transactions upon their governance. As of these days, there's no way that government will promote bitcoin as they don't get any from it, also unless if there are already laws for it, or taxes had been implemented. First and the ultimate choice is to use their own fiat which is digital and is backed up by their national banks. That's how I see this matter. Bitcoin has been used by people for cashless transactions, even before the pandemic.

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October 05, 2020, 05:24:59 PM
#86

Before Bitcoin can be used as a transaction widely within a country, it needs to study on how the circulation of this Bitcoin would happen since they would also apply tax on it. However, there are no news regarding this kinds of advancements and we should just stay aware that this could happen.

What is more possible is the fact that transactions can be cashless but in their own currencies first since its more available locally and easier to implement.

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October 05, 2020, 05:59:34 PM
#87

First of all, cashless transaction is the main goal for the future. There are already so many people who prefer credit cards etc. instead of cash. Governments aim to create their own digital currency and make their people use it. But I don't think governments will prefer Bitcoin for that purpose now. Because in a situation like that, governments won't be able to control Bitcoin and they also won't be able to track people's activity.

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October 05, 2020, 06:56:44 PM
#88

     While your reasoning for a cashless society using bitcoin may be a bit plausible at these times,  I really do not think that it is acceptable or would gain agreement from the majority since even if people wanted a cashless society, the government can find ways to provide this without even thinking of using bitcoin. And this is obviously because governments mostly hate bitcoin and it's uncontrollable nature.

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October 05, 2020, 07:22:36 PM
#89

If government will implement it then why not as bitcoin and other cryptocurrencies are created to do this kind of transaction, a cashless society. But most of the country
will only use it if they can gain anything from it like they can get a tax or a fee coming from the transactions that were being created in daily basis.

Therefore I cannot say that there will be government that is willing to use it not unless they can gain something from it.

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October 06, 2020, 10:33:09 AM
#90

 I don't think BitcoinBTC will be used for daily life. Also, Bitcoin is almost beyond tracking. The government won't allow a currency which they can't track. For the cashless transaction, we need stable currency. Bitcoin is not stable. You don't want to lose 1000$ in 30 minutes in half an hour. Remember, Bitcoin has this type of history. So we need stable currency for making cashless society. Using Blockchain based currency is a great idea.

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October 06, 2020, 03:48:47 PM
#91

I am really not so positive about bitcoin being used in a cashless society. I think it is more complex than that. Governments and the Financial Sector wanted something that they control somehow, they will be able to track down, and be able to control. Imagine if bitcoin is used to buy weapons and the government is not able to trace the said transactions then they won't be able to catch the culprit. They don't want that so it will not be bitcoin that they will accept but a whole new currency system altogether.