Do you think at some point government will change its stand and adopt Bitcoin?

[rat03gopoh]

That will automatically remove the fantasy of privacy in btc when the government eventually decided to support btc don't you think?

I mean which government in it's control nature will adopt a decentralized technology where they will lose the ability of control over it's citizens? They will most likely centralized it. And you know when that happens kyc is a must for you.

If interacting with the bitcoin network forever doesn't require user kyc, then external policies won't change its decentralized essence. So let the government try as much as they can, abolish the bullshit policies or keep all bitcoiners legally criminal.

[1714770662]

1714770662

[nelson4lov]

People who care about making money often change their stance on Bitcoin if they start out as skeptics.  But those who care about controlling the populace, like governments, won't be able to accept Bitcoin fully.  Bitcoin reduces the power of governments to control and surveil their citizens and gives power back to the ordinary people. 

The only reason the El Salvador government likes Bitcoin is because there's an even bigger power, the IMF, trying to control them.  Smaller nations with struggling economies might see limited government approval for Bitcoin, but beyond that, I don't expect much other adoption.

You just hit the nail onnthe head. Government of developed countries are always power hungry and won't ever see the need to adopt bitcoin since they'd have to relinquish their control over financial resources. Government exists because they can deploy resources at will or even print a shit ton of the country's native currency. This isn't possible with Bitcoin since it's capped.

@OP, Government stands may never change. Maybe a future is coming when a large number of people dumped their native currency for Bitcoin by then they'd have no chance than to join the train. Until they, they have nothing to gain. The reason Blackrock and JPMorgan has begun offering Bitcoin and crypto products is because they don't want to miss out of the gains since the Bitcoin and crypto userbase tends to multiply especially in a bull market and we'd have several of those.

[Asiska02]

The government may seem aggressive today on Bitcoin and cryptocurrency adoption, and tomorrow change their stand due to high pressure and demands from their citizens to use a technology like Bitcoin in the coming years.

Pressure from citizens can make the adoption faster, but we all know how powerful the government is and they always stand on their words no matter the pressure they receive as far the policy will not favour them or make them make more money as they wish. They want a centralized system not a decentralised one.

If BlackRock CEO criticized Bitcoin in the past and later turns to embrace what he kicked against, the government may do so because the government is run by friends of these individuals or people who own these companies, and they may have influence When it comes to government matters.

This has to do with personal view and opinion about bitcoin and where they stand to benefit from it without government interference. They might even be the face of government investing into bitcoin in disguise for their benefit all. I still feel some optimism in the adoption, but not very soon.

El Salvador is a leading example of government in the front run of Bitcoins adoption and when more countries' governments follow suit in the race, other ones will not want to be left behind, they too will join the queue.

I agree with this entirely but why we haven’t observed massive adoption by other countries is the state of El Salvador in the face of other countries, they are third world countries and a developing one for that matter. If it was a first world country that adopted bitcoin, we’ll be far from still discussing about adoption but now on how to improve its use and conveniency to all.

[Wildwest]

Currently bitcoin is known by everyone, both small communities and people who have been influential in the field of investment, when the price increased last year, the government has monitored how bitcoin performs, and to adopt bitcoin has long been planned but until now there has been no definite conclusion, the government's confidence there are so many considerations in this regard, Because Bitcoin is fluctuating in value so it is very difficult to regulate, but for the future we do not know what this will happen.

[FrozenBit]

In different contexts, we have perceptions that evaluate things sometimes are very contradictory, but looking back, things that are consistent with the trend of social change will always be accepted over time. Like another story I read somewhere on this forum, about the same person but a 5 year old child will be completely different from an adult. And with bitcoin, when people realize its potential can be applied in life, they will also accept themselves differently, as many people have seen it before as an environment containing a lot of criminal activity and up to now. At crypto development has brought insights and applications to a still very young market with a lot of unexplored potential. I have no doubt, because it actually benefits me personally and I can help others, so I fully agree with its development.

[isaac_clarke22]

I think there's a possibility of the government becoming soft in the area of accepting to adopt Bitcoin because despite the fact that there are individuals who are of the impression that it's a sham, a front for crime and not safe, there's those who see it as a pathway to financial freedom and a way to maintain privacy.
With the way hardcore Bitcoin atheists are suddenly eating their words, it's no surprise that the move to change their stand would happen sooner rather than later.

It's not going to be that easy for them and it should be better off that way anyway. We're here because we don't want any authorities to regulate how we handle our money and we wanted privacy not just from the government but to any other strangers around the internet.

Not sure if "Bitcoin atheists" is really the right word for them since it's either they wanted privacy on their own coins or they're relying on a third party. I don't care if there are those sorts of "Bitcoin atheists". It's up to their own anyway.

[kryptqnick]

I think many are changing their minds over time, as Bitcoin keeps growing and gaining more attention. I think it's way less common to say Bitcoin is a scam than it was around 5 years ago. Instead, weaker stances are taking its place, such as that mining is bad for the environment or that many can lose their finds due to volatility.
But as for governments, I think it depends on a particular country, what we count as pro-Bitcoin, and which authorities we consider. My country is thankfully largely pro-Bitcoin, although it's nowhere near El Salvador.

[Dr.Bitcoin_Strange]

Currently bitcoin is known by everyone, both small communities and people who have been influential in the field of investment,

Nope, I think you are wrong. Bitcoin is known by quite a lot of people, by some people in most cities in some countries around the world, but not everyone in all the countries really knows about it. Even some people who know about it are negatively impressed from how some real Bitcoiners feel about it. Some people see Bitcoin as a scam, and some people see it as something that is not real. Even in my country, there are a lot of people who don't even know what Bitcoin is. I was showing a friend of mine some fractions of Bitcoin in my wallet, and what he asked me was, How can I even sell this thing I call Bitcoin and convert it to real money? He was so sceptical, like he wanted to see me convert some Bitcoin to fiat and send it to my bank account, and I told him I didn't have the interest to do such a thing that day. He thought I was lying because he said that there are highly respected individuals who have the real Bitcoin, and what I have is not Bitcoin. So, in some parts of the world, there is still a lot of elusions, delusions, and confusion that most people have about Bitcoin.



Cheers 🥂, Dr.Bitcoin_Strange 👺👺

[bittraffic]

I think many are changing their minds over time, as Bitcoin keeps growing and gaining more attention. I think it's way less common to say Bitcoin is a scam than it was around 5 years ago. Instead, weaker stances are taking its place, such as that mining is bad for the environment or that many can lose their finds due to volatility.
But as for governments, I think it depends on a particular country, what we count as pro-Bitcoin, and which authorities we consider. My country is thankfully largely pro-Bitcoin, although it's nowhere near El Salvador.

Whatever the stand of Blackrock is where the stance of the US government since it's their biggest money maker. And CEO Larry Fink already express Bitcoin is digital gold. One side of the story is that China's BRICS money is about to launch in 2 weeks and is backed by Gold. and because the US is not going back to the gold standard, the US will be going for Bitcoin-backed currency.  I can only say all those lawsuits are BS and Gensler is one of those BS, just wearing my tinfoil cap.

[southerngentuk]

We live in a world where traditional currencies are in jeopardy. Countries are printing too much money, not just the US. So here is an opportunity for bitcoin to take advantage of this dire situation unfolding. Even if the government wants to seize complete control over bitcoin and all cryptocurrencies, as long as their people are still using them for whatever purpose it is, that is better than ever running out of them. Still being used will still exist, so let's hope that in the not too distant future we can live in a bitcoin world true to the original purpose for which it was created.

[uneng]

We live in a world where traditional currencies are in jeopardy. Countries are printing too much money, not just the US. So here is an opportunity for bitcoin to take advantage of this dire situation unfolding. Even if the government wants to seize complete control over bitcoin and all cryptocurrencies, as long as their people are still using them for whatever purpose it is, that is better than ever running out of them. Still being used will still exist, so let's hope that in the not too distant future we can live in a bitcoin world true to the original purpose for which it was created.

When fiat currencies fail, governments launch an economical plan which aims to replace the currently fiat currency by a new one, which has a new name and number of zeros reseted. For people from first world countries it may sound strange, because they deal with the same fiat currencies for decades or centuries already, taking Dollar, for an example. But in third world countries every few years or decades we have a new currency, trying to fix the economical mess the country finds itself in.

So, it's really unlikely a government will try to use Bitcoin as a solution for the local economical crisis, as they can simply create a new fiat centralized currency under their total control. Especially now, as they incorporate the features of Bitcoin they think to be interesting to their CBDCs, while completely ignoring BTC as currency and its decentralized feature they hate so much!

[Franctoshi]

Of course, yeah. What is a government, after all? For all intents and purposes, it is nothing but the leader or leaders that are in it. If Biden, for example, is against Bitcoin, it doesn't mean the US government will remain anti-Bitcoin forever. What if RFK Jr., a Bitcoin supporter, wins in the next election? The US government might change its stand and support Bitcoin.

The stand of the government is nothing but the stand of its leaders. My government was pro-US and then it turned anti-US and then pro-US again. And that's because elections give us different leaders.

I agree with your point, it sometimes depends on the kind of leader that a particular country or government has in place at a given time that will determine if that government will be Anti-Bitcoin or Bitcoin friendly. What brought El Salvador to where they are today is that have Bitcoin enthusiasts as their present and such a scenario may occur in the future.

[Ale88]

The government may seem aggressive today on Bitcoin and cryptocurrency adoption, and tomorrow change their stand due to high pressure and demands from their citizens to use a technology like Bitcoin in the coming years. If BlackRock CEO criticized Bitcoin in the past and later turns to embrace what he kicked against, the government may do so because the government is run by friends of these individuals or people who own these companies, and they may have influence When it comes to government matters.
El Salvador is a leading example of government in the front run of Bitcoins adoption and when more countries' governments follow suit in the race, other ones will not want to be left behind, they too will join the queue.

Let's have a general discussion, what is your standpoint?

Third world countries may follow El Salvador's example and actually adopt bitcoin but countries that already have "strong" currencies like US dollar, euro, rmb, yen, etc it's a totally different story. They won't be against bitcoin, maybe bitcoin may even be used on a large scale but I see it unlikely that it could replace a currency the government has total control over it. They would lose a lot of power.

[darkangel11]

What government are we talking about? If you ask whether the US government will do it, I doubt it. Will some other countries do it, the way El Salvador did? Of course they will.
The problem with bitcoin at this point is that it's functioning more like a payment system for large transactions, so it can be used along, but not instead of fiat money. Also, replacing a fiat system with bitcoin would require that the government has to provide necessary infrastructure for all its citizens to be able to transact, so everybody would at the very least need a phone with Internet access. Most countries cannot do that.
I don't expect countries to adopt it as an official payment system, but I believe that they'll at least recognize it and make laws to protect people's right to own, transact and mine bitcoin.

[RewFrew]

Many country are accepting Bitcoin but most of the countrys not accep9? Because It's control are not possible. But now a days we are seeing some countries allowing Bitcoin. Like El Salbador the accepting bitcoin as a legal currency. I think who are accepting bitcoin they are very visionary. They know in future it will very important subject. So i think every countries government will understand this importance and they will change decision and they will positive about bitcoin and also that's governments and they will adopt Bitcoin.

[The Cryptovator]

It is widely acknowledged that powerful industries often exert influence over governments. While they may not have direct control over governmental decisions, their influence is palpable. Although I haven't conducted a survey on the matter, I can speak from personal experience. If major institutions were to embrace Bitcoin, they could potentially wield enough influence to impact government decisions in the future. However, the decentralized nature of Bitcoin is viewed unfavorably by governments, making it difficult to persuade them to adopt it. Such a transition would likely require considerable time, possibly spanning several years.

[Viscore]

If the adoption you are talking about is legal tender status, then you shouldn't be optimistic about that. I don't think we are going to experience centralized governments massively adopting BTC as a legal tender, especially the governments of first world countries, because in my honest opinion they don't have to and they won't achieve anything doing that, instead they'll lose some of their censorship strengths.

What we can expect is more governments setting a standard regulatory framework for BTC, they will accept it as a financial activity in their country, but they will regulate it and earn taxes from it.

You’re on point. The government may start to favor bitcoin in the future not to make it as a legal tender and rule over fiat, but to accept it as a payment system and to put a big tax on every bitcoin payment. That way, the government will gain the people’s trust again and may create hope that one day, bitcoin will have an equal position with fiat. But in reality, bitcoin is just being used and highly benefited by the government, but it will never come into reality that they will accept and adopt bitcoin as a legal tender.

[stomachgrowls]

If the adoption you are talking about is legal tender status, then you shouldn't be optimistic about that. I don't think we are going to experience centralized governments massively adopting BTC as a legal tender, especially the governments of first world countries, because in my honest opinion they don't have to and they won't achieve anything doing that, instead they'll lose some of their censorship strengths.

What we can expect is more governments setting a standard regulatory framework for BTC, they will accept it as a financial activity in their country, but they will regulate it and earn taxes from it.

You’re on point. The government may start to favor bitcoin in the future not to make it as a legal tender and rule over fiat, but to accept it as a payment system and to put a big tax on every bitcoin payment. That way, the government will gain the people’s trust again and may create hope that one day, bitcoin will have an equal position with fiat. But in reality, bitcoin is just being used and highly benefited by the government, but it will never come into reality that they will accept and adopt bitcoin as a legal tender.

What would you expect? Government would be always like this on which they would really be always mindful on how to apply taxes on anything. Now that they do able to see that cryptospace does generate that huge revenue whether if we do speak about incoming or outgoing transactions then it cant really be denied that volume does really involved huge or tons of money on which they cant really just let it slip away.

This is why it wont really be that something new if they would really be suddenly making out that kind of acceptance and trying out to flowering up things which seems like the do completely support cryptocurrencies
but we do know that behind those decisions are really having those kind of intent which it isnt really that shocking anymore.

They tend to adopt but all or everything for the sake of taxation and of course on the time that they would be able to apply it then this does mean that they have traced everything or monitored out.

[MusaMohamed]

The issue of countries adopting a specific thing is not difficult. All you need is for certain countries to succeed in taking any direction, for there to be a political motive and people’s satisfaction, and the government will find acceptance of the new situation, so when there was a high adoption of Bitcoin, several countries succeeded in accepting Bitcoin and benefited from it then. Acceptance of a particular government or all governments is a matter of time.

Being early comers, early adopters have risk but it has more benefits and it deserves a risk you take. Bitcoin has been here since 2009 and if a country accepts Bitcoin in 2023, it will be less risk than in 2009. At least you know you arr not accepting what will die next days. Risk to see Bitcoin die tomorrow, next months since 2023 is smaller than risk it had in early years after January 2009.

With globalization, a country can not stay outside the whole world and it is unrealistic to accept Bitcoin if a whole world against it. Again Bitcoin adoption in 2023 excludes such risk that a nation will be alone by accepting Bitcoin.

Personally, I do not expect that to happen soon, and perhaps we need to wait for at least 50 years, then this technology will have matured and become of high market value, and then there is no risk in adopting it. Meaning by 2060 it will be very possible.

I think 20 or 30 years are enough for me but honestly I don't invest in Bitcoin if I think it will die next 20 or 30 years. My vision is it will survive very long and I can leave my bitcoin to my kids after next more than 30 years.

I can not be sure about future but my vision has good belief in Bitcoin future.

[Lucius]

Just as the future is uncertain and no one can predict the future, The government may seem aggressive today on Bitcoin and cryptocurrency adoption, and tomorrow change their stand due to high pressure and demands from their citizens to use a technology like Bitcoin in the coming years. If BlackRock CEO criticized Bitcoin in the past and later turns to embrace what he kicked against, the government may do so because the government is run by friends of these individuals or people who own these companies, and they may have influence When it comes to government matters.

It is not at all a problem of the governments of the world, some of which have a negative attitude towards Bitcoin, but it is actually a problem of people who seek approval from their authorities to use Bitcoin. The whole situation is actually paradoxical because one wonders if centralized governments will agree to use decentralized crypto-currency and in that way actually begin to reject the power derived from national currencies.

BlackRock is a private company that at the moment thinks that it can make a profit with the help of Bitocin, and in a year they can change their opinion completely.What does that have to do with any government that should do exactly what?

El Salvador is a leading example of government in the front run of Bitcoins adoption and when more countries' governments follow suit in the race, other ones will not want to be left behind, they too will join the queue.

El Salvador is an example of a country that found itself in a situation where it had to abandon its national currency and has been using another country's currency for more than 20 years, and Bitcoin was not something that got them out of the crisis in any way, but only gave them a lot of media attention.