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

[Lucius]

Yes, they may change their opinion, and this is the angle that I'm looking at in this topic on the government side, The government may also see a profitable way of taping into Bitcoin, and the government too may change their opinion completely with the way they see Bitcoin today as they say, change is constant.  

Profitable in what sense exactly? Is it just taxes or do you think they might start mining BTC? In my opinion, taxes are the only thing they can profit from, because in less than 10 years 99% of all BTC will be mined and only a few will compete for the remaining 1% for the next 100 years.

Remember that the government we talk about is run by individuals that have interests, the same as the people who run these private companies. If the government sees these big companies change their perspective on Bitcoin and are filing for Bitcoin ETF, don't you think it might draw the government's attention to find a way to have a review of how things can be sorted out with their stand on Cryptos?

The interest of every sovereign state is to have a strong economy and a strong national currency, and this will certainly not be achieved by doing the same as El Salvador, which does not even have its own national currency. What is important is that Bitcoin does not need to be accepted by a government in a special way in order to be successful in a country.

I live in a country where the average politician has no idea what Bitcoin is, there is no special regulation of it, but there are many companies that accept it as a means of payment, and there are laws that regulate the payment of tax on profits from the sale of cryptocurrencies. Honestly, I don't know what my government should do more for Bitcoin, because as I already wrote, the problem is not in most governments, but in people who are waiting for some kind of approval from those same governments to use Bitcoin. Satoshi did not seek permission from governments, banks or private companies to create Bitcoin, and no person should seek the same permission.

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[Blitzboy]

All of these things may or may not happen. Because talking about bitcoin adoption, as we know, currently not many countries are willing to adopt bitcoin as currency or as a means of transaction.
Because there are many reasons that make bitcoin not so easily adopted by a country. Maybe due to legal issues in force in that country or about dislike of bitcoin assets. So speaking of that,it will be difficult indeed, to make bitcoin adoptable by certain countries "for now"

But it is possible that in the future bitcoin will be accepted by all countries in the world. Because as you mentioned, there are also people who didn't like bitcoin at first, but in the end these people can change and can really like bitcoin. So with this fact, the hope that bitcoin can be adopted by all existing countries is still very wide open and you could say that all of these things could happen.
Because basically want any argument or opinion, if it aims to disgrace bitcoin, I'm sure it definitely won't be able to. Because of bitcoin assets, you can say that they are very good assets and have great potential. So for example there are people who research bitcoin who initially want to find a loophole in bitcoin, but in the end change your mind and decide to like bitcoin, it can indeed happen. And that includes for a country as well.

Bitcoin's future as a global currency is debated. A universal cryptocurrency is appealing, but we must consider the consequences.

First, law. Bitcoin bypasses banks, but it's risky. It unleashes money laundering, black market trades, and tax evasion. Thus, while a Bitcoin utopia may be appealing, legal obstacles are huge.

Bitcoin may not be a "great asset" though. The currency's volatility makes it a dangerous investment. Bitcoin lacks consistency and stability, which economies need.

People's views about Bitcoin don't inevitably change governments' policies. Governments and individuals operate differently. A nation must prioritize economic stability above Bitcoin gambling. Bitcoin as a national currency is currently a political experiment.

[Promocodeudo]

The Government sees Bitcoin as a trait, anything or asset that will deprive the Government of the power to control its citizens is seen as an enemy, so practically I don't see this dream coming through soon, the only achievable thing for now, is individual and institutional adoption. Bitcoin is a decentralized digital current, with this meaning, it implies that no one has the power to control each other or to make policies that are unacceptable to the people in the system or citizens involved, you are your bank, and you control your asset, and you have access to your money any day, anytime you wish to.

do you think the government would support and accommodate this kind of system where control and circulation will be determined by the unanimous decision of the system?

In Bitcoin, everyone is involved directly, with no hidden fees or charges, everything is done transparently. The government won't be liking this idea because it is freedom unless a technocratic is in power, this technocratic may be opposed since the whole will go through the parliament to make a working process.
 
Some countries deem it necessary to hold the bull by the horn by adopting Bitcoin but when you check very well, some powers are still opposing that decision.

The Government knows that with the power bestowed on them constitutionally to make monetary policies, its citizens can be controlled through that process, but when Bitcoin is considered generally as a legal tender, some policies won't be taken seriously again, since they no longer possess the power alone to decide in respect to bitcoin, in conclusion, I don't see the Government Changing their stand on this in a haste.

[SirLancelot]

If it is general possibility then there is a chance, I think but I doubt that all governments would do so. There would always be doubts on their end simply because this technology is a new thing still. Also with regards to monitoring and transactions that governments are concerned of, this would not be easy to achieve for this industry. What's more likely to happen is gradual acceptance from sectors such as what happened recently wherein banking institutions are quite giving a short for cryptocurrency adoption. Well, regulation would more likely take place which is what making the process, complicated since it is in contrast with this technology's nature.

A lot of governments wouldn't accept Bitcoin or cryptocurrencies at all, not because it's a new technology but because they know Bitcoin and cryptocurrencies will provide their citizens with alternative wealth storages and they might stop using banks as frequently as they used to do before them, and since they can't have access to accounts or financial activities of each user on the blockchain, they will lack control and they can never accept that.

That will surely be the reason why many countries will simply push Bitcoin and other cryptocurrencies away, although other cryptocurrencies are not totally decentralized as their projects and teams have total control over them, Bitcoin is the biggest threat for them since it's totally decentralized.

[BITCOIN4X]

I'm not sure about how likely it is that the government will change its regulations on bitcoin and start adopting it as legal tender. But everything depends on the West and Europe, it's because of their economic strength.

Right now the government is aware of what bitcoin is for, its advantages and disadvantages, but they really don't dare to change the rules considering that several large countries have not adopted it. If one day a large country with a good economic status succeeds in adopting bitcoin, then of course other countries will follow.

[oktana]

Here is a post that drew my attention to writing this topic.
The biggest hedge fund manager, BlackRock sometime in 2017 criticized Bitcoin, and presently they have filed for Bitcoin ETF approval and gradually becoming a Bitcoin evangelist, not only BlackRock, other folks like Jamie Diamond, the CEO of JPMorgan Chase, and Micheal Saylor the former CEO of MicroStrategy just to mention a few.


https://twitter.com/BTC_Archive/status/1677710039660855296?t=_GSHd-hYZ89mRszuoEu2UA&s=19


My perspective

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.
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?

Some other governments see Bitcoin as an opportunity to loose control over the citizen’s finances. They wouldnt  place taxes on these commercial banks because bitcoin won’t be operating based on that mechanism. The government would run a loss, in my opinion so I don’t think they would accept for citizens to embrace Bitcoin.

And it would be a challenge on the illiterates. The government will have to educate the whole nation then cause my mama don’t know how to invest Bitcoin.

[molsewid]

I'm not sure about how likely it is that the government will change its regulations on bitcoin and start adopting it as legal tender. But everything depends on the West and Europe, it's because of their economic strength.

Right now the government is aware of what bitcoin is for, its advantages and disadvantages, but they really don't dare to change the rules considering that several large countries have not adopted it. If one day a large country with a good economic status succeeds in adopting bitcoin, then of course other countries will follow.

Yes it depends, but I have a high hope that this will be adopted sooner or later they need to embrace the reality and they need to accept that we're living in a digital era where people already used to using digital currency and most of the people now are having interest on it. They just need to come up with a plan so that people in all areas can have access to it even the remote areas.

[panganib999]

Yup. There's no telling when or how but it's quite possible since bitcoin has this streak of changing the opinions of people over it in time. Way back then you'd hear Warren Buffett talk shit about cryptocurrencies in general and then the next thing you know he's selling some of his Visa positions so he could open up cryptocurrency purchases. It's all a matter of time until people realize how cool bitcoin actually is. What's a little sad though is that most of these people and entity buy bitcoins all because it's profitable, which is not necessarily a good thing but as a bitcoin fanatic it would've been nicer to at least see someone big in the industry buy bitcoins because of a reason other than "this'd make me even more rich". But oh well, beggars can't be choosers yeah?

[alastantiger]

Here is a post that drew my attention to writing this topic.
The biggest hedge fund manager, BlackRock sometime in 2017 criticized Bitcoin, and presently they have filed for Bitcoin ETF approval and gradually becoming a Bitcoin evangelist, not only BlackRock, other folks like Jamie Diamond, the CEO of JPMorgan Chase, and Micheal Saylor the former CEO of MicroStrategy just to mention a few.

The fact that the government already possesses bitcoin is unknown to many. Those who anticipate a sudden shift in their position against bitcoin are unaware of the workings of the world. The government prioritizes control and has no intention of relinquishing it to its citizens. Though it may sound like a absurd, I have reasons to believe that there is a strong connection between BlackRock and the government.

[Sanitough]

Everything can change over time, if not now then certainly in the next generation. As long as governments are sure what they will gain by adopting bitcoin, then they may adjust in the future. Of course it won't be easy, it takes time and it takes a lot more to expect the government to change its policies.

I expect the government to change its attitude towards bitcoin over time, but they shouldn't rush into it without a lot of consideration. We know they don't want to get out of hand and don't expect a lot of people to be breaking just after the adoption is announced, that includes preventing abuse and other precautions.

Yes, I believe change is very possible but I think it will take a lot of time processing before things will turn positive about bitcoin. However, if bitcoin will stay decentralized over time, which means it could not be controlled by any third party, I don’t think the government will love the idea since the very aim of the government is to take control of everything just like what it did to fiat and its banks.

[EFS]

Every government has a different agenda. When small countries like El Salvador do something positive, that doesn't really affect the global financial markets. If developed countries one day look at Bitcoin more positively and somehow incorporate it into their own financial systems, then this would be a big deal. I'm sure that even in such an environment, our country will lag far behind in this adoption phase. This type of integration has a direct connection with the wealth and development level of countries.

[rachael9385]

Yup. There's no telling when or how but it's quite possible since bitcoin has this streak of changing the opinions of people over it in time.

No bro, I don't think so.
The government system is not operated by just one man there are many people who will stop Bitcoin from legal tender, my reason for this comment is because the government is not just only one person and there are different sets of people who doesn't wants the progress of each other, then imagine if only one or two persons out of hundreds of people decided to legalize Bitcoin, there will be trouble between them self and it will still give Bitcoin a bad reputation because of the bad misunderstanding they might have. Although anything can be possible as long as profits (money) are involved maybeeeeee the government will one day legalize Bitcoin in the society.

[Alpha Marine]

Change is the only constant thing in life. 
More governments will still acknowledge Bitcoin but I don't think it's going to be much.  The single fact that Bitcoin is decentralized will discourage a lot of governments from it. 
For governments of countries to accept Bitcoin then it has to be less a little less volatile and relatively stable. 
Bitcoin will keep convincing skeptical people little by little but it will take time.  Little by little more companies and business will begin to accept bitcoin as a medium of payment. 

[serjent05]

Yup. There's no telling when or how but it's quite possible since bitcoin has this streak of changing the opinions of people over it in time.

No bro, I don't think so.
The government system is not operated by just one man there are many people who will stop Bitcoin from legal tender, my reason for this comment is because the government is not just only one person and there are different sets of people who doesn't wants the progress of each other, then imagine if only one or two persons out of hundreds of people decided to legalize Bitcoin, there will be trouble between them self and it will still give Bitcoin a bad reputation because of the bad misunderstanding they might have. Although anything can be possible as long as profits (money) are involved maybeeeeee the government will one day legalize Bitcoin in the society.

If the government finds out that it can milk money from Bitcoin, they will eventually think of ways how to accept it while not straying from their law.  The government adoption can also have the reason you stated that because there are sets of people who thinks that Bitcoin is beneficial to country then the government have to adopt and accept Bitcoin.  Things can always go either way so do not remove the possiblities of each side happening.