Post
Topic
Board Bitcoin Discussion
Re: How to make governments accept bitcoin?
by
Wesimon
on 19/04/2017, 16:11:49 UTC
Government wont accept it, one of the main reasons why bitcoin is so hard to become legalized it's because of it's anonymity.
Government's cant track the sources of it's income so they cant implement taxes to a bitcoin users
Will for me bitcoin is fine the way it is and i can spend it the way i want.

I agree with you. The government will never take bitcoin. This could lead to the collapse of the economy. This solution is especially dangerous for countries with a weak economic system
yes you are right that the government will never adopt bitcoin because bitcoin is not know by all the people as illiterate people of a country does not know about bitcoin they only know fiat that is why first bitcoin will need to introduce to all the the people then there is possibility that bitcoin will accept by government.

On the contrary, I think the government will likely accept bitcoin. However, they will just accept bitcoin as a mode of payment and not as an official currency. Fiat will still be the major money that will be circulated in the economy. We cannot force government to accept bitcoin and also, the government cannot force their countrymen in using bitcoin since not all people are capable in doing so.

I agree with you that Bitcoin can be a part of the economy but not embraced as the major one and the fact is that government can't govern Bitcoin hence it is still impossible but if they manage to find a way to govern it then Bitcoin's possibility to be use as their national currency will be probable though fiat is tough to deal with, with its influence with the culture up to the face of the authority of the government in its citizens.

I cannot see any way that the government can actually govern bitcoin. Bitcoin is decentralized, anywhere in this world has bitcoin (by anywhere I mean anywhere with internet access) so how come that a government of a specific country could govern bitcoin. Another, bitcoin is anonymous, how can the government track its citizens if they cannot identify who has bitcoin or who uses bitcoin. I know it's a big IF but I would like to hear ideas on how the government will govern bitcoin.