What will happen if Bitcoin gets official permission from the government...???

[vaniosetiawan]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?

[laughingburger]

If really this day come where bitcoin is granted permission by government firstly we will see a heavy surged in price due to the future of crypto being more promising, secondly we should be able to see a big increase in crypto users as investors or believers, lastly which is a bad thing we might see more scammers and ICO flowing into the crypto market to take advantage of this piece of gold.

[Leebarnes]

Nothing really happens it seems that the government is having a hard time to adopt cryptocurrency because of the volatility and there is no connection with the price increase in case government adoption occur it is a matter of formality.

[eldial]

Very good if the bitcoin gets official permission to the government because totally it will be a legally kind of business that the peoples will be interested to joined because of some benifits helped for each members and the government can stopped the badly scammers destroy the images of bitcoin.

[Hexsas]

If bitcoin gets permission from the government then people will believe in bitcoin bitcoin will be a legal currency. But on the other hand, for people who prefer decentralization it certainly is not good news, because every transaction they do has interference from third parties.

[Morrower]

It will be a great step for a country and a bad decision for those who prefer to stay anonymous.
Moreover banks could earn more money which will be good for the economics of the country.

[JSD10M]

Since it is peer-to-peer, the government cannot "get in the mix"
Whatever transaction between sender and receiver is purely between them

[Coin63@]

Excellent idea, when government and their banking systems accepted or give permission, then bitcoin, altcoins should be number one currency those countries.

[bhm45]

if that happen, bitcoins need to be centralized and open to all countries so they have possibilities to be legalized in the whole society. In that case bitcoin will be open to all community

[yitzjoe]

this is good news because it cuts the shipping chain from users directly to other users without the central bank to record. that is the use of blockchain to be a transparent ledger for recording all transactions that are not obsolete because they are recorded on almost all computers in the network

[sixexgames]

I think governments definitely want a piece of the crypto market and want to tax it. But I guess I can't see many governments adopting a public cryptocurrency as an official currency. I think they'd just rather create their own like Venezuela and the Petro.

[Goku01]

In the event that extremely this day come where bitcoin is conceded consent by government right off the bat we will see an overwhelming flooded in cost because without bounds of crypto being all the more encouraging, furthermore we ought to have the capacity to see a major increment in crypto clients as speculators or devotees, in conclusion which is an awful thing we may see more con artists and ICO streaming into the crypto market to exploit this bit of gold.

[Sentinel]

I think if Bitcoin really is legalized by the government, it will have a negative or positive impact. First for the positive impact of the number of people who use it and invest in it and cause the price of Bitcoin is always high, so that not a few people get their personal benefits. As for the negative side, the country's economy will be slumped due to the absence of income in taxes and direct fiat money transactions. As a result the country is vacuum in managing its government system.