It seems you don't understand the point of a central bank. They are there to maintain the financial stability of a country, for the long term wellbeing of their citizens and will use as much historical evidence to evaluate what they believe is the correct course of action. They are not there to jump on the latest bandwagon just because a certain group of people think it is the future. Quite frankly, Bitcoin is not fit to be a world currency because it simply does not have the capacity to handle the amount of transactions required without a third party system layered on top - creating wasteful duplication that is inefficient compared to existing networks. It's a special kind of ignorance to think that crypto is a competitor, rather than a possible alternative form of payment, to existing fiat currencies and this sort of attitude does no favors to getting wider adoption. Bitcoin has many useful purposes but should not be considered the only possibility.

The major issue is see is that the government has a good idea that they could not control the cryptocurrency space like they wanted because it is a global decentralized space but if they want to come out with regulations then they can have some control over how we trade and which exchanges we use and the best bet will be to regulate the space rather than coming out with theories to ban innovation and a trillion dollar market.

Bitcoin seems to be ready if one day it will be used as a world currency, the drawback until now is still the same, namely its unstable value so that there are still many people who don't believe in Bitcoin. Surely many people are afraid if BItcoin suddenly disappears just like that, especially with a fairly large value it will certainly be very detrimental to the holder. But if we look at it from the past until now Bitcoin continues to show its strength with better performance and is able to survive until now amid the many new coins that keep popping up.

The central bank and its ignorance about bitcoin, but I think the central bank wants to destroy bitcoin, but the central bank can't do all that, but if they want to ban bitcoin, I personally think they can't. do it again, because bitcoin is now known by all countries, and bitcoin has also been adopted by all countries, so the central bank can no longer do anything, the only way is mutual respect.

It doesn't make sense if they don't understand Bitcoin. Until now I think it has not been able to destroy Bitcoin. A state bank can only make rules outside of Bitcoin. This is because some countries have dared to legalize Bitcoin as a means of payment and it is the right of every country. I think countries, central banks and bitcoin should go together because they will be mutually beneficial. Just look at the country bahakan has started collecting taxes from crypto transactions in my country in May.

Their was a time i was feeling that government is naive of understanding the usefulness of bitcoin until i understand that Bitcoin government suspend the transaction in some of the country because some of countries top head's are using it stealing. Bitcoin no adoption in a country can not cause poverty for country because no country is living or surviving with cryptocurrency, the adds bitcoin will help in a country is youths relief of financial crisis's

@Dunamisx you get the point right Bitcoin is an economic revolutionary tool and that is why the government most especially the central bank sees Bitcoin as an enemy for the fact that Bitcoin gives its user the freedom to carry out financial transactions without the involvement of the third party make the bank vulnerable and useless to some point, and this elimination of the third party in Bitcoin also reduce the autocratic power of the government over it citizens most especially those who have adopted Bitcoin as a secondary currency aside from the traditional currency.

The central bank would always mention several reasons why bitcoin should not be adopted. Some of them say it is too volatile but you sometimes ask yourself if fiat does not suffer the same faith. We have seen most fiat loose value overnight. Sometimes they say that it is very easy to use it to perpetuate crime such as money laundering, but the word money laundering has been existing before bitcoin. Like in my country the government claim that it is used for advance fee frauds but it is glaring that the bank is the biggest partners of fraudsters. I am not saying that bitcoin is perfect but its a good substitute. Everybody likes freedom and privacy and bitcoin has such characteristics. Hence, you can't stop its use. Bitcoin has empowered so many individuals financially through job creation more than even most government.

Most central banks are managed by archaic and ignorant economist that are not willing to embrace a positive change. They are not willing to learn, rather they depend on hearsay and conspiracy theories. Currently, countries like America are beginning to understand the inevitability of bitcoin because they are now willing to study and learn that workings of bitcoin. Different policies are being made and implemented to limit the negativity of bitcoin and utilize that good part of it in the US. My advice to other nations is that they should set a bitcoin committee and mandate them to understudy the operations of bitcoin and come up with recommendations that would protect their citizen without limiting the uniqueness of bitcoin.

we all know that government always wants full control when it comes to their financial system. and with the rise of crypto market, they are finding it like a disturbance in their system. so as much as possible, they don't want to accept this market. however, no matter how they ban crypto, their people will always find a way how to participate in this market. they can't totally get a hold of their people's crypto transactions. that's a fact though!