Should the government classify Bitcoin as a legal currency?

14%

Yes

86%

No

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Should the government classify Bitcoin as a legal currency?

14%

Yes

86%

No

"Register to vote for this question"

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Learn More about Bitcoin

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.

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The main motive of a government is to provide welfare to the society. In the recent times, it has come to light that misuse of welfare funds is being done. The physically and mentally capable adults are dependent on welfare of the government. Instead of government providing funds to this category, they can divert their funds to the areas, which need utmost attention and motivate these capable adults to contribute in the economy.


The calculation of wage has become a herculean task of the government. A wage is a compensation for the work completed in a particular time or over a period of short tenure and it is given at the end of the term, which is pre-decided in the agreement signed by the employee. Many voices are of the opinion that government should raise the federal minimum wage and government is still in a dilemma looking at facts like higher debt and lower growth rate.


The government provides benefits to citizens in every way possible. The government is always looking forward to the welfare of the society. However, it is seen in the recent times that recipients of drugs are misusing funds being forwarded to them. The drug test for welfare recipients is in the loop and it might become visible in the coming times. In addition to it, it is still questionable whether government would opt for drug test or not.

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