Can Bitcoine become a widespread, legitimate currency without the support of the government? Currencies are built on government backing to support the value of those currencies. What makes the US dollar valuable for example is the fact that government stands behind every penny of currency that is outstanding and the US government guarantee is worth something. 

Who will stand behind the value of any cryptocurrency should there be a crisis of confidence?

Answer rating: 100% (QA)

It is unlikely for Bitcoin or any cryptocurrency to become a widespread legitimate currency without ... View the full answer