Resourcefulness in authorities legalizing Bitcoin

[Obim34]

Bitcoin is not gambling and gambling is centralized, which makes it easy for some countries that banned it to reconsider lifting up the ban from gambling. They have cone to realize that it can be a source of revenue to the government.

As decentralized as Bitcoin, most people choose to use Bitcoin in centralized way, making it easier for government to take action.

The government can create their own exchange and force people to use their exchange, if they use foreign exchanges, the banks will freeze the money.

This also applies to gambling, Thailand do legalize gambling, but not all people are gamble in their casinos, some of them might gamble on unauthorized online casinos.

It's easy to bypass the centralization. Trade Bitcoin using DEX, hold in non custodial wallet.

The government have no way to eliminate Bitcoin decentralization, it was never under their control, Bitcoiners always have a remedy of controlling their assets.

Governments can be picky, they can keep Bitcoin as a reserve but may not be fully bound to the system, this reason i am afraid for what the government can do if they keep the pace of legalizing and accumulating large portions of Bitcoin as reserves, not just one government becoming whale but sine it has become a new order for countries to adapt.

[GPVibes]

Meanwhile it could be a medium that if it is legalized, the government can make lucrative source of revenues on taxations to boost the economy maybe if they can set up interactive and responsive dialogues with the centralized exchanges.
I think such can only be actualized if the government authorities are amidst of scientific entrepreneurs.

The good part of Bitcoin is that it wasn't made for government. It doesn't have government inclusiveness and the apparatus of control isn't what bitcoin is. Government can only start to embrace bitcoin because it is sleeping off them and they want to have a cake out of it by biting hard to tax institutions and business entities who are in business in their country like exchanges which are very easy to regulate, monitor and sanctioned if they don't remit income tax to them.

Government is looking at the business part of Bitcoin because they know that the actual control lies with the people. They can't stop P2P but can monitor business organizations because they are registered with them and would take directives from them. Taxing in Bitcoin may serve as income for government and create additional employment opportunities for people and I believe that is the benefit the government see that attracts them not that they are genuinely interested in the financial system that is independent of bank or out of their control.

[Smartprofit]

In my opinion, if we look at it globally, Bitcoin is an enemy of the state and an enemy of the existing financial system. Therefore, I am not surprised that some government officials are strongly against the first cryptocurrency.

It should be noted that they have no real opportunity to ban or destroy Bitcoin. If Bitcoin is banned now, people will simply switch to more anonymous and confidential protocols (like Monero).

Therefore, attempts are being made to introduce Bitcoin into the existing financial system, regulate the first cryptocurrency, create derivatives based on Bitcoin (passing them off as Bitcoin), reduce the decentralization of the first cryptocurrency, lure real Bitcoin from users with the help of alternative currencies, memecoins, etc.

At the same time, in my opinion, the authorities and those in power will not be able to completely regulate and subordinate Bitcoin. Their strategic goals will not be achieved. The modern financial system is completely rotten through and through and no manipulation will help these people.

[Darker45]

I think the logic should be simple. If you can't beat them, join them. Can they stop Bitcoin? Nope. Can they stop their people from getting into it? Nope. Is Bitcoin bad for the people? Nope. For the government? Not necessarily. So, what's all this resistance for? The bottom line is that there's no reason to put up a fight against Bitcoin.

If they're able to legalize gambling, which is generally bad, frowned upon by Buddhism, the country's dominant religion, all for the sake of money, then it's a lot easier for them to embrace Bitcoin.

[Rustam Meraj]

In my opinion, if we look at it globally, Bitcoin is an enemy of the state and an enemy of the existing financial system. Therefore, I am not surprised that some government officials are strongly against the first cryptocurrency.

It should be noted that they have no real opportunity to ban or destroy Bitcoin. If Bitcoin is banned now, people will simply switch to more anonymous and confidential protocols (like Monero).

Therefore, attempts are being made to introduce Bitcoin into the existing financial system, regulate the first cryptocurrency, create derivatives based on Bitcoin (passing them off as Bitcoin), reduce the decentralization of the first cryptocurrency, lure real Bitcoin from users with the help of alternative currencies, memecoins, etc.

At the same time, in my opinion, the authorities and those in power will not be able to completely regulate and subordinate Bitcoin. Their strategic goals will not be achieved. The modern financial system is completely rotten through and through and no manipulation will help these people.

You have strong point that Bitcoin is seen as threat to governments and traditional money systems. You are right that because Bitcoin is global and not controlled by any single entity it is very hard for governments to ban or destroy it. People would just switch to other private digital currencies. Instead of this governments are trying to control Bitcoin by regulating it creating related financial products and promoting other digital currencies all to weaken its original idea of being truly independent. And yes that authorities won't fully succeed because current financial system is flawed shows strong belief in Bitcoin ability to overcome traditional power.

[Doan9269]

I think the logic should be simple. If you can't beat them, join them. Can they stop Bitcoin? Nope. Can they stop their people from getting into it? Nope. Is Bitcoin bad for the people? Nope. For the government? Not necessarily. So, what's all this resistance for? The bottom line is that there's no reason to put up a fight against Bitcoin.

If they're able to legalize gambling, which is generally bad, frowned upon by Buddhism, the country's dominant religion, all for the sake of money, then it's a lot easier for them to embrace Bitcoin.

This is already happening and they can't stop it from being in place, government have to realize the power of unity, respect on people's decisions and also support their views when it comes to dealing with what belongs to them, we can't be claiming of living in a modern and civilized world and still leave by olden days era of slavery.

Bitcoin is all about freedom and that was the main reason it was created to help the people take charge of handling their personal financial economy, the government first attacked on it, fight in many ways to kick against it, all because it's decentralized, but today as we have it now, they are left with no option than to join the train and get onboard.

[Jawhead999]

It's easy to bypass the centralization. Trade Bitcoin using DEX, hold in non custodial wallet.

The government have no way to eliminate Bitcoin decentralization, it was never under their control, Bitcoiners always have a remedy of controlling their assets.

Governments can be picky, they can keep Bitcoin as a reserve but may not be fully bound to the system, this reason i am afraid for what the government can do if they keep the pace of legalizing and accumulating large portions of Bitcoin as reserves, not just one government becoming whale but sine it has become a new order for countries to adapt.

You're only talking about the usage of Bitcoin, it's correct you can trade without need government intervention. But, most people convert their coins to fiat, which they need a help of banking system. This is where the government can know if you hold Bitcoin or not.

They can track who sent the money to you, they can ask what the way you get that money etc.

It's easy if you only buy and hold Bitcoin, but very difficult when you want to sell it.

[Sticky Bomb]

Meanwhile it could be a medium that if it is legalized, the government can make lucrative source of revenues on taxations to boost the economy maybe if they can set up interactive and responsive dialogues with the centralized exchanges.
I think such can only be actualized if the government authorities are amidst of scientific entrepreneurs.

The good part of Bitcoin is that it wasn't made for government. It doesn't have government inclusiveness and the apparatus of control isn't what bitcoin is. Government can only start to embrace bitcoin because it is sleeping off them and they want to have a cake out of it by biting hard to tax institutions and business entities who are in business in their country like exchanges which are very easy to regulate, monitor and sanctioned if they don't remit income tax to them.

Government is looking at the business part of Bitcoin because they know that the actual control lies with the people. They can't stop P2P but can monitor business organizations because they are registered with them and would take directives from them. Taxing in Bitcoin may serve as income for government and create additional employment opportunities for people and I believe that is the benefit the government see that attracts them not that they are genuinely interested in the financial system that is independent of bank or out of their control.

Bitcoin was not made for the government, but we cannot deny the fact that government creating an enabling environment for it's adoption in the country contribute a lot to it's adoption since citizens and local industries can invest into it without being skeptical about government clampdown.

Every wise government should know that Bitcoin is a strong source of revenue to the country. Government cannot centralize Bitcoin, they only try to regulate it as much as they can, people can still maintain anonymity by using DEX platforms or third party service that help increase anonymity while dealing with Bitcoin.

[Lida93]

If they're able to legalize gambling, which is generally bad, frowned upon by Buddhism, the country's dominant religion, all for the sake of money, then it's a lot easier for them to embrace Bitcoin.

You're right. A Buddhist dominated country as that shouldn't be expected to establish such changes about gambling in the country in a quick manner as this. But we have to accept a very unique aspect that influences policy changes in government, which is, changes in policy has a lot to do with the perspectives of the individuals in power and those perceptions in turn reshapes a lot of policies such as this we are witnessing with Thailand PM decision on gambling operations in their country.

[Mahiyammahi]

Therefore, attempts are being made to introduce Bitcoin into the existing financial system, regulate the first cryptocurrency, create derivatives based on Bitcoin (passing them off as Bitcoin), reduce the decentralization of the first cryptocurrency, lure real Bitcoin from users with the help of alternative currencies, memecoins, etc.

You just uncovered one of the harshest and most untold truths the desire to preserve Bitcoin not for the people, but for the big fishes. But the reality is, Bitcoin is the future of economic salvation. Our entire system has been corrupt ever since we started using paper money with no gold backing. They're printing money endlessly, and we’ve become silent, unwritten slaves to that system.

Now that they see Bitcoin as a technology where monopoly simply can't survive, they're desperately trying to accumulate as much of it as possible to gain some level of control. Let them try  they won’t succeed. Bitcoin is built to bloom regardless.

It’s not just about gaining industrial acceptance so they can manipulate it  it’s because they need to acquire it. The earlier they get in, the more they stand to benefit. But that doesn’t mean they’ll win.

[Oluwa-btc]

Welcome to reality where it doesn't mean something is good for everyone to accept it including the government.
Though is Ironic when the government of under developing countries are still not adopting Bitcoin as a source of revenue  but is just how life is.
Not every Bitcoiners now were Bitcoiners a decade ago but not they come to know and believe the truth and this same to some nations who didn't adopt Bitcoin earlier but do now.
As Ironic as it seems like we became Bitcoiners late, in a decade from now others will consider us earlier adopters also.

As the years transcend, it will be true to allude that many countries who are presently against the adoption of the bitcoin as a digital currency or a means of transaction will later agree to use the technology if they are exposed to more of the benefits of the bitcoin to their growing economies, they will end up tilting towards the acceptability of the bitcoin

It's becoming really relevant for some government and individuals that they want to increase their understanding about crypto risks and opportunities.So far,some authorities have shown signs to not be against Bitcoin financial systems.

[EL MOHA]

ou're right. A Buddhist dominated country as that shouldn't be expected to establish such changes about gambling in the country in a quick manner as this. But we have to accept a very unique aspect that influences policy changes in government, which is, changes in policy has a lot to do with the perspectives of the individuals in power and those perceptions in turn reshapes a lot of policies such as this we are witnessing with Thailand PM decision on gambling operations in their country.

In honesty, most of the time religious sentiments or values actually do matter a lot to common citizens but to the elite or to be specific to the politicians it definitely doesn’t hold waters there religion believe is simply what will help in achieving there goals or earn them profits. Aside Thailand there are also some countries with strong religious beliefs that have had the gambling platforms or casinos allowed in their countries if only they actually regulated, not that this regulation will do anything better but it will generate them more money and that’s what they are after.

Why not bitcoin is the question, and I say they are countries government that are simply against bitcoin because of fear that they can’t control the currency or because they fear it will create competition for their local currency not that they don’t actually know the real value of it. But gradually we will see it inception too

[Lida93]

ou're right. A Buddhist dominated country as that shouldn't be expected to establish such changes about gambling in the country in a quick manner as this. But we have to accept a very unique aspect that influences policy changes in government, which is, changes in policy has a lot to do with the perspectives of the individuals in power and those perceptions in turn reshapes a lot of policies such as this we are witnessing with Thailand PM decision on gambling operations in their country.

In honesty, most of the time religious sentiments or values actually do matter a lot to common citizens but to the elite or to be specific to the politicians it definitely doesn’t hold waters there religion believe is simply what will help in achieving there goals or earn them profits. Aside Thailand there are also some countries with strong religious beliefs that have had the gambling platforms or casinos allowed in their countries if only they actually regulated, not that this regulation will do anything better but it will generate them more money and that’s what they are after.

Why not bitcoin is the question, and I say they are countries government that are simply against bitcoin because of fear that they can’t control the currency or because they fear it will create competition for their local currency not that they don’t actually know the real value of it. But gradually we will see it inception too

Every government are seeking for a medium they can raise funds to be able to establish or achieve certain infrastructural development especially for projects that are capital intensive. And for a moment they just have to set aside some religious sentiments and be logical and work with the available means to raising such needed funds.

In the aspect of bitcoin, we know that the lack of ability to control the currency has been behind the abhorrent attitude of many governments towards it. They accept gambling not just because of the tax they can raise from it but that they can as well regulate it's operations.