Government & Bitcoin

[zeraTunerse]

likely due to the sudden recent uptrend in interest in bitcoin. that confidence in bitcoin is rising, it would be foolish for the government to stand idly and watch the dollar devalue against the bitcoin.

That is true if we need that bitcoin should grow in future then we desperately need the support from government and society to accept is as a currency for the mode of payment.

It is the fact that people trust fiat more over the bitcoin as they are used to it and credit cards are so much in demand nowadays that people don't want to get into bitcoins as they are not aware and that is the reason they don't trust bitcoin as a currency.

[zendantom]

We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors

Yes they are talking behind the closed doors but they are not coming into the support of bitcoin as they know it is at threat to fiat currency and it would make a full stop on their corrupted activities if the people starts accepting it as a currency so they have closed their eyes and running away from the reality.

[jayce]

We all know the government is actively watching bitcoin emerge as a legitimate currency source. I'm sure they are in talks about it behind closed doors

Yes they are talking behind the closed doors but they are not coming into the support of bitcoin as they know it is at threat to fiat currency and it would make a full stop on their corrupted activities if the people starts accepting it as a currency so they have closed their eyes and running away from the reality.

Well but I think the government now discuss about how to get full control bitcoin transaction, and maybe they are trying to looking for who the bitcoin creator is/are.

[BTCevo]

likely due to the sudden recent uptrend in interest in bitcoin. that confidence in bitcoin is rising, it would be foolish for the government to stand idly and watch the dollar devalue against the bitcoin.

That is true if we need that bitcoin should grow in future then we desperately need the support from government and society to accept is as a currency for the mode of payment.

It is the fact that people trust fiat more over the bitcoin as they are used to it and credit cards are so much in demand nowadays that people don't want to get into bitcoins as they are not aware and that is the reason they don't trust bitcoin as a currency.

Nope government will never support bitcoin as one of our currency because they can't control nothing from bitcoin, about pricing, the movement, everything. They will never ever support bitcoin forever

Well but I think the government now discuss about how to get full control bitcoin transaction, and maybe they are trying to looking for who the bitcoin creator is/are.

If they ever discuss it I dont think they can full control bitcoin, not saying about the bitcoin, the transaction thing they will sure hard to think any solution for this because there are more people trading everytime its like 24/7. And are you sure that the creator of bitcoin want to cooperate with government? I dont think they will because they barely know who is the creator of bitcoin

[jayce]

If they ever discuss it I dont think they can full control bitcoin, not saying about the bitcoin, the transaction thing they will sure hard to think any solution for this because there are more people trading everytime its like 24/7. And are you sure that the creator of bitcoin want to cooperate with government? I dont think they will because they barely know who is the creator of bitcoin

We can't underestimate the government just like that. They can do anything for earn very high profit for them. If the creator(s) of bitcoin won't cooperate with government and make them feel be annoyed, they can block all of bitcoin website, even shut down our internet access. What would we do if that happen? Well thats just my opinion 

[BTCevo]

If they ever discuss it I dont think they can full control bitcoin, not saying about the bitcoin, the transaction thing they will sure hard to think any solution for this because there are more people trading everytime its like 24/7. And are you sure that the creator of bitcoin want to cooperate with government? I dont think they will because they barely know who is the creator of bitcoin

We can't underestimate the government just like that. They can do anything for earn very high profit for them. If the creator(s) of bitcoin won't cooperate with government and make them feel be annoyed, they can block all of bitcoin website, even shut down our internet access. What would we do if that happen? Well thats just my opinion 

Thats why Im saying that government never support bitcoin if they can't even control it so its just a waste waiting them to support bitcoin because they have any power to do things mean while us just need to wait until they shut down the bitcoin so before they close it we just can earn more from bitcoin

[arallmuus]

We can't underestimate the government just like that. They can do anything for earn very high profit for them.

Yes they can, one way of them doing that is tax-ting everything in the country no matter how rich nor how poor you are , everyone is treated with equality in this tax-ting case

If the creator(s) of bitcoin won't cooperate with government and make them feel be annoyed

Satoshi whereabout is unknown , there has been a lot of speculation that X or Y may be satoshi in disguise but unfortunately his whereabout will be kept secret though

they can block all of bitcoin website

There is a lot of way to by pass this type of block though. If the chinese could still use facebook and most of the BTC website than I dont see a fear of this thing if the government will do this sort of things in the future , which is highly unlikely .

even shut down our internet access.

Not going to happen because basically the goverment got profit from this stuff as well, shutting the internet access down would create alot of havoc throughout their country and of course worst case will be that they will turn themselves into the next north korean dictator, which is highly unlikely as well

tl;dr : government possess no threat to BTC but BTC do posses a threat to them

[jayce]

Satoshi whereabout is unknown , there has been a lot of speculation that X or Y may be satoshi in disguise but unfortunately his whereabout will be kept secret though

I'm not sure if government aren't curious who Satoshi is/are, and I think they are trying to search him/her/them now

Not going to happen because basically the goverment got profit from this stuff as well, shutting the internet access down would create alot of havoc throughout their country and of course worst case will be that they will turn themselves into the next north korean dictator, which is highly unlikely as well

well it can be happen since there are many dictators in the world, not only north korean. I'm curious if there are any bitcoin user in that country

tl;dr : government possess no threat to BTC but BTC do posses a threat to them

I am agree about this.

... its just a waste waiting them to support bitcoin...

Yeah we don't need to wait them. Just enjoy our bitcoin now

[arallmuus]

Satoshi whereabout is unknown , there has been a lot of speculation that X or Y may be satoshi in disguise but unfortunately his whereabout will be kept secret though

I'm not sure if government aren't curious who Satoshi is/are, and I think they are trying to search him/her/them now

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all . Thus even if they are, eventually finding satoshi will bring them no good at all. The threat is from BTC itself to their old economical system and not from the creator of BTC.

Not going to happen because basically the goverment got profit from this stuff as well, shutting the internet access down would create alot of havoc throughout their country and of course worst case will be that they will turn themselves into the next north korean dictator, which is highly unlikely as well

well it can be happen since there are many dictators in the world, not only north korean. I'm curious if there are any bitcoin user in that country

Perhaps no, everything is being dictated there. Basically one would not have the time to even access a news site that is outside of north korea, so high chance that there is none

[jayce]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

[arallmuus]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

[jayce]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

Its up to the government if they want to know deeply or just heard of. But, if bitcoin affected the country economic system, the government won't just stay and let it be happen. Don't underestimate the government, we don't know what really the government will do about bitcoin behind us.

[Dotakels]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

Its up to the government if they want to know deeply or just heard of. But, if bitcoin affected the country economic system, the government won't just stay and let it be happen. Don't underestimate the government, we don't know what really the government will do about bitcoin behind us.

They can banned bitcoin form their country because of risk and also the people of that country that have a bitcoin and if they have many coins, their money will also lost.

[jayce]

They can banned bitcoin form their country because of risk and also the people of that country that have a bitcoin and if they have many coins, their money will also lost.

I don't think so if our bitcoin just lost like that when government banned bitcoin. The banning just make we hard to access our wallet or any bitcoin website.

[arallmuus]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

Its up to the government if they want to know deeply or just heard of. But, if bitcoin affected the country economic system, the government won't just stay and let it be happen. Don't underestimate the government, we don't know what really the government will do about bitcoin behind us.

Unfortunately, BTC posses no threat to the economic system for now. It is still treated as a stocks and not as a currency, the value of it is still being manipulated and it will be years from now before the goverment will be taking about this threats seriously.
Basically the government could do nothing about it since it is a decentralized currency which means that any government wouldnt be able to put up anything to restrict it , best thing they could do will be banning and it will be absolute pointless because all you need is a simple internet to access your BTC (beauty of crypto world)

[Amph]

Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

Its up to the government if they want to know deeply or just heard of. But, if bitcoin affected the country economic system, the government won't just stay and let it be happen. Don't underestimate the government, we don't know what really the government will do about bitcoin behind us.

Unfortunately, BTC posses no threat to the economic system for now. It is still treated as a stocks and not as a currency, the value of it is still being manipulated and it will be years from now before the goverment will be taking about this threats seriously.
Basically the government could do nothing about it since it is a decentralized currency which means that any government wouldnt be able to put up anything to restrict it , best thing they could do will be banning and it will be absolute pointless because all you need is a simple internet to access your BTC (beauty of crypto world)

there is another thing they can do(and probably is the best thing for us), instead of banning it they will propose something alike, like their own centralized coin, to steal users from bitcoin, by offering more security and better regulation, while leaving bitcoin as it is

many will just choose the gov coin and leave bitcoin to criminal basically...this could damage bitcoin enormously

[Fabrizio89]

Nah, they won't ban it, it's just another area they can tax and add to gdp when they need to

[ThEmporium]

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

Bitcoin, with no central body, instead shares all the information about who holds what amongst every computer running the software, to create a public ledger, the blockchain. The blockchain is so called because it records every transaction in the currency’s six-year history, grouped into a continuous chain of approximately 10-minute long transaction blocks. Every 10 minutes, when a complex mathematical problem is solved, a new block recording all the latest transactions is added and the blockchain. It means that every bitcoin transaction is public, and no single authority can prevent a transaction from taking place.

[jayce]

there is another thing they can do(and probably is the best thing for us), instead of banning it they will propose something alike, like their own centralized coin, to steal users from bitcoin, by offering more security and better regulation, while leaving bitcoin as it is

many will just choose the gov coin and leave bitcoin to criminal basically...this could damage bitcoin enormously

I'm not sure if people prefer to any crypto coin that be provided by government, since government won't make something that can't give high profit to them. So if they really make that, the fee will be higher.

Unfortunately, BTC posses no threat to the economic system for now. It is still treated as a stocks and not as a currency, the value of it is still being manipulated and it will be years from now before the goverment will be taking about this threats seriously.
Basically the government could do nothing about it since it is a decentralized currency which means that any government wouldnt be able to put up anything to restrict it , best thing they could do will be banning and it will be absolute pointless because all you need is a simple internet to access your BTC (beauty of crypto world)

Yeah that's happening for now, no threat and still treated as a stocks. But we can't predict future appropriately. Maybe something great will be happened and government will take the action to bitcoin.

[Dotakels]

Nah, they won't ban it, it's just another area they can tax and add to gdp when they need to

But why they need to collect tax from bitcoin? What they are going to do with that coin? And i think they can't added to their gdp because they not own it and its decentralized.