Government & Bitcoin

[umaOuma]

If you think about government may be planning, it can be scary.

Some government officials might have known something about bitcoin and some were already investing in bitcoin.. who knows..hehe 

That's the problem we are facing, government officials are investing into bitcoins but they are not in support of bitcoins from the society point of view, they want to make money, but they don't want that the people of their country should make money, and that is the reason bitcoin is not popular in many countries.

[jaysabi]

Well, lets just hope that government won't intervene with bitcoin and regulate it, but I don't think that they will enter bitcoin world that easy... as we all know, politicians don't care about those that they don't have control... 

Regulation is inevitable. In the U.S., New York is already regulating Bitcoin businesses, and any exchange in the U.S. also has federal regulations to comply with re: anti-money laundering and KYC regulations. Regulatory scrutiny will only increase as time goes forward. Fighting it is a lost cause.

[jaysabi]

Once a government like the US will decide to adopt Bitcoin as a currency others will surely follow.

I don't ever see the U.S. adopting Bitcoin as a currency. That would mean replacing the dollar, and it's not going to happen. The government is never going to give up control of the money supply. Currently, the U.S. doesn't ban Bitcoin, and in the future if may agree it is a "currency" instead of property, but that's as close as we'll get to adopting it as the official currency.

On November 19th 2013 the US congress actually agreed that Bitcoin was a good thing,

What are you referring to here?

[nerFohanzo]

Once a government like the US will decide to adopt Bitcoin as a currency others will surely follow.

I don't ever see the U.S. adopting Bitcoin as a currency. That would mean replacing the dollar, and it's not going to happen. The government is never going to give up control of the money supply. Currently, the U.S. doesn't ban Bitcoin, and in the future if may agree it is a "currency" instead of property, but that's as close as we'll get to adopting it as the official currency.

On November 19th 2013 the US congress actually agreed that Bitcoin was a good thing,

What are you referring to here?

Not only US Government but even the Governments of other countries will not come in support of bitcoins as they view bitcoin as a threat to the banking system, and it will end up their corrupted activities, So they don't want that any currency could get on mainstream on which they don't have control, they want total control on money supply and that is the reason they will never support bitcoins.

[Rotator]

Government won't adopt bitcoin they have dollar and they controlling it.
But we people can choose.

[maku]

Government won't adopt bitcoin they have dollar and they controlling it.
But we people can choose.

And for now we choosing to be idiots blinded by fast profit. Bitcoin has problems and we as bitcoin community can only argue about is while not taking any actions.
It is not government which is threat to bitcoin, it is we - bitcoin enthusiasts, miners and community - we will kill bitcoin.

[deisik]

Government won't adopt bitcoin they have dollar and they controlling it.
But we people can choose.

And for now we choosing to be idiots blinded by fast profit. Bitcoin has problems and we as bitcoin community can only argue about is while not taking any actions.
It is not government which is threat to bitcoin, it is we- bitcoin enthusiasts, miners and community - we will kill bitcoin.

Not us, absolutely, since we are as we have always been and will ever be. What will most certainly kill Bitcoin (or, as an option, bring it to oblivion) in due course was already there when it had been born...

It is its very nature, that of a Ponzi

[AlphaSun]

The scary thing is that when Bitcoin really catches hold, the government will be the ones with the power and servers to mine til the cows come home.  Can you imagine the server stacks that they can devote to generating the new currency that is being adopted?

When the governments have too many hashing power, bitcoin can change the PoW to PoS so that government investment is useless.

[romero121]

None of the governments will adopt bitcoin. If Governments adopt bitcoin surely they will take control of the technology and make them according to their requirement. Being a open source without flaws is the top feature of bitcoins technology.

[aardvark15]

Since more than half of the bitcoins have already been mined and individuals are going to continue to mine, I think it may be too late for governments to catch on to mining enough to make a difference.  Plus if they do start mining, doesn't that sort of legitimize bitcoin?  That would mean that the government sees value in it.

[randy8777]

Since more than half of the bitcoins have already been mined and individuals are going to continue to mine, I think it may be too late for governments to catch on to mining enough to make a difference.  Plus if they do start mining, doesn't that sort of legitimize bitcoin?  That would mean that the government sees value in it.

governments are simply not interested in the whole bitcoin thing beside the block chain. that's the only thing they are interested in at this point. if bitcoin grows too much and the governments feel sort of threatened, they will simply come up with ridiculous policies to hold back the growth of bitcoin. that's basically the only thing they can do to slow down bitcoin. other than that they don't stand a chance.

[ronaldinho_07]

I believe governments will work out a solution to work out with bitcoin and do what they like more,put a fee into who hold or think to get bitcoin.Soo bitcoin isnt a real threat to the system runned by the countries as they can take control of if easy ,and the fee should make several avoid those kind of investment.For other side would be amazing to see some country allow bitcoin and advice people to work with it,that may happen ,and should happen someone must do the first step into inovation .

[dinda22]

None of the governments will adopt bitcoin. If Governments adopt bitcoin surely they will take control of the technology and make them according to their requirement. Being a open source without flaws is the top feature of bitcoins technology.

yes I agree, it is difficult for governments to adopt bitcoin. especially bitcoin prices that fluctuate.

[iv4n]

Conclusion is that various government agencies, departments have classified bitcoin differently. I heard somewhere that governments may fear bitcoin cause value is determined by users and not central governments.

[aardvark15]

Since more than half of the bitcoins have already been mined and individuals are going to continue to mine, I think it may be too late for governments to catch on to mining enough to make a difference.  Plus if they do start mining, doesn't that sort of legitimize bitcoin?  That would mean that the government sees value in it.

governments are simply not interested in the whole bitcoin thing beside the block chain. that's the only thing they are interested in at this point. if bitcoin grows too much and the governments feel sort of threatened, they will simply come up with ridiculous policies to hold back the growth of bitcoin. that's basically the only thing they can do to slow down bitcoin. other than that they don't stand a chance.

If governments hold back bitcoin, I still think it can still have a niche as a way to transfer money around the world.  Even if merchants don't accept it as payment, individuals and businesses can use it to move money quickly and then transfer back to fiat.

[poptok1]

I think they will never care about bitcoin in a serious maner.
All gov. are after if the blockchain techology.
Government -> banks -> big data companies and corporations.
We are the betatesters for their future profit. Its not a bad thing but it will be better to watch them
as such big partys like to bully or take advantage on people.

[shane]

this is big news, I Think other country will following japan action.
Japan Proposes Definition for Bitcoin in Bid to Regulate Exchanges

[Nandiwal]

We must think about a thing that
Who make Government?
Who is Government?
Why is Government?

answer is We make government. We are government and government is for us.
So if 51% of population of a country like and use Btc then there is a chance that they can make government. So government will never take such a decision that will create a problem for him.

[ronaldinho_07]

this is big news, I Think other country will following japan action.
Japan Proposes Definition for Bitcoin in Bid to Regulate Exchanges

I hope this governments wake up and join the change that is slowly being made,people wanna back the decision ,the power to choose where they wanna invest the money ,taking their own risks,same as happens with shares and actions of companies.Bitcoin can be good for all,just let it enter in your life,saving penies for some means nothing,but consider all your bills year and you will see how much you can save with it its amazing.

[JAyThaRevo]

I don't think that the Government of my country will come in support of bitcoin sooner or latter, as they feel that it will end their corrupted activities and above all they will loose all their control as they have on fiat at a moment.