Government & Bitcoin

[WEBcreator]

So adopting Bitcoin as legal tender (along with other major currencies) may be the right step for a desperate government of a small country

Does or will it have any major effect for the exchange rate of bitcoin considering that some desperate government switch over to bitcoin? I dont really this is going to make a significant impact, unless we could get UK to get their hands on bitcoin then all of this will be meaningless isnt it

[MaritiJames3]

Governemetns are ruled by rich bankers, which in fact is also applicable for the rest of the world.
And with the bankers against bitcoin, means that governments by default are against bitcoin too. Which is something we cannot change.

[deisik]

So adopting Bitcoin as legal tender (along with other major currencies) may be the right step for a desperate government of a small country

Does or will it have any major effect for the exchange rate of bitcoin considering that some desperate government switch over to bitcoin? I dont really this is going to make a significant impact, unless we could get UK to get their hands on bitcoin then all of this will be meaningless isnt it

Though it may not have an immediate effect (e.g. price hiking to over $1,000), it will, nevertheless, have long-lasting and far-reaching consequences. First of all, that would mean an official recognition of Bitcoin as money (like dollars, euros, etc, and all that UN shit that I don't have a clue about). Secondly, countries that would otherwise have banned Bitcoin, will have tough times doing that since they will most certainly become an object of international ridicule (for banning a legal tender of some tiny spot on the map, lol)...

I don't think any major power would want that, thereby even a small country can make a history of sorts

[gtglener]

It's a very interesting question, i really want to see how goverments of many countries will accept bitcoin as legal currency because bitcoin is already internation currency.

Governments will never accept/adopt Bitcoin as currency or in any other form. Why? It's quite simple. They will never use something they can't fully control. I think we have to stop wishing for things that will not happen.

your statement could be true because as we see now that several countries has decide to banned bitcoin from their countries because one of the main factors that they can not control all bitcoin users also don't be forget that bitcoin user didn't paying tax to the countries but only to the miners

the countries which have banned it not because of unable to collect taxes but because of the fear of crimes with that currency, as they are saying that bitcoin transactions are anonymous and they are unable to find any transaction made for any illegal use.

[pearnapple]

Governemetns are ruled by rich bankers, which in fact is also applicable for the rest of the world.
And with the bankers against bitcoin, means that governments by default are against bitcoin too. Which is something we cannot change.

i think even though it is really sad to say that you might be right about the thing that governments are controlled by banks, i hope bitcoins will change this thing

[Jmild1]

different governments have different view about bitcoin. some states consider it as illegal currency. while other have consider it a legal currency and they are allowing every act of bitcoin in their state even they are looking for to apply tax of Bitcoin. but some state have yet not statement about bitcoin they neither consider it as a legal or illegal currency.

So far I think no country has declared it as a "legal currency" they dont declare it as something illegal but it is something legal, in general bitcoin is considered as goods or thing instead of currency. If there is a currency that truly acknowledge bitcoin being a legal currency than that country will be taking it as one of the country's payment method

Some countries are using other countries' monies as legal tender. The most recent example of such is Zimbabwe where the authorities being unable to constrain inflation totally abandoned their own currency (Zimbabwean dollar) in favor of a basket of other currencies (mostly US dollars) in 2009...

So adopting Bitcoin as legal tender (along with other major currencies) may be the right step for a desperate government of a small country

This is for countries that can't manage to control their people but what if we're talking about USA where government is known to be powerful and can take manipulation about the political system, if they don't want bitcoin they can easily use their power to go against it.

[deisik]

different governments have different view about bitcoin. some states consider it as illegal currency. while other have consider it a legal currency and they are allowing every act of bitcoin in their state even they are looking for to apply tax of Bitcoin. but some state have yet not statement about bitcoin they neither consider it as a legal or illegal currency.

So far I think no country has declared it as a "legal currency" they dont declare it as something illegal but it is something legal, in general bitcoin is considered as goods or thing instead of currency. If there is a currency that truly acknowledge bitcoin being a legal currency than that country will be taking it as one of the country's payment method

Some countries are using other countries' monies as legal tender. The most recent example of such is Zimbabwe where the authorities being unable to constrain inflation totally abandoned their own currency (Zimbabwean dollar) in favor of a basket of other currencies (mostly US dollars) in 2009...

So adopting Bitcoin as legal tender (along with other major currencies) may be the right step for a desperate government of a small country

This is for countries that can't manage to control their people but what if we're talking about USA where government is known to be powerful and can take manipulation about the political system, if they don't want bitcoin they can easily use their power to go against it.

This may well turn out to be an illusion. Now we see shooting everyday here and there, and the system may collapse one day just like a house of cards...

Always remember the rock solid Soviet Union which went down like a sand-castle in a matter of years

[just_Alice]

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.

I think that government is smart enough to accept this reality and to adjust to this    developments.

[Jmild1]

different governments have different view about bitcoin. some states consider it as illegal currency. while other have consider it a legal currency and they are allowing every act of bitcoin in their state even they are looking for to apply tax of Bitcoin. but some state have yet not statement about bitcoin they neither consider it as a legal or illegal currency.

So far I think no country has declared it as a "legal currency" they dont declare it as something illegal but it is something legal, in general bitcoin is considered as goods or thing instead of currency. If there is a currency that truly acknowledge bitcoin being a legal currency than that country will be taking it as one of the country's payment method

Some countries are using other countries' monies as legal tender. The most recent example of such is Zimbabwe where the authorities being unable to constrain inflation totally abandoned their own currency (Zimbabwean dollar) in favor of a basket of other currencies (mostly US dollars) in 2009...

So adopting Bitcoin as legal tender (along with other major currencies) may be the right step for a desperate government of a small country

This is for countries that can't manage to control their people but what if we're talking about USA where government is known to be powerful and can take manipulation about the political system, if they don't want bitcoin they can easily use their power to go against it.

This may well turn out to be an illusion. Now we see shooting everyday here and there, and the system may collapse one day just like a house of cards...

Always remember the rock solid Soviet Union which went down like a sand-castle in a matter of years

You know Aaron Swartz? The guy that push his will to have a free access on all information that we should get freely? Government bullied him until he decided to take his own life by hanging himself. This is what I'm talking about how powerful government is.

[mrhelpful]

The way I see it, its already being done.

You notice how coinbase is more of a overseerer for the feds or just towards against darknet stuff as well keeping a clean house even with gambling stuff.

Anyone won at a casino and used a coinbase address will find a unresponsive account later down the road.

If it ever comes down to it, coinbase would be the government partnered bitcoin hub..

[BitcoinPaw]

At my opinion in every country goverment understand that bitcoin is becoming is really popular and creating different plans how to start earning money with this hype, we will see it in future.

[mirakal]

At my opinion in every country goverment understand that bitcoin is becoming is really popular and creating different plans how to start earning money with this hype, we will see it in future.

They are more concern on the KYC and AMLC policy as they foreseen that bitcoin is something that can be use for money laundering due to its anonymous nature.

That is up to them to regulate or not but I am pretty sure people would not comply with their rules and in the end the majority will still win.

[deisik]

You know Aaron Swartz? The guy that push his will to have a free access on all information that we should get freely? Government bullied him until he decided to take his own life by hanging himself. This is what I'm talking about how powerful government is.

I don't know much about him, but it is irrelevant since your sad story is not about how powerful a government can be, but how weak humans are in general (though I perfectly understand this feeling of impotence and frustration thereof)...

Tough times never last, but tough people do (Mandela served 27 years in prison)

[Dr.Osh]

At my opinion in every country goverment understand that bitcoin is becoming is really popular and creating different plans how to start earning money with this hype, we will see it in future.

I guess the government just afraid of excess bitcoin, which transaction is very difficult to trace, because it can make people who are not responsible for the transaction to go around without fear of being caught. but I think the government realized the importance of bitcoin could change the economics of a society for the better

[goinmerry]

At my opinion in every country goverment understand that bitcoin is becoming is really popular and creating different plans how to start earning money with this hype, we will see it in future.

I guess the government just afraid of excess bitcoin, which transaction is very difficult to trace, because it can make people who are not responsible for the transaction to go around without fear of being caught. but I think the government realized the importance of bitcoin could change the economics of a society for the better

They just dont like something that they don't see. They want everything under their surveillance, their law which they created that they can't even follow themselves. If something is not under all them, they start to intervene.

[bitdumper]

technology is challenging government everyday, we are at 2016 and this is already so cool we have 90% of our work done on technology and this is exactly what those old man had ever dreamed of. we are not only using the technology but also developing it our self so the more you know the more powerful you will be

[Kotone]

Maybe Government can't handle the transactions of bitcoin, they can't add a tax on it. But the problem is if they want to be the bridge on every transaction, that will be a big problem. So if that is the case, government shall create a new server or new Blockchain to use and government shall require us to use it. I dont know but that's my own opinion. We don't know if that will be done in the future time.

[abugseuf]

Governemetns are ruled by rich bankers, which in fact is also applicable for the rest of the world.
And with the bankers against bitcoin, means that governments by default are against bitcoin too. Which is something we cannot change.

i think even though it is really sad to say that you might be right about the thing that governments are controlled by banks, i hope bitcoins will change this thing

what do you think why the government is not legalizing the bitcoin because they have no access to control it. the government are still thinking about  bitcoin how to control it and after they will legalize it. i think the world regularize mean that the government can easily influence something easily. and that is the reason that some government have not yet legalize bitcoin.

[crairezx20]

Governemetns are ruled by rich bankers, which in fact is also applicable for the rest of the world.
And with the bankers against bitcoin, means that governments by default are against bitcoin too. Which is something we cannot change.

i think even though it is really sad to say that you might be right about the thing that governments are controlled by banks, i hope bitcoins will change this thing

what do you think why the government is not legalizing the bitcoin because they have no access to control it. the government are still thinking about  bitcoin how to control it and after they will legalize it. i think the world regularize mean that the government can easily influence something easily. and that is the reason that some government have not yet legalize bitcoin.

I think for now we can say that they can not control it for now.. but i think bitcoin is growing day by day and i think we will see that bitcoin will be controlled by laws and government in the future..

[HatakeKakashi]

I would like to add the idea of investing in banks. That is safer than investing in scams. Also, BTC transferring is very fast and cheap. I want a world with new minds not the reincarnated ancestors. Dumb governments won't care, smart ones have already made a move.