Government & Bitcoin

[~Bitcoin~]

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.

Yes actually smart government have already sensed the future potential of bitcoin/blockchain tech thats why they have already started supporting local bitcoin exchangers as well as blockchain based startups. Only dumb, noob government like in underdeveloping countries they are only busy with political game for power banned or even don't know the revolutionary bitcoin tech.

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[goinmerry]

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.

Yes actually smart government have already sensed the future potential of bitcoin/blockchain tech thats why they have already started supporting local bitcoin exchangers as well as blockchain based startups. Only dumb, noob government like in underdeveloping countries they are only busy with political game for power banned or even don't know the revolutionary bitcoin tech.

It had been tradition and it is still happening. If we just go with that flow then no upgrades will come. I hope this bitcoin can answer some to make an end or take the traditional view to a higher level. Government should take a risk to what they can do with adapting bitcoin.

[Maslate]

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.

Yes actually smart government have already sensed the future potential of bitcoin/blockchain tech thats why they have already started supporting local bitcoin exchangers as well as blockchain based startups. Only dumb, noob government like in underdeveloping countries they are only busy with political game for power banned or even don't know the revolutionary bitcoin tech.

It had been tradition and it is still happening. If we just go with that flow then no upgrades will come. I hope this bitcoin can answer some to make an end or take the traditional view to a higher level. Government should take a risk to what they can do with adapting bitcoin.

I doubt that dude, I think the government will never adopt and they just want us to adopt to them since that is all they know. They believe they have the highest power are we humans are just their slaves. We are in the evolution now and I believe is just created at the right time to have the freedom that the government is taking from us.

[Dudeperfect]

Interesting topic. Yes, governments are lazy to learn about new things. We should not forget, they are central authority and they can do literally anything and under the label ‘National Interest’ they can emerge as a threat for crypto currencies.

I think, we as a bitcoin community should find solutions to complicated issues like ‘misuse of anonymity’, ‘tax evasion’, ‘economic factors such as local currency’ etc etc. We should really focus on going hand in hand instead of struggling with governments. Recently I read about ‘quantum computers can destroy bitcoin’ and if it can destroy bitcoin then any crypto currency will not be safe in such condition.

[WEBcreator]

We are in the evolution now and I believe is just created at the right time to have the freedom that the government is taking from us.

Adopting new currency means that the government is releasing their monetary possesion and that wont be happening because if there is no monetary possesion then government wont have any usage for the country which means that the country will be able to run without government's intervention

[noormcs5]

If i am talking about myself, so my government is not accept the bitcoin even in my country mostly people don't know about bitcoin, only a few people know about it and i am one in it. Also i can't use the bitcoin in my country shops but i hope in future may be my government will be accepted the Bitcoin, So in my view, government has a great part to promote the bitcoin. 

[cjmoles]

Yes.  There is no doubt that there will be governmental intervention in the future.  I am pretty sure that the development of digital currency technology and its applications are being thoroughly studied and aggressively watched.  The question isn't "if there will be government intervention," but "when will there be government intervention."  The extant of that intervention, when it comes, is what's more relevant.

I don't know....but I find similarities between the USA's stance on the online poker industry prior to Black Friday and its current stance on digital currency.  Remember waking up to the FBI flash screens?  We didn't even see it coming!

[DangerousSausage]

I think that some govrements will say that bitvoin ctyptocurrenc is illegal and say that their local cryptocurrency is legal to push up owj economy.

[extrabyte]

Bitcoin belongs to people and I think it is not easy for government to adapt and control bitcoin, what can they do is blocking bitcoin on their country, increasing the fees/taxes, but as anyone else they can trace where are their citizens spending their bitcoins. Bitcoin is small comparing to fiat which they have what to control.

[Yakamoto]

Bitcoin belongs to people and I think it is not easy for government to adapt and control bitcoin, what can they do is blocking bitcoin on their country, increasing the fees/taxes, but as anyone else they can trace where are their citizens spending their bitcoins. Bitcoin is small comparing to fiat which they have what to control.

Even blocking Bitcoin and taxing it doesn't necessarily have any affect, they would have to be far more involved, especially actively involved, to make a difference. All they would really kill is the surface Bitcoin economy, and the exchanges. Those who are still dedicated would just start to use it in a more inconspicuous manner, and chances are the black market use of Bitcoin would grow again, like in the early days of Bitcoin. I have no idea what would happen to those who already own Bitcoin in a situation like that, but I guess something would definitely have to happen to them, unless they just destroy their Bitcoin and private keys and everything.

[deisik]

Bitcoin belongs to people and I think it is not easy for government to adapt and control bitcoin, what can they do is blocking bitcoin on their country, increasing the fees/taxes, but as anyone else they can trace where are their citizens spending their bitcoins. Bitcoin is small comparing to fiat which they have what to control.

Even blocking Bitcoin and taxing it doesn't necessarily have any affect, they would have to be far more involved, especially actively involved, to make a difference. All they would really kill is the surface Bitcoin economy, and the exchanges. Those who are still dedicated would just start to use it in a more inconspicuous manner, and chances are the black market use of Bitcoin would grow again, like in the early days of Bitcoin. I have no idea what would happen to those who already own Bitcoin in a situation like that, but I guess something would definitely have to happen to them, unless they just destroy their Bitcoin and private keys and everything.

Blocking Bitcoin (did you mean outlawing it?) is not the same as taxing it (the latter de facto means legalizing it). Further, if "they" decide to kill the Bitcoin economy (however small it might be) and the exchanges (things might get serious here), that would require a concerted effort of whoever make up "them". So "they" should be governments of all major powers out there like the US, China, EU, etc...

I guess this is highly unlikely, at least, as of today

[Cresciuanto]

every country has their own rules and regulation. they have their own policy about bitcoin. in some countries the bitcoin has been legalize and people are trading it as a normal currency, while in other countries it is not yet legalize and there people cannot use it as a legal currency. in my country the government has not yet given any statement about bitcoin that either it is a legal currency or not, therefore some people who know about bitcoin are trading it as legal, but it is not accepted in government departments and most of the local shopkeeper also have no idea about bitcoin therefore they are also not accepting bitcoin in their shops. hope that very soon our government will also start thinking about bitcoin and will consider it as a legal currency and then we will be able to use it in our local markets and also in government departments.

[Gahs]

Most governments do not have issues with people spending bitcoins, just don't expect them to make it the official currency in place of fiat any time soon.

[CryingMidget]

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

Bitcoin was created for there is no inverention from third side in this situation is goverment and bank so i think goverment just adopted bitcoins technology and make  their own, i imagine there is no fiat anymore and money has converted to cryptocurency and each country have their own.

[mirakal]

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

Bitcoin was created for there is no inverention from third side in this situation is goverment and bank so i think goverment just adopted bitcoins technology and make  their own, i imagine there is no fiat anymore and money has converted to cryptocurency and each country have their own.

You're right, that is why it is called as decentralized coins because the government cannot control it and no one is. I believe it is better to be this way because we can achieve complete freedom in doing transaction only even anonymous.

[SvenBomvolen]

   Governments & bitcoins, future will be interesting. Many countries still waiting with laws about bitcoins, probably they still don't know how to tax it, or to control it. We still didn't see any real moves in that direction, looks like they still investigating and monitoring situation.
   How they enter into bitcoins, that will define bitcoin in the future. Some will give support, some will try to ban it, in both ways people will use it as long as they have some profit from bitcoins.
   Can we expect governments to unite and make some new coin?

[socks435]

   Governments & bitcoins, future will be interesting. Many countries still waiting with laws about bitcoins, probably they still don't know how to tax it, or to control it. We still didn't see any real moves in that direction, looks like they still investigating and monitoring situation.
   How they enter into bitcoins, that will define bitcoin in the future. Some will give support, some will try to ban it, in both ways people will use it as long as they have some profit from bitcoins.
   Can we expect governments to unite and make some new coin?

Honestly almost all people here dont want to involve in government because they want to be anonymous or they dont want to have a tax while they are transacting bitcoin to another wallet..

[serjent05]

I think one of the reason why government still exist is because of it's capability to adapt and adopt technology and changes.  When time comes that bitcoin has been used by several merchants and it's local people, government won't be blind and not see the potential of it.  So Government will adopt the new currency in a way that it will not affect it's system thatmuch.  It will adapt to the current trends and needs of its local community to make a better outcome while using Bitcoin.

[deisik]

I think one of the reason why government still exist is because of it's capability to adapt and adopt technology and changes.  When time comes that bitcoin has been used by several merchants and it's local people, government won't be blind and not see the potential of it.  So Government will adopt the new currency in a way that it will not affect it's system thatmuch.  It will adapt to the current trends and needs of its local community to make a better outcome while using Bitcoin.

It may not be able to either adopt something or adapt to something. If it is not too late, it will try to fight it, if it is, it gets replaced by more robust forms of government (or with something which is not a government at all)...

This is what happens in nature all the time

[outatime1]

Everything seems to be going electronic right now because of computer and smart phone technology. Finance is going to have to be electronic in the future just like communication (mail, text) and information (internet). Bitcoin could fit into that equation.