Government & Bitcoin

[TonixGaming_14]

Government regulations are so slowly implemented but they're trying to adopt to new financial markets. Everything is changing, regulations and taxes too. We need few years for mass adoption and official law in almost all countries.

Here in our country government regulation is too slowly implementing in marketing but as month goes market are boom. The taxes and regulation is changing as well the governing of the leader in our country. Just we wait for the result of the governing in our country as well the economics status.

[richkellj]

Though governments and banks do not welcome bitcoin,but they are very much excited to implement the block chain technology in which bitcoin works.Banks treat bitcoin as rival but they too are interested to implement block chain technology.Governments have already implemented block chain technology in health sector as well as other sectors.It finds that block chain system is less cost and it is efficient in carrying out operations.Just like they adopted internet and converted all their processes in to digital,they would adopt this technology also.

Agreed! Governments and banks really feel threatened by bitcoins and want them do disappear forever, lol. However they are very much interested in adopting the procedure through which bitcoins operate. They are undoubtedly studying block chain technology and are working for its adoption.

[BlueStackz]

Governments and Bitcoin to me are at variance with each other because Bitcoin is a decentralized currency without the direct control of a government or a central body and so it doesn't have any correlation with any central body or government.

In my opinion I don't want to have any relation on government and bitcoin, because if it is happen they have a possibility to take the government the leadership on bitcoin. Also they had a chance that bitcoin was use in corruption.

If you want to make bitcoin the super currency in world then you must have to accept the fact that in upcoming years governments will make some systems and schemas to try to get this under their umbrella. Concept of bitcoin is based on decentralizations but as far as fame is concerned, governments would at least try.

[wuvdoll]

Governments and Bitcoin to me are at variance with each other because Bitcoin is a decentralized currency without the direct control of a government or a central body and so it doesn't have any correlation with any central body or government.

In my opinion I don't want to have any relation on government and bitcoin, because if it is happen they have a possibility to take the government the leadership on bitcoin. Also they had a chance that bitcoin was use in corruption.

Of course through Bitcoin governments/head of states can enhance corruption by moving state resources overseas and stocking them up in their private banks and so it's right for governments not to have any direct control of Bitcoin.

Bitcoin is decentralized no matter what so if any government have an intention to penetrate it to at least regulate a piece of it and I think it is impossible because the main essence of bitcoin is decentralization.

We all know that bitcoin as this day still no tax in terms of paying different kinds of transactions in the internet because it is virtual and governments in the whole world need to make a system to analyze every single transactions that is happening then that is not impossible but it takes a lot of work so good luck to them.

Thanks for ensuring me that government have no power to regulate bitcoins. I read few post about tracking down bitcoin transactions so was bit worried.
Indeed the main characteristics that made bitcoins famous within few days were their decentralized nature. People badly want freedom and bitcoin is providing them it.

[olubams]

Governments and Bitcoin to me are at variance with each other because Bitcoin is a decentralized currency without the direct control of a government or a central body and so it doesn't have any correlation with any central body or government.

In my opinion I don't want to have any relation on government and bitcoin, because if it is happen they have a possibility to take the government the leadership on bitcoin. Also they had a chance that bitcoin was use in corruption.

Of course through Bitcoin governments/head of states can enhance corruption by moving state resources overseas and stocking them up in their private banks and so it's right for governments not to have any direct control of Bitcoin.

Bitcoin is decentralized no matter what so if any government have an intention to penetrate it to at least regulate a piece of it and I think it is impossible because the main essence of bitcoin is decentralization.

We all know that bitcoin as this day still no tax in terms of paying different kinds of transactions in the internet because it is virtual and governments in the whole world need to make a system to analyze every single transactions that is happening then that is not impossible but it takes a lot of work so good luck to them.

Thanks for ensuring me that government have no power to regulate bitcoins. I read few post about tracking down bitcoin transactions so was bit worried.
Indeed the main characteristics that made bitcoins famous within few days were their decentralized nature. People badly want freedom and bitcoin is providing them it.

Government have the power to regulate anything they want to and they can equally do that without any form of apology to anyone all they will need is to issue some form of policies and assume its part of their discretionary power to use as expounded in the law that set up the relevant agencies pursuing that course of action and they dont even need to go after individuals but exchange sites that makes it possible.

[Pab]

Vietnam is going to accept btc like a legal way of payments,Vietnamise are almost not using banks to transfer money,thay prefer btc,but in Vietnam btc atm is at any corner

[Cazkys]

As I said to other topics, technology should develop and advance hand-in-hand with the country and its people. A country cannot develop when its government is not functional (i.e. corrupt) and a government cannot function properly when it rejects technological advancements that will make jobs efficient and easier.

A government should adapt new ways not reject it and should not cling to the old ways. This would not be easy, of course. For some reason, politicians are allergic to change especially if it’s financially beneficial to them. And of course there’s also the shit ton of red tapes that seem to decorate every branch and offices of every level of government.

There should be at least an event that will impact their decisions. An event big enough that will warrant attention and force their hands to get on with the times. If they don’t listen to their constituents, burgeoning force is one answer.

[Gozie51]

Government won't have no choice than to accept the new digital currency. Btc would even help people to get out of poverty line. Thus,  the government should look for measures to incorporate bitcoin in their financial activities.

[Sled]

Government and bitcoin is now near for being together and a lot of countries already done this kind of thing and they are now accepting bitcoin on their country without any fear from the government. If all the government will accept bitcoin then the revolution will become unstoppable and bitcoin will become the mainstream cryptocurrency in the world.

[nicster551]

Government and bitcoin is now near for being together and a lot of countries already done this kind of thing and they are now accepting bitcoin on their country without any fear from the government. If all the government will accept bitcoin then the revolution will become unstoppable and bitcoin will become the mainstream cryptocurrency in the world.

Yes I agree to you that bitcoin become the mainstream cryptocurrency in the world if the different countries are continuing to accept it as a legal payment method and spread it to their citizen so that everyone are able to use and gain a good profit in bitcoin in the future.

[dvy]

They cant do anything with Bitcoin and cryptocurrencys. Its here, and the only reason to disappear is only being replaced for a better techology. The best move the government got... they can legalize it so they can earn some taxes about it, but seems they are underestimate the power of Bitcoin...

[gabmen]

They cant do anything with Bitcoin and cryptocurrencys. Its here, and the only reason to disappear is only being replaced for a better techology. The best move the government got... they can legalize it so they can earn some taxes about it, but seems they are underestimate the power of Bitcoin...

They will have a hars time and heavy challenge if they think it would be easy to tax btc. It goes against btc's nature so i don't think that's possible unless they can find a middle ground gatbwon't compromise bitcoin's basic features.

[hyunee]

Government take it slowly to fully accept cryptocurrency. But I know for sure that they are the ones who are fully aware of this currency. They most likely try to embrace and study what benefits it will give to us. I know government will not be fully against this cryptocurrency because it does not only help people who are believing or gaining profit, not only investors but also the country. This has something to do with economical benefit that our country will most likely benefit.

[Kousei23]

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 today government doesn't accept bitcoin fully and good. But as I can see here in our country bitcoin is somehow slowly accepted because many people are using it today and they also saw ehat are the positive feedbacks and effects of it. And how it helps people on their problems epecially financials.

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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 and government as I know isn't related because bitcoins is not hold by government. And the government has nothing to do it unless they also using it. Bitcoin is very helpful today to us in a way that support us especially in our financials but what could we do if government aren't okay with it. We must explain it to them by seminars or other lectures.

[matuson]

All governments for a long time already does not meet the requirements of their peoples. Perhaps it is a contagious disease because we see the same situation around the world. Bitcoin can bring justice therefore all governments will have to deal with it.

[omonuyak]

Governments will be the most beneficial to the blockchain technology if its adopt it early and also ready to accept the reality and not the manipulating system we are having. The system of fiat is very expensive and the reality we get from it is inflation and high cost of running governments and business. Bitcoin and blockchain technology on the others hand will help the governments to break the back bond of inflation and reduce costs of running governments. The question is who will adopt bitcoin first?

[que91]

Government won't have no choice than to accept the new digital currency. Btc would even help people to get out of poverty line. Thus,  the government should look for measures to incorporate bitcoin in their financial activities.

They do not care Bitcoin or cryptocurrency can help poor people get out of poverty or not. The thing they need from Bitcoin is taxes fees it, if cannot do that, they never accept Bitcoin for make them loss tax fees from people in their country.

[Basmic]

Government won't have no choice than to accept the new digital currency. Btc would even help people to get out of poverty line. Thus,  the government should look for measures to incorporate bitcoin in their financial activities.

They do not care Bitcoin or cryptocurrency can help poor people get out of poverty or not. The thing they need from Bitcoin is taxes fees it, if cannot do that, they never accept Bitcoin for make them loss tax fees from people in their country.

That is why it is very important to develop trade with bitcoins. Such transactions do not fall under laws and can help us to avoid accusations of concealment of income. Someday the government will fight bitcoin and we need this to be ready.

[Kiweikoo]

Government or no government. The ideals of Bitcoin is simply unstopabble.

That’s true! But governments can have impact on them. Bitcoins can be somehow disturbed by these corrupt governments. They don’t really want people to live a life of their own choice especially monetary freedom of public is not digested by governments at all. Governments and banks are really scared of bitcoins.