Government & Bitcoin

[astrid.uchiha24]

If government want to take advantage of bitcoin, they should regulate businesses the ICO programs, exchange websites and imposing taxes on altcoins in order for other traditional businesses to cope up with the revolution of blockchain market. If a government does not steps in to this revolution brought by government, traditional businesses should make an innovation in order to stay competitive with today's market.

[slavla3]

Conclusion is that different government companies, departments have categorized bitcoin otherwise. I read someplace that governments could worry bitcoin result in benefit is identified by users and not central governments.

[georgiyfo]

this is massive news, I Consider other place will pursuing japan action. Japan Proposes Definition for Bitcoin in Bid to Regulate Exchanges

[the rise]

If government want to take advantage of bitcoin, they should regulate businesses the ICO programs, exchange websites and imposing taxes on altcoins in order for other traditional businesses to cope up with the revolution of blockchain market. If a government does not steps in to this revolution brought by government, traditional businesses should make an innovation in order to stay competitive with today's market.

Setting up KYC alone is not enough, there are still many loopholes that can be used for money laundering, ICO regulations also can not because investment is anonymous and free, will spend a lot of time and will not be effective. It is best to create the main altcoin as a transaction center, so they will not experience inflation and let bitcoin as the second largest digital exchange option.

[Aganythe]

None of the governments will adopt bitcoin. If Governments undertake bitcoin certainly they will just take manage of the technology and make them according to their requirement. Currently being a open up resource with out flaws is the best function of bitcoins technology.

[Turiettly]

I consider the Government officials have already began to use bitcoins, but they are not disclosing it, they want to take benefits from bitcoins, but never want that the society ought to be benefitted from it.

[taiwww]

Banks and Government must start accepting new ideas concepts. Governments are well aware of bitcoins but they are not accepting it due to political pressure etc. Governments of all countries wants to exercise their hold on the economy, they will never allow decentralize cryptocurrencies to work on their own. They will monitor or try to keep control over the operations of trade this will destroy the transparency of bitcoin.Though many Asian countries have allowed bitcoin as a legal tender, some are promoting them by opening bitcoin ATM etc. Reserve Bank Of India is warning people not to use bitcoin currency.

[jayhawk1]

To my opinion governments are not the worst enemies of Bitcoin. Many of them are willing to accept the blockchain technology, which is of course not the same, but some governments together with central banks are also testing the use and possibilities of Bitcoin. In some due time I think many governments will regulate the Bitcoin and thus also recgonize it. And we don't have to be afraid of that.

Yeah, I agree with you. But it is sad to know that the Chinese government is not longer support bitcoin. AS you can see, they ban permanently bitcoin exchanges which are on their country and cause of that reason, the price of bitcoin fall hardly. China is the biggest country in this field and many big investors are living there. It is not very good that CHinese government decides to against bitcoin

I also agree with you. Different governments and different thinking’s about bitcoin. I also saw that some of the governments have already legalized bitcoin in their countries, like Vietnam, Japan, India and South Africa. While some are against the digital currency like China.

But I feel that with the passage of time the entire world will accept and regularized bitcoin one day and this will be the only usable currency in the future.

[Nybhelle]

In my opinion,the government should introduce bicoin in society or community.Here in my country bitcoin is not much popular,and if the government allow to use and give people some knowledge about bitcoin maybe it can help and have a big benefit in the community and in the economy.And i hope they should not give a tax on it,specially that bitcoin is also a source of income.

[kamilah147]

government can't handle bitcoin and for sure there will be more problems if the government handle bitcoins and for sure the government will just manipulate it's price because they are handling it.

I'm sure this will never happen because if the government takes over the bitcoin then our decentralised bitcoin won't be decentralised anymore. That's the thing, currently it's not regulated and it's price is increasing because we can manipulate the way we want it. We can bring up the flood of investment with big investors and can just pump it the way we want. :-)

If government is there then everything will be messed up and for sure they will manipulate the price for themselves and not for the public interest. Might do that for the millilitre use who knows. To buy weapons. Lols. So hopefully that should not happen.

I hope that government would not take over the bitcoin because probably the currency will change to decreasing point and yes obviously they were going to manipulate the price for themselves because most of the governments are corrupted.

really, if the government takes over the bitcoin it's possible, only people can afford it with bitcoin. because in this case if the government takes over, there are certainly people who will ruin it. such as corruptors who have corrupted the state money.

[Sled]

government can't handle bitcoin and for sure there will be more problems if the government handle bitcoins and for sure the government will just manipulate it's price because they are handling it.

I'm sure this will never happen because if the government takes over the bitcoin then our decentralised bitcoin won't be decentralised anymore. That's the thing, currently it's not regulated and it's price is increasing because we can manipulate the way we want it. We can bring up the flood of investment with big investors and can just pump it the way we want. :-)

If government is there then everything will be messed up and for sure they will manipulate the price for themselves and not for the public interest. Might do that for the millilitre use who knows. To buy weapons. Lols. So hopefully that should not happen.

I hope that government would not take over the bitcoin because probably the currency will change to decreasing point and yes obviously they were going to manipulate the price for themselves because most of the governments are corrupted.

really, if the government takes over the bitcoin it's possible, only people can afford it with bitcoin. because in this case if the government takes over, there are certainly people who will ruin it. such as corruptors who have corrupted the state money.

The government will not be able to take over bitcoin because they are not strong enough to control a decentralized thing in the internet and there is a lot of proofs that is true because like china that cannot regulate bitcoin so they decided to banned bitcoin and ban all the exchanges that has connection with different cryptocurrencies like bitcoin and also the other atlcoins.

[Ngewex Yuk]

It is time for the government to accept bitcoin because bitcoin can improve the welfare of citizens and reduce unemployment, for example is in china, bitcoin there can be a big job land.

[xanxus.kun]

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.

good point, i guess communication is the key here but the main problem is BTC, it is decentralized and no appointed leader or someone who represents it, rather everyone who uses BTC represents it. though it may take time but i believe government really needs to adjust, here whether their in advantage or disadvantage, just for the sake of progress.

[rocketbits]

I consider the Government officials have already began to use bitcoins, but they are not disclosing it, they want to take benefits from bitcoins, but never want that the society ought to be benefitted from it.

Yes, it is very much possible that the government officials have started investing in bitcoin. As far as government and bitcoin is concerned, I think government needs to think about bitcoin as bitcoin can greatly affect the economy of any country. It can no doubt bring a lot of wonders to this world if the government declares it to be legal.

[Mailly]

I feel they will by no means care about bitcoin in a significant maner.All gov. are following if the blockchain techology.Govt -> banking companies -> huge info firms and businesses.We are the betatesters for their potential earnings. Its not a negative issue but it will be far better to observe themas such massive partys like to bully or take advantage on men and women.

[Gozie51]

Governments are rallying round bitcoin recently. I guess some are adopting it while others are yet to take a decision on it but what seem to be certain is that bitcoin is not waiting for any government but rather on the long bullish for anybody to hang onto the rid.

[ferdaus]

Bitcoin technology can affect in financial system of any country.But there are a lot people here who are aware and part of bitcoin, yet no negative thoughts about it.

[Tenderino]

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.

What are the new ways of doing business and how governments are negatively affected?

Always if you do business you have to register it at the local authorities and you are obligated to do accounting and pay taxes if you have winnings. And this totally independent of whether you have a taxi service without taxis or provide lodging without being the owner.

But if you have numbers that the tax revenue within a certain country decreased because of bitcoin, feel free to publicise them?

[surfinonmyownwavebaby]

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 wouldnt say there are a long way from accepting this new reality. Japan legalized bitcoin in all their shops earlier this year and just now Russia is issuing their own cryptocurrency. If that is not advancement on their parts I

dont know what it is. This indicates that some countries are actively looking for a solution and for a way to be relevant in the future whereas some countries are stuck in the past and are resisting such change. I know people

dont like change but it is what it is and if you dont adapt you will die. Adapt or die baby

[masterchief001]

Bitcoin technology can affect in financial system of any country.But there are a lot people here who are aware and part of bitcoin, yet no negative thoughts about it.

The negative of bitcoin does not come from its origin. Conversely, it comes from the way we humans use bitcoins. In fact, bitcoin is the most transparent and cleanest currency, however, humans have used it for many bad purposes, so it is stained.