Government & Bitcoin

[wenceslaonoel03]

Government and Bitcoin. Here in my country, bitcoin is not recognized by the government simply because bitcoin is unregulated and the government hate it. Usually, the government here tends to take control of the currency and abuse the money circulation; whereas in bitcoin, it is intangible which leaves the government clueless on how to control this, thus no abuse, thus, no benefit for them. For the general public, bitcoin is a way around the hindrance of government manipulation, so it benefits us.

[Kr8os]

Financial institutions around the world are embracing Blockchain technology, but Bitcoin is more or less a competitor of them. I don't think it's really possible for the government to regulate bitcoin, but it can probably limit the flow of the currency with restrictions, assuming they have a legitimate reason for it of course.

[futuret]

We are in a fast changing of technology. The governments are just fine because they will soon adopt when necessary. Governments are supposed to be make sure everything adopted and used are beneficial to its populace. The problem sometimes is corruption and power. Financial institutions are controlling the world system and are many times affecting governments effectivity.

Right, Internet Of Things should be happens on future. But I've no idea may sure, technology blockchain able to help goverment.
Like you said, those on future possibily corruption will be happens.

It is true the blockchain and the other bitcoin sites and the wallets are giving the bitcoin tax and it is very beneficial for the government as well so buys the bitcoin and hold for the long time it will be better for the savingpurpose.  Bitcoin is being legal in alto of the countries and then they are investing I n the bitcoin so in the future the bitcoin will be the main currency in almost all the counties.

[terrific]

Financial institutions around the world are embracing Blockchain technology, but Bitcoin is more or less a competitor of them. I don't think it's really possible for the government to regulate bitcoin, but it can probably limit the flow of the currency with restrictions, assuming they have a legitimate reason for it of course.

Government will play a big role for the growth of bitcoin. They may not regulate it but they can control the people who are using it, just like what China did. They stopped ICOs and they can also stop transactions coming in and outside China's territory with crypto's. Technology is the major improvement for businesses and also for the local government bodies, they will just embrace bitcoin just like we are never expecting to happen but we will see it going there.

[Andre#]

We are in a fast changing of technology. The governments are just fine because they will soon adopt when necessary. Governments are supposed to be make sure everything adopted and used are beneficial to its populace. The problem sometimes is corruption and power. Financial institutions are controlling the world system and are many times affecting governments effectivity.

Right, Internet Of Things should be happens on future. But I've no idea may sure, technology blockchain able to help goverment.
Like you said, those on future possibily corruption will be happens.

It is true the blockchain and the other bitcoin sites and the wallets are giving the bitcoin tax and it is very beneficial for the government as well so buys the bitcoin and hold for the long time it will be better for the savingpurpose.  Bitcoin is being legal in alto of the countries and then they are investing I n the bitcoin so in the future the bitcoin will be the main currency in almost all the counties.

Where is the source of this information?
I did not hear any information about any online wallets or desktop wallets will give the data of user to the government and help them tax fee us.
Do you really understand the blockchain system?
No one can get data or private or source ip of user from this system, even you spend all time to research it.

[ask]

If we call crypto coins "crypto anarchy" then goverments hate us.
but if we stay as crypto community there is no problem.

[foxbat]

Financial institutions around the world are embracing Blockchain technology, but Bitcoin is more or less a competitor of them. I don't think it's really possible for the government to regulate bitcoin, but it can probably limit the flow of the currency with restrictions, assuming they have a legitimate reason for it of course.

In fact, bitcoin is not a competitor if the government can manage it. Conversely, it can assist the government to develop their national economy. Bitcoin is a delicious piece of cake for anyone to use.

[suzanne5223]

Government is the first priority for bitcoin.in order to start its business government permission is must needed. Without government permission it cannot be legalised. Bitcoin is an independent company and governments doesn't interfere its work. In many countries bitcoin and government together control the economy of that countries. With help bitcoin government slove unemployment conditions of their countries. In many countries government ban bitcoin like china etc. While others accept it.

Yes, bitcoin is truly independent and do need the government permission in other for it be legalized but the issue of the Chinese banning crypto currency exchanges was out of coward because they are scared bitcoin could rule over their national currency due to their national currency loosing value while bitcoin help their citizen financial crisis.

[Afnan_faizah]

If we call crypto coins "crypto anarchy" then goverments hate us.
but if we stay as crypto community there is no problem.

I agree with you mate, impressions quite influential. Bitcoin in the past was dominated by sin enterprises. But now,  bitcoin is dominated by legitimate merchants and exchanges. I think bitcoin image has become good,  so many government are no longer hates bitcoin.

[prudencetoller]

Government is the first priority for bitcoin.in order to start its business government permission is must needed. Without government permission it cannot be legalised. Bitcoin is an independent company and governments doesn't interfere its work. In many countries bitcoin and government together control the economy of that countries. With help bitcoin government slove unemployment conditions of their countries. In many countries government ban bitcoin like china etc. While others accept it.

That is true. But we can start an anonymous online business without any permission when we use bitcoin as a form of payment. As you know, bitcoin is based on the blockchain which is decentralized and can not be controlled by any individual or organization. Therefore, we can become anonymous on the internet and open our own anonymous business without any problem. There are many goods we can sell on the internet

[BeGoods]

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.

Yeah, honestly we can not blame the nature of Bitcoin or any currency. All things is by the user, because the user are bad guy, it also make Bitcoin become an evil tool for them. If the world have not them, all things are clean.

Yeah bitcoin is just a media good and bad bitcoin is determined by each user of its own. I agree that it is not appropriate to blame bitcoin but of course the government can not blame the user also and told users to use bitcoin just for good purposes only. of course its can be do right ? and then the government chooses a shortcut by giving policy to bitcoin that is like a prohibition and certain laws

[Sasha Grey]

Many governments are nervous about the presence of bitcoin threatening the regular money, this makes the government banned bitcoin so bitcoin users become anxious, I think the government should legalize bitcoin to be more useful.

[coinkhoj]

Sure, blockchain technology is adopting by many organization even government departments also, but bitcoin adoption is riskful for any country's economy.

[lili song]

Many government still don't know about bitcoin, so government banned the bitcoin in their country.
Government said can't control the bitcoin. In my country, our government still not believe with bitcoin. I hope someday my government will accept bitcoin.

[valisa]

I think the government of a country must immediately follow by legalizing bitcoin so that our country is not left behind with other countries and our country must follow the development of technology.

[trako]

I think the state is the biggest mafia. so she wants to intervene in everything. From time to time there will be support when there will be support. I can not think of state and bitcoin at the same time.

[kateryana81]

If we call crypto coins "crypto anarchy" then goverments hate us.
but if we stay as crypto community there is no problem.

I agree with you mate, impressions quite influential. Bitcoin in the past was dominated by sin enterprises. But now,  bitcoin is dominated by legitimate merchants and exchanges. I think bitcoin image has become good,  so many government are no longer hates bitcoin.

Absolutely, impressions are quite helpful in making trust to your users. In past, like you said, there was an impression that bitcoin is only used in deep web and all the criminal activities were considered to be dealt in bitcoins, thus people were not getting into it for their own safety. But now, as the impression is going virtue, people are coming into it and joining this world.

[winterland]

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?

Bitcoin is going to affect negatively the interest of governments, they can add taxes to credit cards transactions but bitcoin is never going to do that and if the devs allowed this then someone will just fork the network and we will continue with a bitcoin without that feature.

[BTCevo]

If we call crypto coins "crypto anarchy" then goverments hate us.
but if we stay as crypto community there is no problem.

I agree with you mate, impressions quite influential. Bitcoin in the past was dominated by sin enterprises. But now,  bitcoin is dominated by legitimate merchants and exchanges. I think bitcoin image has become good,  so many government are no longer hates bitcoin.

Absolutely, impressions are quite helpful in making trust to your users. In past, like you said, there was an impression that bitcoin is only used in deep web and all the criminal activities were considered to be dealt in bitcoins, thus people were not getting into it for their own safety. But now, as the impression is going virtue, people are coming into it and joining this world.

Yes that is true, and there is no way bitcoin can drop here because as long as there is still dark activity underground bitcoin will stay alive right away. And government could not have the chance to take control of this. But I just wondering, if you remembered past few years ago that cyber cops busted some criminal and confisicated their coin. How is that possible?

[charlemagne_15]

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 the government will have a hard time accepting all this new modes of business since this doesn't benefit them in any ways. There would be a lot of trouble for sure if ever bitcoin will be handled by the government since the investors like it as decentralized. The threat that bitcoin may be used by government's greed is not a good thing and it should not happen.