Government & Bitcoin

[winterland]

Governments will always want to be able to control and regulate bitcoin since it's directly related to financial value. In a way, it's a good thing, as it will allow for consumer protection and make it harder for scammers to get away with their crimes. However, too much control and restrictive regulation will always be a problem

The problem for them is that bitcoin is designed to be impossible to control they can create as many laws as they want but it is not going to change the fact that people will only accept those rules if they want, for all of those that do not care they are going to keep doing whatever they want regardless of their laws.

[poisonivy77]

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 guess the government will not adapt to this changes. having bitcoin decentralized it will cause confusion for the govern to decide to change the traditional ones to what is demanded by the new government.

[Malaya]

government is already adapting and working with banks, there are some of them which are using blockchain technology to overcome probably bitcoin

i doubt it will stay there and watch bitcoin sucking its fiat(scam) currency

The adaption of the government from different parts of the world has been welcomed by many for a couple of years now. One example is Thailand have accepted bitcoin in their country as well Banko Sentral ng Pilipinas (BSP). There must be really huge impact to the economy of one's nation when bitcoin will be legalised by different nations.

[iyan33]

In my opinion the government and Bitcoin will not be able to work together,their different systems become the main problem,the governance system is centered on one center and the Bitcoin system is not centered on a single center.
The government is already working with the many Bank,and if the Government accepts Bitcoin and they work together the possibility of great things will happen.
In this world nothing is impossible,we just need to trust them and see what will happen next.

[Batmain]

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.

Yup it's like mixing fuel and fire. Unless that government is kind enough to give people the financial freedom that they are seeking, they won't let this go especially because taxes are the firepower of some country. We still have a long way to go in order for the settlement between the government and crypto community to happen, and Im hoping that this kind of issues will be solve soon without restricting cryptocurrencies.

[bajingluncat]

The government should make regulations on bitcoin transactions and taxes on every transaction to get additional state income, but who knows what happens in some countries to block bitcoin on the grounds of maintaining the value of their currency, they only see from the bad side of the bitcoin without regard to things others that are more beneficial to the state if put to good use.

[PORN_coin]

in my opinion eo can not be prolonged forever
on an example I can offer a position of the state Belarus
they want to ban ordinary people from dealing with non-certified platforms and make exchangers public
  so is China
Japan goes the other way

[hynext]

If all the people use bitcoin in the day by day living then the government are trying to adopt a new financial markets. They make change to their regulation and make taxes to all transaction. Governments are already have plan to this blockchain technology and how it is going to change the existing banking system. Maybe in the near future government will adopt it 100%.

[Naoko]

Pretty sure bitcoin and goverment won't work. As bitcoin is free to taxes and goverment want taxes. The most possible way - the goverment will do a digital currency it is most possible they'll make their own digital currency.

[bytomboy1234]

Most of the government system today tries to regulate the usage of Bitcoin but they can't and will not ever regulate it. They can adopt it as form of payment for faster transcation. I believe in the near future most countries will adopt digital currencies.

The thing is governement control or try to control people and tax them. With bitcoin they got 2 reasons reasons to control bitcoin.
Which makes bitcoin vulnerable to new regulations. As you can see many governements already tax bitcoin income.

[Crypto-Age]

The governments can ban crypto coins whenever they want . but now they dont.
They can announce btc is illegal. then we change btc to money very hard. because markets can be closed.

[DamnationKiss]

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[Trela]

Most of the government system today tries to regulate the usage of Bitcoin but they can't and will not ever regulate it. They can adopt it as form of payment for faster transcation. I believe in the near future most countries will adopt digital currencies.

The thing is governement control or try to control people and tax them. With bitcoin they got 2 reasons reasons to control bitcoin.
Which makes bitcoin vulnerable to new regulations. As you can see many governements already tax bitcoin income.

The government did not tax Bitcoin. They only tax the cryptocurrency exchanger, the user of these exchanges and the cryptocurrency miner. They are the people need to pay the tax, if you are only a holder of Bitcoin, no one know you are holding it because the Bitcoin system is private system. You can know the amount of Bitcoin in an address, but you do not know who one has that amount.

[ceedtime]

Most of the government system today tries to regulate the usage of Bitcoin but they can't and will not ever regulate it. They can adopt it as form of payment for faster transcation. I believe in the near future most countries will adopt digital currencies.

The thing is governement control or try to control people and tax them. With bitcoin they got 2 reasons reasons to control bitcoin.
Which makes bitcoin vulnerable to new regulations. As you can see many governements already tax bitcoin income.

The government did not tax Bitcoin. They only tax the cryptocurrency exchanger, the user of these exchanges and the cryptocurrency miner. They are the people need to pay the tax, if you are only a holder of Bitcoin, no one know you are holding it because the Bitcoin system is private system. You can know the amount of Bitcoin in an address, but you do not know who one has that amount.

Some governments tax bitcoin. They want to get more tax from bitcoin users. This is the reason. China went further and banned bitcoin.

[cazkooo]

Some governments tax bitcoin. They want to get more tax from bitcoin users. This is the reason. China went further and banned bitcoin.

I believe that sooner or later everything will change, goverment cant keep ignoring or banning bitcoin. Sooner or later they will realize this gem. It is about time that the government is aware of this. Some government even has take measurement to study about blockchain and the technology behind it and the other will follow soon

[TheAndy500]

Some governments tax bitcoin. They want to get more tax from bitcoin users. This is the reason. China went further and banned bitcoin.

I believe that sooner or later everything will change, goverment cant keep ignoring or banning bitcoin. Sooner or later they will realize this gem. It is about time that the government is aware of this. Some government even has take measurement to study about blockchain and the technology behind it and the other will follow soon

Whole depends how goverment will look at crypto cause they can't stop developing it into people thinking but they can't get some profits from it too, so just wait what they thinking will be in future.

[DIMKAZDS]

Government and Bitcoin are two interrelated thing. In some countries like japan, usa etc both bitcoin and government work together, in some countries  like india bitcoin working under and in some countries like china government ban bitcoin. In many countries government work with bitcoin to reduce unemployment and help people to come out from poverty line. In some countries bitcoin working with money transaction whlie in country it is declared as illegal due to some sort of reason.

[AjithBtc]

It's very rare to find governments showing positive approach on bitcoin. Very few have initiated study with the requirement of bitcoin in their administration to support growth, while the rest always look it something an trademark that's developed for illegal and negative needs. This will change in the future when countries adopting bitcoin experience the growth in large scale compared to other countries.

[Perunex]

In my opinion blockchain is almost unstoppable and will be used in the future also by the banks and government. At least monetarization of blockchain. And here are also my fears of all crypto currencies we have now with bitcoin on top to be the new thing - a new worldwide currency. When legislation will hit Europe, there will be a great test for the community.

However a blockchain as a technology will definetly be used in a non-monetarized way "from the people for the people". For the monetarization part: if it only replaces Western Union it is already huge as it will be much easier for the third-world countries to send money.

[zeaderza]

Governments will surely adopt bitcoins if they see potential if it helps to boost the economy but it is difficult to handle because it is cryptocurrency. There is a risk but it can be handle by the government. If the government wants a fast transaction in real-time, the bitcoin is here.

Yes its a risk to the government because the price of bitcoin is continuously changing and what government wants is stability. It will be hard for the government to handle bitcoin but anything is possible if they put their mind into it. I think government has no choice but to adapt because the world is changing and sooner or later technology will conquer everything.

Bitcoin is really good for those who are having international business and are in fond of making fast transactions. Bitcoin is obviously best solution for making the economy of the country strong because it has given many people jobs especially to those who were living a life of poverty and unemployment when they were even holding degrees. I am in favor of this that bitcoin sued be sued for enhancing eth economy.