Government & Bitcoin

[copypaper5]

I see the government has started adapting to this blockchain technology, because now the government is busy making rules about this bitcoin.

[Ailmand]

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 before you start thinking of the local government, which would only follow suit with how the national government moves, I think that it is better to focus on how the governments accepts, adapts and embraces the cryptocurrency market, specifically Bitcoin as part of the local economy of their country. Many of the pioneers of these movements have already harvested the benefits of their early change of heart, because as of now, the market has turned into a global power that may affect world trade and business systems at large. Also, since more government now have opened their eyes in the fact that Bitcoin is a legit means of business, more and more would try to rumble things up to make it fit in their local business plans to have some gainful revenue.

[bitctrimor1]

I think bitcoin, like all other things internet will surpass any government, try to kill it off and it will emerge somewhere else. The people will get what they want and need if it is available, no government or laws can supress it. Building a super firewall, people will break holes and find their ways around it. Spy on your citizens? Enter Tor browsers and more secure communications. Try to ban or overpower bitcoin? Who knows what we will come up with, but it will never be the way the governments have intended. We never surrender or break at the will of those who do us wrong!

That may be true and a possible case to happen; however, I think that instead of killing it off, most governments would try to assimilate the cryptocurrency market in their local trade and investment systems to be able to seize the opportunity of gaining profit from it. It's not that easy to find revenue nowadays because taxes can't be raised too much. Therefore, having a potential-filled venture like cryptocurrencies can help governments improve their economies. It has happened to those that have already adapted it, and most likely, more and more will follow suit.

[[As]]

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.

In future government will suport bitcoin...

[jaysabi]

Limited supply and security aside, the public ledger could do wonders for government spending transparency. Can you imagine if you could build a dapp for US expenditure? It would tear down misconceptions about spending and people might be able to see where the money actually goes.

Which is why this will never happen. The government already publishes expenditures on what is publicly disclosable. Defense and other classified spending is not disclosed for obvious reasons. Crypto wouldn't do anything to increase public transparency beyond what is already transparent, and it's not a suitable currency because it can't keep a stable value, so crypto really represents all the worst use cases for a government.

[shaheer001]

Now every Govt is trying to legalize bitcoin as Bitcoin has become now strong economical power through its huge community so hope soon Bitcoin will rule the stock exchange too.

[netil]

Most governments do not yet want to adapt. They are concerned about the absence of regulation on crypto markets and of course anonymity.

[fearcoka]

I think bitcoin, like all other things internet will surpass any government, try to kill it off and it will emerge somewhere else. The people will get what they want and need if it is available, no government or laws can supress it. Building a super firewall, people will break holes and find their ways around it. Spy on your citizens? Enter Tor browsers and more secure communications. Try to ban or overpower bitcoin? Who knows what we will come up with, but it will never be the way the governments have intended. We never surrender or break at the will of those who do us wrong!

That may be true and a possible case to happen; however, I think that instead of killing it off, most governments would try to assimilate the cryptocurrency market in their local trade and investment systems to be able to seize the opportunity of gaining profit from it. It's not that easy to find revenue nowadays because taxes can't be raised too much. Therefore, having a potential-filled venture like cryptocurrencies can help governments improve their economies. It has happened to those that have already adapted it, and most likely, more and more will follow suit.

Ban cryptocurrency isn't a good choice to improve the country's economy. I'm really don't understand the decision of Chinese government. Why a huge country like China decide to ban crypto exchange? Even, mining farms are also the subjects of that ban. While, some countries are trying to concentrate more mining farms to raise the hashrate in their country.

[Semosuchi Tesongrato]

What a lot of people seem to not understand is that - by its own philosophy - bitcoin is against banks and governments, because - if it will succeed - it will make them to become obsolete.
The main reason for the existence of a country it exactly the authority about money.
Without this power, a government becomes meaningless.

[Dragon5]

What a lot of people seem to not understand is that - by its own philosophy - bitcoin is against banks and governments, because - if it will succeed - it will make them to become obsolete.
The main reason for the existence of a country it exactly the authority about money.
Without this power, a government becomes meaningless.

That's true, as Bitcoin is meant to make people independent from any financial institutions. Still, Switzerland's government, for instance, offers practical benefits for cryptocurrency-enterpreneurs and the federal government takes a light approach to regulation in general. That fact illustrates that governments can also be involved

[Lorin]

Government already  know about bitcoin but still  there are some used to ban it maybe because it will affect  some of their regulations  and their banks  when it comes to it. Yet bitcoin had a  characteristics that will give enough income for  everyone still the government did not adapt it.
Maybe in the future  when bitcoin  legalize by the government the percentage of unemployed  will decreased.

[Chint_82]

technological progress is so rapidly, the fact is indeed we can never lebas the name of technology, hopefully with this technology so rapidly, the government also tries to learn and make it as a basis in economic development in all walks of life in society, the hope of the community for the moment this is an enormous job creation to cope with unemployment

[gilabusuk1]

Government already  know about bitcoin but still  there are some used to ban it maybe because it will affect  some of their regulations  and their banks  when it comes to it. Yet bitcoin had a  characteristics that will give enough income for  everyone still the government did not adapt it.
Maybe in the future  when bitcoin  legalize by the government the percentage of unemployed  will decreased.

it could happen, bitcoin is getting used by many people also the better so many people will feel the benefits then the price of bitcoin or altcoin also getting better

[esa2782]

i think governments should adapt and embrace every progress and changes that happen in society instead of try hard to oppose it, bitcoin and others crypto are proved to be working as a tool of exchange, so it should widening the options of doing business transaction and others, and the government should play an important rules by using its resources to make sure that bitcoin is trusted and safe for everybody, that will be a win win solution.

[Raidal]

It is true. Technology that does not want to run constant, the impact is natural selection and will bulldoze anyone who does not want to move dynamically to keep up with the times. the government should move quickly to find a solution so that bitcoin can be used in the community and not harm the government

[mbluxs]

It is true. Technology that does not want to run constant, the impact is natural selection and will bulldoze anyone who does not want to move dynamically to keep up with the times. the government should move quickly to find a solution so that bitcoin can be used in the community and not harm the government

in fact many countries are interested but they are currently studying it. the proof is my own country says there is a discussion of cryptocurrency,maybe this year there will be questions about the state and bitcoin

[fiulpro]

It is true. Technology that does not want to run constant, the impact is natural selection and will bulldoze anyone who does not want to move dynamically to keep up with the times. the government should move quickly to find a solution so that bitcoin can be used in the community and not harm the government

in fact many countries are interested but they are currently studying it. the proof is my own country says there is a discussion of cryptocurrency,maybe this year there will be questions about the state and bitcoin

Yes thats true. The government of most of the countries are alteady seeing the future benefits of having implemented bitcoins in a larger way. They have realised the revenue potential that bitcoins hold for their countries.

This will soon be seen where most of the leading countries will not just legalize bitcoims completely, but will also most probably tax it to gain some revenue. This will increase further the value of bitcoins and the trust will rise invariably.

Such a move will also boost the economy because by this allowance of government to use and trade in bitcoins will bring in many folds more users who till that extent thought of bitcoin to be unsafe because now they have government involved in it.

[UzumakiSakuragi]

I believe that the government is doing their part in  finding a  way to coup up  with the newest technology .but the problem is on us.some people are hesitant to come out from their traditional comport zone..

[Noelbetty12]

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

I think the same, the probability of the government getting to watch in the middle of all bitcoin transactions could happen. They have something to protect as well. Like those fears that bitcoin will be used for illegal transactions and other things which the government cannot benefit. Each government in each economy surely is watching over bitcoins and studying the effects of a huge amount of money transfers to other countries. This will surely have an effect. Once the economy concerned is failing all of the entire country will be failing as well. So they must have to protect it. And that is why the probability of getting in the middle is really big.

[mstfprcn]

None of the governments will adopt bitcoin. If Governments adopt bitcoin surely they will take control of the technology and make them according to their requirement. Being a open source without flaws is the top feature of bitcoins technology.