Are Governments Beginning to Accept the Undeniable Future of Digital Currency?

[theRattler]

Check out this positive little article -

Link to article: https://www.reddit.com/r/ClubcoinCo/comments/49caio/governments_are_beginning_to_accept_the/

Real change in government opinion or not? Also despite, in most cases, the acceptance being a move based on greed and not for the benefit of people, how much will this help take power way from a central authority? Will digital currency just be come heavily regulated and inevitably centralised?

What stops this happening? Does anything?

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[Lauda]

I dont thinl bitcoin will be regulated because bitcoin can't be traced,just use tor or proxies and you can easily avoid the regulation,from my opinion government thinks bitcoin just like a paypal and its wrong

This isn't true. Bitcoin is both regulated (already to some extent) and traceable. Surely you can try to avoid 'detection', but to do this you have to avoid using a lot of services (that need/hold any personal information). Bitcoin is pseudo-anonymous. However, I do agree that it is likely that their understanding is flawed.

[SFR10]

Nice article there. I think it could be in the category of real change this time. We all know that government (all over the world) at first took somehow a step back to study and see the consequences of digital currency and that's why in some places there was bold moves against in and in some others, there wasn't any action. What they usually after is, to tweak it a bit and use it for their own benefit. Most likely the end result is regulated and centralized (though not heavily).

[avikz]

Good and positive article. Still I am skeptical about the acceptance of virtual currency in INDIA because, the main aim of the government is to control power. The more money pwople will have, the more powerful they will be. The purchasing power parity will also increase which will in turn increase the cash flow in the economy.

I am really hoping that govt. will someday have to accept it but I'm worrying that they will impose heavy taxes on it. If the anonymity of bitcoin is gone, then half the fun is over. Lets see.

[DimensionZ]

I don't think half of the fun of using Bitcoin is gone if the anonimity is gone unless you are accustomed to shady underground deals. You need to account for the money you transfer from Bitcoin into the real world otherwise people will think you are dealing in questionable funds. Also you can have $1 million in the bank and the government can't steal it right? And you can be saving hundreds of thousands of dollars in Bitcoin but when you decide to buy something physical like a new house, you need to provide the origin of this cash.

[Kprawn]

You saw this shift in the last year or so, and the only explanation for this imo is that banks has some influence on governments and they {banks} are exploring their own "Blockchain" technologies. If

Bitcoin is banned, they will also have to ban the "private" Blockchains, and here in lies the answer. The banks already spend millions into funding these development projects and will spend even more to

get the governments to allow and support their "private" ledgers. They will eventually ban all "public" Blockchains to favor the banks.

[Betwrong]

Check out this positive little article -

Link to article: https://www.reddit.com/r/ClubcoinCo/comments/49caio/governments_are_beginning_to_accept_the/

Real change in government opinion or not? Also despite, in most cases, the acceptance being a move based on greed and not for the benefit of people, how much will this help take power way from a central authority? Will digital currency just be come heavily regulated and inevitably centralised?

What stops this happening? Does anything?

The more positive articles about Bitcoin the better. I don't think we should worry about whether Bitcoin is regulated or wether it is traceable. To some extent it is, but basically it depends on the individual who uses it. You can always use additional measures of precaution if you want so, but most of us shouldn't even care about such things.

[Lauda]

We all know that government (all over the world) at first took somehow a step back to study and see the consequences of digital currency and that's why in some places there was bold moves against in and in some others, there wasn't any action. What they usually after is, to tweak it a bit and use it for their own benefit. Most likely the end result is regulated and centralized (though not heavily).

Well, the government is usually working against you (unfortunately); they are trying to control as many aspects of our lives as possible. However, I don't think that they could centralize an already decentralized currency such as Bitcoin. Even if they release their own currencies, it would not be much different from fiat (from this perspective) as it loses an important feature (decentralization). They've already been banning certain cash bills.

Still I am skeptical about the acceptance of virtual currency in INDIA because, the main aim of the government is to control power.

You underestimate the power of greed. They could earn a lot if they get onto the right boat.

[romero121]

Few countries are in deep research whether to adopt digital currency or not. But if some government adopts, Bitcoin will get a control. This will surely make Bitcoin get vanished over the coming years.

[~Bitcoin~]

Quite confused, Don't those payment processor like paypal etc are considered as digital currency? If then if government are willing to accept digital currency doesn't mean they will accept bitcoin. It is hard to trace down which i don't think any government would like to involved into.

[Amph]

it seems that we are already at the "then you win" point for some country, but please do not forget that "government" is not an unique entity there are many out there, and even if some will accept bitcoin many other will not

i think generally speaking many gov, are only finding the best way to regulate it before accepting bitcoin, other will not find this solution and will ban it or declare it illegal

[LFC_Bitcoin]

I think governments & banks fear bitcoin & the lack of control they have over it so we won't see any real mass government/bank bitcoin adoption until a time comes that they really have to.

[QuestionAuthority]

Nicely written but really releases no new information. India isn't embracing Bitcoin or virtual currencies, it simply sees the benefits of blockchain technology. I think I read the article you got that from and India's stance hasn't changed in two years.

As for California and the other obviously progressive places mentioned they really haven't changed either. California is so bankrupt since the dotcom crash it would accept and regulate satans semen as a replacement for water if they thought it could inject new life into the economy. Trust me, I'm from San Francisco.

[unamis76]

Governments aren't accepting Digital Currencies as we know and/or want them. They're just embracing the fact that they can build a private blockchain and run it as they wish

[owm123]

I dont thinl bitcoin will be regulated because bitcoin can't be traced,just use tor or proxies and you can easily avoid the regulation,from my opinion government thinks bitcoin just like a paypal and its wrong

Bitcoin is very much traceable (http://www.bitcoinisnotanonymous.com/). tor will only hide your IP address, not your transactions in the blockchain.

[Wapinter]

I dont thinl bitcoin will be regulated because bitcoin can't be traced,just use tor or proxies and you can easily avoid the regulation,from my opinion government thinks bitcoin just like a paypal and its wrong

If they think it is just like PayPal,why dont they allow it like they have allowed PayPal? I think government consider bitcoin as something that can take away monetary control from their hands.No government would allow that to happen

[sallymeeh27]

I believe so that our government can actually accept this but its just countries would prefer currencies be different for each country for identification and uniqueness. Countries usually would have and maintain their own currency for this is tradition and mark of the country. Government may begin to accept but with limitations maybe..