How to make governments accept bitcoin?

[Bit2Easy]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

[mobnepal]

What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the biggest hurdle for bitcoin to get accepted by governments/banks because they can't implement taxation as well as they can't track source of bitcoin. However anonymity is also the main feature due to which many users love to store in bitcoin and use it whenever they like.

Governments/banks may never accept direct bitcoin payments, but they may implement strict rules/regulation and high fees on local bitcoin trading platform. And as recent coinbase and PBOC investigation have shown that governments are now looking to get detail about every bitcoin traders who are actively trading bitcoin so that they can put tax on their earnings as well as limit money laundering.

[HarringtonStark]

No they will not accept Bitcoins but companies will.

US dollars and other fiat currencies will become digital in the future when paper money becomes toilet paper. Just like Bitcoins, digital fiat currencies will be used in the future.

[Henkkaa]

What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the biggest hurdle for bitcoin to get accepted by governments/banks because they can't implement taxation as well as they can't track source of bitcoin. However anonymity is also the main feature due to which many users love to store in bitcoin and use it whenever they like.

Governments/banks may never accept direct bitcoin payments, but they may implement strict rules/regulation and high fees on local bitcoin trading platform. And as recent coinbase and PBOC investigation have shown that governments are now looking to get detail about every bitcoin traders who are actively trading bitcoin so that they can put tax on their earnings as well as limit money laundering.

I think this is a very good point, but also being the fact that governments can't control bitcoin. Bitcoin network is out of their reach. They cant freeze funds, ban accounts. Doing something that would allow government to track funds and handle taxation, would pretty much destroy bitcoin, since it woulf defeat it's purpose as a decentralized and anonymous currency, what I consider perfect currency. Simply because it stops government from controlling everything and spying on anyone they want, make it better than fiat in the eyes of many users.

[n0ne]

Governments won't easily allow bitcoin to be the currency to be used in the country. Other than anonymity the biggest hurdles is that governments can't give the users the assurance of trust similar to the local fiat. Because currency was printed based upon a value placed in relation to commodity. Bitcoin just move depending upon the technology.

[savioroshan]

Its not that easy to make governments accept bitcoin and other crypocurrencies. In my option Bitcoin and other cryptocurrencies will never be accepted officially by any governments because its anonymous. And thing is if accepted by the government instead of doing good, it will collapse the whole economy of the country. The reason is simple. If everyone starts using bitcoin , government wont be able to track the transactions. That means government wont get any revenue through income tax. If government doesnt get revenue, the whole economy of the country will shake.Rich will become more richer and poor will become poorer because governments wont be having funds for giving subsidies.

[paul gatt]

this really is a difficult question
Bitcoin has great influence on the economy of a country, so if the government wants to accept Bitcoin, the Bitcoin to bring profits to the government and must be managed.
However, the government difficult, it was hard to be managed

[LegendaryMiner]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

I think this will depend on users, because there will always be governments that will see Bitcoin as a threat. Some governments are more moderate on this issue, but there will always be governments that will create restrictions for Bitcoin.

The reason is in the fact that Bitcoin is decentralized and has a limited emission rate, causing the currency not to inflate wildly with the passage of time. This solves precisely the problem we can see in all fiat currencies, because governments have the power to print money at whatever rate they want, increasing their influence on the economy, and making people have an increasingly devalued currency.

[jeraldskie11]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Because of the study of the governments officials, they know that  they can gain taxes like (VAT) value added tax even they can't gain taxes in transactions.
We don't know if the governments accept bitcoin and its hard to convince them. Because some people using bitcoin for criminal transactions because of its anonimity and that is the main reason.

[nicolecan13]

We should have a good approach to the government officials and a strong connections through these kind of digital currency advantages to peoples lives, and in order to convince them in accepting this currency this must be having pilot evaluations and monitoring of bitcoin usage to the people in the whole world. With these situation it must have a firm understanding between government and investors of fiat and digital crypto currency for this kind of transition.

[loreykyutt05]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Bitcoin is not a threat in the government ,  actually bitcoin is good in the economy because it enters dollar in a country which is beneficial for the economy of a country Just like OFW does ! Anonimity is not a problem because if you want to convert your bitcoin to cash then there must be a 3rd party ! that 3rd party will be the one who will reveal you identity that makes you recognize ! Overall In every threat we think there is a solution to that It is just up on the government whether they will adapt bitcoin or not !

[bitbunnny]

Some governments have the positive attitude towards Bitcoin some would like to ban it. I think that main reasons for that are the facts that governments don't like Bitcoin anonimity, they would like to have some control over users. Also it's beeing beleived that Bitcoin is mainly used for illegal activities and also for black economy and avoiding taxes. As soon as governments realise they will have profit and use of Bitcoin addoption they would accept it.

[babsalt1975]

I believe there is nothing impossible on this planet. If bitcoin was created by a human being, then the possibility of making it acceptable is there. Right now, Bitcoin transactions can be anonymous but if governments come together, there are ways that can be done to make them traceable. Technology is ever changing and I don't find it difficult to device ways in which it can be traced. Issues of taxation will be easy in this matter

[X-ray]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity, transparency, decentralized. These are all of the things has been hated by the government. We can't do anything, the government has interested with the blockchain system and nothing for bitcoin.

[Blitzboy]

This would be a tricky task to gain the governments' favour in bitcoin and the blockchain technology. From where I stand, I suppose that the unpredictable nature of bitcoin and its untraceability in transactions is the reason that stops the governments from bringing it into their system. Moreover, I think that bitcoin somehow doesn't fit in the usual bank system so that still keeps bitcoin down.

[doaremon]

There is no chance to make government accept. In many countries government banned bitcoin let alone accepting. Yes we can pay to companies by bitcoin. This can change the situation slowly. And slowly government might adopt this idea of virtual exchange. But I don't see this chance soon. And as it's another level of exchange idea this definitely gonna take much to be adopted in general and the authorities. But we can hope for a more better future of bitcoin.

[acroman08]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the least of their concern, what bother's them is the possible damages it can cause to an economy
bitcoin is continuously gaining popularity if people prefer using bitcoin over their own currency it will affect their
economy badly.

I have already explained it a few times

Even if Bitcoin was not in fact conceived by some secret service or agency, it can still be used as a financial weapon by powerful governments (like the US) against unstable governments (like that of Venezuela). It is like spreading a lethal virus which only you have a vaccine against or are immune to. Bitcoin is not dangerous to stronger currencies like the US dollar but it can be deadly to weaker ones. It is like foreign currencies substituting the collapsing local one, but it is more dangerous since the failing government can still control the spread of a foreign currency inside the country through banks (by limiting or prohibiting non-cash transactions with it). This doesn't work with Bitcoin since it is not just a currency but also a payment system in its own right and which defies government control



In cyberspace no one can hear you scream

[Zadicar]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

This thing would really be hard and it would take time or dont happen at all that government would able to accept bitcoin.The one thing that government dont really like about bitcoin because its decentralized and cant be controlled and government couldnt make or impose taxes on it thats why they dont like it.

[Gembul]

I think it will be very difficult dude because we know the government thinks bitcoin was not very profitable for them instead be new problems if bitcoin used to land the corruption of the corrupt bureaucrats. Not to mention such recent debate going on regarding bitcoin facilitate money laundering. I think it makes the government has not taken steps to adopt the bitcoin. Thank you

[dhampir-D]

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

The only thing I see that can make governments take decisions in favor of Bitcoin is the transparency in using blockchain. There is also the fact that this makes people's lives better, but history has shown that, in general, governments choose ways that, even ineffective, allow them to have greater control over society. That being said, I think governments would prefer to create their own Blockchain instead of accepting Bitcoin as their local currency.