How to make governments accept bitcoin?

[Ravion]

Governments would not want to accept Bitcoin mainly because of the issue of anonymity. If the majority of people were using Bitcoins, most transactions would be taking place without the government knowing, and they could not tax anyone's income. The government getting involved in Bitcoin in any way would be to collect information about users and 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.

Actually, if the government was not collecting any taxes and spending any money (and the people were spending the money that they earn), that would result in the economy becoming much stronger. The government can create employment but it can't create wealth. The free market is where wealth is created.

[HarryKPeters]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Well, I guess the only sure way for the government to accept bitcoin is to make bitcoin becomes no longer anonymous. but, it really makes bitcoin becomes meaningless, because I feel that it is the advantages of the bitcoin.

There is a use case for bitcoin but i am sure many would step over unto more privacy oriented coins.
I believe for governement to accept or use bitcoin, bitcoin needs less manipulation.

[YuginKadoya]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Well, I guess the only sure way for the government to accept bitcoin is to make bitcoin becomes no longer anonymous. but, it really makes bitcoin becomes meaningless, because I feel that it is the advantages of the bitcoin.

There is a use case for bitcoin but i am sure many would step over unto more privacy oriented coins.
I believe for governement to accept or use bitcoin, bitcoin needs less manipulation.

That is correct, and I think we are used to bitcoin as an uncontrollable system and the government doesn't have a way in manipulating it but if they had a billion bitcoin in their hand then dump it maybe the value would drop, but if that person would think twice that bitcoin can gain him so much what do you think he would do with it, it is just an example if bitcoin would continue to perk to the moon maybe the government would know what is what they are missing and think it over!

[Golftech]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Well, I guess the only sure way for the government to accept bitcoin is to make bitcoin becomes no longer anonymous. but, it really makes bitcoin becomes meaningless, because I feel that it is the advantages of the bitcoin.

There is a use case for bitcoin but i am sure many would step over unto more privacy oriented coins.
I believe for governement to accept or use bitcoin, bitcoin needs less manipulation.

if japan will see the impact of accepting btc from their country and system will be better for sure the government will allow
testing how btc can be useful for their transaction especially with trading goods from other countries its just needed to be
more secure.

[stompix]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

They can easily do so if they really wish for.
They could impose all banks and large chain retailers to use only "verified" addresses.
Basically linking every person to an address or more.

And then you will file taxes from the addresses you own.

And once you're not allowed to use coins from "dark" "unverified" addresses ... the is no purpose to try and hide them.

[Wesimon]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Well, I guess the only sure way for the government to accept bitcoin is to make bitcoin becomes no longer anonymous. but, it really makes bitcoin becomes meaningless, because I feel that it is the advantages of the bitcoin.

Agreed. Bitcoin was known for its anonymity in the first place and removing its major characteristic would ruin bitcoin's identity. Well I think bitcoin will never be bitcoin if it becomes no longer anonymous. Anonymity is its identity and trademark so the government just have to deal with it.

[delliaerd]

Governments would not want to accept Bitcoin mainly because of the issue of anonymity. If the majority of people were using Bitcoins, most transactions would be taking place without the government knowing, and they could not tax anyone's income. The government getting involved in Bitcoin in any way would be to collect information about users and transactions.

Anonymity is one of best features which bitcoin have that favorites by most of the user. But it will something that government can not Compromise, government can not manage bitcoin so that it will not collapse national intern economic intern in the future. That why hard for government to accept bitcoin.

[ekoice]

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.

Governments fear that they would have to face huge loss in tax revenues due to bitcoins.Also,they fear that bitcoins would lead to illegal activities.
Instead of banning bitcoins,governments should take measures to regulate bitcoins like China and Russia

[DoublerHunter]

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.

Governments fear that they would have to face huge loss in tax revenues due to bitcoins.Also,they fear that bitcoins would lead to illegal activities.
Instead of banning bitcoins,governments should take measures to regulate bitcoins like China and Russia

Those problems can be avoided by the government if they just find solution for that, government can establish a good bot or a program for bitcoin to be a monitor for them in the different transaction that is happening inside their country. They can also tax bitcoin because if bitcoin is in their country then bitcoin should obey to government and government can do whatever they want to bitcoin like having tax for bitcoin users.

[just_Alice]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Depends on the government actually. Bitcoin is a good tool for transferring your money wherever you want. If we are talking about a corrupt government then they need bitcoin for themselves and they will do everything they can for its faster acceptance.

[Labumi]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

Well, I guess the only sure way for the government to accept bitcoin is to make bitcoin becomes no longer anonymous. but, it really makes bitcoin becomes meaningless, because I feel that it is the advantages of the bitcoin.

Hmm, I think the bitcoin can get approval (legal) from the Government when the user can indeed pay taxes and can be dikordinasi by the Government. Anonymous is not a problem for the Government, because anonymous is an option so that the Government would not be questioning it. Bitcoin is a better place, and it also does not require the legality of all countries. Because the bitcoin will definitely growing in the future, because the system used bitcoin is helpful and benefit all people
 

[erickkyut]

The only thing we can make so that the government will accepts Bitcoin is we need to unite for it. We need to promote Bitcoin more so that when majority of people all over the world use it, the government will have no choice but to accept it. We nee to share awareness about Bitcoin. Teach our friends, relatives those who are in our community.

[FLoving]

According to my views the government has only one issue with bitcoin and that is it is anonymous currency and they cannot find that who send the money and who receive the money so they have a fear that someone will conduct money laundering with this currency. I hope they will find any slution for that and will adopt bitcoin.

[xypos]

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?

Well, being anonymous by using BTC is one of the biggest reasons why government can't accept it. Without the ability to identify the owner of this certain bitcoin, the government can't file tax for the transactions made by that certain individual. As of this moment, I'm sure that the government is still thinking of ways on how to control BTC and make the best out of it.

I cannot agree with your opinion, I think in different way.
Have you noticed that the capitalization of bitcoin is higher that capitalization of some countries currencies?
That is why government cannot ignore cryptocurrencies subject, which is floating in every country last times.

If bitcoin will get more and more popular than it is right now, governments will have to accept bitcoin, because it will be a threat to a financial system, such as banks or classic payment methods ( digital of course ).

Im sure that bitcoin and other cryptocurrencies will make a revolution, and in my opinion, there is no doubt that every governement will accept bitcoin- after some time, they will have to do this.

[logicgate]

The only thing we can make so that the government will accepts Bitcoin is we need to unite for it. We need to promote Bitcoin more so that when majority of people all over the world use it, the government will have no choice but to accept it. We nee to share awareness about Bitcoin. Teach our friends, relatives those who are in our community.

you are right that we need to do all the possible efforts for the promotion of bitcoin if the investors invest their money in bitcoin so large number people in the country will start using it and if the large stores adopt this currency so i think that bitcoin would be accept by government. we need to compel the government to accept it.

[upsidedown75]

According to my views the government has only one issue with bitcoin and that is it is anonymous currency and they cannot find that who send the money and who receive the money so they have a fear that someone will conduct money laundering with this currency. I hope they will find any slution for that and will adopt bitcoin.

I'm not sure that they will be finding a solution for handling the advantages of bitcoin's anonymity. But anything is possible in future when technological advancements happen.

At the same time I do think government will think about legalizing bitcoin then people are demanding for it. Because government will listen to people's opinion because the problems you have mentioned are nothing new and will not happen only due to bitcoin, they are already happening everywhere in this world.

[Blackdeath]

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.

Yes i agree. If the government will going to have a power to manipulate bitcoin the first thing they would probably do is to build and establish rule and regulation regarding on transaction. And it may lead to a huge dump on a term that the main reason people choose to used bitcoin is because of its taxless transaction. Corruption can be also a effect if government will handle bitcoin because people know that its an internet base that can manipulate easily if you are good on a web especially its developer. So in my side i do not want government on putting action on handling bitcoin. Because bitcoin is better without corruption. But in legal matters it is ok but not leading on manipulation of government.

[Theb]

Well there are 2 ways that I can see that the Government will accept Bitcoin. First if Bitcoin does not show any threat to that Nation's economy than we will see that Bitcoin will be more accepted in that Country. The second one is when Bitcoin is already illegal in that country because of a law than the people have the power to revoke that kind of Law in order to make Bitcoin usage Legal again. But the second way is harder as it has a lot of battles to be won in the court in order to make it happen.

[crairezx20]

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.

Yes i agree. If the government will going to have a power to manipulate bitcoin the first thing they would probably do is to build and establish rule and regulation regarding on transaction. And it may lead to a huge dump on a term that the main reason people choose to used bitcoin is because of its taxless transaction. Corruption can be also a effect if government will handle bitcoin because people know that its an internet base that can manipulate easily if you are good on a web especially its developer. So in my side i do not want government on putting action on handling bitcoin. Because bitcoin is better without corruption. But in legal matters it is ok but not leading on manipulation of government.

I think people who are using bitcoin they don't let bitcoin control by government since we are using bitcoin because of freedome how to use it we can gamble without withdrawing and depositing our money without asking for real identity and where we are getting high amount of money from online..
Unlike you are gamble in some website that needs your identity before you can enter.. and some places are ban gambling..
And yeah about the corruption i dont want government will use bitcoin or accept bitcoin in the future many corruption will happen about taxes or any other ways..

[fuckitall]

You Don't need to worry friend....government will have to adopt the bitcoin today or tomorrow...when you have a currency that is fully decentralised. When you have a future proof currency, a currency that will surely boost up the economy...dump down frauds..and will give a financial system that is fully transparent..and above all when evey person is adopting to it...No choice will be left with the government other than accepting BTC