How to make governments accept bitcoin?

[staff_1307]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

[stompix]

to me i think by only putting pressure on government can make government to legalize bitcoin. but still i thin bitcoin are still iit will take such a long long time because the users of bitcoin are still very low to put pressure on government, therefore to me i think it will take such a long time to make government to accept bitcoin as legal currency/

You can put all the pressure to the government but they will only do what they think is going to improve their nation's situation. Hundreds of thousands of people live in the streets, millions don't eat 3 times a day, billions of kids suffer from malnutrition. Those stuffs alone has put much pressure to the government but are these problems ever going to be solved? They have done stuffs to do so but until now, it's still the problem of most countries.

Even just slow and overpriced Internet connection can't be solved in most third world countries. Legalizing bitcoin as a currency is a broad thing and they barely have the time to focus on such thing.

Hundreds of thousands of people live in the streets, -  in some countries not in mine
millions don't eat 3 times a day,  - in some countries not in mine
billions of kids suffer from malnutrition.- in some countries not in mine
slow and overpriced Internet connection - in some countries not in mine

So if the governments in some countries have fixed this and in others not it might be a problem with the ones that people are electing. Who's fault would that be?

And now, going even deeper in this, for some countries in this world bitcoin is not a solution right now , and going from fiat to crypto in a short time might have the opposite results.
I do hope that if a government would turn to bitcoin it won't be in a deeply flawed country.
Because this is one thing we don't want. A failed experiment going terribly wrong.

[OrangeII]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

We do not know the future, because bitcoin is a very sophisticated technology. Maybe the government does not accept it for now, but we do not know what will happen in the future. Because it could be bitcoin able to save a country's economy.

[pinkpanther03]

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.

But for what the government want it to bitcoin is not going to be happen because of decentralization it has, and we all knew about this things of course. So the government haven't get any benefits from it, unless the government adopt the system of bitcoin, but its not also going to be happen because they are base centralized like what the other private sectors did.

[Ravion]

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that for any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population).  

[MingLee]

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population). 

Actually, it's more common for a bank to lend its own money (from deposits) out in a way larger amount than what they have. Very, very little of the currency in circulation is actually created by a government's central bank (at least in the United States) and a majority comes from banks loaning it out over and over again. You're able to turn $100 into $1000s of dollars through this system, and it's one of the largest factors when it comes to inflation.
$100->$100+$90->$100+$90+$89, etc. That's if the bank doesn't end up loaning it out or getting the same amount of money back multiple times.

[Nathan047]

A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

[Mike Mayor]

It feels like paying taxes with bitcoin defeats it's entire purpose. Who really cares what the government think ? It has nothing to do with how you choose to use your money and in what form ?

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population). 

Actually, it's more common for a bank to lend its own money (from deposits) out in a way larger amount than what they have. Very, very little of the currency in circulation is actually created by a government's central bank (at least in the United States) and a majority comes from banks loaning it out over and over again. You're able to turn $100 into $1000s of dollars through this system, and it's one of the largest factors when it comes to inflation.
$100->$100+$90->$100+$90+$89, etc. That's if the bank doesn't end up loaning it out or getting the same amount of money back multiple times.

I see what you saying and it is right the banks use your money in them to loan to others but you not going to mark $100 $1000 that is just nonesense.

[whizter]

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.

But for what the government want it to bitcoin is not going to be happen because of decentralization it has, and we all knew about this things of course. So the government haven't get any benefits from it, unless the government adopt the system of bitcoin, but its not also going to be happen because they are base centralized like what the other private sectors did.

yes no doubt that there are some hurdle for the governments to accept bitcoin as legal currency, i think it will take some more time untll the users of bitcoin increase more and more and then government will start thinking about to accept bitcon as legal currency and the put different taxes on it, but i think for such thing to be happen i think there is still some time lefting for that.

[batang_bitcoin]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

If you are aware with the news today, you will return your words and change that "never" because there are countries right now that are showing their interest to bitcoin and they are now already starting to use and adopt bitcoin. I think other governments, countries will just adopt bitcoin automatically when they saw those countries showing positive result.

[iqlimasyadiqa]

A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

The government just kept quiet at this time. They have not taken action to make bitcoin better. Government should provide support for bitcoin development. Today japan and russia became one of the countries that have appreciated the use of bitcoin in the country.

[sobsitesearch]

A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

The government just kept quiet at this time. They have not taken action to make bitcoin better. Government should provide support for bitcoin development. Today japan and russia became one of the countries that have appreciated the use of bitcoin in the country.

For me i want bitcoin what it is, because if government start to enter in bitcoin or adopt bitcoin taxed will imposed and the value will start falling down because government will control it even the value in the market is high they will control the income of each users.

[ipungadhi]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

[rikybrosh]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

Probably Government will create their own coin that can be more supervised than paper money. I hope there is a way to makes bitcoin being legall in all country even bitcoin must lost it anonimity

[mrcash02]

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

Probably Government will create their own coin that can be more supervised than paper money. I hope there is a way to makes bitcoin being legall in all country even bitcoin must lost it anonimity

It would be nice if we have the option to use the government Crypto Currency and Bitcoins. The only thing I don't agree is if the government forbid Bitcoin and another decentralized currencies to make people use only their official currency.

Bitcoin doesn't need to be officially legal, things only should continue to be as it's now, no regulamentations, no government words about Bitcoins. Who isn't doing anything illegal with BTC has nothing to worry about.

[Baby Dragon]

Bitcoin cannot be accepted by the government i think but still many companies will accept bitcoin because of the opportunity it give because of the all most billion user's that is using it it can give companies a lot of money but government cannot control the bitcoin even no one can hack it.

[DoublerHunter]

Bitcoin cannot be accepted by the government i think but still many companies will accept bitcoin because of the opportunity it give because of the all most billion user's that is using it it can give companies a lot of money but government cannot control the bitcoin even no one can hack it.

If government can't accept bitcoin then how can you explain what does the Japan did to bitcoin, they already accepted bitcoin to their country and they are already spreading the use of bitcoins by accepting it to the stores there. Government just need some knowledge about bitcoin to be able to be accepted by them.

[SoulBargain]

Bitcoin cannot be accepted by the government i think but still many companies will accept bitcoin because of the opportunity it give because of the all most billion user's that is using it it can give companies a lot of money but government cannot control the bitcoin even no one can hack it.

If government can't accept bitcoin then how can you explain what does the Japan did to bitcoin, they already accepted bitcoin to their country and they are already spreading the use of bitcoins by accepting it to the stores there. Government just need some knowledge about bitcoin to be able to be accepted by them.

In addition, government should start to be more open-minded with this new things in order to see the benefits it brought which can be of great asset in the evolution of their economical growth. Let's view this with clear judgement and weigh the advantages and disadvantages which by doing so we will see what truly is Bitcoin.

[molsewid]

They already known about the bitcoin and i know theres only one reason why and how to make them accept bitcoin for good one reason is bitcoin can help those jobless person to work with bitcoin secondly is they can use this as remittance where it is easy to send money anywhere from the world third when you are living on hour country we can easily withdraw our bitcoins into fiat with in 5 minutes via bank.

[White Christmas]

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 in my understanding it can be accepted by the government if it will pass the iso or any government a credited department that will provide license, business permit to such any online which is related to any business that concerns money.