Roman Abraham
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Activity: 116
Merit: 100
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September 29, 2017, 09:37:34 AM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
I think the government can actually take advantage of bitcoin. if bitcoin in a country is legalized it will invite foreign investors to come and invest their money into the country in bitcoin form, if this happens it will have an impact on the growth of the country's economy. |
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Whoever mines the block which ends up containing your transaction will get its fee.
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matuson
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September 29, 2017, 10:22:04 AM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
I think the government can actually take advantage of bitcoin. if bitcoin in a country is legalized it will invite foreign investors to come and invest their money into the country in bitcoin form, if this happens it will have an impact on the growth of the country's economy. You are wrong. Bitcoin users are not investors. There are a small number of investments made by citizens of countries that exchange bitcoin to local currency. It can be considered an investment but they are too small to participate in the statistics. In General, the government is the enemy of bitcoin. |
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christian07
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September 29, 2017, 10:51:37 AM |
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I think because its so conveniece that bitcoin brings and here we dont have any problem if we save our money like other bank,the only problem here is the volatile price of bitcoin but base in the past 6 years of bitcoin i think the price is no more problem even its volatile
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senne
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September 29, 2017, 11:03:03 AM |
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Sorry, But bitcoin has been stopped and banned in many countries which include Bolivia, Ecuador, Kyrgyzstan, and Bangladesh till now. But if we compare this with the countries where Bitcoin is illegal, that is way much more than it. Moreover, in the recent times ICO may be banned in the countries like China and South Korea but Bitcoin is still ruling because as for the government also realize its potential and knows that it can also help in the improvement of their country in some way or other.
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coin_1122
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September 29, 2017, 01:39:41 PM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
I think the government can actually take advantage of bitcoin. if bitcoin in a country is legalized it will invite foreign investors to come and invest their money into the country in bitcoin form, if this happens it will have an impact on the growth of the country's economy. Many countries don't have this confidence and they are not making Bitcoin as the legal currency. Some countries understand the value of Bitcoin and their Economic growth that's why they are legalizing the Bitcoin in their country. |
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Burks
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September 29, 2017, 08:51:27 PM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
I think the government can actually take advantage of bitcoin. if bitcoin in a country is legalized it will invite foreign investors to come and invest their money into the country in bitcoin form, if this happens it will have an impact on the growth of the country's economy. Many countries don't have this confidence and they are not making Bitcoin as the legal currency. Some countries understand the value of Bitcoin and their Economic growth that's why they are legalizing the Bitcoin in their country. As you mentioned the bitcoin will gonna play some potential role in economy in the future days.Many countries already started to know about the bitcoin so they are legalizing bitcoin in their country.Ofcourse the bitcoin promotes the foreign investors to investon their country which yields profits for the country also.so the countries doesn'ttake any action on the bitcoin. |
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Zackgeno96
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September 30, 2017, 06:06:06 PM |
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No government can stop the bitcoins as it is a decentralized currency and no one can control or monitor it. In case, if the government tried to monitor the bitcoins then also it will be very difficult for them to successfully implement the related law.
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dylanc
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October 01, 2017, 07:41:03 AM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
I'm sure the governments of these countries have done a good amount of research into bitcoin. Thing is, it is hard to outlaw and maybe counter-productive doing so? |
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olushakes
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October 01, 2017, 09:02:05 AM |
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Government not being able stop bitcoin at this time is really not their wish and its because they must have tried several means necessary with all the facilities and technology available to them especially the world powers that they now have no other option to accept their fate which is resorting to regulation. Until the future when they can now develop a computer that can break the code of the blockchain, I guess we still have tonlive with the regulation.
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Irvinn
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October 03, 2017, 07:55:04 PM |
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The governments of some states have repeatedly expressed their intention to prohibit the circulation of crypto currency in their country. The last time it tried to make China inoculate. However, as far as I know, no state has yet introduced a complete ban on the circulation of the crypto currency. It seems that the state is unable to do this, because if such a decision is adopted, the state bodies will not be able to control it. Citizens of this country will be able to circumvent such a ban and its effectiveness will be low. Maybe that's why no state has ever been able to ban crypto currency.
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Kingofbitcoin12345
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October 04, 2017, 07:22:52 AM |
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No government can stop the bitcoins as it is a decentralized currency and no one can control or monitor it. In case, if the government tried to monitor the bitcoins then also it will be very difficult for them to successfully implement the related law.
A hundred percent agree to that.. It is not that the government has no law or whatever,, it is logically because they can’t stop it literally.. Only if the only option they can is stop internet.. So is it possible absolutely,, No.. It is suicifal to do because the people using it will not be silence and might to a much dangerous situation like war.. |
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Nameless27
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October 04, 2017, 07:44:12 AM |
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The government is bond by the voice of the people if the citizens of that country opposed the stand of the government they will be followed. They can't stopped the one they can't controlle in the first place. Hackers and bitcoin has something in common the used of internet. Government been tracing hackers but failed when in fact there just few people. And bitcoin users are millions of determined people who just want to earned and that's the difference.
In any case, more to the point, what is the purpose behind these endeavors to dishearten utilize? Are the reasons and objectives handy and honest to goodness? Does Bitcoin show a risk to power, control of the household cash supply, acquiring, expansion, remote trade or guardian organizations? Truly and No… Governments can boycott Bitcoin, however the boycott can't be extremely viable. In this way, normally, they utilize different intends to debilitate Bitcoin proprietorship and exchanging. Bit by bit, administrators in a few nations are starting to see Bitcoin as a greater amount of an open door than a risk. There might be no compelling reason to discourage natives from embracing Bitcoin, regardless of the possibility that the masses spares or spends it as real put away esteem money and not similarly as an installment instrument. The fact of the matter is, it is not the government itself who is threatened by the existence of bitcoin. It is the financial institution like banks, remittances centers and even more. It is the mandate of the government the stability of that institution that’s why they’re also affected by it. Think of it as it is. If all bank holders will withdraw all they’re saving for bitcoin, what will happen to that bank itself and to one countries economy. I don’t say it will happen but bankers are giving those signs right now. But Sooner or later, they can’t do about it but to eventually be part of it. |
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Nameless27
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October 04, 2017, 08:36:12 AM |
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The government is bond by the voice of the people if the citizens of that country opposed the stand of the government they will be followed. They can't stopped the one they can't controlle in the first place. Hackers and bitcoin has something in common the used of internet. Government been tracing hackers but failed when in fact there just few people. And bitcoin users are millions of determined people who just want to earned and that's the difference.
Agreed with you, bitcoin is not only popular among the common people but also people like bill gates has seen tremendous potential in the bitcoins. Government can not ignore the fact and they also can not ignore the extraordinary journey of the bitcoins since its initial days. I have heard about that. Bill gates comment about bitcoin is not shocking at all but still it’s amazing to hear it straight from his mouth. Bill is a techy guy who have changed the world with computers and it is so co related with bitcoin because it is partly what we used here. I mean bitcoin at this range may contribute also to bill gates profit even without investing to it. But I’m sure his into this kind of investment after all its profitable in nature. |
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Lampaster
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October 04, 2017, 08:46:08 AM |
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The government is bond by the voice of the people if the citizens of that country opposed the stand of the government they will be followed. They can't stopped the one they can't controlle in the first place. Hackers and bitcoin has something in common the used of internet. Government been tracing hackers but failed when in fact there just few people. And bitcoin users are millions of determined people who just want to earned and that's the difference.
In any case, more to the point, what is the purpose behind these endeavors to dishearten utilize? Are the reasons and objectives handy and honest to goodness? Does Bitcoin show a risk to power, control of the household cash supply, acquiring, expansion, remote trade or guardian organizations? Truly and No… Governments can boycott Bitcoin, however the boycott can't be extremely viable. In this way, normally, they utilize different intends to debilitate Bitcoin proprietorship and exchanging. Bit by bit, administrators in a few nations are starting to see Bitcoin as a greater amount of an open door than a risk. There might be no compelling reason to discourage natives from embracing Bitcoin, regardless of the possibility that the masses spares or spends it as real put away esteem money and not similarly as an installment instrument. The fact of the matter is, it is not the government itself who is threatened by the existence of bitcoin. It is the financial institution like banks, remittances centers and even more. It is the mandate of the government the stability of that institution that’s why they’re also affected by it. Think of it as it is. If all bank holders will withdraw all they’re saving for bitcoin, what will happen to that bank itself and to one countries economy. I don’t say it will happen but bankers are giving those signs right now. But Sooner or later, they can’t do about it but to eventually be part of it. Bankers will never be able to be a part of bitcoin. All the ways in which banks earn money may not be applicable with bitcoin. Why would I keep money in the Bank if bitcoin brings in more money? On the other hand if the banks will give loans in bitcoin then no they will not take. |
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Sylenth
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October 04, 2017, 10:03:45 AM |
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1.Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down theses internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions
2.secondly,if government try to ban , it will make it more popularize among those ones too who are not known of it,making individuals to explore it and finding new ways to grab something out of it
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Kronos21
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October 04, 2017, 11:38:24 AM |
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1.Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down theses internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions
2.secondly,if government try to ban , it will make it more popularize among those ones too who are not known of it,making individuals to explore it and finding new ways to grab something out of it
There is only one flaw in your arguments. This is something that we cannot buy goods with bitcoin. Each of us is forced periodically to exchange bitcoins for Fiat. The government has no problems to strengthen the control over the movement of Fiat and bitcoin will lose its relevance. |
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Philip Graham
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October 04, 2017, 03:28:04 PM |
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Bitcoin isn't controlled by government. It works independent
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nazzzzz
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Activity: 75
Merit: 10
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October 05, 2017, 08:49:30 AM |
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At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
all countries can’t move as union so you find any countries have special rules so that they can’t stopped bitcoin only can effect on price or stop legal exchange |
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Falgorn
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October 05, 2017, 04:01:45 PM |
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No government has so far been able to prohibit the circulation of bitcoins and other crypto currency in their country, apparently because there is no real mechanism to control such a ban. Citizens will vseravno use the Internet and deal with crypto currency. Most likely this is what stops governments from making decisions about the ban. Now we will see how this matter is finally solved in China and then the situation will clear up.
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Hyperme.sh
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Activity: 98
Merit: 10
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October 05, 2017, 04:41:14 PM
Last edit: October 06, 2017, 06:14:10 AM by Hyperme.sh |
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Simply, Bitcoin is currently a decentralized open-source voluntary p2p network.
Each of the above terms prevents specific legal actions from occurring to the network.
[…]
Excellent post! Indeed. However, please note Bitcoin was created for a specific purpose by a specific entity[1], and some additional evidence of that is that recent research has shown that Bitcoin must become 51% centralized (in terms of control) because as transaction fees become greater than protocol block reward, the incentive to converge on a consensus is lost. And no, the Byzcoin research doesn’t ameliorate (solve) this problem. Also Satoshi put double-hashing every where except on the PoW, thus enabling AsicBoost intentionally. Everything was exquisitely premeditated and planned out for the move towards Nash’s Ideal Money but with a twist where that currency becomes entirely centralized on a hill in Israel (per biblical Revelation). Enjoy. Im fairly certain nash instrumented btc.
No he was just the excuse. [1] to bring about the world government by destroying the exclusive jurisdiction of the nation-states over money per John Nash’s Ideal Money concept but with a twist where they designed it purposely to become entirely centralized in their control |
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