Bitcoin and governments

[Vaskiy]

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

it is not that easy for government to accept cryptocurrencies anytime soon in official way because the idea of crpto against some regulations made by them , at every country government need to control money resources and weapons which is not possible in our worlds .  

When we think about the national currency each country has got, it has its control under the hands of government. The same is not possible with the bitcoin, even if the government legalized bitcoin. Also in the past several negative as well positive results have been obtained on legalized usage and different governments have different thinking about the bitcoin adoption.

[Yoandy10]

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

[machinek20]

If the government officially adapted bitcoin then there will be a chance that the income tax will be decrease, because all of the transaction is hidden and then if most of the citizen used crypto currencies then the circulation of fiat will be decrease and that can caused inflation, so before government  make a move, the government need a lot of preparation and thinking

[johnwest]

Bitcoin is pseudo anonymous and decentralized which no governments will support as they want to control the money over people. Some country's and governments will think of making their own crypto currencies sooner or later.

[orarider]

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

According to the market trend, governments are intending to accept bitcoin, so I think the bitcoin market will grow strongly in the near future. That's my personal opinion.

[nmaryrai]

Hi well, here i just add a little ...
For me personally I strongly agree, tapai for the government seems to be rejecting Crypto, especially for rich or advanced state government, I am sure For rich or developed countries will feel scared if his wealth will be equal to other countries like other countries, be it Used as emergency crypto or common crypto.
that's just an extra from me 

[dothebeats]

As for the situation that we have here in our country, bitcoin hasn't affected the economy yet seeing how little attention there is for the crypto plus businesses that accepts bitcoin are non-existent as of yet. The government is open into regulating bitcoin as they have already made a statement that they'll support it provided that exchanges comply with KYC and AML regulations.

[SirgulioB]

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

[esatceza]

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

I think it affects the government very much when transactions, the flow of money without taxation, it hurt a large amount of property. In addition, the government can not control Bitcoin as well as its account holders. So they do not let Bitcoin officially operate

[Yoandy10]

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

There are arguably only three crypto currencies - Bitcoin, Bitcoin Cash, and Litecoin. The rest are actually tokens and scamcoins. Anyway, as long as the government regulates it and the laws integrate cryptos, people really won’t be able to create them just at will. I’m sure tokens will be easily created. But regardless, I think it will require some sort of approval process. This is the nature of regulations.

[SirgulioB]

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

There are arguably only three crypto currencies - Bitcoin, Bitcoin Cash, and Litecoin. The rest are actually tokens and scamcoins. Anyway, as long as the government regulates it and the laws integrate cryptos, people really won’t be able to create them just at will. I’m sure tokens will be easily created. But regardless, I think it will require some sort of approval process. This is the nature of regulations.

Honestly I do not see any principle differences between BTC, forks and other altcoins.
And I think that people will be able create their own new cryptocurrency as they wish anyway. This is a matter of trust of a group of people. Which can be very different in size.

[undeadbitcoiner]

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

Quick Answer government can track Bitcoin Transaction I don't know about anywhere else but we do, If IRS suspect any fraudulent transaction and suspicious money laundering type of transaction IRS can track that which is already started, Its not easy but its not hard to find who is actual owner.

[Ewinsane]

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

Quick Answer government can track Bitcoin Transaction I don't know about anywhere else but we do, If IRS suspect any fraudulent transaction and suspicious money laundering type of transaction IRS can track that which is already started, Its not easy but its not hard to find who is actual owner.

No matter how clever or smart a criminal thinks of himself, he is destined to leave a clue behind. Maybe, it's what we call karma. Universe returns one's act back to him. With time and brutal effort, IRS could have discovered ways of tracking. That's why I have always advised people to do the right act so that you don't need to hide from anyone. No fear of getting caught.

[n4poleon]

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

Quick Answer government can track Bitcoin Transaction I don't know about anywhere else but we do, If IRS suspect any fraudulent transaction and suspicious money laundering type of transaction IRS can track that which is already started, Its not easy but its not hard to find who is actual owner.

No matter how clever or smart a criminal thinks of himself, he is destined to leave a clue behind. Maybe, it's what we call karma. Universe returns one's act back to him. With time and brutal effort, IRS could have discovered ways of tracking. That's why I have always advised people to do the right act so that you don't need to hide from anyone. No fear of getting caught.

Ehh, when a person do not intend to be tracked then do not use bitcoin, bitcoin is very transparent when it comes to its transaction. Maybe monero or other privacy projects might do the job.

[Higginbotham]

An important factor that you can not ignore at this point is the pace of progress in the Blockchain ecosystem . Every day, there is a lot of innovation or a new launch with many promises.
Considering the independence of the Blockchain industry , it seems to ignore the support from government agencies so far. At the same time, events in the ecosystem create the idea of ​​a self-sustaining community. This philosophy seems to create a degree of serious concern from the government, so they have no hope of finding any involvement in the system.

[Emmanueltd]

According to Cassidy, the government and banks understand that we are rapidly moving into a digital world, including our money. Bitcoin and Blockchain have become hot topics over the past few years and along with that some pressure to gain a stance.
Cassidy noted that this is a learning process for almost all traditional organizations, so it is normal to predict a position in the next few years as well as in the political arena with changes. government policy.
By the end of 2016, Nigeria's Central Bank Deputy Governor , Adebayo Adelabu , pleaded with the National Electronic Fraud Forum (NEFF) to work harder in an environment where players must learn to swim or sink in waves. new of this new technology. This statement clearly shows that the government has realized the importance of breakthrough technology is here.
Although there are mixed reactions from the governments of different countries around the world, one thing that still fits is the advance of breakthrough technology. It is really moving and it is moving very fast.

[Lillian89]

 countries such as USA, France, Germany, UK, Japan, Canada ... have developed legal framework, policy to manage business activities, use virtual currency. In particular, focus on four issues is the development of regulatory framework for management, issuance of tax policies for investment, trading virtual currency, policies to protect the interests of the owner of virtual currency, Virtual currency translation by private issuers.

[Michael2t]

Bitcoin prices have been moving forward since the beginning of 2017, and governments and the central banks have been more vocal on issues related to this breakthrough technology.
Almost no day has passed without a government statement about Blockchain, Bitcoin or Money. These claims could be to revoke the original ban, issue a new injunction, investigate the rules or apply the technology and some other activities.
Obviously, governments seem to be under pressure to put a stance on Bitcoin and blockbuster, and that may be the main reason that managers keep saying "wrong".

[Cult]

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

Someone has to present the case and write the law to 'officialise crypto-currencies', someone in a legislative position, usually these people have more concerning issues to attend to, but when crypto becomes a huge industry then someone will have to do this, at least for tax clarity.

[Stephencb]

Based on the independence of the Blockchain industry, participants seem to have ignored the lack of support from government agencies. At the same time, events taking place in the ecosystem also open the idea of ​​a self-sufficient, self-sustaining community. This philosophy is likely to lead to government anxiety, and consequently an attempt to find despair of relevance in this system. Governments that are pursuing this quest for relevance are a completely different matter. Looking at the activities of different regulators around the globe, many conflicting claims have been made, sometimes by a particular government briefly, as witnessed in the United Arab Emirates United Arab Republic and Nigeria. These activities clearly show the pressures or demands that governments are facing.