Bitcoin and governments

[blue_dragon]

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?

This is my point of view. Media and Government are separate to each other. Bitcoin and other cryptocurrency uses one of the type of media which is New Media for us to be access and used it. The Government is too busy for this thing. Our government and our country is facing a problem today about war on drugs that many people are being died and also the civilians and the innocents too.

[Mandoy]

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?

Government does not officialize the use of bitcoin because they do not treat bitcoin as a currency but rather as a form of payment option. They can legalize the use of bitcoin but not as a currency or will replace the fiat currency. There are many complicated conditions that should be considered before implementing a cryptocurrency to be officially adopted in a country and many studies will be done since it could affect the whole economy.

[erickkyut]

There are lots of reasons why the government does not support Bitcoin. First, it is decentralized. No one has a control over it. Second, even the criminals and terrorists can use Bitcoin. The government does not want to encourage it. Lastly, Bitcoin has high risk in using it. The government is still studying if it is beneficial if they will accept it. There are still lots of reasons.

[ocid]

Every country has special rules about its government, the existence of bitcoin in my country can not be inaugurated but its use can not be prohibited. Even the government here has rules on every bitcoin user. Bitcoin made by shatosi nakamoto aims to serve as an alternative transaction tool. With increasingly modern technological advancements in the present era, bitcoin is becoming more popular in my country, but the government will ban bitcoin users if they make payments using bitcoins without switching to existing local currency, since bitcoin in my country is only used as a tool For transactions in the form of barter only.
already many people who benefit from bitcoin because bitcoin can change their economy to be better than before.

[nextgencoin]

"Many countries government have already started the studies for the possibilities of regularizing the bitcoins" This is true some big banks are also studying on Bitcoin and giing lessons to their employees. In a short term they will announce they ar accepting ibtcoing transfers we will see.

[feelmuhtoy]

Bitcoin program can not be stop by the government, the government can join also bitcoin mining just like north korean government do. Bitcoin is unstoppable.

[Fujiati]

I think the government is not willing to legalize the emergency bitcoin, maybe the government is more thorough in making decisions, and maybe someday the government will join in bitcoin.

[stompix]

I wonder sometimes from what part of the world are the majority of the posters around here.

In 3 whole pages nobody has questioned one thing.
It's not the government who is passing down laws.
The government is the executive power , the parliament is the one issuing laws.
And the members of the parliament are the ones you people are electing every 4 years.
So if you're not happy with his past work, why voting for your stupid representative again?

[Linuld]

"Many countries government have already started the studies for the possibilities of regularizing the bitcoins" This is true some big banks are also studying on Bitcoin and giing lessons to their employees. In a short term they will announce they ar accepting ibtcoing transfers we will see.

The banks will support Bitcoin mate, and they will oppose because if the govt accept Bitcoin and make this legalise then, there is no work for banks. And they will not get any revenue. So if the govt accept bitcoins, they may start to oppose that decision. If govt wants to accept bitcoins means BTC need to improve a lot.

[aoihs00]

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 dont think bitcoin will affect the economy of the country because it is limited and there is more money in the world as compared to bitcoin today. Government don't officialise it because may be it is not worth investing into it for big bodies like government. They might be seeing it's limited use in day to day life and that's why they don't want to spend money on it. That's logical becayse government has many more other options which are better than bitcoin. One more reason is bitcoin being decentralised won't be having any control of government or vice versa.

[salihno71]

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?

They have absolutely no control over it. They cannot influence it. Therefore, they don't endorse it nor encourage official usage. If bitcoin becomes predominant method of payment in the future, it will certainly affect the economies in a big way.

[Rj Manik]

To compare between Bitcoin and the government, one thing is to say the government does not like Bitcoin.The government does not want the digital currency people to use.The government does not get huge amount of VAT on digital currency transaction.

[Fredomago]

To compare between Bitcoin and the government, one thing is to say the government does not like Bitcoin.The government does not want the digital currency people to use.The government does not get huge amount of VAT on digital currency transaction.

what if they create a system that will monitor every transactions came from crypto's? its not impossible for the government to do so as we knew that they
are always wants to have more generated tax to each individuals so i think if they find it out that crypto already bringing millions they will start to interfere.

[miningguru]

To compare between Bitcoin and the government, one thing is to say the government does not like Bitcoin.The government does not want the digital currency people to use.The government does not get huge amount of VAT on digital currency transaction.

I think the government needs tax once if people are paying taxes on time then immediately governments will accept Bitcoin as a legal currency. See how Japan and Australia have legalized Bitcoin as a payment method in their country because they don't want to loose on people usage.

[btcdepo]

Governments' most favorite dish is TAX. As far as they won't be having anything from crypto currenct transactions, they won't be willing to support / promote it.

[Al Amin]

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 the government does not legalize crypto because of its unstable price, but it also has decentral crypto where the government can not regulate price, volume, etc.

[andrearz]

I think it's better that the government does not authorize bitcoin in payments in the country because it affects the native currency in any country.it's better if bitcoin is just an alternative payment but does not break the rules.

[Russlenat]

For me I think cryptocurrencies has huge effect and it help economy in the country because it bring more money from outside the country, government should recognized this currencies and make some rules and regulation to have shares of it.

[Pithecanthropus Soloensis]

Bitcoin is the most popular investment for now, everyone hunt and buy bitcoin, marketcap cryptocurrency has raised more than $150 M and I think the governments must accept bitcoin as legal second payment.

[craZyLovE0916]

Bitcoin is the most popular investment for now, everyone hunt and buy bitcoin, marketcap cryptocurrency has raised more than $150 M and I think the governments must accept bitcoin as legal second payment.

Is the market cap really $150,000,000,000?! I remember when we were waiting for it to be just $1,000,000,000 years ago. Oh, how things have changed. hahaha