Bitcoin and governments

[gajebo]

I'm not an economist, so I answered according to the knowledge I know.
this is difficult, because the state does not want to lose the bitcoin part or validate the viral money. Why ?
because of the unstable bitcoin properties and changes. this is a consideration of a country. and I think the country has its own currency instead.
that's why bitcoin is less addressed by a country.

[stergium]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

yes that is right to say that it is just the start and very soon. it will become possible that bitcoin become as legal currency throughout the world. i am sure that bitcoin will become as legal currency because a lot of countries are now thinking about to consider bitcoin as legal currency and specially after japan acceptance of bitcoin made the way more clear for other countries.

[Risktaker31]

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?

Because many government wants to know your financial assets and they want to control the money circulating in the community or country. But there's some country approved using bitcoin as digital cash like japan . Japanese people likes innovation so much thats why they approve it and they see the potential of bitcoin. It really depends on what country you are or what your government thinking.

[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?

Yes, it is too detrimental for them. Therefore, they do not accept it because it is not taxed and it is difficult to control it. Besides, they always want their money to grow instead of accepting a different currency

[omonuyak]

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?

Goverments will ever find it very difficult to officialise or adopt cryptocurrency into it financial system because they would never accept what the cannot control or have control over. If governments especially the leaders and politicians including elites of developed countries has there way they could have destroyed bitcoin long time ago because they know bitcoin will bring freedom to people and humanity. Bitcoin and others cryptocurrency is freedom that the elites and politicians will not what you to enjoy and They will ever fight bitcoin.

[bobitza]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

Right, bitcoin is still young, it needs more development. It is bad when bitcoin is considered a forbidden currency in my country. But fortunately this management is not very strict, I can still use it freely.

[Akash1243]

Many countries have even legalised bitcoins even though they can't control it as Bitcoins are decentralised means that control is given to the user or owners of the bitcoin's.One of the things that governments are afraid of are that bitcoins are anonymous means a user can go intractable or detectable in a transaction this can be used for many illegal activities.Many countries as seen bitcoins potential and have legalised it like Japan where bitcoins can be mostly use anywhere i think.So I don't think so that there would be that much of friction between bitcoins and the governments.

[youdacapt]

Many countries have even legalised bitcoins even though they can't control it as Bitcoins are decentralised means that control is given to the user or owners of the bitcoin's.One of the things that governments are afraid of are that bitcoins are anonymous means a user can go intractable or detectable in a transaction this can be used for many illegal activities.Many countries as seen bitcoins potential and have legalised it like Japan where bitcoins can be mostly use anywhere i think.So I don't think so that there would be that much of friction between bitcoins and the governments.

bitcoin can only be applied to developed countries because the transaction tax is clearly regulated in the official law. But they still apply the kyc pattern where users are not always completely anonymous, friction will not mean much to them because it has strong authority to intervene in something, but it will happen in third world countries.

[el kaka22]

The government does not care what you use, the main thing is to monitor your money and get taxes. Bitcoin does not interfere with this on its own.

But many countries have legalized and regularized bitcoin as their currency but they have no control over it. All the control is in the hands of their respective owners. But if they make a specific law for using bitcoin and the governments have the data of all the bitcoin using their local people they will overcome the control soon.

But I don’t think that it is needed that the governments should have control over the bitcoin. People owned then and they have the right to use it as they want.

[Harutooo]

it like second wife 

first wife not love second one but for man both of them hot

[doedz]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

Right, bitcoin is still young, it needs more development. It is bad when bitcoin is considered a forbidden currency in my country. But fortunately this management is not very strict, I can still use it freely.

That bitcoin excess, you can do anything without government rules. if the government limits I think it's a waste of time. unless the Government closes the total internet access. and that is unlikely, the government only retains its power with current rules. and Bitcoin is freedom.

[farhansadik]

The governments of the different countries of the world recently have started using bitcoin. But, they are still at the field level and Works behind the scenes of General people.
Besides, the governments of different countries are currently reviewing the future possibilities of BTC.
The main problem of official approval that it is decentralized transaction.
Decentralized currency can be a tool for smuggling and criminal activity.
It can damage the country's economic system and cause huge losses.

[erick94]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

Right, bitcoin is still young, it needs more development. It is bad when bitcoin is considered a forbidden currency in my country. But fortunately this management is not very strict, I can still use it freely.

That bitcoin excess, you can do anything without government rules. if the government limits I think it's a waste of time. unless the Government closes the total internet access. and that is unlikely, the government only retains its power with current rules. and Bitcoin is freedom.

I also think like that, bitcoin is a freedom so the current government can not to interfere with the affairs of every party who play in bitcoin world. the government should only be able to support when bitcoin does not harm the government and the state.

[zeze18]

yes the government should provide support for bitcoin users who are in the country, because with the development of bitcoin is increasingly will certainly give a good influence for the economy of its users

[doedz]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

Right, bitcoin is still young, it needs more development. It is bad when bitcoin is considered a forbidden currency in my country. But fortunately this management is not very strict, I can still use it freely.

That bitcoin excess, you can do anything without government rules. if the government limits I think it's a waste of time. unless the Government closes the total internet access. and that is unlikely, the government only retains its power with current rules. and Bitcoin is freedom.

I also think like that, bitcoin is a freedom so the current government can not to interfere with the affairs of every party who play in bitcoin world. the government should only be able to support when bitcoin does not harm the government and the state.

Dangerous for the State, because the state does not get tax. it is important for the government. Income from taxes is huge.
The government is afraid of losing its revenue.

[Jully Bells]

That's when cryptocurrencies will begin breaking the monopolies of governments to collect seigniorage income—the acquisition of commodities and assets by printing money.  Sadly for Bitcoin enthusiasts, the day Bitcoin replaces national currencies will never come. Big governments have the power to crush Bitcoin before Bitcoin crushes them. But things may change once cryptocurrencies gain greater acceptance by the "early majority," a larger group of individuals that turns the small demand for these currencies into a cascade, replacing national currencies as a medium of exchange and store of value. Still, the digital currency won't disappear. The technology behind it is far too powerful to be controlled by big government. Bitcoin will return back to its old role: a collectible currency for tech savvy enthusiasts.

[ethereumhunter]

Some countries are already regulating the use of bitcoin, that is a start. Bitcoin is still very young, and it is still a long way before countries start legalizing bitcoin but it can happen.

Right, bitcoin is still young, it needs more development. It is bad when bitcoin is considered a forbidden currency in my country. But fortunately this management is not very strict, I can still use it freely.

That bitcoin excess, you can do anything without government rules. if the government limits I think it's a waste of time. unless the Government closes the total internet access. and that is unlikely, the government only retains its power with current rules. and Bitcoin is freedom.

I also think like that, bitcoin is a freedom so the current government can not to interfere with the affairs of every party who play in bitcoin world. the government should only be able to support when bitcoin does not harm the government and the state.

Dangerous for the State, because the state does not get tax. it is important for the government. Income from taxes is huge.
The government is afraid of losing its revenue.

i am thinking the same to you. we know that people which convert their bitcoin into fiat doesn't have to pay the taxes and if government can apply taxes to us, imagine how much we should pay to them. and from bitcoin only, i guess the government will take huge money if they applying taxes and they can add more revenue.

[teejayrichard2]

Bitcoin will always be a threat to government as long as government can not control it. Government always want something they can control, don't want citizens having total freedom over wealth

[rudox]

Government will lose all the taxes and tariffs from exercise and duty. The government will be poor and could not exercise most of her duties to her citizenry. That is more reason why Governments will never legalize Bitcoin. 

[Bloody Mary]

There will be interesting conference in Singapo9re...and I want to learn more about it... from my experience, I feel that conferences could be a good way to learn... I found this one https://blockshowasia.com/ and I'm thinking to go, but tickets are not so cheap, I have money and I suppose it could worth it... what do you think guys? have you heard about It?