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Author Topic: Btc and government, what does the future holds?  (Read 1381 times)
intoy_victor
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March 07, 2018, 03:26:43 PM
 #101

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?


No government could stop bitcoin. Bitcoin don't have intention to scam or to destroy a government instead bitcoin could help a govwrnment to reduce poverty.

Will there are some countries that banned bitcoin because they don't know what bitcoin could do.

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worle1bm
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March 07, 2018, 04:38:08 PM
 #102

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?
The governments across the world are now recognizing bitcoin and they have now understand the fact that they can't stop its usage or hinder its growth so now they are planning to involve it in their economy so that they can also get benefits from it by means of increasing GDP of their country and making tax provisions so as to get tax from investors.The time to make law against it has over but they are trying to stop illicit activities by usage of bitcoin in which many people are in their favour. So its time for btc and government not to be against each other.
Guryon_master
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March 07, 2018, 05:00:43 PM
 #103

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?
Your presumption is possible but this will happen only in some countries that has a government who are  not willing to support bitcoin and make it legal instead declared it as illegal. This will happen because some government are corrupt and want always to benefit only for themselves. I think their decision to oppose bitcoin is just because they are paid by banks that are afraid to lose their investors and shift to bitcoin.

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jakagintiri
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March 07, 2018, 05:01:52 PM
 #104

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?
I do not worry too much about banning, while it only prohibits bitcoin as a legitimate payment tool, as long as it is not prohibited to own and invest in bitcoins. For future problems the government should think about the legality of bitcoin and take into account all aspects, its negative to positive impact, in order to have a place for bitcoin in every country.

Manchumichael
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March 07, 2018, 05:37:32 PM
 #105

Legalization of a crypto currency is not an easy thing to do for any of the government as they are well aware of this fact that all the crypto currencies are decentralized in nature and even if they declare it as legal currency, there will be no control of the government on any of the crypto coin.

It will take some time for the government to realize the need and importance of bitcoin, only then they will take such kind of step.
The main object for the legalization is to control the flow of money going out of the country and to monitor the amount of money earned as capital gains so that they can tax those profits.If a government could control the exchanges running in their countries it is more than enough to control the system,there are other options to trade even with a ban,but the general idea of reaching it to everyone will be a hurdle.
Correct if the government take control on all exchanges in their country they will get full details of crypto users because all exchanges will collect KYC from us so it is easy for them to track our records. apart from this, we can do trade with local buyers but this is not advisable because not safety.
darrly
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March 07, 2018, 05:45:25 PM
 #106

If this is will happen then our time for earning money will be dead. We will not have earnings through bitcoin anymore.
Some countries banned bitcoin already and if it happens to the whole world altcoins will be dead also.
So we should maximize the usage of bitcoin right now and as long as bitcoin is there.

stronghands4lyfe
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March 07, 2018, 05:49:04 PM
 #107

Outright ban would be completely stupid because they not only don't get to tax whatever Bitcoins would get reported but you also push the economy underground and stop no trading. Everything would become p2p and would just avoid exchanges completely. The only way to stop Bitcoin is to stop the internet, and yeah good luck with that!

kwabeedat
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March 07, 2018, 05:54:34 PM
 #108

In the future, what will happen will be more monitoring and regulations. I think governments are now understanding that crypto and blockchain have come to stay so they should just regulate it and make it safe for their citizens. So in the next few years I won't be suprised to see more regulations

Tumanggor
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March 07, 2018, 06:04:18 PM
 #109

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?
the average of developing countries that most denied the existence of Bitcoin
lack of understanding and the increasing number of people who suffered losses from Bitcoin make the government prohibit the use of Bitcoin as a means of payment
in the future existence of cryptocurrency will surely be recognized..

leath08
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March 07, 2018, 06:27:58 PM
 #110

I really don't see how they will go about banning it?
I believe the governments hate it, because they can't control us if we all used Bitcoin they can't control us.
They will have to allow so they can get a slice of the pie somehow, Bitcoin is the best thing to happen since the internet.
I hope it succeeds and we are no longer slaves to the government.
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