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Author Topic: Btc and government, what does the future holds?  (Read 1386 times)
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January 30, 2018, 10:18:10 AM
 #81

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?

Bitcoin, as well as the cryptocurrencies market, is facing a risk of being banned from trading by governments. But I find the government's ban on electronic money is because they feel they can not control the money, fearing it will affect the economy as well as the finances. And now governments in some countries instead of banned Bitcoins and cryptos, are looking for ways to control the cryptos,  they recognize that the cryptocurrencies market will be the future of the currency in the next 30 years.

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January 30, 2018, 10:22:22 AM
 #82

Some countries already banned cryptocurrencies, just like in china. In September last year,  ICOs were banned in china, and to suspend crypto to fiat currency order-book trading services. Recently about 2 weeks ago, Chinese government also wanted to apply more strict regulation on cyptocurrency trading-related activities and services. Korea is also planning to ban crypto exchanges but its not yet final. All those banning are already happening. Hoping that other countries wont do the same and still look on the benefinits that cryptos can give us.
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January 30, 2018, 10:35:58 AM
 #83

bitcoin to control or not possible, or very hard, it is better to live in a country where the crypto-currencies are legal

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January 30, 2018, 12:40:20 PM
 #84

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?

Bitcoin, as well as the cryptocurrencies market, is facing a risk of being banned from trading by governments. But I find the government's ban on electronic money is because they feel they can not control the money, fearing it will affect the economy as well as the finances. And now governments in some countries instead of banned Bitcoins and cryptos, are looking for ways to control the cryptos,  they recognize that the cryptocurrencies market will be the future of the currency in the next 30 years.

Its too early to tell. Governments around the world don't have the same stand when it comes to crypto, with japan leading those that seem to accept bitcoin with open arms, and those like china who seems too uneasy about an anonymous currency. For me, in the long run crypto will be regulated by certain countries and eventually be accepted with certain laws and restrictions

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January 31, 2018, 07:50:26 PM
 #85

Sadly, there is no guarantee that such a thing can't happen. In some countries, bitcoin doesn't pose a threath. Also ,it doesn't harm the economy. At least, not yet.
But, for other  countries that are facing problems, it is indeed a threat. Some transactions need to be tracked, for people 's safety purposes. For example, imagine that an assasination happened. The government caught the hitman and the money he got from the opetation. They want to track it. If it is in bitcoin, they can't. In that case , they will just prohibit it.

What i want to say , nothing is certain, because its happening , depends on too many variables.
For sure, this matter of bitcoin legalization and illegalization throughout the world is not a small thing. It is moreover dependent on various factors such as the government system of the state, economy, crime rate, demographic variations etc. so it is not easy for the state to take nay solid step in short time. Here I will appreciate those countries that have declared bitcoin legal because they are step ahead from others in understanding the need of this action.

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February 01, 2018, 05:37:18 AM
 #86

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.
I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  Roll Eyes i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.
Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.
They have more advantages for bitcoins if they are banned, yes you are right. These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.
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.

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February 01, 2018, 06:16:55 AM
 #87

Yes the government able to banned all the things regarding to crypto currencies and there are nothing we can do about it, we only can secretly using or saving crypto, and there is possibility that the government will take that action, if the government feel cant control the crypto anymore then the government will take the easiest action which is banning crypto completely

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February 01, 2018, 06:20:53 AM
 #88

Some country already do that and government on every country has power to do it (banned cryptocurrency). Time will tell.
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February 01, 2018, 06:48:08 AM
 #89

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?

To break the camel’s back, I think that a country needs to sponsore and let cryptocurrency work its way on its economy and financial status. Once it has fully integrated and a lot of companies take notice major investments would be made and governments would soon take notice of what is there for the future on them if they would behold bitcoin into a whole other level into which they finally accept bitcoin as a currency



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February 01, 2018, 07:12:23 AM
 #90

Yes the government able to banned all the things regarding to crypto currencies and there are nothing we can do about it, we only can secretly using or saving crypto, and there is possibility that the government will take that action, if the government feel cant control the crypto anymore then the government will take the easiest action which is banning crypto completely

In my country bitcoin is legal upto now.So I was very happy about it.Bitcoin is the future currency .The country which makes bitcoin has a legal are the early adopters of bitcoin.The people of their country will have huge bitcoin in their wallet.Government making bitcoin as a legal because they got fear bitcoin will replace their currency.

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February 01, 2018, 08:39:40 PM
 #91

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.
I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  Roll Eyes i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.
Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.
They have more advantages for bitcoins if they are banned, yes you are right. These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.
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.
Bitcoin legalization is a healthy activity for those who are involved in making money form crypto coins and crypto market. The thing is that don’t go for everything that attracts you in the crypto market, follow the facts and figures instead of your instincts. As far as legalization is concerned, I don’t think so it should be a big issue for the state. Government can carry out referendum for the legalization of bitcoin.

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February 02, 2018, 03:13:02 AM
 #92

In fact, some countries and bitcoin had already surpassed all that. Let's not forget about China's decision to ban cryptos and the price of bitcoin goes down as the effect took place but bitcoin remains unfazed and even come back strong.

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February 02, 2018, 03:29:02 AM
 #93

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?

they can do it but they wont do it. in my opinion, the gov looks this tech is what they need in the many future ahead. which everything needs an upgrade and its more efficient to use. but if they do get law against btc, it means that they fail to get profit from it. any gov is just trying to set up how to getting profit from it in a long period time. if all country have their own crypto signature and yet its can be use anywhere in the world its actually more profitable to everyone if they looking deep into it. PROFIT all the time, anytime, anywhere, and everyone.
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February 23, 2018, 09:33:01 PM
 #94

I am not worried about that, the government just wants to make this bitcoin regulation because this transaction is very risky, not forbid bitcoin.
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February 23, 2018, 09:58:13 PM
 #95

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?
Always keep in mind that bitcoin is a decentralized currency and only the users who hold it have the control on it that what to do with their bitcoins. So no matter what the others decide for bitcoin you can do what you want with bitcoin. Actually I am trying to explain that no one have to worry about the price because the price of it will be that for which you will sell it. If you will not sell panic then it will remain safe.


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AdamRay
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February 23, 2018, 10:27:55 PM
 #96

I am not worried about that, the government just wants to make this bitcoin regulation because this transaction is very risky, not forbid bitcoin.
I think that in the next few years most governments will accept bitcoin in payments because of its great advantages that currencies and other traditional forms of payment can not do. Some countries are studying their own crypto for national economic growth, notably Venezuela, which has developed its own Petro coin.

SeNeor
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February 23, 2018, 10:41:08 PM
 #97

I foresee brighter future for Bitcoin where Government shall be having a kind of support with few back up regulation just to safe guide their user citizens in their operation, and not in Bitcoin control since the Government themselves shall be expecting quantum of returns from their Cryptos Investment then.

eaLiTy
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February 24, 2018, 12:10:20 PM
 #98

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.














 

 

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MuffinMaster
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February 24, 2018, 12:14:15 PM
 #99

Goverment could even close every transfer in crypto in their country so it depends where you life or you are going.
PS. In my country we are still waiting for answer about "crypto law" so now almost everything is legal.

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amzadabir
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March 07, 2018, 03:12:25 PM
 #100

I think BTC will not stop. Because Bitcoin is not bad. It can benefit from the government.As bitcoin launched in 2009, most early adopters saw its disruptive potential. While bitcoin has stalled for some time approaching a valid use of the term “stagnation”, cryptocurrency in a larger context is still just as disruptive. In 2011, I stated that bitcoin (cryptocurrency) will do to banks what e-mail did to the postal services. This is not just true, but it will be even more brutal to governments, and by extension, governmental services.
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