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Author Topic: How to make a win-win situation for both government and digital currency ?  (Read 539 times)
moinul018
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October 03, 2017, 05:28:49 PM
 #1

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?
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October 03, 2017, 06:18:49 PM
 #2

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think it is so hard to regulate something that the main essence is to be decentralize, meaning you want to control a thing that don't want to be controlled. I think the best shot for governments to do in this thing is to put a proper department or branch of their government in filtering cryptocurrency scene instead of banning or shutting it down as a whole because hindering it will not cure the cause instead it just worsen it.

We all witnessed in how modern technology really adopt from the real world to the world of virtual, and we are here to the point that in digital world we embraces the digital currency so meaning the force of strong digital police must born if governments really want to help their citizens in their country for the future cryptocurrencies.
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October 03, 2017, 06:21:30 PM
 #3

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Well, I think the only win that the government can get from crypto is taxes. Yet, people who want to use bitcoin and other cyrptocurrencies for daily transactions do not want those taxes. It's an immediate conflict and as of now, I don't think there's a valid solution.

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October 03, 2017, 06:26:01 PM
 #4

To achieve a win-win situation for both the government and digital currency, I think the government should pass laws, rules and regulations for the strict implementation of digital currencies. Through such, the government can fairly collect taxes due it from all digital currency transactions happening within its jurisdiction. That should be enough to help the government attain its goals and objectives.
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October 03, 2017, 06:35:02 PM
 #5

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think it is so hard to regulate something that the main essence is to be decentralize, meaning you want to control a thing that don't want to be controlled. I think the best shot for governments to do in this thing is to put a proper department or branch of their government in filtering cryptocurrency scene instead of banning or shutting it down as a whole because hindering it will not cure the cause instead it just worsen it.

We all witnessed in how modern technology really adopt from the real world to the world of virtual, and we are here to the point that in digital world we embraces the digital currency so meaning the force of strong digital police must born if governments really want to help their citizens in their country for the future cryptocurrencies.
Controling a decentralized stuff would really be a hard thing for government this is why they do really do such thing on banning it some did able to adopt it because they cant do anything.I do love the idea that cryptocurrencies should really have an another department on where government would able to monitor rather than on banning it.

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October 03, 2017, 06:40:24 PM
 #6

I think Bitcoin regulation is win-win situation for both. Governments would make "order" on that way on Bitcoin market and have some control over it, but not full and centralized of course, and for Bitcoin that would mean more adoption especialy for businesses. Bitcoin users don't have to be afraid from regulation.

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October 03, 2017, 06:56:28 PM
 #7

I think Bitcoin regulation is win-win situation for both. Governments would make "order" on that way on Bitcoin market and have some control over it, but not full and centralized of course, and for Bitcoin that would mean more adoption especialy for businesses. Bitcoin users don't have to be afraid from regulation.

But in this case, what does the government get from the regulation? If more people use BTC, they can avoid paying taxes for their transaction. This would cause a lot of issues, especially with debt.

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October 03, 2017, 07:08:13 PM
 #8

Government likes to put taxes on everything so the only way they would benefit from digital currency is to put tax on them. That would immediately spark the rage and discontent of many users that are using it everyday , gamblers mostly to be honest. There cannot be such situation for the moment and it is not looking good even in the short and distant future.

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October 03, 2017, 07:13:19 PM
 #9

Legalization is going to be that win-win solution you are talking about.  From legalization the government is going to have it's benefits in the se a of taxes which exchangers and ATMs would pay to it. And digital currencies are also going to have it's pluses, one of the is the price, we all here care mostly about the price and legalization would attract more crypto users, that will pump the price for all coins to the sky.
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October 03, 2017, 07:42:07 PM
 #10

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think the best thing government can do is regulate wallet provider and give licenses to the legitimate one. Then just monitor criminal activities that uses digital cryptocurrency. That’s only the ideal participation they must do and should not touch the privacy, all personal information and keep out from monitoring users with only good intentions. It is the only win-win situation government and bitcoin community will be satisfied about.
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October 03, 2017, 08:16:21 PM
 #11

Nope it wont happen because the two ideas you are talking about are literally contradictory in nature. One looks to centralize and control money supply whereas one looks to decentralize and not control money supply. Please

tell me how these two opposing forces can work side by side in harmony? I dont see it happening, atleast for sure anytime soon.

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October 03, 2017, 08:21:48 PM
 #12

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?
government can only benefit from cryptocurrency by adopting blockchain technology into the financial system. Governments may not successfully be able to regulate bitcoin and others cryptocurrency but they can adopt it into the financial system. Bitcoin on the other hand should do what ever need to be do to make transaction transparent, so that  governments can understand what is going on.

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October 03, 2017, 08:26:20 PM
 #13

Governments gonna to follow crowd and first adopters always take advantage of serving first. But world regulation rules dont let them do their job as they wish.

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Youghoor
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October 03, 2017, 08:39:21 PM
 #14

Yes i think that the only way to make banks profit from cryptocurrencies is only if they adopt cryptos or if they start working with them (offering funds with crypto's profits) or any other example that can be profitable for them too, by this way they will stop making fud against cryptos because they have profits in common.
But probably this is the only way out in bitcoin-banks war, i guess.

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October 03, 2017, 08:50:05 PM
 #15

Most people think that any form or regulation will be harsh - because we don't need to pay even 1% of any tax related to cryptocurrency.
Also, we would have to be anonymous and have all perks of decentralized digital currency - but we need to face the reality:
Bitcoin is not the holy grail of economic heaven - sooner or later you will need to declare that you own BTC, or you will pay tax for your BTC related profits.

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pitiflin
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October 03, 2017, 08:51:02 PM
 #16

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?
Well that's actually easy. People are interested in decentralized digital currency which uses block chain technology and governments are very much interested in block chain and are conducting research and study on it is what I heard. So if you combine both of them you will get a crypto currency which will be regulated but at the same time block chain technology will be put to use.


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October 03, 2017, 09:26:20 PM
 #17

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

It must be clear to us all that if we’re talking about government, I think we must be specific if it is officiated by good public servants or the corrupt and self centered officials.

If a good government make a legal move for bitcoin I’m more than 110% supports to it. And it will be most of us in that case because we all confident that they’re doing it for the people and for the country.
But if a corrupt government officials are the once pushing it, I will opposed on any regulation that they will implement and I don’t care if I will violate a law on doing so.
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October 03, 2017, 10:14:53 PM
 #18

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Well, I think the only win that the government can get from crypto is taxes. Yet, people who want to use bitcoin and other cyrptocurrencies for daily transactions do not want those taxes. It's an immediate conflict and as of now, I don't think there's a valid solution.

Taxes is a way for the government to generate income and revenue but then as you said, I'm sure that the bitcoin users would be against this because this would mean additional cost for them. But this would be the likely thing for the government to do, as with other new entities that need control.

I remember when Uber was new in our country, nothing was done to regulate it but after some time they require them to have some licensure. Uber can still continue its operation and at the same time - is regulated by the government. Perhaps something like this would be applicable for bitcoin and cryptocurrency.
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October 03, 2017, 11:12:49 PM
 #19

Nope it wont happen because the two ideas you are talking about are literally contradictory in nature. One looks to centralize and control money supply whereas one looks to decentralize and not control money supply. Please

tell me how these two opposing forces can work side by side in harmony? I dont see it happening, atleast for sure anytime soon.
tax. people must give tax to government (other says). but it's likely win solution for one side only, i'm personally don't want to be taxed. They are kidding me, bitcoin created to avoid something like bank and tax.
Maybe we can look to japan or other countries who legalize bitcoin. they let people use bitcoin, no tax, but have some rules to follow (still give problem to anonimity of bitcoin user). Also hear japan will create J-coin and dubai have Emcash, that's way they can still get benefit from cryptocurrency
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October 04, 2017, 12:06:18 AM
 #20

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?
That will be difficult to find a win win solution to the goverment and the cryptocurrency. as far as i know that the goverment wants crypto to follow the government regulation but that looks so difficult,

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