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Author Topic: Bitcoin and Government.  (Read 2042 times)
Jedie22
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November 05, 2017, 10:32:25 AM
 #81

Bitcoin will continue to gain momentum but the high transaction fees and the necessity for middle-men to guarantee deposits before they are completed, drive up the cost of Bitcoin long term. This works against Bitcoin's mass market adaption, beyond the measure of it being a good investment opportunity. Other coins have lower fees and faster transaction times without the need for a third party to secure transaction amount before it is finalised.
Having a bitcoin in the government will takes time to be implemented because some countries didn't yet legalized the bitcoin
 The government need to study farther about bitcoin that gives a benefits in the society. Well, if it will be implemented it will be comfortable and easy for each and everyone of us and for sure the government want some shares like by having a tax of each bitcoin transaction. Today, bitcoin is very demand in the world of crypto currency as its value is getting high and soon to those who invested will have a good profit in the future. Smiley

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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CoinMoon
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November 05, 2017, 10:38:21 AM
 #82

Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?

Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.

Theres a lot of good reason.

Your title is confusing. Can the two (Bitcoin and Government) work in tandem? I mean seriously, Governments are either too heavy handed with regulating/outlawing Cryptos or are conspiring on how to put a stop to this flourishing technology.
I would love to one day help my government with the inner workings of cryptocurrencies and help them better understand how to safely educate the public about this new sector. Too bad they (law enforcement specifically) are ALWAYS too busy trying to wrongfully prosecute potentially tax paying citizens. Oh well.
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November 05, 2017, 10:40:53 AM
 #83

Remember that every government is run through the revenue they generated. Bitcoin is a decentralized system and it have no revenue to offer the government. Which may in turn have a negative impact to the economy of the nation. So I think will be one of the reason government might not want to legalize bitcoin.

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November 05, 2017, 10:46:30 AM
 #84

Bitcoin will continue to gain momentum but the high transaction fees and the necessity for middle-men to guarantee deposits before they are completed, drive up the cost of Bitcoin long term. This works against Bitcoin's mass market adaption, beyond the measure of it being a good investment opportunity. Other coins have lower fees and faster transaction times without the need for a third party to secure transaction amount before it is finalised.
Having a bitcoin in the government will takes time to be implemented because some countries didn't yet legalized the bitcoin
 The government need to study farther about bitcoin that gives a benefits in the society. Well, if it will be implemented it will be comfortable and easy for each and everyone of us and for sure the government want some shares like by having a tax of each bitcoin transaction. Today, bitcoin is very demand in the world of crypto currency as its value is getting high and soon to those who invested will have a good profit in the future. Smiley
It seems to me that you're oversimplifying the problem. Even if the government will be able to tax every transaction of bitcoin they are not to legalize cryptocurrency. In fact, Bela governments do not want to lose control over incomes of citizens. For them it is more important than taxes.

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November 05, 2017, 12:48:37 PM
 #85

Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?

Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.

Theres a lot of good reason.
It will sound beneficial for us,  but I don't think so it will be good for the government as well as for the law system,  as banks are the one who charges lots of taxes by these taxes our roads and most of the places,.  As if bitcoin is the only system or will implemented than it will give rise to the criminals and cyber crime will increased and will go out of control as government will not be able to track them.  Bribe will be given and taken,  corruption will git fire and tracking them will no be possible.  All the crimes will be happen and no one would do anything.  I m not in favour of this,  cause as much it will benefit it will harm us as well as..  It can be harmless if some way is find to deal with the problems it will create.

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queennathalia
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November 05, 2017, 06:03:14 PM
 #86

Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?

Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.

Theres a lot of good reason.

Your title is confusing. Can the two (Bitcoin and Government) work in tandem? I mean seriously, Governments are either too heavy handed with regulating/outlawing Cryptos or are conspiring on how to put a stop to this flourishing technology.
I would love to one day help my government with the inner workings of cryptocurrencies and help them better understand how to safely educate the public about this new sector. Too bad they (law enforcement specifically) are ALWAYS too busy trying to wrongfully prosecute potentially tax paying citizens. Oh well.
Its not about the title of this topic my friend its about the discussion of what will happend good for this our bitcoin community and by the government. You dont need to questions about the title.

You have a point, but what I want to do by the government is to study them better rather than reject them. one reason why it's too late to happen. because of the bank, it is the strongest partner of the government so they can not afford the bitcoin to use them properly and to help the people within the scope of a government.

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queennathalia
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November 05, 2017, 06:19:19 PM
 #87

as I know, most governments see bitcoin as a threat to their economy. the list you mentioned is a very good benefit, but not for the government. Even if the government wants to use cryptocurrency technology, I think they would prefer to create their own cryptocurrency instead of using bitcoin. One thing they can benefit from bitcoin, I think by taxing it, as it is today.
You are right, they want to create their own cryptocurrency to control them from managing their manipulation. so I want bitcoin to use by the government for not being controlled and manipulating it.

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Vimdesk
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November 06, 2017, 06:41:48 AM
 #88

that's your opinion! if Bitcoin is accepted in a country and the government agrees to use payments through Bitcoin, what about the conventional money used every day? this indirectly will make the infrastructure of a country no progress forward
I just give good opinion to everyone, if it is only read by a president or sits on the government they are certain to blush. Our opinion is the beauty of our country by using bitcoin. are you disagree? for me bitcoin is for our future money and daily needs.
im doesn't disagree with it, but if Bitcoin is applied in the government I think the country will be dangerous.  a better way for the government is Blockchain Technology  Wink
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November 06, 2017, 07:10:09 AM
 #89

In current scenario there is no way of spending bitcoin in regular spend in my country even my country planning to introduce own crypto currency I suspect the success of initiative because people in my country still not prepared to use digital transaxmctio. . Yes last 2 points transaction from one country to another and traveling across the world will be easy using bitcoin.

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November 06, 2017, 07:32:43 AM
 #90

You overlooked one of the biggest problems. If bitcoin replaces paper money, then the country's rights will be severely weakened. Which government does not want to do in this country?. What would you do if someone moved your cheese?
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November 06, 2017, 07:44:54 AM
 #91

I don't think it would be great for government especially when it comes to the auditing agency of the government because every transaction to them needs to be validated and pass through in a centralized of the government system the concept of the decentralized system of bitcoin ruined if this comes to frutuition.

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November 06, 2017, 08:01:19 AM
 #92

If bitcoin and government will conive in the future, this will be a good thing if the government will not change the current state of bitcoin, unless it is for bitcoins' improvement. What I mean is that even if it is officially accepted by the government as a digital currency, its use as a digital currency should prevail. Additional activity and application of it would be good if it will benefit us all.
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November 06, 2017, 08:02:32 AM
 #93

That might be a good opinion, hope that the government think that way too but that was not the reality. They maybe think bitcoin as a treat that is why they accuse bitcoin as a scam, gambling or any bad accusation they can throw on bi
to stop it.

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November 06, 2017, 08:19:08 AM
 #94

Your concept is so much good and future effective.I want to all countries government announced officially recognize Bitcoin.But it is very sad because Bitcoin is not legal for all countries.But at future Bitcoin recognize for more countries i think.

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November 06, 2017, 08:47:12 AM
 #95

It is not easy to make bitcoins set to the country's currency, indeed bitcoin has advantages, one of which is no third-party interference, with this advantage also being a weakness for bitcoin in government view, because they can not control the transactions made by their citizens and the arrangement tax in bitcoin transactions.

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November 06, 2017, 08:52:59 AM
 #96

Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?

Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.

Theres a lot of good reason.

It's not a good combination to use bitcoin with our current government. Bitcoin is totally an anti-government currency as it is a decentralized cyptocurrency. Those points that you've gave are good but I have some points with all of them.
1. Businessman will not enter a business together with bitcoin unless the government says so.
2. Not against with it as I find this convenient.
3. Still the adoption isn't wide.
4. Yes this has been happening and not against with it.
5. You can't pay bitcoin for medicine as of the moment.

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November 06, 2017, 09:00:27 AM
 #97

Bitcoin is the best crypto currency in the world. Bitcoin is not accepted by government because Bitcoin is the type of currency where there is no third party interference. Therefore government cannot control transactions done by their citizen and cannot arrange a tax system on Bitcoin. And it is not legal for all the country so we have to wait till they accept Bitcoin.
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November 06, 2017, 09:10:39 AM
 #98

Bitcoin is an autonomous decentralised cryptocurrency. It works purely on the demand and supply flow and protected by its own security system Blockchain. Governments always wants to keep its flow of currency centralised. It helps them to exercise control economy. These currencies are protected by the governments. If both these things starts working hand in hand, it will really prosper the economy as well as people living within. It will benefit to merchants as well as customers. Transactions charges will be less as well as settlement timing. Regulations on cryptocurrencies is necessary, bitcoin favoring countries like China, Japan, Australia have experienced this.

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November 06, 2017, 09:12:06 AM
 #99

Is it good combination about bitcoin and our current government? lets talk about this things if these two option was combined in the future, Our government used bitcoin and spread to every people in there countries. For me it is good. why?

Because:
1. Is good for all businessman for good transactions. Buy something and sell something.
2. Is good for payments needs to pay like billings every month.
3. For less time and moved for travelling on anywhere we want.
4. Its easy to transfer money from other country with less taxes. this favor is aprove for ofw's
5. Easy to transfer money if they needed immediately like emergencies. pay for medicine.

Theres a lot of good reason.
Obviously this is a very big conflict from the community or bitcoin and also in the government in our county the bitcoin is becoming illegal i guess because as what i can see the government is obviously dont like how the bitcoin work so i guess in thw government it is all about money and business and they are not trusted.

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November 06, 2017, 09:42:22 AM
 #100

Yes it will be very good for our country and for people of my country if bitcoin will become legal and government will accept it as a currency for trading and to do all transactions. 

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