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Author Topic: If crypto in the future is the world currency, what about the government?  (Read 244 times)
BQ
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May 16, 2018, 01:07:27 AM
Merited by paxmao (1)
 #1

I'm no expert on this subject(rather quite a noob), but I'm thinking about the way crypto currently offers semi-anonymousness to people.
I know there are 'fully' private coins, but hard to see that become the main currency-crypto.

If we somehow manage to move away from the current fiat system, in any timeframe - 5, 10, 30 years -
how do people imagine the system will work? Will there still be a government in control, and knowing everyone's wallets?
If so, did we really progress in the right direction with crypto, if all it does is basically provide the government with an open ledger?

In a way, it seems like this would result in criminals being 'more criminal', and again, more damaging for regular people.
A bit like limiting guns and such, where regular people no longer can protect themselves, while criminals still has access to weapons.
If crypto becomes mainstream, wouldn't this mean the government, as well as any type of like advertising companies etc - could easily see exactly what 'regular' people are doing with their money?
People would need some type of wallet to receive salaries etc, which probably would be required to be known by the government to be legal.
In terms of privacy, decentralization, trustless etc - isn't this kinda the opposite of the goal?

I do understand there are alternatives and ways to combat this, but - personally - I find it hard to believe that 'regular' people truly would adopt any crypto currency as the norm, without some type of government 'support'.
I mean, people who barely knows how to send an email, won't really go through monero for their purchases?

Anyone care to share their opinion? Is there maybe some good articles about this?
Again, I'm no expert, I believe in crypto and importance of privacy, decentralization, immutability and so on -
I'm simply curious on what we could expect if crypto did overtake fiat somehow.

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May 16, 2018, 03:35:36 AM
Merited by nakamura12 (1)
 #2

Crypto is not just about currency, anonymity is the core, and I think government can aid to safeguard the anonymity of its citizens by using and encouraging the use of services such as TOR. Dejectedly, there are many applying weary rhetoric against strong cryptocurrency and end-to-end facilities. They cannot stop the use of these technologies, just as if they cannot stop every drug trader on our street(s). However, the same is factual of any borderline, and the lone approach any of us can have a say in its future is by embracing things along the way. Government already distinct precisely the line among legal and illegal constituents. They have been able to exploit a weakness in order to de-anonymized people. People should not do anything stupid and I am sure they will not find you. In my opinion, the government have no dwelling on the internet and common sense does, they have always strained to prohibition of freedom on the internet and we should not give them any reason(s) to.
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May 16, 2018, 10:30:04 AM
 #3

It seems to me that the government will eventually adapt to crypto. As through anonymous crypto it will be possible to take bribes, and through open to show people their robot. Crypto will give everyone a track of where their taxes go and until the government adjusts to crypto, there will not be any normal development.
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May 16, 2018, 04:17:56 PM
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 Behind the criptocurrency there is Blockchain Technology, so is obviously that goverment will use Blockchain because is a politcal manner of shows transparency. So the first step for that is the adoption of blockchain technology by banks. Another reason is the process of transactions, there are regulators... but with blockchain some regulators are not needed anymore and if there are some regulators.... Government saves money. Finally is going to be a transition like the before age of internet.
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May 16, 2018, 07:08:13 PM
 #5

This is a really interesting topic. I believe if crypto really gets on the level you're speculating, both assets are going to coexist and the government itself is going to create it's own public cryotp, but I don't think crypto will ever replace fiat because of usability and other things.
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May 16, 2018, 09:31:30 PM
 #6

     I believe one of the reason government is kicking against crypto is anonymity and open ledger system. All form of corruption are done without the public knowledge, you only know about it when someone get busted. But with crypto you can trace all transaction done and why it was done, this will go long way in abolishing mismanagement of fund. But i personally believe that almost all country today are run mainly or full of deception, so crypto is a no go area for them except their will be a way to mask transaction which i have seen some ICO offering such program.

     However, anonymity will be exploited if crypto goes mainstream, transacting millions of dirty dollar using crypto will be a bigger issue.   
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May 17, 2018, 11:31:41 PM
 #7

This is a really interesting topic. I believe if crypto really gets on the level you're speculating, both assets are going to coexist and the government itself is going to create it's own public cryotp, but I don't think crypto will ever replace fiat because of usability and other things.
I am very confident that in due time, the governments of the world are going to come to a sudden realisation that this is the world we are all living in and will then start making their very own cryptos just like how the Venezuelean government are doing.
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May 18, 2018, 03:23:11 AM
 #8

It would be interesting to see the decentralization of government and governing. Currency is a good start
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May 18, 2018, 01:42:21 PM
 #9

It would be interesting to see the decentralization of government and governing. Currency is a good start

Why don't you take a google-look to the project Bitnation Pangea and how an existing Native American Nation is going to use for self government? It shows how anyone can now create a have virtual nations with citizens with a governance system on the blockchain.

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May 24, 2018, 08:02:22 PM
 #10

It would be interesting to see the decentralization of government and governing. Currency is a good start

Why don't you take a google-look to the project Bitnation Pangea and how an existing Native American Nation is going to use for self government? It shows how anyone can now create a have virtual nations with citizens with a governance system on the blockchain.



That's really interesting, wondering how it'd actually work on a big scale!
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May 24, 2018, 08:52:00 PM
 #11

It would be interesting to see the decentralization of government and governing. Currency is a good start

Why don't you take a google-look to the project Bitnation Pangea and how an existing Native American Nation is going to use for self government? It shows how anyone can now create a have virtual nations with citizens with a governance system on the blockchain.



That's really interesting, wondering how it'd actually work on a big scale

I don´t know. I own 1 Million tokens... I think is like... 50 USD  Grin  I just wanted to be part of it. Maybe I will make the Voluntary Decentralised Republic of "Paxmania" and see how it works
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May 25, 2018, 04:22:28 AM
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It would be interesting to see the decentralization of government and governing. Currency is a good start

Why don't you take a google-look to the project Bitnation Pangea and how an existing Native American Nation is going to use for self government? It shows how anyone can now create a have virtual nations with citizens with a governance system on the blockchain.




Thank you. I will.
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May 31, 2018, 11:52:03 AM
 #13

I think at some point governments will have to embrace crypto and believe there will be nation or country coins spring up as an attempt to do this...Aussiecoin? USAcoin etc. wether the public get on board a nation coin is debatable but one could certainly transition a lot of government functionality and services to a nation coin which would reduce fees and complexity for the departments in question. Would this then devalue the dollar? maybe...
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June 01, 2018, 07:27:52 AM
 #14

Sooner or later the governments of the world will find the ways to control cryptos and that is not a bad thing in my opinion, as that should bring stability, fraud protection and usability for this very promising implementation of chainblock.
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June 04, 2018, 10:03:33 PM
 #15

The government will surely acknowledge crypto  as one of the currency in the world. I think it is better if the government can control cryptocurrency world as it makes it more legit.
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June 06, 2018, 01:22:25 AM
 #16

The reality is that the majority of people don't really care one way or the other. Whether we use centralized systems with governments manipulated by selfish and clueless people, or decentralized systems that are trustless, people just want to do things. 95% of people just want to go about their daily lives and couldn't care less.

That's why for Bitcoin and blockchain to take off and to replace government and corporate controlled central services, it will require the cyberphunk, libertarian, and various other visionary movements to really push through with their visions, and insist upon them politically, socially and financially. The change will come from 5%. The other 95% will just follow whatever the order is. Change the order at the top, and you change everything.

Until then the government will not be one that will willingly hand over its power to decentralized systems. They are corrupt and beautiful wordsmiths that con the majority of people thinking they act in their best interests. They're not going to suddenly hand over their power to a democratic trustless system. When however "we" get into power, we hopefully will see past the personal greed and make the transition for society possible.
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June 07, 2018, 01:06:40 PM
 #17

Sure. There will still be a governance system. Blockchain will assume a centralized nature like the fiat. The government will have to in someway introduce even taxes. On of the reasons why most governments are fighting against bitcoin is its nature of decentralization, and it brings no income to the economy of the country.
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June 14, 2018, 01:46:11 AM
 #18

Sure. There will still be a governance system. Blockchain will assume a centralized nature like the fiat. The government will have to in someway introduce even taxes. On of the reasons why most governments are fighting against bitcoin is its nature of decentralization, and it brings no income to the economy of the country.

but the country involves all people in it, not just the government.
maybe we don't need a government in the future?  Roll Eyes
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June 18, 2018, 04:14:21 PM
 #19

Govt has some serious fear, the fact is speculation of the bitcoin price. Then always govt going to regulated the crypto world
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June 21, 2018, 06:45:31 PM
 #20

Actually crypto currency bitcoin already overtake hundreds or thousand times the value of dollar and euro, so the possibilty of crypto currency as the future world currency is at it's near.  Crypto transaction is done through internet connection,  the whole world uses internet connection. I believe we are already in 80. (point)   Something percent,  we are just waiting for the centralization and regulation of crypto currency into inter-national denomination. So buckle up and HODL.
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