What will happen if Bitcoin gets official permission from the government...???

[reverseflash]

If the government officially allows bitcoin, then this means only the government’s desire to make profits from bitcoin-fiat transactions and vice versa. Control, and even more control in cryptocurrency operations is practically not possible.

[1714804836]

1714804836

[ratatat bangbang]

I think the price of bitcoin will rise same as fees in money transfer and different payment transactions.

[Sama517]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

Some countries have already given bitcoin the approval to be used freely and this have not made much of an impact. But I believe if the world powers or the G8 countries approve it, the price will skyrocket.

[Diced90]

If the governments were to officially announce the support of Bitcoin the price will roar and so will the rest of the markets. The stability may also be improved.

[Chicksteen]

If the governments were to officially announce the support of Bitcoin the price will roar and so will the rest of the markets. The stability may also be improved.

Everyone can benefit from it also and no more fake news like bitcoin is just scam and people cannot be afraid to invest on crypto. Government legalized and accept bitcoin can make a big change even on the market and people can feel how good and convenient to used it in transaction.

[94K]

We have been waiting for this great news and I think the day this will be announced, people wills start to buy BTC and also invest into it which will make BTC hit the moon.

[CaVO32]

If the governments were to officially announce the support of Bitcoin the price will roar and so will the rest of the markets. The stability may also be improved.

Everyone can benefit from it also and no more fake news like bitcoin is just scam and people cannot be afraid to invest on crypto. Government legalized and accept bitcoin can make a big change even on the market and people can feel how good and convenient to used it in transaction.

yeah, there are benefits but there are disadvantages also. government might find a way to tax every cryptocurrency transaction. they should not do that. most of the time, that money will just be pocketed by corrupt politicians.

[Harrisonimo]

The bitcoin becomes more powerful after and when it becomes accepted and given permission by the different governments. There are quite a lot of more opportunities that will then be made available  with more adaptation exploration.

[bitcoins94]

Once regulations are in order the crypto market will see an increased of activity. AML BitCoin will be accepted everywhere and by everyone. Cant wait for this to happen.

[bloodyvio]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

because bitcoin is decentralized, it is impossible for the government to manage for each transaction
it's peer to peer transaction between two people so we don't need the government

[xuan87]

Of course the government will take advantage from every transaction,the reason why the government want to interfere is because the government want to taxes the transaction, the government interference could be bad and good depends on the regulations

[basyang]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

If the government gives a permission to bitcoin to became it legal well, it is a great opportunity to all of us here in the community because many people are using bitcoin and I know lots of people got interested to it once it will implemented especially the younger generation today they were very curious in many things and they are not afraid to do a new things when it comes to technology.

[yurekaa]

If it happens. bitcoin will get stronger in the trade market, bitcoin will have a stable value and investors will no longer hesitate to start investing in crypto, especially bitcoin. and the development of crypto will increase rapidly because crypto-based digital economies have received approval from the government. and all crypto prices will increase.

[jamids]

Of course the government will take advantage from every transaction,the reason why the government want to interfere is because the government want to taxes the transaction, the government interference could be bad and good depends on the regulations

One of the advantage that the government would be able to get when it regulated bitcoin is that it can get some tax from the transactions which would become a win-win situation for both the crypto enthusiasts and the government because they can both benefit from it. It would attract more users as well because many people just believe something when it is legalized and if it will happen then more people would consider being involved in cryptocurrency.

[iMark]

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction

What is your opinion.?

it is also possible for the government to intervene in BTC or altcoin transactions, possibly doing so through the bank or other party. this will greatly benefit government, users and also BTC.

if legalization and regulation are regulated, basicly the government cannot interfere with transactions between recipients and senders, they only use third parties such as exchanges to monitor for the benefit of the government, if you do not use third parties such as exchanges then the government cannot intervene anything on you

[DragonETH]

Of course the government will take advantage from every transaction,the reason why the government want to interfere is because the government want to taxes the transaction, the government interference could be bad and good depends on the regulations

One of the advantage that the government would be able to get when it regulated bitcoin is that it can get some tax from the transactions which would become a win-win situation for both the crypto enthusiasts and the government because they can both benefit from it. It would attract more users as well because many people just believe something when it is legalized and if it will happen then more people would consider being involved in cryptocurrency.

bitcoin does not provide for the presence of a third party in the calculations. all that the government can do is to launch special applications for cryptocurrency payments, which will be able to collect taxes from operations.

[trader_999]

I don't know why many of the countries don't want to accept crypto... They have no option left right now they should accept the truth of crypto right now and should make it legal.

[bangkecol]

This is what has become a polemic until now why bitcoin is still not acceptable in the government, because there is no interference and the institution is watching, so bitcoin tends to be very risky for a crime.

Hopefully, in 2019, there will be positive news about the ETF which will be held in 2019 regarding the legality of bitcoin.

[CryptoBull31]

What a weird question. Bitcoin is designed precisely with not requiring government permission in mind. It's like asking "what if torrents get official permission from the government". What then? It changes nothing, as bitcoin same as bittorrent is deisgned as a decentralized, uncensorable p2p protocol. Furthermore, "official permission from the government" would mean requiring KYC/AML on any step of bitcoin buying, selling, trading or transferring, or using centralized, censorable exchanges that can steal your funds under any pretense (like your money being so-called "tainted" bitcoin, which is absurd).

tl;dr - bitcoin doesn't need an "official permission from the government"  

[jojowar]

If bitcoin gets official permission from the government, the public will be positively inform about bitcoin and cryptocurrency then the demand will goes up as well as its value.