What about a Bitcoin government ?

[trickyriky]

"Bitcoin" and "goverment" cannot go together in the same sentence. It's like centralization and decentralization. Government wants control over anything while bitcoin offers complete freedom. That's why until today, cryptocurrencies are having trouble passing the walls that the government is making to reach complete adoption. Bitcoin, Blockchain and all cryptocurrencies are more advanced technology that will benefit the people, but not the government, you simply cannot control a decentralized ledger technology because it is made to be that way.

You are right but I will be not surprised if something like crypto government appears. Several months ago, I heard the news about a mini-country (somewhere in Canada), which uses Bitcoin only. I guess, this country should have a government?

[Mrsparks]

I do not buy the idea of a bitcoin government because it deviate from the ideals of Satoshi.. Why introduce the frameworks present in the conventional system of the world  into blockchain technology?.. It will be catastrophic because centralization and corruption will ruin the whole thing..

[uray]

I do not buy the idea of a bitcoin government because it deviate from the ideals of Satoshi.. Why introduce the frameworks present in the conventional system of the world  into blockchain technology?.. It will be catastrophic because centralization and corruption will ruin the whole thing..

The idea of bitcoin is to be far from government regulations but that is not the way the government see things, if they see an opportunity to make money they will jump into it, form a legal framework and start collecting tax, it is what they do best and that is what we should expect in the future again there may be countries that might ban the entire market simply because they do not understand the market and how to regulate it but to see a separate body to control is highly likely in the future depending on each country basis.

[iGotSpots]

Terrible idea

[LUCKMCFLY]

I think it could not be or could not occur, in his whitepaper the idea of ​​having created bitcoin in having a totally decentralized economy, where there is no control over the bitcoins or money that people have, that is, nobody can have control, because it would become a world monopoly, where a few would have control, it would be an alternative to the traditional economy, and the worst thing is that both governments and banks could take control of it.

I think that the best way to carry things is as we are currently doing, because the world economy may fall, but bitcoin can easily be equated with the value of gold in case of a global catastrophe.

At some point of time, the bitcoin will be accepted, there will not be so much ignorance, in fact the same news will guide people to know much more about bitcoin and when they see their multiple benefits they will not only enter but they will look for ways to obtain them by buying, more Now that we are in the stage of accumulation where is the stage where cheaper to buy, since this stage is the special to be eliminating the total offer of the market and the price is prepared to go to its bullish trend.

[Cryptohistory7]

As a political science student with some knowledge of blockchain developments/projects - this was a pretty interesting thing to think about. Knowing politicians and the way governments work, it's unthinkable for them to put classified information/data and more confidential details on blockchain or use Bitcoin to facilitate systems/processes. Maybe they could use Bitcoin in their reserves but it'll mess up current fiat currencies and systems as well. Although China seems to have begun thinking about turning RMB into a cryptocurrency, but the Chinese government also has extremely strict regulations against virtual currencies. However, it seems to be that the nature of any government and the underlying principles of blockchain e.g. immutability, transparency etc. are incompatible to a larger extent. I can't imagine any government willing to do that!

[BitHodler]

I do not buy the idea of a bitcoin government because it deviate from the ideals of Satoshi.. Why introduce the frameworks present in the conventional system of the world  into blockchain technology?.. It will be catastrophic because centralization and corruption will ruin the whole thing..

I'm not sure what's worse, people following governments thinking their laws are what we should follow, or "Bitcoin maximalists" thinking that the ideals or vision of satoshi is law and we should follow that at all times.

People can do as they please. If they want a so called Bitcoin government, then are free to set one up. If people reject the idea of a so called Bitcoin government, they are free to not participate or be part of that government.

Bitcoin stands for freedom. Freedom you have when you control your private keys.

[lovesybitz]

In the first place, Bitcoin was a decentralized in terms of its features, and the government was based centralized system.
It is very seldom for the government who will regulate it, because some are not really open into blockchain technology.
though there are some country regulated it already like what Japan and Europe did, and even in Australia and more.

[TheUltraElite]

I do not buy the idea of a bitcoin government because it deviate from the ideals of Satoshi.. Why introduce the frameworks present in the conventional system of the world  into blockchain technology?.. It will be catastrophic because centralization and corruption will ruin the whole thing..

If we were to think of a system totally run by bitcoin economy then we would be bringing our own doom. The fact is that the government services that we get and fueled by taxation system. Say bye bye to tax and you can also say bye bye to the privileges that you get for being a citizen of that country.

There is no system to "govern" over the bitcoin economy, not that it needs any, but thats what prevents it from become mainstream. What will happen in future is still a mystery but we can hope for the best for all of us being bitcoin enthusiasts.

[adzino]

NO, we do not need any kind of "bitcoin government". What was the main goal of most of the crypto currencies? To have a decentralized financial system with no one interfering with your assets. Those coins/currencies will only belong to you and no one. Now, if a "bitcoin" government comes in place, then the system will no longer remain decentralized. Everything will go under that "government". We are doing fine without this government thing.

[_Django05_]

*DO WE NEED BITCOIN GOVERNMENT?*

What if we had a government for Bitcoins to support it , to legalize it like some normal currency , off course while keeping it's main points strong and not converting that into fiat.

Cryptocurrencies have yet to fully take over in the real world in a way that enthusiasts have predicted, there are some signs that bitcoin and other cryptocurrencies are making it in the traditional business space, however, without a stable value Bitcoin cannot truly be a currency. Rather it is a commodity asset that one trades, like gold or silver, in hopes that its value will rise and yield a trading profit. AND NO, we don't need Bitcoin Government.

[Cuk0ng_bitc0in]

BTC has a high risk.  and I think BTC needs regulation from the government to control every crypto movement.  at least regulations from the government can minimize fraud, scammers, and all other negative things.

[yusupjatigumilar]

I think if bitcoin is used as an ordinary currency there will be two sides that need to be considered by the government, first if bitcoin is used as a currency as usual then the government must be able to guarantee the stability of the bitcoin price because if a currency has a level of instability high like bitcoin it will be difficult to be used as an international transaction tool. Both governments must be able to make regulations that control the use of bitcoin by the public so that bitcoin is not used for acts that violate the law.

[rmilly]

I agree we definitely need a pro-bitcoin or crypto government but this extends out to every country. I don't know if the governments will outright necessarily be involved because they aren't pro-decentralization. What I do think could change regs and make governments more comfrotable are third party cyber secrutiy firms. something like ciphertrace that can help do track and trace

[kotajikikox]

If bitcoin is under by the government maybe it will easy for us to do a transaction in payment system.can access easily and quickly all over the world.legally can do a bussness using bitcoin.looking forward it happend

[bitcoin31]

BTC has a high risk.  and I think BTC needs regulation from the government to control every crypto movement.  at least regulations from the government can minimize fraud, scammers, and all other negative things.

Yes if we have the bitcoin government they have good and bad effect of having that. First for the good result it can protect for the opeople from the scammer or to the scam project because each project need to register first to them before they launch it. But the problem is they can possible control bitcoin and altcoins like the movement of it.

[Duzter]

Whenever things gets regulated it gains more trust, this is what people expect from the bitcoin too. With bitcoin the major issue arises at this point, because all that regulated assets were of centralized and a regulation adds more power to it. With bitcoin along with regulation the governments try to destroy its decentralization which should not happen, if that is possible then regulation is good.

[marcbitcoins]

For now Bitcoin critics are silenced and i didn't heard any respectable institution that are harassing Bitcoin not even the banks which known against Bitcoin before. I also noticed that most of the nations are supporting Bitcoin too therefore i think there is no need for that Bitcoin government but all we need is a strong regulation that will benefit everyone in the community.

[cryptoblazter]

We don't need a bitcoin government for bitcoin recognition. As of now, bitcoin is doing well with rich countries accepting it. Those countries banning bitcoin are those countries which are very insecured. As long as the government is good and rules always prevail, no need for a separate bitcoin government.

[TheUltraElite]

If bitcoin is under by the government maybe it will easy for us to do a transaction in payment system.can access easily and quickly all over the world.legally can do a bussness using bitcoin.looking forward it happend

There is a difference between a bitcoin government and a government controlling bitcoin. Both of these are not feasible. Again you talk about government accepting bitcoin - that is also a very dreamy possibility because the governments dont want crypto to be accepted in routine transactions. They want to keep it as an alternative mode for those who want to use it.

Surely businesses who accept bitcoin can make the move here. The government is basically pumped by the rich industrialists who control the production in a country. If they start accepting bitcoin and pressurize the government for it then the later will accept it.