UK government wanting thoughts on digital currencies

[Morguk]

Sorry if this has been posted already.

"Do you use Bitcoin or Litecoin? The Government wants your views on digital currencies so it can look at making improvements. What draws you to using them? What are the risks? Do you think they should be regulated?"

https://www.gov.uk/government/consultations/digital-currencies-call-for-information

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[Lethn]

I haven't seen this before myself so nice find!

[BRE]

Good article  , its the sign bitcoin will fly to the moon !
Class A country like UK will give a big positive impact for bitcoin if this happen.

[Bitcoinpro]

they have setup a crytocurrency department run by people who may not know anything about crypto ?

how much are they getting paid ?

and they want possibly unemployed crypto gurus to give them a leg up ?

preposterous !
to start an operation like this they would need legislation to be passed to provide funding even if its in a preliminary fashion

I noticed the bank of england is also using tax payers funds to work on cryptos probably without legislation either and seemingly

without any real crypto experts except people that know how to plagiarize information and release it in essay assignment form
it says they wont be keeping any of your information confidential plus other stuff, seems as though they looking to plagiarize any and all ideas you might give them, not to mention sharing them with

anyone who requests information under FOI which would most definitely be the, banking institutions wealthy companies and individuals who would barely understand crypto's at this point,

[ArnoldChippy]

I like the way they think they have the option to regulate digital currencies.

I can imagine gov's getting so desperate to get in on it that they will assume any person's undeclared Bitcoin holdings are intended to be used for terrorist purposes - that does seem to be the 'get-out' clause for most things at the moment.

Governments have their own currencies and now the people do too... We can each look after our own, thanks.

[bornil267645]

Keep on wanting thoughts. By the time you get to it, sky-net will rule the world and BTC will be the only currency available.

[Coin_Master]

Sorry if this has been posted already.

"Do you use Bitcoin or Litecoin? The Government wants your views on digital currencies so it can look at making improvements. What draws you to using them? What are the risks? Do you think they should be regulated?"

https://www.gov.uk/government/consultations/digital-currencies-call-for-information

What a complete joke:
"3. We want wants to hear about the benefits of digital currencies for the people that use them and the wider economy".
https://www.gov.uk/government/news/digital-currencies-5-reasons-were-calling-for-information

We want wants to hear?  Was this written by a 5 year old?
Are we to expect as poor an effort in the whole exercise as they put into the their website.  What a waste of our time, they should get back to work not try to add more, when they already have much more to do than they are capable of doing.

As a side note it shows how "out of touch" regulators are when they have to ask "why people are using them".
"It is estimated that 20,000 people in the UK currently hold Bitcoins... But we want to get the facts on why people are using them."

Epic Fail! Why do you think, because you screwed up in 2008 and it won't be allowed to happen again. "We" the people.

[BitCoinNutJob]

UK is going all in on bitcoin cause we all think everything else is doomed:

http://www.theguardian.com/world/2014/nov/16/david-cameron-third-eurozone-recession-g20-warning

[dothebeats]

Good move by the UK gov't. If they continue on wanting thoughts about digital currencies, of course, bitcoin will be on the top of the list. The UK sets an example to other countries to start regulating cryptocurrencies, if the consultation finally came to a close by the UK gov't approving the idea.

Nice find mate.

[allthingsluxury]

I wouldn't divulge too much information to them.

[countryfree]

I wouldn't divulge too much information to them.

That sounds smart. And I hesitate about sharing my thoughts. I guess that somehow the more people will reply, the more they will feel they should regulate BTC.

[philiveyjr]

I wouldn't divulge too much information to them.

That sounds smart. And I hesitate about sharing my thoughts. I guess that somehow the more people will reply, the more they will feel they should regulate BTC.

I didnt think of it this way.!! but anyways i think they would know whats going on n stuff( If they r really keen on it).!!

[TinaK]

Is this an investigation or a decision?

[Lethn]

Is this an investigation or a decision?

One of those fact finding missions I think, like the meetings we saw with Canada and America though I doubt these will be public.

[deluxeCITY]

I wouldn't divulge too much information to them.

I don't see why you shouldn't "divulge" too much information to the government. Information as to how bitcoin works and it's usage is public information as documentation is available publicly on github, on here and on the blockchain

[Ektra]

Any ideas on where this 20,000 UK Bitcoin users number comes from?

[Lethn]

Any ideas on where this 20,000 UK Bitcoin users number comes from?

Probably their arses, but there you go, that's how little they know, there's probably a lot more out there than they even realise.

[evok3d]

Sorry if this has been posted already.

"Do you use Bitcoin or Litecoin? The Government wants your views on digital currencies so it can look at making improvements. What draws you to using them? What are the risks? Do you think they should be regulated?"

https://www.gov.uk/government/consultations/digital-currencies-call-for-information

What a complete joke:
"3. We want wants to hear about the benefits of digital currencies for the people that use them and the wider economy".
https://www.gov.uk/government/news/digital-currencies-5-reasons-were-calling-for-information

We want wants to hear?  Was this written by a 5 year old?
Are we to expect as poor an effort in the whole exercise as they put into the their website.  What a waste of our time, they should get back to work not try to add more, when they already have much more to do than they are capable of doing.

As a side note it shows how "out of touch" regulators are when they have to ask "why people are using them".
"It is estimated that 20,000 people in the UK currently hold Bitcoins... But we want to get the facts on why people are using them."

Epic Fail! Why do you think, because you screwed up in 2008 and it won't be allowed to happen again. "We" the people.

+1