2020 the year of Bitcoin technology getting accepted by governments - page 2.

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Quote from: USBitcoinServices.Com on January 27, 2020, 09:41:44 PM

2020 will be the year when more governments are going to be including blockchain in their systems to become more transparent and more reliable in order to offer a better service to their citizens.

Also, BTC will be more popular this year because since 2018 was mentioned a lot if the media, even when they talk in bad way about it, Bitcoin keeps growing, even negative news is good for the network of networks!

So many people are still just knowing bitcoin but can't understand the concept of decentralization yet! they just don't get it! because they have been indoctrinated for decades, and know it is more difficult for them to understand one important word: decentralization!

Yea, no doubt that blockchain going to popular day by day because of its transparency and highly security. So when any government try to utilized it in his government body must be focused its variations that how many way connected blockchain and here cryptocurrency is one of them. So we the crypto lovers can be happy to see the blockchain technology.

Today there are a lot of people stating that year of 2020 is the most profitable year after the bitcoin started in 2017 because some of us understand the market graph of the crypto especially the bitcoin we are getting more information from the previous years how does it work still, for now, we do need to take a lot of information because all of the information came from the analysis and data came from the internet and base in our experience are just still not reliable who all know that the market price of the cryptocurrency especially the bitcoin is volatile even we have a good data and information of the people declined the bull run of the market there is a chance it will lose and becomes not informative. But there is a chance that the price of the bitcoin will increase after the halving because this applies the law of supply and demand that the quantity of the coin goes down and starting the market value goes up rapidly.

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Quote from: USBitcoinServices.Com on January 27, 2020, 09:41:44 PM

2020 will be the year when more governments are going to be including blockchain in their systems to become more transparent and more reliable in order to offer a better service to their citizens.

Many people think that Blockchain is always associated with cryptocurrency or digital currency, (in this case it can't be said wrong either), because Bitcoin is a digital currency that originally used blockchain technology, for this reason it can be said that the blockchain is the first category to use the financial sector, so there is no harm in people thinking the blockchain is a system related to crypto.

If it is associated with a government that uses blockchain technology today, it does not mean that the government accepts and transacts with crypto or bitcoin.

For that the benefits of blockchain in the field of government are very broad, blockchain is actually not only used on digital money.

Blockchain is a digital data storage network system, which is said (multiserver), which is in the body of Blockchain technology, data can automatically be replicated and verified to other server users.
The government is more familiar with Blockchain is a master ledger that helps in data storage.

Filtered governments are using the blockchain technology system on taxation, banks, population offices, etc, the data used is more accurate and guaranteed security and so on.

That's what the blockchain technology says, can be used to store data accurately and quickly in access to various countries online.

So, don't think that the government that uses the blockchain technology network is all the government accepts bitcoin and is associated with cryptocurrency, blockchain and bitcoin are different, blockchain is a network for transactions and data storage and currency bitcoin is called crypto.

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It cannot be denied that many governments see Bitcoin and cryptocurrencies in a very entertaining way, because they know the great potential that exists, seeing so much capitalization of money in a short time that they are beginning to establish the best offers for the creation of their own Cryptocurrency or stablecoin, blockchain has opened these doors directly to governments and banks.

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Although the process of accepting cryptocurrencies is slower than we imagine, it is still a good news to all of us. Remember when it was first launched way back years ago, it was doubted by some industries and they immediately decline the idea of adapting in to it, but look at it now, it seems that all those advertisements and promotions bear fruit in the end. It would also be nice if it would slowly be accepted globally.

Every new technology doesn't get accepted at first. But when people start to realize its worth, gradually people start to get acquainted with it and the number of users start to rise. Like so, 2020 will be the year when more and more people will get access to bitcoins and more specifically - bitcoins and more governments are starting to realize its worth and are accepting bitcoins.

SquallLeonhart

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Bitcoins might have no relation with the government but the governments would always poke their nose in between the bitcoin transactions. This might even lead to the centralization process of bitcoins only because the governments have the verge to start accepting bitcoins in their financial monetary systems.

At the current situation, we could see no such intentions and the max we could see is some of the governments thinking to ban the circulation of bitcoins but this has never been possible for them so perhaps they might lose this thought. Some major changes in the blockchain network would generate a most profitable currency for the governments which can even be a national currency but the changes needed would be excess and it might also lose the originality of bitcoins.

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Quote from: EdvinZ on January 28, 2020, 02:15:52 AM

Quote from: USBitcoinServices.Com on January 27, 2020, 09:41:44 PM

2020 will be the year when more governments are going to be including blockchain in their systems to become more transparent and more reliable in order to offer a better service to their citizens.

Why is it that you decided that countries should make their national digital currency on a transparent blockchain? In most states, corruption thrives, which is beneficial to the governments. A transparent blockchain will simply not allow corrupt activities.

Gbam, you just nailed it there. Many countries including mine wouldn't risk the idea of having a Blockchain and her digital that will stand as a transparent tool for their monitoring, rather they would like to continue with their usual ways. Most corrupt countries wouldn't dare to imbibe the idea of Blockchain and digital currency alongside decentralization, this will deprive them from fraud.

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Quote from: Lakshman15 on February 20, 2020, 08:43:23 PM

I agree with your words. You saying lot of members just focus on Bitcoin price not about decentralization. Your words are not 100% true.

because people tend to earn and not to learn and this is really sucks,because crypto will not progress if we will only look for profit but not the technology,this must be change and we need to start now.

Quote from: Lakshman15 on February 20, 2020, 08:43:23 PM

There is lot of new projects they focusing on development using decentralization technology.

wish that you name some of them because they must be addressed for others to check whom they are,because so many scam project now that is why they are being affected.

Quote from: Lakshman15 on February 20, 2020, 08:43:23 PM

Slowly governments also focusing this technology but it take long time to give results. Because they started very slowly.

what would you expect from the government?when they are not really that open in accepting Blockchain ,and also Bitcoin?but sooner they will change mind and thats what they need to do.

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Quote from: USBitcoinServices.Com on January 27, 2020, 09:41:44 PM

2020 will be the year when more governments are going to be including blockchain in their systems to become more transparent and more reliable in order to offer a better service to their citizens.

Also, BTC will be more popular this year because since 2018 was mentioned a lot if the media, even when they talk in bad way about it, Bitcoin keeps growing, even negative news is good for the network of networks!

So many people are still just knowing bitcoin but can't understand the concept of decentralization yet! they just don't get it! because they have been indoctrinated for decades, and know it is more difficult for them to understand one important word: decentralization!

How can you be so sure that this year (2020) will be the year that cryptocurrency will be acknowledge by some countries(specifically those who bans bitcoin)? Well, it's true that the cryptocurrency have been a widespread news in different country even though most of their news is about negativity like scam. We have no idea when will bitcoin be accepted in worldwide but of course we want it to happen this year.

FlightyPouch

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Well, we don't know. All we know is that there are a lot of people that want bitcoin to be that main thing but the thing here is that it is not that easy to do. I read some articles about people or companies wanting to develop and the blockchain technology and it seems not working since until now we are still not seeing any updates or progress about it. I think we should step first to blockchain-based softwares or applications before we go to that step. It is a hard step and a long one but still, as long as bitcoin is there, the possibility of its technology to be used is still there.

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I agree with your words. You saying lot of members just focus on Bitcoin price not about decentralization. Your words are not 100% true.

There is lot of new projects they focusing on development using decentralization technology.

Slowly governments also focusing this technology but it take long time to give results. Because they started very slowly.

BitSat19

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Quote from: dongosquad on February 20, 2020, 05:12:25 PM

Quote from: darewaller on February 20, 2020, 02:40:39 PM

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At this stage we might assume that it might never be possible for the governments to start regulating with bitcoins but we never know what exactly would happen in the future. Perhaps considering the advantages of use of bitcoins, the governments from worldwide would start liberating their citizens regarding bitcoins and how to earn a stable stream of income from bitcoins just to stabilize their economic conditions.

I also do not fully understand because for the past several years I have been involved with cryptocurrency there have always been unexpected surprises. Moreover, bitcoin is full of pros and cons. It could be that the blockchain is more adopted to improve performance, energy efficiency and time, but it also needs to be taken into consideration also regarding expensive funding.

We can divide this world in 3 groups for bitcoin as first one is developed those are bringing some soft policies and doing legislation for this second which are thinking to do something for this or creating own cryptocurrencies for own peoples like China Russia and some more and third which is most of developing they are not going to talk about this as they don't want to allow this in their countries corruption and some basic problems are still need some more intention for them.

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Quote from: darewaller on February 20, 2020, 02:40:39 PM

~
At this stage we might assume that it might never be possible for the governments to start regulating with bitcoins but we never know what exactly would happen in the future. Perhaps considering the advantages of use of bitcoins, the governments from worldwide would start liberating their citizens regarding bitcoins and how to earn a stable stream of income from bitcoins just to stabilize their economic conditions.

I also do not fully understand because for the past several years I have been involved with cryptocurrency there have always been unexpected surprises. Moreover, bitcoin is full of pros and cons. It could be that the blockchain is more adopted to improve performance, energy efficiency and time, but it also needs to be taken into consideration also regarding expensive funding.

darewaller

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Bitcoin and specifically blockchain is slowly but gradually being accepted around the world by governments. Developed economies have already adopted Bitcoin in their economy but most developing countries are slow to this change. Along with bitcoin, other cryptocurrencies will be more feasible in the world this year i hope.

Blockchain adoption will be like the internet in the beginning, but blockchain has now advantage and that is the existence of the internet, when the internet started it didn't have any advantage, it had to start from scratch and grow organically.

None of the commodities have an advantage once they are been launched. They need to drastically generate a major demand for themselves which could attract attention from a number of people. Actually, at the initial stage everything seems impossible but the word impossible itself says " I Am Possible" so why should we lose our faith?

At this stage we might assume that it might never be possible for the governments to start regulating with bitcoins but we never know what exactly would happen in the future. Perhaps considering the advantages of use of bitcoins, the governments from worldwide would start liberating their citizens regarding bitcoins and how to earn a stable stream of income from bitcoins just to stabilize their economic conditions.

rosezionjohn

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Why will it happen this year? Only few of the governments are interested in blockchain.

What is few to you?
If you are not aware yet, even governments from the so-called third world countries are already studying or testing the technology behind bitcoin. That should suggest that the interest in applying the tech is constantly spreading.

Quote

And Bitcoin has controversial reputation among most of politicians.

Many politicians around the world probably don't even know what bitcoin is and how it works. It's mostly people from the traditional financial institutions that has issues with it.

20kevin20

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Why will it happen this year? Only few of the governments are interested in blockchain. And Bitcoin has controversial reputation among most of politicians.

If China and the EU working on centralized currencies using Blockchain technology isn't a reason good enough for you to consider a big move towards Blockchain is planned as we speak, you need a reality check.

I think this year we'll only get an idea of what the currencies will be like. It's a too quick to switch from fiat directly to digital, they'll need time to make us accomodate with the digital world.

peter0425

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Bitcoin and specifically blockchain is slowly but gradually being accepted around the world by governments. Developed economies have already adopted Bitcoin in their economy but most developing countries are slow to this change. Along with bitcoin, other cryptocurrencies will be more feasible in the world this year i hope.

Blockchain adoption will be like the internet in the beginning, but blockchain has now advantage and that is the existence of the internet, when the internet started it didn't have any advantage, it had to start from scratch and grow organically.

and in this way we are helping it grow by putting waters everyday,just like this thread that has very positive content for our community .
while others are spreading FUD ,you are pushing good conversation about how Bitcoin will go thru years.
Keep this kind of positivity mate because we will all benefits from this.

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Does the government accept bitcoin? I don't think it's entirely true. They will not accept bitcoin just like that, there must be certain conditions for bitcoin to be accepted in each country. The government is very protective of its country's currency.

depend in which government you are talking because there are some governments now that open their hands adopting Bitcoin.

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In the last few years it seems that some people look at bitcoin as a religious sect where they have to pay homage to the sect every day. I say this because people no longer bet the disadvantages of bitcoin, it looks like a religious sect. I like bitcoin, but that doesn't mean I shouldn't look at bitcoin's advantages and disadvantages. OP, governments will not accept legalizing bitcoin anytime soon, make no mistake. there is still a long way to go to have mass adoption (i'm talking about seeing bitcoin being used all over the world as a means of paying for water, electricity, paying for school, paying for documents, buying food, buying a house, buying cars all using bitcoin)

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Quote from: Gheka on February 06, 2020, 09:34:05 AM

its benefits are focused only on individuals,

Thank God, that the benefits of bitcoin are focused only on individuals, which is a great thing never seen before from any other technology like blockchain, that is how decentralization works!

I don't know how we still see people not realizing that decentralization is what will change our society drastically for good and benefit everyone, bringing power and freedom back to the people.

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As blockchain arrives at a scaling watershed, there's one key separation that the world will come to recognize, one that devotees are likely effectively extremely acquainted with—the contrast between Bitcoin, Ethereum and other decentralizing advances Bitcoin's ascension to government acceptance in 2020 is visible but will be marred by volatility and decentralization, which is the main reason government frawn upon. But it is hope to surpass previous acceptance records.

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Quote from: bitmover on January 27, 2020, 09:52:20 PM

Is there any reason for such claims or are you just dreaming out loud?

This idea that blockchain is gonna be used everywhere doesn't make much sense.

Blockchain is a slow and expensive database. Unless you have a very specific problem that blockchain will solve, it shouldn't be used. In most cases, blockchain is not applicable to the problem.

I so t think governments are going to use it everywhere to become more transparent. There are other way to become more transparent, which are less expensive.

I somehow agree with this idea and it looks like there are no references to support his claims.

Yes there are a lot of benefits we can get from this new technology but on the other hand there are a lot of things to consider. If this will apply to a certain company that sells goods, it will be purely efficient and makes the transactions very fast. While in the side of the Consumer, it will be easier too for everything will be automated once they order a single Item. However, there are security or privacy issues that should be keep in mind. Although every node has a copy of every transactions they should implement limited access to the consumer for they are not required to know every information.
Lastly, blockchain technology requires more power as it solve complex problems. This can be a burden to some countries that has larger price range for electricity.

This is not easy as many think. Though blockchain was powerful, there are some things to consider.

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