2020 the year of Bitcoin technology getting accepted by governments - page 4.

USBitcoinServices.Com

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Quote from: Rengga Jati on January 28, 2020, 07:59:09 PM

Really? What is the very good news about crypto that can make the government accept bitcoin technology, I also mean, what government?
The issue about the crypto world and government so far is likely something that cannot find a good deal.
The government, with many concerns, may really consider accepting Bitcoin technology for their country (read: every country has different rate and situation regarding to the bitcoin and crypto technology).

The good news or good thing is blockchain, and many organizations, government included are adopting blockchain for their own use. What government? Japan and Germany, for example, are pro blockchain countries. China government also considering to issue their own digital currency using blockchain.

If 2020 is not the government entrance to the blockchain, at least it is the beginning, others will follow suit sooner than later.

Cjblog

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Their will come a time when botcoin will be considered an alternative form of exchange?please think again.As long as there is a decentralisation in the system, the chances are too slim

Baoo

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Well, I am completely disagree with you, your opinion is not realistic I would guess, It is complicated for the governments in order to recognize Bitcoin especially with the presence of FIAT as the world economy , even most of Banks are against cryptourrencies , that's fact. Plus, I don't really expect that in this year we are going to see significant developments in Bitcoin except the halving event, but nothing is guaranteed in this field regrettably, but at least we need to be optimistic .

Latviand

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Quote from: USBitcoinServices.Com on January 28, 2020, 12:42:33 AM

Quote from: avikz on January 28, 2020, 12:01:39 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.

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!

What's the bottomline?

Blockchain being accepted by governments certainly don't mean that bitcoin will have the same status! Even a lot of countries including China will start their own digital currencies using blockchain. But does that mean, bitcoin will have an impact?

Sure! bitcoin will have an impact, the more people talk and use bitcoin the better future for bitcoin! bitcoin is still in a non-massive adoption yet!

Bottom line is, the more governments use blockchain, the better for btc! BTC is the door of cryptos!

But the problem is, this year is devastated already by many problems from its early start. Health related issues, wars and such. Although the tension between the two countries have somewhat affevted the price of Bitcoin, I do not still think that this year would be a year where more governments would adapt blockchain technology because they would more likely focus on issues such as stated. But it is still early, and assuming is not a bad thing.

dimfrab

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BTC stay the first crypto and it will stay a control on others crypto. The reason to exist of this is, for me, the confidentiality and no country control and own this. The first problem with BTC today is severals mining farms have got contain the money.
#relictum.pro #relictumpro #relictcoin

gundala

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Government and transparency seem difficult to put together. To improve functionality it is very appropriate to use a blockchain but it must be thoroughly assessed and ensured appropriate because it requires no small cost. The centralized system is indeed the case because the government can provide full control, so it cannot be fully decentralized system can be applied. After all, blockchain and bitcoin can be adopted separately, so even if the government finally applies a lot of blockchains, it doesn't mean that bitcoin gets the same position.

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Quote from: blckhawk on January 30, 2020, 08:07:45 PM

People talking about BTC is just looking another hype bubble, not true adoption. What we need is for them to actually use it.

Blockchain, while baing a secure system, does not outperform centralized databases, and is not always a viable option for businesses to use. It requires more processing power, and therefore more cost, because of intensive cryptographic hashing and chaining.

There are people looking to make money with BTC and there are others spreading BTC knowledge in order to reach mass adoption, others are creating apps in order to make BTC more useful and this is something that will occur and it is happening organically. It takes time, nothing is in a month or just one year!

Blockchain is still in progress, at this point is not outperforming centralized databases, but that doesn't mean it won't do it in the near future. it is a matter of time.

blckhawk

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People talking about BTC is just looking another hype bubble, not true adoption. What we need is for them to actually use it.

Blockchain, while baing a secure system, does not outperform centralized databases, and is not always a viable option for businesses to use. It requires more processing power, and therefore more cost, because of intensive cryptographic hashing and chaining.

barbara44

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This year actually has not actually a special one as years come and go. There is much lower chances of the governments to declare bitcoins as a mean of regulatory payments. This would actually change the entire world if ever this step is been taken by the governments but until now, considering the cross swords between the centralized and decentralized authorities I do not really think that the governments have any kind of intentions to consider including blockchain into their regulatory system.

Moreover, I do agree with you that any kind of news usually proves beneficial for bitcoins because the more people would know about bitcoins, the more they would wish to invest in. So, let the media continue sharing news about bitcoins maybe in positive or even negative way.

kotajikikox

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don't be exaggerated mate,never expect too much specially if you have no basis in telling such because this will bring frustrations not only in you but to all who will believe in your posts.yeah we are all or this to happen but we also know that so far this is impossible and no assurance of happening soon.
governments that hate Bitcoin is growing so there is no looking great in the near future.but of course reading like this are boosting our trust in crypto but not enough to hope tha.

OrangeII

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as far as I know, the government has long accepted blockchain technology, and I also know that some countries are currently developing a blockchain for their benefit. however, the thing they refused was, the use of crypto as a legal payment instrument, because it could put Fiat at risk. however, I think crypto will never be accepted as a currency, or a transaction tool, but it will be accepted as an investment tool and other technological development.

hendra147

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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.

this is the data of goverment statement with bitcoin

https://upload.wikimedia.org/wikipedia/commons/2/23/Legal_status_of_bitcoin_%28new%29.png

the green positive mean bitcoin is legal, but not all legal in currency, some goverment use bitcoin as asset

other detail source you can see at here :
https://www.loc.gov/law/help/cryptocurrency/world-survey.php
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

smartbitcoininvestor

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The government of Dubai is already utilizing the blockchain within their systems. Every country is different, however, blockchain technology would definitely make processes more efficient and information more transparent.

USBitcoinServices.Com

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Quote from: Shasha80 on January 28, 2020, 09:31:03 PM

I am also sure that this year there will be many countries starting to accept bitcoin technology, namely the blockchain, although many
countries will still be maintain its old principles. Because in my opinion if the country does not keep up with technological developments
then the country can be left behind.We can see China as an example, China is a country that hates cryptocurrency. Especially bitcoin,
but now it is policy they change. Without any doubt the Chinese government supports blockchain technology and makes their own crypto
coins. And this will happen to the country others because sooner or later blockchain technology must be used, especially for financial
transactions. order is more transparent and effective.

Indeed China is leading by changing its policies in order to use blockchain and use its own cryptocurrency. Many other countries (governments) won't like to be left behind and will do the same. That is something we saw before with the internet.

Shasha80

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I am also sure that this year there will be many countries starting to accept bitcoin technology, namely the blockchain, although many
countries will still be maintain its old principles. Because in my opinion if the country does not keep up with technological developments
then the country can be left behind.We can see China as an example, China is a country that hates cryptocurrency. Especially bitcoin,
but now it is policy they change. Without any doubt the Chinese government supports blockchain technology and makes their own crypto
coins. And this will happen to the country others because sooner or later blockchain technology must be used, especially for financial
transactions. order is more transparent and effective.

Rengga Jati

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Really? What is the very good news about crypto that can make the government accept bitcoin technology, I also mean, what government?
The issue about the crypto world and government so far is likely something that cannot find a good deal.
The government, with many concerns, may really consider accepting Bitcoin technology for their country (read: every country has different rate and situation regarding to the bitcoin and crypto technology).

bitmover

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Quote from: USBitcoinServices.Com on January 28, 2020, 04:05:34 PM

It is based on information available on the internet, in case you haven't read enough about the topic, it would be great if you read more about governments interested in using blockchain.

You shouldn't believe everything you read in the internet.

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There are much better blockchain than bitcoin these days, not sure what source of news you reading, if you refer to btc, yes it is slow but not for a long time, LN is here to solve that issue. It might be expensive if a centralized organization will implement their own blockchain, but if they use or support existing ones then they don't have to spend resources owning all nodes, there is where decentralization takes place when individuals run their own blockchain node.

I don't like to discuss about this topic... but I will try to be dry.

First of all, of there is a "better" blockchain, why bitcoin’s is the most valuable one? Think about it.

And no, lightning network has nothing to do with blockchain. It is an off chain solution. Do you know why it is called that? Because it is off the blockchain.

Private blockchains may be a thing in the future, but they are not now and there is no indication that they will be used by governments in a near future.

imstillthebest

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Quote from: ?? on ??

if that really happens, then that is the price of all of us here,

the price for ? supporting and speculating bitcoin ? well hell yeah . this forum also encourage people and those people go outside to encourage others too .

Quote

I think it is very difficult to apply, because every country has different rules, it may be that one country has permitted it, but other countries have not ... !!

that is true . there are strict and there are free country but if im not mistaken , did i hear that all countries have unity before ? i think it was with the world peace something . who knows , what if that can happen again for the sake of accepting bitcoin and making bitcoin a global currency .

Asuspawer09

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Bitcoin Technology is not illegal for most of the countries so it operates in a lot of countries and it is accepted by the government since they are not banning it for most of the countries in the world.

Having this bitcoin technology is actually essential to the government having this bitcoin asset, since it could be an assets for a lot of company that affects the economy of a country.
The thing is the government is not supporting this bitcoin technology since as a currency it is decentralized so the government cannot regulate this currency the market price could increase like what already happened in the market price today a 1 bitcoin already cost us a thousands of thousands of dollars, imagine if 1 dollar has this value. The government might support bitcoin but for sure it will just be a secondary currency and not going to be a countries main currency for sure.

Yaunfitda

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This is one example of government taking advantage of blockchain: https://explorecatena.com/

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Ottawa, Ontario, Canada (August 20, 2018) – Bitaccess is excited to announce that subsequent to the successful launch of its experiment with the Ethereum Blockchain in January 2018, the Government of Canada is now exploring the use of additional blockchain technologies. The National Research Council of Canada, through its Industrial Research Assistance Program (NRC IRAP) is using Bitaccess’ latest product, the Catena Blockchain Suite (https://explorecatena.com) to host its own blockchain explorer on the InterPlanetary File System (IPFS). Through Catena, NRC IRAP is conducting a live trial to explore the use of public blockchains in the transparent administration of government grants and contributions. At this stage, NRC IRAP is using IPFS to host a blockchain explorer application. The explorer application, which is similar to a search engine, allows users to instantly search the Ethereum blockchain for proactively published grants and contribution data (https://nrc-cnrc.explorecatena.com)

https://bitaccess.ca/blog/government-of-canada-ipfs/

As for your argument that bitcoin is gaining popularity, well its pretty obvious. But as what others have pointed us, bitcoin adoption is not equal to blockchain adoption. It doesn't mean that if governments are experimenting on blockchain will mean that they are going to be friendly to bitcoin as well, case in point China.

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