Bitcoin and governments - page 7. | Bitcointalksearch.org

Ewinsane

hero member

Activity: 980

Merit: 523

Quote from: undeadbitcoiner on August 26, 2017, 09:17:03 PM

Quote from: mobnepal on August 26, 2017, 10:04:16 AM

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

Quick Answer government can track Bitcoin Transaction I don't know about anywhere else but we do, If IRS suspect any fraudulent transaction and suspicious money laundering type of transaction IRS can track that which is already started, Its not easy but its not hard to find who is actual owner.

No matter how clever or smart a criminal thinks of himself, he is destined to leave a clue behind. Maybe, it's what we call karma. Universe returns one's act back to him. With time and brutal effort, IRS could have discovered ways of tracking. That's why I have always advised people to do the right act so that you don't need to hide from anyone. No fear of getting caught.

undeadbitcoiner

sr. member

Activity: 896

Merit: 272

Undeadbitcoiner Will not DIE until 1BTC=50K

Quote from: mobnepal on August 26, 2017, 10:04:16 AM

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

Quick Answer government can track Bitcoin Transaction I don't know about anywhere else but we do, If IRS suspect any fraudulent transaction and suspicious money laundering type of transaction IRS can track that which is already started, Its not easy but its not hard to find who is actual owner.

SirgulioB

full member

Activity: 477

Merit: 102

Radix-The Decentralized Finance Protocol

Quote from: Yoandy10 on August 26, 2017, 11:16:29 AM

Quote from: SirgulioB on August 26, 2017, 11:06:17 AM

Quote from: Yoandy10 on August 26, 2017, 10:21:43 AM

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

There are arguably only three crypto currencies - Bitcoin, Bitcoin Cash, and Litecoin. The rest are actually tokens and scamcoins. Anyway, as long as the government regulates it and the laws integrate cryptos, people really won’t be able to create them just at will. I’m sure tokens will be easily created. But regardless, I think it will require some sort of approval process. This is the nature of regulations.

Honestly I dо not see any principle differences between BTC, forks and other altcoins.
And I think that people will be able create their own new cryptocurrency as they wish anyway. This is a matter of trust of a group of people. Which can be very different in size.

Yoandy10

newbie

Activity: 56

Merit: 0

Quote from: SirgulioB on August 26, 2017, 11:06:17 AM

Quote from: Yoandy10 on August 26, 2017, 10:21:43 AM

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

There are arguably only three crypto currencies - Bitcoin, Bitcoin Cash, and Litecoin. The rest are actually tokens and scamcoins. Anyway, as long as the government regulates it and the laws integrate cryptos, people really won’t be able to create them just at will. I’m sure tokens will be easily created. But regardless, I think it will require some sort of approval process. This is the nature of regulations.

esatceza

sr. member

Activity: 385

Merit: 250

www.thegeomadao.com

Quote from: setifien19 on August 26, 2017, 08:38:07 AM

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

I think it affects the government very much when transactions, the flow of money without taxation, it hurt a large amount of property. In addition, the government can not control Bitcoin as well as its account holders. So they do not let Bitcoin officially operate

SirgulioB

full member

Activity: 477

Merit: 102

Radix-The Decentralized Finance Protocol

Quote from: Yoandy10 on August 26, 2017, 10:21:43 AM

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

How? If we can create new cryptocurrencies immediately.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

As for the situation that we have here in our country, bitcoin hasn't affected the economy yet seeing how little attention there is for the crypto plus businesses that accepts bitcoin are non-existent as of yet. The government is open into regulating bitcoin as they have already made a statement that they'll support it provided that exchanges comply with KYC and AML regulations.

nmaryrai

sr. member

Activity: 490

Merit: 250

Hi well, here i just add a little ...
For me personally I strongly agree, tapai for the government seems to be rejecting Crypto, especially for rich or advanced state government, I am sure For rich or developed countries will feel scared if his wealth will be equal to other countries like other countries, be it Used as emergency crypto or common crypto.
that's just an extra from me Wink

orarider

sr. member

Activity: 575

Merit: 250

Quote from: Yoandy10 on August 26, 2017, 10:21:43 AM

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

According to the market trend, governments are intending to accept bitcoin, so I think the bitcoin market will grow strongly in the near future. That's my personal opinion.

johnwest

hero member

Activity: 1106

Merit: 503

BabelFish - FISH Token Sale at Sovryn

Bitcoin is pseudo anonymous and decentralized which no governments will support as they want to control the money over people. Some country's and governments will think of making their own crypto currencies sooner or later.

machinek20

hero member

Activity: 840

Merit: 501

If the government officially adapted bitcoin then there will be a chance that the income tax will be decrease, because all of the transaction is hidden and then if most of the citizen used crypto currencies then the circulation of fiat will be decrease and that can caused inflation, so before government make a move, the government need a lot of preparation and thinking

Yoandy10

newbie

Activity: 56

Merit: 0

Governments are working on regulations that will incorporate cryptocurrencies into their economies. The problem currently is the great volatility in the market - it IS affecting governments. I'm sure within the next 5 years we cryptocurrencies will be regulated.

Vaskiy

legendary

Activity: 2646

Merit: 1106

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: BTCdoaA on August 26, 2017, 10:15:50 AM

Quote from: setifien19 on August 26, 2017, 08:38:07 AM

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

it is not that easy for government to accept cryptocurrencies anytime soon in official way because the idea of crpto against some regulations made by them , at every country government need to control money resources and weapons which is not possible in our worlds .

When we think about the national currency each country has got, it has its control under the hands of government. The same is not possible with the bitcoin, even if the government legalized bitcoin. Also in the past several negative as well positive results have been obtained on legalized usage and different governments have different thinking about the bitcoin adoption.

Reid

hero member

Activity: 2912

Merit: 642

It will take down everything they worked hard for and their grand grand fathers.
Fiat money or let us make USA as an example which is using the USD. It is their history and we know how patriotic every country is. With that, changing their currency is like just demolishing their own patriotism. The paper money tells their heroes or great presidents and should mot be stepped down.

BTCdoaA

hero member

Activity: 910

Merit: 500

Quote from: setifien19 on August 26, 2017, 08:38:07 AM

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

it is not that easy for government to accept cryptocurrencies anytime soon in official way because the idea of crpto against some regulations made by them , at every country government need to control money resources and weapons which is not possible in our worlds .

cryptworld

hero member

Activity: 714

Merit: 503

Governments and big World Banks will make their own coin or something like that. They don't like cryptos because profit isn't going to theirs pockets.

coolcoinz

legendary

Activity: 2618

Merit: 1103

Quote from: malikusama on August 26, 2017, 09:03:52 AM

Government don't want that their people use a decentralized currency with anonymous transactions because government can't keep an eye on the money of public and there will be also tax issues. Many countries have already legalized bitcoin but they regulated it first. Yes they can strongly affect the economy of a country if majority of the people in a country use them.

Bitcoin's transactions aren't anonymous! They only seem to be anonymous, but you can track every single coin and at some point somebody will have to exchange it for fiat or goods. At this point he will become a target if somebody decides to put enough effort into finding him. Cash is more anonymous and almost impossible to track.
Governments are trying to ignore it for now because they don't need it. They have their currency that works and implementing unstable Bitcoin would mean a lot of work.

mobnepal

legendary

Activity: 1218

Merit: 1006

Quick answer to this is because bitcoin transactions can't be monitored or controlled by government authorities and they can't stop money laundering with bitcoin.

But there are lots of other hidden agenda governments/big banks have which can be affected by introduction of bitcoin. Many countries have legalized the use of bitcoin but it is still not accepted as official currency like other fiat.

GreenBits

legendary

Activity: 1148

Merit: 1048

Quote from: setifien19 on August 26, 2017, 08:38:07 AM

Hi btkers , discussion about the relationship between governments and cryptocurrencies.
Why don't governments officialise the use of cryptocurrencies .
Can these cryptocurrencies affect countries economy?

Sweet Jesus yes. Bitcoin is pretty much the literal antithesis of Fiat. Besides the lack of centralization, and it's deflationary nature, the pseudo anon nature is probably the kicker. Bitcoin enables capital flight; no gov wants that. They can't effect the protocol in a meaningful way, and a fair amount of criminality has attached itself to bitcoin because of the aforementioned points. Govs don't really have a reason to like bitcoin, it doesn't really jive for what has been pushed as sound monetary policy up to this point.

But, bitcoin is still a bit undercapitalized as far as subverting a nations fiat. Maybe a teeny, tiny country Wink

osmo

full member

Activity: 392

Merit: 100

I think the government does not authorize crypto probably because crypto is not the same as money and not physical, in fact in many crypto countries still not yet legal unlike money because a country can not regulate the circulation of crypto.

Topic: Bitcoin and governments - page 7. (Read 2460 times)