Goverments to go AGAINST Bitcoin - page 11.

e-coinomist

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Quote from: Stef9292 on November 25, 2017, 08:55:06 AM

Probably government already tried to stop bitcoin but not with good result. The close of mtgox and btce was kinda strange, what you think about it?

They had been related. Somebody copied the wallet.dat from Mt.Gox and washed the money through BTCe. Karpele's site going down had not been government interaction. Insolvency beeing insolvency.

Back on toppic, as Coindesk cited Choe Heung-sik (FSS South Korea, chief of the Financial Supervisory Service):
not exactly looking like someone beeing against bitcoin

Quote

"Though we are monitoring the practice of cryptocurrency trading, we don't have plans right now to directly supervise exchanges. Supervision will come only after the legal recognition of digital tokens as a legitimate currency."

lasry

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Most Governments (and banks) will be against bitcoin because it SCARES them. Because cryptocurrencies are off limits to them and wont be regulated by them in any means. Going to the fact that bitcoin will soon change the future it is intriguing how the banks are attempting hard to ban bitcoin. Since then bitcoin offers an alternative and easier way compared to banking processes it is then (maybe) the absolute reason why people in the government and banks are very wary of it.
But always put in mind that it is highly unstable and is really a big BUBBLE which may pop out in mid-air anytime. Well, who knows.

LogitechMouse

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Maybe some governments are against bitcoin so their way of showing that the government is against it is banning bitcoin in their country. Because they can't control it and can't track the transactions, they believe that bitcoin will be a threat in their country so they are banning it. I think that is their way of showing that they are against bitcoin.

laravuemaster

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I think that government will have a huge problem when they banned bitcoins in their country because there are a lot investors that are already in this industry and if this will be going to shut down by the government then this people will turn to government and it will be a huge problem for them.

Stef9292

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Probably government already tried to stop bitcoin but not with good result. The close of mtgox and btce was kinda strange, what you think about it?

audrey12

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Some governments already did this in fact there are certain countries where bitcoin transaction is prohibited it is because they saw the negative impact of bitcoin which was somehow use in illegal transactions. This is something we should fear of because if more people will be caught doing illegal stuff using bitcoin chances are it can permanently banned all over the world

s31joemhar

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The government is the one who set standards and regulates the important aspects of the country. The main duty and responsibility of the government is to provide the people basic ways and means to survive. The government always makes decision and actions in accordance of the law. Which is their main goal is to provide what is best for their fellowmen. The government is not against in the concept of cryptocurrency in their country. In fact they grab the opportunity to go with the flow of modernization. Some countries cannot afford to deal with bitcoin ;not just because of they think it’s illegal but they know that their country is not yet capable for that opportunity. Many countries are not yet ready because they are civilized and lack of knowledge about the technology. Through this they cannot easily adopt the concept of electronic banking. The company and the people will suffer at the end, so that the government provide a law to protect the interest of each other.

DoublerHunter

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I think that bitcoin are not totally against bitcoin because if they are against bitcoin then we can see the banning process of different governments for bitcoin because they are against bitcoin but until now we cannot see any of those but for just some few countries and that is a good sign that they are just waiting for the right time to fully use bitcoin and its technology.

jerlen17

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On my opinion into this, i think some countries against to bitcoin because they can't force the investor to give tax from their profit. But in my country bitcoin is accepted and they dont care if they dont get any tax from it.

lamugo09

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Yeah many countries are against the bitcoin since taxation on country is lost and money doesn't revolve through banks which is what will bug down a country's economic status.

GXHPP

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They might prohibit BTC in some countries in which they is no system to speak of (where the president and officials can do whatever they want with no legislative restrictions) mainly because of the possibility of exchanging their currency and BTC directly, possibly lowering it's value.

ASHLIUSZ

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Already this has been taking place in some countries, but majority of the governments show neutral response to the cryptocurrency and bitcoin in specific. Few governments tend to make it an regulated asset, so that it is possible to tax it and government feel benefited like other forms of properties, stocks, gold trade that is taxable.

DARKANGEL6415

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Quote from: rudox on November 24, 2017, 01:37:08 PM

Government will definitely fight Bicoin because of the decentralized nature of Bitcoin. Anything that the government will not control they will fight against it. Government are losing taxes in all the transaction that involves bitcoin and they do not like it.

Well i habe to say i agree with you on this statement to some degree. Governments will always try to control what they don't know or understand. Now i don't know about other countries but in the USA i know the internal revenue service has been taxing people on bitcoin for like 4 years.

lvincent

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Some government act against bitcoin like banned it or something i think they're just scared because they can see the potential of bitcoin but some government see it's potential and use it instead. I think the government that use and see the potential of bitcoin will gonna have a brighter future than those who goes against it.

xBitHodler

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There have been already quite a few governments who decided to ban Bitcoin. The most recent example is China which doesn't allow you to trade Bitcoin there. The rest of the countries are small ones with big economical problems. People from those countries started to invest in Bitcoin because its value is constantly growing unlike their national currency.

figmentofmyass

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Quote from: GeorgeEden on November 24, 2017, 01:09:25 PM

Is there any chance goverments to go against bitcoin if they see its something against them??

of course. for example, vietnam's central bank announced last month that cryptocurrencies are not a "lawful means of payment." they also said that the "issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited."

it sounds like they've made it a criminal offence. i expect to see similar actions taken elsewhere, particularly by smaller and/or more autocratic governments. i heard rumors recently that morocco's government is planning a similar ban.

Quote from: ?? on ??

Honestly, the U.S. government is already going against it.

how so? the CFTC just formally allowed ledgerX to register as a BTC swap execution facility. and fully regulated CME futures markets are expected to open next month.

if the US government were moving against bitcoin, why would they be approving new, regulated markets for bitcoin speculation?

Hakkerman101

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There are countries that consider the crypto currency to be illegal and try to prohibit or restrict its use (Bangladesh, Bolivia, China, Ecuador, Iceland, Indonesia, Kyrgyzstan, Lebanon, Russia, Thailand, Vietnam, etc.)

As the crypto currency is spreading, governments around the world are wondering whether it is worth developing a legal framework to actively introduce digital currency into the economy. But for the time being, some countries have not agreed to give a chance to bitcoin, since they can not apply existing laws to their regulation, which depend on the definition of the concept of crypto currency in each individual country. Others preferred to prohibit bitcoin, and some even tried to create a bill for this purpose. In any case, it will be quite difficult to eradicate the crypto currency, because of its decentralization. So, of course, people have enough time to feel all the benefits of digital money, even if the legal status of bitcoin remains uncertain.

jhoesuahubilla

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Quote from: GeorgeEden on November 24, 2017, 01:09:25 PM

Is there any chance goverments to go against bitcoin if they see its something against them??

There are some countries in the world that already banned bitcoin in their place. There are also some countries that legalize it. The government has the power whether to ban or to legalize it in their country. But those countries who legalize bitcoin, have a better and more developed economy.

Domenc

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I think nothing new in this, things like this have happened in the past. For example, countries where Bitcoin is declared illegal, saw Bitcoin as a potential to illegal activities and thought it may harm the economy of the country and declared ban on it. Government are the main power holders of country and if things go against them they will surely take every possible step to eradicate the problem, whether it is for benefit of citizens or not. They first look at their own benefits.

GeorgeEden

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Patience and knowledge are gold.

Quote from: g4vinshreds on November 24, 2017, 05:48:28 PM

There's a chance of course, but most governments probably don't honestly care as long as they can collect whatever taxes they want when bitcoin/altcoins are transferred to fiat. At the worst, I feel that they might try to somehow tax bitcoins/altcoins.

I guess taxes is the answer , thats the common solution i see also.

Topic: Goverments to go AGAINST Bitcoin - page 11. (Read 3207 times)