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Topic: Goverments to go AGAINST Bitcoin - page 7. (Read 3210 times)

member
Activity: 64
Merit: 10
November 28, 2017, 10:50:30 PM
Yes. Bitcoin is widely used in black markets that sells drugs and other illegal products. Bitcoin can also be a threat to the economy if a large volume of bitcoin is inside the country and the price fluctuates to a lower price or it may kill the currency of a country

Is this even still true nowadays? We have fully anonymous cryptocurrencies now which are also traded by exchanges, such as Monero. With all eyes on bitcoin at the moment, would it not be better for criminals to use those if they want to get away with illegal activities?
Because government considering loss of  taxation
sr. member
Activity: 385
Merit: 250
November 28, 2017, 09:26:06 AM
Yes. Bitcoin is widely used in black markets that sells drugs and other illegal products. Bitcoin can also be a threat to the economy if a large volume of bitcoin is inside the country and the price fluctuates to a lower price or it may kill the currency of a country

Is this even still true nowadays? We have fully anonymous cryptocurrencies now which are also traded by exchanges, such as Monero. With all eyes on bitcoin at the moment, would it not be better for criminals to use those if they want to get away with illegal activities?
member
Activity: 126
Merit: 10
Patience and knowledge are gold.
November 28, 2017, 09:08:04 AM
Is there any chance goverments to go against bitcoin if they see its something against them??

That would not happen I guess because soem countries even legalised bitcoin.  Even here in my country even if I did not hear that it was declared legal, we knew that it is okay and legal to use bitcoin.  It is all because we can buy and sell our bitcoins through banks.  Pay our bills and even our contributions to government services.  So I do not think that government will go against it.

Yeah but let me give you an example . What if the goverment loses 1 bilion cuz ppl exchange money for bitcoin and they use their bitcoin for buys outside of the country? That will upset the goverment wouldnt?
hero member
Activity: 679
Merit: 500
November 28, 2017, 08:06:11 AM
Is there any chance goverments to go against bitcoin if they see its something against them??

That would not happen I guess because soem countries even legalised bitcoin.  Even here in my country even if I did not hear that it was declared legal, we knew that it is okay and legal to use bitcoin.  It is all because we can buy and sell our bitcoins through banks.  Pay our bills and even our contributions to government services.  So I do not think that government will go against it.
full member
Activity: 238
Merit: 100
November 28, 2017, 08:05:18 AM
Is there any chance goverments to go against bitcoin if they see its something against them??

There is a possibility that government will against with bitcoin because they will not going to control just like fiat. That's why still they are not accepted bitcoin as a means of payment. So I am wishing that soon my government will accepted bitcoin.
full member
Activity: 532
Merit: 101
November 28, 2017, 08:03:24 AM
i DONT  think that government will stop bitcoin , well here in my country ( Philippines) are now issuing  at SEC and BSPP a license and to protect bitcoin usuers .
they will give bitcoin legality to protect the people of the country having thiis kind of opportunity.
full member
Activity: 340
Merit: 122
November 28, 2017, 08:02:36 AM
I believe that bitcoin doesn't give any troubles to the government, only a chances that this coin could be used for any criminal activities without any traces of information's left because of anonymous identity. Though this thing will be possible to happen, but maybe it is important also that the government will recognized this as it helps their people to improve their living. Not only by blaming this as a cause of economic loss and increase criminal activities.
but majority of the governments show neutral response to the cryptocurrency and bitcoin in specific.
legendary
Activity: 1288
Merit: 1043
:^)
November 28, 2017, 08:00:38 AM
Most likely yes! The government will not support bitcoin directly because it is against their centralized policy. The government wants to control every kind of money circulation in their country.
a government isnt inherently centralized in their policies, unless the government is authoritarian. taking a democratic government as an example (the us government in this case, as that is the one i'm most familiar with), idealistically, the government should be making its policies to serve the interests of the constituents, not itself or its legislators. however, the congressmen / women of the us government are corrupt pretty often (usually the republicans) and make policies and cast votes that tend to favor either themselves or their donors that essentially control them.

The government is likely to oppose bit coin.Bit coin can easily be sent easily without anyone knowing the highest amount.But the identity of the sender and the identity of the receiver is hidden.This can easily cover the amount of black money. Can be used for illegal acts.Bit coin value is very high, so if the bit coin comes into use it will decrease the value of many countries.
and that's something unique to bitcoin how? exactly, its not. i can hand someone a suitcase full of bills and no one else would know. and in this instance, it would be even more anonymous than bitcoin, because there isnt a public ledger anyone can search to find the sender and recipient. the money can just as easily used for illegal purposes.
full member
Activity: 386
Merit: 100
November 28, 2017, 07:35:47 AM
Is there any chance goverments to go against bitcoin if they see its something against them??
At first when bitcoin was released, when it was only used by a couple of people bitcoin did not prove to be a problem for goverments so thye ddin't pay attention to it, a few years later it started gaining more popularity and had its price going up, they just ignored it because econnemist thought that it is just a buble and soon it will drop down, but now with so many people using it and earning thaousands of dollars from its rise, they are faced with tow options either they accept it as a payment method or ban it and piss of a lot of people, either way they are unable to controll it or prevent the users from trading with it because bitcoin is uncontrolled by any one and it provieds complete discreat for the ones who use it, so the point is it does not matter wether goverments ban it or not people are still going to use it, accepting it will make it more popular, and banning it will not affect its users very much.
Taxes are the most important part that lead to the development and governments are not that much against bitcoin they just have some of concerns on it and as they will understand about these than there will be nothing to contradict as anonymity is concern and tax collection is bit difficult to in bitcoin but if the region completely will accept bitcoin then these concerns will be clarified easily to give ease to people.
newbie
Activity: 56
Merit: 0
November 28, 2017, 01:15:57 AM
if Bitcoin has negative impact on government then definitely Government go against Bitcoin
member
Activity: 266
Merit: 10
November 28, 2017, 01:11:52 AM
The government is likely to oppose bit coin.Bit coin can easily be sent easily without anyone knowing the highest amount.But the identity of the sender and the identity of the receiver is hidden.This can easily cover the amount of black money. Can be used for illegal acts.Bit coin value is very high, so if the bit coin comes into use it will decrease the value of many countries.
full member
Activity: 686
Merit: 107
November 28, 2017, 12:56:55 AM
Yes. Bitcoin is widely used in black markets that sells drugs and other illegal products. Bitcoin can also be a threat to the economy if a large volume of bitcoin is inside the country and the price fluctuates to a lower price or it may kill the currency of a country
hero member
Activity: 2828
Merit: 518
November 28, 2017, 12:51:54 AM
I believe that bitcoin doesn't give any troubles to the government, only a chances that this coin could be used for any criminal activities without any traces of information's left because of anonymous identity. Though this thing will be possible to happen, but maybe it is important also that the government will recognized this as it helps their people to improve their living. Not only by blaming this as a cause of economic loss and increase criminal activities.
full member
Activity: 504
Merit: 102
November 28, 2017, 12:43:42 AM
Is there any chance goverments to go against bitcoin if they see its something against them??

Either the government will be against it or not, there will be no stopping cryptocurrencies to be adopted of many people around the globe. The only thingt that could stop is only ourselves.
full member
Activity: 266
Merit: 101
The Experience Layer of the Decentralized Internet
November 28, 2017, 12:25:56 AM
Government against bitcoin and bitcoin against government? It looks like you are overstating it

Most countries doesnt support it because they dont really know the way bitcoin works and the most important thing is they cant control it
full member
Activity: 364
Merit: 100
November 28, 2017, 12:06:30 AM
I think the government is against bitcoin because they are having trouble collecting income taxes earned from bitcoin players. so they try to get taxes from the bitcoiners or it becomes illegal. if only there was an input tax from bitcoin income then most likely the government will protect the existence of bitcoin.
full member
Activity: 504
Merit: 100
November 28, 2017, 12:04:26 AM
Is there any chance goverments to go against bitcoin if they see its something against them??

I believe the government cannot hold bitcoins because it will defeat it basic purpose and best feature of them all, its decentralization. Plus, the government csnnot fully hold bitcoins because it's too great too handle. Many of the crypto investors might actually switch to alt coins if this happens.
newbie
Activity: 19
Merit: 0
November 27, 2017, 11:57:58 PM
Government can not fight bitcoin. They can only rule out the purpose of controlling it. But bitcoin is very difficult to control. If the government does not do this. The power is not in their hands
member
Activity: 154
Merit: 11
November 27, 2017, 11:55:13 PM
maybe not. Bitcoin is money and i don't think they will go against money. It will actually a big help to actually earn and add it to national fund to support projects. I think they'd be more of involved, than resist.
full member
Activity: 182
Merit: 100
November 27, 2017, 11:52:41 PM
Some countries governments may go AGAINST Bitcoin considering the loss of taxation, threat to the governance loosing hold on the country.
May be criminal activities using bitcoins can not be detected due to decentralisation and a law and order of the countries can be affected.
Since every technology has pros and cons like that way different countries may face different challenges to make it legal so can go against it.

So if a goverment goes against bitcoin in a specific play and some1 uses it that means he might face the justice right?
the government against bitcoin I think it is too much for a country that has a democratic system of government in some countries that has banned bitcoin but only in communist countries alone because the communist state strictly regulates its nation's economy so many policies are killing people's economic creativity. It is true there is news that bitcoin is used for crime, but we can see also that many people benefit from bitcoin so that all this technological advancement depends on the user not the technology.
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