Topic: Government and Bitcoin - page 12. (Read 5798 times)
The government needs human resources and technology in order to control the blockchain
The structure of bitcoin is of no benefit to the government, they find it difficult to control bitcoin because of it decentralized nature and this gives then concern.
Because cryptocurrency is difficult to settle. Resources and technologies are needed that are not
Because the government is supervising banks
But Bitcoin is an uncontrollable system also most the profits from the money in the banks reach the government but in Bitcoin the benefits come to people.
But Bitcoin is an uncontrollable system also most the profits from the money in the banks reach the government but in Bitcoin the benefits come to people.
I think that many governments understand that bitcoin is great tool for them and better to use it but sometimes they just have no time for it and they banning bitcoin for a while.
government and the bitcoin are always compared, because there is a lot of news that the government is banning bitcoin in some countries. But there are also countries whose governments allow bitcoin in the country.
Maybe the government that banned the bitcoin did not want to risk that bitcoin would disrupt their economy
Maybe the government that banned the bitcoin did not want to risk that bitcoin would disrupt their economy
Most governments are afraid of bitcoin because it poses a threat to their companies, such as banks, and most governments legalize bitcoin by reason of buble.
i dont think government have anything to do with bitcoins
There are many reasons :
1. Transparancy { A lot of the more corrupt governments cannot accept a currency, where every transaction is published openly for EVERYONE to see on the Blockchain }
2. Governments needs to manipulate currencies { Reserve banks determine how stong your currency can be, according to their moneratary policies } The Core Bitcoin protocol is fixed.
3. Anonymity {Most countries does not have the abilities to identify Bitcoin users} and this pose as a threat for security { Terrorism funding and Money Laundering and Crime etc.. }
4. Some governments want to protect the consumers from fraud / theft etc.. { It's not easy to track and retrieve stolen/hacked coins }
5. Other governments just want to protect the value of their own currency. { Money exchange and remittance }
6. Do not forget, that huge fiat financial organizations are backing politicians { Who pay for the election campaigns? }
There you have some of the reasons.
I would like to discuss some of the reasons. Namely about transparency and anonymity. It should be noted that cash has the same qualities. And doubtless, corrupt governments, terrorists and criminals try to use cash. Therefore, I think that the true reasons are somewhat different. 1. Transparancy { A lot of the more corrupt governments cannot accept a currency, where every transaction is published openly for EVERYONE to see on the Blockchain }
2. Governments needs to manipulate currencies { Reserve banks determine how stong your currency can be, according to their moneratary policies } The Core Bitcoin protocol is fixed.
3. Anonymity {Most countries does not have the abilities to identify Bitcoin users} and this pose as a threat for security { Terrorism funding and Money Laundering and Crime etc.. }
4. Some governments want to protect the consumers from fraud / theft etc.. { It's not easy to track and retrieve stolen/hacked coins }
5. Other governments just want to protect the value of their own currency. { Money exchange and remittance }
6. Do not forget, that huge fiat financial organizations are backing politicians { Who pay for the election campaigns? }
There you have some of the reasons.
In my country, government is still silent about bitcoin.
Until now, we had just one official statement from central bank that bitcoin is not money or financial asset and also from tax office, that we should pay capital taxes on the earnings from bitcoin, once we exchange btc funds to fiat money and transfer to bank account.
Until now, we had just one official statement from central bank that bitcoin is not money or financial asset and also from tax office, that we should pay capital taxes on the earnings from bitcoin, once we exchange btc funds to fiat money and transfer to bank account.
Why, until now, government all over the world still doesn't trust bitcoin?
Its hard to accept bitcoin for all especially for government who are against it. Peoples are addict of bitcoin and never ready to accept the ban of bitcoin on their countries and to earn with bitcoin they use proxy and start going against government policy.I my self do the same thing bitcoin is banned in my country and like other i do proxy just to access my all coins. Actually we all want to accept bitcoin but other's only government who don't allow their people to use it. Who's know that's the reason why bitcoin is going down every day.
Governmenst have their own reason why they hate ut and dont want in some country to exist this for but we as want to access this digital currency then taking some good strategy is where we can be able to make bitcoin are may exist for even though government dont want it.
I think they are not fully clear about the concept.
if the Indonesian government does not prohibit. may invest in bitcoin of origin of all risks at its own risk. such as if there is a loss must be on its own and can not report to the authorities (police)even the government has created its own cryiptocurrency to compensate for the cryiptocurrency that existed first .
Why, until now, government all over the world still doesn't trust bitcoin?
Its hard to accept bitcoin for all especially for government who are against it. Peoples are addict of bitcoin and never ready to accept the ban of bitcoin on their countries and to earn with bitcoin they use proxy and start going against government policy.I my self do the same thing bitcoin is banned in my country and like other i do proxy just to access my all coins. Actually we all want to accept bitcoin but other's only government who don't allow their people to use it. Who's know that's the reason why bitcoin is going down every day.
When you have a network system that is directly a possible replacement to the current financial system or will it one day ruin the grip and control you have, would you trust it in the first place? In fact I should change the word to threat to be more precise. Governments generally won't endorse or accept bitcoin for that matter and they will do anything to prevent that from happening.
Every government fears those things which can negatively affect their country economic and financial growth. Bitcoin is digital currency and it is decentralized nature which means its production and distribution doesn't comes under control of government and this thing ultimately affects their country own currency value at international market. Chinese government ban bitcoin because of this above cause. Israel and Bangladesh government ban bitcoin in their country because the crime rate in their country increased due to bitcoin. 
lately there has been a tendency for the government and bitcoin to find a common language, although there are moments in which there are disagreements 
There were two different types of governments, one has understood the need for bitcoin and has a positive approach which has made them adopt it. The second type is the one where the decentralized functioning is mentioned to be a big controversy and stay away from it. Because, they cannot keep it under their own control fearing it might shatter the economy.
I think the main reason is Bitcoin is decentralized which no one can control even Government. that's why who are use Bitcoin government can't track them as a result Government can't get tax from them that's why maybe still Bitcoin ban in many country.
interesting to talk about the existence of bitcoin so often heard how the government's response which until now has not given official permission about the development of bitcoin and this will be a very interesting conversation why because many countries still prohibit the existence of bitcoin unwittingly actually bitcoin greatly help the country's economy but this is very difficult because every country is governed by the government and many state regulations that must be maintained and obeyed 
Why, until now, government all over the world still doesn't trust bitcoin?
the government still does not trust bitcoin because of the untraceable transactions of who sent and those receiving bitcoins. unknowable transactions that make governments do not believe in bitcoin because criminals can use bitcoins to buy things like dangerous weapons, buying drugs and money laundering.
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