Government and Bitcoin - page 19. | Bitcointalksearch.org

TheGOLDskull

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

Government may or may not trust Bitcoin bt it certainly will not be able to ignore Bitcoin completely as of now.
Since its adoption rate is increasing per year.
They will sooner or later try to control it as far as possible!

deathland113

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manipulation is being focused on.. which i thihk is really great casue its the main reason retailers cant grow imo

Liona88

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The government does not want any currency that can not be controlled therefore they banned bitcoin.

abhi777

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

because the value of bitcoin is very large and can be accessed by anyone easily to gain profit, and maybe the government is afraid and do not believe in bitcoin because it is very easy to happen crime results and as a money laundering

demonist

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The government will be beneficial to recognize bitcoin only if they can directly influence it or have interest taxes on each transaction with bitcoin in their territory.

1DC

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

First reason is the scams that still circulating in the market . I think it is the main reason why the government has a trust issue in cryptocurrency and as we all know bitcoin or every coin in the market has a complex process so the government doesn't have enough idea on how to regulate it to become a official currency in the whole world.

boy130

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Bitcoin is likely being backed by governments around the world, or at the very least blockchain technology, and facts show this. With many modernised countries like Canada and Australia making bitcoin legal, though not yet as legal tender. I think that bitcoin is simply a digital-currency and its purpose is to be used to purchase goods and services, safely without any powerful governments or banks getting on your back about what you are buying. But that doesn't mean they haven't managed to weasel in some influence

97percent

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☀️ Iskra Coin ☀️

I think the government is actually amazed at the blockchain system that is in bitcoin and actually the blockchain system is very useful if applied to various aspects of government. But somehow the government has not yet believed in bitcoin (which is actually the result of the blockchain system), perhaps because bitcoin can not be controlled by anyone including the government, so the government is worried that bitcoin will disrupt the existing system of government.

nara1892

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because Banks/government are likely "afraid" of bitcoin and blockchain
"The concerns are about the fractional reserve banking system, and the balance sheet of the Federal Reserve at $4.5 trillion, where the Fed officially refuses an audit," "On the other hand, on the bitcoin blockchain, you have an audit everyday because it's open-sourced."

shakil77

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it is a peer-to-peer payment network that is powered by its users with no central authority or u can say middlemen

That lack of central authority is the primary reason governments does not trust in bitcoin and it is new in market and not that much stable Cry

Karakyli

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The ratio of different states to the crypto currency is significantly different. If in the developed countries of Europe and America there is a tendency to every possible support of a new means of payment, in other countries, on the contrary, restrictive measures are taken with the prospect of further banning of the crypto currency. According to the service coin.dance, in 77 of the 246 countries bitcoin is absolutely legal, and therefore has no restrictions in use. Some governments (China, USA, France, India, Sweden, Turkey, Australia) recognize bitcoin as a commodity; in Poland and Brazil it is defined as property; in Argentina, Nigeria and the Philippines - as money, and in countries such as Bangladesh, Bolivia, Colombia, Ecuador, it is prohibited.
In general, we can note a positive trend towards the governments of the countries to the crypto currency, and therefore soon we can expect a further growth in demand for bitcoin, and hence the growth of its price, the emergence of new services, etc.

fileo

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Rangers Protocol

Why not trusting bitcoin if they know bitcoin is not a human that can feel the way we feel something. It doesn't have any sympathy to everybody that will grab it. So I think the government just do their best to prevent whatsoever that they think it will harm the country. However there are government in some part that adopt bitcoin and use the system. Of course they don't trust it but what they trust is the future within bitcoin core system.

Elrozaq

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

I think the government doubt to acceptbor legalize bitcoin, because they cannot control bitcoin over. The afraid the bitcoin will be used illegal activities.

Gragal

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if the government of Indonesia in one's job with the bitcoin forum is very difficult, because the government strictly prohibits the work in bitcoin, but if in japanese bitcoin and the government can be in one right.

dubinsky

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I think the government might be afraid of being betrayed by bitcoin then by blatantly refusing and banning bitcoin but the government actually admire bitcoin. just look at the initial appearance of bitcoin, which government supports bitcoin? The more bitcoin the more the radiant charm, therefore there are some countries that have legalized bitcoin (Japan and South Korea). Others just need to approach to better understand bitcoin, just a matter of time.

gudjhonson

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

I think there are already some governments who already trust Bitcoin and I'm sure someday there will be more governments who believe in Bitcoin. Many governments do not believe in Bitcoin for fear of Bitcoin having a devastating impact on the people who use it. Bitcoin can be used for things that are illegal and this is the most feared by the government. So it is only natural that many governments do not trust Bitcoin.

Jundel2018

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Quote from: Elkafi on May 24, 2018, 10:40:16 PM

Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

The reason why the government all over the word still doesnt trust bitcoin, because The government cannot controll the bitcoin over. I think The government should accept bitcoin and legalize it.

Maybe the reason why the government cant accept bitcoin is that bitcoin is decentralized which means government cannot control it. Also bitcoin doesnt pay any taxes and also it is new and that stable thats why the government still didnt accept the bitcoin.

Elkafi

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Quote from: bitcoinpiece on April 23, 2015, 12:37:45 AM

Why, until now, government all over the world still doesn't trust bitcoin?

The reason why the government all over the word still doesnt trust bitcoin, because The government cannot controll the bitcoin over. I think The government should accept bitcoin and legalize it.

glongsword

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Distrust of bitcoin is caused by unstable price, besides bitcoin also has advantages and disadvantages, corruption, terrorism, drugs and so on!

reverseflash

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Because the bitcoin can't be controlled by standard methods. The bureaucracy never wants to introduce modern and simpler rules, пocкoлькo it kills an essence of bureaucracy.

Topic: Government and Bitcoin - page 19. (Read 5798 times)