I hope in the near future the government will have a more positive view on the bitcoin, trusting and creating momentum for bitcoin development.
Topic: Government and Bitcoin - page 23. (Read 5799 times)
Why, until now, government all over the world still doesn't trust bitcoin?
Some government of different countries don't trust bitcoin but not all. Japan and some european contries support bitcoin.Bitcoin is still young and blooming. Let's just wait for them to understand it.
I will advise for all government to go for Bitcoin it help in future
Because bitcoin can not be controlled, it does not lend itself to state manipulation, even though it is influenced by the general policy of the countries. Bitcoin is able to destroy any state currency - in my opinion this is a strong reason not to trust this system
Governments fear of bitcoin which is the major thing leading to the increased regulation of bitcoin and other cryptocurrencies. This won't change in the short term, because governments fear that their economy might get affected due to usage of bitcoin. If each and every government give support similar to that of Japan surely now it could have reached above $30000 by now.
Bitcoin is still a new to most parts of the world so many do not have a clear understanding about bitcoin. That is one of the main reasons for this. Also govenments cannot control bit coin as easy as regular money.
Right now we are all on the way to digitalization. The first step to go is how the government can support the current development of Bitcoin.
When the government can support then we will all be able to feel that the era of cryptocurrency will get better.
The government is still reluctant to acknowledge and now everyone should keep trying to keep the government recognizing the circulation of digital currency.
When the government can support then we will all be able to feel that the era of cryptocurrency will get better.
The government is still reluctant to acknowledge and now everyone should keep trying to keep the government recognizing the circulation of digital currency.
Because it's still new. And actually a solid percentage of bitcoin users still don't 'trust' bitcoin.
The government will not win if their people start using crypto currency. The government can no longer manage our finances, it will lose control over us. All for a long time already know, that in our material world, unfortunately, everything is solved by money.
Why, until now, government all over the world still doesn't trust bitcoin?
different countries are beginning to change their minds about the crypto market! only recently was the G20, and a lot of topics were on the discussion about the crypto market! G20 even forced southern Korea to reduce sanctions against the crypto world and ICO! legalization is going on, slowly but happening! I'm sure that soon bitcoin will be a payment system on a level with the dollar!
Government don't have the power to control bitcoin now. Now a days in many countries government giving permission to invest in digital market. Bitcoin is now legalized in many countries. When ever government aprives bitcoin it will help to the main economy of the government.
because bitcoin and other crypto currencies severely undermine the stability and necessity of banking structures, which is why banks can not take huge commissions for remittances. through blockchain technology, you can bypass unnecessary bank charges and transfer money between people through smart contracts. faster, safer and cheaper.
In the meantime, the next round of the struggle against currency and government came from the side of the cryptocurrency exchange Bitfinex. They has announced that the company is required to share customer data with the British Virgin Islands’ (BVI) government, a move that has been a hot topic of debate on social media.
Pursuant to the laws in place in the BVI, Bitfinex is required to report a “certain account information” to the BVI government, something that was always the case, but likely not enforced until now. As the announcement states:
“The government of the BVI may then exchange that information with the tax authorities of the customer’s country of residence.” Bitfinex
As the announcement states, this is consistent with the U.S. Foreign Account Tax Compliant Act (FACTA). It’s possible that pressure from increasingly more organized U.S. regulators is behind the announcement, which Bitfinex likely wouldn’t have opted for voluntarily taking into account the predictable community backlash, which has been swift and strongly worded.
Hundreds of people liked the idea of a protest and boycott on that tweet alone, and similar sentiments have been echoed throughout libertarian elements of the community who have turned to crypto as a means of governing themselves and their own finances.
To many, this is an ideological issue, and the ramifications may well reach beyond the Bitfinex incident and serve to stir up debate among the diverse community of enthusiasts, investors, and anarchists among other factions about what purpose cryptocurrencies are destined to serve.
Users have until May 24. 2018 to comply by submitting the stated documents (FACTA self-certification form in the case of U.S. citizens). Bitfinex ended the announcement with a reminder that users had technically already agreed by signing up to comply with laws and regulations such as this one.
Source: https://www.cryptoglobe.com/latest/2018/05/bitfinex-asks-customers-for-tax-data-which-can-be-shared-with-local-tax-authorities/
Pursuant to the laws in place in the BVI, Bitfinex is required to report a “certain account information” to the BVI government, something that was always the case, but likely not enforced until now. As the announcement states:
“The government of the BVI may then exchange that information with the tax authorities of the customer’s country of residence.” Bitfinex
As the announcement states, this is consistent with the U.S. Foreign Account Tax Compliant Act (FACTA). It’s possible that pressure from increasingly more organized U.S. regulators is behind the announcement, which Bitfinex likely wouldn’t have opted for voluntarily taking into account the predictable community backlash, which has been swift and strongly worded.
Hundreds of people liked the idea of a protest and boycott on that tweet alone, and similar sentiments have been echoed throughout libertarian elements of the community who have turned to crypto as a means of governing themselves and their own finances.
To many, this is an ideological issue, and the ramifications may well reach beyond the Bitfinex incident and serve to stir up debate among the diverse community of enthusiasts, investors, and anarchists among other factions about what purpose cryptocurrencies are destined to serve.
Users have until May 24. 2018 to comply by submitting the stated documents (FACTA self-certification form in the case of U.S. citizens). Bitfinex ended the announcement with a reminder that users had technically already agreed by signing up to comply with laws and regulations such as this one.
Source: https://www.cryptoglobe.com/latest/2018/05/bitfinex-asks-customers-for-tax-data-which-can-be-shared-with-local-tax-authorities/
Why, until now, government all over the world still doesn't trust bitcoin?
Banks are used to controlling and letting all financial flows through themselves and this is all under the control of the state.The loss of such profits and control from banks, of course, will cause bitcoin rejection. This is a war for the sphere of influence.
It seems that government fear bitcoin because of the lack of understanding and knowladge, due to this some countries are accepting it too
The government does not believe that it is not important. People who buy Bitcoin believe that it is OK.
Hey
I know that governments are always bringing up the fears of the use of Crypto such as not being able to track who is making transactions or what is being bought with some Cryptos such as BTC around the world. Wouldn't initiatives such as governments offering coin users rewards for valuable information on who are the people involved in criminal activities which are funded by BTC or other Cryptos?
The problem of them not being able to make their own unjustifiable profits from transaction fees etc is a hurdle that they'll have to get over as Crypto exchange across the world gets bigger.
In the eventual showdown between Government and Crypto, which one will come out on top of the other or can they somehow learn to coexist?
I know that governments are always bringing up the fears of the use of Crypto such as not being able to track who is making transactions or what is being bought with some Cryptos such as BTC around the world. Wouldn't initiatives such as governments offering coin users rewards for valuable information on who are the people involved in criminal activities which are funded by BTC or other Cryptos?
The problem of them not being able to make their own unjustifiable profits from transaction fees etc is a hurdle that they'll have to get over as Crypto exchange across the world gets bigger.
In the eventual showdown between Government and Crypto, which one will come out on top of the other or can they somehow learn to coexist?
Why, until now, government all over the world still doesn't trust bitcoin?
The government should accepts or legalize bitcoin. Because it is crypto currency, the future technology. The reason why the government all over the world still doesnot trust bitcoin, because the government cannot controll bitcoin over.
Why, until now, government all over the world still doesn't trust bitcoin?
I think our government didn't trust bitcoin because they believe that there's a chance that bitcoin can replace our real money or can make our bank disappear. Others said that government will accept only bitcoin when it's have a tax because they said that they wanted to put a tax on it.
many counrtries government are try to crash the bitcoin market specially intellignce companies because its effect the currency of governmnet or market value .i dnt think so it can be easy to shut the bitcoin market because many government officers or business man are involved in it.
Government can't control bitcoin like bank.But many country government accept bitcoin.
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