Topic: Government and Bitcoin - page 24. (Read 5782 times)
The government in my country does not accept Bitcoin in the market legally, many are participating in discussions on many forums looking for ways to overcome.
Basically, government are not benefiting from Bitcoin that's why they don't like it. Anything that isn't approved by the government wont be supported by the government. Most government don't like Bitcoin or its operations because they don't know how it came about, they haven't found a way to enact strict laws and how to make people pay tax.
Currently many countries in the world do not have enough legal and legal corridors to manage bitcoin so the government also banned, circulated
It would be great if government and bitcoin will work as one, it will be more easy to us to pay transactions and will be cheaper, we will be independent in foe some payment because we do not need third party or person to do the transactions. It would be a better and brighter future for us if this would happen.
I think Japan is setting an example in every way on how countries should appreciate cryptocurrencies in its legal framework. In times when most of the policymakers are skeptical about the potential of cryptocurrency and some even considering it as a threat, Japan with all its swag is embracing cryptocurrencies wholeheartedly and Yahoo setting up a cryptocurrency exchange is just another example of that.
If the government and bitcoin synergize then it can be certain that can overcome various problems mainly is a transaction problem so that it becomes faster and cheaper, I am sure that bitcoin is the future of global transactions.
We all know that there are countries that banned this bitcoin for its price rises every now and then. Rising of bitcoin currency leads to an imbalance economy of every country. In line with this, government must take action regarding this matter. If this bitcoin currency make it to the top, other investors will not invest in companies anymore, no more investments in small franchise that will lead to an imbalance economy. People will invest more in bitcoin, who would not invest if money here is easy and convenient.
I do not know exactly but not all governments forbid to use bitcoin, even according to the issue there is also a government that buys bitcoin for assets.
Because there are so many loopholes in the working of Bitcoin which is preventing the government from trusting it. The anonymous nature of cryptocurrencies enables it to be used for illegal purposes like purchase and sale of prohibited weapons or drugs. Although virtual currencies reduce the chances of money laundering activities, it is proving more useful for cybercrimes. A report published by the UK Treasury on monetary policy says that virtual or digital currencies can facilitate methodologies of “crime-as-a-service” and provide a platform for laundering advances of cybercrimes which can increase the chances of crime.
Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence.
Control over currency has many downstream impacts, perhaps most notably to a nation’s fiscal policy, business environment, and efforts to control crime
Control over currency has many downstream impacts, perhaps most notably to a nation’s fiscal policy, business environment, and efforts to control crime
some of them have no idea what bitcoin is and what are the benefits of blockchain technology is and some of them fully understand what it is and what are the demerits of this technology ( like money laundering)
Some government has its own reason why they still dont trust bitcoin.Bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin.In the near future many countries will legalize bitcoin because it is one means of generating revenue and taxes.
They can regulate it, all of the government have the power to regulate bitcoin because they just need to create a law that will describe all of the things that the people or the bitcoin user should follow in order to stay safe and not to get arrested because most of the countries and government are regulating bitcoin like that so it is a best option to just regulate it and accept it. Why, until now, government all over the world still doesn't trust bitcoin?
I think why government still doesn't trust bitcoin is because until now they can't control bitcoin and they are thinking bitcoin is illegal and also they don't understand how to use it.
Governments should seriously consider legalizing cryptocurrencies as methods of payment in order to encourage their wider use for transactions, increased security and ultimately, recognition at a universal level. It is vital that the government adapts to the signs of the times.
It's very difficult for any govrnment to control bicoin so they used to ban it. I can't get any reason to ban currency that can be helpful for citizens and countries economy.
Some government has its own reason why they still dont trust bitcoin.Bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin.In the near future many countries will legalize bitcoin because it is one means of generating revenue and taxes.
Bitcoin will gave us money that helps us to our need and for our family but government is not agree to bitcoin they dont have bitcoin some country banned bitcoin because they afraid that they can't control proliferation of user in bitcoin.
Yes there some news read that some countries legalised bitcoin but mostly still not take interest or any type of control to bitcoin the realtive department have to see it, both of them has to come close on this lets see what happens about it.
Because it's still new. And actually a solid percentage of bitcoin users still don't 'trust' bitcoin.
its new and there is no central bank to control it. Im afraid if crypto really become our world wide curremcy it would make economy really bad. Just think about how goverment would helping poor people , goverment would not be able to adjust the price anymore, maybe they can by making rules for it but still the money is world wide i believe no one could interven it anymore and goverment power will be reduced.
I my point of view Bitcoin is a decentralized platform So No one can authority to conrtol the power of Bitcoin
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