Government and Bitcoin - page 5. | Bitcointalksearch.org

Revprojects

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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?

Hey, it's now 2018 and things have changed! Bitcoin is trusted, and governments recognize him in different countries. For example in Japan, Germany and Switzerland and a number of others.

Tashi

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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?

Up until now, the government sees Bitcoin as a threat to representative money. Also, it’s volatile which makes people to untrust it because it’s risky.

Blackwhite69

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Quote from: Ayaancool on May 31, 2018, 10:03:50 AM

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

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

It is the peer-to -peer payment network that is powered by its users. There is no middlemen.And also there is no central authority.Lack of central authority is the primary reason governments are afraid of the crypto currency. Thus government are not ready to accept and trust bitcoin.

Some of the problems that arise if the state accepts the Bitcoin because they have different ideas.

Ayaancool

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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?

It is the peer-to -peer payment network that is powered by its users. There is no middlemen.And also there is no central authority.Lack of central authority is the primary reason governments are afraid of the crypto currency. Thus government are not ready to accept and trust bitcoin.

serverus

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Well for me, 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.

paulo29

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Well, it is because cryptocurrencies are still new and no all knows about it, some government does not have a concrete information about it, besides it does not have physical form that makes difficult for them to controlled it.

dongyi17

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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, because government cant control bitcoin until now, so many government not accept bitcoin as currency in their country. Maybe government accept and trust bitcoin if they know how bitcoin work in blockchain and coordinate people who create bitcoin but i know this is impossible, hopefully in the future government accept bitcoin and become legal as currency of one country.

Kildin11

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After so long appearance of bitcoin appearance for the first time, there are already some countries that legalize bitokoyn. But in fact, many countries do not trust and legalize bitokoyn. In my country, the government considers the digital currency to be risky because of the absence of regulators or administrators regulating the digital currency, and the digital currency is at risk of money laundering.

kendra1107

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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?

All governments want to take control of Bitcoin! Not that they don't trust it, but to be able to manipulate Bitcoin along with the entire cryptocurrency market. Governments are generally greedy and power hungry! They will do anything and everything they can in order to stay on top.

Syunusa

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We all know that bitcoin and Government are having issues and I believe what causes it is the fact the bitcoin is decentralized meaning that it can be control by any body or Government.

snazir

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The Government has Control on all the Economic activities that its own Country runs. And This is the Reason or one of the reasons why Governments and bitcoin does not Cope up with each other, but there are some Countries in which the Government declared Bitcoin illegal in the Country.

Xaad

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firstly its takes time to became mature. Government is so far even the public is not trusting the bit coin that must. So it takes time to make trust
secondly if any thing gets wrong in the bit coin whom the government will catch because there is not any legal office of them these are some aspects But with time hopeful they will be sort out and it will be recognized properly as currency which will be used for the mean of exchange of the goods and services. hopeful

gesdan

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government is not like the bitcoin system because bitcoin is decentralized, its mean that bitcoin doesn't have the central because of this government don't trust bitcoin because if anything happens in the country they can find the office of bitcoin, its mean that bitcoin is untrackable

egberthill

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Governments are greedy for the control and thus they will never allow anything that can cause the threat to their ambition of controlling every aspect of our life.

Ikpirijor7

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When you have a system framework that is specifically a conceivable substitution to the current money related framework or will it one day destroy the hold and control you have, would you believe it in any case? Indeed I should change the word to risk to be more exact. Governments by and large won't underwrite or acknowledge bitcoin besides and they will successfully keep that from happening.

Atm2020

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In my opinion, not all governments in the world don’t trust bitcoin. Only a few governments in the country don’t trust bitcoin. I think that is a natural thing because in the financial system of the country should be clear, including how the distribution of the transaction, who controls the regulation, and how the tax system according to the law. Whereas, in the bitcoin, it doesn’t exist. No official institution controls bitcoin so the government considers that bitcoin is illegal.

rudox

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Just because they can not control bitcoin because of its decentralized nature. They have tried all they could with their agent but to no avail. Bitcoin can not be centralized once done then bitcoin is no more.

Woolles890

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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?

Yes indeed most governments around the world have not trusted Bitcoin fully but there are already some countries whose governments entrust Bitcoin. The government does not believe in Bitcoin for fear of Bitcoin bringing bad impacts to its citizens. Yes that we know all if Bitcoin can be used for things that are illegal of course this is very worried by the government.

gathingbrus

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Yaasss, this is a classic problem that happened until the year 2018 and will not know how long. But now it's pretty good there are some countries that legalize bitcoin. Let's wait for another country's openness to bitcoin. I think they just need to learn and understand bitcoin more deeply.

spuyf3

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The government never trusts Bitcoin. They cannot control the cryptocurrency unless they can trust the economy to a currency that they do not control. Of course, they have never tried to understand the blockchain before, nor have they ever understood Bitcoin. There are many loopholes in Bitcoin so far, but I believe Bitcoin will become better as time progresses.

Topic: Government and Bitcoin - page 5. (Read 5779 times)