government and crypto collide | Bitcointalksearch.org

naidray

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Quote from: huanzhong644306 on April 03, 2018, 01:46:45 AM

There is no doubt that the actions of the government will affect the way in which its citizens use cryptocurrencies. One of the main reasons why bitcoin has been created is in many ways a philosophical response to how governments control their national currency rules.

Although cryptocurrency has the potential to make money, its core is more of a philosophical realization of monetary freedom. It reminds people that human beings have the ability to govern themselves, and that a free market will promote innovation. This has convinced the liberal people that they are fresh and refreshing, and that they have awakened those who believe that almost all aspects of life are inseparable from the government.

Yes. In a way, the fact that cryptocurrency brings a level of freedom and as you said, with human beings governing themselves, make the whole idea even more encouraging and interesting. Now, it is more like the shackles have finally been broken and all those who have been ensnared by the government as a result of inflation, mortgages and loans etc can now have a life where they can decide to control how things work for them.

Quote from: ronics on April 03, 2018, 12:13:57 AM

will great article !! It just told about the government considering to adopt a cryptocurrencies and where the countries are invaded in this I think that is one of two sided games to sure also .the sides to be a loss it .will be the best for a government to adopt and promote cryprocurrencies since now or tomorrow they all go to adopt it I just considered it about popularity .that is just for benefits are the same as all and also the government is required to regulate the digital encryption of money to protect the interest of investor and to teach a digital encryption currency to the correct way of development.

Well, protecting the interest of investors can only be done by trying to regulate the already decentralized environment which balls down to some control on the activities. However, with the way things are going, countries are already beginning to see the positive effect that lies generally with blockchain technology and even regulating the present space. It is one thing they cannot overlook anyway and it is expected.

horrifiedx1

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Quote from: hispout on April 05, 2018, 04:35:27 AM

Quote from: Funeral Wreaths on March 31, 2018, 02:24:19 AM

Quote from: Jonsnowstark on March 31, 2018, 02:11:32 AM

Quote from: rowel21 on March 29, 2018, 08:35:15 PM

What is the possibility effect of this in both side
Are this a good thing to happened
https://www.bloomberg.com/news/articles/2018-02-12/why-governments-might-join-the-cryptocurrency-craze-quicktake

These governments i think only wants to use the blockchain technology to track down and gain control over their peoples money. Decentralization has always been the reason why bitcoin was materialized. With government attempting to incorporate this technology, it only defeats that purpose. To invest in a currency controlled by the government and central banks is really unwise. I hope people will not support these. Trump's action on banning venezuela crypto is a good one. I hope people will see that they're losing their money over things that don't come through.

i am still doubted about these actions though, but i am also doubted if is it really a good choice on legalizing bitcoin and as you have said that they want to penetrate the crypto world, or should we say the government wants their hands on cryptocurrency. i really think you have the point, but still what is the point of banning bitcoin, since if it is considered illegal, a lot of us would be at stake right?

Looking into the banning and against system Bitcoin is still running and has survived a lot which is witnessing that we should not fear and should not consider if any government is against so Bitcoin is dieing and we should think of the legalization of Bitcoin as we know that Bitcoin is legal but if any government is considering it illegal and banning it then we should make a clear proposal for its legalization and to let them know of the Blockchain technology that results in no illegal transactions.

i think it will be difficult in my country if we make a clear proposal, but although not yet legalized still grateful because only on the prohibited transactions, i think this is not a problem for me, but it would be great if it is legalized

eaglewhite80

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Quote from: atjiat on April 03, 2018, 03:40:30 AM

Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

that's why many countries start to prohibit crypto-currency and at the same time take the criminal responsibility away. I do not think that this situation will positively affect the users of crypto currency.

Well, how long are they going to keep prohibiting without giving up eventually? It would have been easy if this has not spread globally already but the truth is that they must not have expected the rapid growth or spread within a short period of time, thanks for the global level of technology, otherwise, if this were to just be operational in few countries so far, the idea would have been frustrated.
Now, they have no choice than to just embrace and move on with the way things are except to find ways to regulate the current cryptocurrencies and see how they can also integrate the blockchain technology.

justdimin

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Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

I really would not say it is misunderstanding but rather a way to deliberately just not want to understand as long as it is an uncontrolled space. There has always been this idea of central authority stating different policies and trying to control every monetary situation in every country, so the idea of having decentralization in place cannot even fly for them.

Nevertheless, blockchain technology will somehow be adopted by a lot as we can see so many countries already trying to embrace the idea of building their own currency on the blockchain.

hispout

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Quote from: Funeral Wreaths on March 31, 2018, 02:24:19 AM

Quote from: Jonsnowstark on March 31, 2018, 02:11:32 AM

Quote from: rowel21 on March 29, 2018, 08:35:15 PM

What is the possibility effect of this in both side
Are this a good thing to happened
https://www.bloomberg.com/news/articles/2018-02-12/why-governments-might-join-the-cryptocurrency-craze-quicktake

These governments i think only wants to use the blockchain technology to track down and gain control over their peoples money. Decentralization has always been the reason why bitcoin was materialized. With government attempting to incorporate this technology, it only defeats that purpose. To invest in a currency controlled by the government and central banks is really unwise. I hope people will not support these. Trump's action on banning venezuela crypto is a good one. I hope people will see that they're losing their money over things that don't come through.

i am still doubted about these actions though, but i am also doubted if is it really a good choice on legalizing bitcoin and as you have said that they want to penetrate the crypto world, or should we say the government wants their hands on cryptocurrency. i really think you have the point, but still what is the point of banning bitcoin, since if it is considered illegal, a lot of us would be at stake right?

Looking into the banning and against system Bitcoin is still running and has survived a lot which is witnessing that we should not fear and should not consider if any government is against so Bitcoin is dieing and we should think of the legalization of Bitcoin as we know that Bitcoin is legal but if any government is considering it illegal and banning it then we should make a clear proposal for its legalization and to let them know of the Blockchain technology that results in no illegal transactions.

richardsNY

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Quote from: orions.belt19 on April 04, 2018, 01:34:17 PM

Soon, many more other countries will choose to regulate as well.

That's pretty much a guarantee. I think it's safe to say that right now all eyes of the countries that haven't forced through the necessary regulations, are looking at how Japan is doing to have an impression of what positive or negative effects somewhat open minded regulations have. That might also explain why it takes time for the rest to follow. Regulations come in various levels, where the main level is the one allowing financial institutions to enter this market, and I think that everyone wants to see this happen sooner than later. It might take a few more years, but eventually it will definitely become reality. In general terms, crypto is an entirely new asset class that is emerging, and nothing can stop it, but no one want to miss out on it either....

South Park

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Quote from: magneto on April 04, 2018, 02:07:25 AM

It's just going to be one step closer to a "cashless" society, but not a decentralised one.

As the article says, it's just going to make the government's actions have a more direct impact on the economy if they do use blockchain technology in the future. To be honest, it won't even be competition for the current crypto market because it's just completely different. One is decentralised, the other is centralised. It's just fiat money in blockchain form, it's still controllable by governments.

It's not a good thing, but it's not a bad thing. Governments aren't promoting existing cryptos but rather trying to get people to use their version of cryptocurrency, it's not going to push price of BTC up at all.

That is not going to push the adoption of decentralized cryptocurrencies however people will get used to use cryptocurrencies even if they are using the cryptocurrencies created by governments this means that eventually when those cryptocurrencies fail, and they will fail, people will adopt more easily decentralized cryptocurrencies.

orions.belt19

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Quote from: rickadone on April 04, 2018, 01:24:41 PM

Quote from: atjiat on April 03, 2018, 03:40:30 AM

Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

that's why many countries start to prohibit crypto-currency and at the same time take the criminal responsibility away. I do not think that this situation will positively affect the users of crypto currency.

One thing I am sure they cannot achieve is to restrict people globally from experiencing this level of freedom which is what the idea of decentralization has brought. They know that already anyway and from few things that could be deducted now, it is more like, generally, their hands are tied. It has been an interesting journey I must say, most especially for some of us in countries where we have been totally enslaved monetary wise. Whatever comes out of all this collusion, can only lead to regulation to some extent and the adoption of blockchain technology itself.

It is out of their hands. Bitcoin and crypto will just continue to flourish even if they don’t want to. Some have even chosen to ignore it or impose a total ban simply because they do not understand something which is unstable and out of their control. As we can see, some countries are now making regulations and this may continue for the upcoming years. Soon, many more other countries will choose to regulate as well.

rickadone

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Quote from: atjiat on April 03, 2018, 03:40:30 AM

Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

that's why many countries start to prohibit crypto-currency and at the same time take the criminal responsibility away. I do not think that this situation will positively affect the users of crypto currency.

One thing I am sure they cannot achieve is to restrict people globally from experiencing this level of freedom which is what the idea of decentralization has brought. They know that already anyway and from few things that could be deducted now, it is more like, generally, their hands are tied. It has been an interesting journey I must say, most especially for some of us in countries where we have been totally enslaved monetary wise. Whatever comes out of all this collusion, can only lead to regulation to some extent and the adoption of blockchain technology itself.

BrentMack

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The governments are just getting frustrated because they haven't found a way to tax bitcoin and bitcoin earnings which is why they are so against bitcoin, they see so much money in one place but they have no idea how to get out of it./

magneto

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It's just going to be one step closer to a "cashless" society, but not a decentralised one.

As the article says, it's just going to make the government's actions have a more direct impact on the economy if they do use blockchain technology in the future. To be honest, it won't even be competition for the current crypto market because it's just completely different. One is decentralised, the other is centralised. It's just fiat money in blockchain form, it's still controllable by governments.

It's not a good thing, but it's not a bad thing. Governments aren't promoting existing cryptos but rather trying to get people to use their version of cryptocurrency, it's not going to push price of BTC up at all.

CASTIEL05

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Quote from: rowel21 on March 29, 2018, 08:35:15 PM

What is the possibility effect of this in both side
Are this a good thing to happened
https://www.bloomberg.com/news/articles/2018-02-12/why-governments-might-join-the-cryptocurrency-craze-quicktake

I don't know if the manipulation of government is good for the future of cryptocurrency. In some point, they are correct because crypto can be a purpose for tax evasion but in order for them to crack tax evasion, government will control the crypto as well as the blockchain technology. If they make a regulation that covers about 40% of population in the world, cryptocurrency may decline. We are always been part of centralization because government holds us.

yurenchuang7125

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As a currency or an investment category, the biggest risk to bitcoin's future success may be regulatory risk. For example, if China decides to ban its citizens from holding bitcoin, the price of the digital currency will collapse. China is currently the largest market for bitcoin transactions, with more than 50 per cent of bitcoin transactions taking place in China. Therefore, any adverse regulatory changes will have a direct impact on the world's bitcoin investment.

The same is true for major bitcoin start-ups like the United States and Britain, where prices collapse and are hard to recover if any big economy bans bitcoin.

northcoin2018

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Quote from: olia10 on March 29, 2018, 09:02:30 PM

I heard this news Until July 1, 2018, the government and the Russian Federation should determine the legal status of the country's crypto currency and also determine the taxation for mining.

For me this has both negative effects and positive. Cryptocurrency is widely accepted because of it's low cost transactions, anonymity and decentralization with the government putting their hands over crypto a significant changes will be implementedon those above mentioned.

darewaller

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Quote from: hualangktsld841 on April 03, 2018, 04:32:33 AM

We have seen more and more governments intend to join or may join the Cryptocurrency boom, and if the campaign continues, it will certainly change the existing international monetary system, and they are willing to make this attempt for small countries with economic instability, as Venezuela launched a virtual currency such as Petro. Next, those big powers will join forces with banks to try to make breakthroughs in the new field of block chain.

Blockchain must be a very big invention of human history and it will definitely attract more governments in coming days. We have already have here a long discussion about bitcoin will be replacing gold and when it will be happening there will be no wonder for bitcoin to be representing as a new international momentary system. Because I do believe bitcoin has all the capabilities to serve as international momentary system for the need of digital era demands.

Definitely we can expect drastic changes in world economic when government and crypto shake hands. Because, we already experience lack of support from fiats for digital age demands still governments not thinking about adopting new system probably bitcoin kind of new systems would be the answer for them.

hualangktsld841

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We have seen more and more governments intend to join or may join the Cryptocurrency boom, and if the campaign continues, it will certainly change the existing international monetary system, and they are willing to make this attempt for small countries with economic instability, as Venezuela launched a virtual currency such as Petro. Next, those big powers will join forces with banks to try to make breakthroughs in the new field of block chain.

Harlot

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On the government having its own cryptocurrency. I don't think that is a good idea as they are like creating another currency outside of their Fiat currency which means their would be an internal competition between the two currency they have. It would like saying to their own citizens that their own money is not enough.

But on the government allowing cryptocurrencies in their country, I would only see a good effect in terms of economical growth. But that growth will only come when proper regulation is applied, because without it a lot of people earning cryptocurrencies would have the tendency to evade taxes or falsify their income return.

Safebit.io

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Crypto is critical for a true global-scale economy. As much as countries may want to avoid this, it's an important trend that can't be ignored.

Better tech always wins against bureaucracy, it just takes time Sad

wuvdoll

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Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

It may be inappropriate if you call governments are not understanding crypto currency correctly. Moreover I mean to say governments are not at all ready to try understanding what is crypto currency and what are the advantages a country's economic will get. Probably they will take some more time before start studying about crypto currency and its advantages.

I believe if governments start adopting crypto currencies then that will be the beginning of new era of better economic system worldwide. Already Japan is doing it and we are getting news on better economic rate in Japan. Maybe this will be the trigger for other countries to start adopting crypto currencies.

Bitcoin must be a versatile system and one day or other government to start realizing the potential of adopting bitcoin for each and every aspects of running a government. Honestly we cannot expect any time-frame within that government will come to adopt crypto currencies because there are a lot of infrastructures still needs to be built within crypto environments so that government adoption may occur earlier than we can expect.

atjiat

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Quote from: BitNaija on April 03, 2018, 12:20:25 AM

The collusion is because of misunderstanding. The government completely misunderstood the working of bitcoin only looking for ways to control it. But bitcoin being decentralized and P2P is not easy to be controlled.

that's why many countries start to prohibit crypto-currency and at the same time take the criminal responsibility away. I do not think that this situation will positively affect the users of crypto currency.

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