Government & Bitcoin - page 29. | Bitcointalksearch.org

webdevmastery

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Quote from: buxlover on October 04, 2017, 10:54:18 AM

Quote from: krampus854 on September 24, 2017, 09:29:52 AM

government can't handle bitcoin and for sure there will be more problems if the government handle bitcoins and for sure the government will just manipulate it's price because they are handling it.

I'm sure this will never happen because if the government takes over the bitcoin then our decentralised bitcoin won't be decentralised anymore. That's the thing, currently it's not regulated and it's price is increasing because we can manipulate the way we want it. We can bring up the flood of investment with big investors and can just pump it the way we want. :-)

If government is there then everything will be messed up and for sure they will manipulate the price for themselves and not for the public interest. Might do that for the millilitre use who knows. To buy weapons. Lols. So hopefully that should not happen.

I hope that government would not take over the bitcoin because probably the currency will change to decreasing point and yes obviously they were going to manipulate the price for themselves because most of the governments are corrupted.

Adam

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Quote from: Misshi on October 04, 2017, 10:52:17 AM

Quote from: bornil267645 on April 17, 2015, 01:35:43 PM

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

There is a reason behind why governments are not yet accepting totally the use of Bitcoins. It is because Bitcoin is a threat to them. If Bitcoin replaces our conventional currency, Government cannot control them anymore. Actually they knew the benefits of Bitcoin, they knew how this thing works. They just don't want to accept the fact because Bitcoin is decentralized.

Yep there is a lot of governments who cannot accept bitcoin because they think they lost her own currency they this bitcoin is threat to them but worldwide the use of bitcoin increases daily. I think one day all government can accept bitcoin

buxlover

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Quote from: krampus854 on September 24, 2017, 09:29:52 AM

government can't handle bitcoin and for sure there will be more problems if the government handle bitcoins and for sure the government will just manipulate it's price because they are handling it.

I'm sure this will never happen because if the government takes over the bitcoin then our decentralised bitcoin won't be decentralised anymore. That's the thing, currently it's not regulated and it's price is increasing because we can manipulate the way we want it. We can bring up the flood of investment with big investors and can just pump it the way we want. :-)

If government is there then everything will be messed up and for sure they will manipulate the price for themselves and not for the public interest. Might do that for the millilitre use who knows. To buy weapons. Lols. So hopefully that should not happen.

Misshi

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Decentralized Continuous Audit&Reporting Protocol

Quote from: bornil267645 on April 17, 2015, 01:35:43 PM

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

There is a reason behind why governments are not yet accepting totally the use of Bitcoins. It is because Bitcoin is a threat to them. If Bitcoin replaces our conventional currency, Government cannot control them anymore. Actually they knew the benefits of Bitcoin, they knew how this thing works. They just don't want to accept the fact because Bitcoin is decentralized.

cotton ball

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I still do not understand many governments, including in the Russian parliament who do not want to support bitcoin, they consider bitcoin just as a monopoly game that try to exist without going through state legal procedures.

The state also can not intervene when bitcoins have uncontrolled volumes and potentially destroy capitalist civilization.

I think there needs to be a middle ground from both sides, because banning bitcoin is the same as rejecting innovation that will make the current economic system very outdated. countries that do not recognize bitcoin will be very far behind with future civilization.

CheeseZineSlash

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Government won't undertake bitcoin they have dollar and they managing it.But we people can decide on.

pendekar cinta

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Quote from: bornil267645 on April 17, 2015, 01:35:43 PM

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

Perhaps after the plans of many societies who put pressure on the government to be wise in improving the economy of the population so that more advanced again so that with this the government immediately provide quick action in formulating new regulations.

bakunawaaa

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I think a lot of governments will try to regulate it, and they will be able to, however i dont think they will be able to completely regulate it, because the internet has a lot of different functions to preserve privacy.

erikmatik

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Quote from: bornil267645 on April 17, 2015, 01:35:43 PM

The sharing economy is just going to continue to grow, and governments will be challenged to understand and manage its implications while embracing its benefits. However, governments will be at a significant disadvantage if they wait too long and newer technologies and markets will have already been developed that do not follow traditional models. Think of the following: Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

How will local governments adapt to these new ways of doing business that are disrupting traditional business models? All we know now is that governments are a long way from even contemplating and accepting this new reality.

what the government could do us review all the aspects of those new business that keeps sprouting everywhere. Every business must coincide with the established law. If it complies, allow it. If not, try to restrict it. That is the way as can be seen on the recent ICO bans on China and South Korea, govetnment in action against on wht they see as threat on the less knowledgeable citizens prone to scams.

robchch

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Unfortunately governments make the rules so they don't have to do anything. Look at the Chinese ban on bitcoin exchanges. Ultimately if governments don't like something they can make laws against it, or laws that make it much less attractive. If you invent a smart contract coin called TaxCoin which everyone has to use and deducts tax automatically then I am sure governments will line up to adopt! Wink

ask

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goverments wants to implement blockchain technology to their own system more then us. But they are not brave enough to take that action.
I believe India-Estonia and more goverments going to announce their own coin soon.

lordquanta

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Quote from: Amph on April 17, 2015, 02:28:36 PM

government is already adapting and working with banks, there are some of them which are using blockchain technology to overcome probably bitcoin

i doubt it will stay there and watch bitcoin sucking its fiat(scam) currency

Exactly many Govt and Banks are collaborating to develop banking system based on blockchain technology. There were some news about some govt like china may introduce their own digital currency. About the later part not much information is available for confirm. Fiat Currency is a weapon of banks or govt to control the general populous. And nobody likes to let go their cash cow to somebody else. Bitcoin has proven its potential as digital currency. Some added capabilities like microtransaction will enhance the prospect of bitcoin a lot.

Rinder

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The big issue government will have is they cant control bitcoin neither crypto market, they can even join and try but we wont allow them to assume without a fight, crypto is a way to say hey i dont like what you done with my country. Each countrie will have issues to legalize bitcoin, now even more since most of the countries are facing financial problems, and people are investing into crypto soo less money into circulation fo them, unless they consider legalize and see the impulse it can give to the economy, as crypto isnt just trading.

Jake052478

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I will do wonder for YOU!!!

What the government do is to regulate the use of bitcoins and find a way to tax it... because if the government will not impose tax on the use of this currency... they will like lose a lot of income because as of now.. there are no taxes in the use of bitcoins...

Yarskdave

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It is hard at this moment r local government to monitor as me transactions of the cryptocurrency but in other to control this the government can strengthen it financial institutions in terms of proper monitoring through it institutions and policy to checkmate the activities of any kind. This is the only way the local government institutions can monitor and checkmate the activities of any kind within it jurisdiction.

ViperCS

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Bitcoins may be considered money, but not legal currency. The Ecuadorian government has issued a ban on bitcoin and other digital currencies. The National Assembly of Ecuador banned bitcoins including other decentralized digital/crypto currencies, due to the establishment of a new state-run electronic money system.

abyaby123

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The Indian government could make a decision on the legality of Bitcoin as early as the end of the month.

According to a report , a government official close to developments says that a new committee has been created to study cryptocurrency. The source adds that the new group has been given a deadline for its findings of 20th April 2017.

Bitcoin buying, selling, trading or mining is not illegal in India, and the report’s source notes that a rule on illegality would shut down an already flourishing cryptocurrency industry.

Ajan08

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Bitcoin is not a fiat currency in that no government declares by fiat that it is legal tender for any particular use. But it is fiat in the sense that it is created in the cybersphere out of nothing more than imagination, with no inherent value, unlike gold or silver coins, or currencies backed by precious metals. In the book Rethinking Money, former EU monetary official Bernard Lietaer reports that 6,000 to 7,000 such private, alternative, competing and complementary currencies are currently in use around the world, the great majority not backed by anything of inherent value except the willingness of market participants to trade in them. The number of such currencies has shot up from an estimated 5,000 in 2005.

The public reason for the attention of government officials and regulators to this development is the potential for malevolent use of Bitcoin, and other such currencies, by criminals and even terrorists, to transfer funds for illegal activities and worse, and for money laundering. The Senate Homeland Security letter states regarding these currencies, “Their anonymous and decentralized nature has also attracted criminals who value few things more than being allowed to operate in the shadows.”

kevpantof

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Quote from: FJNuñez on September 24, 2017, 11:40:41 AM

I see government and Bitcoin working to the extent of however much the governments of the world decide. China is banning it right now for example, and that is not beneficial for them at all. They will lose out.

I will very much agree with you in this regard that China is on wrong path this time and she should make bitcoins legal again because they are the emerging strongest currency of the world.

When rest of the countries are thinking about making bitcoins legal, it is beyond comprehension why China is banning bitcoins even when it makes the largest portion of bitcoins market?

Mrsmants

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Summary is that different government companies, departments have categorized bitcoin in a different way. I read someplace that governments may possibly fear bitcoin lead to price is established by consumers and not central governments.

Topic: Government & Bitcoin - page 29. (Read 70830 times)