Government & Bitcoin - page 62. | Bitcointalksearch.org

botany

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Quote from: Gyfts on August 25, 2015, 06:09:20 PM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came.

First world or third world, governments hate letting go off power. Controlling the money supply is one way of exercising power and they would hate to surrender it. They would always view parallel currencies, including bitcoin, as rivals.

HarHarHar9965

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Quote from: freeyourmind on August 27, 2015, 06:18:24 PM

Quote from: Gyfts on August 25, 2015, 06:09:20 PM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came.

I think there is a lot more difficulty in trading bitcoin with a fiat currency, as the fiat part can be tracked without too much trouble, and as long as financial institutions/banks carry out the government's will, it can make it a chore to trade. What is very difficult to control however, would be bitcoin being used to buy and sell actual goods and services. It is very effective at doing that, whether the government chooses to act against it or not. In fact if they choose to be against it, then they will force bitcoin users to operate outside of the law, and that means that they won't be able to capture any tax revenue from sales.

I don't think so it is as easy to track where the fiat is coming from, when you are tracking it without knowing the owner, however it might be a different case if a bank is trying to find out

In order to completely get myself anonymous, I lent some btc and even earned bitcoin from scratch, paid my crypto dues, made my own money and basically I am anonymous to the world rn, don't think so I can be tracked so easily.

freeyourmind

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Quote from: Gyfts on August 25, 2015, 06:09:20 PM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came.

I think there is a lot more difficulty in trading bitcoin with a fiat currency, as the fiat part can be tracked without too much trouble, and as long as financial institutions/banks carry out the government's will, it can make it a chore to trade. What is very difficult to control however, would be bitcoin being used to buy and sell actual goods and services. It is very effective at doing that, whether the government chooses to act against it or not. In fact if they choose to be against it, then they will force bitcoin users to operate outside of the law, and that means that they won't be able to capture any tax revenue from sales.

nerFohanzo

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Quote from: Dotakels on August 25, 2015, 10:45:33 AM

Quote from: MinerHQ on August 14, 2015, 04:59:12 AM

No government will allow bitcoins to consider as a normal currency because all these big institutions will never allow to happen.

Thats right no country will do that, although they already adopt it and already accepting it as a payment they will not do that because it can cause of loss or shortage of their own currency and also they not do that because they more want to used their own currency than the others more on digital or virtual money.

That is true, Governments will never come in support of bitcoins as they view it as a threat to fiat currency, and if bitcoins get on the mainstream then it would be end of their corrupted activities as fiat would loose its power against bitcoins, and Government only wants to benefit themselves, they would never think about the benefits of the people of the country.

Gyfts

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Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

The government of first world countries would never want their beloved currency to go to waste. They are already acting against it. They can't fully go through with it, however. It's a decentralized currency. The only possible outlet they have is putting place laws and regulation that make it harder to obtain or trade. NYC bitcoin LBC exchanges have pretty much been banned because you need a license (which is hard to obtain) in order to purchase/trade bitcoin. I wouldn't be surprised if more came.

klf

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As long as Businesses would accept BTC the government would also follow through. Government can't stop the adoption of BTC, sooner or later they're going to realize the benefits that it can bring.

Dotakels

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Quote from: MinerHQ on August 14, 2015, 04:59:12 AM

No government will allow bitcoins to consider as a normal currency because all these big institutions will never allow to happen.

Thats right no country will do that, although they already adopt it and already accepting it as a payment they will not do that because it can cause of loss or shortage of their own currency and also they not do that because they more want to used their own currency than the others more on digital or virtual money.

MinerHQ

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No government will allow bitcoins to consider as a normal currency because all these big institutions will never allow to happen.

Nizam ibrahim.P.N

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Government will not stuck the bitcoin facility in the world.It is not much connected with bitcoins.like government banking or other facility it won'd be banned or delayed.this is positive advantage of bitcoin than government.equally government and bitcoins helps us to earn..

freeyourmind

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Quote from: kenbytes on August 12, 2015, 11:55:07 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Government can't stop the adoption of BTC, sooner or later they're going to realize the benefits that it can bring.

I think you'd be surprised at how long the government can go without realizing things...maintaining and encouraging ignorance. Government in most cases is a self serving institution.

40+ years of miserable failure in drug policy is still around and kicking, with countless deaths, prisons full of people committing victim-less crimes, forced creation of a black market and organized crime. If that doesn't warrant policy change, you can forget about giving up monetary policy.

kenbytes

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Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Government can't stop the adoption of BTC, sooner or later they're going to realize the benefits that it can bring.

Dotakels

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Quote from: HarHarHar9965 on August 06, 2015, 09:46:52 AM

Quote from: Dotakels on August 02, 2015, 11:11:27 AM

Quote from: BillyBobZorton on August 01, 2015, 01:13:57 PM

Quote from: Dotakels on August 01, 2015, 10:08:40 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Worrying about the goverment shutting down the internet is indeed an absurd thing to worry about. Consider that the whole banking system works under regular internet as well. Credit cards, banks, stocks... it all depends on the internet. Without internet, they kill Bitcoin AND they kill themselves. No one wins.

Hahaha yeah and also the different kind of business such as network company, cable and the online shopping sites. It can also affect their works, it may cause on delaying in payment.

The biggest reason why shutting down the internet would be an unprofitable venture for the government is that they wouldn't be able to keep a check on us. A country shuts down internet thinking that they are better by themselves and they don't want their useful information to reach into other worlds through internet. Look China, banning Youtube, Facebook, etc. There will always be an alternative, just like how bitcoin is to fiat Wink

They not shut down the internet they just banned some sites, it is not the reason so they can say that they are better to others, its all about the economy of a country and how they are grow their economy.

HarHarHar9965

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Activity: 994

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Quote from: Dotakels on August 02, 2015, 11:11:27 AM

Quote from: BillyBobZorton on August 01, 2015, 01:13:57 PM

Quote from: Dotakels on August 01, 2015, 10:08:40 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Worrying about the goverment shutting down the internet is indeed an absurd thing to worry about. Consider that the whole banking system works under regular internet as well. Credit cards, banks, stocks... it all depends on the internet. Without internet, they kill Bitcoin AND they kill themselves. No one wins.

Hahaha yeah and also the different kind of business such as network company, cable and the online shopping sites. It can also affect their works, it may cause on delaying in payment.

The biggest reason why shutting down the internet would be an unprofitable venture for the government is that they wouldn't be able to keep a check on us. A country shuts down internet thinking that they are better by themselves and they don't want their useful information to reach into other worlds through internet. Look China, banning Youtube, Facebook, etc. There will always be an alternative, just like how bitcoin is to fiat Wink

wearepoor

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Activity: 784

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Quote from: Dotakels on August 02, 2015, 11:11:27 AM

Quote from: BillyBobZorton on August 01, 2015, 01:13:57 PM

Quote from: Dotakels on August 01, 2015, 10:08:40 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Worrying about the goverment shutting down the internet is indeed an absurd thing to worry about. Consider that the whole banking system works under regular internet as well. Credit cards, banks, stocks... it all depends on the internet. Without internet, they kill Bitcoin AND they kill themselves. No one wins.

Hahaha yeah and also the different kind of business such as network company, cable and the online shopping sites. It can also affect their works, it may cause on delaying in payment.

Exactly, it would be the disaster if it happens, but truly believe that government should support bitcoins as the Australian Government has accepted Bitcoins as a currency and it is great step taken by them, other governments should also start following them.

Dotakels

sr. member

Activity: 490

Merit: 255

Quote from: BillyBobZorton on August 01, 2015, 01:13:57 PM

Quote from: Dotakels on August 01, 2015, 10:08:40 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Worrying about the goverment shutting down the internet is indeed an absurd thing to worry about. Consider that the whole banking system works under regular internet as well. Credit cards, banks, stocks... it all depends on the internet. Without internet, they kill Bitcoin AND they kill themselves. No one wins.

Hahaha yeah and also the different kind of business such as network company, cable and the online shopping sites. It can also affect their works, it may cause on delaying in payment.

Miracal

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Activity: 350

Merit: 250

Quote from: torrentheaven on August 01, 2015, 04:11:21 PM

Quote from: greBit on August 01, 2015, 01:42:35 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

There are already a few governments which have acted against bitcoin, and how do you think has that helped bitcoin? It is thrown around in the media negatively, residents of a country are thereby even restricted to use it because it is banned in their country now. Also, bitcoins doesn't have such a strong backing by a lot of people that the whole internet will be fighting for them. I don't think the internet or the people care about bitcoin as much as you believe they do.

That is the main reason that bitcoin is not into mainstream, as many governments have already banned the use of bitcoins in their countries, and the rest care is taken by the media who is continuously involved in spreading negative views related to bitcoins and that is the reason bitcoin is not gaining popularity as people have many other options in compare to bitcoins.

If bitcoin is very popular in other countries, it will certainly makes it way to the countries which is banned.. As long as the country is not as terrible as north korea, you know it might take down the ban too with more acceptance seeing its authenticity and reach. Being troubled about losing potential bitcoin users in banned countries, we should concentrate more on people around us who we could educate about btc.

torrentheaven

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Quote from: greBit on August 01, 2015, 01:42:35 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

There are already a few governments which have acted against bitcoin, and how do you think has that helped bitcoin? It is thrown around in the media negatively, residents of a country are thereby even restricted to use it because it is banned in their country now. Also, bitcoins doesn't have such a strong backing by a lot of people that the whole internet will be fighting for them. I don't think the internet or the people care about bitcoin as much as you believe they do.

That is the main reason that bitcoin is not into mainstream, as many governments have already banned the use of bitcoins in their countries, and the rest care is taken by the media who is continuously involved in spreading negative views related to bitcoins and that is the reason bitcoin is not gaining popularity as people have many other options in compare to bitcoins.

BillyBobZorton

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Quote from: Dotakels on August 01, 2015, 10:08:40 AM

Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Worrying about the goverment shutting down the internet is indeed an absurd thing to worry about. Consider that the whole banking system works under regular internet as well. Credit cards, banks, stocks... it all depends on the internet. Without internet, they kill Bitcoin AND they kill themselves. No one wins.

greBit

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Quote from: HarHarHar9965 on August 01, 2015, 04:12:52 AM

Quote from: greBit on August 01, 2015, 01:42:35 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

There are already a few governments which have acted against bitcoin, and how do you think has that helped bitcoin? It is thrown around in the media negatively, residents of a country are thereby even restricted to use it because it is banned in their country now. Also, bitcoins doesn't have such a strong backing by a lot of people that the whole internet will be fighting for them. I don't think the internet or the people care about bitcoin as much as you believe they do.

The legal status of bitcoin is different from one country to another because these rules are changing/being created slowly. While some countries have explicitly allowed its use and trade, others have banned or severely restricted it. Even different governments have classified bitcoins differently, some realize its power and embrace it while some are scared of it. Bangladesh, Bolivia, Ecuador, Russia, Vietnam are some places where it is termed illegal.

Bitcoins are legal in so so many countries also, and if people of these countries are able to use bitcoin for their benefit positively, it will also attract attention of other people. And the government can't stop the people to get from what it wants, because otherwise they will be overthrown by the people. The government gives what people want, so it is more important for people to know bitcoin first, then want it Tongue

Dotakels

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Activity: 490

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Quote from: Amph on August 01, 2015, 03:33:06 AM

Quote from: misterycoins on July 31, 2015, 07:40:50 PM

Bitcoins will be hard for them to stop without shutting down the entire internet. Should a government act against bitcoin, it would drive the price through the roof.

i doubt every governments will ever work together, so this scenario is very unlikely, you will always have at least one government that will not do anything against bitcoin, many have already embraced it, so why, suddenly, they should go against bitcoin without any reason? no-sense....

Yeah theres no reason to against with bitcoin, if they do that maybe they are not already to adopt or to used bitcoin as a payment and currency but shutting down the entire internet is the crazy thing that you thought, Bitcoin is a great help to improve and to grow the economy of the particular country.

Topic: Government & Bitcoin - page 62. (Read 70830 times)