Topic: Government &amp; Bitcoin - page 72. (Read 70850 times)

Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

Quote from: BTCevo on May 16, 2015, 08:13:10 AM

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

No, it is for normal people. And no, there will never be government support, because there is nothing in bitcoin that is an advantage for the government.

Absolutely. Don't expect government to be so generous to the country. They are busy in making their own money and buying their own bread n butter. government will never support the bitcoin as a currency as they know it can be end of corruption if they adopts bitcoin

Government will start to adopt bitcoin when they getting the full control of this bitcoin so they will eat both of them and start to make a new regulation to a new bitcoin user and everything that they do is sure proftable to them rather than us

How would you go about getting "full control" of a decentralized currency? Government has two tools when it comes controlling or manipulating an economy which is the monetary and fiscal policies. Monetary policy being the interest rate and money supply, both of which don't apply to bitcoin.

Of all the fiat currencies available, all the government can do is market their own home brew and make you think that the thin air that is backing "our" currency is far superior to the thin air backing another currency.

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Quote from: gripflierGO on May 15, 2015, 04:34:54 PM

Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

Quote from: gripflierGO on May 15, 2015, 04:34:54 PM

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

No, it is for normal people. And no, there will never be government support, because there is nothing in bitcoin that is an advantage for the government.

Absolutely. Don't expect government to be so generous to the country. They are busy in making their own money and buying their own bread n butter. government will never support the bitcoin as a currency as they know it can be end of corruption if they adopts bitcoin

Government will start to adopt bitcoin when they getting the full control of this bitcoin so they will eat both of them and start to make a new regulation to a new bitcoin user and everything that they do is sure proftable to them rather than us

Not this bitcoin.

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Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

No, it is for normal people. And no, there will never be government support, because there is nothing in bitcoin that is an advantage for the government.

Absolutely. Don't expect government to be so generous to the country. They are busy in making their own money and buying their own bread n butter. government will never support the bitcoin as a currency as they know it can be end of corruption if they adopts bitcoin

Government will start to adopt bitcoin when they getting the full control of this bitcoin so they will eat both of them and start to make a new regulation to a new bitcoin user and everything that they do is sure proftable to them rather than us

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Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

No, it is for normal people. And no, there will never be government support, because there is nothing in bitcoin that is an advantage for the government.

Absolutely. Don't expect government to be so generous to the country. They are busy in making their own money and buying their own bread n butter. government will never support the bitcoin as a currency as they know it can be end of corruption if they adopts bitcoin

Erdogan

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Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

No, it is for normal people. And no, there will never be government support, because there is nothing in bitcoin that is an advantage for the government.

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Without government support crypto currencies will in normal times ever be just a niche thing for nerds, techies and libertarians. You need the government regulation and acceptance to reach the mass and mainstream.

Quote from: freeyourmind on May 15, 2015, 12:09:35 PM

I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

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I say keepz the government out of da cryptos all together. We don't need them. we don't want them. We are strong without them.

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Quote from: freeyourmind on May 14, 2015, 06:24:41 PM

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

That is true that USD is most powerful and accepted currency across the globe. But it can be replaced by the bitcoins if the Government shows their interests in accepting bitcoin as a currency as a mode of payment you cannot ignore the fact that bitcoin is not getting the support that it should get.

Well anyone that wants to support Bitcoin is free to do so, so it is getting the support it should be getting. The government is very slow with integrating anything, and adopting a new form of technology isn't something the government does. I got audited by the government last year, and had to send FAX or MAIL back to them. They did not even accept an online submission or e-mail. If you cannot e-mail supporting documents, do you really think the retarded giant is ready for Bitcoin, the misunderstood volatile cryptocurrency that is not even mainstream yet? It will need to hit the mainstream ahead of government as they are the slowest to adapt to anything, especially when it takes away the power than they work so hard to obtain.

Yeah that's true we never know that when Government will start adapting and accepting the bitcoins as the government process is very slow unlike the government officer where you visit to get things done and you have to visit regularly to get things done so bitcoins i think still long way to wait.

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Quote from: freeyourmind on May 14, 2015, 06:24:41 PM

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

That is true that USD is most powerful and accepted currency across the globe. But it can be replaced by the bitcoins if the Government shows their interests in accepting bitcoin as a currency as a mode of payment you cannot ignore the fact that bitcoin is not getting the support that it should get.

Well anyone that wants to support Bitcoin is free to do so, so it is getting the support it should be getting. The government is very slow with integrating anything, and adopting a new form of technology isn't something the government does. I got audited by the government last year, and had to send FAX or MAIL back to them. They did not even accept an online submission or e-mail. If you cannot e-mail supporting documents, do you really think the retarded giant is ready for Bitcoin, the misunderstood volatile cryptocurrency that is not even mainstream yet? It will need to hit the mainstream ahead of government as they are the slowest to adapt to anything, especially when it takes away the power than they work so hard to obtain.

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Quote

Uber is the world’s largest taxi service and owns no cars. Airbnb provides lodging yet does not own real estate.

Heh it took few seconds to me but i loved your quote, great book.

Quote

The most country that have a benefit with bitcoin is japan. And satoshi is from japan so that he introduce it and many miners are live in japan.

Bitcoin is mostly used in USA tought chinesse are buying it like crazy, same with the miners i dont see japan as such BTC superpower, i think they got goxxed harder than the rest of the world.

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Quote from: Amph on May 15, 2015, 02:22:41 AM

Quote from: freeyourmind on May 14, 2015, 06:24:41 PM

Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

Quote from: bornil267645 on April 17, 2015, 12:35:43 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.

No government going to willingly give up its sovereign power to issue money.

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

That is true that USD is most powerful and accepted currency across the globe. But it can be replaced by the bitcoins if the Government shows their interests in accepting bitcoin as a currency as a mode of payment you cannot ignore the fact that bitcoin is not getting the support that it should get.

i don't know, i think it's better for bitcoin to take on less stronger fiat first and let the usd ,as the last fiat to overcome, there are many other government that may benefit from bitcoin, usa isn't one of those

The most country that have a benefit with bitcoin is japan. And satoshi is from japan so that he introduce it and many miners are live in japan.

Amph

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Quote from: freeyourmind on May 14, 2015, 06:24:41 PM

Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

Quote from: bornil267645 on April 17, 2015, 12:35:43 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.

No government going to willingly give up its sovereign power to issue money.

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

That is true that USD is most powerful and accepted currency across the globe. But it can be replaced by the bitcoins if the Government shows their interests in accepting bitcoin as a currency as a mode of payment you cannot ignore the fact that bitcoin is not getting the support that it should get.

i don't know, i think it's better for bitcoin to take on less stronger fiat first and let the usd ,as the last fiat to overcome, there are many other government that may benefit from bitcoin, usa isn't one of those

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Quote from: freeyourmind on May 14, 2015, 06:24:41 PM

Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

Quote from: bornil267645 on April 17, 2015, 12:35:43 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.

No government going to willingly give up its sovereign power to issue money.

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

That is true that USD is most powerful and accepted currency across the globe. But it can be replaced by the bitcoins if the Government shows their interests in accepting bitcoin as a currency as a mode of payment you cannot ignore the fact that bitcoin is not getting the support that it should get.

freeyourmind

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Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

Quote from: bornil267645 on April 17, 2015, 12:35:43 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.

No government going to willingly give up its sovereign power to issue money.

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Thanks for the link.

For the countries that exclusively use the USD, that would be a government decision, but for the countries that use the USD in parallel with their local currency, I wonder if that is a government decision or the general market losing faith and using USD (especially countries that have a large tourism industry). When I went to Cambodia, it seemed as if the people actually preferred using USD, but that preference seemed to be based on their own confidence in the USD and not necessarily the government.

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Quote from: Xenoph0bia on May 14, 2015, 12:36:19 PM

If the Government is honest and not corrupted they would happily welcome bitcoin as a opportunity to new era of technology. But if the Government is corrupted then it would definitely view bitcoin as a threat to fiat currency and would not entertain it in the future course of time.

Thats Right but the country i live i dont think that govt will anyhow accept the bitcoin as a currency or a mode of payment as they are very much busy in their own bread and butter...they really dont care about the country and the society as they want to earn the maximum.

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If the Government is honest and not corrupted they would happily welcome bitcoin as a opportunity to new era of technology. But if the Government is corrupted then it would definitely view bitcoin as a threat to fiat currency and would not entertain it in the future course of time.

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Quote from: aso118 on May 13, 2015, 07:42:01 PM

Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Yes, that is what I was talking about. Ecuador is one famous example.
If people/investors lose faith in the ability of the government to manage monetary policy, adopting a foreign currency may be a way to encourage investors to come in.

Yeah because they can earned a big money in that country because the people of that country have no trust to their government so that they will buy or trust the private business and also the investors will invest in the private business and not in government business.

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Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

Quote from: freeyourmind on May 13, 2015, 12:24:41 AM

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Yes, that is what I was talking about. Ecuador is one famous example.
If people/investors lose faith in the ability of the government to manage monetary policy, adopting a foreign currency may be a way to encourage investors to come in.

Amph

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Quote from: bornil267645 on April 17, 2015, 12:35:43 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.

No government going to willingly give up its sovereign power to issue money.

It doesn't have to be willing. It may be forced.
There are some governments which have adopted the US dollar as their currency, to encourage investors to come in. Bitcoin can play a similar role.

I know USD is accepted in other countries, but which countries are you referring to where the government adopted the US dollar?

see here http://en.wikipedia.org/wiki/Currency_substitution

sometimes some countries use parallel currencies or substitute their native currency for their economy

Dotakels

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Quote from: freeyourmind on May 13, 2015, 12:24:41 AM