Topic: Government regulation of bitcoin (Read 2869 times)
I think government policy is very important for the development of bitcoin in a country. because if the government does not make good policy about bitcoin, bitcoin will not be well developed in the country.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
Apart from Japan none of the government takes any serious steps on the bitcoin and its growth. If anyone regulate the bitcoin under their financial system then bitcoin has to face many issues like taxation, banking usages and etc..
However, regulation is not good for any bitcoin users. They have to support or else they should close their mouth from criticizing bitcoins in a wrong way.
I agree with you on tax issues. if the regulation is applied, I think bitcoin users will be even more miserable for paying huge taxes. where the government keeps an eye on every transaction activity we make.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
I think it'll choke out people with bitcoins and will try not to transact as much as possible. This will prevent bitcoin movement and that will be an unhealthy circulation. If the government's regulation will be to tax bitcoins, then nobody will ever bring bitcoins to their country. They will most likely revert to eth or alts
I think the government will give every effort to get the bitcoin to be controlled but in fact they can not do anything because bitcoin itself is better than the conventional currency and the government will still assume the bitcoin is illegal in transacting
Decentralised, peer to peer, autonomous nature, low transaction time & charges are the basic features of bitcoin.
Bitcoins become more popular due to these features.
If governments starts putting its own regulations they bitcoin may lose it autonomous nature.
Governments always try to alter and control currencies for their personal benefits.
Putting regulation on bitcoin transaction these governments may earn good revenue.
They may put taxes on every transaction.
Many countries have legalised bitcoins on some conditions, tax structure is being framed.
Bitcoins are world wide acceptance, government tax structure will differ from country to country, this may affect its acceptance in countries where taxes are heavy.
If governments are accepting bitcoin as it is then and then only they will keep its popularity, value and progress intact.
Regulation of Bitcoin in the government is involved a rigorous study because the nature Bitcoin or some currency is different from traditional fiat money Bitcoins become more popular due to these features.
If governments starts putting its own regulations they bitcoin may lose it autonomous nature.
Governments always try to alter and control currencies for their personal benefits.
Putting regulation on bitcoin transaction these governments may earn good revenue.
They may put taxes on every transaction.
Many countries have legalised bitcoins on some conditions, tax structure is being framed.
Bitcoins are world wide acceptance, government tax structure will differ from country to country, this may affect its acceptance in countries where taxes are heavy.
If governments are accepting bitcoin as it is then and then only they will keep its popularity, value and progress intact.
Bitcoin is decentralized, anonymous, peer to peer transaction method, which is different in Traditional banking system were controlled by the government central bank. the only action of the government is to recognize Bitcoin or not . if they will recognized they will give policy which can protect the crypto currency operator of the country, but if not then they will considered it illegal.
Bitcoin was designed to be impossible to regulate, Bitcoin knows no borders!
If they try to persecute every single person who trades Fiat money for bitcoin like they're going after drugs, not only will they fail in the same way, but they will raise awareness of bitcoin and expose the government's use of fiat as a control mechanism. I don't think government knows how competition works. They just know how force works. And if you don't use there special little inflated currency you will be thrown to a cage. Government doesn't like competitors of course they are putting red tape everywhere.
If they try to persecute every single person who trades Fiat money for bitcoin like they're going after drugs, not only will they fail in the same way, but they will raise awareness of bitcoin and expose the government's use of fiat as a control mechanism. I don't think government knows how competition works. They just know how force works. And if you don't use there special little inflated currency you will be thrown to a cage. Government doesn't like competitors of course they are putting red tape everywhere.
Cyprus IS IN THE EU and Europe is very pro blockchain in general. Here the tax laws are very good and because it is a decent and stable country, I don't think there will be a problem with digital currency and Bitcoin in general. It's small Island nation and not many are using Bitcoin and I must be still one of the minorities here, which in a way is quite fun to know. 
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
It depends on the government how they were gonna use bitcoins, The problem will only occur if the government in your country is corrupted and they might manipulate the value like placing tax on it and it will be harder for us to earn more profit.
As long as the government don't have any regulation with regards to bitcoin everyone will be free to whatever they like.
Bitcoin is still not legal tender in my country neither is any other crypto currency. But its still utilized by many as long as you have got the system and internet to participate.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
28/10/2017, In Vietnam, The State Bank of Vietnam announced that the use of Bitcoin and similar virtual currency would be fined 150 to 200 million dong.
The bank's statement states that "Bitcoin and other similar virtual currencies are not legal means of payment in Vietnam", the issuance, provision and use of them as a means of payment are " prohibited behavior in Vietnam.
It is depend on each country
The government of each country has got different opinion upon bitcoin. This makes them develop regulations according to the people of the country as well upon their necessity. Very few have shown signs of positive acceptance in the legal regulations of bitcoin within the country.
For now in my country there is still no rule about bitcoin. But the government has declared a ban on the use of bitcoin as a valid currency in Indonesia so that to spend it should be in exchange with Indonesian currency is the rupiah to be a valid means of exchange. However, despite Indonesia's ban by the government and banks, but bitcoin enthusiasts in Indonesia are still growing and ownership of bitcoins is still safe because there is no definite clarity about the bitcoin ban.
Government regulation is must for any currency. Not only it will allay the fears of prospective investors but also help the product promote itself.
I don't think that governments banning Bitcoin have a huge impact on it. Some small countries have already banned Bitcoin and it didn't change anything at all. Exchange ban in China caused price to decrease by about 30% but it quickly recovered. Now China is thinking about unbanning Bitcoin. I'm not surprised at all, it had to happen.
whatever regulation that created by government, it have positive and negative impact. like sword, have two taper's edge.
but if they rejected bitcoin, many people will harmed. and i think government too.
if they accept i dont know what disadvantages of it, but more profit will take from bitcoin.
but if they rejected bitcoin, many people will harmed. and i think government too.
if they accept i dont know what disadvantages of it, but more profit will take from bitcoin.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
Obviously that's important. With bitcoin recognized by the government it will have a positive impact on the development of bitcoin. So that bitcoin users will be more exist and free to introduce bitcoin in others who do not know him.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
Apart from Japan none of the government takes any serious steps on the bitcoin and its growth. If anyone regulate the bitcoin under their financial system then bitcoin has to face many issues like taxation, banking usages and etc..
However, regulation is not good for any bitcoin users. They have to support or else they should close their mouth from criticizing bitcoins in a wrong way.
I agree with you on tax issues. if the regulation is applied, I think bitcoin users will be even more miserable for paying huge taxes. where the government keeps an eye on every transaction activity we make.
Apart from Japan none of the government takes any serious steps on the bitcoin and its growth. If anyone regulate the bitcoin under their financial system then bitcoin has to face many issues like taxation and banking usages this will not help the bitcoin usage in any way
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
I believe that it will have a positive impact because if bitcoin is going to be banned by the government, it will be all over the news and people are going to talk about it. In the attempt of taking down bitcoins, they instead would end up making it more popular and popularity/hype is what we need to make bitcoin go mainstream.
Bitcoin was made so people wouldn't have to be so controlled by the government. Even with the regulation, bitcoin will be still usable by the people because there is no way that the government can sensor everything about bitcoin. Even if they do, there will be ways to bypass ISP censorship through a VPN. This might be reason why other governments haven't banned bitcoin yet. It's pointless.
whether government regulation is crucial to bitcoin survival, will it have a positive or even negative impact. What do you think ?
if indeed the government intervened in the bitcoin regulations of course we will face the problem, because in the government now the problem always come barrage, and in my opinion without the bitpone government still running even the users found a freedom in investing Jump to: