Topic: Government vs Bitcoin - page 4. (Read 1225 times)

When such topics come up, the answers are almost the same. When such topics come up, the answers are almost the same as what we have given before.
Now I say, wasn't there crime when Bitcoin was not invented, and isn't money laundering through fiat currency today? It can be seen that money laundering is the most through fiat currency. So in past times, crime was done through fiat currency or other valuable assets, and now new technology has come and some dishonest people are doing crime through this technology. Here we cannot blame the entire technology or the system. 
And at this point I would say that governments should take action where such crimes are taking place and bring these dishonest people under the law. If you go against technology, you will go backward. Even the government of my own country has not yet gone to the stage where it can bring those who commit crimes with this technology to the law.in that case I would say my country is lagging behind in terms of this technology.

We cannot know what will happen in the future, but given what is happening now, it would be a mistake to think that bitcoin can overhaul a country's economy. We should be more realistic and I agree with you because we are in the early stages of the bitcoin revolution. So maybe bitcoin is only used as a speculative asset, but as things gradually become more popular and accepted. I believe that then bitcoin will have more opportunities to be applied more widely in different industries and fields, thereby creating more useful jobs.

Bitcoin's current status may not be enough to overhaul a nation's economy. Indeed, it doesn't immediately produce jobs. The crypto ecosystem, which includes Bitcoin and other cryptocurrencies and blockchain technology, is producing many jobs. The industry is growing for blockchain developers, crypto traders, security specialists, and crypto journalists.

Bitcoin is misunderstood, which is harmful. However, focusing on knowledge may help us overcome that obstacle. To maximize Bitcoin's wealth potential, informed people are better positioned.

Though volatile, many "traditional" assets (stocks, commodities, even some currencies) have suffered comparable issues in their early days. Its volatility may reduce as more individuals adopt it. I see your position; these debates are essential for our financial future.

Governments are least interested in innovation. These are not research organizations that want to make the world a better place. They have their own goals, such as profit and control.

This is all introduced precisely for the reason of control (totally manage everything) and benefit (receive a portion of the profit in the form of taxes).

Harmful to whom? Extremely harmful to any established system (any country with its own financial and regulatory system in the form of a government) due to financial freedom and the inability to control. It is useful for people, because it allows them to get rid of this oppression.

So is bitcoin good or bad? Depends on which side of the barricade you are on: the side of governments or the people.

The government does understand Bitcoin because if they didn't, they could have banned it. What's happening is that they are regulating Bitcoin and the entire crypto market, so that's a statement that they understand it. If we had to choose, would we prefer to see Bitcoin banned or regulated?

I understand what you mean about the complete anonymity, right? However, forget about that; it's not realistic anymore as we are not in the early stages. Whether we like it or not, the government will function, and no one is above them, which means they will regulate everything.

I see you repeatedly stressing that if a country accepts bitcoin then that country is sure to grow and prosper economically. I am curious to know which countries have accepted bitcoin and which have become more developed economically? Because as far as I know, only El Salvador and Central African Republic are two countries that accept bitcoin as legal tender. But overall their economy has not seen too many significant improvements, which may also be partly due to the ongoing global recession affecting their economy. But besides those two countries, are there any other countries that stand out when it comes to bitcoin adoption and their economies improving?

The government thinks bitcoin is harmful to them not to the users of bitcoin. It’s untraceable which makes the government pretty uneasy. Like any other forms of currency, bitcoin can be easily used for things that the government wouldn’t like/allow hence the regulations. The government is smarter than most people think.

Governments often condone such mistakes and do not legalize Bitcoin. When Bitcoin transactions are introduced in a country, that country becomes much more economically developed.  But there are some countries that criminalize Bitcoin transactions, so they are afraid to legalize Bitcoin. Many countries in the world where Bitcoin has been legalized by the government and invested in their countries have become quite economically self-sufficient, and the country has been able to prosper. Again there are some countries that don't want to legalize bitcoin they always think negative never they think positive. Governments of all those countries think that if bitcoin is legalized, illegal activities in their country will come to light and youth of the country will launder money through bitcoin. And due to such negative aspects the government has made bitcoins illegal in their country and I think this kind of move is not good at all by the government. If a country's government accepts Bitcoin and starts Bitcoin transactions in that country, they will surely prosper economically, and this step should be taken by all country's governments.

Governments are not stupid, my friends. They know all the benefits of bitcoin for everyone, but for them, it is not beneficial for them. What they are building is a centralized system to control us all, whereas bitcoin is decentralized and gives us freedom. If you are a government, do you see any benefit here when your centralized system is threatened by a decentralized system? What they're doing to us makes us feel uncomfortable and wrong, but to them, they're protecting themselves.

I agree as the government implemented strict regulations in order to control Bitcoin but unfortunately, they failed, so they banned it.
Although we ask the government for their support but somewhat they are unfair. They are foolish not to see and think about how it helps the people around them because what they only think is how to make money from it while disregarding the benefits it gives to the investors, traders, and users. Until they don't get their wants, the government will make war against crypto.

Improving an individual's economy is what bitcoin can do, but to improve a country's economy, that's really an exaggeration for bitcoin. To improve a country's economy, we need to create more jobs, bring high income to people and improve people's lives...Can Bitcoin create jobs? People have misconceptions about bitcoin and this is really dangerous for themselves.

Not only does accepting bitcoin as currency pose a risk to those without knowledge of bitcoin, but the government is also unable to control the national economy because of bitcoin's high volatility. Personally, I still feel that as long as volatility persists, bitcoin is more suitable as an asset than a currency.

It is not about the high volatility of the market the government is most concerned about.  The government even allows gambling which is way worse than the high volatility of a market in terms of how people lose their money in the process.   It is about control and censorship since the government being authoritative wanted to have control of everything and yet they are unable to have a grasp of the Bitcoin network.  This is one of the major reasons why the government is hesitant to accept or adopt Bitcoin in their country.

The Main issue is Decentralized. Always has been.
Hard to let go of the fiat mindset ingrained for years in the face of the immaculate conception of Bitcoin.

Bitcoin: don't trust, verify.
Government: Trust us, you don't have a choice anyway

They "accept" it because they have no other choice. They would happily get rid of Bitcoin if they had a possibility to do so. Bitcoin is a threat for them. However, banning Bitcoin and crypto won't prevent people from using it. Bitcoin is unstoppable. 

You would really be able to expect on what the government would really be looking on something which cant be controlled and something that couldn't really be traced up in speaking about transactions. We know that

government doesnt really like on something like this, they do really like on having tracking on everything and be wary on whats happening and with Bitcoins or crypto existence then it did really make out some other story.
Some do sees it to be that just fine but most of government do really see this to be something that do really conflicts out on their interest and this is why its not really that shocking on having that kind of banning and
prohibited kind of decision towards it. Somewhat despite of the government that had been making out those issues but still there's still that huge interest and adoption from the community.

It isnt really created on the purpose on getting against with the government but rather it do really focuses out on how to make out transactions without 3rd party involved.
It did really just turns out that government doesnt really like on things which cant be traced nor be controlled. This is why they would really be normally be having this kind of impression towards it.
They would really be throwing those shit issues just to make this market go down but they had failed out.

The main issue with crypto for government officials is legal status of btc in terms of court cases. It's quite challenging problem, since many people use BTC for legal thins, while many people use it (or might use it in case of legalisation of all the actions with BTC) for illegal and unpredictable things, including unfair rivalry, tax evasion etc. So, if legalised, BTC becomes a good financial tool for many unfair people. And if BTC is not legalised, money exchange and legal issues become a trouble for fair people working in cryptoindustry...

I believe the government thinks Bitcoin is good, and they are smarter than us and they have done their research and studied it. And the reason they don't like it is because they can't control it and countries use their currency as a tool of economic power that allows them to control their people.
With Bitcoin, governments lose this ability, as they no longer have control and citizens can transact to receive or send money globally without the control of governments and third party financial institutions such as banks.
And although the government continues to oppose Bitcoin, it is like a revolution, slowly but surely. I mean, Bitcoin will still exist and continue to grow even though there are many FUD, enemies and so on because Bitcoin is the people's currency.

Bans and regulations are usually done in the best interest of the citizens (we the people), as the fiat system allows them to collect taxes with its already integrated system which has been working for many years now, though efficiency is questionable!

On the other hand , having to allow crypto without a regulatory frame work opens doors for taxes not to be paid, washing of money can be made much easier etc So at the end of it all its not Government misunderstanding this technology,  besides when you talk about the government its the representation of what the citizens want..if they want crypto legalized it's possible to make this happen through our representatives .

Well, to say that government misunderstand or misunderstood Bitcoin innovation is actually a wrong narrative, the right narrative is actually the other way round, government understand bitcoin innovation better than any of us, and that is more reason why they are coming at Bitcoin by all means to see if they can destroy it or take people's mind off it by discouraging people from investing in it ..

Since Bitcoin is completely decentralized and can't be controlled by any man or government, the government are actually seeing it as threat to the power and control they have the people through banking and finance .

Government also will not allow bitcoin investment that it not only effect the banking system but most of the people will also not involved in job because everyone wants to be a part of job which will be full of ease. Individuals are tired of such jobs in which hardwork is more but salaries are not enough to continue their life expenses.

I don't think that government through out the world will accept bitcoin as it will have greater effect on the economic situations of a country and wherever they accept bitcoin then first they will turn this technology as centralized one and will set the rules to pay charges in a form of taxes.

In present form government will never accept bitcoin but if changes occur then there is a possibility for government to accept it as most of the individuals move towards bitcoin investment.