Government vs Bitcoin - page 7. | Bitcointalksearch.org

Smartgoat

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

looking at the hull thing , I don't think that government want to ban Bitcoin. because when you look at the advance country BTC is used as means of payment. but in my own country, the government don't even want to ban BTC. but, want to have control over it. the dependency of Bitcoin alone is very worrisome to the government .

Patrol69

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Quote from: JunaidAzizi on September 05, 2023, 10:30:39 AM

Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Yes, I agree with you Bitcoin is not as determined as some people suggested, Instead, it has the potential to do good in the world. Bitcoin is a complex and new technology A few people understand it but the govt does not fully understand it and that's why they ban it. The Govt is afraid of the use of Bitcoin in illegal activities. China, Iran, and Pakistan banned Bitcoin in their countries due to the afraid of using Bitcoin in illegal activities such as terrorist financing, and money laundering. There is no such evidence that Bitcoin is likely to be used in illegal activities. According to the research of the University of Sydney, Bitcoin is actually less used in illegal activities than the traditional fiat currency

Bitcoin is completely banned in the countries you mentioned including China Pakistan Nepal Bhutan and even though Bitcoin is completely banned in these countries people are using Bitcoin defying government restrictions and in some cases citizens of these countries are doing some bad things with Bitcoin. The ones that have come before the government are mainly because of some incidents, the governments of those countries have completely banned Bitcoin in their country and they think that only criminal activities are completed with Bitcoin. The economic system of all the countries you mentioned except China is not that developed and they believe that if Bitcoin is legalized in their country they will never be able to fix their economic situation mainly because of these reasons Bitcoin is now completely banned as a currency in these countries.

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

If you understand Bitcoin for sure the people in the government would also have the knowledge on Bitcoin's potential and benefits to the people, but if you are in the institution and part of the government, as you see people are more relying on the crypto currency which is the Bitcoin than the fiat money like USD of course it would be a threat for the economy of a country. Especially now in our current statistics that the Bitcoin adoption are keep rising so lots of country are banning Bitcoin before it affects the country. Plus the fact that it is decentralized so it would be hard for them to control like having a tax fee for them to take advantage from it but there's none. Although Bitcoin has helped a lot of people that could contribute back to the economy.

348Judah

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Quote from: Razmirraz on September 05, 2023, 10:17:36 AM

Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

The presence of Bitcoin has never harmed any party including the government, Bitcoin can be used by all elements of society and the government can also use the facilities provided by Bitcoin. The government is afraid because they cannot control all transactions made using Bitcoin and this fear continues to the collapse of fiat because people prefer to use Bitcoin as a transaction tool rather than fiat.

The government restricted the use of Bitcoin in the country due to deep fears of fiat collapse due to massive Bitcoin adoption. To maintain the integrity of fiat which can bring profits to the country, they regulate Bitcoin regulations only as commodity assets.

And to wrap it up, they cannot do anything about bitcoin than to watch it happening and people living to make use of it while it continues to exist, there are some particular things the government should know about the reason why the people insisted on bitcoin adoption over fiat, there are beneficial features that bitcoin renders and the fiat currency can never give, all these contributed to the massive growth of bitcoin in the world and the people are glad embracing this rare financial opportunity for their desired change they want in the economy.

JunaidAzizi

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Yes, I agree with you Bitcoin is not as determined as some people suggested, Instead, it has the potential to do good in the world. Bitcoin is a complex and new technology A few people understand it but the govt does not fully understand it and that's why they ban it. The Govt is afraid of the use of Bitcoin in illegal activities. China, Iran, and Pakistan banned Bitcoin in their countries due to the afraid of using Bitcoin in illegal activities such as terrorist financing, and money laundering. There is no such evidence that Bitcoin is likely to be used in illegal activities. According to the research of the University of Sydney, Bitcoin is actually less used in illegal activities than the traditional fiat currency

Razmirraz

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

The presence of Bitcoin has never harmed any party including the government, Bitcoin can be used by all elements of society and the government can also use the facilities provided by Bitcoin. The government is afraid because they cannot control all transactions made using Bitcoin and this fear continues to the collapse of fiat because people prefer to use Bitcoin as a transaction tool rather than fiat.

The government restricted the use of Bitcoin in the country due to deep fears of fiat collapse due to massive Bitcoin adoption. To maintain the integrity of fiat which can bring profits to the country, they regulate Bitcoin regulations only as commodity assets.

G_Besar

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

I don't think all governments are wrong in understanding the innovation of Bitcoin now, although in general there are still many governments who don't understand the innovation of Bitcoin. But in fact, I also think that the government already knows how much innovation there is in Bitcoin, even though most governments are still afraid to make special regulations for Bitcoin because they still really want to maintain the state regulations they have previously agreed to.

Actually, the rules in Bitcoin make a lot of sense even though you say they don't make sense, but I don't think so because when a rule aims to make things easier and no one is harmed, it should be reasonable enough for everyone to understand. But if this is related to the government in all countries, of course there must be another special study because each country has its own rules for accepting all innovations and also for making any new regulations that might be contrary to the basic rules that have long existed within the country.

Helena Yu

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The fact is most of countries are accept Bitcoin as an investment, so it's not really government is hate against Bitcoin.

Only few countries are ban Bitcoin, of course they're don't want to get involved in Bitcoin and not interested to learn it. But some countries are know if many people are interested with Bitcoin and they're use this to take advantage by taxing Bitcoin.

Blitzboy

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Knowing why they're worried is crucial. Bitcoin disrupts everything about traditional banking. Its a revolution, not just money.

Centralization and regulation underpin traditional financial institutions. Bitcoin is decentralized and p2p. Money without government regulation is unpopular. Some rules are made to prevent misuse, but others are made because people dont comprehend or fear the unknown.

Not right or wrong, but evolving views. You're right, yet governments and institutions are facing massive upheaval.

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Bitcoin have nothing to do with government, and it was then when many countries doesn't like existence of Bitcoin because they thought that Bitcoin is a kind of currency that will be use for corruption in the aspect of money laundering, this is the area or aspect i think that many countries looks at in Bitcoin and start acting strange and dislike the existence of bitcoins, bitcoin is a decentralized currency in which nobody can regulates it even the government, the objectives of Bitcoin from my perspective is to stand as a currency of it own and not to be centralized currency but a decentralized currency, some countries lift ban in Bitcoin sometimes ago but I don't know those things is still in existence.

icalical

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

I think it;s quite the opposite, Government really understand the innovation that Bitcoin brings to the economic system, and they also know that those innovations will bring down all the things that they have been built for decades, which is a total control over currency and how those currency affect the economic system. Thats why the goverment keep delaying Bitcoin, so they can find the way to mitigate the risk of losing the control overy their economic.

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Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Frankly, the decentralized nature of bitcoin puts governments at a disadvantage, and that's what they don't like about bitcoin. Decentralization is only good and beneficial for us who don't want to be monitored and controlled by the government, while the government is the one trying to control us all. So you don't have to wonder why the government doesn't like bitcoin and tries to get rid of it.

By the way, as everyone has said, you are pretty naive to think that the government has no deep knowledge of bitcoin. They did thousands of research before deciding against bitcoin, they know even more about bitcoin than any of us, IMO.

YUriy1991

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I think one of them has to give way to encourage growth and have innovation of course be prioritized. Of course in this case BTC reasons are relevant because in the future BTC will have great benefits for everyone who holds it meaning that good communication will result in better understanding, which will result in reasonable regulations

Yes. right now a lot of people are not sure if Bitcoin is even legal in some countries now and there is also a lot of negative pressure around the malicious transactions that can be done using Bitcoin and ledgers. Now Bankers chuckle a generation of nerds just got an MBA in economics the hard way.

LittleBitFunny

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Quote from: SmartCharpa on September 05, 2023, 03:31:07 AM

Quote from: F2GIRL on September 04, 2023, 01:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

I don't believe that any government misunderstood bitcoin; in fact, I believe that most governments understand bitcoin and how it works better than you do. The problem is that governments can't control it. For example, in my country, there have been times when governments have issued regulations prohibiting further use of nvestment in bitcoin, even though they are aware that these regulations are unworkable. Governments want to find a way to profit from anything that becomes popular, and bitcoin is no exception.
and if you look among them, you'll see that they make investments as well as this type of guidelines. Bitcoin already runs the globe, and I have no doubt that it will do so in the future, no matter how hard they attempt to outlaw it.

The government is the head of a country, they are the ones who have controlled us for thousands of years, so it would be naive to assume they have bitcoin ignorance. The government is smart and they are doing what is in their best interest and banning bitcoin is in their interest too.

Regarding the acceptance of bitcoin, I believe that all governments will soon accept it because they gradually realize the benefit of accepting it, which is being able to collect huge taxes from us. And of course, we will be able to use bitcoin but there will be limitations, we will never be free to use bitcoin as we want, we need to comply with the law. That is why many governments have accepted bitcoin as an asset, not a currency.

kryptqnick

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While a lot of people (by my calculations, it's around 40% of the world's population, but that also depends on the criteria we take into account) are affected by Bitcoin restrictions, it isn't because a lot of governments choose to impose harsh restrictions. It's a handful of countries, really, but they include some of the most populated ones. There's also an overlap between countries that banned or heavily restricted Bitcoin and countries that tend to be authoritarian rather than democratic. Thus, it seems to me that those governments that restrict Bitcoin tend to restrict other freedoms as well, so it's merely a natural continuation. But, thankfully, many countries aren't like that and are either neutral or trying to create a space for legal use of Bitcoin.

Sim_card

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Governments knows the potential of bitcoin better than anyone because they will have experts in the government, and this is why they are against bitcoin. Bitcoin is decentralized and this makes it difficult for them to control. This has given the government headache to see how they can control bitcoin,which makes them come up with a regulation policy on exchanges and traders. Still bitcoin is beyond their limit and that is why some countries put a ban on it. We have also seen countries that have uplift the ban on bitcoin because they want to also benefit from it through taxes. Bitcoin came to open peoples eyes for them to see that they can keep their funds themselves and can also carry out a transaction without a third party. Financial freedom is what the government hates.

Negotiation

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As bitcoin cannot be controlled by a decentralized government it also works against bitcoin's network pseudonymity meaning that users are identified only by their addresses on the network. It is difficult to trace the origin of a transaction or the identity of a person or organization behind the address. That's why most people prefer bitcoin the government thinks that if everyone moves to bitcoin fiat will be stagnant but fiat and the banking system will never be stagnant. Bitcoin usage is more popular online crypto prices are inherently volatile due to their lack of intrinsic economic value, as they are exclusively tied to fluctuations in their demand. The government can increase the economic development of the country through bitcoin.

karabiber

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Quote from: Xcode7 on September 05, 2023, 12:40:25 AM

Quote from: Litzki1990 on September 04, 2023, 11:42:46 PM

I know why governments of different countries always accept Bitcoin negatively. The positive aspects of Bitcoin never come before the government systems of different countries. Most of the governments of the countries are far from accepting Bitcoin and they are always promoting Bitcoin negatively. There are enough reasons for such negative propaganda about Bitcoin as if people deposit their money through Bitcoin without depositing money in banks then they will not be able to control the money of their country and the amount of money that their people deposit in Bitcoin from their country is from their country. It will go out basically you can't control the money that's why the government of most of the countries are always negative about Bitcoin.

And that's quite logical because there are so many negative things that are very dangerous for the country if they legalize Bitcoin, like a crime network that can't be controlled if the government legalizes bitcoin, that's actually reasons that can be accepted but there are also some positive things that can't be defeat the negative so that it is never seen but the government should have the authority and rules to be able to remove the positive things and try to see the positive things if they legalize Bitcoin, that's a lot and even now the country of El Salvador has legalized Bitcoin because they can take advantage of the positive things and advantages of using Bitcoin.
But I see that for now, many state governments tend to do nothing, not prohibit and also not legalize, meaning that we can carry out any transaction without any protection and regulation from the state.

I oppose the idea of governments banning Bitcoin and i think that developing and underdeveloped countries in particular should be firmly committed to Bitcoin. Banning Bitcoin, which is seen as a danger by governments is not a logical move at a time when Bitcoin adoption is growing rapidly around the world. Especially from inflationary countries, Bitcoin investments are increasing and investments in Bitcoin are continuing from a large number of countries.

I think it is difficult for governments to ban Bitcoin in the face of rapidly increasing Bitcoin investments. I can say that the attempts of countries such as Russia, China and Switzerland to ban Bitcoin will not pose a threat to Bitcoin. Already after China's ban, Chinese citizens continue to invest in Bitcoin from bitcoin exchanges abroad. The ban did not have any impact for China. It seems inevitable that Bitcoin, which is limited in number in the face of unrequited state coins, will continue to gain value.

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Quote from: skarais on September 04, 2023, 02:00:36 PM

Bitcoin hasn't harmed the government, but the innovation that is in bitcoin makes most governments afraid. Governments are afraid because they can't control bitcoin, of course that has made some of them ban it. But I am grateful that my country's government has not banned bitcoin completely, I mean bitcoin can be traded even though it is not allowed to use it as legal tender.

The policies taken by the government towards bitcoin are sometimes detrimental. Governments tend to say something negative about bitcoin, but they're basically just lying and pretending not to know. Bitcoin is just like any other currency, it can be misused for whatever reason. But that's not a good reason to ban a currency.

Bitcoin was banned in my country and later the ban was lifted but I don't trust them because while the ban was ongoing the government ordered all banks to block every bank accounts that have once traded with crypto and Bitcoin one way or the other, later many Bank accounts got frozen, I guess it's better to secretively trade Bitcoin, if you are already using your Bank account for crypto trades you could be in trouble in future.

Government consists of smart people that's why I don't believe they lack understanding about Bitcoin, they understand Bitcoin perfectly and they are in fear of what Bitcoin could be in the future, they want the world's attention on something else, not Bitcoin.

They are also pissed that they can't control Bitcoin, this is an innovation that should have been created by the government themselves, I believe that's what's in their mind, instead a random unknown person created Bitcoin.

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Sometimes it's just an excuse for the government to expose its power, most of the FUDs that I've heard about Bitcoin are just a one-sided view from a personal point of view, money laundering, crime Crime, clean energy,... have never been convincing enough to say that bitcoin is harmful. Moreover, more and more people are admitting that the useful feature that people get when learning about and using bitcoin so it is bullshit with unverified information about bitcoin, but it is are still in the information data system, so recognizing and understanding them takes time. I think it won't be long before we see wider acceptance of bitcoin in the near future.

Topic: Government vs Bitcoin - page 7. (Read 1188 times)