Regarding cryptocurrency that can save a country's economy, in my opinion, it might come true. Imagine the country
legalize crypto for investment or even as payment tools. Surely many residents can improve their economy when prices
cryptocurrency goes up. In contrast to countries where the government banned crypto and only allowed its residents
investing and making transactions in fiat currency only. There is an economy whose population is decreasing due to inflation.
Topic: Government+cryptocurrencies - page 3. (Read 975 times)
So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger?
The fact is moving your asset to cryptocurrency will not save any country, it is the opposite of that if all the assets are stuck in a global platform it is not going to do any good for the country but it may help the individual investor if the market goes higher, so the idea of cryptocurrency saving a nation is just farce. A right investment can make some rich but you cannot expect everyone to be a billionaire. So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger?
The fact is moving your asset to cryptocurrency will not save any country, it is the opposite of that if all the assets are stuck in a global platform it is not going to do any good for the country but it may help the individual investor if the market goes higher, so the idea of cryptocurrency saving a nation is just farce. A right investment can make some rich but you cannot expect everyone to be a billionaire. 
I don’t know for other people, but there is a way I view this – there will always be countries that their economy is going down; when the economy of one country is progressing and moving up, there will be countries that will be seeing the opposite of that. That’s just how it is.
So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger? Well, I don’t think so. Economy being stronger is a whole different thing.
So, if you think that cryptocurrency can save your country, imagine that the whole countries in the world and everyone is making use of cryptocurrency, do you think that it will make every single person in the world rich and also make the economy of every country to be stronger? Well, I don’t think so. Economy being stronger is a whole different thing.
Volatility can be debatable because in my opinion because of the fully established cryptocurrency have a good price average, what I mean by that is that most of the prices will not go down real hard. In regards to money laundering and illicit activities committed through cryptocurrency, they are a problem but I think they can't be unsolvable.
I'm not sure what you mean by debatable
But it seems that you refer to squashing volatility into, say, single digits. This is possible if Bitcoin's value (or value of any cryptocurrency, for that matter) is determined not through currency exchanges (like now) but in real markets (like in a proverbial grocery store) where you can buy things with it and sell them for it. In this manner, people will have a solid frame of reference, i.e. they will know what one bitcoin is actually worth in real terms. Only in this capacity, i.e. Bitcoin as a real currency, it won't be as volatile as hell
My take on this is that we will see it in the future, the coexistence of government, banks and cryptocurrencies. As the normal saying goes about beating, they'll join if they have no choice anymore. We're starting to see that there's equilibrium for most countries that started regulating it or no reaction at all but is ok with it and, those that don't like it or likely to ban it are not that many.
And for those countries that are going to label their digital local money as cryptocurrencies, they can do that as they wish but it won't change the fact that we know what cryptocurrencies really are.
Cryptocurrencies can never take over the traditional banking system to be honest. Both of them can start to coexist where cryptos are treated as assets and the INR/USD/EURO etc still as the official traditional fiat currencies.And for those countries that are going to label their digital local money as cryptocurrencies, they can do that as they wish but it won't change the fact that we know what cryptocurrencies really are.
The countries in which the equilibrium can be observed even after introduction of cryptos are the countries that have regulated it and termed it as an “asset” or as “virtual goods” and not as a currency or money. Government of no country wishes to be left behind in terms of technical advancement, so I don’t think that many countries will even give a thought about banning cryptos.
Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government
What do you mean by legalizing Bitcoin as a transaction tool?
Maybe, you actually wanted to say that governments refuse to make it into a legal tender on par with national currencies so that everyone could pay taxes with it (since this is basically a definition of legal tender)? That's not going to happen, obviously. However, if Bitcoin along with its brethren is legally defined as property or property rights, digital or otherwise, you should kinda pay a property tax on it (at least, when you sell your coins and book a profit)
so for the time being there are only tax regulations because BTC is difficult to legalize in small countries because it will be a competitor with local currency.
No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.
This is spot on, definitely the government will try their best not to give cryptocurrency a leeway when it comes to supporting their citizens because at the end of the day, decentralization is the perfect opposite of any government.Believe me, I like cryptocurrencies a lot but this is not the right time. Government won’t be so careless to introduce something so volatile to the citizens which there global/international markets aren’t doing so well. The last thing they want to see is money being laundered, illegal activities being carried out and scam/frauds happening because they gave permission to a decentralized platform to take over during the pandemic.
I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.
Volatility can be debatable because in my opinion because of the fully established cryptocurrency have a good price average, what I mean by that is that most of the prices will not go down real hard. In regards to money laundering and illicit activities committed through cryptocurrency, they are a problem but I think they can't be unsolvable. I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.
Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government
What do you mean by legalizing Bitcoin as a transaction tool?
Maybe, you actually wanted to say that governments refuse to make it into a legal tender on par with national currencies so that everyone could pay taxes with it (since this is basically a definition of legal tender)? That's not going to happen, obviously. However, if Bitcoin along with its brethren is legally defined as property or property rights, digital or otherwise, you should kinda pay a property tax on it (at least, when you sell your coins and book a profit)
The government will be able to legalize cryptocurrencies only if it can control cash flows and receive tax from them. Tax is the blood of States. This is what they exist for in principle. If there are no taxes, there will be no States. Of course, now it all looks like a utopia, but who knows-maybe in one moment everything will change.
The problem is that tax instruments are not only aimed at sources of state revenue but are also used as a tool to regulate or achieve certain goals such as; drive investment, protect domestic production, and compensate for regulations, for example, the United Arab Emirates impose high taxes on the purchase of alcoholic beverages with the aim that only a few people can consume.
Many countries do not legalize bitcoin as a transaction tool but impose taxes on assets in the form of cryptocurrency even for cryptocurrency trading, the majority of almost all countries are taxed. We can reverse our mindset from not paying taxes because the government does not legalize cryptocurrency. Be paying taxes on our assets in the form of cryptocurrency and let's look at the changes captured by the government.
What does 'support' mean in this scenario?
Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.
No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.
Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.
No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.
The government will be able to legalize cryptocurrencies only if it can control cash flows and receive tax from them. Tax is the blood of States. This is what they exist for in principle. If there are no taxes, there will be no States. Of course, now it all looks like a utopia, but who knows-maybe in one moment everything will change.
Believe me, I like cryptocurrencies a lot but this is not the right time. Government won’t be so careless to introduce something so volatile to the citizens which there global/international markets aren’t doing so well. The last thing they want to see is money being laundered, illegal activities being carried out and scam/frauds happening because they gave permission to a decentralized platform to take over during the pandemic.
I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.
I agree to the fact that cryptocurrencies are capable of helping and saving a country’s economy in such times, but it is also capable of collapsing it even harder. The market is too volatile to be relied upon at such times.
Cryptocurrency not only overcome financial problems, but in its application can be for various things. economy, health, education, technology etc. If the government cooperates in adopting crypto, it is not impossible that there will be progress in various fields. venezzula, which had experienced a crisis, for example, can be helped. Can this pandemic crisis be helped by the adoption of crypto? the answer depends on the policies taken and the actions of the community
Depend who will be the government in your country, I think if some one know with bitcoin will be interested for adopting bitcoin as legal currency payment transaction. But if your country have government low knowledge with technology and digital currency will be not interested with bitcoin and altcoin as digital currency payment.
What does 'support' mean in this scenario?
Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.
No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.
Government support has been shown in quite a few cases. They've created legal definitions and frameworks to trade it. That doesn't mean they're going to endorse it though.
No government will encourage or facilitate its citizens to place their money outside their control. As long as there are governments they will pay and demand payment in currency that they control which means no crypto will ever fully take over while they exist, but they will always be keen to keep it in a box.
If government will accept cryptocurrency and give freedom to the people to use it ,i think many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.
believe me,its not a solution for current. just imagine by yourself,if a lot people put his money to one basket,what will happen ? for me,just one thing will happen,a bubble scheme, I think the 2018 bubble break is enough for crypto.
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and also about government + cryptocurrency, that is a complicated thing, considering that government is a sovereignty, it should be able to answer why they do not provide support to cryptocurrency
If government will accept cryptocurrency and give freedom to the people to use it ,i think many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.
But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.
As far as I know paypal is touching the bitcoins, they are trying to have it on their platform this is an innovation that the government should not be afraid to fight of, they got the power of the state. If government will accept cryptocurrency and give freedom to the people to use it ,i think many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.
But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.
If government will accept cryptocurrency and give freedom to the people to use it ,i think many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.
But, government are worried that legalizing bitcoins might also bring an increased number of hacks and scams in the market as right now hackers struggle to find a payment method that is untraceable and easily to accept from their victims. Bitcoins being decentralized are just too easy to use for hackers and once legalize they will be more easily available to everyone and hackers can just grow easily.I do believe than if bitcoins payments are adopted it will help in the current situation but the government have made their own apps and there are payment processors like paypal which gives the government full control over their citizens because of the centralized paypal system and also makes it easy to pay virtually since payments in cash is becoming an issue now a days.
If government will accept cryptocurrency and give freedom to the people to use it ,i think many people will buy and invest in bitcoi. Also it be a temporarry solution in our current siruation now.
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