Topic: Government+cryptocurrencies - page 5. (Read 975 times)

How can it be good for people when majority of cryptocurrency supply (in this case its Bitcoin) is being held by only a few?  We are only concerns on taxes, yet we don't see the larger scale issue.  Government are so careful on accepting/adopting this so called cryptocurrency because of the possible economic implications.  Government don't have any control on the supply so the market value can crash anytime those big holders decided to dump.  So they are carefully and slowly adopting cryptocurrency to make sure that it can be implemented without any major fall back of the economy if ever worst happen.



Indeed.

When people start to used and adopt this crypto money, government will follow and
adoption as a whole will take place.
The government will reviewed and start implementing necessary rulings in order to
still have authorities behind this cryptomoney.
The future still unseen there's no  certainty, however government needs to realize
and understand the benefits for the best interest of everyone.

Good for the people but not for the government to be honest.How they can collect tax when people can hide their transactions under privacy coins and also governments never let the people to use their money with full freedom they want to have complete control over it.So practically government may not support crypto currencies until they are forced to do by the adoption among the people.

Once they make laws about this one, then that it the time our freedom will put in danger but hopefully with a help of blockchain technology, we can still have the chance not to be controlled by any government despite of those laws.

There’s a big impact when government support cryprocurrency, anywhere in the world if crypto becomes more legal then that is good for all of us, the result of that will become more positive in the market and the economy will also be good and the cycle continues.

I can’t really tell you about building a whole country economy, I don’t know if that has proven anywhere, but I do know for sure that cryptocurrency can help those who wants to help themselves. You can choose to invest in cryptocurrency and be able to use it as a hedge when the economy of your country is falling.

I know some people would usually say that gold is better to use as a hedge, but I believe that cryptocurrency can serve that purpose as well and will even do it better. When you are using cryptocurrency the money you have in your wallet is yours and is 100% in your control, so it’s far much better than any other thing you will choose at this time.

We are the government. Everyone is. We only have leaders who lead the government. When the majority decides to support a certain ideology, the leaders of the government (us)  will succumb.  Evolution doesn't come easy. At first, it will be rejected,  but will later be accepted. The funny thing is that most of the concepts that has evolved over the years weren't pioneered by the leaders of the government. Crypto is new and unique. It's value is beyond what we know today. When more people begin to see, understand and implement the values of crypto,  there will be no need to worry about the leaders of the government.  Crypto will naturally be adopted.

Maybe we can say that, but on the government side, they still prefer the current system. They think that the banking system can be upgraded by using improvements to make it better than before. But maybe they forget that technology will always be invented, and the newest technology will solve the old technology problem. But in the future, the government will realize that they need to implement the newest technology so that they can develop and grow step forward than the other countries.

The problems you mentioned cannot be solved by Bitcoin alone, because a lot of those problems are due to human nature. It is in their nature to abuse their power and to manipulate their economy to try to stay in power. Politicians are destroying the future for our children, because they are building sand castles on debt. 

Bitcoin can make transactions in government more transparent, but they can manipulate that data too, by publishing wrong source data. There are also work being done to make the voting system more transparent and fair, by having people voting on the Blockchain. (making it immutable) 

I am fully in support of government giving crypto total support especially in some third world countries but I've come to realized until they beginning to understand why the current financial sectors being used can be enacted by using block chain technology, they will continue to duel in cons of the technology. With  greater adoption of bitcoin by many banks in Europe, I strongly believe it is a matter of time before we start seen the central banks deploying block chain technology in banking

I agree that the banking system is outdated and cryptocurrency is an inevitable future. But i can understand government. On the one hand, cryptocurrency is a huge potential for transparency and decentralization, but on the other it is a field for the black market. Since there are a lot of cryptocurrencies and it is impossible to keep track of everything, terrorists and attackers can use it for bad purposes.

Living in a country like that is actually kinda sad. If the government only to those people who have money, then it would surely be not profitable for those users who are living dependent in their jobs in the Cryptocurrency Industry.

I guess the only way to deal with governments like that is to tell them that there are a lot of ways for them to also gain profit without being robbed of their rights or placing to much restrictions with the use of Cryptocurrency.

Yes, agree. Because a bitcoin adopter can find all the fruits of bitcoin ecosystem without a nod from their government; basically bitcoin is designed to enhance our privacy hence expecting government approval for this case, is somehow spoiling the core purposes of adopting bitcoin itself. I guess most people have not understood this facts and concept of bitcoin which are related to privacy and trustless way of transacting and this could be the reason, they are still seeking support from their government only for purposes like easy buying and selling of bitcoins.

In short term, governments positive intervention will boost adoption of bitcoins but in long term it may work in different directions. So, adopting the environment where zero support from governments will help us to be effectively utilizing bitcoins as per our own directions rather than what others direct.


I guess they will not at any point of time as well. Because they simply target only taxes from people and definitely not bother about the better and secured economy of their people. If governments start studying about cryptos then definitely will plan up things will eventually lead to strong economy for their people and their nation as well. Because, individual's economy is the basic unit of a country's.

its already enough that a government supports its people with jobs or other needs even without the help or the support for cryptos because the country can still improve that way  .

support for cryptocurrency is only optional .  governments can also help find a way for the people to work from thier home and there are already type of jobs like that without any involvement of cryptocurrency whatsoever  . that can be considered now that we are in the middle of this pandemic  .

There are a lot of factors that they need to consider before the government allow the use of cryptocurrency in the market. We don't know maybe the government is scared to see those scammers or hackers to do crimes in the community and economy because it is a hassle thing for them to catch those criminals, that's why they still not finalize the regulation of cryptocurrency. Government are still not that knowledgeable about the advantages of bitcoin in the market and economy, they are not spending time to study it because we lack of support and promotion from other bitcoin users. But as we engage in a more advancement of technology, government should try to explore blockchain and cryptocurrency to achieve development.

I agree to strengthen our economy we need government to give support for cryptocurrency. Actually if all the population has a decent income,
the economy will advance on its own. But now the number of unemployed is increasing, one of the best solutions to legalize cryptocurrency by
the government. Because of the fact cryptocurrency can provide an income feasible with investment or trading, besides investment or trading
cryptocurrency can be done at home. So it is in line with the government which encourages its residents to work from home, to prevent the spread
of COVID-19.

That is all we need especially at this time where contactless transactions are much important. But have to put into the realization that some government leaders are taking their steps as well to promote crypto and put it on their trust list. In fact, some countries who band crypto before have already opened the door for it https://www.fxempire.com/education/article/the-next-cryptocurrency-evolution-countries-issue-their-own-digital-currency-443966.

This how they realize that their people need some transformation from FIAT to digital currency it actually works find and effective. But have to give concern on how we can escape from scamming and fraud that we saw their massive growth as people seek to look at an option for online transactions.

Actually the government is aware of the good potential of cryptocurrency, which is why some governments have begun to open with crypto, although not completely because there are certain limitations. This is all in anticipation of the government to protect its diverse citizens. Most people are able to adapt well, so they can minimize the risk of loss, fraud, etc. While some others just hope for profit without wanting to learn eventually get stuck and lose a lot.
After all, the negative side is true, right? although some of the news is hyperbole that makes the general public affected and view the crypto world as a dark world.

Check out Marshall Islands national crypto sovereign coin

Highly agree on what you had said on here which this is definitely the reality that we are facing on and also talking about on ideal place would really be just stuck out in dreams and cant really be happened.

We arent generalizing in all governments in the world but this had been always the case which self-interest would comes first before anything else.So im not really that expecting

when it comes to collaboration of things that is opposing into their prime motive in the first place.

Even now that bitcoin isn't that big, we got a lot of scam related activities and I'm sure the government has already think if they will going to promote bitcoin in the public. Understandable how the government want their citizen to be secured financially by not letting crypto be just in their way. We can't definitely stop the scams, even if you pass a law after crypto.

Bitcoin as a help to developing economy is just a small piece compare to other markets, bitcoin isn't even that big in the outside, we are thousands of user but just a few if you look closely.