How big is the role of the government in the development of Bitcoin? - page 2.

SaShiRaJaVu

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Quote from: kingpin4321 on May 24, 2019, 02:35:20 PM

Yes the OP is correct about this the government if in cooperation has a huge part to play in bitcoin development and acceptability.
The government involvement would trigger a big encourage to citizens of that particular locality to get involved in cryptocurrency

There would be a major influence when it comes to investors and financial institutions investing in bitcoin if there is a clear regulation from the government regarding its legality, majority of them are not involved in the market simply because they are not sure how the government will proceed with the things in the future, government does have a role in the adoption of bitcoin but not in the development.

goaldigger

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Quote from: coinluck43 on April 02, 2019, 11:07:28 PM

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
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What do you think, the Government or the community who play an important role in the development of Bitcoin?!

Bitcoin's number one influencer and implementor would be the government. It holds everything about it including legalization and development of it. Once the government is involved, it would rather be so good or so bad. All things works perfectly if its on the bitcoin's side and vice versa.

BL46K 7193R

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Yes, I think that the government's role in the development of Bitcoin is much more. The government can play a very important role in the development of Bitcoin. The government can contribute a lot to Bitcoin's legitimate activities in a country. Also, the government can play a very important role in increasing the acceptability of Bitcoin, making it easier to use. If the government wants to keep a big deal for the development of Bitcoin.

cryp24x

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The acceptance of the government plays a very important role in the development of Bitcoin on that country. Well, if the government declares that Bitcoin is allowed and it can be freely used as alternative mode of payment. I guess research and development will also be initiated and supported by the government. Though rules and regulations will be implemented, it will surely secure and protect the transactions being done.

drumamat

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Quote from: Janation on May 25, 2019, 03:00:21 AM

Quote from: kingpin4321 on May 24, 2019, 02:35:20 PM

Yes the OP is correct about this the government if in cooperation has a huge part to play in bitcoin development and acceptability.
The government involvement would trigger a big encourage to citizens of that particular locality to get involved in cryptocurrency

How can you say that?

In our country, Bitcoin is legalized, it can be used everywhere but the thing is that only a few use it. Despite the fact that it is legalized, a few use it so I don't think the government has a huge part to play, it is still us users that play a huge role. The government might be the strong one that will let or not let people use BTC or other cryptocurrency but without us investors and users, I don't think their role is that important.

I think in the symbiosis of the government and the community, the momentum for price growth will be the highest.The government has more money than the community,so the direction vector is set by the government.

kidoseagle0312

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Quote from: coinluck43 on April 02, 2019, 11:07:28 PM

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
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What do you think, the Government or the community who play an important role in the development of Bitcoin?!

Do you think this will be easy for the government to regulate it? because not all officials in the government will approve at once.
Because there are some will oppose for sure, then in the end majority vote before it happen. But if ever this will approve, 100% surely their citizens will use bitcoin to their daily lives and the stand market volume for Bitcoin will also increase.

Janation

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Quote from: kingpin4321 on May 24, 2019, 02:35:20 PM

Yes the OP is correct about this the government if in cooperation has a huge part to play in bitcoin development and acceptability.
The government involvement would trigger a big encourage to citizens of that particular locality to get involved in cryptocurrency

How can you say that?

In our country, Bitcoin is legalized, it can be used everywhere but the thing is that only a few use it. Despite the fact that it is legalized, a few use it so I don't think the government has a huge part to play, it is still us users that play a huge role. The government might be the strong one that will let or not let people use BTC or other cryptocurrency but without us investors and users, I don't think their role is that important.

guoyu78

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Quote from: coinluck43 on April 02, 2019, 11:07:28 PM

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

Anytime you heard the prediction of bitcoins to over $100k then never think that it is impossible. If the government from each nation starts supporting bitcoins then I am sure that even $100k would be reached. The centralized government plays a important role behind the development and growth of bitcoins.

Until now, bitcoins are not treated as a legal mean of payment which makes a lot of community lack their faith in bitcoins but you surely can imagine what would happen if each of the government declares that bitcoins are a legal mean of transaction and all blockchain activities should be considered legal. That day itself bitcoins would take a huge boost and more and more peoples would continue getting into the blockchain technology.

kingpin4321

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Yes the OP is correct about this the government if in cooperation has a huge part to play in bitcoin development and acceptability.
The government involvement would trigger a big encourage to citizens of that particular locality to get involved in cryptocurrency

adzino

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The Government does play a big role in the development of Bitcoin. Unfortunately, most of the government in the world aren't crypto friendly enough. There are people out there that trusts the government with their full heart. Now if the government accepts crypto currencies in their country, people of that country will get a better understanding and more freedom in using crypto currencies. This in turn will increase the adaption of crypto currencies which will help in future development.

val8890

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The government plays a huge role in the development of Bitcoin, which affects its success or decline, as well as the entire cryptocurrency market entirely, the quality and level of cryptocurrency depends on it

Kiefner

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Yes, the government plays a role in the development of bitcoin. When a country accepts bitcoin, it expands its capabilities and people treat bitcoin differently. They begin to understand that there is no threat and that their government supports bitcoin. And it certainly has a very good effect on him.

fiulpro

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Government is something that can actually make or break Bitcoins , since you already know in places where Bitcoins is banned the government really doesn't allow any trade regarding it thus people cannot use it for any purpose and we loose a part of traders and holders .
If government integrate themselves with Bitcoins and cryptocurrencies then people start trusting it and thinking yes it is not a fraud , and even the conservative ones starts getting confident about indulging in it.
Therefore government is the most important factor when it comes to the Bitcoins related to a particular country , they don't control it but at the same time they control the people who wants to trade in them.

SirLancelot

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Quote from: HiBlocks on May 23, 2019, 12:55:22 AM

Obama once said this about Bitcoin..... "its like having a Swiss bank account in your pocket"....he is correct. Since Banks are already in bed with many governments, Banks will never allow for a government to embrace Bitcoin.

That actually makes sense. Bitcoins can be compared to Swiss banks as the similarities between both of them has some kind of match. Peoples store then excess funds in Swiss bank and so is been followed with bitcoins. As long as I know, there is not limit and restrictions to use our money in the Swiss bank which is followed by bitcoins. governments from each country might be knowing the benefits behind bitcoins but they are much wise and they would never let decentralized system ruin their centralized payment system. Surveys state that if bitcoins are legalized, they would minimize upto 60% of the fiat currency trades which would not at all be profitable for the governments.

FlightyPouch

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Quote from: Dontme on May 23, 2019, 10:33:31 AM

Quote from: coinluck43 on April 02, 2019, 11:07:28 PM

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
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What do you think, the Government or the community who play an important role in the development of Bitcoin?!

I think government accepting bitcoin won`t gonna happen because bitcoin is decentralized, so, bitcoin will lost its independence and the government will make rules about bitcoin. After all bitcoin don`t tax and surely when government controls bitcoin, tax will come with it.

Well if they want to tax Bitcoin, that will depend to people whether they will be using it or not. But right now I don't think that will be a thing since most of the countries don't mind while others do not want Bitcoin in their country. I don't mind them making rules about it as long as we can use it in our country.

Artemis3

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Quote from: bustedsynx on May 23, 2019, 12:00:18 AM

There is no question that there is a big and important role of government for the existence of Bitcoin, especially the United States. Just follow up the Huawei case. The US instructed US companies to stop dealing with Huawei. Google obliged and will block Huawei phones to Google apps. Imagine the US government going all-out war against Bitcoin.

It would go underground but people would keep using it. Worse, they will lose any chance of regulation, since anyone involved would be going against the law anyway. There is no physical bitcoin company, there are developers, but like the past, Americans would simply stop getting involved or move elsewhere, or work anonymously.

China has long used a sort of Play store clone that hasn't seen much use abroad, maybe now Huawei will bundle this for all their markets. Basically has all google apps plus a few more used in China. This is a lost battle.

BTW: I have a cdma Huawei feature phone from 2007, its on its original battery too. And yes, its working. Talk about quality...

Dontme

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Quote from: coinluck43 on April 02, 2019, 11:07:28 PM

In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

I think government accepting bitcoin won`t gonna happen because bitcoin is decentralized, so, bitcoin will lost its independence and the government will make rules about bitcoin. After all bitcoin don`t tax and surely when government controls bitcoin, tax will come with it.

Bulgarianhawk

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Let's think about what governments can:

1) make btc legal and claim it publicly
2) buy btc as as internal reserve (which will be very wise)
3) introduce cryptos in governmental systems
4) make cryptos non-taxed

Or government can come up with its own crypto and try to promote it as internal currency. That would also be a great option for the government, as they would be able to control the inflation/deflation rate. To be honest, separate cryptos for separate countries seem much more likely than one global currency in the next decades.

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Quote from: MFahad on May 23, 2019, 06:26:10 AM

Quote from: ?? on ??

I think so too, the role of the government is very crucial at the price of bitcoin because, if the government approves other bitcoin or crypto then that is good news

Exactly, if government approve bitcoin in country, then bitcoin price will be reached too much, just like in Iran, Iran's government approve the bitcoin and then you can see bitcoin price in Iran is highest, it is $26000. That's why some government not accept bitcoin in their countries, because they can't control bitcoin price.

Very few countries around the world have given the legal support, and what we see with Iran is an exception. Once such a kind of price difference between the rest of the world and India took place which is purely on the sudden increase in the demand. Same time government that has accepted and adopted in the right way have helped with positive growth of bitcoin and has helped people know about cryptocurrencies.

MFahad

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Quote from: ?? on ??

I think so too, the role of the government is very crucial at the price of bitcoin because, if the government approves other bitcoin or crypto then that is good news

Exactly, if government approve bitcoin in country, then bitcoin price will be reached too much, just like in Iran, Iran's government approve the bitcoin and then you can see bitcoin price in Iran is highest, it is $26000. That's why some government not accept bitcoin in their countries, because they can't control bitcoin price.

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