How big is the role of the government in the development of Bitcoin? - page 4.

Gheka

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Quote from: rodel caling on May 10, 2019, 06:45:25 AM

Quote from: coinluck43 on April 02, 2019, 10:07:28 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?!

Of course government have big role for the development pf bitcoin worldwide because without permission of each country to use bitcoin as legal tender to buy things and very things in that way bitcoin is useful currency.

Indeed, government really has a big role in the development of bitcoin because they are characters that can give bitcoin a huge space to grow, with their permission, many new investors can start pouring money and participating in bitcoin, since then the value of bitcoin can increase dramatically over time. However, very few countries acknowledge bitcoin until now when they cannot manage it, their purpose is always very clear, managing people and collecting taxes from bitcoin's activities, they have no intention of helping bitcoin grow

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Quote from: coinluck43 on April 02, 2019, 10:07:28 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?!

Its nice if the Government understands and accepts it, but its not required. In most cases Bitcoin ends accepted in spite of the government, or more precisely because people are using it anyway.

In the end, the community is the main driving factor.

Also in theory most governments are composed by people from the community anyway, so if everyone is using Bitcoin eventually they too, will reach the government and replace those with the old mindset. Adoption is but a matter of time, and critical mass.

ghost424

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Of course the role of Government in the development of Bitcoin is not considered because what can they do is to provide the limitations and necessary rules and regulations in their own countries.

rodel caling

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Quote from: coinluck43 on April 02, 2019, 10:07:28 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?!

Of course government have big role for the development pf bitcoin worldwide because without permission of each country to use bitcoin as legal tender to buy things and very things in that way bitcoin is useful currency.

Ayiranorea

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Governments have a big role with the development of bitcoin. One example is the support that the cryptocurrency network got from Japan. Soon after the adoption of bitcoin by Japan there is a big change in the entire market. In my understanding when governments help with massive adoption there will be more number of users making it function perfectly and the scams can also be eliminated. Here only complication is the decentralization, when governments support the growth automatically they try to take it into their hands which completely destroys the market.

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How big is the role of the government in developing Bitcoin?

You judge that the government is something that does not need to be considered, but the government greatly influences bitcoin in various countries, so government approval is needed to own and adopt crypto currencies and only people can do something about it.

jak3

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A Government affects the bitcoin economy a lot. they have done it multiple times. from banning bitcoin or to make it legal in some countries it's like waves of people like we see in beaches. I do not care about its price or if it is legal or not. I am still gonna use cryptocurrency payment and even gonna teach my kids how to use it. I see it as smart people's community.

nutella_11

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I think that the government could appeal to popularity of Bitcoin. But I'm not so sure if it could appeal to its development. It would be great if the governments accepted Bitcoin as a payment method, but it would be really economically complicated operation. In my country (Poland) there are some real places where you can pay with cryptocurrencies (in this example I mean FuturoCoin), but I think there would be more of them if the government legalized Bitcoin.

incomefromcoins

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Government forming cryptocurrencies regulations improve the crypto market all the development of crypto is in the hands of government forming crypto guidelines which help for new developments

ljane

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Now some countries who have accepted Bitcoin as a payment method or even cryptocurrency as a whole has its economy breaking walls. Since I joined this cryptoworld I've seen so.many countries going into it and it had helped them. The government had to provide whatever it takes to go into bitcoin but they are not doing it.

CBANX2

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Government plays the role of a decision maker because if Bitcoin is accepted by the government then it will be regulated by the legislative system and beauty of decentralization will be lost and practically it is not that easy because to accept Bitcoin in mainstream market demands huge amendments in the current traditional financial system. For complete acceptance Bitcoin still, have a long way to go...!

maxreish

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When you tend to understand well the flow of cryptocurrency, it is really hard that a particular government will accept bitcoin. If ever that happens, I guess they will have some conditions and regulations before accepting it. But I may agree that they will have a big role for the development of bitcoin as to the different aspects.

CryptoBry

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Quote from: Choyor on April 10, 2019, 05:24:13 AM

In fact Bitcoin remains alive even though it is not legalized by the government in some countries, but the role of government is very important for Bitcoin growth evenly, we can imagine when the government supports and legalizes the full existence of Bitcoin, then we can confirm if mass adoption Bitcoin will occur so that it will increase the value of Bitcoin itself.

In the ideal world dreamed by the man named Satoshi Nakamoto, the government should have a very minimal role in the development, spread and use of Bitcoin as it is supposed to be peer-to-peer and decentralized kind of thing. However, we are living in the real world where the government has the say on almost everything in our lives much more so on any financial system in existence. Now, instead of fighting the government the industry has no choice but to work with it except in cases where it is hostile and adamant against Bitcoin.

As shown by countries like Japan, Switzerland, South Korea and many more, there would be bigger growth and positive development if the government is friendly and is making sure that the field is fair and that all players are not eating each other. In other words, regulations in place for Bitcoin or cryptocurrency can be a big catalyst for its spread and use rather than being an agent to curtail it.

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Quote from: coinluck43 on April 02, 2019, 10:07:28 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?!

Development of bitcoin is from the developer and the users not from the government, what is their part to bitcoin is the growth because if they start accepting this currency in their regions then for sure the use of each cryptocurrency will grow and same as the economy so this means they are the hindrance on why the bitcoin growth is slowly and short in progress

Finestream

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Quote from: Falgorn on May 09, 2019, 12:10:18 PM

Of course, the role of the government in the further development of cryptocurrency is not only big, but crucial. Cryptocurrency will not be able to further develop as a means of payment if the government does not legalize it. It will simply remain at the level of citizens, since the infrastructure for its use as a means of payment will not develop.

Agreed.The government still holds the most powerful decision if they will legalize bitcoin then it will surely followed by its mass adoption.People will gain more trusts in bitcoin knowing the government has given its full support to bitcoin already.Eventually the number of bitcoin users will increase even more leading to an increase of its demand and supply.

Falgorn

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Of course, the role of the government in the further development of cryptocurrency is not only big, but crucial. Cryptocurrency will not be able to further develop as a means of payment if the government does not legalize it. It will simply remain at the level of citizens, since the infrastructure for its use as a means of payment will not develop.

Carrelmae10

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..i think both of the two factors,thr government and the community have played an important role in the the develooment of bitcoin..Government who legalizes Bitcoin and mandatory governs its constituents to fully accept and use Bitcoin in a day to day transactions,but of course excising tax to those who earn in Bitcoin..and the community who fully adopt the use of Bitcoin so that the demand of it will continue to increase in such a way that Bitcoin will become more resourceful and more convenient to use other than any altcoins..

Anonylz

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I don't really see any other role the government needs to play in the development of btc aside legalizing btc in various countries and the introduction of some rules and regulations to make btc and the entire crypto space more secured for everyone to get in,
Btc as it is has done a great job over the years now without government interference whatsoever, most citizens in some countries want to be part of the crypto space but because of their government restrictions they are unable to be a part of it, that is one major role government needs to play, the more people can come into crypto, the more adoption.

Nunoluck

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Quote from: coinluck43 on April 02, 2019, 10:07:28 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 although without government help, bitcoin development will be fine. I remember when most of country deny bitcoin existance but in fact bitcoin development growth is still good. But if government help the development of bitcoin then the process will be faster. Actually I hope government help the development of bitcoin but if the government don't do that I think it is still fine for bitcoin.

qwerty6274

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If the state buys bitcoin, then it buys large volume, which means it is good for bitcoin. I don't think that Bitcoin can and should be somehow regulated by the state. If you figure out how to do it, then Bitcoin will become the same as the current financial system, that is, fragile and unstable

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