How big is the role of the government in the development of Bitcoin? - page 5.

bhabygrim

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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?!

Government will always be a huge impact in Bitcoin. Once they accept it or Ban it.
Bitcoin will rise if they accept it and when they ban Bitcoin the value will drop. The good thing is when they accept it. It will be a mass-adoption and Bitcoin will be popular and that will help all of us Bitcoin user.

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Quote from: KennyR on April 10, 2019, 12:04:09 AM

Governments have a very big role in the growth of bitcoin, because they are in the role to give legal support to bitcoin usage. When there is legal support from government without any interfering into the decentralized functioning growth will be good, also this way of support is good enough to get some tax on the transactions made using cryptocurrencies.

And exactly how they are going to get taxes out of bitcoin transactions when they do not have control of the bitcoin network? Are they going to create their own wallets in which they will substract taxes from every single transaction that you make? And even if they do that how are they going to force people to use their wallets when there are free wallets out there that do not charge any kind of tax?

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Quote from: bering on April 10, 2019, 05:31:22 AM

The answers of questions this thread already answered by OP himself that government have important role to determine development of bitcoin in the those countries because if government act positive or legalize crypto then the people on those countries will starting to use bitcoin with eventually bitcoin are more and more popular and it will have positive impact to all of bitcoin users in the world

Thats right and its influence can also be negative, so I always fear that the government, making laws about crypto or even making statements can make the psychic and feelings of users change, and certainly will affect the market..

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Quote from: Choyor on April 10, 2019, 06:24:13 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.

Right. Through the help of the government, bitcoin will be more acknowledged by the people and may gain mass adoption in the future. Once the government declare the legalization of bitcoin, then it will be automatically followed by its mass adoption. So the role of the government as a whole is very much important for the continuous growth and value of bitcoin.

Choyor

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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.

Gabteb

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Governments are mostly do nothing to support Bitcoin at all and only some countries like Japan understand BTC is the future of the economy and governments who understand this will support even with the development, we see big adaptation is coming step by step ,we see everyday new sites accept btc.

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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?!

The community makes the government without a policy but the government makes the community with a policy. We all know that without law no community or nation or country records any progress. The government is an agency of state/country and this means that the government is more important in role playing in the advancement of Bitcoin than the community. Once a government backs a project, it becomes a major concern among the community. We saw how Bitcoin was crippled in China in 2017 because of government banning it. The community was prohibited from trading in it.

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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?!

Both government and the community plays a vital role in the development of bitcoin in a certain country. In some restricted country, it still needs government approval to possess and adopt cryptocurrency and only the community could do something about it. If everyone would do something to make things possible, it would be easier for every country to adopt bitcoin.

Capt00

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Bitcoin will have a development itself even there are some countries that prohibit bitcoin to use because of their government against on this platform. The important of bitcoin has a mass adoption to have a growth value and of course through government maybe it will contribute if they did not ban bitcoin. Meanwhile, bitcoin will grow without the help of government but I think it takes a longer time.

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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?!

I guess first of all enthusiasts must start lobbying it, spreading it and then government will pay attention to crypto.
Any development could be possible after we proove to the government that we need it.

bering

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The answers of questions this thread already answered by OP himself that government have important role to determine development of bitcoin in the those countries because if government act positive or legalize crypto then the people on those countries will starting to use bitcoin with eventually bitcoin are more and more popular and it will have positive impact to all of bitcoin users in the world

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We do not need governments for Bitcoin's evolution. For about ten years now, the ecosystem has been able to create and develop itself without the help of any government or other institution.

In terms of adoption, yes, it would indeed help Bitcoin to be used more and more, but we can do it without it. It's just a matter of time, you don't let yourself be overwhelmed by the fact that all these regulations help Bitcoin because it's not true, it's actually the opposite.

If we build a decentralized environment, whether, in the form of currency or something else, it is not to let in those for whom we are trying to get rid of.

DoublerHunter

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Every country has a different perception of bitcoin by their government, just like what happens in my country and luckily they recognized bitcoin as a digital currency and it might be alternate use to our local currency. It has a big impact on the development of Bitcoin to have a friendly government on bitcoin because it will cause mass adoption on bitcoin. However, sad to say that not all countries are the same thinking on Bitcoin.

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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?!

The government certainly has enormous authority in determining the direction of the future of bitcoin. The government can decide to accept and prohibit the use of Bitcoin. When Bitcoin can be accepted by the government, it is very likely that the price of Bitcoin will increase and when Bitcoin is banned by the government it can make Bitcoin decline. it is a systematic thing and the Government has an important role that cannot be eliminated. Government support for Bitcoin will determine the direction of the future.

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Governments have a very big role in the growth of bitcoin, because they are in the role to give legal support to bitcoin usage. When there is legal support from government without any interfering into the decentralized functioning growth will be good, also this way of support is good enough to get some tax on the transactions made using cryptocurrencies.

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Quote from: Beerwizzard on April 03, 2019, 07:43:33 AM

TBH if government is accepting crypto it doesn't make any difference for the crypto community. But different kind of bans may easily create FUD. Many countries are not banning cryptocurrencies and organizations are free to accept it but no one really cares about that and crypto payments are not really popular.
The only thing that matters is a legal infrastructure to the already existing capital, which we can see in Bakkt. The rest doesn't matter.

Some governments can afford to not care about bitcoin as a way of payment because compared to must currencies and payment methods bitcoin is still very small, but the technology of bitcoin is so good that it is almost impossible it is going to remain that way for long and by the time they show an interest in trying to stop bitcoin it will be too late, it is likely that at that point we will see many countries banning bitcoin transactions but even that will not be enough to stop bitcoin.

plvbob0070

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There are countries where bitcoin is legal but the government doesn't really care that much and support bitcoin. But if there's a government that will legalized the use of bitcoin and are so into bitcoin, they might control the use of it in their country like putting up some rules and regulations, and monitoring it. Though announcing that bitcoin is legal can bring much attention to people especially businesses.

Dudeperfect

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Well, I believe that most of the governments have their policies regarding extreme control especially on the financial sector of those respective countries. However, there are some countries like Australia where students are exploring cryptocurrency and blockchain technology in their academic curriculum itself. I honestly believe that governments should look at this technology in a positive way and ensure the best application of it in order to improve the domestic economy as well as international relations.

Indrawan77

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Somehow the bitcoin need the legality from the government, so government now play important part for bitcoin to grow, without the permit we can't make mass adoption come true, and without the mass adoption the bitcoin couldn't grow become bigger, the legality also could increase the trust from investors

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Legality easily attracts more people get into the usage of bitcoin as well other cryptocurrencies. The governments should not collapse the decentralized functioning of bitcoin and should provide legality. If that happens growth will be very big, even with few countries legal acceptance of bitcoin it has reached high. When majority does the same the growth will be promising.

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