How big is the role of the government in the development of Bitcoin? - page 7.

pixie85

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Quote from: dothebeats on April 03, 2019, 07:04:03 AM

Personally I view the government as the 'bridge' for people who are concerned about the 'legal' status of bitcoin and other services linked with the said cryptocurrency. Sure, bitcoin can flourish without government intervention and such, and that is in an anarchic situation wherein no government is present. However, with the present society teeming with government intervention and control, people need to be assured that they are 'taken care of' even though in reality, they don't need the loving hands of the government to use bitcoin.

Although we know that it's a different case when it comes to third-party services that deal with bitcoin.

Most people want this assurance and you can observe this happening on every market including the great market of electronics where big stores make you pay more to insure your new product for another year. People prefer to pay in advance for a fault that hasn't appeared yet than take their chances and repair as it happens.

People prefer to send money to government pension funds than keep everything secured and invested in land or real estate. Lazy people and those who want others to take care of them lose a lot of potential profits.

Ultimist

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Certainly. How crypto will develop in a certain country depends only on the government. If the government supports crypto, it will develop faster.

shesheboy

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not really big . bitcoin is online and decentralized which means a government can do much about it .bitcoin can continue grow and develop on its own . while govenment acceptance can add more rate to increase the adoption because they can help allow local makets or local exhanges to accept bitcoin to thier services . i forgot to mention the local banks , banks also influence alot if the government would allow it . all of these are not only good for the development but it can also help existing bitcoin user's to make thier live's more easier .

South Park

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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?!

It is the other way around, if governments decide to regulate bitcoin in their countries is because the user base has grown large enough for them to notice and they will do this not because they are interested in supporting the technology they will do this because they are interested in the taxes that they can get out of the people using bitcoin, but what they do not seem to get is that people are getting tired of being monitored by governments all the time and many are not going to comply.

Sebas.tian

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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!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

The government has the capability to pacify any situation regarding cryptocurrencies. They could also regulate the flow of money by making exchanges compliant to the rules. If a country has a government with good terms to cryptos, it could potentially fund researches to further its development.

Malsetid

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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!
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
What do you think, the Government or the community who play an important role in the development of Bitcoin?!

It's basically the same. The community provides the demand for btc and it's growth will basically depend on mass adoption. And it's survival also banks on the government either showing support of just indifference towards bitcoin. You can't have growth while the people ate afraid to use btc because of crackdowns and illegalization.

Bl4nk

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in my opinion the role of the government with bitcoin is actually not too important for them or not officially, right, if their role is to develop bitcoin officially then the future of people will be good, of course if the government is officially bitcoin in all countries.

dothebeats

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Personally I view the government as the 'bridge' for people who are concerned about the 'legal' status of bitcoin and other services linked with the said cryptocurrency. Sure, bitcoin can flourish without government intervention and such, and that is in an anarchic situation wherein no government is present. However, with the present society teeming with government intervention and control, people need to be assured that they are 'taken care of' even though in reality, they don't need the loving hands of the government to use bitcoin.

Although we know that it's a different case when it comes to third-party services that deal with bitcoin.

vucuong16101997

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But it will not only focus in a certain country in this world. I know that government intervention can affect the development of BTC, but it is difficult to synchronize all countries against BTC. I think government intervention is difficult to discuss here ....

Akagum

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Of course you are right.
I believe that one of the reasons why cryptocurrency is not yet accepted generally as a payment medium by merchants even in marketplaces is because of government indiscretions to cryptocurrency.
If it happens today that government signifies interest to support cryptocurrency, it would affect the cryptosphere positively .
Because it will foster mainstream adoption.

Beerwizzard

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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.

TIDOVEE

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Many government do not have time for bitcoin, of which many has not even been properly enlightened about it. I may not trust the government of my country when it comes to that because they may make it more difficult for users. They may even try to ban it with the mind of seeing it as a scam.the best they have done so far is bringing internet and good power supply.

mrdeposit

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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?!

You are talking as if governments are something unnecessary. lol Governments are those who already set the rules in our lives. They can make it necessary to making decision about anything unnecessary.

thirdlight

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It seems to me that a lot of things depend on the government, and especially the life and development of Bitcoin. And also its introduction in the lives of ordinary people. It seems to me that as soon as the state approves and immediately there will be growth.

kiansantan

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Bitcoin never gets legality from the government. The development of bitcoin is obtained independently without government intervention. So there is no participation from the government. Everything works like water flows as is. Because bitcoin is decentralized.

lyks15

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Government has a very big role in developing bitcoin. Because government have a power to control anything. If government will approve the acceptance of bitcoin in a country it will be a very big help to develop bitcoin because many merchant will start to upgrade their system to make a bitcoin acceptance. And this is good for bitcoin develooment.

traderethereum

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The government take a big role in the development of bitcoin because they as the regulators in the country will give big attention to their people. Their people can know that bitcoin will be allowed in their country, so they don't have to afraid to use bitcoin again. Besides that, by approving from the government, it will give a chance to some institutes to teach people about how to use bitcoin and another important lesson so people could start to use the benefits from bitcoin.

r1s2g3

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Government can influence the market even without investing. A favourable regulations will cause massive adoption . A neutral position will allow the people to openly spread the crytocurrency adoption in the country . If government declare it illegal then adoption may or may not happen depending upon the economy of the country.

reda

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Not even a single penny investment on bitcoin by government side. All the government and politics want to scratch the moment from the people and enjoy the profit by that way but people still we believe on s*** government who doesn't care about us at all.

May be on ripple or any other stable coins may receive the investment to the project.

jakelyson

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The bitcoin community and its developers are the ones developing Bitcoin. The government has no role in it. The government though can greatly affect the adoption of bitcoin in their respective country. If they allow or ban bitcoin can deeply affect adoption progress. But nonetheless, bitcoin cannot be stopped because it is decentralized and no central government can stop it.

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