How big is the role of the government in the development of Bitcoin? - page 8.

muslol67

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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?!

It's a bit complicated for countries to accept Bitcoin or any cryptocurrency. It's just not possible to say we accept. There will also be legal arrangements and a number of sanctions for this.

Most importantly, a tax-related issue will come into effect with these legal arrangements. Tax will inevitably create a conflict with the decentralized structure. There will be a record on behalf of the state in order to provide tax. [Invoice as an example]

So in theory, even if it seems simple, in practice it is not very easy.

vv181

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Developments and adoption aren't the same things.

Anyway, how could governments play a big role in something beyond their favor and control(decentralization)? That would be sane if a centralized entity goes all in onto decentralized things.

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

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

Bitcoin was built in the spirit of decentralization and trustless, and it also an open source application. Surely the community is the main important role.

IamAltcoinfan

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homt.net

Government has done nothing for bitcoin development in reverse government started to bring down bitcoin and other crypto currency growth . I think community playing major role in bitcoin growth . Most of the government are against cryptocurrency and its community soon they realise the power blockchain technology and need of cryptocurrency will start to endorse crypto in near future

slaman29

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Huh? How does an official announcement to accept Bitcoin help development? It can help with adoption maybe, and development of business in the country that uses Bitcoin, maybe even promote blockchain development within the country if startups all do their own research and build businesses.

But all Bitcoin development has happened by voluntary developers. Nobody of them cares if goverments "allow" Bitcoin or not. Or am I wrong here?

Herbert2020

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well your question is like asking how big is the role of river bed in flow of water in it! obviously if you put a lot of blocks in that river the water flows slowly with a lot of jumps and turns but it flows even if you build a dam!

that is the exactly the role of government it bitcoin's "adoption". if we see reasonable laws and regulations something like Japan for example, then obviously we will see a lot more adoption at a much higher speed but if we see roadblocks then the adoption will occur but at a slower pace.

in the end bitcoin is created to be decentralized and never need any government and if someday that changes, that means failure of bitcoin. luckily so far we have kept it decentralized despite all the attacks.

Haunebu

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It is quite obvious that the government will always have a huge impact (Positive or negative) on the cryptocurrency market at the end of the day.

Government accepts crypto: Market rallies
Government bans crypto: Market dives
Government regulates crypto: Market rallies or dives

The ironic fact is that a centralized government can affect a decentralized cryptocurrency market in a good or bad way.

alisafidel58

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It plays a big rule in the future development and adaptation of bitcoin. If a certain government says that they will legalize bitcoin almost all of the businesses there would adopt bitcoin to be part of their payment system, which is good for bitcoins development. If the country flourish will legalizing bitcoin other countries might follow as well.

niisarearning

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I witnessed in my country form last crypto ban ( Crypto currency became not legal tender currency anymore) . Then After i have seen lots of depreciation in market . Couldn't able to sell most of my holding . Even government started to harass crypto companies . I think government also plays major role like community . I think both plays equal role community as well as Government .

Bitinity

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Once a government says that they are going to legalize bitcoin then it will affect on mass adoption from the people of the country. Surely, the number of people who involved in bitcoin will increase time to time.

Noa_Amable

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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?!

it is not that easy to 'announce accepting btc in the country'. it requires proper regulation how to treat its relations between people, merchants, tax authorities etc.

coinluck43

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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?!

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