How to make a win-win situation for both government and digital currency ? - page 2.

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legendary

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Government will come up with their own centralized version of their fiat currencies in the name of digitizing currency, also they will use blockchain technology to digitize their fiat into tokens. They might advertise those token as good as bitcoin or crypto but in reality all those token will be just worthless like fiat we have these days. It will have infinite supply and government will have full control over token addresses and tokens.

I don't think government will ever adopt decentralized currencies because there is no win-win situation for government in this.

jtipt

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Quote from: bitbunnny on October 03, 2017, 02:40:24 PM

I think Bitcoin regulation is win-win situation for both. Governments would make "order" on that way on Bitcoin market and have some control over it, but not full and centralized of course, and for Bitcoin that would mean more adoption especialy for businesses. Bitcoin users don't have to be afraid from regulation.

No, but isn't the while point of BTC being completely decentralized. If you even give a little control over to the government the while point of btc will be destroyed. That's what I think at least, and anyways government will never be happy with having only a partial control over currency, then will eventually try and take full control which will cause troubles.

pinkflower

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Quote from: bitbunnny on October 03, 2017, 02:40:24 PM

I think Bitcoin regulation is win-win situation for both. Governments would make "order" on that way on Bitcoin market and have some control over it, but not full and centralized of course, and for Bitcoin that would mean more adoption especialy for businesses. Bitcoin users don't have to be afraid from regulation.

Its in my own belief that theres no win-win with BTC. Regulations made upon it are easily eluded because by design, BTC was developed as a peer to peer electronic cash system. Its nature is to break borders and to be independent from the traditional financial organizations.

What would stop someone from creating a secret BTC transmission and conversion service for the darknet?

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Probably they will taxed it, every transactions with digital currency will have a tax thus making the transactions way higher.
Also, they would probably make every bank involved with digital currency - could be a bad thing and a good thing.
We will have more security with our digital currency unlike the present.

ItBeginInAfrica

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Sooner or later there will be a win win with them, because they have to use digital currency in future, actually many goverments had already many ideas about it, they can't stop the future, they have to become the future.

jamids

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think what the government can do to benefit from the cryptocurrency is to identify it as a digital asset and for them to have part of the transaction is to tax the platform involved in cryptocurrency since it is easier to tax a single entity than to find each bitcoin owner and have them report their income from it. The platform then would include the tax charges in the transactions so that they are not the only one bearing the tax charges. When there is a regulation like this, the people who are doubtful with bitcoin would then have trust of bitcoin since it already has a regulation and would eventually be part of the community. An additional demand to bitcoin would make its price increase. Through this way, it would be a win-win situation to both parties which are the bitcoin enthusiasts and the government.

cryp24x

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Quote from: jekjekman on October 03, 2017, 02:18:49 PM

Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think it is so hard to regulate something that the main essence is to be decentralize, meaning you want to control a thing that don't want to be controlled. I think the best shot for governments to do in this thing is to put a proper department or branch of their government in filtering cryptocurrency scene instead of banning or shutting it down as a whole because hindering it will not cure the cause instead it just worsen it.

We all witnessed in how modern technology really adopt from the real world to the world of virtual, and we are here to the point that in digital world we embraces the digital currency so meaning the force of strong digital police must born if governments really want to help their citizens in their country for the future cryptocurrencies.

I agree it is hard if to regulate if the main purpose of the government is to take over the digital currency themselves. But I think if they are too regulate transactions, I think it is not that hard. Government needs exchange platform to be licenses so that they can have access to the reports of these exchanges. And we all know people cannot take profit if they do not trade on these exchanges. So I guess government just need to go to exchanges and ban a p2p selling.

yugyug

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Government can take control if all the in and out and pee-to-peer transactions are crytpo based meaning no fiat currency involved it is out of their jurisdiction if no government owned transaction involved since all crypto currency are decentralized and owned by private individual. But everything needs money, the popularity rises of bitcoin and its value it is all because of money, we mine bitcoin for exchanging goods and services to the merchants and retailers but merchants want money. Money or fiat currency was owned by the government and you are using it so you are entitled and obliged for taxes. Cryptocurrency needs fiat after all and government need taxes too. For sustainability and win-win situation, tax is the answer. No tax, no crypto.

DeltaX

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

That will be difficult to find a win win solution to the goverment and the cryptocurrency. as far as i know that the goverment wants crypto to follow the government regulation but that looks so difficult,

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Quote from: seizetehday5 on October 03, 2017, 04:16:21 PM

Nope it wont happen because the two ideas you are talking about are literally contradictory in nature. One looks to centralize and control money supply whereas one looks to decentralize and not control money supply. Please

tell me how these two opposing forces can work side by side in harmony? I dont see it happening, atleast for sure anytime soon.

tax. people must give tax to government (other says). but it's likely win solution for one side only, i'm personally don't want to be taxed. They are kidding me, bitcoin created to avoid something like bank and tax.
Maybe we can look to japan or other countries who legalize bitcoin. they let people use bitcoin, no tax, but have some rules to follow (still give problem to anonimity of bitcoin user). Also hear japan will create J-coin and dubai have Emcash, that's way they can still get benefit from cryptocurrency

orions.belt19

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Quote from: player514 on October 03, 2017, 02:21:30 PM

Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Well, I think the only win that the government can get from crypto is taxes. Yet, people who want to use bitcoin and other cyrptocurrencies for daily transactions do not want those taxes. It's an immediate conflict and as of now, I don't think there's a valid solution.

Taxes is a way for the government to generate income and revenue but then as you said, I'm sure that the bitcoin users would be against this because this would mean additional cost for them. But this would be the likely thing for the government to do, as with other new entities that need control.

I remember when Uber was new in our country, nothing was done to regulate it but after some time they require them to have some licensure. Uber can still continue its operation and at the same time - is regulated by the government. Perhaps something like this would be applicable for bitcoin and cryptocurrency.

bubblebit

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

It must be clear to us all that if we’re talking about government, I think we must be specific if it is officiated by good public servants or the corrupt and self centered officials.

If a good government make a legal move for bitcoin I’m more than 110% supports to it. And it will be most of us in that case because we all confident that they’re doing it for the people and for the country.
But if a corrupt government officials are the once pushing it, I will opposed on any regulation that they will implement and I don’t care if I will violate a law on doing so.

pitiflin

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

Well that's actually easy. People are interested in decentralized digital currency which uses block chain technology and governments are very much interested in block chain and are conducting research and study on it is what I heard. So if you combine both of them you will get a crypto currency which will be regulated but at the same time block chain technology will be put to use.

Slark

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Most people think that any form or regulation will be harsh - because we don't need to pay even 1% of any tax related to cryptocurrency.
Also, we would have to be anonymous and have all perks of decentralized digital currency - but we need to face the reality:
Bitcoin is not the holy grail of economic heaven - sooner or later you will need to declare that you own BTC, or you will pay tax for your BTC related profits.

Youghoor

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Yes i think that the only way to make banks profit from cryptocurrencies is only if they adopt cryptos or if they start working with them (offering funds with crypto's profits) or any other example that can be profitable for them too, by this way they will stop making fud against cryptos because they have profits in common.
But probably this is the only way out in bitcoin-banks war, i guess.

tiptopgemdotcom

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Truly decentralized stable asset

Governments gonna to follow crowd and first adopters always take advantage of serving first. But world regulation rules dont let them do their job as they wish.

Idrisu

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

government can only benefit from cryptocurrency by adopting blockchain technology into the financial system. Governments may not successfully be able to regulate bitcoin and others cryptocurrency but they can adopt it into the financial system. Bitcoin on the other hand should do what ever need to be do to make transaction transparent, so that governments can understand what is going on.

seizetehday5

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Nope it wont happen because the two ideas you are talking about are literally contradictory in nature. One looks to centralize and control money supply whereas one looks to decentralize and not control money supply. Please

tell me how these two opposing forces can work side by side in harmony? I dont see it happening, atleast for sure anytime soon.

Nameless27

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Quote from: moinul018 on October 03, 2017, 01:28:49 PM

How a government can still manage its control over currency and finance without harshly regulating digital currencies ? Can we ever have a win-win situation ? Is there any economic model for decentralized currencies ?

I think the best thing government can do is regulate wallet provider and give licenses to the legitimate one. Then just monitor criminal activities that uses digital cryptocurrency. That’s only the ideal participation they must do and should not touch the privacy, all personal information and keep out from monitoring users with only good intentions. It is the only win-win situation government and bitcoin community will be satisfied about.

SvenBomvolen

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Legalization is going to be that win-win solution you are talking about. From legalization the government is going to have it's benefits in the se a of taxes which exchangers and ATMs would pay to it. And digital currencies are also going to have it's pluses, one of the is the price, we all here care mostly about the price and legalization would attract more crypto users, that will pump the price for all coins to the sky.

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