How to make governments accept bitcoin? - page 11.

mrcash02

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Quote from: rikybrosh on April 23, 2017, 08:54:31 PM

Quote from: ipungadhi on April 23, 2017, 08:40:36 PM

Quote from: staff_1307 on April 23, 2017, 09:20:51 AM

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

Probably Government will create their own coin that can be more supervised than paper money. I hope there is a way to makes bitcoin being legall in all country even bitcoin must lost it anonimity

It would be nice if we have the option to use the government Crypto Currency and Bitcoins. The only thing I don't agree is if the government forbid Bitcoin and another decentralized currencies to make people use only their official currency.

Bitcoin doesn't need to be officially legal, things only should continue to be as it's now, no regulamentations, no government words about Bitcoins. Who isn't doing anything illegal with BTC has nothing to worry about.

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Quote from: ipungadhi on April 23, 2017, 08:40:36 PM

Quote from: staff_1307 on April 23, 2017, 09:20:51 AM

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

Probably Government will create their own coin that can be more supervised than paper money. I hope there is a way to makes bitcoin being legall in all country even bitcoin must lost it anonimity

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Quote from: staff_1307 on April 23, 2017, 09:20:51 AM

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

How not anonymous will hurt the government if they legalize bitcoin. There will certainly be many criminals who take advantage of bitcoin because it is anonymous

sobsitesearch

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Quote from: iqlimasyadiqa on April 23, 2017, 08:17:46 PM

Quote from: Nathan047 on April 23, 2017, 01:12:56 PM

A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

The government just kept quiet at this time. They have not taken action to make bitcoin better. Government should provide support for bitcoin development. Today japan and russia became one of the countries that have appreciated the use of bitcoin in the country.

For me i want bitcoin what it is, because if government start to enter in bitcoin or adopt bitcoin taxed will imposed and the value will start falling down because government will control it even the value in the market is high they will control the income of each users.

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Quote from: Nathan047 on April 23, 2017, 01:12:56 PM

A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

The government just kept quiet at this time. They have not taken action to make bitcoin better. Government should provide support for bitcoin development. Today japan and russia became one of the countries that have appreciated the use of bitcoin in the country.

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Quote from: staff_1307 on April 23, 2017, 09:20:51 AM

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

If you are aware with the news today, you will return your words and change that "never" because there are countries right now that are showing their interest to bitcoin and they are now already starting to use and adopt bitcoin. I think other governments, countries will just adopt bitcoin automatically when they saw those countries showing positive result.

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Quote from: pinkpanther03 on April 23, 2017, 11:26:53 AM

Quote from: mobnepal on February 02, 2017, 05:44:54 AM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the biggest hurdle for bitcoin to get accepted by governments/banks because they can't implement taxation as well as they can't track source of bitcoin. However anonymity is also the main feature due to which many users love to store in bitcoin and use it whenever they like.

Governments/banks may never accept direct bitcoin payments, but they may implement strict rules/regulation and high fees on local bitcoin trading platform. And as recent coinbase and PBOC investigation have shown that governments are now looking to get detail about every bitcoin traders who are actively trading bitcoin so that they can put tax on their earnings as well as limit money laundering.

But for what the government want it to bitcoin is not going to be happen because of decentralization it has, and we all knew about this things of course. So the government haven't get any benefits from it, unless the government adopt the system of bitcoin, but its not also going to be happen because they are base centralized like what the other private sectors did.

yes no doubt that there are some hurdle for the governments to accept bitcoin as legal currency, i think it will take some more time untll the users of bitcoin increase more and more and then government will start thinking about to accept bitcon as legal currency and the put different taxes on it, but i think for such thing to be happen i think there is still some time lefting for that.

Mike Mayor

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It feels like paying taxes with bitcoin defeats it's entire purpose. Who really cares what the government think ? It has nothing to do with how you choose to use your money and in what form ?

Quote from: MingLee on April 23, 2017, 01:06:26 PM

Quote from: Ravion on April 23, 2017, 12:57:57 PM

Quote from: n0ne on February 02, 2017, 05:58:08 AM

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population).

Actually, it's more common for a bank to lend its own money (from deposits) out in a way larger amount than what they have. Very, very little of the currency in circulation is actually created by a government's central bank (at least in the United States) and a majority comes from banks loaning it out over and over again. You're able to turn $100 into $1000s of dollars through this system, and it's one of the largest factors when it comes to inflation.
$100->$100+$90->$100+$90+$89, etc. That's if the bank doesn't end up loaning it out or getting the same amount of money back multiple times.

I see what you saying and it is right the banks use your money in them to loan to others but you not going to mark $100 $1000 that is just nonesense.

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A lot of governments accept Bitcoin already as it is. However, I’m sure a lot of them would enjoy adding a backdoor, as that would probably help the more totalitarian governments accept it.

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Quote from: Ravion on April 23, 2017, 12:57:57 PM

Quote from: n0ne on February 02, 2017, 05:58:08 AM

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population).

Actually, it's more common for a bank to lend its own money (from deposits) out in a way larger amount than what they have. Very, very little of the currency in circulation is actually created by a government's central bank (at least in the United States) and a majority comes from banks loaning it out over and over again. You're able to turn $100 into $1000s of dollars through this system, and it's one of the largest factors when it comes to inflation.
$100->$100+$90->$100+$90+$89, etc. That's if the bank doesn't end up loaning it out or getting the same amount of money back multiple times.

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Quote from: n0ne on February 02, 2017, 05:58:08 AM

...Because currency was printed based upon a value placed in relation to commodity.

That was a long time ago, before fractional reserve banking. It used to be that for any money that was printed, there had to be an equivalent value of a commodity that that money was representing. Now, the central bank just prints money and gives it as credit, to the banks. The banks can then give this out as credit to businesses and consumers, but they can give out much more credit than they have taken from the central bank, on a fractional basis. With the way the central bank works today, the government is creating money out of nothing. The only thing that the money is backed by, is the government itself (more specifically, the government's pledge that it will collect taxes from the population).

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Quote from: mobnepal on February 02, 2017, 05:44:54 AM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

Anonymity is the biggest hurdle for bitcoin to get accepted by governments/banks because they can't implement taxation as well as they can't track source of bitcoin. However anonymity is also the main feature due to which many users love to store in bitcoin and use it whenever they like.

Governments/banks may never accept direct bitcoin payments, but they may implement strict rules/regulation and high fees on local bitcoin trading platform. And as recent coinbase and PBOC investigation have shown that governments are now looking to get detail about every bitcoin traders who are actively trading bitcoin so that they can put tax on their earnings as well as limit money laundering.

But for what the government want it to bitcoin is not going to be happen because of decentralization it has, and we all knew about this things of course. So the government haven't get any benefits from it, unless the government adopt the system of bitcoin, but its not also going to be happen because they are base centralized like what the other private sectors did.

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Quote from: staff_1307 on April 23, 2017, 09:20:51 AM

The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

We do not know the future, because bitcoin is a very sophisticated technology. Maybe the government does not accept it for now, but we do not know what will happen in the future. Because it could be bitcoin able to save a country's economy.

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Quote from: Xenophoto on April 23, 2017, 12:22:04 AM

Quote from: Jewell on April 22, 2017, 06:40:42 PM

to me i think by only putting pressure on government can make government to legalize bitcoin. but still i thin bitcoin are still iit will take such a long long time because the users of bitcoin are still very low to put pressure on government, therefore to me i think it will take such a long time to make government to accept bitcoin as legal currency/

You can put all the pressure to the government but they will only do what they think is going to improve their nation's situation. Hundreds of thousands of people live in the streets, millions don't eat 3 times a day, billions of kids suffer from malnutrition. Those stuffs alone has put much pressure to the government but are these problems ever going to be solved? They have done stuffs to do so but until now, it's still the problem of most countries.

Even just slow and overpriced Internet connection can't be solved in most third world countries. Legalizing bitcoin as a currency is a broad thing and they barely have the time to focus on such thing.

Hundreds of thousands of people live in the streets, - in some countries not in mine
millions don't eat 3 times a day, - in some countries not in mine
billions of kids suffer from malnutrition.- in some countries not in mine
slow and overpriced Internet connection - in some countries not in mine

So if the governments in some countries have fixed this and in others not it might be a problem with the ones that people are electing. Who's fault would that be?

And now, going even deeper in this, for some countries in this world bitcoin is not a solution right now , and going from fiat to crypto in a short time might have the opposite results.
I do hope that if a government would turn to bitcoin it won't be in a deeply flawed country.
Because this is one thing we don't want. A failed experiment going terribly wrong.

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The government will never accept Bitcoin if everything is stored anonymously, but it is a feature that many users like.

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Quote from: bakkang on April 23, 2017, 12:37:19 AM

Government approve only the things that can undergone process. So i think government will going to accept it if an individual can explain the characteristics of bitcoin or the use of bitcoin in our digital world. Bitcoin will help a lot of people to make everything easy.

I doubt that an average guy will even be able to explain how the fiat system works. If it wasn't for the bitcoin world, I wouldn't do research about the fiat system. I would never question it if I didn't know bitcoins. People wouldn't question the fiat system as well since it has been the traditional monetary system and because they didn't know that there are other existing monetary concepts.

The government will not ask the explanation of bitcoin to a certain individual. They have people to study it. They wouldn't ask a random guy in the streets about bitcoin to decide if they are going to accept bitcoin or not.

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Government approve only the things that can undergone process. So i think government will going to accept it if an individual can explain the characteristics of bitcoin or the use of bitcoin in our digital world. Bitcoin will help a lot of people to make everything easy.

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Quote from: Jewell on April 22, 2017, 06:40:42 PM

to me i think by only putting pressure on government can make government to legalize bitcoin. but still i thin bitcoin are still iit will take such a long long time because the users of bitcoin are still very low to put pressure on government, therefore to me i think it will take such a long time to make government to accept bitcoin as legal currency/

You can put all the pressure to the government but they will only do what they think is going to improve their nation's situation. Hundreds of thousands of people live in the streets, millions don't eat 3 times a day, billions of kids suffer from malnutrition. Those stuffs alone has put much pressure to the government but are these problems ever going to be solved? They have done stuffs to do so but until now, it's still the problem of most countries.

Even just slow and overpriced Internet connection can't be solved in most third world countries. Legalizing bitcoin as a currency is a broad thing and they barely have the time to focus on such thing.

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Quote from: Zenithar on April 22, 2017, 02:37:35 PM

Quote from: whizter on April 22, 2017, 01:43:12 PM

Quote from: MancyZz on April 21, 2017, 11:51:26 PM

Quote from: Bit2Easy on February 02, 2017, 05:40:06 AM

I have a question for you. How to make governments accept bitcoin and not see it as a threat? So that one could use bitcoin in daily use, such as paying taxes or grocery shopping. What is there, other than anonymity, thats making governments fear bitcoin and cryptocurrencies?

make goverment accept bitcoin ? i think this is very impossible because goverment not believe of bitcoin , see bitcoin like scam and criminal.. bitcoin is more easy without goverments, isn't ?

to me i do not think that it is such a difficult job. i think it depend on the users of bitcoin , when the users of bitcoin will increase more and more and they will put pressure on government, am hopeful that very soon the government will start accepting bitcoin, but i think it will take some more time because the users of bitcoin are still very low.

yes i am also agree with you, i think that is really such a good idea. i think if the users of bitcoin will increase, then the government will think about to accept bitcoin or at least create their own online currency, which can only be applicable in their own currently.

i think you right , and then if goverments accept bitcoin what the benefit for our (bitcoin user)?
in reality bitcoin it's no problem without goverments

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Quote from: nutildah on April 22, 2017, 04:16:08 PM

Quote from: dothebeats on April 22, 2017, 04:00:02 PM

A few things: first, bitcoin is decentralized. The government wouldn't want to get involved into something that they know are out of their control and bitcoin isn't an exception for that.

Actually quite a few world governments (most notably Japan, Russia and the U.S.) are currently drawing up and enacting legislation for the regulation of bitcoin. In Japan (home of MtGox) and Russia (home of... financial fraud), regulation of bitcoin is almost essential in order to curb the massive amounts of money laundering and fraud happening in those countries.

Here in the U.S., regulators are taking their sweet time, but a Florida judge recently summed up the need for regulation quite elegantly, after a case had to be thrown out in that state against a man who was running a CC-for-bitcoin scam:

“This court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning.”

http://www.miamiherald.com/news/local/community/miami-dade/article146087044.html

That pretty much explains in a nutshell why governments, both federal and local, will be pushing for more crypto regulation in the future.

to me i think by only putting pressure on government can make government to legalize bitcoin. but still i thin bitcoin are still iit will take such a long long time because the users of bitcoin are still very low to put pressure on government, therefore to me i think it will take such a long time to make government to accept bitcoin as legal currency/

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