How to make governments accept bitcoin? - page 12.

nutildah

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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.

hero1111

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Bitcoin is future money system and if one govermant can except that i think this country will has the future many system early time , but people has to want to use bitcoin and they has to insist to thier govermant and if government has open mind , they will want to use bitcoin system in thier country but i think more important things , people has to want to use this and they has to tell governments.

dothebeats

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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. Second, more than 16 million coins are already out in the open, some were already lost in the void, and in order to gain the maximum control theycan get, they would need to own more than 50% of the total mineable coins (which isn't possible in any case). Third, pseudo-anonymous; they probably would just use it in some other things rather than controlling or allowing it in their jurisdictions with arms wide open.

Sarah08

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We know that bitcoin is anonymous and we also know that bitcoin price is rapidly increasing and cannot be control by anygovernment in the world so that causes the bitcoin to cannot get accepted by the government so to get accepted by the government you need to change the entire system and make a new one but if you do that maybe no one will use bitcoin.

Meowth05

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This will be really hard and maybe cannot be happen you need to change the intire bitcoin for the government to accept it bitcoin is anonymous and cannot be control by the government so this is not easy to get accept by government.

LeGaulois

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Quote from: easynote on April 20, 2017, 01:10:54 PM

If more people begin to see the payment speed of Bitcoin then I think that the Government would begin to accept Bitcoin as a Currency.

I don't know if you are using sarcasm, trolling, or have an idea about what you are talking. But "the payment speed of Bitcoin " ? Are you serious? It takes several time often to get a transaction fully comleted. Do you really think if people see "the payment speed of Bitcoin" so the Gov. will accept it ? It is the best joke of the day

Baofeng

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Bitcoin will never be accepted by any government because of its de-centralized in nature. What the government can do is just put a regulation on the practice of bitcoin technology. And we, users of bitcoin doesn't want to be govern by a central administration like a government of a central bank.

Zenithar

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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.

whizter

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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.

Gens09

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Government will not accept bitcoin because of the illegal transaction that is so vulnerable in bitcoin remember that bitcoin is anonymous but as in your post bitcoin your saying to pay taxes and you can pay in many stores ,,. Yes many companies know the opportunity of the bitcoin giving in this so companies will accept bitcoin and bitcoin will get many partnerships

HabBear

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We don't need governments to accept bitcoin, we only need governments not to reject it. Honestly, we don't want too much attention from governments. If they believe bitcoin is a threat to their controlled fiat currency they'll either try to outlaw it or take it over to control it.

We need Bitcoin to be seen as an acceptable form of payment that does not threaten the way existing government currency systems operate. This also maintains Bitcoin as an viable alternative or "safe place" when fiat is being inflated.

choppork

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Quote from: Wesimon on April 20, 2017, 12:54:15 PM

That is a possible way but I don't think that this is enough. They can introduce their own wallet but they cannot force their citizen in using them, unless they will create a law for it. The users can easily create wallets from their smartphone, laptop, desktop. Also, I don't think that the citizen will use that wallet because the government can easily block their wallet, security issues, hacks, trust issues or whatever reasons. For me, it is a good approach for the government in order to govern bitcoin but I don't know if it will be effective enough.

A law regarding cryptocurrency wallet will serve as an announcement to people that such thing exists. Unless almost everyone already knows about cryptocurrencies, this announcement will never happen. Ask yourself, is there anything that's mandatory that we should have? Is there a fiat wallet that we're supposed to have? We don't. But we're supposed to earn fiat in order to survive.

Right from the start, we're all programmed to earn fiat. We all went to school so someday we will get out of poverty using that magical currency that we're all looking for.

If the government would want to control us by making us all use bitcoin. Then they will do the same thing that they did with the fiat currency. It's required to have the coin, and there would be given wallets for different jurisdictions. But since the nature of bitcoin is all about anonymity, I doubt that this will ever work out.

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Quote from: NEWGOODOUBLE on April 22, 2017, 06:02:20 AM

Quote from: pokerplayer on April 17, 2017, 04:57:07 PM

Govrements will for sure accept bitcoin because it is good for every coutry economy so there is no reason to be worried about that because many investitors wanna use bitcoin because it is so popular coin so I am not worried.

although it is good for their community's economy. because it gives profits and income for their communities but. bitcoin just gives losses for the government as give illegal activity

I think you're wrong, the government does not lose anything if they accept bitcoin, bitcoin is profitable for all its users. Bitcoin complete freedom. The government can not control it completely, so they do not want to accept it.

Rostadom

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Quote from: Meycell on April 21, 2017, 10:59:07 PM

Quote from: easynote on April 20, 2017, 01:10:54 PM

If more people begin to see the payment speed of Bitcoin then I think that the Government would begin to accept Bitcoin as a Currency.

how about payment speed of bitcoin? i think payment speed of bitcoin is very low.. even people will not interest to use bitcoin because transaction or payment use confirmations to accept very a long

It's relatively fast, tbh. Thinking about how you have to go to the city, find a parking spot, and fall in line to send money abroad, bitcoin is definitely much faster. The payment speed is very quick since you just have to enter the bitcoin address of the recipient and then he'll receive it. Maybe not right away, maybe 10 minutes or so, but that's still far more convenient than the traditional way of sending money abroad. Also the transaction fee is really really low if you're going to send a decent amount of money.

NEWGOODOUBLE

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Quote from: pokerplayer on April 17, 2017, 04:57:07 PM

Govrements will for sure accept bitcoin because it is good for every coutry economy so there is no reason to be worried about that because many investitors wanna use bitcoin because it is so popular coin so I am not worried.

although it is good for their community's economy. because it gives profits and income for their communities but. bitcoin just gives losses for the government as give illegal activity

MancyZz

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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 ?

radjie

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Most Governments cannot accept bitcoin used for gambling sites, but the positive side of the bitcoin if used to buy and sell the Government will be able to accept it if a lot of users who are able to perform transactions bitcoin as a means to sell or any other business and not to gamble.

Meycell

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Quote from: easynote on April 20, 2017, 01:10:54 PM

If more people begin to see the payment speed of Bitcoin then I think that the Government would begin to accept Bitcoin as a Currency.

how about payment speed of bitcoin? i think payment speed of bitcoin is very low.. even people will not interest to use bitcoin because transaction or payment use confirmations to accept very a long

easynote

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If more people begin to see the payment speed of Bitcoin then I think that the Government would begin to accept Bitcoin as a Currency.

Wesimon

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Quote from: abel1337 on April 19, 2017, 11:17:55 AM

Quote from: Wesimon on April 19, 2017, 11:11:49 AM

Quote from: SoulBargain on April 19, 2017, 01:11:23 AM

Quote from: gracia0023 on April 18, 2017, 02:53:25 PM

Quote from: doomloop on April 18, 2017, 05:56:11 AM

Quote from: FeelingVER on April 18, 2017, 02:17:15 AM

Quote from: Sadlife on April 17, 2017, 11:46:25 PM

~snipped~

I cannot see any way that the government can actually govern bitcoin. Bitcoin is decentralized, anywhere in this world has bitcoin (by anywhere I mean anywhere with internet access) so how come that a government of a specific country could govern bitcoin. Another, bitcoin is anonymous, how can the government track its citizens if they cannot identify who has bitcoin or who uses bitcoin. I know it's a big IF but I would like to hear ideas on how the government will govern bitcoin.

You have a huge point , but I think if the government wants to govern the bitcoin the government can create its own wallet app and let it use by the citizens. This is the questions , how can the government make the citizen use the wallet. They can have a partnership with the banks , foodchains or anything that can make the citizens easy to use bitcoin localy. I think thats a way on how can government can govern bitcoin. Its just in my mind it is not absolutely an superb way.

That is a possible way but I don't think that this is enough. They can introduce their own wallet but they cannot force their citizen in using them, unless they will create a law for it. The users can easily create wallets from their smartphone, laptop, desktop. Also, I don't think that the citizen will use that wallet because the government can easily block their wallet, security issues, hacks, trust issues or whatever reasons. For me, it is a good approach for the government in order to govern bitcoin but I don't know if it will be effective enough.

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