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Topic: How to make governments accept bitcoin? - page 26. (Read 28986 times)

hero member
Activity: 2128
Merit: 520
February 10, 2017, 04:44:54 AM
Easy, when the use of the bitcoin exceeds fiat money, I'm sure the countries immediately ratified the bitcoin as one of the official means of payment. And also the economic benefits, if the perceived presence of bitcoin really help the economy of the country, then it is certainly the Government accepted bitcoin immediately.
its hard for government to adopt the system since they can't control the transactions, what they can do is to limit after its been converted to fiat, as we understand why government wanted to still use their own currency because they have the full control its just symbolizing how the nations strength in terms of economy,.
legendary
Activity: 1120
Merit: 1000
February 10, 2017, 04:37:10 AM
The Government accept Bitcoin as a payment method that officially, I think is because many governments are already collecting taxes on transactions Bitcoin, but the Government accepts Bitcoin to replace fiat money, I think is impossible because government had reason to keep using fiat money, and I think there is no way to convince the government to accept Bitcoin as the official currency in a country.
currently i think that there is no tax on bitcoin anywhere because governments cannot put tax on bitcoin if they are not going to legalize it. because no government can put tax on illegal items. and currently the governments are not accepting bitcoin as legal currency because the users of bitcoin are still very low, but in future when the users of bitcoin will increase it will compel government to accept bitcoin as legal currency.
full member
Activity: 238
Merit: 100
February 10, 2017, 03:17:27 AM
Easy, when the use of the bitcoin exceeds fiat money, I'm sure the countries immediately ratified the bitcoin as one of the official means of payment. And also the economic benefits, if the perceived presence of bitcoin really help the economy of the country, then it is certainly the Government accepted bitcoin immediately.
legendary
Activity: 3248
Merit: 1070
February 10, 2017, 01:54:45 AM
Why would you want that? First of all this transaction fees now that we are growling about because it is getting too high will get higher when the government takes control.
There will be tax plus transaction fees and the higher the bitcoin you send the higher the tax will be. Who want something like that? It will be worse than Western Union or other money transfer industry.

it's simple if your government accept bitcoin, it means that more regulation will come in play, which is good for bitcoin, because it would increase adoption locally, and disrupt fear and untrust about the bitcoin system

paying taxes with bitcoin would not be an issue if you don't dump, also there are soem country on which bitcoin is tax free, in italy for example you are not obliged to declare the revenue from trading
hero member
Activity: 798
Merit: 500
★YoBit.Net★ 350+ Coins Exchange & Dice
February 10, 2017, 01:50:22 AM
Why would you want that? First of all this transaction fees now that we are growling about because it is getting too high will get higher when the government takes control.
There will be tax plus transaction fees and the higher the bitcoin you send the higher the tax will be. Who want something like that? It will be worse than Western Union or other money transfer industry.

Tax won't matter if they would just impose it when we are going to transfer our bitcoin to fiat, there is no problem with that, but if they are going to put it right in between each transfer from one address to another, that is a big problem, but since we have desktop wallet, I have a doubt if they are interested in that. For sure they would only target exchanges.
legendary
Activity: 3346
Merit: 1134
Leading Crypto Sports Betting & Casino Platform
February 10, 2017, 01:46:18 AM
Why would you want that? First of all this transaction fees now that we are growling about because it is getting too high will get higher when the government takes control.
There will be tax plus transaction fees and the higher the bitcoin you send the higher the tax will be. Who want something like that? It will be worse than Western Union or other money transfer industry.
hero member
Activity: 1190
Merit: 500
February 10, 2017, 01:35:33 AM
It took a long time, when the Government approved the bitcoin, then this highly risky replaced of fiat money. And of course it's like killing legal money and it seems difficult to realized.
I think the key is how to keep the government and bitcoin can be mutually beneficial. it is expected by the government, if the government did not get any advantage, of course they will never accept bitcoin
sr. member
Activity: 658
Merit: 251
VIMee - Social Network
February 10, 2017, 01:16:17 AM
It took a long time, when the Government approved the bitcoin, then this highly risky replaced of fiat money. And of course it's like killing legal money and it seems difficult to realized.

Exactly it will take little more time to accept bitcoins by the government, till now no government is not telling we are banning bitcoins. But many big companies are researching and testing the block chain technology for there internal usage. Once these big companies owners should suggest government to accept bitcoins.
legendary
Activity: 1176
Merit: 1001
The most Professional Cryptocurrency Casino
February 10, 2017, 01:06:15 AM
It took a long time, when the Government approved the bitcoin, then this highly risky replaced of fiat money. And of course it's like killing legal money and it seems difficult to realized.
Yeah although in the future there is the government of a country accept bitcoin, but I am quite confident for bitcoin can be accepted by governments of all countries still takes a very long time.
hero member
Activity: 966
Merit: 515
One of the world's leading Bitcoin-powered casinos
February 10, 2017, 12:36:41 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?
Government needed to make some new rules to use bitcoin .
Everyone here in the bitcoin knows that we can do anything with our bitcoin without leave any proof , this is the only drawback of the bitcoin in the view of the government .
So here I think a rule should be made by the government to make the the bitcoin more clear . There should be new wallet aloted for the bitcoiner , And the accounts in the wallets should be verified with the government certified documents of the user , so that goverment will be able to make the every transaction clear and in this way bitcoin became full best official online money .
sr. member
Activity: 434
Merit: 250
February 10, 2017, 12:28:57 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?
Government doesn't fear bitcoin they just don't acknowledged bitcoin as a form of currency but I am proud to say that here in the philippines bitcoin has been noticed by the government they now require those bitcoin exchanger here in our country to verify their identity before that can actually convert it to fiat ! So meaning to say in the simplest form before you can cash out your money they will first identify your identity whick nullify the anonymity problem of bitcoins .
legendary
Activity: 2688
Merit: 1106
DGbet.fun - Crypto Sportsbook
February 09, 2017, 10:07:59 PM
it takes time and trust that bitcoin is recognized by a state. many governments still fear in legalizing bitcoin. the only way is to use bitcoin as often as possible. So the government should not have to recognize bitcoin for a functioning economic system in the country.
for now, the government is very scared with bitcoin, because they think bitcoin currency is illegal and assist the process of crime such as money laundering and so on. maybe in the future the government can accept bitcoin under certain conditions
i think the accepting of bitcoin by the government is concern with the mass adoption. if people are accepting bitcoin and their number is increasing then government will also think about accepting bitcoin, but it is also a fact the government will accept bitcoin under certain conditions.
Yes, before making government accepting bitcoin payment system, we must make our friends and colleagues to adopt bitcoins. When more number of people will be using bitcoins, there will be more merchants and hence government may start think about accepting bitcoins as one of medium of exchange with some regulations like imposing taxes.
Nope, a government does not care about how many the people are trying to adopting the bitcoin in nowadays. but they just need to prevent the risk has provided by bitcoin.
A lot of the adoption in Venezuela and it's not showing good interest by the government.
I’m pretty sure the Venezuelan governments hates any way the people can use to avoid the crazy inflation that goes in their country, that is why there is a control of dollars in the country and bitcoin is even worst since you have no way to control it at all.
Venezuela tried hard to come out of inflation with the use of bitcoin. Eventually people started mining and supported the economy through the earning made, but recent days regulations of the government is very worse. Destroyed several mining farms as well the users were under investigation.
hero member
Activity: 1274
Merit: 521
7enius - Your Cryptocurrency Marketing Consultant
February 09, 2017, 09:53:35 PM
The Government accept Bitcoin as a payment method that officially, I think is because many governments are already collecting taxes on transactions Bitcoin, but the Government accepts Bitcoin to replace fiat money, I think is impossible because government had reason to keep using fiat money, and I think there is no way to convince the government to accept Bitcoin as the official currency in a country.
full member
Activity: 224
Merit: 100
February 09, 2017, 08:56:09 PM
It took a long time, when the Government approved the bitcoin, then this highly risky replaced of fiat money. And of course it's like killing legal money and it seems difficult to realized.
legendary
Activity: 1596
Merit: 1027
February 09, 2017, 04:37:51 PM
Basically, governments are already accepting, or are or have been conniving with Bitcoin. The thing is, they are already studying how they are going to tax it and how they are going to deal with other issues such as money laundering. Other than that, it is possible that many governments will introduce their own digital currency and set a whole set of constraints on Bitcoin.
hero member
Activity: 910
Merit: 501
February 09, 2017, 03:52:29 PM
If we can make the government agree to accept bitcoin, they will demand that we need to provide an identification for every wallet and transactions we will make. It might also demand that every transactions should be taxable. Are you prepared to accept that? Because if that will happen, we will lose the very essence of bitcoin.

That's what Europe would like to add and talked about recently. Listing and track each bitcoin users. As for the taxs, why not, it helps the country (considering it is used efficiently) Aren't you happy to have hospitals, or your kid can go to school and you pay nothing ? Then it is with the taxs collected. People should be happy to pay taxs. For exemple you see people who complaint about their country telling the hospital in the city is bad, roads are not good, ect ect but they fraud the taxs LOL, this is ironic

I think one reason why many people do not want to pay taxes is that they think the taxes are not used in a correct form.
In many countries taxes simply disappear in deep pockets or are applied for useless stuff.
Curruption itself is the biggest problem, unfortunatelly bitcoin itself with its anonymity can be used for exactly that.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
February 09, 2017, 03:36:12 PM
it takes time and trust that bitcoin is recognized by a state. many governments still fear in legalizing bitcoin. the only way is to use bitcoin as often as possible. So the government should not have to recognize bitcoin for a functioning economic system in the country.
for now, the government is very scared with bitcoin, because they think bitcoin currency is illegal and assist the process of crime such as money laundering and so on. maybe in the future the government can accept bitcoin under certain conditions
i think the accepting of bitcoin by the government is concern with the mass adoption. if people are accepting bitcoin and their number is increasing then government will also think about accepting bitcoin, but it is also a fact the government will accept bitcoin under certain conditions.
Yes, before making government accepting bitcoin payment system, we must make our friends and colleagues to adopt bitcoins. When more number of people will be using bitcoins, there will be more merchants and hence government may start think about accepting bitcoins as one of medium of exchange with some regulations like imposing taxes.
Nope, a government does not care about how many the people are trying to adopting the bitcoin in nowadays. but they just need to prevent the risk has provided by bitcoin.
A lot of the adoption in Venezuela and it's not showing good interest by the government.
I’m pretty sure the Venezuelan governments hates any way the people can use to avoid the crazy inflation that goes in their country, that is why there is a control of dollars in the country and bitcoin is even worst since you have no way to control it at all.
legendary
Activity: 1176
Merit: 1024
February 09, 2017, 10:49:59 AM
perhaps by showing positive activity against the government, such as creating a great business, and encourage people to use bitcoin. maybe so, the government will issue a warrant to make bitcoin be legal, and can be used for good business freely. Well, maybe it would work.
Maybe that is true, up until now bitcoin has been only used for activities that are not profitable for them like gambling and especially in the black market which not only destroys the economy but also enhance the illegal activities such as drugs hacking and even guns, not all of people using it use it for these things but the amount of bitcoin transactions made in these markets is huge that is why it is sometimes considered bad by non-bitcoiners.
hero member
Activity: 770
Merit: 500
Bazinga!
February 08, 2017, 09:30:23 PM
If we can make the government agree to accept bitcoin, they will demand that we need to provide an identification for every wallet and transactions we will make. It might also demand that every transactions should be taxable. Are you prepared to accept that? Because if that will happen, we will lose the very essence of bitcoin.

That's what Europe would like to add and talked about recently. Listing and track each bitcoin users. As for the taxs, why not, it helps the country (considering it is used efficiently) Aren't you happy to have hospitals, or your kid can go to school and you pay nothing ? Then it is with the taxs collected. People should be happy to pay taxs. For exemple you see people who complaint about their country telling the hospital in the city is bad, roads are not good, ect ect but they fraud the taxs LOL, this is ironic

i agree with this but people are never happy when it comes to paying taxes, no matter which country they live in. but what surprises me most is the fact that when it comes to paying taxes on things when they use fiat, nobody complains but when it comes to paying taxes on things when they used bitcoin everybody starts screaming!
legendary
Activity: 1876
Merit: 1000
February 08, 2017, 09:30:08 PM
almost the entire point of p2p currency is to be indifferent to gov.........but that's lost on most the current crypto crowd.
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