Topic: How to make governments accept bitcoin? - page 29. (Read 28989 times)

actually bitcoin is not as anonymous as you think. everything is clear and obvious on the blockchain and is open to anyone who wants to see it. and also when you buy bitcoin specially with a large amount that you withdraw from your bank account it raises lots of flags and bank will know where that money has gone.
besides there are so many easier ways for rich to hide their wealth without risking an investment in bitcoin with volatile price!

I think there is some thread, bitcoin is anonymous, so rich people will buy bitcoin to hide some of their wealth. The Government can't track their real wealth when its already in bitcoin. Another thread is black market, scam, money laundering, etc.

The idea about bitcoin threat to any government will always be irrespective of the anonymity. Now the anonymity and decentralization are questioned to be less than publicized, compared to some new coins. Government inability to control its transaction still remains reason of concern

The opinion of the government is irrelevant.

Bitcoin is designed to be able to withstand attacks from governments, banks and established powers, this is done on purpose.

as bitcoin doesnt have any central agency and due to many factors bitcoin coun't be termed as currency its just a digital value exchage medium (some state bitcoin and other cryptocurrencies as digitall asset). so government would not accept bitcoin. but they are not against bitcon either

We all have some priorities in life, like the government still has some problems to solve and to settle. Bitcoin, is one way to get there especially if they have seen that bitcoins demand increase rapidly nowadays. Since, the government is not disallowing the usage of it in our country, that indicates that they are seeing bitcoin as a great chance for people to have an opportunity for success especially investors and traders.

it is very reasonable because the government does not want something bad happens to their country. they want security and tranquility in any system of government.

Money laundering is not the main issue when it comes to the Government's disdain for Bitcoin. The government probably already has ways of detecting large amounts of money being laundered through Bitcoin.

Governments will not accept Bitcoin as it exists. They'll only accept it if Bitcoin abandons the things that made people chose to use it in the first place. And the government would not accept a form of money that they can't manipulate, like they're doing now with fiat money; They can print money on demand with fiat money, but if they accept Bitcoin as it is, (and Bitcoin becomes a major form of payment among people and businesses) that would mean the government can't increase the supply of money whenever it wants. They would only accept Bitcoin if it would become something like government-issued digital money. And in that case, most people would not use it.

And the tax issue. Many people are looking for ways to not pay income taxes for philosophical reasons; They're opposed to the idea of there being an income tax. They don't want the government to be spending money and accumulating debt (which can only happen if there's an income tax). During a certain portion of the 19th century there was no income tax, and during that time America had the largest economic growth in the history of the world.

as soon as the number of bitcoin users is increasing and as soon as the bitcoin is becoming more and more popular, the governments are coming more and more in pressure. and compelling the government to accept bitcoin as legal currency. the governments are also thinking about the new technology but they have some limitation which are bounding them about bitcoin acceptance. but hope that very soon all issues will be clear, and government will consider bitcoin as legal currency.

I am sure the government is knowing and learn about bitcoin, but the most that they want is the government want to have a control with this technology. Because without control, bitcoin can't be a currency for some countries.
If the government has a control with bitcoin, then they can take some tax for the users.

The only way us to develop it so much so that the governments will be able to tax the people with it. Anything either than taxation and prevention of money laundering will not sink down well for them.

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

no i think its still threat sir
the anonymous on bitcoin is the problem

even without anonymous on account bank nowadays, people still able to do lot of bad things and still hard to track

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.

Today, bitcoin is not a threat to the states. Yes bitcoin is very valuable. We all know the value of bitcoin against the dollar. But states have yet to fully understand the importance of bitcoin. That's why I do not think they're afraid of bitcoin.

This is something that must be done on legal grounds, I mean any online signature campaign to approach government could not be a single way. I would like to quote this article, and I see a very positive picture in near future.

India's top law firm are working hard to proactively represent Bitcoin and suggest best practices to RBI. (RBI is a central regulatory bank of India).

Government has started to regulate bitcoin's technology than bitcoin. Every country have plans of generating their own digital currency. It doesn't seem to be a threat to the country, but several countries have warned public that bitcoin is used on their own risk. No law to regulate officially.

The big problem in bitcoin is the secret of you can say privacy of the user that is not can be seen by anyone .
Since according to simple tracing system anyone can track transactions of the user , So here is a big chance to adopt bitcoin as officially local currency to make all the transactions clear and legal .
But I think if a new thing join with the bitcoin that everyone or alteaslt some special user( like government officers) can track the bitcoin and its user fully then it is possible the any country can accept bitcoin without any problem .

This is perfectly answered and makes a lot of sense. You know the government doesnt want to lose control through lose of power and as this guy says bitcoin csn easily replace the currency of week fiat currency from third world countries and this will cause uproar and upset the government since they can no longer be in control of the wealth bit rather it is the people that control it.

Oh and cool picture. It sums it up well.

I hope that someday the government
will realize that bitcoin has a big help to many
people and it is not a threat to a country.