Topic: What will happen if Bitcoin gets official permission from the government...??? - page 10. (Read 2385 times)
September 12, 2018, 08:51:49 AM
As you rightly said, bitcoin is independent and there is no way government will any window to operate and manipulate things as we see in national currencies. There are still government who per no reason give bitcoin chance to operate in their nation and to me I hope thins changes.
September 12, 2018, 08:43:15 AM
Bitcoin is decentralized, and the government cannot interfere in this matter. Bitcoin transactions differ greatly from banks that can be regulated by the government. the government's duty is to give permission, and legalize Bitcoin as a legitimate payment tool, so that Bitcoin users become calm and comfortable. and I'm sure, if a government legalizes Bitcoin as a legitimate means of payment, then the demand for bitcoin from the people in that country will increase rapidly.
September 12, 2018, 08:32:44 AM
actually there are certain government that has already accepted cryptocurrency under their jurisdiction so the acceptance of cryptocurrency will depend upon the government in each country.
September 12, 2018, 08:42:12 AM
The advantage is that everyone can see clearly, the government accept Bitcoin is a big step for Bitcoin. There are many Bitcoin holders who have difficulty in their country. The fact that Bitcoin is used publicly is what we dream about.
However, it has its downside, that when it is accepted by the government, Bitcoin must accept the rules from the Government. Maybe some government regulation will make Bitcoin lose its great capabilities.
However, it has its downside, that when it is accepted by the government, Bitcoin must accept the rules from the Government. Maybe some government regulation will make Bitcoin lose its great capabilities.
September 12, 2018, 08:31:58 AM
Then it will become like dreams come true and if it happen every one can easily use bitcoin and also every company and shop will accept bitcoin.
That's what i am waiting for. Hope it will come true soon September 12, 2018, 08:30:32 AM
This is what the people of Bitcoin expected. Some people make Bitcoin difficult to use in their country. As accepted by the government, it is a big step forward in the worldwide spread of Bitcoin.
When accepted by the government, Bitcoin must accept government-issued laws, which are unavoidable. Even user management is no exception.
When accepted by the government, Bitcoin must accept government-issued laws, which are unavoidable. Even user management is no exception.
September 12, 2018, 08:26:22 AM
Damn! That will skyrocket almost all coins not just bitcoin to the next level of bull run
September 12, 2018, 08:21:11 AM
The governments of many countries in the world have recognized BTC, which has promoted the development of BTC to a certain extent!
Now the development of BTC needs the support of some superpowers like the United States and China to push BTC to a new height!
Now the development of BTC needs the support of some superpowers like the United States and China to push BTC to a new height!
September 12, 2018, 08:15:10 AM
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Making Bitcoin legal and mix in managing transaction are both different. Mix in managing transactions means government are taking control over bitcoin network and they are going to manage transaction which is not possible as it is not controlled by anyone. And if that is happening then the value and usage of bitcoin will become worthless and it will destroy the bitcoin main aim.
September 12, 2018, 08:08:20 AM
Then it will become like dreams come true and if it happen every one can easily use bitcoin and also every company and shop will accept bitcoin.
September 12, 2018, 07:59:36 AM
The only thing can a government do is to provide a regulations in investing cryptocurrency but not to change or manage the transaction of any users. They can't change the blockchain and therefore they can't take advantage of their power. I think this is also the reason why some countries had not given any supports on bitcoin as a currency.
September 12, 2018, 07:53:50 AM
I don't think that the government will meddle with Bitcoin. For one, they don't have the technology and systems to run it. Besides, Bitcoin and other currency are meant to be independent and should not be governed by any entity or body. Can you imagine how messy it could be if the government steps in and include their political agenda? No way man!
I second that. Government wouldn't be meddling with stuff it can't control. September 12, 2018, 07:31:55 AM
I don't think that the government will meddle with Bitcoin. For one, they don't have the technology and systems to run it. Besides, Bitcoin and other currency are meant to be independent and should not be governed by any entity or body. Can you imagine how messy it could be if the government steps in and include their political agenda? No way man!
September 12, 2018, 07:26:07 AM
Yes Bitcoin is an independent crypto currency that has got mass attention from investors worldwide and has been really successful. Whether or not Governments allow Bitcoin to operate, it will be interesting to see they regulate bitcoin or not. Governments will try to regulate bitcoin since it can be used for both legal as well as illegal payments.
September 12, 2018, 07:21:29 AM
If the government issues official permits for Bitcoin, that will be the main policy they will make. But I feel that it is impossible to happen right now, because there are still countries that prohibit Bitcoin from entering.
September 12, 2018, 05:58:57 AM
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Even if the government approves bitcoin,that doesn't mean that government would get access to all the transactions and that it would be in full control of all transactions.Only thing which it could do is to frame rules to regulate bitcoin exchanges to strictly follow KYC for all customers in order to tax the bitcoin users. Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
September 12, 2018, 04:33:12 AM
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
If the government interferes with bitcoin it might provide convenience to bitcoin users, for example government regulations are made to protect bitcoin users from cheating, fraud and others, so that users are protected by the laws in force in the government.
September 12, 2018, 04:04:11 AM
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Does the government mix in managing transactions for each user?
If the government mixes in managing transactions, will they take advantage of every transaction
What is your opinion.?
Bitcoin's network simply can't be controlled by governments due to its decentralised nature.
If bitcoin is officially recognised by the government, then it is only on a legal sense. For example, they may recognise bitcoin as a currency, which may have potential tax implications. Another term for this process would be legalisation.
However, it does not mean all of a sudden that bitcoin transactions will be able to be controlled and verified by governments after this process of legalisation. Because whatever recognition bitcoin gets from the government is only applicable for the government/taxation agencies, and has no effect on the network itself.
September 12, 2018, 02:29:28 AM
IMHO, the official permission from the government means you can trade and make settlements in BTC without a fear of being traced or caught, as was the case with some countries I heard of, BUT they will make us pay taxes on every transaction or maybe they'll try to impose taxes on your crypto assets you hodl. We are speaking hypothetically, aren't we? So, I just don't see the way the government can mix in managing transactions. I take it it's technically impossible. So, we can relax for now, at least.
September 12, 2018, 01:57:58 AM
When the government issues an official permit for Bitcoin, of course it becomes a policy that will be followed by everyone in the world because it will make it easier for Bitcoin users to do anything related to this digital currency technology. But the fact that there is currently still a country that has not fully legalized Bitcoin there are even countries that prohibit it.
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