Why should governments accept Crypto currencies? - page 2.

Janation

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Quote from: fosco333 on November 13, 2018, 11:42:25 PM

Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

Well, maybe if they accept bitcoin to hide their "corrupted asset", maybe they will be found out by other peoples about their corruption.
Actually, some of the coins are anonymous enough if you not using any centralized exchange to transact your coins, for example Monero.

Bitcoin's transactions can be found on sites like Blockchain.info, that is the reason these decentralized cryptocurrency is not really a great currency to use on private transactions like on the Deep Web, also the reason why a lot of criminals are caught there.

There are a lot of other cryptocurrencies that is more anonymous than Bitcoin for example Monero. Even if Bitcoin is legalized on a country, they will not be able to hide their dark secrets at the back of Bitcoin since we all can see that on the country. The country reflects what they are doing with the funds, the taxes they are collecting.

fosco333

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Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

Well, maybe if they accept bitcoin to hide their "corrupted asset", maybe they will be found out by other peoples about their corruption.
Actually, some of the coins are anonymous enough if you not using any centralized exchange to transact your coins, for example Monero.

Sam San

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any government should be interested in the development of new technologies and participation in the global division of labour. in the global world, the government is concerned about the competitiveness of the country and its producers.

CarTrick

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Governments that are more innovative and secure seem to have a different view about crypto, and that they realize the importance of cryptocurrencies in our world today. For instance, Japan has already accepted bitcoin as a legal tender, while regulating the trade in the country. So of course, governments can benefit from crypto as well. And didn’t bitcoin account for a remarkable portion of GDP growth in Japan?

badungs

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this must be done so that the government can further develop its economy. so that the government can compete with any country. at present, technology development in the financial sector is very rapid. all countries have used technology to transact so that the government must improve the quality of human resources in order to compete. and the government must be able to use technology for economic progress. so that the government can transact with other countries that have used financial technology.

ansarose1

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This post is good and make sense. Bitcoin must be accepted by the government since it is use as business and investments, i think there is none other than that. I think there is no negative side for the government to use bitcoin aside from the fraud people that are trying to steal, scam, and hack.

kelaxo76r

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Governments have altogether different needs, and decentralization — a fundamental component of most cryptocurrenices including bitcoin — doesn't tend to be one of them. Indeed, cryptocurrencies could proclaim another period of centralization, offering genuine and serious questions about privacy and the feasibility of true cryptocurrencies like bitcoin.

syntac

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from the explanation it was very clear that the country wanted to hide their decay, especially in terms of corruption. whatever happens if bitcoin is bought by a corrupt country ... the world will definitely go crazy. and the majority of the population will do negative or criminal things.

cancoinl2

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There are many benefits government and banks can experience thanks to Bitcoin and blockchain. But there is a difference between governments entering the crypto world and accepting the rules (decentralization, transparency, etc) and governments setting regulations to control crypto. The first option will be benefitial for everyone.

LastHope99

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Governments should accept crypto if they want to better control people.

Ronaldcoin2017

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Quote from: thenameisjay on November 11, 2018, 10:04:07 PM

Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

I think the government should start accepting bitcoins and other cryptocurrencies because they are pretty helpful when it comes to transferring money from one person to another. The only problem I see why the government didn't gave cryptocurrency a greenlight is that people can use it to launder money.

Well i agree on that, blockchain technology is quit amazing it is really simple to use and it can really help is to some government transaction or payment it can also maybe help to preveent government corfuption and tax stealling the amazing blockchain technology is slowly developing and maybe in the near future it will become more helpful to us.

thenameisjay

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Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

I think the government should start accepting bitcoins and other cryptocurrencies because they are pretty helpful when it comes to transferring money from one person to another. The only problem I see why the government didn't gave cryptocurrency a greenlight is that people can use it to launder money.

Ethan Argu

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Goverment is difficult to control crypto it has a record and transparency. It can trace your name and even your transactions. Thats why they will not allowed to regulate any crypto because they hide something for thier own businesses like corrupting.

MAJICOIN

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If bitcoin is a useful currency to every one and it is the beat way to send your funds through out the boarders so governments can use it for payment in different countries and if the government support bitcoin it's value will be ten times stronger than now and i hope that in the near future it's value will be rise but now we are waiting for the news of opening doors to the bitcoin by the Big economies like US and China and it will impact on the whole world.

kominfo.id

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maybe because accepting payments using cryptocurrency crime can be reduced even when doing transactions can create a very high sense of security and very fast delivery.

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Quote from: Deborah Christine on November 11, 2018, 10:42:33 AM

Because, 1. bitcoin is a currency that is not regulated by any central bank. 2. bitcoin can be the best investment 3. Because Bitcoin does not have an intermediary, transactions can be done without any limits.

If the government accept cryptocurrency as official, what will happen if the crises occur? When there is a crises government can influence it to a certain degree through emission. With crypto money it is impossible to regulate

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newbie

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I don't think that government in general needs to accept it. Government will introduce taxes too this sphere and it'll loose all of it charm and advantages

Rena5

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Acceptance of bitcoin by the government really takes time and needs a lot thorough studies on government side.Government is after only on the betterment of his countrymen.For sure the government has foreseen the problems that may arise when they allowed cryptocurrency on the future use.
Cryptocurrency has many good attributes.A decentralized currency with high value and a lot of uses.For now,lets just hope that government is making the best for his people

Triwiyono

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we take the positive side first, the government accepts crypto, we are also happy because there is support. but if crypto will also be used for corruption because it is transparent, there will be regulations that might create traces of transactions on crypto. I don't know for sure why the government is want to accept crypto, but clearly the government is starting to support Crypto even though it has a different purpose.

CryptoSmile

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The government must be able to accept the existence of crypto currencies, because crypto currencies will not harm the government, and the fact that the existence of crypto currencies can help the government in the welfare of its people. Indeed, there are some parts where crypto currencies are considered anonymous and cannot be tracked exactly who they are, so we often hear misuse of currencies such as money laundering and so on. But in my opinion it is not an excuse for the government to reject the presence of crypto currencies, because if the government is serious in supporting the existence of crypto currencies, the government can actually track every crypto currency owner, through transactions or bank accounts that they do through the crypto currency.

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