why should governments allow bitcoin to continue grow? - page 11.

youdacapt

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Quote from: Yanidas on October 24, 2017, 02:37:49 AM

For taxes and control first of all. Bitcoin isn't really anonymous and it's quite easy to trace back addresses and transactions and governments love that. They just need enough time to wrap their heads around how to profit from it by making it "legal".

Tracking the flow of transactions can still be fooled by mixing services, some wallets can also generate addresses of applicable transactions, this becomes a problem for the government, if there are thousands of people doing money laundering, then their database will not have enough competence. .

the way the government legalizes bitcoin is to try to engage in crypto currency and generate its own currency. So investment benchmarks must pass their currency and clearly the government will greatly benefit from the tax sector.

mevmike

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governments should allow bitcoin to continue in growing because they will only create more dangerous way for people to do transactions.
bitcoin may indeed take away the taxation power of the government but they can still collect it through exchanges.
but by totally banning the use of bitcoin people will only find a new way to avoid the prying eyes of the government and this could be far more dangerous.
sometimes we need to sacrifice something for the greater good..
Cheesy

Yanidas

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For taxes and control first of all. Bitcoin isn't really anonymous and it's quite easy to trace back addresses and transactions and governments love that. They just need enough time to wrap their heads around how to profit from it by making it "legal".

yoseph

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Bitcoins have created wealth for a lot of people and we all know how the governments likes to take money from people in the name of paying taxes. The more the people earn, the more taxes they pay so in reality, its a win for the government.

Kotone

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

THE GOvernment should allow cruptocurrencies to grow and prosper as this is something that can help elevate their country if used properly. THey would ensure faster transactions, safer and cheaper ways to invest and would be anle to provide a chance to other people to earn

bozo333

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Quote from: aa.aep on October 24, 2017, 12:54:33 AM

Bitcoin can help the economy and can reduce poverty someday. There will be more businesses, traders, investors and opportunities for everyone to get involved. Because they apply the rules for exchange, millions of taxes can also be collected if the government allows Bitcoin to continue growing as the community might support and invest in Bitcoin, I see no reason to have any problems or conflicts with it. Whenever we withdraw our funds in the local exchange, there is a tax, so that's why they need to let Bitcoin grow and thrive

people will be growth. country automatically improve the future. Bitcoin is improve the country people and people know the all thing. how it will use and how to invest and improve the more confidant for the gather for the economy. Bitcoin is future digital currency. So it will be use the bitcoin for the all country and use to the more transaction the money.

aa.aep

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Bitcoin can help the economy and can reduce poverty someday. There will be more businesses, traders, investors and opportunities for everyone to get involved. Because they apply the rules for exchange, millions of taxes can also be collected if the government allows Bitcoin to continue growing as the community might support and invest in Bitcoin, I see no reason to have any problems or conflicts with it. Whenever we withdraw our funds in the local exchange, there is a tax, so that's why they need to let Bitcoin grow and thrive

Victorycoin

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Quote from: Yakamoto on October 08, 2017, 10:56:31 PM

Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

They don't have a reason. I'm more surprised that a lot of governments haven't been shutting Bitcoin down to be honest. It's something that will completely disrupt the entire power structure of the world, assuming that it grows in the same way it has been over the past few years. Something completely freeing up the average person so that the work they have actually has value instead of giving them a constantly inflating and depreciating token would completely upend a lot of countries' means of controlling their citizens, and that would be profound in far more ways than you may want to believe. It's almost worrying what could happen should Bitcoin replace the primary financial structures.

I think they actually have a reason for allowing Bitcoin to grow and the reason is that they have come to realize they cannot effectively ban Bitcoin and it was never for lack of want to try as a number of governments have already experimented with a ban on Bitcoin, but which instead turned out as Bitcoin massive promotion campaigns.

Bitcoin is a force, whose time have come, the governments across the globe stand to lose out completely by trying to stand in its way. Their only hope is to instead embrace legalization and have some measure of control or keep fighting a losing battle.

rodel caling

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

its simply to elaborate why bitcoin continue to allow government to grow its because bitcoin are big help to the community of every country to give of the people have a decent job using bitcoin as source of income.

mistanama

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There are so many reasons why governments do not let the Bitcoins increase. And one of the most important reasons is that they can not stop it because they do not hold the Bitcoins. Bitcoins are decentralized and this can not control anyone. So they will not be able to accept what's happening and embrace new technologies that can make the world a reality.

Dudeperfect

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I completely agree with the fact that governments are willing to control the wealth and economy of the country so ideally, it would be an irony to legalize the technologies like Bitcoin which is based on the principle of decentralisation that challenges the role of one central authority.

However, in my opinion, the most common reason for the governments to allow Bitcoin is monitoring the flow of wealth in cryptocurrencies. Let's be honest, we are ready to pay our taxes but we don't want anyone to control our funds and by legalizing Bitcoin or cryptocurrencies, governments can build a model where it can monitor the crypto world by permitting domestic and foreign exchanges to maintain KYC records of the account holders.

In case of a ban, there will be a huge trouble for the governments because in that case, it will promote black market as anyone can use Bitcoin anywhere in the world through VPN and to avoid this mess, governments should allow Bitcoin.

Malsetid

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Governments of course won't be too easy on this because of security concerns that crypto present. If it's just for the convenience of the people, then bitcoin would do a very good job in doing this but governments would have to consider the frauds, scams, drug trade, terror activities. There's a lot to consider so there would have to be thorough study to make sure these are addresses before it allows bitcoin to grow into national acceptance

mukeymon

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Bitcoin is difficult to control especially transactions that are anonymous. The government can not control illegal money transfers and it is unlikely that those who are using or own it.

erickkyut

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Not all governments are pro Bitcoin. Sime of them are against it. For those countries that accept Bitcoin, I think they saw the potential benefit they can have from it if they will adapt it. Even though they have no control over it, they are happr to see that their citizens are earning from it and they have to opportunity to improve their lifestyle.

iamMhew

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

every country or government has their own law about this bitcoin, if every government wants to continue to grow this bitcoin, theres a possibilities that they can take over the privacy of our bitcoin, and they implement some taxes if that happen, they want to earn also on this bitcoin by doing some services on their own country to manipulate bitcoin from their country bitcoin users.

ajmapalo22

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The government must see the opportunity given by bitcoin to a lot of people, with this new innovation everyone has given equal chance to earn additional income and if government will allow bitcoin to grow many people will benefit and the country's economy will also grow. Government must stop prioritizing having the control over money they must look for the welfare of their people.

Restmand

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Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

I think the reason why the government allows the bitcoin to grow much more is that someday or in the upcoming years its possible that Bitcoin will become the center of the currency in the world. Now that it become much more bigger and famous now it has now gaining some good reputation so there is really a possibility of Bitcoin bexoming the center of currency that the government will try to put some law in using Bitcoin.

Agamemnus

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Sorry to break it to you but governments are useless third parties and are unnecessary when making transactions. Now we can just trust the blockchain and not third parties.

francedeni

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Quote from: Pansamantala on October 12, 2017, 07:55:24 AM

Quote from: jonathan6655321 on October 08, 2017, 01:54:10 PM

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Yes all goverment must legalize this bitcoin becuase this is our future money.

Government should allow bitcoin to continue to grow because there will be an affect to all people who uses bitcoin. Because bitcoin is helping a lot to those jobless as we all know bitcoin offer opportunity to people willin to earn income online. And I think there will be an adoption in the upcoming years, bitcoin has a lot of features to all not only to users but also to the government.

subSTRATA

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Quote from: Shamie1002 on October 09, 2017, 06:04:19 AM

The truth is if the government will be involved, the whole decentralised thing about bitcoin will be nonsense.
The government will surely take away the anonymity for it will be needing legal basis for transactions. The main third party that the bitcoin is against is the government itself because of high fees. So literally, if bitcoin is just like another currency, the only characteristic that it can be popular of is its volality, and it's access in the internet. When it comes to use, both fiat and bitcoin will have fees and not profitable anymore. ( worst case I can think of )

just the fact that the government is involved does not necessarily result in decentralization; the very nature and structure of bitcoin keeps it from being centralized without massive resources being dedicated towards control, for example, the 51% attack. unless a government specifically aims to control bitcoin and is willing to dedicate ample resources to this effort, this will never happen.

Quote from: Gameroid on October 12, 2017, 05:57:51 PM

Quote from: Rj Manik on October 12, 2017, 03:32:59 PM

The government of some countries thinks that if virtual currency is given more priority then its policy on the payment currency will have an effect.The use of public on the main currency will be reduced.So they used to adopt any other currency as a legal offense.But, If they give permission to use bitcoin direct then all public use bitcoin.and increase bitcoin demand and continue grow.

In fact in present time most of the countries are still not aware from the importance of bitcoin. i think that with the passage of time as soon as bitcoin will become more populars its importance is also increasing from time to time, therefore i can say that such government will also understand the importance of bitcoin and will surely consider it as legal currency.

most major countries are starting to however. we can see major countries and nations that are leading in technology coming forth with their decisions on bitcoin in the recent weeks (china, korea, japan), and it can reasonably be expected that others will soon follow. i dont expect it to be long before we see which countries will come forth and we should be able to judge where bitcoin will develop and be adopted.

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