why should governments allow bitcoin to continue grow? - page 6.

XCANA

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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

Government has no power over Bitcoin growth just that they see it as something they cannot stop. Increase in the value of Bitcoin is determined by the fources of demand and supply and not the government as you rightly put.

xBitHodler

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Some governments won't ban Bitcoin because it generates a lot of money for them (mostly income tax). Other countries are simply afraid of losing control of their financial system. They wouldn't be able to print any additional money anymore. There could be hard fork but it would cause a lot of trouble for the government because people could get easily confused.

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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

Well they can't really ban bitcoin, so they better try to regulate it, and get some taxes out of it. If they completely ban bitcoin, the only people that will probably stop using it, are those that already follow the law. So in other words, bitcoin would completely move underground, and they would have no control over it. So what's the point in pushing away those that wont give them any problems when they use bitcoin, and make it even harder to catch those that they are trying to stop.

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As long as the use of bitcoin is for legal activities, the government is okay with it. Added to that, even if bitcoin becomes a threat to the government and banks, they would just put regulations on it. Plus, they cannot do this process unless the use of bitcoin grows.

For instance, China has banned bitcoin, but it is going to regulate the use of bitcoin. That means the government will get profit as well. Japan gets benefits of bitcoin. And in some countries, bitcoin is still not known. My point is the following; the growth of bitcoin will decide whether the government intervenes or not.

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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

There really are a lot of reasons why bitcoijs should be legalized. One is because it is undeniably a great technology. And if given the chance to improve, can be far more better than what it is today. And can realky help make this world better. Another reason is that it can drastically reduce the amount of poverty and unemployment. Because it does not require too much from a person to get into the crypto world. Just a skill to communicate in engkish and common sense, and your good to go. Plus those graduates that do not have a job can apply in various jobs online that give crypto currencies as salary for their services.

Although bitcoins may have quite a good share of negative parts, it still has a lot of room for improvement.
That is why i think bitcoins should be allowed by any government. And set aside their greed just for once to make the world a better place.

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Why do you think they should allow bitcoin to continue growing? Decentralized Bitcoin and crypto currencies are the biggest enemy for the fiat printing money system of the central banks and they have no reason to let it continue to grow!

Some of the biggest fiat banks meanwhile also consider to introduce their own crypto currencies and this confirms that they don't plan their future with the already available decentralized coins.

This is all true, but how are they suppose to stop crypto?

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As far as the governments are concerned, Bitcoins present a major threat to their dominance on the economy. If Bitcoins get popular, then the fiat currency may be used by a lesser number of people, resulting in the devaluation of that currency. Another aspect is the tax evasion, which can result from the use of Bitcoin.

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Quote from: Celebrity on October 28, 2017, 01:36:39 PM

Quote from: Ucy on October 28, 2017, 08:24:43 AM

Do you want to see "government" declare war on Bitcoin or something? Well, I think this is time for Crypto to take over. They ain't going to succeed.
I bet they are currently grouping, regrouping and scheming to destroy Bitcoin... Fortunately the whole thing is moving faster than they can figure something out.

They know the system is fully decentralized and they can't be the winner in possible crypto war. They can't declare war against cryptocurrency users obviously. All they want is more tax from their citizens.

there is absolutely no incentive for any established government to allow bitcoin; its much harder but not impossible to track transactions, compared to how "transparent" (lol) the fiat gateways can be when they want to. governments, to an extent have a right to at least ask citizens for tax (a suggestion), if not obligated citizens to tax (pretty much the entire world). as the price and volume of bitcoins grow, the loss of tax revenue and the increasing potential for the movement of illicit funds and money laundering.

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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

Well they gotta see the potential of bitcoin because it really change the cyber world. This crypto currency had lead many people get rich and progress in life. It can help the society grow and can make the market gets better after the inflation. It is independent so no one really can start a corruption pack here unlike to some institution we cannot trust.

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Quote from: Ucy on October 28, 2017, 08:24:43 AM

Do you want to see "government" declare war on Bitcoin or something? Well, I think this is time for Crypto to take over. They ain't going to succeed.
I bet they are currently grouping, regrouping and scheming to destroy Bitcoin... Fortunately the whole thing is moving faster than they can figure something out.

They know the system is fully decentralized and they can't be the winner in possible crypto war. They can't declare war against cryptocurrency users obviously. All they want is more tax from their citizens.

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if the government is studying bitcoin and they know that bitcoin can help their citizen to search new way to make money, then the government will allow bitcoin to continue grow and they will not said that bitcoin is illegal. they will giving a chance to their citizen to trying to use bitcoin and trying to earn money from bitcoin. I think this will be a good news for their people because they can fix their financial problem by trying to earn bitcoin from many source.

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Quote from: jekjekman on October 26, 2017, 07:16:17 PM

Quote from: Cranidos on October 26, 2017, 12:32:18 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

Bitcoin is the solution for the cheap transaction of cash to anywhere in the world without the aid of a third party. With this alone, it can justify that the government should let Bitcoin be and encourage its growth. However, since Bitcoin is decentralized and the government want to control just everything, the likes of the government is a total opposite of what Bitcoin is that's why we can see some countries that are opposing Bitcoin. Though some compromised and accept Bitcoin.

This might affect government's income. Money transfer businesses are losing money from it which results to less government taxes being paid. Maybe the reason why government is somehow allowing bitcoin to grow is because it is not violating anything. And when bitcoin is successful they might formulate a new crypto currency that can be used around the wolrd.

In fact it is not a problem or a place which became the source of the problem each country, because I was sure all countries want the innovation of good things for the better. The source of the problem which I believe to be a source of problems terhambatnya bitcoin is accepted by most countries is due to its extremely anonymous, which could be a major target in the follow pindak corruption or money laundering.

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while bitcoin runs on track, the government will not interfere, let alone the government can get tax returns from this bitcoin. but if bitcoin has disturbed the currency in every country, I'm sure the government will follow up on this bitcoin development.

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Do you want to see "government" declare war on Bitcoin or something? Well, I think this is time for Crypto to take over. They ain't going to succeed.
I bet they are currently grouping, regrouping and scheming to destroy Bitcoin... Fortunately the whole thing is moving faster than they can figure something out.

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Quote from: The_prodigy on October 26, 2017, 07:18:05 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

Governments should allow bitcoin to grow because it presents and offers a unique opportunity for that cou try to advance and be in the tier of advanced countries as having bitcoin opens up a lot of groundwork in which investors can use anf people van jump on

I think if a government allowed bitcoin then the economic shape or that country will get a lot of change I means that if bitcoin legal than the peoples of that country will make their life with their hands and also a lot of profit will started come to the economy world of that country I think this is the best idea for any country success.

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Quote from: tengek37 on October 26, 2017, 12:56:23 AM

Because I think if the government makes regulations about bitcoin transactions and impose taxes in it, then the country will get a lot of revenue from there that can be used for the development of the country to be more advanced again.

Of course you are right about the fact of bitcoin and relation if bitcoin and country development because if a country allowed bitcoin and its countrymen started getting benefits from it then this country will grow more and also the value of bitcoin also grow up.

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Quote from: Heyyyrenz on October 08, 2017, 11:31:51 PM

Actually the government doesn't do anything about growing of bitcoin and they don't allow it to grow since if all people are going to use the bitcoin or other cryptocurrencies the government will grow slower since most of people are not going to pay taxes because if you work in cryptocurrency your are anonymous and also bitcoin can be used to hide illegal works such as money laundering and also maybe bitcoin can be use to buy drugs, and illegal weapons.

Yes you're right, most of us who worked in different occupations are no longer to pay taxes which use by the government this will happen if those people will worked in bitcoin and no longer in their real job. On my opinion that in bitcoin you can get and invest money more than you expected while compare to the job that we have, you can only get a normal salary than Bitcoin. But of course it is more important to do our real job than Bitcoin I prefer that we just need to use bitcoin as a side job and not a real job but if it is on your own will to choose.

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Quote from: Yuhee on October 08, 2017, 10:58:51 PM

Quote from: JayJuanGee on October 08, 2017, 10:49:23 PM

Quote from: hatshepsut93 on October 08, 2017, 02:02:49 PM

There can be a lot of reasons. If they would outlaw Bitcoin, it would just be moved to the deep web and it will become much harder to monitor transactions and crackdown on criminals who use it for illegal operations. When Bitcoin is legal governments can just work with exchanges and other services if they need to investigate something. Bitcoin is not much different from cash - sure governments can't print more Bitcoins, but they can print more fiat and buy BTC with it. It's very likely that in the future governments and banks would adapt to Bitcoin instead of fighting it.

your response here is largely correct because of the fact that governments do not likely have much of a choice. In one sense they have to have a vision about the extent to which bitcoin could be a threat, and then foresight as to when that could be - 40 years down the road when everyone in power is dead?

Another aspect is competing visions of government entities and also competing visions of government agencies as well. It is quite likely that a large number of agencies and individuals within the agencies are coming to differing assessments about what is bitcoin, whether it is good or bad, and whether there are reasonable proactive ways to attempt to stifle it's development and/or growth.

It is possible but right not its not directly that they could allow bitcoin. They could just use an entity to use bitcoin for them and also use that entity for future economic uses. Because even if government says they will support bitcoin, they need some 3rd party to see to it that all transaction from citizens are protected and to help in further security. And security is the most important thing for civilians because they might think twice when their would be news about some internet fraud when they start using bitcoin.

Actually I don't heard any concrete explanation of the government if they will opposed the proliferation of BTC in their country maybe they just trying to figure out or they making policy to protect their citizen against scam for all we know BTC is decentralized in form there are lot of factor that they should look into. Hopefully thus country who’s stand is again the BTC will review their policy to become encouraging to BTC patrons.

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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

this is also a puzzle to me. i really don't know the reason why they allow the growth of bitcoins in their countries though bitcoins still lack of legal basis. Besides, bitcoins is not yet included in the computation of the gross domestic product (gdp). then we cannot still measure the impact of bitcoins in the economy... Hopefully all will be solve in due time....

Reez

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Governments aren't allowing Bitcoin to grow they are biting their nails watching on the sideline HOPING for something or someone to do something, but they never will because of the way Bitcoin's system is fundamentally designed. It's designed to allow good actors to flourish.

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