why should governments allow bitcoin to continue grow? - page 8.

dYnamxX

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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

Domain and electricity that used to make bitcoin work go to government so that they gain some money from make bitcoin work

bitctrimor1

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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 the governments are trying to protect their market standing. And since the market works on money and reserves as its main medium, it would really affect how the market plays when a new medium would be introduced. I think most of the governments would first want to have laws and regulations to safeguard their interests before fully delving into the market of cryptocurrency.

xanxus.kun

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You have to get what you want your own way.

I think they're allowing it not because they want to, it's just that they don't have a control over Bitcoin, to be more precise no one has a control over Bitcoin and it's value, the value depends on economical rule of demand and supply and even if government wants to regulate it, they can't because bitcoin is decentralized.

thenameisjay

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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

My guess here is that the government can regulate the flow of Bitcoins in a country by taxing it. They could let it grow exponential and gain some attention then they'll the hell out of bitcoins. It's a good avenue for them to gain some from bitcoins.

Fretcy

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The Governments should allow the bitcoin community to grow by educating and reaching every one in the country for the development of the country, what ever the Government should be working for benefits of the people, this bitcoin and blockchain community has the potential to eradicate poverty, unemployment of the country and improve the standard of the people which thereby increase the socio economic conditions of the world. The blockchain and bitcoin system provides an extra or an additional income for the people which should be promoted by the Government to enrich the lives of commoners of the world.

waynechong1995

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It's about profitability and economy wise i suppose, if BTC is helping the economy, stimulating startups there is no reason to ban BTC as long the negative consequences like money laundering, tax avoidance doesn't impact that much i guess. Small government would embrace BTC like foreign investment/source of tax income while the ones with big GDPs would ban it to preserve their main economy, or maybe their population are too much to handle, it's pretty obvious if you check you legalization of Bitcoins in various countries on Wiki, its exactly how it is at least for now.

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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

Governments should allow bitcoin to continue to grow because it is for the better. Bitcoin has been helping many people throughout the years, most of them where able to finish their studies. So, I don't see any reason why we shouldn't accept bitcoin.

Lalafell

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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 governments cannot completely stop or ban bitcoins in the world because of the high demand it collects from the online community. It is a good opportunity and promotes progress among its users. Bitcoin is more of a currency. It is an asset. Investments in realtion to crypto currency had enabled many rich people from the web.

The_prodigy

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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

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

MetalGear

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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, if they do not allow bitcoin to continue growing, they will miss their chance to gain more profit. We know they have concerns with the other not so legal uses of bitcoins but don't they realize that if they can manage to have a great amount of bitcoin, they can virtually control even the online market. Banning bitcoins can only make more people realize that bitcoin is much more better than banking.

Coldsnap4457

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They don't have a choice.

They cannot stop it from growing.

swordling143

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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

Governments should allow bitcoin to grow simply because there is nothing illegal about it in the first place. It is like a form of online money, which is really helpful for transactions. Perhaps one of the reason that they don't want it is because it has no physical form which they can hold onto.

tengek37

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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.

Ewinsane

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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

I think it will not be bad when bitcoin and government go parallel to each other. Government can get benefit from bitcoin business if government recognize bitcoin a legal currency in the country and impose taxes on exchanges.

In this way more people will move towards bitcoin and business in the exchanges will also grow and this will be a direct income for government respect to collecting taxes from exchanges. Government must have to think seriously about this.

rrtg

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The government must allow the bitcoin to grow because of this many users this is one of the kind of their nature of business or where they earn money. Bitcoin help us in financial problem.

Kita Kita

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Quote from: beatleap on October 25, 2017, 04:26:53 PM

They shouldn't 'allow' they don't have a hand in Bitcoin. They should embrace it but certainly not allow.

For me goverment should allow bitcoin to continue grow because bitcoin is not doing anything wrong, and bitcoin is not wrecking goverment law so it should allow bitcoin to continue grow, and bitcoin is helping many people, bitcoin is reducing unemployed people so its good for all people who are doing bitcoin, it should allow because it will help more people particular for those people who are poor and for people who are unemployed.

Sand King

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Quote from: beatleap on October 25, 2017, 04:26:53 PM

They shouldn't 'allow' they don't have a hand in Bitcoin. They should embrace it but certainly not allow.

Goverment should allow bitcoin to continue grow, because bitcoin is helping many people, like under graduate people, house wife, and students. Bitcoin help them in financial problem and houses expenses and for tuition fee of student like me, bitcoin is good for people and its not doing bad to people so goverment should allow bitcoin to grown so bitcoin have a chance to help many more people.

Lorilikes

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Well, for starters, if the governments of the world want their enormous debts to ever be repaid they must intervene and somehow get a piece of the pie or Guaranteed they will lose all hopes of recovering bad debts in the form of taxes and national debts. I am not saying I agree with the governments need to monitor and control money, it's just ... if that was the goal, they need to hop on the crypto train or lose all their power.

fishbonez11

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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.

I agree with you, it would be much better to recognize bitcoin and put regulations on it compared to having it used for underground illegal operations. Bitcoin will keep its nature but it is the transactions that would be regulated. Like how the government do not limit us into how much money we can earn and keep, but they prohibit into using it to illegal things.

dieselmeister

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simple thing. they can't stop bitcoin or control it. people still use it even they do everything to block it. so the best thing they can do is accept bitcoin and control by tax or something

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