Why do wee need to convince the government to accept Bitcoin when in fact it is centralized and the concept of Bitcoin is decentralization.
I agree with you, Bitcoin does not need recognition from the government because it is decentralized. so don't expect too much that Bitcoin will be accepted and recognized by all the governments of countries around the world.. according to what I see, changes in the price of Bitcoin, 90% are influenced by "Pump" & "Dump" that happening in the market. cmiiw 
Topic: Why we have slow steps about convincing governments to accept bitcoin? - page 2. (Read 652 times)
February 23, 2020, 12:31:56 PM
February 23, 2020, 12:01:48 PM
Decentralization issues, market price instability and the likes. Bitcoin, as a digital currency, still has issues in the eyes of governments despite of the fact that it is being used already to some countries. But we cannot blame them because as time goes by, more people would see the benefit of blockchain technology. Its popularity is slowly spreading right now which is a good sign of progress.
What I think here is the government is trying to buy careful about making haste to accept in totality with bitcoin. They feel the right to protect the citizen and this is why it looks like it is difficult to convince the government. Before we have a genuine legal backing from government, it will take more time.
Those countries who are not yet adapting blockchain technology are still having measures. One main thing I think is market price stability because using bitcoin perhaps, would engage an individual to investment, risk will then arise since its market price changes from time to time.
I think that the governments of most developed countries will soon accept bitcoin too. There simply will be no other choice, and that’s logical. If we want to use bitcoin (more and more people use it, or at least know about it), then the government will have to take some measures.
there will always be achoice. Keep in mind that it is not only Bitcoin that is a digital currency. There are already digital currencies aside from cryptos that are being widely used by many people.This is not just a political related issue but more about money IMO. There is no such related issue before and I think crypto projects are welcome in Malta and quite it looks different by now. This regulatory board may have to chase something for crypto owners and giving no option for them to follow the rules or have money under the table to play. Maybe I was wrong but in the current situation, I think they are looking it to happen since knowing that crypto is a growing market and these people would like to get some share also.
What I think here is the government is trying to buy careful about making haste to accept in totality with bitcoin. They feel the right to protect the citizen and this is why it looks like it is difficult to convince the government. Before we have a genuine legal backing from government, it will take more time.
February 23, 2020, 10:40:45 AM
I think that the governments of most developed countries will soon accept bitcoin too. There simply will be no other choice, and that’s logical. If we want to use bitcoin (more and more people use it, or at least know about it), then the government will have to take some measures.
February 23, 2020, 09:32:01 AM
Generally, I do not think that the government would be convinced to take some progress into the acceptance of Bitcoin. Primarily, the lack of democratic authority is the major reason why governments distrust the cryptocurrency. The government would prefer to stick with flat money as it is the conventional currency globally and they have major authority in controlling its flow and circulation. Now, friends, do not be impatient because this is a long process just like the acceptance of any other invention presented in the world. We have come a long way and we should continuously pursue it in our own ways to pique the interest of the majority.
February 23, 2020, 08:42:17 AM
today I read this shocking news:
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
We are not rushing everything especially if crypto currencies are not that suitable yet for adaption like the disadvantages of crypto currencies where every government is being aware of. Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
Crypto currencies needs an electricity to operate, how about those who have no electricity? This is only one of the hurdles that crypto currencies should solve first in order to be fully accepted by every governments. But don't worry, our generation is keep on evolving so time will surely come that digital currencies will fully replace fiat and we don't need to hurry about it. We need to be patience and wait for the right time because once the time will come that we can solve this hurdles then not only bitcoin will become fully accepted but also the other potential currencies.
February 23, 2020, 07:54:28 AM
Why do wee need to convince the government to accept Bitcoin when in fact it is centralized and the concept of Bitcoin is decentralization. In a country where there is freedom and the legalities to utilize BTC, well I guess that is enough for us. It is for the people, the mass, and not the one at the top so instead of the government we convince the people below, in a democratic government the people holds the power. As long as I can freely use bitcoin in every transaction that I wanted to, then I am sticking with that.
February 22, 2020, 05:21:30 PM
Actually, sooner or later it is relative, especially for a new innovation that is very contrary to the existing system, many pros and cons, so that it requires adoption and adjustments long enough to actually prove effective in solving current problems. It's a kind of evolution, it can't be instant, it takes a long process, and a decade is still relatively short. So we just wait.
February 22, 2020, 01:38:38 PM
today I read this shocking news:
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
I don't know, it seems really weird that pretty much the most solid exchange is based in a mysterious place. It was common knowledge that the headquarters were in Malta. It should be noted that the statement by the regulator does not deny it, it simply states that Binance is not regulated by it... I think we should wait for clarification from Binance before jumping to conclusions. As for Malta being crypto-friendly, this opinion has been undermined a couple of times before. Not everything is good there, see, for instance, this article.Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
As for the question that names the thread, I believe that only through small steps any progress can be achieved when it comes to governments because they are naturally cautious.
February 22, 2020, 10:35:43 AM
1) Is "convincing governments to accept bitcoin" a goal?
2) Malta didn't welcome crypto, it welcomed crypto's spinoff economic benefits for Malta.
3) When Binance implodes, the fallout will be immense.
February 22, 2020, 10:23:35 AM
Probably it's because it's not their focus? Don't expect much on fast acceptance because, I mean why would the government give much attention on cryptocurrency acceptance in their country if they should be promoting their own currency? It's normal for a government to take it slow and in fact we should just be thankful that even if it's a slow progress, they still think of accepting cryptocurrency.
Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
February 22, 2020, 09:35:25 AM
CZ just put out a statement:
Quote
“There is a mix of truth, FUD & misconception. http://Binance.com is not headquartered or operated in Malta. This is old news & has always been the case, hence there is quite a bit of FUD turning this into a breaking story. The community’s comments show that understanding.”
~This mixture of truth, FUD and misconception kept Binance in the top of the list IMO. The misconception about their headquarters and the false impression most of us (including me) got about them being based in Malta gave many of their customers some belief that Changpeng Zhao moved his entire exchange to a crypto-friendly country, hence the false impression of safety has been created at the same time.
You guys need to wake up and understand the chances of convincing a state to accept Bitcoin are slight, especially if we consider top powers in the world (China, USA etc). It's just not gonna work - it's against their principle.
February 22, 2020, 09:18:14 AM
I'm certainly not shocked about an exchange being evasive about the region in which they are based. That seems to be par for the course. Try to keep your involvement with them to an absolute minimum if possible.
Nor am I at all surprised that certain parts of a regulatory framework in any given country can give conflicting statements to other parts of the regulatory framework in that same country.
Personally, I see it as more of a "them" problem than an "us" problem. I suspect crypto will generally continue to operate in a legal grey area (and often moral grey area as well) in most countries for many years to come. It doesn't particularly matter if the steps are slow, as long as we continue to make steps without sacrificing any of our fundamental values. I'd be far more concerned if we were making rapid developments in government acceptance by undermining the foundations that make all this stuff work. It's going to take time for governments to accept the way in which we do things. That's only natural.
Nor am I at all surprised that certain parts of a regulatory framework in any given country can give conflicting statements to other parts of the regulatory framework in that same country.
Personally, I see it as more of a "them" problem than an "us" problem. I suspect crypto will generally continue to operate in a legal grey area (and often moral grey area as well) in most countries for many years to come. It doesn't particularly matter if the steps are slow, as long as we continue to make steps without sacrificing any of our fundamental values. I'd be far more concerned if we were making rapid developments in government acceptance by undermining the foundations that make all this stuff work. It's going to take time for governments to accept the way in which we do things. That's only natural.
February 22, 2020, 09:02:24 AM
today I read this shocking news:
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
A country being crypto friendly does not mean that anyone can do anything with crypto currencies. I don't know whats going on with Binance and Malta or the insides stories, but knowing about the stance of Malta on crypto currencies, I am pretty much sure that Binance is probably not meeting some sort of criteria for which the financial regulator of Malta isn't allowing them to operate on their country (though I thought Binance already operates from Malta. So are they operating illegally now?). And didn't they sign off a memorandum with Malta or something? Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
February 22, 2020, 07:51:33 AM
today I read this shocking news:
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
What makes the news shocking?Are you a Binance user?
The authorities in Malta can deny authorization to Binance and yet Malta can still be considered a crypto friendly country.If Binance isn't meeting certain requirements,it's perfectly normal for the authorities to refuse to give them a license.I'm not familiar with the crypto regulations in Malta,but they don't just allow any company to operate there.
We will NEVER convince any government in the world to accept cryptocurrencies.All governments will stick with fiat money until the end of the current financial system.
February 22, 2020, 07:00:44 AM
I was wondering why Binance wasn't responding to AMLD5 requirements. There's the answer -- they aren't operating from the EU at all.
I must admit that I am also quite surprised that the truth they have presented to us over the years is actually a very well packed lie. Binance never actually had headquarters on Malta, but it was "spiritual headquarters." by Ted Lin, Binance’s Chief Growth Officer, whatever that means.
I’m not sure it’s a positive business practice, but why would anyone hide his headquarters for years, and why they refuses to say it today? I wouldn't be surprised if their headquarters are actually in China, considering that they announced their return there and cooperation with the Chinese government in launching that new China cryptocurrency.
It seems that after Malta is got a new government, things started to change to the detriment of the liberalization proclaimed by Malta as a crypto paradise. This is no surprise to anyone, Malta is an EU member state and has received more warnings that it cannot put things contrary to EU law/s.
Cryptocurrency is one of the fastest-growing transaction for over the world, and we want to make some adaptation into the environment in the world. Today some people would like to make some investment with the use of crypto, and that was a piece of good news because there are now many people who appreciate the use of crypto. We all know that this kind of process makes a more straightforward transaction and also secured it is lessen having too much queue management still we want this and made a payment to our country. However, there is a problem; yet there are few countries that do not wish to accept the use of crypto, and their officials restrict some of those. Still, there is a lot of processes before a system will allow into a particular country because they need to check the security, ability, reliability and stability to make sure there are no future errors. Hoping they will now accept the use of it and see the potential to make more money and also make a smoother transac
February 22, 2020, 06:09:30 AM
This is not just a political related issue but more about money IMO. There is no such related issue before and I think crypto projects are welcome in Malta and quite it looks different by now. This regulatory board may have to chase something for crypto owners and giving no option for them to follow the rules or have money under the table to play. Maybe I was wrong but in the current situation, I think they are looking it to happen since knowing that crypto is a growing market and these people would like to get some share also.
What I think here is the government is trying to buy careful about making haste to accept in totality with bitcoin. They feel the right to protect the citizen and this is why it looks like it is difficult to convince the government. Before we have a genuine legal backing from government, it will take more time.
February 22, 2020, 05:53:56 AM
I was wondering why Binance wasn't responding to AMLD5 requirements. There's the answer -- they aren't operating from the EU at all.
I must admit that I am also quite surprised that the truth they have presented to us over the years is actually a very well packed lie. Binance never actually had headquarters on Malta, but it was "spiritual headquarters." by Ted Lin, Binance’s Chief Growth Officer, whatever that means.
I’m not sure it’s a positive business practice, but why would anyone hide his headquarters for years, and why they refuses to say it today? I wouldn't be surprised if their headquarters are actually in China, considering that they announced their return there and cooperation with the Chinese government in launching that new China cryptocurrency.
It seems that after Malta is got a new government, things started to change to the detriment of the liberalization proclaimed by Malta as a crypto paradise. This is no surprise to anyone, Malta is an EU member state and has received more warnings that it cannot put things contrary to EU law/s.
February 22, 2020, 04:24:21 AM
The problem is :-
*In many countries like China , people can barely speak up
*Even if you hire people to file a case against Government , the lawyer won't know on what basis are you supposed to handle the case ! Because there are barely any laws governing them.
*The government always makes hype about the negative things regarding the cryptocurrencies but no one cares to even speak about the positive one's.
*The hackers and scammers might not realize it now but they , are indirectly decreasing the price of bitcoins and other cryptocurrencies , these scams and negative news makes people more wary and Government more negative.
*In many countries like China , people can barely speak up
*Even if you hire people to file a case against Government , the lawyer won't know on what basis are you supposed to handle the case ! Because there are barely any laws governing them.
*The government always makes hype about the negative things regarding the cryptocurrencies but no one cares to even speak about the positive one's.
*The hackers and scammers might not realize it now but they , are indirectly decreasing the price of bitcoins and other cryptocurrencies , these scams and negative news makes people more wary and Government more negative.
February 22, 2020, 12:55:41 AM
Considering it as the biggest exchange in the market it is interesting how they are going to deal these situations, these resembles the Liberty reserve situation when Costa Rica denied their license and then the shit storm started and ended up getting confiscated. CZ been the loud mouth he is i am waiting to see his response.
CZ just put out a statement:
Quote
“There is a mix of truth, FUD & misconception. http://Binance.com is not headquartered or operated in Malta. This is old news & has always been the case, hence there is quite a bit of FUD turning this into a breaking story. The community’s comments show that understanding.”
That's kind of shady. The entire ecosystem has been repeating that Binance is based in Malta for the last couple years. They never thought to correct that apparent misinformation?
Examples:
Malta Today: Why world leader crypto exchange Binance moved to Malta
Bloomberg: World's Biggest Cryptocurrency Exchange Is Heading to Malta
Fortune Magazine: Cryptocurrency Exchange Binance Moves to Malta, Where the Prime Minister Is Welcoming It With Open Arms
I was wondering why Binance wasn't responding to AMLD5 requirements. There's the answer -- they aren't operating from the EU at all.
February 21, 2020, 10:00:07 PM
There must be some changes to their stand to crypto business after all exchanges are making money and if more exchanges are choosing Malta due to their lose-tight regulation, it could be a reason Polo and others come to set up an office as well. It really look like every time they go elsewhere the government will be after them. Looks like a political issue. So where will binance go now if they are to go where crypto isn't heavily opposed?
Looks it was actually like that. They probably don't thought of it that crypto business is going to be big or as it is right now and they were open before with such business like Binance until they've noticed that they should tighten or at least revise some of their regulations regarding establishing business on their jurisdiction.Binance's statement must be clear as well, I don't know who's telling the truth and we will see where this is going.
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