Topic: Will the government accept it? (Read 1235 times)
The government is likely to continue to oppose any crypto and blockchain technologies. And this is their big mistake.
It's hard to 1 government, the country accepts Bitcoin. Because they cannot control Bitcoin. They cannot retrieve transactions of people to tax. This is what they don't want it to happen.
This is the reality as long as we are modern. Think back to ancient times when people didn't know what money was. They make transactions through products. That is, one would replace the other's meat with vegetables. And that was the process of their transaction. People have changed over the course of the day. At one time they used the leaves of the tree as a means of transaction. Later, gold coins and silver coins were gradually introduced. And today paper money has been created to make transactions easier. But even 300 years ago there was no bank, and today we cannot go without a bank. In the same way, 20 to 30 years from now, maybe the banking system will go up. Because people don't want anyone else to know their bank account. And people will choose digital cryptocurrency as an alternative to this bank. Bitcoin may be his alternative. Bitcoin is a decentralized process. This means that there is no need for a third party in this process. There will come a time when people will no longer take the help of banks. They will manage all the activities of daily life starting from shopping through digital cryptocurrency.
A good topic starter and question now I would like to start and share about something connected to this.
I know that there who already post before me but I just want to share that the local Government in the Visayas region of the Philippines accepted Cryptocurrency and it is amazing how there accepted it that possibly saw the future and good use of Cryptocurrency but there is a concern from the OP who started the previous topic I answered.
When there is a piece of good news and to shorten it there will always be bad results from it.
My idea was that there Govemenr saw something special that they could put and might or possibly get money for their own expense.
If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
1. This local Government that I am talking about can possibly prove that the banking sector can accept hope
2. That is my concern as well But I thought maybe this local Government make more money and fewer taxes from the city or local government.
3. Possible and might affect the Government but still, they can fond a life hole friend.
In my opinion, it is very difficult for the government to accept bitcoin because bitcoin is decentralized, where all transactions made cannot be known by other people so it is very difficult to track the person who made the transaction. the government is still hesitant about bitcoin because the people who created bitcoin until now are not clear about its existence.
If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
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2. How will the government collect taxes from the people?
Thats the problem must be solved before formally that Bitcoin will be accepted.Quote
3. If the government can't keep track of people's legitimate money, won't corruption increase?
It will continue corrupted , because corrupt people will always be corrupt.
From the first bitcoin was created by Satoshi Nakamoto, the price of bitcoin was still very cheap, even some bitcoins were only one burger, the government did not respond to bitcoin and when the price of bitcoin was getting expensive, to be precise in 2017 the government blocked bitcoin and now the price of bitcoin is very expensive, the government has not responded to bitcoin, maybe bitcoin cannot accepted by the government maybe they have their own reasons why they can't accept bitcoin.
as they often say, that Bitcoin cannot be controlled...the reason the government doesn't like Bitcoin is that it is decentralized, meaning that no one will be able to control Bitcoin. if Bitcoin can be controlled then I believe the government will like it and manipulate its value to stabilize it. currently, many governments in various countries are directing Bitcoin to investment assets, even recently China through their central bank said 'Bitcoin is an alternative investment asset'.
1. I don't think the government will abolish taxes, in every country in the world they would want taxes because it is a source of income.
2. For tax collection, it can be done in a simple way, such as charging the goods purchased by the community, including taxes, vehicle taxes, building land and many more, these are sources of tax to the government.
3.To track who owns the money from BTC, KYC can be done on each government exchange can coordinate with the exchange for easy tracking.
2. For tax collection, it can be done in a simple way, such as charging the goods purchased by the community, including taxes, vehicle taxes, building land and many more, these are sources of tax to the government.
3.To track who owns the money from BTC, KYC can be done on each government exchange can coordinate with the exchange for easy tracking.
From the first bitcoin was created by Satoshi Nakamoto, the price of bitcoin was still very cheap, even some bitcoins were only one burger, the government did not respond to bitcoin and when the price of bitcoin was getting expensive, to be precise in 2017 the government blocked bitcoin and now the price of bitcoin is very expensive, the government has not responded to bitcoin, maybe bitcoin cannot accepted by the government maybe they have their own reasons why they can't accept bitcoin.
If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
This of course will not be possible, because if the government eliminates the banking sector, automatically fiat currencies will no longer be produced, then of course there will be a massive economic crisis.
They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
The banking system must be considered as part of the state, since it is a product of the state and banks are directly involved in the regulation and maintenance of the state's economy. The states pursue their credit and financial policies through the banking system. Therefore, banks will exist because they are under the protection of the state.They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
States will be forced to regulate the circulation of cryptocurrencies and this should be treated as an inevitable process. The national money of states will also not disappear anywhere, they will exist as long as the states exist. Therefore, the cryptocurrency will circulate in society only along with the money of states.
The banking system is a private-company, the Federal Reserve Bank is a private company.
What's most fascinating is that essentially the same old geriatrics that run the FSB, are the same kind of people that control BTC-CORE.
The original Satoshi narrative said "We're our own bank, we're bypassing FIAT", we we find out that BTC is controlled by the same people, with the same end goals.
Where is the Freedom-COIN?
The 'banking system' scam is now 400 years old in the West, China tried paper-money some 2,000 years ago and quit because of the scammers destroying the currency. We were told in the BEGIN that BITCOIN was going to solve this problem, now we find out that today's BITCOIN make USD-CASH look like honest money. At least with the 'banking-system' there is recourse, with bitcoin when you get robbed, you can't even seek retribution.
Will the GOV accept it? Let's see the GOV is not of the people, the GOV is of the CORPORATIONS; The Corporations would like nothing more than to generate their own company-scrypt to be spent at the company store, that was where jack-ma was taking his empire, before CCP shut him down.
No in the USA wild-west capitalism, the bitcon company store model, especially under the MUSK paradigm is a wet-dream for the likes of BIT-CORE & FSB.
Lol, did you really say 'abolish' in your first question? Lol, that's really impossible.
The government can never do such to the banks, at least not the sector that they earn from;
The government earns a lot from the banking sector so, not happening in such way.
The government can never do such to the banks, at least not the sector that they earn from;
The government earns a lot from the banking sector so, not happening in such way.
In some countries, there are local governments that are already accepting it as a payment. They're putting those QR codes at their front desk and whoever prefers to pay it, they are allowed to pay their dues and taxes through it.
It's still limited but everything starts with little and soon that this is going to change and there will be more of them that will start accepting it.
The existing technological advances should be able to be accommodated by placing and taking actions that might facilitate services to the public in general, especially during a pandemic like this, of course, it is clearly more activated for the purpose of controlling transmission. however, not all can and are able to implement it as happened in some countries, because the capabilities and situations of each country are clearly different, but for progress and improvement it is something that needs to be continuously supported. It's still limited but everything starts with little and soon that this is going to change and there will be more of them that will start accepting it.
Every country is going into that advance and no matter how they delay themselves into progress, someday they'll adopt it.
People in some countries have been arguing about Bitcoin, but people in most countries are directly and indirectly involved in Bitcoin. Although the governments of different countries have issued government administration rules to ban bitcoin, it is not at all possible for the government to remove it from the people. Again, the governments of different countries are supporting Bitcoin in a new way. However, I can say that Bitcoin will be the most accepted currency in the world in the future.
This of course will not be possible, because if the government eliminates the banking sector, automatically fiat currencies will no longer be produced, then of course there will be a massive economic crisis.
They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
The banking system must be considered as part of the state, since it is a product of the state and banks are directly involved in the regulation and maintenance of the state's economy. The states pursue their credit and financial policies through the banking system. Therefore, banks will exist because they are under the protection of the state.They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
States will be forced to regulate the circulation of cryptocurrencies and this should be treated as an inevitable process. The national money of states will also not disappear anywhere, they will exist as long as the states exist. Therefore, the cryptocurrency will circulate in society only along with the money of states.
The government still treats crypto as a fraudulent earning scheme and nothing more than a competitor to the traditional financial system.
Not all but through KYC regulations, they don't like a lot of people holding something that is way beyond their discretion.That's why some Bitcoin ATMs are god-send if you don't have someone to do p2p transaction.
This of course will not be possible, because if the government eliminates the banking sector, automatically fiat currencies will no longer be produced, then of course there will be a massive economic crisis.
They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
They will collect taxes through the exchange of each transaction.
Corruption is inevitable because it is inherent in human nature.
The Bitcoin price regularly reacts with markdowns as soon as government representatives announce that they will regulate the cryptocurrency in one way or another. Although radical measures against its use have been enacted in numerous countries, ranging from a ban on banks managing Bitcoin to a general ban, none of the laws have been able to exert a lasting influence on the Bitcoin price. And that is likely to remain the case.
I feel that the government is forced to eventually accept it, they have no way of enforcing for people to not use it without being authoritarian.
Countries like Canada already have PUBLIC exchanges like Netcoins, which means they are getting more and more integrated organically!
Countries like Canada already have PUBLIC exchanges like Netcoins, which means they are getting more and more integrated organically!
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
1. There will be less possibilities for all 100% of one country's people are going to adopt bitcoins so that their central bank to be abolished. It might take decades of time for each and everyone to adopt bitcoin because bitcoin is highly technical one which may not be suitable for old agers and illiterate.2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
2. Only taxation based on how much you're earning might not be possible but there will be no problem on collecting taxes on buying and selling services and goods.
3. Corruption or money laundering or tax evasion are not new things just because of bitcoin payment system. Government must improve themselves to catch such incidents.
Will the government accept it ,? The answer could be, because the currency in digital now has a very, very important role for the world, because when digital currency can be used like fiat currency, the government will automatically make its own policies to solve the problem of corruption and tax collection from bitcoin. , and we also hope that the government can accept bitcoin like other countries that already understand the advantages of bitcoin ..
That's saying a lot, I mean there is a reason why countries have a central banks. Also, digital currency isn't that widespread yet so I don't think that we are going to be abandoning banks anytime soon. Also, do you think the banking magnates are going to let that happen? They will lose power and I don't think that they are going to like it and they are going to do anything to keep that power. Jump to: