The government and Bitcoin

[Domithra]

Governments are much more interested in centralization where they can exercise much power in the financial transactions of the people. With this, the government can implement its tax regulations on businesses, but here is the case Bitcoin doesn't allow the full autonomy of the government over the transactions of the people, thereby causing a conflict between these two entities.

[Alcor]

So far, this is one of the biggest contradictions that does not allow states to quickly legalize the currency. The contradiction between the decentralized nature of the crypto currency and the interests of the government, which has always been in control, will remain a stumbling block to them always.

[u01p113]

 Every government in the world wants to control every money transaction. Right now it is hard to do with Bitcoin but I believe in time they will come up with the solution.

[CryptoJolly]

Yea I also think it is just the matter of the time. I think decentralization concept will be killed , but blockchain technologies used for future instruments.

[masudginanjar]

Bitcoin does not need to be legalized by the government, because when it is legalized it will be centralized, as the Bank accepts Bitcoin with one server from various customers.

when Bitcoin is centered it is very dangerous, because when it is cracked it will all get hit.

[Omega]

In my opinion once bitcoin and government goes together to promote the common good for citizens and economic growth purposes will be greater than what it is today's issue of value volatility and government regulations for everybody's gain.

[sugarchrisp]

While I completely agree with the decentralization aspect of bitcoin, I fundamentally disagree with using it to avoid taxes.  Society NEEDS money to fund things that the public uses, roads, bridges, schools, hospitals, firemen, police, parks.  Taxes are the only way we can pay for these things, and while very wealthy people avoid taxes all the time, that doesn't mean we should.  Society would fall apart without the resources that come from taxation.  The wealthy people who avoid taxation will eventually fall, but it may take a long time for that to occur.  We cannot and should not follow their lead and dodge as many taxes as possible, we just need to make them pay their fair share. 

[Moykoy]

the government can apply its tax rules to businesses, but here is the case of Bitcoin does not allow the full autonomy of the government over people's transactions, causing conflict between these two entities.

[Master107]

Government helps bitcoin to grow and will progress as much as they can. Sometimes government doesn't want to let bitcoin subdue the land of economy because they have something to be afraid of losing fiat instantly without solid preparation.

[altcoingamer]

While I completely agree with the decentralization aspect of bitcoin, I fundamentally disagree with using it to avoid taxes.  Society NEEDS money to fund things that the public uses, roads, bridges, schools, hospitals, firemen, police, parks.  Taxes are the only way we can pay for these things, and while very wealthy people avoid taxes all the time, that doesn't mean we should.  Society would fall apart without the resources that come from taxation.  The wealthy people who avoid taxation will eventually fall, but it may take a long time for that to occur.  We cannot and should not follow their lead and dodge as many taxes as possible, we just need to make them pay their fair share.

I'm fine as long as they are taxed fairly and I think in some cases, this is definitely not the case.. like to like trades is an absurdity and short-term capital gains vs long-term capital gains is a bit over the top too...just tax it based off of long term capital gains and only tax cashout transactions.. taxing TRX to BTC is like taxing magic the gathering cards trades.. its either money or it isn't...they don't get it both ways.

[expander]

In fact, the government still has complete control over financial regulations. But I am sure, if they have more knowledge about what bitcoin is, technology and the benefits of bitcoin, they will accept the existence of bitcoin. This is only a matter of time.

[JasmineRose]

Every government in the world wants to control every money transaction. Right now it is hard to do with Bitcoin but I believe in time they will come up with the solution.

You right, payment system is not simple think. Need carefulness to make it go well

[Doctor]

Governments are much more interested in centralization where they can exercise much power in the financial transactions of the people. With this, the government can implement its tax regulations on businesses, but here is the case Bitcoin doesn't allow the full autonomy of the government over the transactions of the people, thereby causing a conflict between these two entities.

Yes It is true, I think The government shoukd acceot and legalize bitcoin. Because many advantages of bitcoin.

[Eben]

Governments are much more interested in centralization where they can exercise much power in the financial transactions of the people. With this, the government can implement its tax regulations on businesses, but here is the case Bitcoin doesn't allow the full autonomy of the government over the transactions of the people, thereby causing a conflict between these two entities.

I strongly believe this conflict can be solved to allow the acceptance of bitcoin by government some time to come. It’s food that government use money from taxations to undertake developmental projects in countries thereby not having this full control of it has led to it’s rejection in various countries but I believe something will be done to address it.

[TERMINO]

We all know the government is powerful, the only one who have the key to make every impossible into possible or vice versa. Bitcoin is indifferent way which is decentralized system. This kind of system is what the government doesn't like anymore. Centralized way versus decentralized is very difficult to mingle each other. No progress and improvement if no one step down.