Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Octoalts on February 13, 2019, 03:58:47 PM
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In my opinion, the government plays a very important role in the development of Bitcoin in a country. For example, a government announces that it will accept Bitcoin in that country, so I'm sure the development of Bitcoin in that country will be very fast!
What do you think, the Government or the community who play an important role in the development of Bitcoin?!
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Governments have a great rule in development of bitcoin, firstly they should accept bitcoin as their trading platform with along their banking system.
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For the government who support Bitcoin, it is absolutely very crucial factor to improve Bitcoin. Bitcoin will be accepted for investment or payment tools in most countries in the world. It needs support from most governments from many countries around the world.
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The state undoubtedly plays a very important role in the development of bitcoin and other cryptocurrencies, but states should be interested in cryptocurrency themselves, and not be forced because of the interest of the population!
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Let's be clear on this, Governments cannot affect the development of Bitcoin but they can influence its adoption. If they can pass friendly regulations, then expect an increase in users.
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~snip~ Governments cannot affect the development of Bitcoin but they can influence its adoption. If they can pass friendly regulations, then expect an increase in users.
I have a different view. I think government may have big influences on Bitcoin's development. We must know that every news telling us the bans from many governments can reduce significant price of Bitcoin. But if more countries accept Bitcoin, the price of Bitcoin can increase.
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A government should have a lots of work development the bitcoin. A government should permit bitcoin beside their banking system, then bitcoin would be global acceptance currency.
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Yes, the government of nations has a crucial role in the adaptation and usage of bitcoin globally. Most countries are scared to give it a try because financial control will go out of their hands. It government of nations will accept bitcoin its price will be more stable and other altcoins will do well too.
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I think governments have big roles to develop Bitcoin. Their acceptance for Bitcoin will increase the prices. For example in my country, when there is an issue of prohibition for crypto investment, many people think twice to participate in Bitcoin businesses. But when the prohibition is revised, many people are interested in participating.
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I think governments have big roles to develop Bitcoin. Their acceptance for Bitcoin will increase the prices. For example in my country, when there is an issue of prohibition for crypto investment, many people think twice to participate in Bitcoin businesses. But when the prohibition is revised, many people are interested in participating.
Yes. and they can do something else too. Crypto friendly regulations, to attract blockchain startups and blockchain companies.
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~snip~ Governments cannot affect the development of Bitcoin but they can influence its adoption. If they can pass friendly regulations, then expect an increase in users.
I have a different view. I think government may have big influences on Bitcoin's development. We must know that every news telling us the bans from many governments can reduce significant price of Bitcoin. But if more countries accept Bitcoin, the price of Bitcoin can increase.
You are referring to adoption as MVT already said. Government bans only affects the adoption and not the technical developments of Bitcoin. Unless you think development and adoption are the same.
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Of course, states play a very significant role in the development of cryptocurrency. Without legalization of cryptocurrency by the state, it cannot be widely used by business structures and citizens. Without legalization, it is impossible to create the cryptocurrency infrastructure as a payment system; for this to work, the regulatory framework of the state is needed.
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~snip~ Governments cannot affect the development of Bitcoin but they can influence its adoption. If they can pass friendly regulations, then expect an increase in users.
I have a different view. I think government may have big influences on Bitcoin's development. We must know that every news telling us the bans from many governments can reduce significant price of Bitcoin. But if more countries accept Bitcoin, the price of Bitcoin can increase.
You are referring to adoption as MVT already said. Government bans only affects the adoption and not the technical developments of Bitcoin. Unless you think development and adoption are the same.
I was actually referring to technical developments. Thanks for clarifying.
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Technical developments will enforce the governments to use new technologies. If someone is following the cryptography evolution, will remember, that before 10 years, there were proposals, for governments, to ban cryptography, and classify it as a weapon. Now, the governments, use cryptography for e-signing documents, and securing data uploaded to the tax servers. I think that the same will happen with cryptocurrency, we just have to wait, because the time is not right.
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Yes I agree that the government has a very important role to play in the development of Bitcoin, however the government has a big influence on its people. when the government announces that it will accept Bitcoin, then people in that country will flock to Bitcoin.
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I don't really know about how important the role of government, but when government states to accept it then the price of Bitcoin can increase suddenly. It can describe the role of government along the improvement of Bitcoin. However, there are many countries that don't accept it yet. It is a real obstacle.
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Bitcoin can exist without a state and people can use it as an investment vehicle and as a means of payment. However, without legalization of cryptocurrency by the state, it will not be able to develop further. The infrastructure for the use of cryptocurrency will be developed only with the support of its states.
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Bitcoin is being developed not as fast as it could be because governments do not want to legalize bitcoin in all over the world. When this will happen, we will see a completely different bitcoin and bitcoin will grow and will develop much faster.
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Bitcoin without the role of the government can progress rapidly. If the government can support it wholeheartedly, or at least it can provide an opportunity for legal in his country. Bitcoin can certainly dominate the market or can master fiat money.
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Bitcoin without the role of the government can progress rapidly. If the government can support it wholeheartedly, or at least it can provide an opportunity for legal in his country. Bitcoin can certainly dominate the market or can master fiat money.
Without Bitcoin legalization by the state, its further development as a means of payment is impossible. Business structures will not take risks in order to massively switch to Bitcoin calculations, because they will start having problems with the tax authorities. Only after the legalization of Bitcoin by the state is it really possible for it to be widely used since only then will the infrastructure for carrying out practical calculations in Bitcoin through shopping centers grow.
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the government is very instrumental in the development of bitcoin in the future, and the announcement of the government's announcement has a profound effect on the increase and decrease in the price of bitcoin.
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Sometimes, it holds big influence because it determines how far we can involve ourselves in the crypto world. If it is not legal and forbidden in a country, it will really limit us to make crypto and enter in this crypto world.
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Sometimes, it holds big influence because it determines how far we can involve ourselves in the crypto world. If it is not legal and forbidden in a country, it will really limit us to make crypto and enter in this crypto world.
There are less than ten countries in the world that had banned bitcoin. There is a great misconception.here. Legal tender is something different than legal/illegal. In most countries, it is not legal tender. This means, that you cannot pay taxes with it. It is legal to be used, you just have to find fiat money, to pay the taxes on a Bitcoin related transaction. I have to clarify, that many countries, have exempted buying/selling bitcoins from taxes. Only when you buy goods/services with Bitcoin, you have to pay sales tax, VAT, or whatever.
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It's really confusing, because many countries are against cryptocurrencies as whole, they reject the idea of "online money" - some of them even ban crypto and activities around them - but also more and more governments decide to support crypto, invest in them, they see a potential in it. It's sad that we as a humanity can't agree in anything ;/
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It's really confusing, because many countries are against cryptocurrencies as whole, they reject the idea of "online money" - some of them even ban crypto and activities around them - but also more and more governments decide to support crypto, invest in them, they see a potential in it. It's sad that we as a humanity can't agree in anything ;/
Most small countries, see cryptocurrency positively, because it is easy, to be a hub, of many blockchain projects, Other countries, are big, and they rely on their size to be against. Although, in history ,there are many examples where big where defeated from small.
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Taking into account historical development, it could be seen that government did not have any influence in creation or acceptance of crypto currencies. The only interference was when their officials say that they will regulate or ban cryptos. Then the price would usually drop
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bitcoin has always been a decentralized body on its own. i don't thing it have anything to do with the government. the government has little or no role on it. i think countries that are in recession might use bitcoin as a means to settle some financial issues.
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Bitcoin doesn't need to be developed by the government!!
Bitcoin is real like that.
What must be developed is that anyone who supports Bitcoin must always be developed.
Example nay is the new altcoins that have been developed through ICO, IEO, TEC or whatever.
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Yes the development of Bitcoin and crypto will soon supported by government, and they will be the main reason for the market to recover
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The role is all the concern about what govern make their step.The development will be on high process if govt support.
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If cryptocurrencies will be adopted by the government, that means a whole mass adoption for a country, they can impelement the regular use of crypto which will be a good thing for the cryptoworld
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The government plays a very large and significant role in the development of Bitcoin and cryptocurrency in general. Without legalization of cryptocurrency by the states, the infrastructure for using Bitcoin and other cryptocurrency as a means of payment cannot be developed. Bitcoin without the support of states will remain for use between citizens. Therefore, cryptocurrency needs legalization and regulation of conditions of circulation on the part of states. Only after that cryptocurrency will be able to develop rapidly in society.
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The administration who support Bitcoin, it is totally extremely critical factor to improve Bitcoin. Bitcoin will be acknowledged for speculation or installment apparatuses in many nations on the planet. It needs support from most governments from numerous nations around the globe.
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In general, I don't think governments have anything to do with development of bitcoin. As we know, bitcoin was created to eliminate the involvement of third parties in sending/receiving money. Obviously, those "third parties" include state owned banks. Of course, there maybe this government or that government show interest to bitcoin but that can't hide the fact that their impact is way too subtle.
I only see that governments play a big role in the development of blockchain as the practicality of this technology in real life is undeniable.
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In general, I don't think governments have anything to do with development of bitcoin. As we know, bitcoin was created to eliminate the involvement of third parties in sending/receiving money. Obviously, those "third parties" include state owned banks. Of course, there maybe this government or that government show interest to bitcoin but that can't hide the fact that their impact is way too subtle.
I only see that governments play a big role in the development of blockchain as the practicality of this technology in real life is undeniable.
Absolutely right. Bitcoin was not made to be backed by any third party (government, bank etc). It's strange, how people, want to change it, to become mainstream. If you want a government backed currency, then fiat, banks and visa and other cards are fine. Bitcoin's strength is, that there is no need of a third trusted party. Change this, and it is not Bitcoin any more.
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I agree with you.
Although many people say that Bitcoin is a digital currency, a decentralized coin, the government still holds the influence of its development is a country.
A government has the right and power to ban BTC and it will really influence the society to have activities with BTC and other cryptos. There may be many negative issues that will be delivered through the media in the country. Although some people may still involve in BTC, they will be very careful and limited to access.
On the other hand, if the government legalize or doesn't ban BTC, it will lead the citizens of the country to enter in the crypto world especially BTC more freely. ANd moreover when BTC can be one of the currencies to be used.
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Government - Bitcoin - Regulation.
Community - Bitcoin - Traders.
The government will make a price fluctuating effect on Bitcoin.
Traders will continue to be in the shadow of the government to continue to trade and profit.
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Only Satoshi Nakamoto can answer that question in detail, I think.
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Only Satoshi Nakamoto can answer that question in detail, I think.
Satoshi Nakamoto himself did not know what would happen to bitcoin after a certain time. He stated that in twenty years, either there will be many Bitcoin transactions, or there will be no transactions.
As for the government of each state, it plays a very important role in the circulation and development of cryptocurrency in the country. It establishes the legal status of cryptocurrency, determines the procedure and conditions for its circulation in society. This means whether cryptocurrency will be recognized as a means of payment and and how it can be used as money. These conditions are very important for cryptocurrency.