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Author Topic: What will happen if Bitcoin gets official permission from the government...???  (Read 1797 times)
iMark
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October 10, 2018, 12:13:57 AM
 #161

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?
it is also possible for the government to intervene in BTC or altcoin transactions, possibly doing so through the bank or other party. this will greatly benefit government, users and also BTC.
if legalization and regulation are regulated, basicly the government cannot interfere with transactions between recipients and senders, they only use third parties such as exchanges to monitor for the benefit of the government, if you do not use third parties such as exchanges then the government cannot intervene anything on you

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October 11, 2018, 11:28:10 AM
 #162

Of course the government will take advantage from every transaction,the reason why the government want to interfere is because the government want to taxes the transaction, the government interference could be bad and good depends on the regulations

One of the advantage that the government would be able to get when it regulated bitcoin is that it can get some tax from the transactions which would become a win-win situation for both the crypto enthusiasts and the government because they can both benefit from it. It would attract more users as well because many people just believe something when it is legalized and if it will happen then more people would consider being involved in cryptocurrency.
bitcoin does not provide for the presence of a third party in the calculations. all that the government can do is to launch special applications for cryptocurrency payments, which will be able to collect taxes from operations.

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October 11, 2018, 11:29:44 AM
 #163

I don't know why many of the countries don't want to accept crypto... They have no option left right now they should accept the truth of crypto right now and should make it legal.

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October 11, 2018, 11:33:35 AM
 #164

This is what has become a polemic until now why bitcoin is still not acceptable in the government, because there is no interference and the institution is watching, so bitcoin tends to be very risky for a crime.

Hopefully, in 2019, there will be positive news about the ETF which will be held in 2019 regarding the legality of bitcoin.

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October 11, 2018, 11:41:17 AM
 #165

What a weird question. Bitcoin is designed precisely with not requiring government permission in mind. It's like asking "what if torrents get official permission from the government". What then? It changes nothing, as bitcoin same as bittorrent is deisgned as a decentralized, uncensorable p2p protocol. Furthermore, "official permission from the government" would mean requiring KYC/AML on any step of bitcoin buying, selling, trading or transferring, or using centralized, censorable exchanges that can steal your funds under any pretense (like your money being so-called "tainted" bitcoin, which is absurd).

tl;dr - bitcoin doesn't need an "official permission from the government"  Smiley
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October 11, 2018, 11:50:02 AM
 #166

If bitcoin gets official permission from the government, the public will be positively inform about bitcoin and cryptocurrency then the demand will goes up as well as its value.

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October 11, 2018, 12:08:13 PM
 #167

When the government issues an official permit for Bitcoin, of course it becomes a policy that will be followed by everyone in the world because it will make it easier for Bitcoin users to do anything related to this digital currency technology. But the fact that there is currently still a country that has not fully legalized Bitcoin there are even countries that prohibit it.
bitcoin gets permission from the government, maybe that is the hope of investors because with the permission of the possibility of security and comfort in investing, it would be better if the government permit would make investors experience losses and less comfortable investing, maybe the permission from the government is not given

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October 11, 2018, 12:11:12 PM
 #168

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?
Significant falls in the past mean that this can happen in the future on a larger scale. And then those 30 corporations that are included in the DJ index can, for example, simply withdraw their shares from the exchange.

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October 11, 2018, 04:38:50 PM
 #169

Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?

No, the government cannot control the bitcoin even if they allow it. Bitcoin is decentralized, and other altcoins as well.
if government allow crypto in every countries, then massive adoption of crypto will be occurred because everyone can use it without being banned.

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October 12, 2018, 12:50:12 PM
 #170

If bitcoin gets official permission from the government, the public will be positively inform about bitcoin and cryptocurrency then the demand will goes up as well as its value.
If bitcoin gets legality from the government, its sales will certainly rise soon, because this is very good news. Because despite getting rejection from several countries, bitcoin is currently growing and the number of sales is increasing year by year.
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October 12, 2018, 01:12:11 PM
 #171

Bitcoin users remains anonymous so government cant interfere with it. Only if that certain country wont allow merchants to accept bitcoin transactions.

If bitcoin will be regulated, then demand on bitcoin will probably rises and makes its price grow higher. This will be a great news to all crypto investors and at the same time many people will be going to accept and use bitcoin.

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October 12, 2018, 02:58:03 PM
 #172

I think the price of bitcoin will rise same as fees in money transfer and different payment transactions.
what I think is that the noise from financial matters is very confusing and there must be positive about the needs of other people will be helped and myself and the transfer will make it easier for my transactions to think like that

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October 14, 2018, 01:03:33 PM
 #173

If that happens the government will controll and impose taxes to all the transactions made via crypto currency market as well as the exchanges. There would be no more anonimity of the transaction and everyone should go in the process of taxes.

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