Post
Topic
Board Economics
Re: Government & Bitcoin
by
arallmuus
on 06/06/2015, 17:47:09 UTC
Actually only a small part of the "government" are aware of BTC threat and most of them are still lenient on it and perhaps dont know about satoshi at all.

I'm not sure about that, since each country have a minister that related to economy, technology, or social which the minister has to know about society issues that can give effect to his work like bitcoin.

There is a difference between "heard of" and "know". Basically most people heard of BTC but that doesnt mean that they know the actual meaning of it and/or purposes of it. Most country even viewed BTC as rather an asset, goods or trading instrument which ofcourse they thought that it is harmless and not a currency that posses threats to their their economical system.

Some country banned BTC because they knew the risk of it, some country do support BTC and most country are being on the gray zone for it because they have absolutely less knowledge about what it is and rather just treat it like goods instead

Its up to the government if they want to know deeply or just heard of. But, if bitcoin affected the country economic system, the government won't just stay and let it be happen. Don't underestimate the government, we don't know what really the government will do about bitcoin behind us.

Unfortunately, BTC posses no threat to the economic system for now. It is still treated as a stocks and not as a currency, the value of it is still being manipulated and it will be years from now before the goverment will be taking about this threats seriously.
Basically the government could do nothing about it since it is a decentralized currency which means that any government wouldnt be able to put up anything to restrict it , best thing they could do will be banning and it will be absolute pointless because all you need is a simple internet to access your BTC (beauty of crypto world)

there is another thing they can do(and probably is the best thing for us), instead of banning it they will propose something alike, like their own centralized coin, to steal users from bitcoin, by offering more security and better regulation, while leaving bitcoin as it is

many will just choose the gov coin and leave bitcoin to criminal basically...this could damage bitcoin enormously

Interesting, unless you forgot they got their own "centralized coin" already which is called FIAT in the shape of physical coin like a penny and this is just like changing FIAT into the shape of crypto FIAT which is highly unlikely going to happen because it serves them no more benefit then using FIAT itself

But why they need to collect tax from bitcoin?

By putting some tax on it, it will then discourage people to use it. People tend to avoid tax so if this is going to happen then their motive will be either discouraging people to use it by putting a high tax percentage on it and/or collect some extra profit from the people who use  it (likely going to happen)

I'm not sure if people prefer to any crypto coin that be provided by government, since government won't make something that can't give high profit something back to them.

Exactly, corrected some part of it

So if they really make that, the fee will be higher.

Or it will be no different than FIAT at all unless the digital part