How bitcoin development? Encryption education and the participation of the government are indispensable currency

How bitcoin development? Encryption education and the participation of the government are indispensable currency

A major factor is the mainstream to bitcoin community users. However, community and government cooperation also cannot be ignored.

Most potential users benefit from the bitcoin system in most of whom are from countries that financial institutions decline or currency is extremely unstable, including Latin America, Africa, Asia, Ukraine, Russia and greece.

Although this encryption currency exposure rate is very high, but to truly become the mainstream bitcoin, is officially recognized, is not so simple.

The government is reluctant

Bitwage President Jonathan of Chester? (JonathanChester) believes that the popularity of bitcoin is to rely on the strength of the people, can not expect the government to. He said, wait for the government to spread bitcoin like a never possible train.

If a threat to the authority of the government issued currency, then it will never be recognized, regardless of people’s idea, the result is the same.

Chester said, at the beginning of 2011, bitcoin market has just exceeded $1 million 500 thousand. At that time, most users are technicians and cryptography punk. If the government has to pay attention to bitcoin, that it is only minor. Chester pointed out that in 2014 the Financial Crimes Enforcement Network (FinCEN) according to the provisions of bitcoin and the subsequent introduction of the IRS (IRS) tax guidelines have proved that after the government until 2013 began to take corresponding measures, then, bitcoin prices soared from $250 to $1000 for the moment.

The government’s response

Chester said that the government can be seen from the price rising currency bitcoin support rate rose steadily. The government had private chain financial institutions have made research on thermal response, and now, with the development of bitcoin growth, the government must once again to show its attitude.

Chester said:

The government’s response to indicate the direction for the people, and the development depends on the people. The popularity of bitcoin can be said to be a process of education. The most important is the cognition of the specific cases and bitcoin security.

Effect of cryptography education bitcoin

Chester stressed that for western countries, mainly lies in the value of bitcoin investment or cross-border payment function. In other countries, bitcoin is a robust hedging system and domestic means of payment. Once the user understand the specific case, security is a key.

Chester and Bitwage have been devoted to cryptography education, aimed at persuading the enterprises and their employees to choose bitcoin cross-border wage payment service. Compared with the traditional model, this kind of service can not only save time and save cost.

Although we do not force the sender to register, but when the US and Brazil, India or Philippines’s outsourcing providers to communicate, they always ask: why your fees much lower than the traditional model? When they know the important role played by bitcoin, they will always plaint oneself in the bitcoin security aspects of the lack of knowledge. Bitcoin can not only improve the efficiency but also the sales process to avoid potential loss of users.

At the beginning of each contact bitcoin people would feel puzzled: what is bitcoin payment hedge or the Internet? Why these two functions of education is so important?

The necessity of cooperation

However, Chester believes that the cooperation of the government and is very important, must emphasize the bitcoin community credit operation attitude. As a result, to the stage of legislation and law enforcement, the government is willing to open talks and bitcoin industry, the final regulatory rules will be more fair.

Chester said the best proof of California bitcoin regulatory process is the community and government cooperation recently. In the premise of cooperation, both sides abolish a bill. The bill brought great unfairness to curb the industry innovation.

He concluded that the petition IRS recently launched a real challenge to the community. IRS audit Coinbase user information can be seen as a test of the government the bitcoin industry company integrity.

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