Bitcoin vs the government - page 5. | Bitcointalksearch.org

josephsonand

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

Government and their fear for Bitcoin!

Bitcoin as a decentralized digital currency that operate without a financial system or without being controlled by the government is really creating panick and fear in most government officials.

The government just want to be in charge of everything, from monitoring your transaction to knowing how much people are worth financially, but Bitcoin is becoming too powerful for them too handle, which to me is understandable, but to them it's a ugly reality.

Financial power and control is returning back to the people, which is a welcome development.

The sweet reality is that Bitcoin is here too stay, if they ban Bitcoin the mass will rise up against them, so they are just looking for a way to contain the influence of Bitcoin and discredit it.
To me Bitcoin is one of the best thing that has ever happened to finance because everyone loves privacy.

One thing I love about Bitcoin is that when the haters voice grows louder and the value drop base on their policies, just to attack it, Bitcoin still fight it way back up,

Please the government need to know this, they have already lost.
All the bitcoineers cheers

Agreed, financial power is shifting. While Bitcoin stands strong, XGo quietly delivers on its promises. The XGo id feature makes crypto life easier, and the platform's compatibility with hardware wallets adds an extra layer of security. My appreciation to both Bitcoin and XGo!

yazher

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I don't really think that the government has some kind of grudge against bitcoins rather someone is behind the ban and probably paying them for not making bitcoins available in their country. thankfully in our country, they are just being neutral and taking advantage of the local exchange taxes which is not that bad because we can freely use bitcoins and also can decide to accept them as payment in our stores. In some cases, others are taking advantage of it in a bad way where they used bitcoins and other cryptocurrencies as props for their Ponzi Scheming.

hd49728

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Quote from: 0t3p0t on October 02, 2023, 04:56:05 AM

The government is only concerned in money laundering as it can be used to fund terrorism or any illegal activities.

Do you know criminals don't only use Bitcoin, cryptocurrencies to launder money but they also use cash?

Governments hate Bitcoin and cryptocurrencies not because their worry about money laundering through blockchains, mixers but they care more about future of their fiat currencies and CBDCs.

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That is why local cryptocurrency exchange will undergo regulations. I don't think I have a problem with that as I am a law abiding citizen myself. Central bank only issued warnings to users of possible scams on cryptocurrency but has no restrictions in fact we are a Bitcoin friendly country.

More regulations like AML, KYC are not only to fight against money laundering or scam but they do it to have better regulation on taxation and ultimately they want to charge as much tax from their citizens as possible.

0t3p0t

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The government is only concerned in money laundering as it can be used to fund terrorism or any illegal activities. That is why local cryptocurrency exchange will undergo regulations. I don't think I have a problem with that as I am a law abiding citizen myself. Central bank only issued warnings to users of possible scams on cryptocurrency but has no restrictions in fact we are a Bitcoin friendly country.

Victorik

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Quote from: Latviand on October 01, 2023, 10:19:52 AM

Quote from: Victorik on October 01, 2023, 09:57:48 AM

The concept of Bitcoin is decentralization and that is what the government is not happy with, and it is understandable why so. But the Advent of cex, where one has to pass kyc, before you can transact, are we not going the ways of conventional banking system?

Well, not everyone who knows about bitcoin knows how to transact like how it was used to be back then, there are old people out there that probably want to buy bitcoin but they have a limited understanding of how to move their bitcoin and CEX just so happens to make their lives much easier. I don't think that we're going to be going back to the conventional system because in a conventional banking system, even if you store your money for a long time, the growth is probably not enough to buy you a McDonald's meal for five people unlike with bitcoin where the volatility could lead you to be able to afford that meal in a short span of time.

I understand your point clearly. In the banking system, because of rising inflation, your money kept with them tends to lose value overtime.
But my point is that the CEX is negating the whole idea of decentralization because if the government want to, they could know exactly what you are worth on these exchanges, because there is aname, an address to your account, and these exchanges have these details.

Zoomic

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

The sweet reality is that Bitcoin is here too stay, if they ban Bitcoin the mass will rise up against them, so they are just looking for a way to contain the influence of Bitcoin and discredit it.

Mate, you are so so wrong in this statement you made. Kindly understand that government has not banned bitcoin is not because they are afraid of the masses because the masses cannot stop government from banning bitcoin. If any government bans bitcoin, the masses will do nothing aboit it.

The reason why government of the world has not banned bitcoin is simply because they cannot ban it and not for the fear of the masses. The government of the whole world cannot unanimously agree to ban bitcoin. While some countries would be busy banning bitcoin, some will be busy adopting it.

aylabadia05

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

Government and their fear for Bitcoin!

[snip]

Please the government need to know this, they have already lost.
All the bitcoineers cheers

There is no resistance between Bitcoin and the government because Bitcoin is not a system of rebellion against the government financial system in the world. Governments in many countries around the world still provide opportunities for Bitcoin activities carried out through investment and trading.
Maybe you have heard about crypto-friendly countries like Germany.
Like in my country, the government still provides opportunities for people to use Bitcoin but it is not permitted as a means of payment.

Bitcoin is presented as a convenience in the financial system that allows people to freely carry out transactions with the most transparent network. That's what makes Bitcoin so great and recognized by the world.

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Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own." - Satoshi

Blitzboy

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Quote from: TheSpiral on October 02, 2023, 01:12:29 AM

May be in some countries bitcoin is an acceptable currency therefore in those countries if banned occur then people will not set silent but most of the countries don't allow its transactions and investment yet. The thoughts of each leader of each country is different from others some will consider bitcoin as a better technique to overcome inflation but some will think opposite to this statement.

We are not so old to identify the truth but leader of our country better understand the things so if they are trying to cease the bitcoin investment then surely there will be a featured full thoughts behind it. Bitcoin investment can overcome inflation but its impact is also worse on some individuals as they don't use it for introducing as ease to their lives but they alter the use of bitcoin into something criminal job.

It is seen as a hedge against inflation in some countries while skeptically in others due to its potential misuse. Your trust in leaders is admirable, but their viewpoints and biases may not match economic and technological advances.

What if leaders are unaware of technology's economic benefits? Will their judgments stand?

We all, you, me, everyone, must continue to educate ourselves about Bitcoin and its implications. Your concerns regarding Bitcoin crime are justified. Every technological breakthrough has pros and downsides. The internet had many benefits but also permitted crimes. We must use technology to improve society and prevent its misuse.

legendbtc

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Quote from: Bd officer on October 02, 2023, 02:04:37 AM

Quote from: Kara3 on September 30, 2023, 04:05:00 AM

Government and their fear for Bitcoin!

Bitcoin as a decentralized digital currency that operate without a financial system or without being controlled by the government is really creating panick and fear in most government officials.

I don't know what governments of different countries are afraid of Bitcoin. But if that's what the government of my country thinks Bitcoin is, since Bitcoin is not controlled by the government, whoever owns the Bitcoin will control it. Transactions can be done from anywhere within the country or outside the country. So the government thinks that if Bitcoin is legalized, money will be laundered from the country, people can harm the country by purchasing illegal weapons through Bitcoin, etc. Also investing in Bitcoin is risky, anyone who invests in Bitcoin can get hurt. I think our country's government's misconception is that bitcoin is very popular now, bitcoin is risky but not so risky now. A middle class person can easily get rich by investing in Bitcoin. However, if the people of the country show interest in Bitcoin, surely the government can legalize Bitcoin.

I don't think your reason is valid, money laundering and arms trading are seriously illegal so even if bitcoin is legal or not, those transactions will always be done in the dark. No one is stupid enough to publicly reveal those illegal transactions, so banning or not banning bitcoin is meaningless for illegal acts.

One more thing, is forex and stock trading legal in your country? Because bitcoin like both are financial markets. It would be unreasonable for them to accept the remaining two markets and reject bitcoin for risk reasons.

Bd officer

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

Government and their fear for Bitcoin!

Bitcoin as a decentralized digital currency that operate without a financial system or without being controlled by the government is really creating panick and fear in most government officials.

I don't know what governments of different countries are afraid of Bitcoin. But if that's what the government of my country thinks Bitcoin is, since Bitcoin is not controlled by the government, whoever owns the Bitcoin will control it. Transactions can be done from anywhere within the country or outside the country. So the government thinks that if Bitcoin is legalized, money will be laundered from the country, people can harm the country by purchasing illegal weapons through Bitcoin, etc. Also investing in Bitcoin is risky, anyone who invests in Bitcoin can get hurt. I think our country's government's misconception is that bitcoin is very popular now, bitcoin is risky but not so risky now. A middle class person can easily get rich by investing in Bitcoin. However, if the people of the country show interest in Bitcoin, surely the government can legalize Bitcoin.

TheSpiral

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May be in some countries bitcoin is an acceptable currency therefore in those countries if banned occur then people will not set silent but most of the countries don't allow its transactions and investment yet. The thoughts of each leader of each country is different from others some will consider bitcoin as a better technique to overcome inflation but some will think opposite to this statement.

We are not so old to identify the truth but leader of our country better understand the things so if they are trying to cease the bitcoin investment then surely there will be a featured full thoughts behind it. Bitcoin investment can overcome inflation but its impact is also worse on some individuals as they don't use it for introducing as ease to their lives but they alter the use of bitcoin into something criminal job.

FinneysTrueVision

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The longer it takes for governments to decide how they want to regulate Bitcoin the harder it will be for them to ban it entirely. People have already seen the benefits that Bitcoin provides. It has gained enough adoption that politicians are trying to cater to that demographic. In order to secure support from those that Bitcoin appeals to they must do everything within their power to push back against those who are opposed to financial freedom.

benalexis12

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Quote from: nakamura12 on October 01, 2023, 05:55:09 PM

Bitcoin is indeed decentralized as we all know it but government will try to find a way or something like that. Honestly, there's a wallet provider in my country that is custodial and it is also an exchange where I can buy and sell crypto and it is regulated by the government bank even some e wallet in my country also accept cryptocurrency now which is good for us so we can directly sell it and transfer to bank account or to cash when in need of cash.

That's why the decentralized nature of Bitcoin is the reason that the governments that want to control it hate it. That's why sometimes we see other countries immediately block the innovation proposal that is introduced in their country. Because what the government wants is immediate personal interest.

But even so, no matter what the government does, what they want to happen will not happen. Maybe what can happen in the end is that they accept the fact that they will adapt Bitcoin to the benefit of their country and the people.

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Quote from: Bitcoin_people on October 01, 2023, 11:44:34 PM

Bitcoin is a digital currency that is technologically the most popular currently. One of the main reasons why Bitcoin has gained so much popularity and price appreciation is because Bitcoin is not controlled by any government. And government officials fear Bitcoin because governments of different countries feel that Bitcoin could face various financial problems if it is legalized in their country. If the government were to trade bitcoins, they would understand how valuable they are and legalize bitcoins to improve their country's economic status. Bitcoin transaction is most preferred in different countries nowadays because it provides maximum security and protects a person's privacy, that's why Bitcoin is preferred by people, so governments of many countries have legalized Bitcoin.

I don't understand what you are trying to say. If you want to say that the government should trade bitcoin for profit then they can do it with gold, with the stock market, there is no reason they should trade with bitcoin for profit and ignore the market other finance.

Furthermore, how will bitcoin improve the country's economic situation when it is just a financial market? Don't forget its volatility as well as what are the risks of financial investment? If a government relies on financial markets to improve its national economy, it is the stupidest government I have ever seen.

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Bitcoin is a digital currency that is technologically the most popular currently. One of the main reasons why Bitcoin has gained so much popularity and price appreciation is because Bitcoin is not controlled by any government. And government officials fear Bitcoin because governments of different countries feel that Bitcoin could face various financial problems if it is legalized in their country. If the government were to trade bitcoins, they would understand how valuable they are and legalize bitcoins to improve their country's economic status. Bitcoin transaction is most preferred in different countries nowadays because it provides maximum security and protects a person's privacy, that's why Bitcoin is preferred by people, so governments of many countries have legalized Bitcoin.

summonerrk

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

Government and their fear for Bitcoin!
~~~
Please the government need to know this, they have already lost.
All the bitcoineers cheers

It's amazing how it was possible to create such an instpument as bitcoin on the blockchain, because its most powerful property is that it cannot simply be taken away from people. It is like an idea - it is stored personally by everyone and until the owner himself wants to get rid of it, he cannot be blocked on the account, as it happens with funds on deposit. And let the KYC and other regulatory measures have already been introduced, but this idea is developing further and further.
We live in an amazing time.

jasonjm

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Quote from: Kara3 on September 30, 2023, 04:05:00 AM

-snip-
The sweet reality is that Bitcoin is here too stay, if they ban Bitcoin the mass will rise up against them.

Bitcoin is not a movement or a revolution in which people will stand against their governments to support Bitcoin. The only thing they want is crypto regulation by the country because they are law-abiding citizens and pay taxes. The only thing that the government are fearful of is that they can not control Bitcoin and the privacy of financial transaction; it is a fact that whoever controls the money/resources controls the power.
Every country wants to make more money, and Bitcoin could be the source. They might legalize Bitcoin in the future and start collecting taxes and transaction fees. Anything can happen as far as Bitcoin is concerned.

romero121

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Government always need control over the people. To some extent it is possible, and in the long run people move with the technology and enjoy the benefits. This is what happening with bitcoin and government. Most of the countries have begun to regulate the usage of bitcoin and more centralized exchanges have begun to operate around the world. However the trustworthiness of these exchanges can't be relied much, as they're something similar to the government. For some reason there is no other go than making use of these exchanges.

We need to go with the reality. As time passes, things change and one such is happening with bitcoin. Governments keep on coming with new ways to have control over the funds. In such act, many governments have launched their own CBDC. There is not much popularity with the CBDC.

nakamura12

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Bitcoin is indeed decentralized as we all know it but government will try to find a way or something like that. Honestly, there's a wallet provider in my country that is custodial and it is also an exchange where I can buy and sell crypto and it is regulated by the government bank even some e wallet in my country also accept cryptocurrency now which is good for us so we can directly sell it and transfer to bank account or to cash when in need of cash.

Mr.suevie

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Quote from: Fundamentals Of on October 01, 2023, 05:53:57 AM

Some governments and those who are getting most of the benefits of the status quo, who are threatened by the rise of Bitcoin, are looking for ways to discredit Bitcoin in some ways not because they're afraid that if they ban Bitcoin the masses will rise up against them, but because they cannot ban Bitcoin. That's the real reason. They're not afraid of the backlash of banning Bitcoin. Theirs is the money. Theirs is the power. Their real problem actually is that they cannot ban Bitcoin. Whatever they do or whatever policy they implement, they know that they cannot prevent Bitcoin from growing or their people from acquiring Bitcoin.

I think they can ban Bitcoin orally but practically alot of users will still be finding was to actually use it but the use will be limited because if target is on places and stores where you cant make use of your Bitcoin then it becomes very hard and strick for Bitcoin users to actually use their coins because watvh official will be on the lookout for its use and the government can just give an order to arrest anyone who uses it

Topic: Bitcoin vs the government - page 5. (Read 1124 times)