Cryptocurrencies are not linked to the policies or the economy of any country.

BIT-BENDER

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Quote from: Ebede on May 19, 2021, 11:16:04 AM

From my research, the strength of the cryptocurrencies lies on the mining power of the people. An economic stability and/or crisis of any nation doesn't determine the strength and the weakness of the cryptocurrencies. This is a great factor of important hence no country, no matter how strong can monopolize or manipulate cryptocurrencies, therefore it is a benefit to developing countries as mine whose currency is always at the mercy of dollars and Euros . With the emergence of cryptocurrency, economic stability can be attained by less economically developed countries.
In the other hand, economically strong countries cannot aswell hijack cryptocurrencies. So, cryptocurrency is a currency for all.

Although it hasn't been seen as an alternative, level ranker for those countries, some of them even backlashes crypto-currency with Ban, also the way crypto-currency is used also, there are not many ways to use crypto-currency straight out without have to reform it into Fiat.

Crypto-currency can be free from any government but when countries can put a ban to it then it isn't as free as it should, I think the acceptance of crypto-currency should not be for the citizens Alone, there won't be a country if the government and citizens are at dispute, I think the government can accept crypto-currency, and then initiate more crypto-currency, atmosphere.

livingfree

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Quote from: AmoreJaz on May 19, 2021, 06:45:50 PM

Quote from: livingfree on May 19, 2021, 06:36:18 PM

They cannot link their governments and power to cryptocurrencies, they cannot even crack it down. But for the people in such countries, it helps a lot.

The example of it is in Nigeria. Despite the government's attitude towards cryptocurrency, it's helping its people to have a good source of income and that all sums up to contribute into their economy.

it is more of like crypto is an independent entity, whether you are in the remote part of the world or not, you are free to join this market, however you want it to be. and nigeria, is a very good example. based on statista , nigeria was the top 3 in terms of bitcoin trading volume in online exchanges last year. which really is saying something about their bitcoin adoption in that country, even if we say, their government is not too friendly towards bitcoin. i really do hope it is helping some of their people in uplifting their living standards.

Yes.

Everyone is free to join the crypto community and have their own investments in any cryptocurrency that they prefer. That was really a good stats from Nigeria although they're trying to stop it by making rules that will really hit their crypto people.

But it won't stop just because of it.

AmoreJaz

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Quote from: livingfree on May 19, 2021, 06:36:18 PM

They cannot link their governments and power to cryptocurrencies, they cannot even crack it down. But for the people in such countries, it helps a lot.

The example of it is in Nigeria. Despite the government's attitude towards cryptocurrency, it's helping its people to have a good source of income and that all sums up to contribute into their economy.

it is more of like crypto is an independent entity, whether you are in the remote part of the world or not, you are free to join this market, however you want it to be. and nigeria, is a very good example. based on statista , nigeria was the top 3 in terms of bitcoin trading volume in online exchanges last year. which really is saying something about their bitcoin adoption in that country, even if we say, their government is not too friendly towards bitcoin. i really do hope it is helping some of their people in uplifting their living standards.

livingfree

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They cannot link their governments and power to cryptocurrencies, they cannot even crack it down. But for the people in such countries, it helps a lot.

The example of it is in Nigeria. Despite the government's attitude towards cryptocurrency, it's helping its people to have a good source of income and that all sums up to contribute into their economy.

bitmover

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Quote from: BrewMaster on May 19, 2021, 01:50:06 PM

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In the other hand, economically strong countries cannot aswell hijack cryptocurrencies. So, cryptocurrency is a currency for all.

this is again the same arguments about the level of centralization that the said cryptocurrency has. the more centralized they are the easier it would be to control them.

And this is why governments will be spreading lies against bitcoin, the only cryptocurrency which cannot be controlled.

I am worried that in future Ethereum will become the green cryptocurrency, which all governments and companies like. Ethereum will be POS soon.

Pos is easier to be controlled than a pow coin. Corporations, countries can buy billions of eth . They can also be very cohesive in ethereum founders which hold a lot of eth, such as vitalik, to control the nerwork.

The same is not true about btc which is much harder to control

adzino

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Quote from: Ebede on May 19, 2021, 11:16:04 AM

From my research, the strength of the cryptocurrencies lies on the mining power of the people. An economic stability and/or crisis of any nation doesn't determine the strength and the weakness of the cryptocurrencies. This is a great factor of important hence no country, no matter how strong can monopolize or manipulate cryptocurrencies, therefore it is a benefit to developing countries as mine whose currency is always at the mercy of dollars and Euros . With the emergence of cryptocurrency, economic stability can be attained by less economically developed countries.
In the other hand, economically strong countries cannot aswell hijack cryptocurrencies. So, cryptocurrency is a currency for all.

What if the "mining power of the people" are restricted through policies made by the government? It is going to affect the strength of the crypto currencies. And yes, it does depend on countries. If leading countries of the word starts to ban or impose restrictions on crypto currencies, other countries will follow and this will in turn affect the development of crypto currencies.

Quote from: Ebede on May 19, 2021, 11:16:04 AM

With the emergence of cryptocurrency, economic stability can be attained by less economically developed countries.

Care to explain how?

BrewMaster

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Quote from: Ebede on May 19, 2021, 11:16:04 AM

From my research, the strength of the cryptocurrencies lies on the mining power of the people.

it is actually the other way around. the mining power lies in the power and strength of the cryptocurrency.
for example a shitcoin with no strength will also have weak mining. if you increase its mining power it will never increase the strength of that cryptocurrency.

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An economic stability and/or crisis of any nation doesn't determine the strength and the weakness of the cryptocurrencies.

i agree with this but the economic instability will definitely affect cryptocurrencies.

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This is a great factor of important hence no country, no matter how strong can monopolize or manipulate cryptocurrencies,

monopolize and manipulate are two entirely different topics. also you can't talk about all cryptocurrencies at once.
as for manipulation, even individuals with enough power can manipulate anything even the biggest cryptocurrency. as it is evident from bitcoin.
but to monopolize a cryptocurrency you first have to centralize it. for example look at the centralized altcoins like XRP. the monopoly is very evident. there are other centralized coins that are not so obvious like ETH.

Quote

In the other hand, economically strong countries cannot aswell hijack cryptocurrencies. So, cryptocurrency is a currency for all.

this is again the same arguments about the level of centralization that the said cryptocurrency has. the more centralized they are the easier it would be to control them.

Ucy

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Ofcourse. Not the kind cryptocurrency "Mining power" that requires people to have lots of "gold" to mine gold or mine more gold... like PoS.
Mining just with your computer or mining hardware should be enough. If you could somehow have mining pools that encourage participants to mine with any kind of device, you will probably need to focus their cpu on solving other problems on the Bitcoin Network to earn rewards when mining difficult is high, and automatically/occasionally switch others back to mining Bitcoin together when mining difficult suddenly collapse, probably due to mining censorship in other countries. Proper Mining decentralization should be encouraged by all means to protect from mining censorship and other attacks.
Your device is enough to give you the power esp to encourage real network decentralization

Ebede

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From my research, the strength of the cryptocurrencies lies on the mining power of the people. An economic stability and/or crisis of any nation doesn't determine the strength and the weakness of the cryptocurrencies. This is a great factor of important hence no country, no matter how strong can monopolize or manipulate cryptocurrencies, therefore it is a benefit to developing countries as mine whose currency is always at the mercy of dollars and Euros . With the emergence of cryptocurrency, economic stability can be attained by less economically developed countries.
In the other hand, economically strong countries cannot aswell hijack cryptocurrencies. So, cryptocurrency is a currency for all.

Topic: Cryptocurrencies are not linked to the policies or the economy of any country. (Read 106 times)