Topic: Government Controls Crypto? - page 4. (Read 895 times)

When you say the government can shut down companies or networks, yes that is possible to an extent, but it is not fully possible. The government can only shut down the companies that they regulate, you can use countries that banned bitcoin as an example, let’s look at Nigeria when they banned bitcoin and stopped all the companies there such Binance, Luno and the rest of them, they did all that but did it stop people from trading cryptocurrency? The answer is a NO. People still continued to trade cryptocurrency because they are now making use of P2P and they now happened to beat India as the second largest P2P traders.

So, that shows you that the government can’t stop cryptocurrency, the only thing they stop is companies that are regulated by them, but decentralized exchanges can’t be stopped.

governments in every country are different, because they apply different rules. maybe only in your country that applies such rules, not all governments in a country fully control crypto, they usually only give rules about crypto to their people who use crypto for a better purpose

Bitcoin is a digital currency, a decentralized system that records transactions in a distributed ledger called a blockchain. So basically, the government has no full authority over cryptocurrency since blockchain serves as the bridge for transactions in the digital setup. Yes, the government could takedown companies but it wont be enough to shut down the entire network. Besides, it has been widely used in different countries so the only thing they could do is to set up restrictions and limitations for people who're involved in crypto

The government cannot control crypto it is completely out of the control of the government. That is why the governments of many countries have imposed many restrictions on it which did not give it legitimacy there is no one to control cryptocurrency in the same way that a common currency is controlled by a central bank bitcoin anyone using decentralized Internet can create cryptocurrencies. It can also transact the authorities consider it dangerous because there is no control the currency cannot be seen in reality it only exists online.

USA is not even in the game.

Hong-Kong & Thailand ( 2019 ) have already signed off CBDC, cross border digital currency; China has already released theirs. China has already essentially removed 'cash' from day to day transactions one by the public.  Even Africa some 10+ years ago, most transactions were done using mobile-phone 'credit'. Everybody from Asia-2-Africa now has a smart-phone, as they cost about $3.

USA is a one trick pony, and they're tied to the FIAT aka US-Dollar, and will go down defending it.

Will the USA ban, or criminalize BTC to USA citizens living in the former penal colony called USA?? Hell yes, or make it so hard to use that its painful? Yes, but so what look at USA today SF has feces in the streets, Portland is a sewer as well, none of these problems exist in ASIA, even India now looks cleaner than most USA citys.

So all of Asia will start doing all trade in CBDC's, and fairly soon the USD will not even be in the equation. Russia, China, & Iran are pushing the hardest to de-dollarize the world.

BTC if it survives can&will be a store of value, but with 21M btc clones all saying their the one, this show is not unlike the matrix.

All the USA has to do is tell the banks to quit funding the exchanges, and overnight the exchanges have no fiat. But the USA solution is to always have a crisis, and then a solution, so most likely say China pulls the plug on the BTC-miners ( +60% ) of world 'mining', BTC transactions come to a halt, and fee's go to $100 to transfer $1. Even in the USA they could pull the plug on mining, utilities know who the users are, all meters are now tracked from home office. They could just set a tariff schedule say 100X for miners cost of electricity, to fund green. Lot's of things could bring BTC to its knees.

In all of Asia, most of the people are in sync, if the GOV says "Do this", everybody does that for the good of the collective; If the Asian Gov's say use CBDC's, the people will use them, just like they now do in China, where alipay has been essentially transferred from Jack Ma to the CCP. This is the model for 90% of the earth, what difference does it make for the USA? Deagle Report says that by 2025 the USA population to be reduced by +80%, most of the people in the USA playing BTC will not even be in the USA by 2025, unless they flee prior.

the government can only make rules related to regulations, there are restrictions and prohibitions, because most governments still consider bitcoin and cryptocurrency in general to be misused for criminal acts. but we all know that bitcoin is completely decentralized, there are still many ways to do "unnoticed" activities. Don't worry too much, the cryptocurrency ecosystem is very broad, small restrictions can't lock up everything, take full advantage of the opportunity and fully understand the rules so you can play "safe"

That's true, but do you believe that government willing to ban the utilization of internet network in the country? I doubt they will do that. Just internet connection that can stop the utilization of bitcoin in the country, more than that there is no way for government or anyone which can be able to manage and make bitcoin become sentralized.

As for an exchange that can be used as a place to buy and sell bitcoin, I guess there will be new way popping up when the country ban the exchange from their territory. Like you can sell your bitcoin to me directly without party, this thing has been done by most people since most of crypto exchange obliged all their user to give the personal identity which makes investors reluctant to give it away.

Yes, for decentralization system, government can't able to control bitcoin. A user is free to use bitcoin as own way. But for betterment of economical condition, some government are not adopting bitcoin still now.

It is true about crypto being decentralized. It's the main reason why government have been at a disadvantage since trying to put an end for it for many years now. Their plans just keeps on failing. Their ability to stop crypto usage around a geographical location is bad too because you would be at the losing end if there's no clear option available on how you can convert some if not all of your coins to maybe fiat. This is why crypto users in US have difficulty accessing crypto services like the rest of us.

They can only regulate those exchange that caters crypto to fiat transactions, but the entire crypto market is far from their hands.

Most government already tried to take control of this industry but until now they are not succeeding, some do banning this from thier country but with the access of the internet there are lots of ways to continue.

Good thing now, there are already places in the world where crypto are already been embraced and no
longer being treated as bad investment/ponzi types of business.

Governments can't shut down bitcoin because the network is decentralized meaning any banning of nodes is undermined by the large miner adoption rate.

how do you keep it all straight?

Crypto BITCOIN is 100% owned by the GOV, so they ask does GOV own Crypto? Perhaps they should ask who owns the GOV?

Let's see NSA created sha256 and secp256k1 which is 90% of bitcoin, the blockchain ( linked-list ) had been around 50+ years.

Coinbase is the arm of the IRS

You can't open an exchange without KYC GOV approval, the exchange is ingress/egress of all crypto, the only way to have privacy is to solo-mine, and HODL with no intention of ever selling or perhaps going back to the old-school of selling btc at the public parks for cash.

Everything about BTC is GOV

All the story's about BTC I should say promises have turned out to be lies, cheap, fast, anonymous

The only thing certain about btc is that it has becomes a fools lotto where the same people who would normally bet pocket money are now trading cryptos online, where the fee's and transaction costs eat up any profit, even if you correctly predict a 50% gain, the house takes a 50% cut when you add in fiat conversion, and fee's on all sides of the transactions, the only people making real money are those who own the exchanges, which goes back to #1 coinbase, a front for the IRS.

LOTTO is a tax on stupid people, cryptos are a tax on fools. Sure if you were an early miner, and held you made some easy money, but how many well sell before the ponzi flushes out? I suspect that most will lose,

Most likely like today loss blamed on GOV fraud investigation, one day all the exchanges will say "Sorry, all your profits have evaporated", what difference would it make to HODL, what's the real price at a public park for cash? Once all the infrastructure is pulled because its no longer profitable, what will price-discovery be? Just fools trying to hookup with greater fools.

We even know why the IMF released the original white paper in 1997, way before Satoshi's paper, the IMF was clear about diverting excess money away from Gold, and 2021 shows they have succeeded.

The only wild-card about bitcoin, is that the Chinese came to be the owners of 'mining' and ergo given that they control 67%, which is way over 51% consensus then China ended up controlling bitcoin, even though the US gov created it, IMHO I think this was the plan, sort of a trojan horse, China adopts NSA-CIA funny money, USA holds the back-door keys.

So now we move towards a one world-gov post COVID, and everything that Rockefeller hoped  for in the early 1990's has came true.

GOV controls Crypto? Does anybody really think that the geek game-boyz in mom's basement controls crypto?

I Think, Government cannot control cryptocurrency. It's totally decentralize Cryptocurrency. They can't stop crypto buying and selling.So government can one thing, they can ban only his County. So,Government can't control bitcoin.

I don't think so.  It will not be easy for the government to control it.  If the government controlled it, it might not have come to the market.  crypto always maintain privacy

Government has no single authority over bitcoin and they can't stop people for buying and selling bitcoin. If government is difficult to stop illegal drugs, how about a decentralized digital currency which is done online through internet? Of course, it's more difficult than to hunt a drug user/seller. As long as there is electricity and internet connection, government has nothing to do to stop, ban, or control the bitcoin.

It is anger, jealousy, and greediness that makes the government thinking about bad into crypto.
That actually they can control and stop those companies, cancel their business permit and etc...Perhaps, that is the only thing they can do, but they can totally stop the spread of Bitcoin on the internet.

The more they are hated crypto, the more it spreads globally. People will find another way to continue their doing and even they seize those machines (ATM, mining machine) they are still be doing it.

There are so many ways to access it if they doesn't allow their users to user  bitcoin on their state. But I never imagine that will happem simce imagine how big the potential of it and its a bad move for government if they stop it, many protest will come since bitcoin is changing the people's lives for just holding it.

The government doesn’t control cryptocurrency. Even they want to control and regulate it. No institution controls Cryptocurrency. But any institution or government or even high-profile personality can manipulate cryptocurrency prices. That is why trading cryptocurrency is very risky due to its volatility in nature. But despite that, We love that the system or blockchain itself is decentralized. That is why I trust the technology behind crypto.

There are a couple of ways in which government intervention can influence the price of cryptocurrencies. First, governments can regulate the price of assets, such as fiat currencies, through buying and selling actions in international markets. Second, they can tamp down excessive enthusiasm for an asset class by saddling it with regulations that increase the cost of doing business. An example of this approach is bitcoin regulation being considered across various states in the United States.

Most states require surety bonds or an equivalent amount in fiat currency for cryptocurrency exchanges within their jurisdictions. Finally, governments can also make the asset scarce by imposing controls on it. An example of this is the case of gold, which has import restrictions in several countries.