Government policies help to grow the price of bitcoin

mksundip

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Quote from: bekti3 on April 19, 2021, 12:53:41 PM

for me Bitcoin without any interpretation from the government already knows that it will provide the best potential of all time. because basically Bitcoin cannot rely on one particular institution. and the recent fact that all of those who decided to support bitcoin were due to bitcoin users having the most favorable place among economists. theoretically this is more appropriate because it is based on external factors.

this is real right now because before bitcoin was famous as it is today and before the whole world started hype with bitcoin, the price of bitcoin had gone through an upward phase. even when the price of bitcoin is high governments around the world have started to seriously look at the development of bitcoin. There are pros and cons to bitcoin.
From this case it can be concluded that if the government actually can't influence anything about bitcoin, pure bitcoin develops and runs according to the market.

xSkylarx

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Quote from: zanezane on September 18, 2021, 09:53:30 AM

Not all of them are helpful in growing the price of bitcoin, remember that some of them are regulations that can cause the people to be scared and might sell their bitcoin prematurely to evade some of the clauses in the regulation before they are enforced.

I believe that this is simply a ban on bitcoin, but on the plus side, there are a few countries that have legalized bitcoin and others that are planning to do so in the near future. Now that is really good for the price because they will buy bitcoin, though we don't know what their regulations are because I am from a country where bitcoin is still illegal nor legal.

zanezane

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Not all of them are helpful in growing the price of bitcoin, remember that some of them are regulations that can cause the people to be scared and might sell their bitcoin prematurely to evade some of the clauses in the regulation before they are enforced.

Webetcoins

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Quote from: ampu on September 08, 2021, 08:35:19 AM

I don't expect much, as long as they don't ban their people from trading, mining and hoarding Bitcoin. I remember how China suppressed Bitcoin. It leaves bad short-term consequences for the market. If countries have a loosening policy with cryptocurrencies, this is certainly an opportunity for the cryptocurrency market to expand and expand its capitalization to compete with financial markets such as stocks and commodities.

Definitely there are many wrong policies and ways which are helping bitcoin and crypto to grow and develop in good ways because they are working to ban or restrict, and It's bring some new technology governments have to shame for their role in safeguard their own corrupt interest.

In this all still there are many countries those are interested to use bitcoin and bringing some soft and better legislation for their peoples. But overall we are facing some serious threats as well because recently in many countries they are controlling banking system and other financial institutions for checking bitcoin related business for punishment.

Newlifebtc

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Quote from: iamsheikhadil on April 19, 2021, 10:23:13 PM

Governments have no shame to do everything to safeguard their own corrupt interests, even at the expense of their own citizens and their rights or benefits Grin

but, human history has a big golden period of fighting against such oppressions and I am very optimistic that we will come out of these type of anti-crypto laws as well and shine!

Government is the problem of this coins currently, they have an interior plans to make cryptocurrency to die off, and we know this will not exist even though they tried to plan for their own it can't be like cryptocurrency because government coin can be regulate by the section or sub Branch of government arms.

Cindella

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Government policies will only make more people aware of bitcoin, and not all national policies can be conducive to the rise of bitcoin prices.
Some countries have a positive attitude towards bitcoin. They accept the use of bitcoin and even legalize it, which is conducive to the increase in the value of bitcoin.
Some countries have been opposed to bitcoin. They will formulate policies to combat bitcoin and prohibit the use of it. This has a negative impact on bitcoin. It is not conducive to the widespread popularity and development of bitcoin in the country.

SquallLeonhart

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Quote from: jaysabi on August 08, 2021, 12:54:52 AM

Quote from: roosbit on August 06, 2021, 06:08:17 AM

Both good and bad reforms will help bitcoin price to grow regardless of what they do. In a scenario were the government chooses to ban it, this just promotes people to be innovative enough to create a network where they will sell for much higher prices than its market price making the price of btc in that country high.

For countries that have made crypto welcome because of good government policies it's not a matter of inflated or exgaratted pricing, but demand that will influence price to go up.

It didn't happen in China when they banned bitcoin. People rushed to get out of bitcoin so fast that the price dropped from $60k to $30k in a very short amount of time. Banning bitcoin will not lead to a higher price because it greatly reduces demand for bitcoin as people start complying with the law.

That had a short term impact but we have moved above 52k just recently. We may have dropped down a bit now again, but we always recover, so there could be some stuff that seem like it drops the price but in the long run it doesn't really drop the price as much as you imagine, it just corrects the price. Plus the reason why china had such a big impact was the fact that we were already way too high, if it was 10k then the drop wouldn't be too much, but since it was 60k then the price started to go down like a crashing matter.

Nobody cared when we were at 10k and dropped to 5k or 6k because that happened frequently and that is 40-50% drop as well, but when you drop from 60k to 30k everyone got scared, it is the same amount in percentage but it is 30k drop. Do not be worried ALL regulations have benefits, this one allows us to have less miner control over bitcoin as well.

ampu

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I don't expect much, as long as they don't ban their people from trading, mining and hoarding Bitcoin. I remember how China suppressed Bitcoin. It leaves bad short-term consequences for the market. If countries have a loosening policy with cryptocurrencies, this is certainly an opportunity for the cryptocurrency market to expand and expand its capitalization to compete with financial markets such as stocks and commodities.

MKings

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Government support for Bitcoin can indeed help Bitcoin.
Let more people know about Bitcoin.
It is also helpful to increase the price of Bitcoin.
However, it seems that it will take some time for governments around the world to support Bitcoin.
There are also countries that have not recognized Bitcoin since the beginning.

jaysabi

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Quote from: roosbit on August 06, 2021, 06:08:17 AM

Both good and bad reforms will help bitcoin price to grow regardless of what they do. In a scenario were the government chooses to ban it, this just promotes people to be innovative enough to create a network where they will sell for much higher prices than its market price making the price of btc in that country high.

For countries that have made crypto welcome because of good government policies it's not a matter of inflated or exgaratted pricing, but demand that will influence price to go up.

It didn't happen in China when they banned bitcoin. People rushed to get out of bitcoin so fast that the price dropped from $60k to $30k in a very short amount of time. Banning bitcoin will not lead to a higher price because it greatly reduces demand for bitcoin as people start complying with the law.

awik p

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Quote from: Obito on August 06, 2021, 05:19:20 AM

Quote from: JillianTaft on August 04, 2021, 05:25:59 AM

Not every country is on the side of support. Of course, countries that support Bitcoin will have a beneficial impact on Bitcoin, and government intervention will more or less bring growth or decline to the crypto market. But I think that in the future, the government may hold objections in the majority.

I think no matter which side that a country is on, it's going to be beneficial for them, it's just a matter of perspective, think about it, if they don't support it, they can control the population much easier since they don't exactly have the freedom to get out of being oppressed.

but I think if the government gives a good policy on bitcoin, of course it will make people have to obey it, and of course it will have little or much effect on bitcoin. We can see that when China banned bitcoin mining, and people obeyed it, the bitcoin price went down again. and we can imagine otherwise if many countries support bitcoin, then people will move to use bitcoin

icopress

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I saw the notice and the name of this thread and remembered that after the Chinese ban, Ukraine became quite attractive for mining with its fixed electricity price. I have not gone into details of the cost of energy in other countries, but the price of 0.06 cents/k-watt seems to me quite attractive.

And given the fact that the government and the leaders of the energy sector are quite corrupt, (in the sense that if you are with money you have a place to maneuver) ... I would not be surprised if Ukraine becomes one of the top three in the near future ^{[So, I also decided to think about becoming a miner]}

roosbit

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Both good and bad reforms will help bitcoin price to grow regardless of what they do. In a scenario were the government chooses to ban it, this just promotes people to be innovative enough to create a network where they will sell for much higher prices than its market price making the price of btc in that country high.

For countries that have made crypto welcome because of good government policies it's not a matter of inflated or exgaratted pricing, but demand that will influence price to go up.

Obito

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Quote from: JillianTaft on August 04, 2021, 05:25:59 AM

Not every country is on the side of support. Of course, countries that support Bitcoin will have a beneficial impact on Bitcoin, and government intervention will more or less bring growth or decline to the crypto market. But I think that in the future, the government may hold objections in the majority.

I think no matter which side that a country is on, it's going to be beneficial for them, it's just a matter of perspective, think about it, if they don't support it, they can control the population much easier since they don't exactly have the freedom to get out of being oppressed.

dataispower

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The government is scared of cryptocurrencies because they can't control the technology behind the movement of funds. The best they can do is regulating the body of the network by imposing strict rules on registered exchanges. Reason theew are introduction of KYCs to check the activities carried out on your accounts. A country has positive or negative effect on the existence of cryptocurrencies banning it and adopting it are some of the examples of such.

Pokapoka124

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Yes more positive government policies like El salvador accepting bitcoin as a legal tender can help to grow the price of bitcoin as it will promote mass adoption of bitcoin. Negative policies like China bans Bitcoin mining can do the exact opposite, we expect a dump. Typically, every good trader pay attention to the news to see where the market is shifting to. For the record I believe there are more negative government policies against Bitcoin

JillianTaft

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Not every country is on the side of support. Of course, countries that support Bitcoin will have a beneficial impact on Bitcoin, and government intervention will more or less bring growth or decline to the crypto market. But I think that in the future, the government may hold objections in the majority.

Kiley33

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Government policies can indeed affect Bitcoin, but if all governments accept Bitcoin, it is now unrealistic. Many countries have banned Bitcoin (this will not kill Bitcoin).
The survival of Bitcoin does not depend on the government or the country. If other companies indicate the use of Bitcoin or prohibit the use of Bitcoin, this will have no effect on Bitcoin.
Bitcoin will become more and more popular. It will become more and more valuable.

Dax Robinson

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The government's policies will definitely have a boosting effect. Investors and cryptocurrency enthusiasts in the market will have emotions because of some good news or policies. These are all factors that drive prices. With the government's policy support, they will encourage people to have the idea of joining cryptocurrency.
Although not every government supports Bitcoin, with the development of Bitcoin, more and more people are familiar with encryption and enter the market. The future can be expected.

ROSERTY

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The government's decision will have a great impact on the price of Bitcoin.
Some areas will prohibit the use of Bitcoin because the system used by Bitcoin is the opposite of the system used by the government, and the government does not want to lose control, but also to limit black money and track illegal financial activities such as money laundering or tax evasion.
If the government strongly supports Bitcoin, the people in the country will surely believe in the new things in the system, the more investors are interested in it, and people's demand for it will increase, which will push the price of Bitcoin to rise.

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