Government policies help to grow the price of bitcoin - page 3.

Shasha80

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Quote from: blckhawk on May 02, 2021, 06:24:20 AM

Quote from: Shasha80 on May 01, 2021, 08:40:05 PM

Quote from: CaVO32 on May 01, 2021, 06:29:52 PM

Quote from: sana54210 on May 01, 2021, 03:06:12 PM

Quote from: Xinarae* on May 01, 2021, 10:14:42 AM

~

In fact, since the beginning the government has always opposed the presence of Bitcoin, even the government is trying to kill Bitcoin,
so as not to endanger fiat. The government does it all because they are frustrated that they cannot control Bitcoin, therefore some countries
choose to reject Bitcoin, by deeming Bitcoin illegal. But there have been many attempts by the government to make Bitcoin look bad and hope
Bitcoin dies, but unfortunately Bitcoin has survived until now. Even the price of Bitcoin is getting more expensive and the demand is getting higher.
So finally some countries started realizing that it was impossible to beat Bitcoin, eventually some countries started accepting Bitcoin with
certain limits, for example only accepting Bitcoin as a digital asset. But this has been very good progress, I even believe that in the future
all countries will accept Bitcoin.

Yeah, Bitcoin will be fully accepted across the world, some countries might not ready to accept Bitcoin but eventually, their mind will change as every country accept it, to put it simply it is just a matter of time they could impose some regulations, of course, like imposing a tax or something. They hate crypto because they cannot able to control but I do believe that some of them even use it for their personal gains cause we know how much really it can provide. Besides even if they impose a ban on it there will be still some ways to access it that is why crypto adaptation is inevitable.

Maybe it will take several decades for Bitcoin to be accepted by all countries in the world, because currently there are still many countries that
are not ready to accept Bitcoin. And I agree with you, some government officials must be secretly investing in Bitcoin for personal gain.
Because surely these government officials know the potential profit that Bitcoin can generate is enormous. But they do it secretly, this is one of
the advantages of Bitcoin, we don't need to give our identity to buy Bitcoin.

dimonstration

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Dimon69

Quote from: Silberman on May 03, 2021, 12:45:53 PM

Quote from: andriarto on May 01, 2021, 03:42:47 AM

I think the main factor of the government that helps the development of bitcoin is that currently it is not so badly prohibited from using it, even though it is not a means of payment. at least bitcoin is in the market, which is parallel to stocks, even many investors leave stocks to switch to crypto currency

That is a factor however if we begin to think about this and we imagine the opposite scenario, what would happened if they actually made bitcoin illegal? Will this stop people from using it? I doubt it, the price will go down for sure and many people will lose money and get scared but bitcoin as a concept will still be alive and well and if anything it will become more of a currency as people will use it to exchange products and services instead of being an asset which people trade which is its more popular use today.

This happens before wher many countries banned Crypto in it's earlier days. The price keeps dropping whenever there are countries who said to ban the use of crypto like exchanges as well it's implementation. But later on when Singapore, Japan and other developed countries uses crypto in their government banning seems gone and it's okay to use that makes more of adoption. Well government do really helps by not doing anything on it like stopping the banning and just letting their people use it as well by authorising some organisations to conduct crypto related work.

Silberman

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Quote from: andriarto on May 01, 2021, 03:42:47 AM

I think the main factor of the government that helps the development of bitcoin is that currently it is not so badly prohibited from using it, even though it is not a means of payment. at least bitcoin is in the market, which is parallel to stocks, even many investors leave stocks to switch to crypto currency

That is a factor however if we begin to think about this and we imagine the opposite scenario, what would happened if they actually made bitcoin illegal? Will this stop people from using it? I doubt it, the price will go down for sure and many people will lose money and get scared but bitcoin as a concept will still be alive and well and if anything it will become more of a currency as people will use it to exchange products and services instead of being an asset which people trade which is its more popular use today.

blckhawk

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Quote from: Shasha80 on May 01, 2021, 08:40:05 PM

Quote from: CaVO32 on May 01, 2021, 06:29:52 PM

Quote from: sana54210 on May 01, 2021, 03:06:12 PM

Quote from: Xinarae* on May 01, 2021, 10:14:42 AM

~

If the governments want to increase the price of bitcoin, they can do it in just one single day. What they have to do, get the president of that nation, it would be better if it is a big nation like USA or UK or anything like that, let them say "bitcoin and blockchain are a wonderful technology, we as a government will try to implement that as much as possible into government branches" or anything else that is as positive as that, start with allowing people to pay taxes in crypto. That's it, you need nothing else, if you do this, if Biden for example or Boris comes out and says this, that's it, that's done, we are talking about basically bitcoin doubling in a week if that happened.

If they say they are planning on putting some bitcoin into national reserves? That's like dream come true for all of us, we will go over 200k+ very easily if that was done.

I don't think we will see that kind of approach very soon. Most governments want full control of their financial aspect of things. With bitcoin or other cryptocurrency, it would be hard for them to have full control. This is the reason why many governments are banning or not legalizing the use of bitcoin, because they don't have the full control of it. Some will just make a reason that it may be used for fraudulent activities, but so with fiat currency. But the difference with fiat, is that they have the full control of its circulation. Whereas, with bitcoin, they will not have the full control of it, but they can regulate the use of it.

In fact, since the beginning the government has always opposed the presence of Bitcoin, even the government is trying to kill Bitcoin,
so as not to endanger fiat. The government does it all because they are frustrated that they cannot control Bitcoin, therefore some countries
choose to reject Bitcoin, by deeming Bitcoin illegal. But there have been many attempts by the government to make Bitcoin look bad and hope
Bitcoin dies, but unfortunately Bitcoin has survived until now. Even the price of Bitcoin is getting more expensive and the demand is getting higher.
So finally some countries started realizing that it was impossible to beat Bitcoin, eventually some countries started accepting Bitcoin with
certain limits, for example only accepting Bitcoin as a digital asset. But this has been very good progress, I even believe that in the future
all countries will accept Bitcoin.

Yeah, Bitcoin will be fully accepted across the world, some countries might not ready to accept Bitcoin but eventually, their mind will change as every country accept it, to put it simply it is just a matter of time they could impose some regulations, of course, like imposing a tax or something. They hate crypto because they cannot able to control but I do believe that some of them even use it for their personal gains cause we know how much really it can provide. Besides even if they impose a ban on it there will be still some ways to access it that is why crypto adaptation is inevitable.

Golftech

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Quote from: dimox on May 02, 2021, 05:10:33 AM

boost in some country, not all country. some of them just take money from like tax for crypto user. they admit how strong bitcoin, but no action for future. and im not sure if they can make bigger it price from that 'policy'.
some party will try to erase this stuff because they can make them shake. but, as time go by, this party will follow this flow, not for increasing the quality, but just for personal gain.

More om personal gais and not for boosing the entire ecosystem. If only they really care about the system

and not just for the taxes that they'll get after some implementations of any rules that they'll think that

benefits them. But logically right, once government shows interest then there are many factors that may

affects the value of Bitcoin, wait and hope for the betterment.

dimox

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boost in some country, not all country. some of them just take money from like tax for crypto user. they admit how strong bitcoin, but no action for future. and im not sure if they can make bigger it price from that 'policy'.
some party will try to erase this stuff because they can make them shake. but, as time go by, this party will follow this flow, not for increasing the quality, but just for personal gain.

Shasha80

sr. member

Activity: 1876

Merit: 318

Quote from: CaVO32 on May 01, 2021, 06:29:52 PM

Quote from: sana54210 on May 01, 2021, 03:06:12 PM

Quote from: Xinarae* on May 01, 2021, 10:14:42 AM

~

If the governments want to increase the price of bitcoin, they can do it in just one single day. What they have to do, get the president of that nation, it would be better if it is a big nation like USA or UK or anything like that, let them say "bitcoin and blockchain are a wonderful technology, we as a government will try to implement that as much as possible into government branches" or anything else that is as positive as that, start with allowing people to pay taxes in crypto. That's it, you need nothing else, if you do this, if Biden for example or Boris comes out and says this, that's it, that's done, we are talking about basically bitcoin doubling in a week if that happened.

If they say they are planning on putting some bitcoin into national reserves? That's like dream come true for all of us, we will go over 200k+ very easily if that was done.

I don't think we will see that kind of approach very soon. Most governments want full control of their financial aspect of things. With bitcoin or other cryptocurrency, it would be hard for them to have full control. This is the reason why many governments are banning or not legalizing the use of bitcoin, because they don't have the full control of it. Some will just make a reason that it may be used for fraudulent activities, but so with fiat currency. But the difference with fiat, is that they have the full control of its circulation. Whereas, with bitcoin, they will not have the full control of it, but they can regulate the use of it.

In fact, since the beginning the government has always opposed the presence of Bitcoin, even the government is trying to kill Bitcoin,
so as not to endanger fiat. The government does it all because they are frustrated that they cannot control Bitcoin, therefore some countries
choose to reject Bitcoin, by deeming Bitcoin illegal. But there have been many attempts by the government to make Bitcoin look bad and hope
Bitcoin dies, but unfortunately Bitcoin has survived until now. Even the price of Bitcoin is getting more expensive and the demand is getting higher.
So finally some countries started realizing that it was impossible to beat Bitcoin, eventually some countries started accepting Bitcoin with
certain limits, for example only accepting Bitcoin as a digital asset. But this has been very good progress, I even believe that in the future
all countries will accept Bitcoin.

CaVO32

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Activity: 1848

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Quote from: sana54210 on May 01, 2021, 03:06:12 PM

Quote from: Xinarae* on May 01, 2021, 10:14:42 AM

If government policies help raise the price of bitcoin it will have no effect on bitcoin. The government cannot control this currency although many countries have banned this currency they are supporting crypto because of the high price of bitcoin investment will become profitable for economic development currently it is pushing up the price of bitcoin even more in some countries there is no law on bitcoin, while in many countries bitcoin transactions are legal. But economists and other stakeholders around the world are risky to invest in cryptocurrencies as their value increases and commas change rapidly.

If the governments want to increase the price of bitcoin, they can do it in just one single day. What they have to do, get the president of that nation, it would be better if it is a big nation like USA or UK or anything like that, let them say "bitcoin and blockchain are a wonderful technology, we as a government will try to implement that as much as possible into government branches" or anything else that is as positive as that, start with allowing people to pay taxes in crypto. That's it, you need nothing else, if you do this, if Biden for example or Boris comes out and says this, that's it, that's done, we are talking about basically bitcoin doubling in a week if that happened.

If they say they are planning on putting some bitcoin into national reserves? That's like dream come true for all of us, we will go over 200k+ very easily if that was done.

I don't think we will see that kind of approach very soon. Most governments want full control of their financial aspect of things. With bitcoin or other cryptocurrency, it would be hard for them to have full control. This is the reason why many governments are banning or not legalizing the use of bitcoin, because they don't have the full control of it. Some will just make a reason that it may be used for fraudulent activities, but so with fiat currency. But the difference with fiat, is that they have the full control of its circulation. Whereas, with bitcoin, they will not have the full control of it, but they can regulate the use of it.

sana54210

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Quote from: Xinarae* on May 01, 2021, 10:14:42 AM

If government policies help raise the price of bitcoin it will have no effect on bitcoin. The government cannot control this currency although many countries have banned this currency they are supporting crypto because of the high price of bitcoin investment will become profitable for economic development currently it is pushing up the price of bitcoin even more in some countries there is no law on bitcoin, while in many countries bitcoin transactions are legal. But economists and other stakeholders around the world are risky to invest in cryptocurrencies as their value increases and commas change rapidly.

If the governments want to increase the price of bitcoin, they can do it in just one single day. What they have to do, get the president of that nation, it would be better if it is a big nation like USA or UK or anything like that, let them say "bitcoin and blockchain are a wonderful technology, we as a government will try to implement that as much as possible into government branches" or anything else that is as positive as that, start with allowing people to pay taxes in crypto. That's it, you need nothing else, if you do this, if Biden for example or Boris comes out and says this, that's it, that's done, we are talking about basically bitcoin doubling in a week if that happened.

If they say they are planning on putting some bitcoin into national reserves? That's like dream come true for all of us, we will go over 200k+ very easily if that was done.

Xinarae*

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If government policies help raise the price of bitcoin it will have no effect on bitcoin. The government cannot control this currency although many countries have banned this currency they are supporting crypto because of the high price of bitcoin investment will become profitable for economic development currently it is pushing up the price of bitcoin even more in some countries there is no law on bitcoin, while in many countries bitcoin transactions are legal. But economists and other stakeholders around the world are risky to invest in cryptocurrencies as their value increases and commas change rapidly.

marlo1001

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They may also help to dump btc. We may see on big dudmp if the major countries will make it illigal

andriarto

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Quote from: AndySt on April 30, 2021, 06:26:19 PM

Quote from: Silberman on April 30, 2021, 01:03:03 PM

This shows what they really fear from bitcoin, they are not afraid of bitcoin becoming a valuable asset, they are not scared of bitcoin becoming a store of value and displacing gold as the main form of protecting your wealth, what they are really scared about bitcoin is of bitcoin behaving like a currency and that eventually displaces their own fiat currencies and they lose all the power those fiat currencies confer to them and as such they lose the tight control of the economy they have now.

You can't be afraid of bitcoin as a competitor to your fiat currency in only two cases. First, when your fiat currency is the world's reserve currency and therefore the additional amount of liquidity can not significantly affect the monetary policy of your state. In the second case, you have such a weak and uncontrolled economy that the monetary policy of your state has no influence on economic processes. Therefore, I fully understand the concerns and even prohibitions of many states on the use of bitcoin as a means of payment, and not as a financial or property asset.

I think the main factor of the government that helps the development of bitcoin is that currently it is not so badly prohibited from using it, even though it is not a means of payment. at least bitcoin is in the market, which is parallel to stocks, even many investors leave stocks to switch to crypto currency

Kong Hey Pakboy

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Really depends on the stance of the government towards bitcoin or cryptocurrency as a whole, if they are in favor then the policies are going to be really good for the prices of market but if it was the other way around then it will be a different story because some opposing policies might have adverse effects.

AndySt

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Quote from: Silberman on April 30, 2021, 01:03:03 PM

This shows what they really fear from bitcoin, they are not afraid of bitcoin becoming a valuable asset, they are not scared of bitcoin becoming a store of value and displacing gold as the main form of protecting your wealth, what they are really scared about bitcoin is of bitcoin behaving like a currency and that eventually displaces their own fiat currencies and they lose all the power those fiat currencies confer to them and as such they lose the tight control of the economy they have now.

You can't be afraid of bitcoin as a competitor to your fiat currency in only two cases. First, when your fiat currency is the world's reserve currency and therefore the additional amount of liquidity can not significantly affect the monetary policy of your state. In the second case, you have such a weak and uncontrolled economy that the monetary policy of your state has no influence on economic processes. Therefore, I fully understand the concerns and even prohibitions of many states on the use of bitcoin as a means of payment, and not as a financial or property asset.

hulla

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Quote from: wahyu wida on April 30, 2021, 10:02:32 AM

Quote from: hulla on April 28, 2021, 06:57:06 PM

Bitcoin and some other crypto currency come to stay because the trust the crypto community had in Bitcoin and how selfless Satoshi Nakamoto used when and after creating Bitcoin because the plan of some world leader that are against Bitcoin was to make it died that's why people like Paypal ex CEO compare Bitcoin to his autograph.

The opposition that occurs against bitcoin is because the system used by bitcoin is contrary to the system used by the government, while the government does not want to lose control, therefore it is only natural that some countries oppose it, but time will prove that with the increasingly solid bitcoin community in the world who wants bitcoin to remain on purpose the main thing

Absolutely, the operating system of Bitcoin which is contrary to the government is the reason why most communist and corrupt government don't want to support Bitcoin but the solid growth of the Bitcoin community is not what's changing the mind of some government that was once against Bitcoin.

Quote from: SacriFries11 on April 30, 2021, 10:54:42 AM

Quote from: hulla on April 28, 2021, 06:57:06 PM

Bitcoin and some other crypto currency come to stay because the trust the crypto community had in Bitcoin and how selfless Satoshi Nakamoto used when and after creating Bitcoin because the plan of some world leader that are against Bitcoin was to make it died that's why people like Paypal ex CEO compare Bitcoin to his autograph.

Some government sees the great thing about Bitcoin

To be sincere, all the governments understand and see the great thing in Bitcoin because the IMF boss has told them that digital currency is the answer to the economic meltdown and they were also advised by the IMF boss to consider crypto but they just don't like the decentralization of Bitcoin.

Silberman

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Quote from: skarais on April 27, 2021, 04:38:27 PM

Quote from: Argoo on April 26, 2021, 01:42:03 PM

You can also add that the Turkish government recently banned the use of cryptocurrency as a means of payment. Russia is doing the same and India intends to do the same. So it's not so simple with the circulation of cryptocurrency as money.
Governments are now taking a closer look at Bitcoin and cryptocurrency in general. It is possible that if the cryptocurrency will have an impact on the global financial system in the future, then the governments will unite in order to regulate it more stringently. Some high officials are already calling for this.

Government can regulate cryptocurrency tighter than it currently is but they still can't control it. Its use as a mean of payment is prohibited because they think it is inappropriate and violate applicable regulation, this has hindered the adoption of crypto, especially bitcoin in these countries. The same situation applies in my country, but they never forbid us from trading it because crypto trading activity has been legalized as a regulated commodity asset.

This shows what they really fear from bitcoin, they are not afraid of bitcoin becoming a valuable asset, they are not scared of bitcoin becoming a store of value and displacing gold as the main form of protecting your wealth, what they are really scared about bitcoin is of bitcoin behaving like a currency and that eventually displaces their own fiat currencies and they lose all the power those fiat currencies confer to them and as such they lose the tight control of the economy they have now.

nightxglow

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Quote from: jaysabi on April 27, 2021, 10:34:33 AM

Quote from: sunsilk on April 19, 2021, 01:43:17 PM

Those policies that are against bitcoin are obviously not helping it. Instead of them making easier policies for the adoption to become quicker, they're making it difficult and that's what they think to stop bitcoin's growth.

This very much so. If the US banned bitcoin and made it illegal, do you think that would help the price or tank the price? The obvious answer is it would destroy the price. A high price is predicated on it being easy to obtain and not bringing adverse legal consequences.

Quote from: sunsilk on April 19, 2021, 01:43:17 PM

But regardless of the rules that they create, bitcoin will always catch up the trend and no matter how hard and bad the policies that they make and it's against bitcoin, it will continue to thrive on its market.

Much less convinced about this. If the US makes it illegal, it's going to destroy the price and a lot of interest in it. It won't kill it off entirely, but it's not going to be a robust ecosystem when it has to function in entirely in the dark.

Yes i'm pretty sure that if US is the one who made negative regulation or policy regarding bitcoin, then it will really end bitcoin. Many countries already ban or made bitcoin illegal, but still bitcoin can be as high as it is now. But since US market is so big, and they're so influential i bet their regulation will really impact bitcoin as well. Good thing that so far US has not done anything to ban bitcoin or made it illegal. Government regulation will surely affect bitcoin, but how big the impact is determined by the influence of the country too i guess.

Findingnemo

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Bitcoin = Financial freedom

Quote from: slapper on April 19, 2021, 06:31:58 PM

Quote from: Ebede on April 19, 2021, 11:39:47 AM

Quote from: jackg on April 19, 2021, 11:27:35 AM

Quote from: Ebede on April 19, 2021, 11:19:29 AM

what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

For instance, Nigerian government made a recent policy that band crypto currency and its usage in the country,they even went to the extent of blocking all accounts that have ever engaged in crypto transaction but what did that lead to,it made it to be scarce in the country and all those who had it inflated there prices by adding additional amount to it and it became the most sought after crypto and its only sold on peer to peer level now

Not clear enough. Does the price of bitcoin or any specific cryptocurrency in Nigeria higher than in other parts of the world?

In my country, the government only bans bitcoin from being used as a decent currency for payment. There is no legal protection for cryptocurrency investors if they encounter loss or cyber thieves. Nevertheless, bitcoin is freely traded without having any critical issue. The most surprising thing is that the price of any cryptocurrency (and usdt) is about 5 ~ 7% higher than the world price. I do not know whether it is because of the government law or it is a result of a free market.

When there is not much of competition in the market with low liquidity then the traders will set the prices higher than the actual market price and it happens on local exchanges and peer to peer platforms, while where cryptos are highly used and banks try to ban the exchanges then peer to peer is the only choice when the price will be too high than compared to normal prices due to increased demand.

SacriFries11

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Quote from: hulla on April 28, 2021, 06:57:06 PM

Bitcoin and some other crypto currency come to stay because the trust the crypto community had in Bitcoin and how selfless Satoshi Nakamoto used when and after creating Bitcoin because the plan of some world leader that are against Bitcoin was to make it died that's why people like Paypal ex CEO compare Bitcoin to his autograph.

Some government sees the great thing about Bitcoin, and it helps their people. In my country, government are very active in the security of its people about cryptocurrency. They already make some regulations and created guidelines to avoid from being scams. They also make a list of legitimate companies registered to them in order for the people to buy and sell cryptocurrency. A lot of remittance centers and stores already accept cryptocurrencies here. Government’s decision has a big impact in the cryptocurrency. I hope countries see the significant thing about bitcoin and continue to support it.

Mauser

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Quote from: Ebede on April 19, 2021, 11:19:29 AM

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

I think that after the recent rally in the bitcoin market many governments realised how big the market really is. There is no way to fight it anymore, better to regulate and tax it. So most countries want to get a piece of the crypto pie. Which is a good thing. For us investors it is good to have more certainty about laws. With the correct framework we are protected more and can plan better for the future

Topic: Government policies help to grow the price of bitcoin - page 3. (Read 891 times)