GOVERNMENTS CAN CONTROL CRYPTOCURRENCY

Pan Troglodytes

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Quote from: krishnapramod on March 14, 2018, 06:09:48 AM

No one can control a decentralized crypto. Flow of fiat can be monitored. New form of money isn't subjected to existing guidelines...then it wouldn't be new Grin

....The government has control over fiat...crypto to fiat (no freedom)...illusion...cryptoeconomics (freedom)

no you are not right. Flow of cash cannot be monitored and that is why cash becomes illegal for operations between companies (at least it is happenning in Europe). Fortunately cash is still legal amongst the citizens, but in some countries there are limits too or the cash transactions are viewed as suspicious (vide Sweden)

Crypto on the other hand can be monitored. Did you hear about dust transactions? They enable to connect many addresses to a single user verified to only one of the addresses by KYC regulations. Monitoring of crypto is seriously and successfully attempted as we speak.

The_prodigy

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Quote from: bitart on March 17, 2018, 09:50:35 AM

Quote from: just_Alice on March 17, 2018, 09:08:56 AM

Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

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They can't control cryptocurrencies directly, but they can implement rules, that may affect cryptos spreading and their price. We have a lot of examples which prove that: taxes, banning by countries and by media, spreading of false stories, market manipulation, etc.

There's no need to control it directly, it's enough to control the entry and the exit point of money to/from blockchain. When it's about to exchanging the existing coins to fiat, there's the point when the tax authorities are interested in the transaction. This is enough, as long as the acceptance of cryptos are remaining in this state. As soon as people will accept crytos for p2p trades (like they will accept bitcoin when selling a second hand laptop, PC or anything else) than it will be harder to the authorities to manage the whole process. As long as the merchants won't accept bitcoin because of the uncertain law situation, governments have the time to think about the necessary steps to handle cryptos...

Yes, government can actuall control the cryptocurrency. But only in their country. They regulate the coins that enter in their country. Even qe say that the bitcoin is legal in one coutry we mist be careful because we know thqt the bitcoi are always used by bad people so we need to strong our securities. And worst case. Cryptocurrency can kill usong banning it in one county

Dmitry.Vastov

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

I am completely agreeing with the fact that there is no central governing body over BTC and moreover this is also very difficult for the government to control over BTC, but now this is necessity for the bitcoin to be centralized because Now people are hesitating in investing into BTC because government is taking no responsibility for BTC and any loses regarding bitcoin, so it's very necessary for BTC t be centralized, though this is very difficult but government have to control it.

Sab11

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Definitely no they can't control cryptocurrency, bitcoin and other cryptocurrency is a decentralized money, no one can control it, all government can do is to ban it from there country, decentralization is in the nature of crypto thats why i love it.

bitbunnny

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Governments will not control cryptocurrencies in the way you are saying. You are mixing things. KYC doesn't mean the control of blockchain and centralization, this is impossibe.
The measures that governments are taking or trying to take include defintions by law and customers protection, misuse of cryptocurrencies, dividing legal from illegal, control of exchanges and other business entities that deal with cryptocurrencies and similar.
People, don't spread panic and false information.

vergel24official

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Sure they want to! not quite sure they will able to! But as far as I understand week point we have exchanges. So governments may hit there, take under control exchanges and that is all.

tuikindu01

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

Global government agencies have shown a willingness to continue or begin to regulate cryptocurrency, as if the biggest Banks and financial firms are waiting for greater certainty before they actually enter the market. Countries such as venezuela have had to act to fight runaway inflation.

No one can control the spread of encryption.

Gabash

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

,,,Crypto is decentralized form of money, so it is impossible from them to controlled it. I think they could able to control only the exchanges from crypto. Decentralization is the most important characteristics of bitcoin.

Notcalculator

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

If they're really invested in it they could. They can't control it "directly" but they could control it by manipulating its environment. Crypto is small compared to first world governments. If they had a cause worth the expense, they could "control" it. Especially during the early stages when cryptos are conveniently almost dependent to exchanges. As long as there is somesort of dependency between crypto and fiat, there is some potential it could be taken over.

AliMan

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Quote from: chocolaty on March 17, 2018, 10:36:38 AM

I don't think so. No one can really be in control of this. Bitcoin is decentralized. The only thing they can do about it is create regulation and warn people about the risks the crypto world holds. If you mean control in a way that they are not directly managing it then it can. They could pose threats for example which can affect bitcoin demand.

Governments can control bitcoin in a way that it can restrict any activities related to bitcoin in its territories. Governments have the power to prohibit bitcoin like the government in China and other countries that doesn’t support bitcoin. But bitcoin can never be controlled by the government in a way that the government will regulate the value. Bitcoin cannot be totally controlled by government.

micher143

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

I think thy never been control crypto because one of the main reason is this decentralize therefore no one can manipulated and controlling it. We can do a transactions without knowledge of the third parties and by here we have our financials freedom. There is no government that gives the rules and regulations that sometimes it's making miserable to others. They can't be enter this kind of system and cannot hold it just to manipulating it.

Rosilito

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No, they definitely cannot. Well, how about some illegal drugs right? Eventhouth it is ban, there are still some people who are still involve with it, it would simply means that they cannot prohibit such laws completely, so, with regards to that issue that is hard for them to solve, why is still going to bitcoin that is obviously helping each of us positively in terms of financial

Sesiaw

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External Controls, Yes. Especially for Controlling, No. Bitcoin is supported by a blockchain system that can not be controlled by organizations, institutions and even governments, in short has no government. Prices will depend on demand and supply. What governments can do is to place restrictions, laws, rules and regulations on the territory and the people they handle or are governing, and the bitcoin price can not be regulated by any party of any country.

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Quote from: sirkings0003 on March 14, 2018, 05:56:03 AM

There have been a lot of arguments concerning this topic. Again, there have been a lot of pronouncements from governments officials pertaining cryptocurrency control and people actually reacted to them.

Even though some governments may want people to think they control and regulate cryptocurrencies, that is far from the case, as cryptocurrency cannot be regulated or controlled by default. Companies providing solutions related to this new form of money, on the other hand, are subject to existing guidelines which apply to other financial service providers as well. The flow of money in the cryptocurrency world is not controlled by any central authority, nor will it ever be.

What is your own thoughts about this?

In my opinion the Governments can't control the cryptocurrency, But The news that Governments ban Cryptocurrency can make some cryptocurrency price down. Because many people have invested their money in cryptocurrency less knowledge about it. So if there are Bad news about cryptocurrency like government ban, they are panic and sell all their crypto currency.

chocolaty

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I don't think so. No one can really be in control of this. Bitcoin is decentralized. The only thing they can do about it is create regulation and warn people about the risks the crypto world holds. If you mean control in a way that they are not directly managing it then it can. They could pose threats for example which can affect bitcoin demand.

camito

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I don't think government can ever control decentralized cryptos. They will find ways to control it but everytime they try to, they will always fail to achieve it. Maybe transactions can be traced by tracing exchangers used by users, from here they can put regulations and taxes if they wanted, but controling and taking over cryptos or ban person uses bitcoin, they can't do that unless they totally ban transactions with connections to cryptos in some countries or all over the world which is possible if they will try hard.

mlgblockchain

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If the governments can control a crypto currency then it's no more a crypto currency. The principles of a crypto currency includes decentralization. Which indicates it's freedom from government's control. Yes government can ban crypto currency but that's all they can do.

tegarp90

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yes they can if they make a regulation for it.
But i don't think they can take a full control since bitcoin itself is decentralized

Alamin2

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Some of the government try to control Cryptocurrency. But truth that it's not possible to control at this time.Actually I hope.No it's not possible!!!

anzhanbei1214068

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Cryptocurrencies are not developed by ngos. Until now, bitcoin and its many competitors have been developed independently of the central authorities. In theory, governments can control virtual currencies more effectively than paper currencies, since the government can monitor all transactions recorded on the blockchain ledger.

Thanks to the dominance of the us dollar and the us banking system, the us has a degree of control over the financial system. If enough countries set up their own digital currency systems, they will operate outside the existing framework to undermine traditional global central Banks.

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