Topic: Governments cannot control Bitcoin (Read 770 times)
Decentralized won't matter much if the government really wants to ban Bitcoin/cryptos and determine to do it. Please don't underestimate what the government could do with especially if the banking fund and want it to happen.
One government has full power to do anything good to users. The government can open Bitcoin transaction then buy transaction can follow. Same for selling who's selling Bitcoin government can track. The government can't track when users make transactions by person to person. Only Bitcoin transaction couldn't trace but I trust more monero coins for privacy.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
That's true all under by the government are regulated it's centralized based system. Since Bitcoin is not under by the government it is for everyone's choice all are equal unto it, and We can avail Bitcoin in what we can afford to lose it just simple as that, am right? But almost all centralized business or majority of them are adopting the concept of Bitcoin or they've used it as their front only most of the time.
Since the first day, bitcoin, and cryptos starting to form around the idea of a decentralized currency, governments already give on trying to control it. They only have some regulations for the end users site like exchanges and such. This is showing that being decentralized is the most important aspect for new cryptos.
The latter is more troublesome: "governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites" which the most critical thing for the crypto's ecosystem. Many of us only use crypto thanks to its value and any hit or restriction to exchange sites is very bad.
It is difficult for government to regulate bitcoin because it is designed to be decentralised. However, Government can regulate the flow of fiat currencies. This can be checked through ones bank transfers.
Yes, our governments can't control the bitcoin but they can make it illegal in our countries so that we can't use it no more.
We made the government to ourselves. We gave the full power government to do with us whatever is the best for us. The government can't survive without ourselves, without control we can't survive. Without tax, the government wouldn't support Bitcoin and it's secure transaction process. Do you believe the USA and China don't use Bitcoin this time?They can't control bitcoin if the government wants. Bitcoin is really out of the reach of the government. The government has the power to control them only on certain exchanges if it wants to. Bitcoin is a digital medium.
Government can undo and do whatever they so wish with bitcoin mate, don't underestimate the sovereignty of government as a body. A tweet by US alone can do immense damage to crypto currency. Quote
I think the government should legalize Bitcoin.
This would be difficult but with time, things change and I believe with more adoption, chances are high in the future. It's true that governments can't control Bitcoin and cryptocurrencies in general. That is also the reason, why they tried to stop the growth of it by making fun of it or even making it illegal in certain countries.
But i feel like this behaviour has stopped in the last two year or so. Governments noticed that they can't stop crypto and they made some regulations for it.
Most federal banks would still be happy though if crypto wouldn't exist i guess.
But i feel like this behaviour has stopped in the last two year or so. Governments noticed that they can't stop crypto and they made some regulations for it.
Most federal banks would still be happy though if crypto wouldn't exist i guess.
Yes they do because they are being challenged by the decentralized nature of Bitcoin and Cryptocurrency, but it;s a futile effort if they are going to stop decentralization and Cryptocurrency they can ban or regulate it, easiest thing to do is to regulate it.
They can't control bitcoin if the government wants. Bitcoin is really out of the reach of the government. The government has the power to control them only on certain exchanges if it wants to. Bitcoin is a digital medium. I think the government should legalize Bitcoin.
We should treat governments carefully and hope they eventually see the benefits of Bitcoin and cryptocurrency as a whole to come to accept it.
It will happened as there are developed countries who already embracing this system, sooner or later more and more government
will acknowledge and start accepting this process currency.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
thats why i like to bitcoin and other decentralized cryptocurrency rather than centralized crypto such as Xrp mate
because nobody can control this decentralized system
Without a short time server history, the government can't control Bitcoin transaction. For privacy and secure transaction (in any country) with low cost, Bitcoin is popular now. Bitcoin transaction cost is high and transaction is slow, we understand it for new altcoins feature. Future altcoins will be more untraceable and investors will be like to hold.
Well yes, they can't control Bitcoin directly because it is decentralized but rules and regulations on the other end would very much cause damage to Bitcoin.
Government have a claw implementing their rules inside their jurisdictions so even they can't control bitcoin they still have
the capabilities to limit or even stop if its needed if there's a need for them doing so.
We should treat governments carefully and hope they eventually see the benefits of Bitcoin and cryptocurrency as a whole to come to accept it.
It will happened as there are developed countries who already embracing this system, sooner or later more and more government
will acknowledge and start accepting this process currency.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
Even if the government should put regulation in place, like you have said it’s only going to be effective on exchanges, do you mean only centralized exchanges or the both types of exchanges?Because, the way I see it the government can only be able to regulate the transactions that are taking place on centralized exchanges, decentralized exchanges are something else and I don’t believe that the government can have any kind of control over them since they are decentralized. And also when people are doing transactions peer-to-peer the government won’t be able to keep an eye on it.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
Totally agree with you. Despite the regulations of the government of many countries, they cannot control the way people transact their cryptos. The decentralized nature of many cryptos make it hard for government to control them. Instead, they impose regulations to aid people in transacting their crypto assets.
Since many cryptocurrency exchanges require KYC verification, they have your personal data. And, as it already became known, more and more cryptocurrency exchanges cooperate and share information about their clients with the government, especially if there are tens of thousands on clients accounts. Therefore, their strength lies precisely in this, they know exactly who owns cryptocurrencies and, in particular, bitcoins.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
Totally agree with you. Despite the regulations of the government of many countries, they cannot control the way people transact their cryptos. The decentralized nature of many cryptos make it hard for government to control them. Instead, they impose regulations to aid people in transacting their crypto assets.
It's true that governments can't control Bitcoin and cryptocurrencies in general. That is also the reason, why they tried to stop the growth of it by making fun of it or even making it illegal in certain countries.
But i feel like this behaviour has stopped in the last two year or so. Governments noticed that they can't stop crypto and they made some regulations for it.
Most federal banks would still be happy though if crypto wouldn't exist i guess.
The bank never wanted a crypto market to exist in this market and surely without a crypto market the bank will dominate this era. It can be seen that the government hates Bitcoin very much because this coin affects their economy a lot because if people use it for transactions then the bank will inevitably close soon. However, very few people are aware of this market so hopefully things will change over the next few years. But i feel like this behaviour has stopped in the last two year or so. Governments noticed that they can't stop crypto and they made some regulations for it.
Most federal banks would still be happy though if crypto wouldn't exist i guess.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
Totally agree with you. Despite the regulations of the government of many countries, they cannot control the way people transact their cryptos. The decentralized nature of many cryptos make it hard for government to control them. Instead, they impose regulations to aid people in transacting their crypto assets.
The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.
You are totally having a misconception about bitcoin and government ruling against it.
It's true that government cannot bitcoin but don't be carried away by most of the things influencers speak on YouTube and and other channels.
Bitcoin is regulated and every transaction you do on blockchain can be track. More over, that's why KYC was implemented for anti money laundering, only government and regulated bodies can implement that.
What do you think will happen to bitcoin when united nations began to tackle bitcoin, definitely it will plunge a day without further growth because of its volatility.
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