Topic: Governments planning a Crypto Crackdown? - page 3. (Read 605 times)
In recent days more countries have revealed plans of having their own cryptocurrency. This doesn't make sense, atleast the country should create its own platform or just develop over the available platform. For this, they just digitise the monetary system and make it digital/cryptocurrency of the country. These are some useless ways to spend people's money on unnecessary development that won't make big changes.
every new regulation in the government will certainly create an uproar as stated above. Personally, I'm not too worried if some countries start planning to create a crypto crackdown because that has been the case for a long time. but that doesn't mean we can stay relaxed because if that happens of course we will lose momentum for crypto and can't take advantage of it anymore. what is certain is that whatever the current regulations are, I hope it can be beneficial for crypto enthusiasts and also the country.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
I don't think just these two examples qualify as the Government planing a crackdown on cryptocurrencies. For the Swedens Government moving towards criminalizing mining in their country, we have other countries that have made it a booming part of their economy e.g El Salvador. And for the US to do Blockchain surveillance, I will see it as a step in the right direction, and let's not forget that Blockchain technology is no longer only restricted to crypto space, it is been used or intended for other sectors of the economy and the US Government move might just reduce the criminals that exist in the crypto Blockchain space if there is proper surveillance and I think its a positive step. Should we be worried about this?
So, Sweden believes it can command weather and control climate by making people resolving math problems criminals? I have heard that Swedish prisons are almost entirely empty, but this criminalization nonsense where honest people doing business suddenly become dirty criminals cannot be counted as the best way to fill them out. Miners pay for electricity like any other responsible Swedish citizen, but the latter, for some reason, according to the government, doesn't make our climate warmer, doesn't leave a carbon footprint. What if a responsible Swedish citizen decides to use his electricity for running a computer with a math application installed instead of lighting his house, will it render him a criminal? It definitely will!
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
let these things be done and to see what will happen next. if you were worried and can't afford to hold or invest, maybe it was time to move on and secure your funds before it is going to happen. Because for me, I'm still in faith, and no matter what the government will do just to shutdown crypto, they still never win. This only causes chaos for a better start and huge adoption in return. Should we be worried about this?
And in fact, they have been doing this long-time before but nothing happens and crypto still growing and growing day by day, proven they can control it.
The heart of the matter is that government all over the world are always afraid of what they have no control over.
What they don't know is that no amount of crackdown will stop crypto.
Here in my country, banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.
That's the main reason why I think Government are also against Bitcoin. Because Bitcoin is uncontrollable. If you observe very well, you will notice that the Government are always afraid of anything that is out of their control. But come to think of it, will cracking down Crypto probably put a end to Bitcoin? I don't think so, rather it will make it more popular. For example, the number of Bitcoin users in Nigeria increased after Cryptocurrency was banned in the country. Bitcoin has come to stay, and it will be nice if the government embrace it.What they don't know is that no amount of crackdown will stop crypto.
Here in my country, banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.
Currently or in the long term?
Bitcoin has proven its ability to move despite all the restrictions that have been imposed or may be imposed on it, and therefore I will not be worried unless there is a global consensus to adopt strict laws or ban Bitcoin, which is something I do not expect to happen due to the difficulty of most countries of the world agreeing on something related to money.
Therefore, there may be a direct effect in the short and medium term, but it will not affect the long term.
Bitcoin has proven its ability to move despite all the restrictions that have been imposed or may be imposed on it, and therefore I will not be worried unless there is a global consensus to adopt strict laws or ban Bitcoin, which is something I do not expect to happen due to the difficulty of most countries of the world agreeing on something related to money.
Therefore, there may be a direct effect in the short and medium term, but it will not affect the long term.
There is no way government or institute can ban the decentralized crypto. Governments can only restrict centralized exchanges like binance but there is no way they can restrict p2p cash transfer on decentralized blockchains like BTC. We need to first understand what decentralized crypto is, if you got what is such news wont effect you.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
What else we could expect from governments? I am not referring any government here but when cryptocurrencies are trying to take away control from governments on momentary system then definitely they will try to protest to enjoy the continuing control and dominance in monetary system. Worldwide all countries are literally believing that just getting revenue from taxation alone will not enough for them but they need to be the only source for issuing money hence government definitely will try to regulate/ban cryptocurrencies; we must expect that.Fortunately bitcoin will not get impacted in long run by any kind of stand by the governments. This is true only for bitcoin and only for long run but in short term people might consider government stands as negative and may react.
The heart of the matter is that government all over the world are always afraid of what they have no control over.
What they don't know is that no amount of crackdown will stop crypto.
Here in my country, banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.
That's the main reason why I think Government are also against Bitcoin. Because Bitcoin is uncontrollable. If you observe very well, you will notice that the Government are always afraid of anything that is out of their control. But come to think of it, will cracking down Crypto probably put a end to Bitcoin? I don't think so, rather it will make it more popular. For example, the number of Bitcoin users in Nigeria increased after Cryptocurrency was banned in the country. Bitcoin has come to stay, and it will be nice if the government embrace it. What they don't know is that no amount of crackdown will stop crypto.
Here in my country, banks closes the account of any customer using their account for trading Crypto. But despite that, the crypto community is growing by the day. Crypto is something the government needs to study to understand how it works, so they can use the technology behind it in solving problems but their pride won't allow it , rather they would want to crackdown on it. I consider it a misplaced priority.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
Should we be worried about this?
Such cases often occur in all sectors, especially the market competition sector. so there is no need to worry about such an event, because it can cause panic selling everywhere. bitcoin has entered the world-class investment and everywhere has begun to adopt bitcoin, so that the government can no longer control the global economy.
As much as I hate to admit it, when asking whether we should be concerned about government wanting to "crackdown" on cryptocurrency my answer to that questions would be heck yes. Bitcoin and other cryptocurrencies can certainly exist even if the government tried putting out a full ban on it , but it's going to make it much more difficult for it to succeed. Most people aren't going to want to go through the trouble of wanting to do OTC transactions which will make the entire ecosystem that much more difficult to use and operate in.
The mining sector would definitely have to be worried ...
Could this be a good thing for crypto in general? I mean, if large mining farms were banned in countries with cheap electricity, there might be a rise in the number of small (domestic) miners, leading to greater decentralization.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
The thing is that I don’t really know how they plan on going about this. The government can do just about anything to make sure that they accomplish their plans. Well, I would say not to get all worried up right now, best to calm down and wait till we see what follows next before we start to react. But on the part of banning mining, I think we should be worried about that one, because cryptocurrency is being mined by big companies these days and can easily be tracked by the governments and shut down.So, if Sweden should decide that they are going to ban cryptocurrency mining, that wouldn’t be a difficult case for them to handle, it would be easy for them to do that, just like China did. I’m just hoping that governments stop their madness on bitcoin, seriously it’s annoying.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
It's getting to become a global war intentions from government in crypto-currency, my country has laid out plans using police, banks and financial institution, to bring down peoples enthusiasm for Bitcoin, but what I have found out from when the government started to clamp down on Crypto-currency transactions, users an enthusiast is that not even the government is big enough to kill Crypto space/excitement and interest, and then they -my countries government- tried out starting their own crypto, which was always not going to be successful. Should we be worried about this?
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
Should we be worried about this?
This is worrisome as although our countries may not be affected but it will hinder the global adoption we are hoping for crypto. This action of the government will not kill bitcoin since there are also countries that are legalizing bitcoin, so it will still continue to exist, however, it will only be limited due to harsh restrictions implemented by some countries.
The purpose of bitcoin is decentralization and anonymity, if they'll kill that purpose, there's no reason it will progress.
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
Two countries is not enough to talk about governments planning a crackdown. My country's government, for instance, is actually planning to adopt cryptos over the years and create a favorable regulatory framework for crypto businesses and owners because they see it all as a way of helping out our economy. Then there's El Salvador that embraced Bitcoin like nobody else. India, China and Nigeria show worrisome things, but none is 100% against cryptos yet, and they also don't constitute the majority of the world. I think that overall the situation is okay and cryptos aren't likely to be banned in the majority of the world. Regulations can be strict at some places or restrict certain activities, but it's not the end of the world. Should we be worried about this?
Recently, many governments have been showing increasing animosity against Cryptos. While the US is preparing to launch a Blockchain surveillance plan, other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.
Should we be worried about this?
For physical persons, cryptocurrency cannot be banned. And for a crypto business, it will always be possible to find a jurisdiction loyal, for example Estonia Should we be worried about this?
In my perspective, crackdowns would never stop and it may happen anytime without warning, even in my home country. It’s really expected that when crypto goes mainstream and the number of people who are using it have increased, the governments are gonna pay attention to that.
I would like them to regulate cryptocurrencies at least, not banning them like China and other countries who are anti-crypto. On top of that, I am in favor of them taxing our unrealized gains because this is totally absurd especially that the market is highly volatile.
I would like them to regulate cryptocurrencies at least, not banning them like China and other countries who are anti-crypto. On top of that, I am in favor of them taxing our unrealized gains because this is totally absurd especially that the market is highly volatile.
The mining sector would definitely have to be worried but I don't think that it's the day to be worried especially if you're in a country that doesn't have any plans on cracking down on cryptocurrencies and I don't think that we will probably see those crackdowns a permanent thing, I mean look at India, they're on an on and off relationship with crypto for years now so it's not far that other countries might have the same direction towards crypto.
Not really worried one bit. Of all those countries wanting to ban crypto, a lot others are still positively aiming to get to crypto first and establish their dominance in the crypto space. Also, a lot of huge companies are also keen on getting that number one status when it comes to cryptocurrencies, so the number of countries banning crypto and taking a piss on it is insignificant when paired with those who want to develop their own space with it, together with a lot other huge companies that already have their feet wet.
Just take a good example of China. China is influential and giant country, and yet, they can't topple the crypto market. So banning by other governments will not significantly affect the crypto market. It is their loss actually to participate in this market. I have the feeling the later on, these governments who are cracking down crypto will change their stance if they see that more progressive countries are actually accepting its existence.
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