Governments planning a Crypto Crackdown?

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Quote from: noah tall on December 10, 2021, 05:58:22 AM

Many countries are trying . Because decentralization is most danger for every government because of money laundering. But they are failed due to decentralization. They can't ully control the crypto . So many exchanges are centralized who need KYC . In that case they can banned exchanges.

Yes the government is always afraid of decentralization for some reasons. But there are some things that they do say which I don’t really believe that much. OK in the case of money laundering, I might have to believe that because I’ve seen quite a few stories on people who used cryptocurrency for money laundering and they were caught and also punished for it. But in the case of government saying that cryptocurrency, especially Bitcoin, is being used for funding terrorism, that’s what I’m not really believing.

I am not believing that because they haven’t even given any proof at all to show that Bitcoin is being used for that purpose. Did they ever ask themselves this question, when there was no Bitcoin what were all these people making use of? Even before Bitcoin was created, there were people who were funding terrorism back then, so how were they able to do it? Instead of looking for excuses to give, it would be best for them to look for ways to stop those who are committing all these crimes.

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Many countries are trying . Because decentralization is most danger for every government because of money laundering. But they are failed due to decentralization. They can't ully control the crypto . So many exchanges are centralized who need KYC . In that case they can banned exchanges.

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Quote from: worldofcoins on December 08, 2021, 09:27:39 AM

Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

The trend of using bitcoin in many transactions is getting higher day by day as compared to fiat. If we look into the financial perspective. It may have a great impact on the economy. Governments should formulate regulations on crypto markets rather than banning or crackdown. Also as about the crackdown on crypto, I think it would be practically impossible for the government. However, nothing can be exactly predicted.

I don't think crypto transactions can now be considered higher to fiat transactions because the majority of financial transactions across the globe is still in fiat. But I do agree that crypto adoption is increasing day by day. Crackdown is not ultimately possible because people can still do their crypto transactions without the government knowing it. There are so many ways now how to go around the government. So it is not in their best interest if they will totally ban it, because users will always find a way how to execute their transaction.

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Quote from: worldofcoins on December 08, 2021, 09:27:39 AM

Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

The trend of using bitcoin in many transactions is getting higher day by day as compared to fiat. If we look into the financial perspective. It may have a great impact on the economy. Governments should formulate regulations on crypto markets rather than banning or crackdown. Also as about the crackdown on crypto, I think it would be practically impossible for the government. However, nothing can be exactly predicted.

To tell you the truth, i am not afraid of government crack down on cryto currency but what is fear is the news of this crackdown.
As soon as we hear the news from any reliable source that government in banning crypto or arresting people for using crypto, all of sudden we may start to see the crypto prices dump. Sad

worldofcoins

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

The trend of using bitcoin in many transactions is getting higher day by day as compared to fiat. If we look into the financial perspective. It may have a great impact on the economy. Governments should formulate regulations on crypto markets rather than banning or crackdown. Also as about the crackdown on crypto, I think it would be practically impossible for the government. However, nothing can be exactly predicted.

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Quote from: mk4 on November 25, 2021, 09:54:05 AM

Quick tip: expect government crackdowns in different shapes and forms; hence, probably expect this to be a bumpy ride(though you probably already know this by now). If negative news gets you worried, probably decrease your BTC allocation a bit.

Well, this is the first time governments have fired shots at BTC and all of crypto. they have tried hard since the inception and will keep trying since they feel like they can still stop decentralization and open finance from becoming a thing. my best guess is that crypto regulations in several countries are going to get even more tighter in the coming year - my country already cracked down on crypto earlier this year so I don't know if it can get any worse than this: https://www.dw.com/en/nigerias-cryptocurrency-crackdown-causes-confusion/a-56547374

Governments should concern themselves with more important matters like stopping or at the very least, reducing inflation to the bare minimum instead of trying to stop regulation.

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Quote from: arwin100 on December 02, 2021, 08:24:56 AM

Quote from: michellee on December 01, 2021, 08:31:57 PM

Quote from: BuNga_cute on December 01, 2021, 03:47:24 PM

Quote from: michellee on December 01, 2021, 07:40:40 AM

--

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

Maybe the government still needs time to admit the benefits of crypto because they still learning more details to explore what is blockchain and how they can fully use the benefits to them. The country that prohibits crypto will see that what they did is not right because that can limit their country to grow while the other country has already reached phase 1 to grow and will go to the next phase. They can see what was happen to El Salvador as the country that fully allows bitcoin and even, they mine bitcoin with volcano resources. They can accept the new thing that happen around them and try to figure out and use them for their own benefit.

Some are skeptical because they don't want their fiat to be outdated with digitalization and many afraid about this new technology introduced to them since first this was been advertise as tool for scamming that's why some other government entities still think about crypto is bad for their citizens. Maybe if we can change their mindset towards this and they see how useful the crypto is for sure they will adopt it and find some certain areas where they can understand it well.

We dont really need to push it out for them to learn or aware because they arent dumb on not for them to at least study on something which is trying out to dethrone them in terms of financial system which it would be just normal that they would really be having these kind of doings because they dont like
to be overtaken and wont really allow the whole community or citizens on dealing with it. Of course the media will really tell something against it
which is totally not really that ethical but we know that the truth will prevail.

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Quote from: michellee on December 02, 2021, 09:30:15 PM

They need to change their mind because not all new things can give a bad effect on their lives and who knows, many new things will change our lives to be better. But it is hard to give an explanation to them, especially if they do not have an open mind about something different. But if those people see what happen to others by using crypto and get benefit from crypto, sooner or later they will be curious about how they can get that. Maybe at that time their mind will be opened and will accept crypto without excuse.

Yes, they need to change their mind as you have said. But for some people it is not really about having a bad effect or anything like that, the thing is they just feel that it is not going to work for them, so they just focus on other things that they believe is good or meant for them. When I talk to people about cryptocurrency I don’t really see it as something that they must be into, or try to force them into it. I just said something, that it is all about choice, if you think you can do it and you have a full understanding or knowledge of it and understands the risk that you are about to take, then you should be part of it, and work hard in making your success.

But, if you feel that this is not going to work for you, ladies and gentlemen I’m going to tell you to just back off and look for something else. I have had a friend blame me once just because I was the one who introduced him to Bitcoin and after investing he lost some of his money. So, he then had to put the blame on me, saying that if I never told him then he wouldn’t have lost his money.

Although I do know that’s kind of low of him, because I made it clear to him that there are risks that are involved. So what I’m trying to say is that we should know the right path and follow it.

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Quote from: Sled on December 01, 2021, 04:42:42 PM

Quote from: carrigan on December 01, 2021, 08:38:15 AM

I'm not too worried about that. So far, crypto is also running between 2 camps with different perceptions. There have always been people who hate and love crypto. Even those who hate it are not few, they are almost equal in number to those who love crypto. The crypto crackdown plan by the government seems to have quite an impact later, but I believe crypto will continue to survive any situation that pressures it. Plus the news from the US that will make rules if Bitcoin mining will be criminalized this also seems to be bad news. But don't be discouraged because many other countries actually fully support the existence of cryptocurrencies even though they are mining.

The government won't stop crypto but rather take control of it. And that is why they will implement strict rules and discourage people to invest in crypto because they failed to control it.

In the situation where we hear about FUDs, bad news, or anything that ruins the market, we feel bad and sometimes get emotional but if we trust crypto (especially Bitcoin), that seems everything going fine and makes us calm. That is simple, I don't make those things a big deal, instead, I just ignore them.

They can't take control over it, they will dabble in the crypto market through CBDC's (which aren't a true crypto currency but comparable), and then they'll regulate true cryptos like Bitcoin into the ground by taxing its use, or outright banning it. The government will tell you their intention is to regulate, but regulation is the first step down the slippery slope of an outright ban. I don't think people should casually make concessions about their country regulating crypto.

I've seen people defend India by stating they're not banning Bitcoin, merely regulating it. Since when has the government ever rejected the opportunity for more control over citizens?

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Quote from: arwin100 on December 02, 2021, 08:24:56 AM

Some are skeptical because they don't want their fiat to be outdated with digitalization and many afraid about this new technology introduced to them since first this was been advertise as tool for scamming that's why some other government entities still think about crypto is bad for their citizens. Maybe if we can change their mindset towards this and they see how useful the crypto is for sure they will adopt it and find some certain areas where they can understand it well.

Indeed. They need to change their mind because not all new things can give a bad effect on their lives and who knows, many new things will change our lives to be better. But it is hard to give an explanation to them, especially if they do not have an open mind about something different. But if those people see what happen to others by using crypto and get benefit from crypto, sooner or later they will be curious about how they can get that. Maybe at that time their mind will be opened and will accept crypto without excuse.

Eze8

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I believe it won't work out,
most of the government officials
Deals with cryptos.
It will be like beating their fingers
With their mouth.

Imran232

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To clarify those things, I have to think about 2 things. If you think about these two things, I hope you will get your answer. First and foremost, consider what government could launch a crypto alternative.If they launch and if it can be tracked, then it won't be a crypto project or it won't be on blockchain technology. Because if they launch blockchain technology, then people can use bitcoin easily. Because we know the nature of cryptographic images is that they are untraceable. Then just think if the government launches something that will be centralized, that will be digital currency. That won't be crypto. I hope you understand.

Zilon

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No matter what turns out in Sweden the effect will only be felt if investors react negatively to the news. This isn't the first time nations rise against crypto but the truth remains the more the lunch their attacks the more new ATHs we get. The effect might only be felt for a while but after then a new bull run lunches.

Criminalizing crypto mining would only shift mining to other countries where it will be well appreciated some thing similar happened in China and mining is still going on till date

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Quote from: Welsh on December 01, 2021, 05:54:30 PM

I don't think this is a bad thing, they'll likely try monitoring the crime associated with Bitcoin, rather than cracking down on Bitcoin itself. We all know that there's a lack of legislation with Bitcoin due to its nature, and I think monitoring services for fraud, exit scams, and all the other various scams that exist is a good thing. It might actually benefit Bitcoin in the long run, if we're able to start preventing as many scams from happening, since it will legitimize Bitcoin in the public's eye as well as the news sources which would be incredibly important for adoption.

Cracking down on mining, I'm not sure what they're implying by that. I'm assuming it will be looking at who is mining, and who isn't declaring tax. Again, isn't a terrible idea, and should benefit Bitcoin rather than hurt it. Where ever we can legitimize Bitcoin, without compromising users privacy I think is a benefit.

Yes, hopefully this aims to monitor the actions of criminals so that criminal acts do not occur in the crypto world. We know that Bitcoin cannot be destroyed, therefore the government can only monitor Bitcoin to avoid criminal acts and besides that the Government may order bitcoin miners to pay taxes.
There is a good side if the government has monitored Bitcoin, people will start buying Bitcoin because they think buying Bitcoin is very safe if it is monitored by the Government.

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Quote from: DoublerHunter on December 01, 2021, 05:11:38 PM

^ It seems like China, is that right?
I don't know, maybe they will get tired soon and stop chasing with BTC. Because if BTC will crackdown is just us the holders, if we believe them they are the winner, if we will ignore them, they will not succeed. No one can stop BTC and we know that and I think there is nothing to worry about because FUD is just a FUD and nobody believes it.

China has always wanted to do that to increase its power and influence and position even more. Of course, FUD is trying to get the media to move it as quickly as possible, even with the current US. It's nothing seriously new to bitcoin. The government is still trying to find a way out of the deadlock on bitcoin, that is the only pressure every government cares about. I believe bitcoin will react well to the upcoming ATH.

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Quote from: arwin100 on December 02, 2021, 08:24:56 AM

Quote from: michellee on December 01, 2021, 08:31:57 PM

Quote from: BuNga_cute on December 01, 2021, 03:47:24 PM

Quote from: michellee on December 01, 2021, 07:40:40 AM

--

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

Maybe the government still needs time to admit the benefits of crypto because they still learning more details to explore what is blockchain and how they can fully use the benefits to them. The country that prohibits crypto will see that what they did is not right because that can limit their country to grow while the other country has already reached phase 1 to grow and will go to the next phase. They can see what was happen to El Salvador as the country that fully allows bitcoin and even, they mine bitcoin with volcano resources. They can accept the new thing that happen around them and try to figure out and use them for their own benefit.

Some are skeptical because they don't want their fiat to be outdated with digitalization and many afraid about this new technology introduced to them since first this was been advertise as tool for scamming that's why some other government entities still think about crypto is bad for their citizens. Maybe if we can change their mindset towards this and they see how useful the crypto is for sure they will adopt it and find some certain areas where they can understand it well.

This is also a question of time in that older politicians will be replaced by younger politicians and this generation and the next generations will get away more and more from paper money. That doesn't mean they will get away from digitized fiat money. That is the big question: who are the people who get positions of political power, what are their perspectives on currencies like Bitcoin and what is their own (financial) interest in pursuing like Bitcoin to play a whole different, more relevant role in the world? Everyone has their own agenda, and we can all imagine that more and more people who grow up with Bitcoin also will have political power one day.

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Quote from: michellee on December 01, 2021, 08:31:57 PM

Quote from: BuNga_cute on December 01, 2021, 03:47:24 PM

Quote from: michellee on December 01, 2021, 07:40:40 AM

--

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

Maybe the government still needs time to admit the benefits of crypto because they still learning more details to explore what is blockchain and how they can fully use the benefits to them. The country that prohibits crypto will see that what they did is not right because that can limit their country to grow while the other country has already reached phase 1 to grow and will go to the next phase. They can see what was happen to El Salvador as the country that fully allows bitcoin and even, they mine bitcoin with volcano resources. They can accept the new thing that happen around them and try to figure out and use them for their own benefit.

Some are skeptical because they don't want their fiat to be outdated with digitalization and many afraid about this new technology introduced to them since first this was been advertise as tool for scamming that's why some other government entities still think about crypto is bad for their citizens. Maybe if we can change their mindset towards this and they see how useful the crypto is for sure they will adopt it and find some certain areas where they can understand it well.

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Quote from: TheNineClub on December 01, 2021, 05:07:14 PM

Criminalizing mining is far from a crackdown. Seeing how mining works, I am not all that surprised that they would put some restrictions on it, regulate it, or whatnot, but, I don't see any legal justification for banning crypto (in a democracy). They are just testing out waters to see what model works best for this, more or less, new concept. But we have to take into account that the governments will try to regulate crypto (and do so in some aspects). Regulating this is for the government much better, easier, and in turn more profitable than a full-on crackdown.

I agree. In the future, however, a lot will probably happen in the sense that more and more restrictions will be imposed and mining etc. will become more difficult as a result. Here I see but the aproblem that then only large farms can operate minng, because the entry hurdle is too large for small. I can still remember the early days, where you could still operate well with two graphics cards mining. Today hardly imaginable

Leonardo7

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The government feel what they all think won't survive has rebound stronger and outperforming the traditional investment, and life is shifted to decentralization. It's a movement they know they can't stop, so they are trying a way around it to regulate it. It's not an easy task to survey cryptocurrency activities. My apex bank governor directed banks to shutdown accounts of anyone dealing with cryptocurrency, so we are saw it coming, we went P2P.

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Quote from: BuNga_cute on December 01, 2021, 03:47:24 PM

Quote from: michellee on December 01, 2021, 07:40:40 AM

--

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

Maybe the government still needs time to admit the benefits of crypto because they still learning more details to explore what is blockchain and how they can fully use the benefits to them. The country that prohibits crypto will see that what they did is not right because that can limit their country to grow while the other country has already reached phase 1 to grow and will go to the next phase. They can see what was happen to El Salvador as the country that fully allows bitcoin and even, they mine bitcoin with volcano resources. They can accept the new thing that happen around them and try to figure out and use them for their own benefit.

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Quote from: Welsh on December 01, 2021, 07:22:48 PM

Quote from: Smartvirus on December 01, 2021, 06:18:50 PM

Cryptos is here to stay, with El-Salvador planning to create a crypto city after accepting it for a legal tender earlier, how then do they get to drop it? Certainly, this is another fud as always and true crypto enthusiast will always see its end.

Well, El Salvador is only a drop in the ocean. They don't really have a massive influence on other governments in the world. Its not exactly FUD, governments will want to implement plans to prevent fraud, money laundering, and that isn't necessarily a bad thing like I tried to explain above. To me, as long as its not an invasion to privacy then I'm all for introducing ways which could potentially prevent further crime from happening.

I think a lot of Bitcoin users see government intervention as a bad thing, but I think it could actually work to our benefit in legitimizing it in the public's eye. Plus, if we can sort out some of the grey areas in cryptocurrency when it comes to crime, I think that'll only help the confidence in people investing in Bitcoin.

Yes, El Salvador can't influence other governments in the world, and if El Salvador were among the top 10 countries in the world the situation would have been different.
Having said that, before the creation of Bitcoin fraud, money laundering, and other crime have been in existence. However, the government implementing plans that will avert fraud is good but they later use it to invade people's privacy and this is the reason why Bitcoin users see the government intervention as something that's bad.

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Quote from: Smartvirus on December 01, 2021, 06:18:50 PM

Cryptos is here to stay, with El-Salvador planning to create a crypto city after accepting it for a legal tender earlier, how then do they get to drop it? Certainly, this is another fud as always and true crypto enthusiast will always see its end.

Well, El Salvador is only a drop in the ocean. They don't really have a massive influence on other governments in the world. Its not exactly FUD, governments will want to implement plans to prevent fraud, money laundering, and that isn't necessarily a bad thing like I tried to explain above. To me, as long as its not an invasion to privacy then I'm all for introducing ways which could potentially prevent further crime from happening.

I think a lot of Bitcoin users see government intervention as a bad thing, but I think it could actually work to our benefit in legitimizing it in the public's eye. Plus, if we can sort out some of the grey areas in cryptocurrency when it comes to crime, I think that'll only help the confidence in people investing in Bitcoin.

Quote from: AliMan on December 01, 2021, 06:59:14 PM

and that doesn't matter if government implemented laws pertaining crypto regulations as long as you don't break any rules.

This highly depends on the sort of rules they're looking to implement. Though, increased regulations isn't always a bad thing. Depending on how it's implemented. As long as it doesn't impact privacy, security or restrict the freedom too much then I don't see a major problem with it.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

If I would have to think at worst, may I should have to worry but mining operation still continue to persist as long as technology evolves. Miners who invented their money on rigs, won't be left behind on every developments and they knew how to handle changes prior problem happens. Everyone got their own freedom, and that doesn't matter if government implemented laws pertaining crypto regulations as long as you don't break any rules.

Smartvirus

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Its nothing new for governments of the world to start paying attention to what they once undermined earlier in an attempt to bring it down. Unfortunately they only can, should they be united in this bid but, that's one thing nations of the world can't archive. Again, it goes to question human rights, freedom and freewill. I direct subjugation on cryptocurrency means, a direct subjugation on what makes us humans. Cryptos is here to stay, with El-Salvador planning to create a crypto city after accepting it for a legal tender earlier, how then do they get to drop it? Certainly, this is another fud as always and true crypto enthusiast will always see its end.

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I don't think this is a bad thing, they'll likely try monitoring the crime associated with Bitcoin, rather than cracking down on Bitcoin itself. We all know that there's a lack of legislation with Bitcoin due to its nature, and I think monitoring services for fraud, exit scams, and all the other various scams that exist is a good thing. It might actually benefit Bitcoin in the long run, if we're able to start preventing as many scams from happening, since it will legitimize Bitcoin in the public's eye as well as the news sources which would be incredibly important for adoption.

Cracking down on mining, I'm not sure what they're implying by that. I'm assuming it will be looking at who is mining, and who isn't declaring tax. Again, isn't a terrible idea, and should benefit Bitcoin rather than hurt it. Where ever we can legitimize Bitcoin, without compromising users privacy I think is a benefit.

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Quote from: DoublerHunter on December 01, 2021, 05:11:38 PM

Quote from: Sled on December 01, 2021, 04:42:42 PM

~snip~
In the situation where we hear about FUDs, bad news, or anything that ruins the market, we feel bad and sometimes get emotional but if we trust crypto (especially Bitcoin), that seems everything going fine and makes us calm. That is simple, I don't make those things a big deal, instead, I just ignore them.

^ It seems like China, is that right?
I don't know, maybe they will get tired soon and stop chasing with BTC. Because if BTC will crackdown is just us the holders, if we believe them they are the winner, if we will ignore them, they will not succeed. No one can stop BTC and we know that and I think there is nothing to worry about because FUD is just a FUD and nobody believes it.

This is why they do target out centralized platforms because they do know that this is the only way they could crackdown into those people who are engaging or dealing with it thats the only thing they could do but cracking out technically? Then it cant be possible.

Crackdown is something that they've been trying to do for how many years for sure yet decentralization do always opposes centralization
on where government is playing on.

Something opposes with that idea will definitely be having some regulation problems which it isnt surprising but we dont actually get buldge with that.

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Quote from: Sled on December 01, 2021, 04:42:42 PM

~snip~
In the situation where we hear about FUDs, bad news, or anything that ruins the market, we feel bad and sometimes get emotional but if we trust crypto (especially Bitcoin), that seems everything going fine and makes us calm. That is simple, I don't make those things a big deal, instead, I just ignore them.

^ It seems like China, is that right?
I don't know, maybe they will get tired soon and stop chasing with BTC. Because if BTC will crackdown is just us the holders, if we believe them they are the winner, if we will ignore them, they will not succeed. No one can stop BTC and we know that and I think there is nothing to worry about because FUD is just a FUD and nobody believes it.

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Criminalizing mining is far from a crackdown. Seeing how mining works, I am not all that surprised that they would put some restrictions on it, regulate it, or whatnot, but, I don't see any legal justification for banning crypto (in a democracy). They are just testing out waters to see what model works best for this, more or less, new concept. But we have to take into account that the governments will try to regulate crypto (and do so in some aspects). Regulating this is for the government much better, easier, and in turn more profitable than a full-on crackdown.

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Quote from: carrigan on December 01, 2021, 08:38:15 AM

I'm not too worried about that. So far, crypto is also running between 2 camps with different perceptions. There have always been people who hate and love crypto. Even those who hate it are not few, they are almost equal in number to those who love crypto. The crypto crackdown plan by the government seems to have quite an impact later, but I believe crypto will continue to survive any situation that pressures it. Plus the news from the US that will make rules if Bitcoin mining will be criminalized this also seems to be bad news. But don't be discouraged because many other countries actually fully support the existence of cryptocurrencies even though they are mining.

The government won't stop crypto but rather take control of it. And that is why they will implement strict rules and discourage people to invest in crypto because they failed to control it.

In the situation where we hear about FUDs, bad news, or anything that ruins the market, we feel bad and sometimes get emotional but if we trust crypto (especially Bitcoin), that seems everything going fine and makes us calm. That is simple, I don't make those things a big deal, instead, I just ignore them.

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Quote from: BuNga_cute on December 01, 2021, 03:47:24 PM

Quote from: michellee on December 01, 2021, 07:40:40 AM

Quote from: BuNga_cute on December 01, 2021, 04:32:27 AM

If it is true that there are government who can crack down on cryptocurrencies, it may have been done a long time ago. If any country planned
that now, it's obvious the country's government is just bluffing or they don't really understand cryptocurrencies. Because after all no one can
interfere with the crypto process on the blockchain. There have been various ways crypto haters have done to make crypto die, but until now
crypto is still growing and cannot be stopped. Instead of being an enemy of crypto, why not try to accept crypto, so government can get
the benefits of crypto. I also hope many countries are not too harsh on crypto, because crypto is not bad, It must even be admitted that since
the existence of crypto, many people have helped the economy after using crypto to make money.

People who engage in crypto wish that the government is not too harsh or even banning the crypto because that will not give a chance for their people to use the benefit from the crypto itself. I just think that if the government can work together with crypto by regulating the use of crypto for their people, they will not have a difficulty and will get a chance to have additional resources that can help their finances. Maybe they can gather the data of people who use crypto and see how crypto can help them make money.

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

If only majority of the country's leaders are like Bukele's positive mindset about crypto, then we will no longer face these attacks from the government. Because i believe the government should always provide our rights and protect us to whatever circumstances and not to deprive us from our own rights and choices in life. And we should not fear about this crypto crackdown because even how intense they are in their decisions, but as long as crypto or bitcoin remains to be decentralized, then they can't easily control it and do whatever they want to do.

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Quote from: michellee on December 01, 2021, 07:40:40 AM

Quote from: BuNga_cute on December 01, 2021, 04:32:27 AM

If it is true that there are government who can crack down on cryptocurrencies, it may have been done a long time ago. If any country planned
that now, it's obvious the country's government is just bluffing or they don't really understand cryptocurrencies. Because after all no one can
interfere with the crypto process on the blockchain. There have been various ways crypto haters have done to make crypto die, but until now
crypto is still growing and cannot be stopped. Instead of being an enemy of crypto, why not try to accept crypto, so government can get
the benefits of crypto. I also hope many countries are not too harsh on crypto, because crypto is not bad, It must even be admitted that since
the existence of crypto, many people have helped the economy after using crypto to make money.

People who engage in crypto wish that the government is not too harsh or even banning the crypto because that will not give a chance for their people to use the benefit from the crypto itself. I just think that if the government can work together with crypto by regulating the use of crypto for their people, they will not have a difficulty and will get a chance to have additional resources that can help their finances. Maybe they can gather the data of people who use crypto and see how crypto can help them make money.

I believe the government actually knows crypto can bring a lot of benefits, but they are too embarrassed to admit it. That's why we find most
countries are neutral towards crypto, which limits the use of crypto to only digital assets. While those that actually ban crypto are not many
countries that do it, therefore I am very grateful that my country does not prohibit the use of crypto. And I also believe that slowly countries
that ban crypto will change their minds, because there are already several countries that initially banned it, but now it has started to open up
to crypto. But it would be better if more countries could do what El Salvador is already doing, that's the hope of the crypto community around the world.

carrigan

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I'm not too worried about that. So far, crypto is also running between 2 camps with different perceptions. There have always been people who hate and love crypto. Even those who hate it are not few, they are almost equal in number to those who love crypto. The crypto crackdown plan by the government seems to have quite an impact later, but I believe crypto will continue to survive any situation that pressures it. Plus the news from the US that will make rules if Bitcoin mining will be criminalized this also seems to be bad news. But don't be discouraged because many other countries actually fully support the existence of cryptocurrencies even though they are mining.

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Quote from: BuNga_cute on December 01, 2021, 04:32:27 AM

If it is true that there are government who can crack down on cryptocurrencies, it may have been done a long time ago. If any country planned
that now, it's obvious the country's government is just bluffing or they don't really understand cryptocurrencies. Because after all no one can
interfere with the crypto process on the blockchain. There have been various ways crypto haters have done to make crypto die, but until now
crypto is still growing and cannot be stopped. Instead of being an enemy of crypto, why not try to accept crypto, so government can get
the benefits of crypto. I also hope many countries are not too harsh on crypto, because crypto is not bad, It must even be admitted that since
the existence of crypto, many people have helped the economy after using crypto to make money.

People who engage in crypto wish that the government is not too harsh or even banning the crypto because that will not give a chance for their people to use the benefit from the crypto itself. I just think that if the government can work together with crypto by regulating the use of crypto for their people, they will not have a difficulty and will get a chance to have additional resources that can help their finances. Maybe they can gather the data of people who use crypto and see how crypto can help them make money.

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That isn't new because ever since before they're really want to crack it down for some reason.. They are very against when it comes crypto even some countries were not. They can't see what's the real value of crypto because you know they can't control it obviously wherein in order to have benefits as well. Lol but yeah don't trust them because if they can stop or halt crypto probably it already happened. But see its still a live nowadays and most hated crypto became more expensive. Grin

so ignore them mate if i were you..

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Quote from: michellee on December 01, 2021, 03:30:57 AM

Quote from: RavenTimmy on December 01, 2021, 02:00:51 AM

I do not think it will be possible for any government to plan a crypto crackdown. As bitcoin is based on blockchain technology, it nullifies all oversight from any central authority. It is beyond the scope of any government to control or manipulate the mining of bitcoin. It won’t be possible for them to plan any crackdown.

They can not crackdown on crypto but they can control their citizen from using crypto. That is what we need to realize because, with all of their resources, they can find who used crypto and for what purpose. But the government can not interfere with the crypto process in the blockchain and no one can do that.

I wonder what will happen to crypto in that country if they really want to move towards a crypto crackdown because crypto already grows. I hope that everything will be okay and not making a new problem for that country. If the government wants to make new regulations, I hope that they will not be too strict.

If it is true that there are government who can crack down on cryptocurrencies, it may have been done a long time ago. If any country planned
that now, it's obvious the country's government is just bluffing or they don't really understand cryptocurrencies. Because after all no one can
interfere with the crypto process on the blockchain. There have been various ways crypto haters have done to make crypto die, but until now
crypto is still growing and cannot be stopped. Instead of being an enemy of crypto, why not try to accept crypto, so government can get
the benefits of crypto. I also hope many countries are not too harsh on crypto, because crypto is not bad, It must even be admitted that since
the existence of crypto, many people have helped the economy after using crypto to make money.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

If you are running a public crypto business or you are accepting crypto payments in your business, then you should worry as you won't be able to continue it if the government starts the Crypto Crackdown.
However if you are doing trading and / or holding crypto, then there is no need to be worried.

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Quote from: RavenTimmy on December 01, 2021, 02:00:51 AM

I do not think it will be possible for any government to plan a crypto crackdown. As bitcoin is based on blockchain technology, it nullifies all oversight from any central authority. It is beyond the scope of any government to control or manipulate the mining of bitcoin. It won’t be possible for them to plan any crackdown.

Right. This is what the government's mostly do. If they think they can't totally ban crypto, then they resort on planning for crypto crackdown which i think won't really be happening. But we should not worry about this because crypto is now becoming inevitable no matter how the government try to stop it. They may have the full control on their citizens but when it comes to bitcoin and its blockchain technology, it will never be controlled by any entity or group. As long as bitcoin remains to be decentralized, then it will always be uncontrolled by the government.

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Quote from: RavenTimmy on December 01, 2021, 02:00:51 AM

I do not think it will be possible for any government to plan a crypto crackdown. As bitcoin is based on blockchain technology, it nullifies all oversight from any central authority. It is beyond the scope of any government to control or manipulate the mining of bitcoin. It won’t be possible for them to plan any crackdown.

They can not crackdown on crypto but they can control their citizen from using crypto. That is what we need to realize because, with all of their resources, they can find who used crypto and for what purpose. But the government can not interfere with the crypto process in the blockchain and no one can do that.

I wonder what will happen to crypto in that country if they really want to move towards a crypto crackdown because crypto already grows. I hope that everything will be okay and not making a new problem for that country. If the government wants to make new regulations, I hope that they will not be too strict.

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This are challenges to the growth of bitcoin,still bitcoin will grow to unexpected results.
One shouldn't be much worried about this, although all of this moves by government retards the growth of bitcoin, deceleration of the bitcoin Price likewise.
Bitcoin is evolving, it's trending, government should simply adapt to this rather than push them too far.

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I do not think it will be possible for any government to plan a crypto crackdown. As bitcoin is based on blockchain technology, it nullifies all oversight from any central authority. It is beyond the scope of any government to control or manipulate the mining of bitcoin. It won’t be possible for them to plan any crackdown.

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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.

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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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.

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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!

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.
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.

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Quote from: blackened515 on November 27, 2021, 02:02:25 AM

Quote from: Victorik on November 25, 2021, 01:52:20 PM

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.

If only the government is friendly to crypto, then we can live without personal attacks for crypto and all this plans for crypto crackdown. Yes, the government is always capable to create plans just to put and end for crypto but in the real sense, the more we ban crypto, the more it gets closer to the people. I agree that this is the reason why the government is totally against on crypto because no matter how many threats they have for crypto, until now crypto is still fighting for its decentralization. And there's no way we can control such a decentralized crypto because it will always move to reach its goal no matter how the government reacts on it. So better for the government to embrace it than keeping it rejected.

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Quote from: hugeblack on November 25, 2021, 09:48:43 AM

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.

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.

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Quote from: Victorik on November 25, 2021, 01:52:20 PM

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

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.

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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.

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Quote from: Obito on November 26, 2021, 06:52:06 AM

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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

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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.

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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.

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Quote from: tippytoes on November 25, 2021, 06:59:16 PM

Quote from: dothebeats on November 25, 2021, 04:34:52 PM

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.

Hopefully, the government will not ban or prohibit crypto instead give a free to their people so their people do not have to worry if they are breaking the rules. Maybe they can crack down on crypto but not forever. As long as the internet will still operate in that country, crypto will continue to reach more people from that country. I think the ban is only temporary because after the government sees how they can benefit from crypto and get more taxes from the crypto user, they will release the banning and allow their people to use crypto as before.

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

They've been trying their best to sabotage the success of bitcoin but their plan has not been successful since then. I think they just made some kind of noise to stop the advancement of its price next year which cannot be stopped by them if people only saw the positive fact far from their claim. They already tried to link crypto mining to one of the causes of global warming. Now they try their best to make it worse by claiming to make some so-called surveillance which they already have the answers on their notes.

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Quote from: tippytoes on November 25, 2021, 06:59:16 PM

Quote from: dothebeats on November 25, 2021, 04:34:52 PM

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.

China is well known for taking crackdowns on cryptocurrencies most of the time, so they are among the countries that ban Bitcoin the most.
Because the Chinese government considers Bitcoin a threat to the digital Yuan, but everyone knows the effect is only temporary. Because Bitcoin
will continue to grow and the price of Bitcoin will continue to rise, so if there is news that says some country is planning to act decisively on crypto,
no need to worry and panic. Because I believe there will always be other countries supporting crypto, however it is very difficult to get everyone
to support Bitcoin. No matter how good Bitcoin is, there will always be Bitcoin haters. Let it be for the country that decides to ban Bitcoin, will regret
later to see Bitcoin growing rapidly. Eventually they will realize they decision was wrong, and could soon change their minds to support Bitcoin.

tippytoes

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Quote from: dothebeats on November 25, 2021, 04:34:52 PM

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.

Hydrogen

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It is possible that a crypto crackdown might be accompanied by central banks deploying their CBDCS (central bank issued digital currencies). Who can say for certain what the future holds.

One defense is to encourage mass adoption of cryptocurrencies. The more support BTC and crypto have, the harder it will be for crackdowns to be accepted. If banks were deemed too big to fail in 2008. Cryptocurrencies might survive by becoming too big to fail on their own merits. Bitcoin's trillion dollar market cap is definitely a step in the right direction.

Another defense is people making more of an effort to understand how finance and the economy function. Becoming financially literate is the best way people can protect themselves from being scammed.

It could also be a good policy to prepare alternatives in case crypto bans are someday pushed through. A barter system could be one option. If its not, hopefully someone smarter than I am will come up with a better idea.

Ryker1

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

Well criminalizing mining should be stopped because they are most likely stealing or prohibited in a country just to make a profit in mining. It should be eco-friendly mining that does not have any damage. I don't think this will have an effect and should be worried, crypto enthusiasts know that it is hard to crack down on bitcoin, bitcoin will go the price up depending on the demand and supply. We have been facing different struggles on bitcoin and I dont think this should be worried if we compared before.

dunfida

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

They had been doing this silently and only a few things had just popped out that they a re cracking into something specially on this crypto space.

Is this something surprising?No its not because it would really be just a normal act to be done by government on anything which is out of their scope
that moving out freely which is understandable.

As a cryptoenthusiast should you be worried? I dont think so.

eaLiTy

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

We should expect that the government authorities will be monitoring the blockchain activities and anyone doing any illicit activities will be caught in the near future, if you look back you will understand how many BTCitcoin were recovered from criminals by various government authorities in the past 8 years and how many BTCitcoins were auctions by the authorities.

Blockchain is a honest ledger and expect more surveillance and crackdowns in the future and there is nothing you should worry unless you are involved in criminal activities Wink

. Not sure about countries criminalizing mining though as it is not even a smart move by any government. I expect regulations rather than a blanket ban.

dothebeats

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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.

livingfree

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

No.

We don't have to worry about those. It's like there's this negative news and eventually, good news would come. I would be worried if I'm in those countries that are showing red signals for crypto.

But since I'm not, I'm cool and neutral with those. We shouldn't really be worrying with those because they've been cracking cryptos years ago.

aoluain

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The general consensus of the experienced members on the forum is that this
is nothing new and generally it will continue.

I'm not reading the articles but in terms of the headlines:

Quote

Are surveillance and taxation coming soon to a blockchain near you?

Yes is the answer, while the Bitcoin blockchain, protocol and code etc. are safe, decentralised
and independent of any single controling entity, governments can control the entry and exit points (to a degree)

Quote

Sweden is Calling for EU to Ban Cryptocurrency Mining to Meet Climate Goals

There are way more harmful industries which could be banned before Bitcoin but too
many governments overlook them to protect their business interests.

LFC_Bitcoin

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Resistance is futile, don’t worry about it. Pretty much all national fiat currencies are going to 0. They will hage no choice but to take a knee & cuck to King BTC. It’s just a matter of time.

Fortify

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

The news does tend to be trending this way at the moment and it can become a self fulfilling prophecy. China was always shady about crypto, just like everything else, and nobody should have expected them to allow it over the long term - they just wanted to cash generated by miners via dirty fuels. However India is another huge population that may soon be banned from owning any crypto apart from the government sponsored one and if Sweden keeps pushing the environmental side then it could attract other EU governments to act against Bitcoin and others. Once we start seeing multiple countries come out with bans, it will become a lot easier for others to stop their citizens owning it (at least via legalized exchanges) in future. It seems like many politicians are seeing it as an easy target right now and that could be quite dangerous for holders.

Victorik

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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.

Kakmakr

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Governments have been cracking down on Crypto currencies since New York introduced the BitLicense back in 2014. They just have to have control over everything people do and what they own, so this will never stop. We have seen the totalitarian tendencies from the so-called democratic governments during the Covid epidemic, like Australia and the USA... and this is just going to get worst. Angry

So, when governments say they care about the people and they want to protect them, then you should be worried. They will start using scare tactics like "Bitcoin is used to fund terrorism and/or Crypto currencies are linked to Child pornography etc.." to get an excuse to ban it or to over regulate it. Roll Eyes

stompix

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

Other countries such as Sweeden are showing signs of moving towards a crypto crackdown by criminalising mining.

Quote from: Baofeng on November 25, 2021, 10:04:13 AM

We've seen this crackdown for many years now, specially after a massive bull run in 2017. And then not just governments, but G7 countries and other world financial governing bodies are coming after bitcoin and crypto in general.

Can you please say which of the G7 has come after crypto?
Japan, one of the first countries legalizing it as a payment method, Germany which has kept bitcoin sales tax-free if holding it for 1 year and allowed financial institutions to keep money in BTC, the United States who leads in every possible number from ATMs to nodes to companies to mining now?
Where is this war on crypto happening in the western world cause I must be living under a rock or something.

Leviathan.007

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I'm not sure but in my idea bitcoin was not created to be government-friendly it's created to bring us economic freedom and the economic freedom is against what usually a governments want, no matter if we are talking about America or China all the governments will usually try to somehow get control and monitor over people funds for any purposes such as illegal deals and tax-related stuff and that's why it's normal to see some governments are against bitcoin and crypto.

avikz

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

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?

Expect more and more countries to join the bandwagon. Because the increased userbase is actually making the governments worried due to its decentralized nature. People can effectively bypass the taxes using cryptos. They can send any amount of money to anyone without revealing the identity of both parties. There are multiple reasons why a government ahould be worried about cryptos.

So I foresee that more countries will come up with crypto surveillance plans in the near future. Also please expect heavier regulations. We can't stop this from happening!

NeuroticFish

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Quote from: Blawpaw on November 25, 2021, 08:04:24 AM

Should we be worried about this?

While increasing surveillance, regulation and obviously taxing crypto are absolutely normal/expected directions for governments, I don't see anything worrisome in their actions. I mean why would they create elaborated laws and tax for it if they would plan to ban it?!

And the declarations about mining are just politics. They want to temporary distract the plebs from the energy problems their politics have created and found Bitcoin an easy target. The energy crisis can't last too long, else they'll lose var too many votes, and when that's gone nobody will care about Bitcoin mining. The only problem there is that the price rise may render it unprofitable.

OcTradism

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They can do it but the world nowadays are opened and in globalization process.

So if one nation bans Bitcoin mining, other nations can allow it. If they see benefit from Bitcoin mining and other activities from crypto industry, they will not close it by banning it.

Therefore, when a gate is closed (ban, crackdown), other gates might open for the industry. China bans Bitcoin or crypto, India moves next, ok fine, we already have El Salvador with Bitcoin Legal tender, Bitcoin City. After El Salvador, we might see more nations follow in the same way.

Baofeng

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We've seen this crackdown for many years now, specially after a massive bull run in 2017. And then not just governments, but G7 countries and other world financial governing bodies are coming after bitcoin and crypto in general.

But so far nothing has change, crypto continue to grow and we have adoption increasing every year. So I don't think that we should be worried with this kind of news, crypto will continue to thrive and will probably meet in the middle grounds.

mk4

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Quick tip: expect government crackdowns in different shapes and forms; hence, probably expect this to be a bumpy ride(though you probably already know this by now). If negative news gets you worried, probably decrease your BTC allocation a bit.

hugeblack

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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.

hyudien

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Personally, I wouldn't worry, because they often use this as a stepping stone to fake crypto market conditions, but from a financial perspective, of course, we should be able to follow what the United States is doing with crypto values? while some information that the United States is preparing to withdraw the dollar from circulation until the middle of 2022. This has led to speculators that the big impact will be on the decline in prices during the face of a bear market.

Back to the issue of a crackdown on crypto? Is it possible for crypto flows to be blocked / I don't think it will work, in fact crypto flows are increasingly unstoppable, even the role of the government will ultimately follow how the blockchain implementation system helps them in solving problems in managing modern financial management.

Blawpaw

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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?

Topic: Governments planning a Crypto Crackdown? (Read 605 times)