Topic: If you were the government, how would you fight against bitcoin? - page 2. (Read 953 times)

No country can be called a full democracy, if it is called a full democracy, there will be no laws and regulations. Cannabis is banned because it's addictive and creates social ills, but if it were legal, the government wouldn't be affected too much. But if this is the case with bitcoin, bitcoin is not addictive but will seriously affect the power of the government, so they can still take drastic measures to crack down on bitcoin.

I still believe the government can ban bitcoin altogether, but if they do, it won't be in their favor either. Instead of banning, they can regulate and control us through regulations and taxes, precisely what they want more than ever.

yeah like that.
And actually if there is any government Efforts that are hostile to Bitcoin and make things difficult for all bitcoin users. I think the government is just a waste of time. Because they have to realize that they cannot control Bitcoin. Because everyone naturally has the instinct of a sense of freedom. Everyone doesn't want to be restrained. and included in the problem of the financial system. that's what makes bitcoin and crypto users always strong.
because the presence of Bitcoin has in fact become an option for those of us who like freedom and don't want to always be controlled by a centralized system.

Maybe for developed countries that are currently controlling world finances that are centralized, they must be disturbed by the presence of Bitcoin. So it's not surprising that they are trying to make FUD about bitcoin. But for developing countries and countries that are experiencing a financial crisis that continues to decline due to inflation, in fact Bitcoin has become a solution. Like the Central African Republic. And for countries that don't have their own currency like El Salvador, bitcoin has become a good choice to serve as a payment option in that country.

So instead of strictly prohibiting it, I think the government is better off making policies to supervise and provide security for its citizens, such as making tax policies. so that governments and their citizens who use bitcoin can both benefit from it.
and that's what I would do if I became a government.

And now more and more Governments in a country are doing this.

as the latest is the passage of the crypto bill in Brazil. and it looks like this bill will be submitted to President Jair Bolsonaro for approval before his term ends on December 31.

And if the bill is passed. then the impact I think will be bigger than El salvador. because Brazil is a country that is pretty much eyed by many countries. so it is possible that more countries will follow Brazil in terms of the policy on the crypto bill.
namely the bill, which aims to provide oversight of the cryptocurrency sector in the country.
see more at Sourch : Brazil’s Congress Passes Bill Legalizing Bitcoin, Ether Payments

So far there has been no case where someone possessing bitcoin was arrested for violating government regulations against it. I'm not sure there's a country that 100% prohibits its citizens from owning bitcoin other than China, but I don't think China can even ban fully decentralized P2P commerce.

As far as I know, there are not very strict regulations regarding bitcoin users yet, but if there are then surely they are committing other violations such as money laundering or other illegal acts. In the end it is true, regulating and centralizing bitcoin users is still better than banning bitcoin 100%. However, the government has its own will to regulate and make rules.

That sounds pretty harsh and I wonder if this could be accepted in a fully democratic country. In western nations cannabis is getting legalised, so people getting caught with larger amounts are not facing any prison time anymore. Which would be crazy if then people who own BTC are getting arrested instead. Owning BTC alone should not be a punishable offence, only if the BTC are being used for illegal activities. In my opinion banning crypto currencies outright is never a good solution and will only move BTC transaction out of the government reach. A ban one something never works 100%, there will be loopholes. If I were in charge than I would use taxation as my main tool to control the use of crypto currencies in my country. If the government really wants to reduce the use of cryptos, than increasing taxation would be one option. Like this the government will actually profit of the use of cryptos and still gives it's citizens the option to choose which type of currency they want to use. 

If governments really want to ban bitcoin, they just need to band together, ban all miners, trade and be ready to jail life in prison if someone tries to violate it, bitcoin will die instantly at at that moment. There are ways for the government to ban bitcoin but the problem is that banning bitcoin is not in their favor either. Instead of ban, they will impose regulation and they will be able to tax us, which gives them more benefits than a ban.

It possible to control bitcoin if the government kill all the citizens in the country and if not it is impossible for the government to control bitcoin because bitcoin is out of government control and if banks are not allowed to receive bitcoin, bitcoin can still be traded by peer to peer which the government will not even know when the transaction would take place. The only way bitcoin can be controlled is when the authorities have an access to the individual wallet like Fiat banks if not it is not possible.

things like that won't really have an impact on bitcoin users, because if the government can make rules like that, on what basis? Where's wrong with bitcoin?

maybe because bitcoin is not legal in countries that make regulations like that.
bitcoin users must still be able to defend themselves, because adopting bitcoin is not a crime, in fact many people have become millionaires and billionaires through bitcoin.

the government should even be grateful to bitcoin, because it can reduce unemployment, and create jobs for many people.

the point is the government has not been able to think in that direction.

if the globalists carry out their great reset & KYC the internet so you need a government ID to login - that could work for a while

it will only go for as long as people comply with it though & there will probably be black market routes to get online

they can regulate & surveillance it to no end but again that comes down to compliance, & enforcing it will be very costly & time consuming. also privacy tools are only getting better.

they could ban self custody & try to confiscate from citizens - however extorting 12/24 words from people will prove difficult

they could try attack the network/make some change in code. would be very expensive & probably achieve nothing. 2017 block wars is a testament to this. the people (nodes) defended the network against corporations.

at the end of the day, there's nothing criminal about Bitcoin. the right thing to do is stop complying with criminals. fiat has enslaved humanity for too long.

Even if you make bitcoin illegal, it does not guarantee that people will stop from buying or using it. Although some may develop fear, but I think that’s only for those who are beginners in bitcoin, those who have been hodling or using bitcoin for long term will not be threaten anymore. Unless if you have control on the internet connection and shut it down like months, bitcoin will never exist anymore. But it will also affect the traditional money as well.

Not me. Governments worldwide. The intention of governments is not to help people. It is to control people.
Real power is not in the hands of politicians. It is in the hands of central banks who control the supply of currency, who devalue currency so they can destroy purchasing power of the people. Who indebt nations so they control nations and gain geopolitical power (look what China is doing in Africa)

Bitcoin is a threat to the hegemony of central banks. It makes them lose all control.
Which is a great thing, but which is also the reason why governments fight back against crypto.

For crypto to thrive, its holders must understand how governments will fight against it (media campaign, mining ban, collapsing exchanges, prison sentences for holders..).
Just like any football team needs to understand how the opponent will attack.

They can't win or completely eliminate bitcoin but don't try to provoke or confront them, it's not in our favor either. In the worst case, the governments get together and put in place a total ban, that would be big trouble for us. As long as you still live under their control, don't expect anything to help you against them or bring you absolute freedom.

If you don't expect them to control it, don't expect them to protect you from manipulation or fraud, hold yourself accountable for your actions.

The government can't win against Bitcoin, because Bitcoin was built to be bulletproof of whatever the government has to throw at Bitcoin. The fact that Bitcoin is decentralized means all the attempt to regulate Bitcoin will fail. The government can try regulating all centralized exchange so they can be ahead with monitoring of transaction but those who transact P2P won't be monitored.

The government should give up in trying to control Bitcoin and embrace the fact that they can't control Bitcoin and see how they can work things out so the market is protected from manipulation and become more secure so more and more companies can enter into the market which will be more portable to them through taxation of the exchanges.

The thing is I would never try to fight against bitcoin because I see no reason for fighting with something which can make me rich and help my people so instead of fighting agasint it I wwould try to accpet it and take a an step for adoption of bitoin in my country while if I wanted to fiht agasint it I would try to take control over internet and try to track any back transaction or my people which is what they do in china howver they are not compely suvsfull about it.

I wouldn't, in fact I would focus on how I could control it instead of ban it. This way I would promote all of my citizens to use it as much as they can for their foreign works, and then tax them in crypto when they do a business and create a treasury just for bitcoin.

This means, we are not going to charge people for trading income or loss, we are just going to charge them for the transactions they make, even if we do just 1%, that would be huge for most nations, 1% on all crypto they get to their accounts. They may hide it, that's the problem, if they don't, even 0.1% tax would be awesome, and put that in the treasury and in a decade or two we would have hundreds of billions of dollars in bitcoin.

The government can never stop and kill Bitcoin but it can make things around Bitcoin so difficult...just like what the China did and can be doing. Usually, only a regime which is authoritarian can do so if there is any country banning Bitcoin it could mean that its leader or leaders can be concentrating power on themselves and can soon be dictators on their own. In a democratic setting, there is no big reason why Bitcoin should be banned and must even be encouraged to survive and flourish. When you have a good level of control with the population, you are just going to say this and that - and am sure majority of the people will be following your wishes and command.

It's hard to think that way but maybe if someone that was thinking the opposite as what the developers been thinking that's how they would do it. And I think Satoshi already think that way or maybe someone gave him the idea that's why Bitcoin has been created that way as a decentralized crypto currency.

Most of the government that are against Bitcoin was against from people who buy/trade Bitcoin because they think it will hinder them from growing their country's economy but I think the truth is if they can't control who's using Bitcoin their economy such as monopoly business will be countered. And also, money laundering is what they are against too and protecting some people from scam. That's why they pushed the regulation to each exchanges that already exist.

Why you try to ban a something beneficial to your people? If you see that bitcoin is helping people to change their lives and they get good money without boundaries or discrimination then I guess there's nothing wrong with it and this must be adopted. If they are worried about frauds or certain illegal activities happen and using this as glorious escape then make a law and reinforce this to eliminate or decrease such incident to protect the people which is using this option.

 Government need to think positive side since if they always think about fighting it for sure they can destroy life who's working legitimately on the industry and I bet many people are in legit space on bitcoin or crypto paying jobs.

This is because despite their propaganda and how powerful it can be they cannot deceive people forever, especially now when people are suffering through massive inflation and governments have no solution at hand they can offer, so in that scenario is natural for people to begin to look for answers by themselves, and they found out that bitcoin is a tool that could allow to them to avoid or at least reduce somewhat the impact that inflation has on their savings.
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While this sounds nice in theory, I do not believe this is true in real life.
I work, I have a masters degree, I pay my bills and I own a 70 000 savings account. So debt free.
However my savings account, getting eaten by inflation, is necessary in order to receive a mortgage plan for buying a home.
So I can't convert it to BTC. Banks want fiat money.

Also I can't convert my incoming salary to BTC as a hedge against inflation, because I need it for bills priced in fiat currency.
I think that investing in a life changing amount of BTC is only for the non working class, and for very early investors.

The entire working class is looking at a future in which we are paid in a depreciating currency. With inflation higher than 10% in the EU, we will lose half of our purchasing power in 5 years if this continues. And I believe it will.

I believe that in the opinion of the elites, we are too many on the planet. They depreciate our currencies on purpose, so that we can no longer pay and they have total control over us. By 2030 you will own nothing. That famous line of the World Economic Forum

Yes they can and some like the USA do collect their share of the revenue and accept its usage. It's called using/enforcing their current tax systems. The setup is no different than how they handle business that are cash based. Any busness that has income MUST report it no matter it being crypto or fiat. Same for individuals.

Every country's government is more concerned about cryptocurrency. They can not permit it to openly use on the other not able to collect revenue from it. Basically they try to keep the cryptocurrency under their control but they know that is not possible that is why they shows negative attitude towards Cryptocurrency.

They argue that since virtual currency is not issued by the legitimate authority of any country, there is no recognition of monetary claims against it. Transactions in virtual currencies can lead to money laundering and terrorist financing activities. Governments in various countries have identified transactions in virtual currencies online with anonymous or pseudonymous counter parties as violations of anti-money laundering and counter-terrorism financing laws.

In addition, governments of various countries have warned that customers transacting through online networks may face various risks, including potential financial and legal risks of virtual currencies.

Basically, If we can find a proper solution to these issues, there will be no more negative reactions to Bitcoin or Cryptocurrency. However, currently the government of different countries or their high ranking officials are trading in crypto confidentially. I think this is a positive aspect of Bitcoin or Cryptocurrency.