Am not sure how my reaction would be assuming am the government and have zero or little knowledge about btc and how it is changing lives, because now am btc user and I know and understand the importance. Most decisions taken by the government regarding btc are based on what they read or are told but not from experience as a user. Reason why some governments can make such strict rules as jail sentences for anyone caught dealing in btc.
If I were the government I would impose regulations on btc and crypto in other to ensure anyone who is interested in the currency will be protected, as a government, it is your duty to protect the citizens from any illegal or criminal activities. This is fairer than jail sentence.
Topic: If you were the government, how would you fight against bitcoin? - page 5. (Read 953 times)
November 28, 2022, 11:36:38 AM
November 28, 2022, 11:17:48 AM
Well, if I were in charged of the head of economics of my country, I would gladly accept and integrate cryptocurrencies to our financials due to its immense potential of growth. Some countries have already started to accept BTC as a means of payment to some services/products in the country.
But if I were tasked to remove cryptocurrencies and prohibit its usage in the country, then implementing laws against its use will do the trick. Imposing a penal sentence would also strengthen the policy against it, thereby removing it entirely from its usage in the country.
But if I were tasked to remove cryptocurrencies and prohibit its usage in the country, then implementing laws against its use will do the trick. Imposing a penal sentence would also strengthen the policy against it, thereby removing it entirely from its usage in the country.
November 28, 2022, 10:03:56 AM
If I'm the government, I wouldn't fight against Bitcoin since I'm the one who support Bitcoin to become legal tender! of course I will try to increase Bitcoin adoption followed with increasing of seminars, teaching about Bitcoin, force all marketplace to accept Bitcoin etc. It doesn't make any sense to fight against Bitcoin, if you want to combat against money launderers, it's impossible since they can also launder with fiat.
And that's also why all of us here will never be government officials or work in government. If accepting bitcoin, it's like the government is destroying itself because they can't control their own people. Government exists by centralization if you bring decentralization into it the government will disintegrate.
November 28, 2022, 09:33:06 AM
- Prison sentences for people getting caught owning BTC, trading it or selling goods in BTC. Penalties so severe that most people will back off. I often hear local media associate BTC holders with criminals and money launderers and expect governments to treat them as such. Local banks in my country can face penalties if crypto profits are transferred to a local bank account.
Prison sentence can discourage people from using bitcoins, but it will not stop bitcoin, because some people do not mind doing illegal things so it means it will still be an unsuccessful fight. In countries where their economy is bad and poverty level high, the fight will be more unsuccessful because people already see investing in bitcoins as a way to improve their living conditions, so they will not pay attention to the government. In countries where the economy is good and people living already fine, fighting against bitcoin can be successful because people will want to avoid prison sentence since they are already doing well. 
November 28, 2022, 05:37:37 AM
Honestly having used bitcoin myself and knowing how to keep my foot prints under the radar it would be difficult to catch crypto users, but the best approach would be to get undercover agents to infiltrate crypto markets and let the law take its course or have a some kind of whistle blower policy with handsome rewards upon conviction 
But the good part about this is that bitcoin is legal tender and non of this can be implemented 
But the good part about this is that bitcoin is legal tender and non of this can be implemented 
November 27, 2022, 11:36:56 PM
I've often heard that nothing can stop bitcoin.
Wrong assumption, bitcoin allows to be stopped.-snip-
- Prison sentences for people getting caught owning BTC
All crimes have the consequence of imprisonment, and that doesn't stop even the criminals.- Prison sentences for people getting caught owning BTC
-snip-
- Regulation for exchanges getting so tough that they can never comply
Instead of thinking about strict regulation, it would be better to ban it altogether. But DEX and p2p are still solutions.- Regulation for exchanges getting so tough that they can never comply
-snip-
- Liquidity crises of the exchanges.
Isn't thiss is not a form of rejection?- Liquidity crises of the exchanges.
So far I haven't thought of a plan to ban it even if I am the government, there is potential to increase the state's revenue, lol.
November 27, 2022, 11:34:17 PM
What's the need for a fight if government has the power whether to allow the usage of this technology or not? Bitcoin is being used as an option for mode of payment to some countries while in ither countries, I guess it is not prohibited but rather not supported. A manner of "use it if you want to but we're not in accountable for the risk". Regulation on the other hand remains the same. They could do it if they would want to as long as they would be able to track every transaction which I think would be only possible through third party wallets.
It seems that the government is still shy about cooperating with Cryptocurrency and adopting it as a mode of payment that can be legalized. I don't think Investors are fools if they feel cryptocurrencies are unreliable, even with the recent price drop although many people have left the market.
They are only into taxes. Also, there's no cooperation needed. They just need to find a way how will they control in and outs of cryptocurrencies from wallet to another. They've already tried third party apps but users in this industry are just not making use of it because of high fees. And they just cannot do anything about it at the present. November 27, 2022, 11:21:56 PM
When we weren't able to control something we'll try to regulate. This is how things used to get into regulation. In such a way I'll try to keep it regulated with certain limitations. We know there are possible ways to make use of it amidst the regulation. For now having control over the centralised cryptocurrency related service providers is the best choice. This could help in keeping things on track atleast to some 50%
How can they regulate it if they can't control it? They can't control btc, that is why they demand regulations on centralized crypto exchanges instead. Before we deal with cryptos or using a centralized exchange, it's important to check the status of cryptos first in our country if it's legal or not so that we can get ourselves out of trouble but there are still people who have a hard head and will continue to use a crypto. For them to not get caught out, they will just use a decentralized exchange.If let say I am a government I won't do any actions to fight against bitcoin but I will gladly legalized and make btc as a legal tender because I love btc.
November 27, 2022, 11:21:29 PM
If I'm the government, I wouldn't fight against Bitcoin since I'm the one who support Bitcoin to become legal tender! of course I will try to increase Bitcoin adoption followed with increasing of seminars, teaching about Bitcoin, force all marketplace to accept Bitcoin etc. It doesn't make any sense to fight against Bitcoin, if you want to combat against money launderers, it's impossible since they can also launder with fiat.
November 27, 2022, 11:21:17 PM
It seems that the government is still shy about cooperating with Cryptocurrency and adopting it as a mode of payment that can be legalized. I don't think Investors are fools if they feel cryptocurrencies are unreliable, even with the recent price drop although many people have left the market.
November 27, 2022, 10:43:52 PM
See how China did it…
Banning the exchanges from operating and mining would be enough to cripple crypto imo. Also jail anybody who sends money to a foreign exchange or withdraws from them.
Since most people can’t do these without having a legacy bank account, the government would easily catch the law breakers.
Banning the exchanges from operating and mining would be enough to cripple crypto imo. Also jail anybody who sends money to a foreign exchange or withdraws from them.
Since most people can’t do these without having a legacy bank account, the government would easily catch the law breakers.
November 27, 2022, 10:36:57 PM
I think, it will be difficult for government to stop Bitcoiners from Bitcoin in this level Bitcoin has gotten to in the global world, which many countries have heard or seen about the wonders Bitcoin is doing to such countries that made it legal. Is too late for any government to fight against Bitcoin, because without the government make it legal in the country bitcoiners can make use of Bitcoin like the way other countries that made it legalize are using it to do good things in the country. Now that many governments know that banning Bitcoin from a country is like working against the citizens progress in the country will not allow such government to carry out such operation in the country.
November 27, 2022, 10:24:41 PM
Actually, for me, the government will not fight bitcoin but instead use it as a source of state revenue.
legalize bitcoin as a legal investment tool and provide taxes to every holder and adopter or every transaction.
that way bitcoin can become very valuable for a country without having to fight its existence.
legalize bitcoin as a legal investment tool and provide taxes to every holder and adopter or every transaction.
that way bitcoin can become very valuable for a country without having to fight its existence.
November 27, 2022, 10:19:52 PM
I think there is no way to completely stop bitcoin. Look at what China has done with bitcoin, they have banned all things bitcoin related like mining, trading or holding all over their territory but as far as I know there is still a large part of Chinese people still using bitcoin. There are ways we can deal with those bans today. There is only one way that can stop bitcoin and that is to destroy the entire internet but of course that will never be possible.
And even that would not be enough, as eventually the governments will have to get the Internet back online and when they do it then bitcoin will be back as well, this is the power of decentralization, if bitcoin was like a bank and all the power was concentrated in a single centralized entity I have no doubts that bitcoin would be dead already, but since it is decentralized there is no way to kill it unless governments are willing to never use the Internet again. 
November 27, 2022, 10:17:37 PM
The best way to fight against Bitcoin is to shut down all Bitcoin mining farms and ASIC producers. Is it a possible task for government?
I believe they can do it with their power but I really think they don't have enough reasons to do that. It is also very hard to have a consensus amongst many governments at global scale. Bitcoin network is very big and decentralized so that it is more impossible to shut it down completely at global scale.
Bitcoin is a good successful pioneer for blockchain industry which is definitely a big invention in human civilization. Governments can not deny this invention, their citizens like it, the societies actually need blockchain technology and blockchain products to operate better, more efficient, with cheaper cost and more transparency.
To recap, I don't think governments will really fight against Bitcoin in future. They will allow Bitcoin and blockchain industry to grow more.
I believe they can do it with their power but I really think they don't have enough reasons to do that. It is also very hard to have a consensus amongst many governments at global scale. Bitcoin network is very big and decentralized so that it is more impossible to shut it down completely at global scale.
Bitcoin is a good successful pioneer for blockchain industry which is definitely a big invention in human civilization. Governments can not deny this invention, their citizens like it, the societies actually need blockchain technology and blockchain products to operate better, more efficient, with cheaper cost and more transparency.
To recap, I don't think governments will really fight against Bitcoin in future. They will allow Bitcoin and blockchain industry to grow more.
November 27, 2022, 10:16:11 PM
Fighting it?
If I were in charge, I would apply the saying: "if you can't beat them, join them".
I would suggest the central bank (which is supposedly independent of politics but we all know that in practice it doesn't work that way), that they would go mining like there is no tomorrow for HODL Bitcoin, in the same way that many central banks hold gold reserves.
If I were in charge, I would apply the saying: "if you can't beat them, join them".
I would suggest the central bank (which is supposedly independent of politics but we all know that in practice it doesn't work that way), that they would go mining like there is no tomorrow for HODL Bitcoin, in the same way that many central banks hold gold reserves.
November 27, 2022, 09:49:02 PM
For whatever reason I have no intention of banning bitcoin completely if I were the government. I can expect good profits from bitcoin by regulating and taxing every trading transaction on a centralized exchange. In fact, this way both the government and trader alike make a profit rather than total ban on bitcoin.
Here's one I thought about because bitcoin isn't really a threat to fiat. Instead of banning it and preventing people from trading and investing, it would be much more to regulate it. Many world governments regulate it, so things aren't too bad.
Here's one I thought about because bitcoin isn't really a threat to fiat. Instead of banning it and preventing people from trading and investing, it would be much more to regulate it. Many world governments regulate it, so things aren't too bad.
November 27, 2022, 09:42:29 PM
I think there is no way to completely stop bitcoin. Look at what China has done with bitcoin, they have banned all things bitcoin related like mining, trading or holding all over their territory but as far as I know there is still a large part of Chinese people still using bitcoin. There are ways we can deal with those bans today. There is only one way that can stop bitcoin and that is to destroy the entire internet but of course that will never be possible.
November 27, 2022, 09:40:45 PM
This is not a good question in this forum, as I am sure that they are really opposed to it. But so we can anticipate what the move from the government is, here are my thoughts on this. The government will levy massive taxes on bitcoin owners in the country that small time holders cannot afford, which will benefit the government because only the wealthiest and most eager to own bitcoin will pay taxes, potentially generating millions of dollars for other projects. That is only my thought, but the main reason they banned bitcoin was because it was used for illegal activities.
November 27, 2022, 08:13:35 PM
It can not be done globally.
But if they are up for it, every government I guess will need to crack down, illegalize and confiscate. It will be a fight that will take a very long time and they would have to include banks and institutions owning BTC. People resist everything that government deems illegal, if China hates BTC, its people will use BTC more for thier revolution.
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