IS THERE A CHANCE THAT BTC WILL BE CONTROLLED BY THE GOVERNMENT?

speem28

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Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

It is really hard to predict if that mass adoption of bitcoin will happen,but I guess that if it would ever happen our local currencies will remain the same but bitcoin will be frequently use too, considering that its price volatility will be solved. I can't even imagine the government taking control of bitcoin, I mean they had been trying for years but it got them nowhere. They are just making all sorts of restrictions in bitcoin because of that.

777Bitcoin

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I don't think so, government can regulate maybe but to control bitcoin sounds impossible to me.
And its not good for us either, it would be dissaster to bitcoin users and bitcoin currency itself.

AK47-

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Quote from: xuan87 on July 23, 2017, 07:25:44 PM

The government only can control the exchanger or any access to the wallet website, since Bitcoin is hard to tracked, the government won't be able to control bitcoin, the government only can make regulation and give punishment to the one that violated the rules, but to control Bitcoin is impossible, Bitcoin belong to all of us, nobody can control Bitcoin

This is the beauty of Bitcoin. It has given control to people over their money. All what government can do is regulate exchanges or put some tax regulations on Bitcoin. But something which is completely based on internet is still hard to regulate. There are many ways people are escaping those regulations. This is what Bitcoin was invented for. A freedom from centralised monetary system.

xuan87

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The government only can control the exchanger or any access to the wallet website, since Bitcoin is hard to tracked, the government won't be able to control bitcoin, the government only can make regulation and give punishment to the one that violated the rules, but to control Bitcoin is impossible, Bitcoin belong to all of us, nobody can control Bitcoin

Pearls Before Swine

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Quote from: jorneyflair on July 19, 2017, 09:57:57 PM

Bitcoin will never be controlled by the government since they just don't have the tech.

Oooohh...I'm gonna have to go ahead and disagree with you there, sir. Governments have plenty of good tech, and they create the laws as well. So could bitcoin end up being controlled (or heavily regulated) by government? Yeah, I think so. Do I think that's going to happen? Probably not. But you see they shut down silk road, alphabay, and all these illegal markets. They can definitely have a powerful hand in all things bitcoin.

I do agree that because bitcoin is decentralized, it's difficult. But possible.

Quote from: cjmoles on July 23, 2017, 06:59:41 PM

We the people ARE the government.

Yeah, OK!

ice098

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Quote from: Mpamaegbu on July 23, 2017, 12:53:30 PM

If by control OP means regulation, then I should think that could be possible. However, if he refers to the absolute control of Bitcoin by the government I don't see that happening actually. In the first place you don't control what you don't understand or have a hold on. It's no gainsaying that the various governments of the world seem not to truly understand how Bitcoin works.

It doesnt happen i think. Bitcoin is anonymous they will not even hold it or controlled it. It is not possible for them to do that i think. Thats why we like bitcoins because of that thing.

cjmoles

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We the people ARE the government. Bitcoin is the people's currency! We decide it's fate....we can protect our interests in the blockchain or we can let others do that for us....it's our choice! If we lose control of the bitcoin protocol, we can always migrate to another chain....the blockchain decides now, not our appointed officials.

alani123

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There sure as hell is a chance that governments would be able to get a hold of Bitcoin markets and restriction their activities, perhaps control a substantial part of the hashrate too. But either would just be too costly for little to no long term result. I don't think k that there be much point in even trying.

stompix

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Quote from: Juggy777 on July 23, 2017, 07:15:39 AM

Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Why do you put two different questions first you question about the government then you question about the bank. Understand that government can't control it, they can only legalize it and charge tax over it and get rich, banks are adopting the technology and not the coin which is really stupid, but sooner or later they to will adopt the coins don't you worry. In case government requires you to declare coins do it as simple as that, don't hide it then, if they term it illegal sell it to someone who can buy and accept Fiat as simple as that.

Because he doesn't have a clue what he is asking.
Most people have no clue what the government does , what the parliament does , what a central bank is and what private banks are.
They just have the feeling there is somebody evil there who has one purpose in life to make him miserable.

Everywhere you look is the fear about the government!!!!

JNiks_ZLisa

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Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Not, BTC is international currency

Mpamaegbu

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If by control OP means regulation, then I should think that could be possible. However, if he refers to the absolute control of Bitcoin by the government I don't see that happening actually. In the first place you don't control what you don't understand or have a hold on. It's no gainsaying that the various governments of the world seem not to truly understand how Bitcoin works.

Juggy777

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Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Why do you put two different questions first you question about the government then you question about the bank. Understand that government can't control it, they can only legalize it and charge tax over it and get rich, banks are adopting the technology and not the coin which is really stupid, but sooner or later they to will adopt the coins don't you worry. In case government requires you to declare coins do it as simple as that, don't hide it then, if they term it illegal sell it to someone who can buy and accept Fiat as simple as that.

que91

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Quote from: basesaw on July 23, 2017, 06:52:21 AM

Quote from: Anno MMXVI on July 23, 2017, 05:36:45 AM

In fact, at the contrary of what some people usually say here, government, of any country, can control Bitcoin. For so, it simply needs to have a significant mining power, of at least ~65% of the total hashrate. Then, in the Bitmain way, they can enforce about anything they want.

Bitcoin is decentralized and I think government cant control bitcoin so just I think it will just an anrrangement with the bitcoin core and the government on how they can implement tax on bitcoin.

If the government interesting with cryptocurrency and Bitcoin, they can use technology blockchain from crypto world and creating their coin. Then, maybe they will release their coin with many function perfect and better than Bitcoin in that time, even need banned Bitcoin for helps attract investors Grin

basesaw

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Quote from: Anno MMXVI on July 23, 2017, 05:36:45 AM

In fact, at the contrary of what some people usually say here, government, of any country, can control Bitcoin. For so, it simply needs to have a significant mining power, of at least ~65% of the total hashrate. Then, in the Bitmain way, they can enforce about anything they want.

Bitcoin is decentralized and I think government cant control bitcoin so just I think it will just an anrrangement with the bitcoin core and the government on how they can implement tax on bitcoin.

qwertyup23

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Quote from: Sniper150 on July 23, 2017, 04:50:50 AM

Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Since, BTC is being popular in all countries it could either be a future cryptocurrency or still online technology that government dont care about this. Banks are existing before while BTC is not. I don't have much idea about those things before they exist. The only thing I know is that banks are there to serve people in a long transaction but they don't compete. They are just accepting money like our wallet.

Well, the government cannot be controlled by the government due to it being decentralized. But the only way that they can "CONTROL" it is by implementing laws regarding the regulation of it. The government can also impose tax whenever there is a transaction from converting it to fiat but they cannot fully control it. I disagree with you saying that the government does not care about bitcoin. Since this holds a large amount of conversion value, every country will exercise all the means to garner profit from it.

Anno MMXVI

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In fact, at the contrary of what some people usually say here, government, of any country, can control Bitcoin. For so, it simply needs to have a significant mining power, of at least ~65% of the total hashrate. Then, in the Bitmain way, they can enforce about anything they want.

Blitzboy

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LOL, there will be no way that the government can control bitcoin because the bitcoin blockchain provides each address a private key. As long as you still control your private key, you can control your bitcoin and wallet. Therefore, do not worry about this issue. They can never control any cryptocurrency unless they created their own crypto and control all the private key Cheesy

micher143

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Quote from: camsicuya on July 19, 2017, 09:50:27 PM

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

No one is controlling the the blockchain technology sa basically government will have only a way to go through the bitcoin is using and building a local exchange that the bitcoin will be able to exchange and it will be handle by the government. That is the most possible way but as a whole they cannot get it because the blockchain is controlled by people who are supporting it.

kryptqnick

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Quote from: joebrook on July 22, 2017, 08:20:52 PM

I don't see how the government will be able to control bitcoins since it's decentralized, they may be able to regulate how bitcoins is used to do transactions but there is no way they can fully control it .

Yes, I agree bitcoin can't b controlled. Some government has to spend the money they don't have to really make a difference. However, the same doesn't hold for altcoins. I heard about the projects of developing local governmental currencies. Another thing is that the government can buy a lot of some cheap currency with low marketcap and keep it a secret. Thus they will be able to control it.

Amph

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how is a single government going to contorl bitcoin exactly? you know it's decentralized, the only way would be via mining but they need to seize all the farm around the word and especially those that belong to china, so to another government

assuming we are talking about the USA government, i think they can't do shit, for obvious reasons, another story would be if all the government work together to control bitcoin...

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