IS THERE A CHANCE THAT BTC WILL BE CONTROLLED BY THE GOVERNMENT? - page 2.

Sniper150

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Quote from: camsicuya on July 19, 2017, 08:50:27 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.

CheapVccSeller

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They can control the market easily but they wouldn't be able to control the whole currency as a whole

JoMarrah Iarim Dan

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Quote from: camsicuya on July 19, 2017, 08:50:27 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!

Well, as far as I know no one can have the right to control bitcoin even the government cannot control it. No body can access the master key of the bitcoin. A lot of legendary member and hero member in bitcoin. They are the people who knows the bitcoin very well. They spent so many times in bitcoin and I think any of them has no access to this key.

oegarod

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Once China with its majority users and miners had been trying to have control over bitcoin. Later this got out of control, when the inspection took place over the entire exchanges and the fake volume issue was identified. I don't think that bitcoin will be controlled by any of the governments in the upcoming years.

RedX

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Quote from: joebrook on July 22, 2017, 07:20:52 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 .

Right. They can regulate it if they want. I hope the government won't discover or make an alternative way so they can somehow control bitcoin. Because nothing is perfect even if said that bitcoin can't be controlled but we still aren't sure about that. They might find a way and let's hope it won't happen.

sammrheza

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nooooooooo , id government take control it will be disastah , they will do many manipulating , its better now , bitcoin give many poor people become rich , if government take , they will make themselves rich without think about their people , this happen in every country .........
this is way to freedom for us

cjmoles

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Well, it really depends on which definition of "government" we choose for our argument. But, there is no doubt, in my mind, that currencies are going to be universally digital in the future and the only question that remains is how will that currency be governed. I think that some of the growing pains we are experiencing now, within the blockchain protocols, concerning how the currencies are governed, will be reflected in the future governance of our digital networks. I think that the blockchain technologies will have more of an influence on how we shape our governments than how our governments might impact our currencies. I think that the worm has turned and we are witnessing a major shift in the way we interact socially, politically, AND economically.

lighpulsar07

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No. The Government can't control bitcoin because the blockchain itself it can't controlled by everyone even the government itself although the government can use its power to control the users and exchanges by regulating it how? the by putting identity verification as a requirement in order to receive your money.

deadsilent

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No... Because of it's technology. The blockchain. It can't control by anything or by anyone. But governments can manipulate it to regulate bitcoin. But they can't do it directly to bitcoin but they can manipulate the users of it. They can just ban bitcoin to avoid the usage of it. I have read about people who put into jail because of using bitcoin which banned from that country. Other countries have been threatened about the growth of this technology. So they delivering warning or FUD to make users panic. But still, bitcoin is just too strong

Despacito

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Quote from: camsicuya on July 19, 2017, 08:50:27 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!

If you're askin specificly for bitcoin, the answer is NO. Bitcoin can't be controlled by any government or official institution because it's just not possible. Bitcoin is an anonym asset that won't go under control of any group.

AK47-

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Bitcoin is impossible to be controlled by government. We trust Blockchain technology for a reason. Even if they somehow get control of Bitcoin. People will abandon Bitcoin. The reason they trust Bitcoin is for its Decentralised and anonymous nature. In the hands of government both of these feature will came to halt leaving it not so different than fiat.

Yuhee

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Quote from: senin on July 22, 2017, 06:57:23 PM

Digital crypto currency, bitcoin including, are designed in such a way that completely exclude the possibility of its control by any government. So this is technically impossible. If this happens in some unintelligible way, then it will no longer be a crypto currency in the sense in which it was planned and developed.

Yap and unless a government has a puppet hacker then somehow it could be managed having all the bitcoin in one control is just impossible. It is worldwide and most costumers are anonymous. Rare only that people would reveal who they like some CEO's. Maybe the bitcoin is a government itself but with different hierarchy of power.

joebrook

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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 .

senin

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Digital crypto currency, bitcoin including, are designed in such a way that completely exclude the possibility of its control by any government. So this is technically impossible. If this happens in some unintelligible way, then it will no longer be a crypto currency in the sense in which it was planned and developed.

Russlenat

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Quote from: Kakmakr on July 20, 2017, 12:59:11 AM

How do you control a decentralized network that are running on 1000's of computers in different countries? If the government somehow takes control over the development and people know about this, then they will simply not run the government code on their computers or they will hardfork and create their own coin. We could even move over to a Alt coin like LiteCoin, if they sabotage Bitcoin. Crypto Currencies are here to stay, if they want it or not. ^hmmmmmmm^

If they ban it, we will go underground with it. ^smile^

Yeah you right! bitcoin can never be controlled by the government and it is difficult for them to control the decentralized network all over the world. Government can only regulate or make guidelines for bitcoin exchanges operating in there country.

Kakmakr

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How do you control a decentralized network that are running on 1000's of computers in different countries? If the government somehow takes control over the development and people know about this, then they will simply not run the government code on their computers or they will hardfork and create their own coin. We could even move over to a Alt coin like LiteCoin, if they sabotage Bitcoin. Crypto Currencies are here to stay, if they want it or not. ^hmmmmmmm^

If they ban it, we will go underground with it. ^smile^

Pakboy

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Quote from: camsicuya on July 19, 2017, 08:50:27 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!

I think the government will never control the bitcoin. For sure many people will disagree if the government will control the bitcoin.

ubercool

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The answer is simple, NO. The governments and the banks will never agree to use Bitcoins as a medium of currency. Because they dont want something which is not in control of their hands. Bitcoin is volatile and Banks dont want to risk their money, why should they trust cryptocurrencies which cannot be controlled. Huh

freedomno1

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Learning the troll avoidance button :)

No they would need to buy a staggering amount of hardware to control it.
They may be able to hold ownership over a significant amount of coins but not have the ability to control it.
(At that point though they have a strong economic incentive to keep the status quo)

ladydark

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Quote from: camsicuya on July 19, 2017, 08:50:27 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,since bitcoin is a decentralized currency,governments or no others could control bitcoin.Only thing they could do is that they could regulate usage of bitcoins in their countries by passing new laws making exchanges to provide details of bitcoin holders and their trades.

Topic: IS THERE A CHANCE THAT BTC WILL BE CONTROLLED BY THE GOVERNMENT? - page 2. (Read 1687 times)