IS THERE A CHANCE THAT BTC WILL BE CONTROLLED BY THE GOVERNMENT? - page 3.

LouVandetta

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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!

I don't think that goverment could "controlled it".
Even tho goverment trying to find a way to make it in control, looks like it's still need lots of time.
It's not as simple as that. Bitcoin value is not affected by any activities by the goverment.

hatshepsut93

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Quote from: Wesimon on July 20, 2017, 01:08:15 AM

If bitcoin will become the world currency, the government will find a way to take control in the government. They wont allow bitcoin to get legalize unless they will not be the one to dominate it. But it far to happen yet.

It's pointless to openly control the Bitcoin network, because it will completely crash the price (unless it's your goal) and then users will just fork into new version that will be more resistant. So, Bitcoin can't really be taken over so blatantly, but governments may try to find some bugs that will allow them to trace transactions back to users more efficiently, reveal IP addresses, etc. But it's not very likely to happen, as Bitcoin exist for 8 years already and someone will probably have spotted such a major flaw already.

StevenRA

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I imagine that would be a serious issue of global stability even if it were technically feasible.
What could and presumably will happen is local governments regulating and taxing transactions made with cryptos, and some kind of international conventions addressing cryptocurrencies as they relate to global stability and international economics.

Wesimon

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https://gexcrypto.io

If bitcoin will become the world currency, the government will find a way to take control in the government. They wont allow bitcoin to get legalize unless they will not be the one to dominate it. But it far to happen yet.

pooya87

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being adopted by people or even becoming "currency of the world", and other things such as government regulations have nothing to do with "be controlled by the government".
setting up rules for how businesses use this currency called bitcoin or how people spend it there or taxes for investors in bitcoin does not mean government is controlling bitcoin. it means you live in a society and have to abide by the rules!

cafucafucafu

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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!

The only way for the government to control Bitcoin is to take control of the "master key" which may or may not even exist. No one has been able to hack into the blockchain and I doubt that in the near future they will be able to do that.

Even if the government could take control of Bitcoin, what would they even do? They won't be allowed to steal Bitcoin or shut it down since the entire world's market would be severely affected and they don't want to be responsible for that.

digaran

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🖤😏

Control what and how? if you want to be the one controlling a coin then you should have most of the supply plus hash power to enforce your own rules, whatever any government do they will have to follow the code, you as user need to read the code first before invest your money. and if first person comes here and says that a government blocked his transaction then the whole thing falls apart, Bitcoin is not like that fortunately thus far.

theinvestdude

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Bounty Manager For Hire!!

Acknowledge and Regulated is much more possible. The whole bitcoin ecosystem cannot be controlled by anyone.

SvenBomvolen

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

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!

You forgot about something, Bitcoin gives freedom to the people because of 2 things.

1. Bitcoin is decentralized, which means the price of Bitcoin is not affected by anything the government does.
2. No one has access to the Bitcoin master keys, which means no one can control everyone's bitcoin. There is also a high chance that there is no Bitcoin master key that exists.

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

That's right. The government can't take bitcoins control in it's hand, because of it's decentralized and nobody owns it actually, the identity of Satoshi is still not uncovered. The government may just regulate the use of bitcoin and crypto-currencies by legalizing or banning the use and that's the only thing they may do.

HabBear

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All countries acknowledge bitcoin.

Banks won't let Bitcoin keep them down. The investment banks are already invested and are starti g to build their own blockchains and such.

We should not wish for Bitcoin to replace fiat currency, doing so will drive the corrupt in to bring their greedy ways to bitcoin.

jorneyflair

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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!

You forgot about something, Bitcoin gives freedom to the people because of 2 things.

1. Bitcoin is decentralized, which means the price of Bitcoin is not affected by anything the government does.
2. No one has access to the Bitcoin master keys, which means no one can control everyone's bitcoin. There is also a high chance that there is no Bitcoin master key that exists.

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

CryptoBry

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I am confused with what you mean. I would assume that you are talking about the possibility that all fiat currencies in the whole world would be jumping into the cryptocurrency form. Now, in that case, I think that will never happen...there can be some who will try it but as to how successful it can be we don't know for sure. Will it affect Bitcoin in that scenario? No, it won't.

camsicuya

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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!

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