Topic: The power of digital money - page 2. (Read 641 times)

I wouldn't be so sure about that. Cryptocurrency as an ecosystem could just disappear in an instant. It would take the will of the powers that be. Another thing is that they have no such desire, because cryptocurrency brings them a very good income and they can safely hide their income from taxes. States and governments are not against cryptocurrencies, in principle. They are not fighting cryptocurrency as such. They are fighting against the use of cryptocurrency for illegal transactions. This is my opinion and may not coincide with the opinion of others.

You know this is so...because all the mentioned gold, currencies etc are all regulated assets and these are guided by stock exchange rules to be traded.


This is not a valid argument,  people have lived a good life through scamming & fraud and the perfect example is Hushpuppi and are we going to say just because it elevates one from poverty or any kind of impoverishment then govts should be all thumbs up with this..I don't think so!

Of course I bet this isn't what you meant but its relatable and governments at this point what everything regulated to support them.

As long as Bitcoin sits on a technology called the internet that we heavy rely on today, be it transportation, health, finance etc I don't think our governments have to power to stop btc and cryptos in general!

It is obvious that government will be hesitant at first.  Just imagine how many years it takes before Bitcoin become the concern of the government?  How many years it takes before the first government that accept it legal tender appear?

Bitcoin being a newly emerging industry and its decentralized nature make the government hesitant about it.


Bitcoin is dependent on its developer, miner, and community.  Any one of it missing will make Bitcoin collapse but surely Bitcoin is not dependent on the government.


Not only far but will also dominate the financial industry competing against the dollar as a widely used currency.


The government doesn't just act as centralized, they are centralized organization that has authority over a country, it is obvious that Bitcoin isn't centralized so there is no need for the government to consider it as decentralized because it is really a decentralized cryptocurrency.

It doesn't guarantee security if you don't have sufficient security knowledge.


Bitcoin depends on infrastructure: electricity, internet and activities: mining, and nodes. And actually the government can influence some of these components.

This requires some preparation, especially in terms of crime risk protection. Bitcoin cannot simply become a source of income without "business" activity, including deception.

Bitcoin is not dependent on anything, but I think if all governments accepted Bitcoin, Bitcoin could go far.  People consider cryptocurrency as one of the sources of income. Governments of every country act as a centralized organization and they consider Bitcoin as a decentralized cryptocurrency.Although some countries' governments have adopted Bitcoin, I think the development of those countries will increase.  Sending and receiving money is very fast as Bitcoin transactions are very easy.Digital money empowers individuals to access their money however they want.  Every country is going digital now, as well as digital currencies should be adopted by the government.

if you think about it, digital money sounds scary because you can lose it in seconds. But if they are not controlled by the banks but belong to you, it gets much safer and better.

I think crypto is the future of digital money. The fact that you can hold as much bitcoins as you want and withrow it in any country you want and no one can tell you nothing. It's crazy how easy and fast it got to send and receave money with BTC.

Digital money, also known as cryptocurrency, possesses the transformative power to revolutionize the way we transact and store value. It enables secure, peer-to-peer transactions without the need for intermediaries such as banks or government institutions. With its decentralized nature, digital money fosters financial inclusivity, granting access to individuals in underserved regions who lack traditional banking services. Additionally, its underlying technology, blockchain, ensures transparency and immutability, minimizing fraud and enhancing trust. Digital money has the potential to empower individuals, streamline global transactions, and drive economic growth in the digital age.

Maybe he means paper money or fiat as there is no such thing as paper bitcoin. There are some fan made physical bitcoin but they are like a coin. There is also a thing called paper wallet. Bitcoin does remain even if there is a ban because it is decentralized. Even if this planet earth explodes, bitcoin will still be safe and sound because it has a different habitat.

Yes, it is possible to bypass the restrictions made by our government but I think I am not brave enough to cross those lines. If it's possible for me to live and survive before the bitcoin came, I can be able to do that again without the help of it. If we are good citizen we must learn to obey rules.

I agree, I also believe that many governments bought bitcoin because no one doesn't want a lot of money. But they have to do their part, to counter the things that go against their centralization principles, they have to spread negative news about bitcoin in the media. But then they quietly buy bitcoins, and since bitcoins are anonymous, we won't be able to tell who is who. I wouldn't be surprised if when bitcoin hits $1 million, many countries will announce that they hold a lot of bitcoin.

That's because to own bitcoins, you don't need to have complicated numbers of requirements like when you are applying to open an account in a particular bank. there are lots of questions and interrogations as I had in one of the banks in our city. In the end, none of what I said mattered to them because they kept asking me for documentation which I cannot provide because I was just merely a student at the time and they didn't allow me to open an account. But when you want to have bitcoins, all you need is common sense and basic knowledge to store it and also you need to have knowledge on how to prevent yourself from getting hacked or scammed. That's why Bitcoin is a life saver and convenient compared to storing your money in the banks.

The fact that Bitcoin has survived and thrived over the past 14 years is clear evidence that it has become an integral part of the financial and business industries. The government can find ways to control and regulate the use of Bitcoin, but it cannot end its existence. If the government tries to block the operation of Bitcoin, users and investors will find ways to use the technology in informal markets. A digital asset that is decentralized and not regulated by any government in the world. It is very difficult for the government to interfere in Bitcoin operations because it is built on a decentralized model and strong encryption. Although some countries have introduced regulations and bans on the use of Bitcoin, it is not possible to stop all its users and transactions globally.

So, there is reason to believe that Bitcoin will continue to exist and thrive in the future with or without government intervention.

Bitcoin will stay alive if people keep using it, many people bought Bitcoin because they already see Bitcoin potential as an asset. The government quietly bought Bitcoin because they see it too and they bought it at a big amount which they can pump and dump Bitcoin easily. Right now Bitcoin transaction fee is a problem that we should resolve since many people complain about the Bitcoin fees.

Those assets can easily be controlled by the government and they can monitor them which is why the governments didn't have any problem with them been traded online. Bitcoin is different, Bitcoin is decentralized which means the government can't control or regulate Bitcoin which becomes a problem for them and that's what they're not allowing Bitcoin to grow.

The government wants control and they'll only allow what they can control prosper like centralized digital currency and try to kill other's although all their attempts to kill Bitcoin has failed and that's why we're now seeing some government officials now accepting bitcoin.

The main problem is actually the government wants to act further to control and the concept of bitcoin is contrary to the system they implement. So this goes in opposite directions which in the end the two cannot unite and even though they are forced the two of them can only walk together not to replace each other. This concept has always been a concern for the government and they don't try to accept it with fluctuating reasons that could harm users. Even though if you look further, everyone is starting to feel comfortable with fluctuations and many people already understand how to minimize these risks independently.

This kind of concern has been going on for a long time and they tried to ban it with regulatory limits that were started to be made, but in the end the limits again did not make it a conceptual to ban bitcoin. Now we are no longer talking about opposition or prohibition against bitcoin, but how far bitcoin can provide a choice for people to be made as an alternative in the midst of increasingly depreciating fiat financial conditions.

There is no need to worry too much about that and if they wanted to they would have done a more challenging ban a long time ago, but in fact the ban also can't limit anything and instead bitcoin is experiencing such widespread adoption right now.

I agree with you, I also believe that although bitcoin is decentralized, no one can control it, but if many governments come together determined to destroy it, then I think bitcoin will hardly survive. Currently, the regulations have also made it difficult for us, let alone the government try to destroy us to the end. If they can't wholly destroy bitcoin, we will have a lot of trouble if the government really wants to ban it altogether. But fortunately, that will not happen as many countries have become more friendly with bitcoin and gradually accept it to a certain extent.

Small business is always in more danger now mater what is going on.

If the government bans bitcoin altogether, P2P will be the solution we will be looking for, and the government will know it too. My question is, can we use P2P smoothly and conveniently without the hassle of government bans? I don't think so, P2P also has certain risks if the government really wants to ban us completely. We can still use bitcoin even if we live in a banned country because they (the government) are not so oppressive to us. So don't look down on the government and get too confident that they won't do anything to us.

This is like asking why crypto is going up even though interest rates are also going up which is usually when interest rates are going up asset values are going down. that's the crypto world. For the reasons why you should invest in crypto, i.e. BTC and hold it always, it's hard to say very specific, but looking at the current conditions like the Inflation Hedge, they Whales Continue to Collect BTC for a Long Term for at least 1 year and finally, Crypto market now leaves only the strongest players, and no more significant bankruptcies like Celsius, Voyager and other incidents are expected. Yes. bitcoin will stay with us all.

Well to the best of my knowledge,  I think Bitcoin  has been thriving despite its rejection and strong fight against it by most of the leading countries like even the United  States  and yet it never died off.
Bitcoin  is already here to stay and I don't see it dying off anytime soon because  there are people and countries who are ready to give in their all to see Bitcoin  stand and I think Bitcoin  will do alot more better if it is globally accepted rather than been fought or kicked against by most of the leading countries.
So answering your questions  directly,  I think Bitcoin  will always stand whether the government  acceot it or not because it isn't controlled by the government.

Regardless of what they do whether it opposes or ultimately admits this is not going to make anything of the sort for Bitcoin actually because we know Bitcoin is an unrelated thing about it.
Precisely with the existence of Bitcoin at this time there will definitely be a certain dependency if the government adopts and acknowledges this. We know they are still trying to create some conditions where bitcoin is weak but it doesn't really have any impact and this is evidenced by us still holding on maybe even more people are currently in bitcoin.
There will definitely be some situations where the government poses this as a threat but they won't be able to do anything to stop bitcoins because they will continue to exist.