Topic: The power of digital money (Read 629 times)

The concerns of governments regarding Bitcoin's cumulative value are understandable. The volatility and potential for illicit activities associated with cryptocurrencies have raised regulatory and security concerns. Governments strive to maintain stability in their economies and protect their citizens from potential risks.

The creation of Bitcoin was inspired by the goal of sending transaction that does not need a third-party financial system and the creator see that by using the power of the internet they will be able to do it.  Bitcoin is carefully planned and even takes the production of gold as a reference to how it will be mined.


I agree, Bitcoin is a very well thought idea, I believe the creator of Bitcoin is not concern about the recognition but rather on how to deliver their idea of peer to peer transaction regardless of location and does not need any intermediaries.

I don't think that it all started with a line of code in an old computer, no one can create something this significant and strong by just sitting on a computer and writing a few lines of code, to me, it seems that it was a vision that was thought about for a very long time and there was a lot of planning and brainstorming and creating ideas to create something that can be used as an alternative to traditional financial systems.

Whether there was a group behind the name, Satoshi, or an individual, the creation of Bitcoin was a very well-thought idea even if they didn't know if it will get the recognition it deserves, they always knew that they created something significantly great.

True that, I believe Bitcoin is not created to compete with fiat money but rather to avoid the use of intermediaries upon doing transactions.  I also think it is created to combat inflation, the reason why Bitcoin has limited supply, and to enable people who are unbanked to participate in the global economy, or economic inclusion and financial inclusion.


Bitcoin existence is dependent on its community.  Government regulation might have a huge impact on the adoption and market of Bitcoin but I do not think the government has the ability to stop the Bitcoin network.

The power of Bitcoin is more than the power of an electric fence or device's we all use in our various houses, why? Because if Bitcoin was mistakenly sent to an unknown Bitcoin wallet you can't get it back and this is the number one issues why some people refuses to invest in Bitcoin. I have a strong feeling that if Bitcoin was been controlled by the government some of us wouldn't have held the amount of Bitcoin we have today and it will only be use In some country and not all, just like the currency of Dollar ($) not every country use the dollar currency.
The way crude oil and gold was before it's not the same way today because Bitcoin has taken over the market.

How crude oil, Gold etc. are "digital" economic asset? These are physical assets isn't it? Bitcoin is a digital asset, even digital fiat in form of any bank account can't be considered a digital currency as per me.

You could argue that. but the main reason as to why these authorities aren't keen on allowing bitcoin to wander around their territories is because they can't control it. There are no ways for the government to track, detect, and apprehend people in the bitcoin network, and this is their main argument. You can also say that they don't want bitcoin to deface and dethrone their official currency due to the sheer amount of benefits it provides over fiat.

Plus you're right, not a lot of young people are that stoked about investing on gold anymore as they did in the past. I don't think it's good as gold is still one of the best investments one could make for themselves but at the same time you can't really blame them. Gold is gatekept by a lot of people, and as more people steer away from luxury like jewelries and fancy stuff, there's no surprise they'd divert their attention towards bitcoin.

BTC is not replacing fiat, don't wait for that to happen, BTC and fiat are both going to be used together and that's how the creator of BTC wanted it to be. BTC doesn't have to replace fiat before anyone uses it, it is even permissionless so you don't even need the permission of anybody to use it, you must accept that people would continue using fiat, but when they need a censorship resistant and permissionless currency, they will use BTC.

The power of digital money is essentially one of the advantages associated with various transactions of virtual currency. Using virtual currency a person can make financial transactions very quickly from anywhere anytime by connecting to a smartphone or internet device. This virtual currency is currently of immense importance in completing various necessary transactions including banking transactions. Using digital currency transaction system can eliminate the required system at low cost. Along with this, various bank branches use these digital transactions to reduce operational costs and these virtual currency transactions are very popular for various essential tasks. However, it must be remembered that doing virtual transactions involves risking various challenges. Along with various cyber security, cryptocurrency market has price volatility so virtual transactions should be done with that awareness.

This is clear as day that digital money has become increasingly popular due to its convenience, security, and lower transaction fees. It has advantages such as convenience, security, and lower transaction fees, but also risks such as cyber-attacks and fraud. It has potential to revolutionize the global economy. Regardless of fiat currency, the digital one going to more valuable and popular as an asset and for trading purpose so far. But, at the same time, being digital, there is an increasing emphasis on its business, some concerns are valid and some can be dismissed. In brief, regardless of crashing and buildup of BTC,digital currency has a value and you can not deny the importance.

LoL, yeah, but crash. I mean, I guess you should know I am referring to dying off or an absolute crash that leads to total disaster in a way that nothing can be done to bring it back. I don't just mean the price crash, like that of 2011 (Bitcoin fall by -99%). Someone made a topic here saying it's a Bitcoin obituary, but look at Bitcoin today, still waxing strong.

But anyways, your scenario is just what I am talking about: before bitcoin can fail to exist, the whole government and rulers of every country, city, community, and village will come together and host a meeting to agree that no one should be allowed to use bitcoin in those countries or villages. If not, nothing like that will happen. Bitcoin has experienced real downtime, but it still bounces back.

Check your lexicon as regard to the meaning of crash in the cryptocurrency vocabulary. Bitcoin crashes and has crashed so many times, but after each crash it still takes up to bull market.
Yea, since there is no central government in the world, the governments of the world would never agree and speak with one tongue. While the government of China bans bitcoin and bitcoin related activities, the government of the US will adopt bitcoin and verse vice.
And also, government as an entity might be against bitcoin but the individual persons that make up the government might be involved in bitcoin in one way or the other. So bitcoin will last as long as its chemistry permits.

Unless Bitcoin crashes, which is likely not possible. Bitcoin will live on, and as long as Bitcoin lives on, the government cannot be able to totally stop Bitcoin in every part of the world. For instance, the US government can decide to stop the usability of Bitcoin by citizens in their country, but they can't enforce such a law in other countries, and if the government in those countries is not against Bitcoin, users in that country will not be affected.

So, there is likely going to be some ban in other countries, but some countries will still greatly adopt it. For those countries that might place a ban on Bitcoin, most people will still be buying and holding it through some hidden measures. So, yes, Bitcoin will still stand. This issue of government and Bitcoin is just because they can't get their hands on it being centralized like their gold and crude oil trade.

Actually both crypto and fiat face similar problems now. Fiats have become digital, while crypto can be only in digital form. The main components for them to function is
1. Stable network of data processing mainframes (mining facilities in crypto and banking networks in fiats)
2. User-friendly interface (wallets for crypto and online banking services for fiats)
3. Support (branches and ATMs in fiat and support teams in crypto)
4. Privacy (multiple cryptography and decentralisation technologies)

So all the problems come from these things, and both fiat and crypto are continuously dealing with them.

Well, at the initial beginning, peeps probably did not believe that bitcoin would be what it is today and where it is today, for many, it is still a mystery, I personally believe that even satoshi himself or herself, or their group never expect the kind of success bitcoin have achieved, it all started with a line of code on probably an old computer, and in 2009, something was burn that would completely change the way the world see and value money, bitcoin has become a force that can't be reckoned with, the government probably have deviced several means they can get hold of bitcoin, but have discovered it's impossible to ever be controlled by a single entity..

Bitcoin any other cryptocurrency out there doesn't exist to alienate poverty. Its a hard condition to be in but, its a part of our society and has got its place in societal stratification. The cryptocurrency  operates merely as a transfer of wealth as it is used in payment for goods and services as well as traded in the crypto market. This implies an exchange of purchasing power as one is been debited to credit the other. Hence, while one gets more crypto asset, the other is losing some crypto asset as well. Now, there isn't any certainty that the rich are losing to the poor in an equilibrium state, but the poor can be the once making these loses and getting even poorer.

Crypto doesn't make you rich, nope. Your ideas and how your able to apply them in the field is what enrichess you.

And the proof that no government can make this market disappear, was when China banned the usage of crypto.
Considering its economic status in the world, it may have had a short impact in the crypto market.
But we have seen that crypto particularly bitcoin survived and up until now, people are using it.
They realize now that they won't be the reason for bitcoin to disappear, so right now, they are changing their stance again towards crypto.
We know fiat is still the preferred payment method, but let's be grateful that we have alternative option today, which is crypto.

As long as the government has the ability to control or manipulate something, they will have no issue regarding the usage of it. Because they want to keep us in the system, which is also called the matrix by many. Bitcoin in the source of freedom in this matrix. So there's no way that the higher powers will allow us so easily use it. This proposes a threat to their so-called "system". Those who are already out of the matrix will understand the value of bitcoin.
And to answer the last question, the government is incapable of doing anything to Bitcoin. It's totally decentralized and the creator himself is unknown. The success and failure of Bitcoin is in its user's hands. So the and is no. Bitcoin will not disappear that easily.

Of course, assets like gold and crude oil can be controlled more easily than bitcoin. Because they have existed for a long time and there are regulations made in accordance with them. As for bitcoin, due to its decentralized nature, it is not controlled by anyone. This is contrary to the way the government is doing it, so they try to contain them. But this is really difficult, and it seems that some policies aimed at blocking have failed, so now it is possible that some in the political system have stepped back and taken action in support.

Compared to fiat currency, Digital currencies are very powerful in-terms  of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this.

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.

The issue has always been a controversial topic and is of interest to a lot of people. How can this problem be solved in a good way around cryptocurrencies? How will they cope with increasing awareness and interest in cryptocurrencies as an alternative asset? This challenge is not small for many countries; it is true that some countries accept the use of bitcoin, but many other countries still ban it, and it is worrying for users to experience it. In the future, when bitcoin is constantly evolving, the fact that bitcoin can affect the financial sector is also worth wondering.

 

when I hear that word forex I immediately remember how the internet has become a place where many people who are creating day trade courses and charge a lot of money for the courses lie that they are specialists in day trade, they show a chart that is not moving and they lie to people that they had a successful buy and sell and people believe in this nonsense and I hardly see these gurus trading live and on a bitcoin pair, there are few people who risked trading bitcoin live, all see him on the exchange making and leaving with profit, it is not easy to trade bitcoin and this forex is the dish of scammers



sincerely, the objective of bitcoin is not to end poverty, although bitcoin is a very volatile asset and because of that it gives high profits it can also cause high losses, so a poor person who only has money to eat should not buy bitcoin, that's why one should not look at bitcoin as something that will end poverty, because it will not


bitcoin has been around for years and if governments wanted to phase out bitcoin they would have done it years ago, now it no longer makes sense to think that governments would want to get rid of bitcoin, bitcoin has already reached a stage of adoption that has become impossible to reverse and come back to the early days of years ago, I think this is pretty clear

Whenever we think like this is the perfect solution for us that is where we are completely wrong in my view we all need to understand that Bitcoin is the only solution for our current problems as self custody, cross border P2P transfers. In the future maybe Bitcoin won't be able to fix our problems so there can be another community standing as it is as we are standing with BTC for some alternative to it. It is just my view you can disagree with it. But remember nothing is perfect except for a few things.

There is no doubt that bitcoin is highly acceptable coin or asset all over the world and no one can deny its beneficial aspects but if government doesn't allow its uses then no one can use it and I think that government will hardly accept it all over the world because due to the acceptance of bitcoin the economy of the countries are badly disturbed.

I think those who are involved in bitcoin are not interested in doing jobs due to which there are are bad effects on the economy of a country.

There are lots of reason why government doesn't want bitcoin and it is certainly not because it can have a good effect towards the people financially but because, first in foremost, government doesn't want cryptocurrency mainly bitcoin because they cannot control it, tax it, and take advantage of it.

And that's quite understandable because everything that have no use with the government will be useless in their eyes and some countries like China even went to the extremes and banned it. But the people are not in the same sides with government, at least for the majority, because Satoshi Nakamoto created bitcoin so that it can help the people and use it as a hedge against inflation and be a currency that the government cannot dictate.

The main thing about cryptocurrencies is good performance in working with big data. Blockchain mechanism is ont something which will always be unique for cryptocurrencies. Nowadays main fiat currencies have become digital too, so they face problems with big data processing. Soon they can adopt blockchain mechanism and transform into pseudofiat currencies with some features of decentralised cryptocurrencies.

IMO, the government still plays an important role in the regulation and regulation of cryptocurrencies. Governments can apply policies and regulations to control and monitor the operation of the cryptocurrency market. If the government does not deal with cryptocurrencies properly, this can have negative effects on the economy and affect people's confidence in the currency. The survival of bitcoin and cryptocurrencies depends on many different factors, not just government response. Bitcoin's convenience, safety, and ability to create value have attracted those interested in and using it. The blockchain technology on which bitcoin is based is also becoming a popular technology in various fields.

So bitcoin and other cryptocurrencies can exist in the future if managed properly and used for its intended purpose. There may be changes and adjustments in regulatory and regulatory circles, but the important thing is that cryptocurrencies can help solve a number of problems in different sectors and contribute to economic development global.

Yeah that's true even though bitcoin don't have utility, all over the world know Bitcoin value is much higher than other asset or stock investment. It's difficult for goverment to anticipate of hype blockchain system and that's why World bank created new technology same as crypto but it's centralize such QRIS , Digital currency Which makes it cardless but currently bitcoin still to be number one as the best investment for to get more profit

Governments are never afraid of Bitcoin's value. the government fears this is because there is still no trace of the owner of Bitcoin so they feel that if a country fully accepts Bitcoin and keeps a large amount of money in it and at some point if Bitcoin becomes a scam then those countries will suffer a lot financially. with these in mind, governments are afraid to accept Bitcoin.

Since the government can't or won't regulate Bitcoin in any way, Bitcoin won't suffer much if the government takes their hands off Bitcoin or acts against it.  It may have a huge effect on the price for a short period of time but it will not destroy Bitcoin by any means. Currently there are many countries supporting Bitcoin, but even a few years ago, every country was against Bitcoin, so Bitcoin could not come this far?

Even though Bitcoin was just created it has been recognized by most business people around today for only a short period of time. Just like Gold which can be considered ancient but has been overtaken by bitcoin,
In addition to the topic you made, I also think that it is unlikely that other governments will oppose bitcoin because more and more people are accepting bitcoin in this generation.

Although it has only been operational for a total of 14 years, Bitcoin is becoming more and more well-known. Despite the numerous unfavorable articles and news stories about Bitcoin that have been published by different media sites, its popularity has not reduced. Although numerous governments have attempted to halt it, it has remained the most valuable coin on the market up to this point. Currently, governments around the world are attempting to accept Bitcoin rather than outright prohibit it. As you consider whether Bitcoin will endure if all national governments decide to destroy it, I believe it's possible that it won't.

I get crypto here, simple and fast, verified https://canadainspace.ca/

My question is that how will they (the government) tackle it because bitcoin is a decentralized system asset and the government approved those early assets to be mine and operated in the jurisdictions because they were centralized so the directors and managers were accepting the policies of the government but in bitcoin, if they tell the exchange to stop operation for the exchange of bitcoin among users then p2p transaction will take place instant which the government can't fight with. Because that has come to individual business and not group business again. When government remove their hands from bitcoin then that will be the beginning of bitcoin expansion. Now that many countries ban bitcoin and yet the citizens are using it to the fullest.

The government is afraid because they cannot get the benefits they are currently getting, so they will not use the Bitcoin concept in regulating and managing their financial system.
As far as we know, the Bitcoin system is very clear because it is decentralized and easy. This is different from the financial system of financial institutions that are under them.

Bitcoin will still exist and transactions will continue even without the government.
Like what has been said by our friends that since the first Bitcoin was born they did not suspect that the Bitcoin system is as good as it is today so that when they are aware of the concept of Bitcoin it can be a challenge for those who are greedy.
The existence of Bitcoins will continue to exist and they cannot regulate.

I didn't think until it officially became a currency. Because at this time honestly the State will not make it a currency because the value fluctuates. That goes against the fixed nature of money that many countries of the world use. I have also heard that Bitcoin was created to minimize third parties in financial transactions. The current conditions of making Bitcoin an Asset is the best thing, I hope the world does not emulate China which banned Bitcoin. Another proof Bitcoin is difficult so payments are legal is Many countries are creating CBDCs. It looks like they were inspired by Cryptocurrency.

Bitcoin will continue to compete with fiat currencies, so until now the government continues to monitor the development of bitcoin which cannot prohibit it completely in use in every community, because the value of bitcoin is currently very high so the government must also be able to take advantage of the digital currency, although it must be made a law to legalize bitcoin it will not be a problem because everyone today always obeys government regulations, But it must be something with procedures and not harm everyone, and the strength of digital currencies is now very strong, so the government will not let it go.

Bitcoins is famous for it’s decentralised nature, that is it cannot be controlled by any government or ruling body. Due to the decentralised nature of the coin, no other person (even if he is the president) can know how many Bitcoins an investor has. So if the government really remove their hands or stand against it, then still it won’t affect the coin in certain ways. If it bans exchanges, then people are so smart that they will opt for P2P deals in order to exchange their coins into FIAT.

Really agree with you but there could be many reasons why crypto is so important nowadays. The power of digital currency, especially in this time, stems from its numerous potential benefits and its ability to transform various aspects of our lives. But there may be many factors related to the government.  Many countries' economic conditions and indications make it impossible for them to implement Bitcoin as a legal form of trade or to recognize its worth as such. However, it's important to note that digital currencies also come with risks and challenges. In summary as the technology evolves, digital currencies have the potential to reshape our financial systems and empower individuals in new and exciting ways.

If the popularity of Bitcoin can be calculated step by step from the beginning till now, it can be seen that the popularity of Bitcoin has increased gradually in these 14 years.  Governments of various countries are trying to improve their country's economic system by exploiting the popularity of Bitcoin.
First El Salvador accepted Bitcoin in their country and later Bhutan government is very close to accepting Bitcoin and maybe soon they will accept Bitcoin in their country. This news is very positive news for Bitcoin. Since the people and governments of different countries are gradually adopting Bitcoin, we can expect that the government of a country that does not recognize Bitcoin will not issue a negative decision against Bitcoin.

Bitcoin's decentralized nature makes it resistant to government control. If governments were to completely remove their hands from Bitcoin, it is likely that it would continue to exist and be used as a form of currency. If governments actively stood against it, Bitcoins adoption and use could be hindered. In recent years, we have seen governments around the world take different approaches to Bitcoin. Some have embraced it and even started to regulate it, while others banned it outright. Despite these actions, Bitcoin has continued to exist and be used by millions of people. If government were to actively stand against bitcoin, they could make it more difficult for people to use it. They could pass laws that make it illegal to won or transact in Bitcoin, or they could make it more difficult for bitcoin exchanges to operate. These actions could limit bitcoin's adoption and use.

Bitcoin is a cryptocurrency not a crypto asset. I see here we are talking about Bitcoin as the power of digital money and not talking about digital assets.
I believe Bitcoin will be successful in the future if the philosophy of Bitcoin as a crypto currency to make transactions and fight the Banks and avoid excessive printing, that's all a good thing. But it saddens me when I see that nowadays people are looking more at BTC as an asset to buy it when the price is low then sell it at the high price.

I don't mind wanting to get rich, but I think our goal is that making Bitcoin a cryptocurrency should become a reality.

Today, the power of digital money has been seen and worked as exemplified by Bitcoin, has presented both opportunities and challenges as well as interactions between governments and cryptocurrencies. It will continue to shape the landscape of the future for this innovation to be felt and enjoyed in light of the regulations that cryptocurrencies have brought to people around the world.

On the question of whether Bitcoin will survive if governments actively oppose or withdraw their support, I think the survival and longevity of cryptocurrencies depend on various factors such as government actions, market dynamics, technological advances, and public adoption. resilience and adaptability.

Important note: There is no paper version of bitcoin and there never will be an official one.


Government opposition has occurred in several countries. Let's say China even tried to stop the ecosystem from continuing by banning bitcoin mining (which was previously the top hashrate contributor on a country basis), and a look at last year's news might surprise you^[1]. In conclusion, this is really not a Bitcoin vs government fight, it is citizens vs government fight in the context of freedom. Bitcoin is just a representation of citizen freedom.


1. https://cointelegraph.com/news/china-returns-as-2nd-top-bitcoin-mining-hub-despite-the-crypto-ban

Yes, Bitcoin will stay without government support or against it, because we have seen massive citizens using Bitcoin to grow their wealth without their government make it legal in their country. Bitcoin is an asset that is not control by the government, and it will never be stop by any government representative because it was created to eliminate delay in world transaction and also remove unemployment from the whole world. Those countries that legalized Bitcoin in their land are enjoying potential benefits of Bitcoin that will make their generation not to work against Bitcoin than to do everything possible within their power to spread the good information about Bitcoin.

If they can not shut down all non KYC exchanges, they will not be able to prohibit their citizens to invest in Bitcoin.

I don't think governments will want to get a complete prohibition against Bitcoin investors and they will never succeed to shut down non KYC exchanges. Bad ones technically will have bad endings but the world is not lack of developers to build better non KYC exchanges in future.

It will be there, always even the Bitcoin network stop running. Your bitcoin will always be in your wallet, not disappear like a number in your bank account that will disappear if a bank collapses, get bankrupted and disappears.

Even if the Bitcoin network is dead (no hashrate, no miner), your will still have your coins like a collectible coin.

indeed if the government prohibits its citizens from investing in btc this will make it difficult for a btc investor, and it is not impossible that crypto market conditions will also decline and people will definitely sell their assets.
but bitcoin will always be there, only the price will definitely go down, but of course we won't know the truth for sure, because the crypto market is always difficult to predict.

I think it's better to think about the moment
and positive thinking.

Strictly speaking, bitcoin is like any other asset, it is used for investment, and there will be winners and losers, it cannot help alleviate poverty or lift all people out of poverty.

The claims that the government is afraid of bitcoin are not entirely true, but it is true that they are also concerned about bitcoin as it is growing rapidly without regulation. But I agree with you, they cannot destroy the bitcoin network, but disrupting this market is not too difficult for them.
With just a few bans and a series of strict regulations, this market will collapse, and we will have no playing field. Many people are underestimating the power of the government. They can build this world economy, and they can also destroy it, so destroying a small market like crypto is too simple.

bitcoin has been around for more than a decade, and indeed negative news about bitcoin is always there, but positive news is of course always there,
I think bitcoin will continue to exist because there are more and more enthusiasts so surely the government will also approve what the public likes and is interested in, maybe the government prohibits people from investing in btc because they are afraid that people will be deceived by btc investments.

so i think btc is here to stay.

Bitcoin has been running for 14 long years so far and the popularity of Bitcoin is increasing with time. Various media outlets have published various negative comments about Bitcoin and published various negative news, but the popularity of Bitcoin has not decreased. Governments of various countries have tried to stop it but this currency has automatically remained the most valuable coin in the market till now. Currently, governments of various countries are trying to accept Bitcoin instead of banning it. As you plan on whether Bitcoin will survive if the governments of all countries decide to wipe it out, I think it is possible that Bitcoin will never be wiped out.

The world is changing into technology which Bitcoin is the moving trend in online digital assets, which many institution, company or individual are trading Bitcoin as a means of making profits in the business, and the government been against Bitcoin are looking a way to stop Bitcoin business, to enable the youths doing nothing. But Bitcoin has empowered many people.

What did you mean about paper Bitcoin?

Will Bitcoin stay if the government completely ban Bitcoin? it depends on how you define what stay is.

Bitcoin is decentralized, even the government completely ban it, the citizens can still buy, trade or hold Bitcoin using DEX. But they need to consider to protect their privacy because the government can easily track their citizens who use Bitcoin and they might go to jail since they broke the country's laws.

Bitcoin's emergence indeed challenged the traditional financial structures that were comfortable and familiar. It's akin to a Renaissance in digital economics - out with the old, in with the new. Unlike physical assets, Bitcoin's digital nature allows it to be globally accessible, providing a level of financial inclusion previously unimaginable. It's like an all-you-can-eat buffet where everyone's invited, regardless of nationality or social status. Bitcoin doesn't discriminate; it circulates with a speed and efficiency that conventional assets cannot match.

However, the notion of governments completely withdrawing their interest in Bitcoin is as hypothetical as spotting a unicorn in your backyard. Governments may seem like the 'bad guys' in this story, but their involvement can also bring about regulation and stability, like a stern parent setting ground rules for a wild teenager. Remember, even the wildest rivers eventually find their way to the sea.

I wouldn't really call oil and oil as digital assets, they're tangible and I don't see how they can be digital just because they're traded online, maybe they're quasi-digital but I don't think it's a real digital asset like bitcoin. It's not the government that's afraid of bitcoin, it's the rich cocksucker club in Wall Street that owns the banks that's scared, they're the real target, the government is just their puppet.

I have this inkling concern about digital money, as much as you all want to believe that it's the future and the fact that it's secure as you want to believe it, aren't we just one solar storm away from destroying our crypto by getting our technology fried by said solar storm? Are too reliant on this invisible house of cards?

This governments you're seeing have their own reasons for doing such, although it's for their own selfish interests, those other forms of asset you've mentioned were all centralized and government can implement a constant regulations on them, but consider bitcoin being a digital cryptocurrencies that is decentralized, this means there's no central authorities that guides the use, trade or acceptabilities of bitcoin use, bitcoin is self moderated through it protocols, ot even the miners or any other developer can make changes to manipulate or control the bitcoin network.


They never come out to declare their support ror bitcoin and we already assume they are against it except for countries where bitcoin remains a legal tender and where the use of bitcoin is legal, that's why some deemed fot to place ban on use of bitcoin in their country because they don't want the new monetary system out of their ignorance, yet upon all these attacks, bitcoin adopt is increasing and bitcoin is still acceptable as a legal means or making payments.

This does not mean that programs that are in line with the government are alternatives that can be reached by most people, except for the gold commodity which is the instrument of choice for the people with a limited number of ownership according to investment capital. The Government only considers the impact of exile and bitcoin is considered a commodity that can undermine their policy system. Even though El Salvador has proven that this is not the case and instead there are options that many people can take advantage of.

Look at the history of bitcoin from its inception to the present day and try to learn what percentage of governments support bitcoin adoption policies and is bitcoin becoming dead or just disappearing? Talking about effects may be true if the government opposes the existence of bitcoin globally and there are many mass bans that they carry out together, so the growth of bitcoin may experience ups and downs. But in general I don't see that potential worrying too much about whatever ban the government is trying to play.

I think the government is also very interested in BTC and the technology behind it, but at the moment it's a bit coy maybe. However, if you do get support from stakeholders, I think it's easy to run and implement. Yes, in general terms, governments play an important role in the sustainability of cryptocurrencies like Bitcoin, both the situation and the views of governments vary in different countries. Well, this is where the importance of mass adoption, be it individuals, companies or institutions in terms of use. why is this necessary, so that the chances of survival are greater despite efforts If governments actively ban or inhibit the use of Bitcoin.

Bitcoin will not affect whether or not the government agrees because Bitcoin does not belong to them like fiat currency.
Governments may regulate fiat currency as an employer who regulates by the rules that are made, but they cannot regulate Bitcoin because Bitcoin is decentralized, has nothing to do with the government and Bitcoin will still exist even if the government does not support it.

Some countries have banned all activities related to crypto including Bitcoin, but they were not successful and many users who live in countries where it is banned can still do activities with Bitcoin.

The government will always be comfortable with trading platforms that they can control and freely regulate. The forex and other online trading space can be easily manipulated by the Central banks and stock exchange markets to suit the plans of politicians and their cronies. They don't like Bitcoin because they cannot control a decentralized currency or investment.


I don't think Bitcoin will die regardless of the attacks it is getting from some quarters. Although there have been some setbacks like some bans and restrictions some countries are also having a good view about Bitcoin. The younger generation is more attracted to Bitcoin and we have seen some politicians having the right perception of Bitcoin. I am predicting that when the political dispensation of some of the current rigid politicians elapses, the new set of leaders will have a more positive view of Bitcoin.

Are you sure those things appeared digitally only after Bitcoin Genesis block appearance in 2009?

Crude oil, gold and more things were available for online trading before 2009. Online banking history. It has a long story and blossomed since 1990s, not since 2009.
You can have faster confirmation time with bank transfer, Paypal, other payment methods, with altcoin networks than with Bitcoin network.

However, faster does not mean better. Bitcoin provides a most decentralized and secure payment method. No chargeback, no reversible transactions.

https://howmanyconfs.com/

I don't think we can compare BTC to others assets like oil and gold.

Not to burst the bubble for you, but BTC is not a magic bean that can eliminate every problems known to man including poverty.


Maybe what you mean is that we should get our ourselves as early on bitcoin. It's not going to die, on the other hand it will continue to grow as we inch close to the time wherein 'almost all bitcoin is mine' paradigm.

And it could happen in the next 4-4 halvings, excluding the one we will have to see next year.

Yes, I'm very sure Bitcoin will thrive if only the government won't stand against it being the 'government' as we're aware, for those that follow the trend in comparison with U.S stock markets, government policies has a way of really influencing bitcoins rise .

If the government decides to work without outright laws to completely eradicate Bitcoin, it will still thrive but at a slower rate compared with when the government is in full support.
Summarily, we need the support of all as much as possible to maintain a steady growth of Bitcoin especially our government.

Bitcoin only changed lives of a small number of early adopters who sold for massive profit, otherwise it's not being used daily by anyone. And of course it didn't do anything to poverty on a global scale, or even on a scale of one small country like El Salvador.

And governments are not afraid of Bitcoin, why would they be afraid of something that nobody uses as a currency? They could so easily destroy the Bitcoin market by just banning centralized exchanges, yet they didn't do this, ask yourself why.

Digital money become useful these days because it can improve the efficiency, security, and comfort of our financial lives daily.
What I can notice is being convenient, and people who do not have access to traditional banking services may particularly benefit from this.

The best example is Bitcoin, where you can have your own bank on your mobile phone, anywhere and anytime which removes the constraints imposed by physical currency in the past.

Other economic assets that existed prior to bitcoin continue to exist without government scrutiny because it is completely controlled by the government and has ultimate say over its usage and circulation. Bitcoin was not designed to enable centralization, which is why it is having difficulty gaining official acceptance.


Despite the government's tight laws, bitcoin is still standing on its own. I believe it will be strengthened if the government has no involvement or control over its use and adoption. However, unless the government is compelled to agree to its usage, this will be extremely difficult to achieve in practice. But with that happening, adoption will be faster and easier than it is now.

It is complex to make specific signals/thinkigns to determine what is really what worries the  governments, the truth of the matter is that it is based on the empowerment of individuals, mainly. And that, regardless of whether bitcoin rises in price or becomes a highly valuable asset, is the main concern of the establishment, which not only includes governments.

On the other hand, what OP calls "the digital power of the currency" is available to everyone, it is not that it is an exclusive access of one of the parties, it which is honestly disadvantageous, even today for the common citizen.

There are governments that banned Bitcoin... and are still strong about their decision.


The government cannot censor the Bitcoin network but they (the government) have the authority over centralized services and as we know majority of cryptocurrency users are engaged with these centralized services, so if ever the government decides to censor Bitcoin, it will have a huge impact to the Bitcoin economy.  It is possible that Bitcoin will take several step back if the government everywhere decided to ban Bitcoin.


Did China already accept Bitcoin now?  As far as I know China is still very obsessed with their CBDC.  and as what the information on the internet tells, China had not yet reversed its Bitcoin ban since 2021.

Government rules and cultural acceptability are only two of the many elements that will affect the development and sustainability of bitcoin. Despite the fact that Bitcoin has become incredibly well-known and widely accepted, it is vital to remember that governments are very critical in determining the regulatory landscape for cryptocurrencies. Governments might significantly affect Bitcoin's acceptance and use if they take a strong position against it and impose stringent rules. Government policies may have an impact on how investors feel, how stable the market is, and how people see cryptocurrencies in general.
It is important to note that Bitcoin has some resistance to and independence from political control due to its decentralized structure. Transactions may take place on its peer-to-peer network without the involvement of middlemen or centralized authority. Due to this quality, Bitcoin has remained popular and has survived regulatory difficulties in the past.
It is unclear if Bitcoin would continue to exist and thrive in the absence of government intervention. While it may retain its value and circulation, it may encounter difficulties in attaining widespread adoption and integration into established financial systems in the absence of government collaboration or acceptance.

Bitcoin's future is determined by a complex interaction of elements such as technological improvements, legislative developments, societal acceptance, and market dynamics.

Bitcoin does not rely on the government.  Within the year of its existence, the government never gave a hand to Bitcoin until it became popular and established its foundation.  The government just butt in when Bitcoin became so popular and first they try to prevent people from engaging with Bitcoin.  But when they feel that they can't prevent their people from engaging with Bitcoin, they then accept Bitcoin set rules and regulations and added taxation to it.  You see, Bitcoin does not rely on government to exist and become popular so Bitcoin will stay even if the government stands against it.  There is no doubt about that because people are already aware of how good decentralization is. 

The primary issue between the government and Bitcoin revolves around decentralization. Governments operate as centralized organizations, while Bitcoin is a decentralized cryptocurrency, which means the government cannot exert control over it. Consequently, whether the government approves of it or not, Bitcoin will continue to exist. When Bitcoin first emerged, the government was unaware of its potential and did not provide any support. However, Bitcoin has now achieved considerable prominence. Although a collective decision by all governments to reject Bitcoin could impact its price, they would be unable to halt its existence.

Bitcoin exists even when governments are already suppressing it, just look at what Gensler is doing. If it thrives despite the media telling the public cryptocurrency are scam and destroys the environment, Bitcoin is used widely already.

Bitcoin only needs to be bought in fiat though for it to have value. I guess the government will have to destroy the fiat system to destroy Bitcoin. But this might also force people to price the commodities in satoshis.

It is absolutely sure that Bitcoin will remain because governments can do nothing but accept it and the only way they have to fight it is not to try to censor it because they will never make it but to fight it with the CBDCs which will be the only way to throw smoke in people's eyes.  On the other hand, it is not possible to stop it. States such as China and Russia have already tried but they have given up and now it will be even more difficult because blockstreams and other services have sent the blockchain to the satellites so it will be even more difficult even if they were to cut the connection.

The government won't immediately adopt the concept of Bitcoin since it grants everyone financial freedom, whereas the government is only interested in the meager revenue it can raise through taxes.
Crude oil and gold are traditional trading goods that are still in use, but the concept of Bitcoin has eliminated the notion of gold investment for young people since they now perceive it as being safer than investing in actual assets like gold.

I don't think Bitcoin is dependent on anything because governments were not aware of it when it was established, and the concept of Bitcoin is independent of any government policy; hence, Bitcoin will exist even if the government decides not to get involved.

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Bitcoin is an assets that we shouldn't lose or allow to dies off, if you check history of all money weather digital or paper bitcoin circulate faster in values and distributions. As highly respected as dollars not all countries have it but bitcoin is 14 years now, the world is aware of it. Do you think bitcoin will stay if government totally remove their hands or stand against it?