The Role of Government in Crypto - page 10.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

Quote from: RILWAN on July 30, 2021, 11:51:29 PM

will government regulations on cryptocurrencies undermined crypto decentralized nature?

Since you generalized it by mentioning cryptocurrencies, as opposed to BTCitcoin, then we already have a "bunch" of them with centralized natures but to answer your question, "YES" and that's one of their main objectives.

Quote from: Obito on July 31, 2021, 12:37:15 AM

But if it's the reverse

I think it's safe to say that's not going to happen with most of them ^{[with the exception of a few]}.

Ludmilla_rose1995

full member

Activity: 1638

Merit: 167

Buzz App - Spin wheel, farm rewards

Quote from: RILWAN on July 30, 2021, 11:51:29 PM

questions:

will will government regulations on cryptocurrencies undermined crypto decentralized nature?

Yes, it would undermine the decentralized of crypto, because I think decentralization is the idealist of cryptocurrencies. The crypto community (myself included) is attracted to the crypto world because of the decentralized nature of crypto. In my opinion, the government does not need to tighten regulations let alone take control of crypto users. Instead, the government should use crypto and its technology to build the country's progress.

Bitcoin Seller

full member

Activity: 567

Merit: 148

Quote from: RILWAN on July 30, 2021, 11:51:29 PM

the primary role of government is to provide a regulatory framework in an economy, Government sole responsibility is to provide a guideline on how thing are to be done within their jurisdictions.

this is not different with cryptocurrency although cryptocurrency is created with high anonymous the truth remains that cryptocurrency co-exist with other factors in the economy such as the bank and the traditional currencies, for crypto to become a full flesh currency it need to under go government regulation because that is the only way cryptocurrency will be considered a legal currency.

questions:

will will government regulations on cryptocurrencies undermined crypto decentralized nature?

Initially cryptocurrencies were created to be out of the control of authorities, so if the government captured the control over crypto, the main idea would be destroyed. Nevertheless, different actions from the governments can have a big negative impact on the crypto world/ For example, they can ban different services and exchanges on their territory.

Obito

sr. member

Activity: 1274

Merit: 293

If the regulation that was placed is really strict and only favors the side of the government then probably you can say that it undermines the decentralized nature of cryptocurrency. But if it's the reverse and the government and the people support it then we can see something positive happen to cryptocurrency in general.

RILWAN

member

Activity: 742

Merit: 12

Global peace initiative

the primary role of government is to provide a regulatory framework in an economy, Government sole responsibility is to provide a guideline on how thing are to be done within their jurisdictions.

this is not different with cryptocurrency although cryptocurrency is created with high anonymous the truth remains that cryptocurrency co-exist with other factors in the economy such as the bank and the traditional currencies, for crypto to become a full flesh currency it need to under go government regulation because that is the only way cryptocurrency will be considered a legal currency.

questions:

will government regulations on cryptocurrencies undermined crypto decentralized nature?

Topic: The Role of Government in Crypto - page 10. (Read 1360 times)