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Topic: What will happen if Bitcoin gets official permission from the government...??? - page 11. (Read 2385 times)

newbie
Activity: 151
Merit: 0
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?

There are still many countries that oppose payment using bitcoin, so it is impossible for the government to interfere in the crypto world. Bitcoin is difficult to control and tracking users is also increasingly difficult, so it is very unlikely that the government will intervene.
sr. member
Activity: 574
Merit: 296
Bitcoin isn't a bubble. It's the pin!
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?

The government cannot do this. there is no backdoor in Bitcoin or no way for them to control the network unless they had 51% of the hashrate, which is incredibly unlikely due to the cost of production of ASICs and the limited resources available. The government would have to crack down on their citizens and restrict their freedoms in order to control the network by making mining illegal (think new world order type stuff), and we would have much bigger problems if this were to happen. And if they were to do this the only thing they could do is to not accept certain transactions into a block. They wouldn't be able to do much more than that.

This scenario is so infeasible it's not worth worrying about.
newbie
Activity: 28
Merit: 0
Bitcoin is an independent Cryptocurrency that no other third party takes advantage of transactions from two sides. This is a peer to peer transaction conducted by sellers and buyers only. Cryptocurrency transactions do not need to be identified or verified by the recipient of the funds when the funds are sent, that is what makes many people choose to use bitcoin.

Does the government mix in managing transactions for each user?

If the government mixes in managing transactions, will they take advantage of every transaction Huh

What is your opinion.?
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