Will governments prohibit developers from creating a new coin?

sana54210

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Quote from: Kelvinid on September 10, 2021, 09:16:37 AM

You may say that it was not a threat for fiat but unfortunately, and from the government's insights this is a big threat for them. The biggest concern is to have control over crypto which was impossible and creating their own digital currency is their way to combat the spread of crypto.

The government couldn't prohibit the creation of crypto but it was the SEC to find a way on how to stop their project. Many issues had rise concerning these and many crypto projects have been also dissolved with their actions.

They can't really stop projects from happening, what they can do however is at the harshest of ways, jail people who create a project. However once a project is out, then nobody could stop it, look where satoshinakomoto is, nowhere but bitcoin is still around. Unfortunately in today's day and age there are many investors who are expecting project creators to keep on improving and developing and marketing the project so that investors could make money, which is incredibly wrong.

I believe a proper project is something that you do, release to the world, and then you just back off. If the owners are required to keep on working on it, then it is not decentralized and it is wrong. ADA requires constant development that will make smart contracts great, well does that mean if the owner of the project dies tomorrow, ADA is over? I do not want to invest into anything that has that possibility.

Beparanf

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Crypto is freedom, working on blockchain technology that no one can stop, the government can't stop coin projects because they have no control, this is what makes anyone love and love to come to cryptocurrencies.

Many wants freedom and not being monitored or control by the government especially when it comes to taxes. Creating new coins can't be stop by anyone however there should be some control in coins that are keep on coming since they become redundant or useless. The more the coins appear the more the chance scammers will get victims. If there will be a agency or simply a viting poll site to control the coins or limit it depending on their usefulness, potential or credibility we will be able to see which coin will be better for us. But then, this how crypto being decentralized works.

Shallow

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The launching or development of different cryptocurrencies can be seen as the development of new innovative projects or technologies capable of shaping the future, this is true because Bitcoin and Ethereum started in such way and today, they are already shaping the crypto space as well as the entire world, so in simple words, No, the government won't prohibit developers from creating new coins.
Also, taking a look at what El Salvador country is doing or the step they are taking, it is becoming clear that crypto has come to stay, and where any country becomes hostile towards crypto and their developers, they can find their ways into other countries with friendly crypto regulations. Sooner than later, banks and other organizations will start looking for ways to tap into what crypto offers so as to serve their users well.

imamusma

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Crypto is freedom, working on blockchain technology that no one can stop, the government can't stop coin projects because they have no control, this is what makes anyone love and love to come to cryptocurrencies.

Financial freedom is always present in cryptocurrencies so that's what makes everyone love the crypto space until now, even though there are some people who are trying to stop cryptocurrency through several regulations from certain countries, even though cryptocurrencies have never interfered with the state system.

judeafante

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Some countries are already banning trading Cryptocurrency this is not new but their number is decreasing, governments that ban Cryptocurrency will likely ban Crypto creation but we have a large number of countries that allow trading and creation of coins, so we will not lack developers and projects in the Cryptosphere, we cannot stop governments from banning Cryptocurrency I just pity them because they do not know what they are missing.

Tigerheart3026

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i do not see government can be threat to develop in new coins, if the government wants to stopped, does it have the control in crypto development? nothing. government cannot interfere in crypto improvement.

Sanitough

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Prohibit? No.

That's not the job of the government, if they accept crypto, all they can do is regulate the market, and that's very important to protect investors from the developers that are main intention is to scam people. Though we have a lot of projects already existing in the market, few of them really have the potential or are run by a serious team thinking of future success, so a more regulated market, will result in more quality projects.

molsewid

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if governments are threatened by crypto developments, they can just ban everyone from using crypto. This action can be done by issuing regulations in the country. I think crypto has a positive impact on society, financial needs can be met in various forms that exist in cryptocurrencies. For me the government does not need to interfere with this digital currency, maybe in the future crypto/blockchain technology can have a more positive impact not only for its users but also for the international economy.

The mere fact that cryptocurrency is a decentralized platform it only means that the government has nothing to do to interfere to digital currency. I think the thing that a government could do is to prohibit their people form engaging in digital currency because for sure the main reason why they did it its because the government has no power to control it and by prohibiting cryptocurrency in the country but I don't think so it could really affect the crypto market. Cryptocurrency is really a big help to everyone especially at this time of pandemic and this could be a great help in the economy of a certain country.

jack wira

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In my opinion, forbidding developers to no longer issue crypto/coins is not a solution, bro, in fact it will be troublesome for the government itself, because cryptocurence is a platform that is driven by blockchain technology, so it is not easy to stop it or prohibit it.
However, what is needed is how the government makes regulations and laws regarding cryptocurrencies.

Lordshiva

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Quote from: Pulsar77 on September 10, 2021, 07:20:18 AM

I don't think that governments will ever prohibit new cryptocurrencies from being developed. I don't see cryptocurrencies as a threat for fiat currencies. They have completely different systems and their goals are also different for people. Rather than these cryptocurrencies, the biggest threat for fiat currencies will be the digital currencies which are developed by governments. Because in the future, they will start replacing fiat currencies one by one.

These kind of thoughts just keep coming that government will ban or do that but it is not going to happen in reality. Yes there are no threat to fiat. Both are completely different things and cannot be compared.

irsykes

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Quote from: Abiky on August 06, 2021, 10:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

If government really made regulation up to the coin itself, i think it will means crypto is not decentralized anymore. Because it can really disrupt crypto community itself and would make not really much variation in altcoin. It is depends on us to pick which altcoin that we think profitable for us, and in crypto itself already tell people to pick investment with analysis and research because risk is all on ourself.

Tigerheart3026

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there are nothing tracing opportunities for any government, what we did likes creating new coins. a lot of developers working to implement blockchain projects in different marketplaces but crypto still not legalize in my country.

how can government prohibit to creating new coins?
even crypto is anonymous also.

devil2man

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in fact, now that cryptocurrencies are becoming more and more famous and valuable, the various states governments banks are trying to stem, limit decentralization in order not to lose gains and control, luckily no one will ever be able to prevent the creation of new virtual coins to anyone who wants create its own currency

conected

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Quote from: Pulsar77 on September 10, 2021, 07:20:18 AM

I don't think that governments will ever prohibit new cryptocurrencies from being developed. I don't see cryptocurrencies as a threat for fiat currencies. They have completely different systems and their goals are also different for people. Rather than these cryptocurrencies, the biggest threat for fiat currencies will be the digital currencies which are developed by governments. Because in the future, they will start replacing fiat currencies one by one.

- Well, asmall peninsula like crypto can't yet threaten large swathes of land like government and fiat but if we want to go with the natural, ignoring the development of crypto is impossible for the government because the minerals in this small peninsula are mined by many people and this behavior is not safe, people here sometimes bring some pain and spread to others in the community. The developer is a place to experiment and create new minerals, the experiment will have consequences on users is what the government is worried about

Krishna901

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I think it will be very difficult for the government to be successful in banning cryptocurrencies. Cryptocurrencies itself has unstoppable nature. The decentralized nature of cryptocurrency underlying technology will make this extremely difficult. There are some countries of the world which their government has placed ban in exchanging cryptocurrencies for fiat. One among is Nigeria where Banks that exchange crypto for fiat for their clients will face the law. Despite these measures taken to prevent crypto , users still find their way to trade it mostly through P2P which is unstoppable and recently a survey conducted by Binance revealed Nigerians transact the highest volume of Cryptocurrencies in their platform. There are lots of project that are legit but anonymous team .A sincere developer can create a coin without revealing their identity and of course achieve success . A good example is Satoshi Nakamato ,the founder of Bitcoin whose identity still remain anonymous. Cryptocurrency has come to stay and no government will be able to stop it .

midaslordes

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Knowing that coins being created in the crypto space are decentralized mostly I dont think that the government can do such thing like prohibitions. Even the regulators is having a rough time dealing with cryptos no wonder government cant do it also without any laws.

Kelvinid

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Quote from: Pulsar77 on September 10, 2021, 07:20:18 AM

I don't think that governments will ever prohibit new cryptocurrencies from being developed. I don't see cryptocurrencies as a threat for fiat currencies. They have completely different systems and their goals are also different for people. Rather than these cryptocurrencies, the biggest threat for fiat currencies will be the digital currencies which are developed by governments. Because in the future, they will start replacing fiat currencies one by one.

You may say that it was not a threat for fiat but unfortunately, and from the government's insights this is a big threat for them. The biggest concern is to have control over crypto which was impossible and creating their own digital currency is their way to combat the spread of crypto.

The government couldn't prohibit the creation of crypto but it was the SEC to find a way on how to stop their project. Many issues had rise concerning these and many crypto projects have been also dissolved with their actions.

Pulsar77

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I don't think that governments will ever prohibit new cryptocurrencies from being developed. I don't see cryptocurrencies as a threat for fiat currencies. They have completely different systems and their goals are also different for people. Rather than these cryptocurrencies, the biggest threat for fiat currencies will be the digital currencies which are developed by governments. Because in the future, they will start replacing fiat currencies one by one.

Abiky

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Quote from: Ozero on August 28, 2021, 08:34:09 AM

The capabilities of states and their bodies should not be underestimated. They have a lot of opportunities to influence the development, state and future of decentralized cryptocurrency. In recent years, cryptocurrency has been developing rapidly and the number of its supporters is growing. The positions of high-ranking officials in our civilized society are, as a rule, elective. They have to take into account their rating and take actions that would not allow it to fall if they want to continue to remain in power. If the cryptocurrency finds strong support in the community, such officials will not act against the wishes of the public. Apparently, this is already deterring government agencies from taking radical measures against the cryptocurrency. In addition, it cannot be said that cryptocurrency is unprofitable for officials of different ranks. After all, they are also people with the same weaknesses and also do not mind hiding part of their unreported profit in cryptocurrency.
Therefore, the cryptocurrency has a chance to gain a foothold in this society, despite their conflicting influence on society and the elite that governs it. The regulation of cryptocurrency will increase, but I don't think it will come to drastic measures.

That's certainly true, mate. Governments can come up with any tactic in order to stifle the growth of crypto/Blockchain tech. After all, they don't want to lose control over people's lives. Fiat is what makes the world go round, so we should expect more opposition from mainstream banks and governments in the future.

All in all, I don't think governments will be able to stop developers from creating a new coin, since everything is open sourced. But they can try to hunt for a developer's identity in order to hold him/her accountable for his/her actions. Centralized exchanges might restrict developers from listing a new coin if they don't comply with KYC. This will force developers to list their coin on a decentralized exchange at a cost of reduced liquidity and public exposure. As long as crypto/Blockchain tech remains decentralized and censorship-resistant, there should be nothing to worry about. Just my thoughts Grin

Ozero

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Quote from: HardCore12V on September 01, 2021, 03:52:02 AM

Absolute nonsense, creating crypto coins is as easy as ABC through few decentralized platforms how will government control this part? Every decentralized coins are very difficult to control.... Someone please say something about this?

Possible responses to the further spread of decentralized cryptocurrency by states and their governments will depend on how strongly they see it as a threat to the existence of their global financial stability. To protect it, states can resort to any adequate measures.
The creation of a cryptocurrency can be classified as a kind of business, and as a general rule, any person can engage in any type of business, with the exception of those in respect of which there is a special prohibition by law. In theory, states can prohibit their citizens from engaging in any kind of business. Of particular importance is the fact that states cannot control the very fact of creating a new cryptocurrency. They can control its further circulation, and therefore react to its illegal appearance.

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