Bitcoin Forum

I have read a few articles about arguments between government and betcoins while killing my time on the net.

So here's the situation.

What "IF" the government takeover or regulate the bitcoins??. What well happen and it's effect??

I think that situation will not happen if cryptoworld pass it to the government the sense of being decentralized will vanish.
"IF" this situation happen bitcoin will die government will surely set bitcoin aside because of their corrupt thinking.

Open your eyes!
Decentralization has long ceased to exist!
Bitcoin became very dependent on the news.

And the one who can create them, can manipulate the price of bitcoin.
As it was done recently by hackers about Chinese banks.

The idea of the Nakamoto group has failed and one god knows if this devil's coin will ever grow ...

That is actually impossible. Bitcoin is a centralized crypto and it is like a common currency for whole world and any specific country or government cannot takeover it. These will be a crypto released by any government for their sake and they can control that but Bitcoin cannot be controlled by them.

If government will take over bitcoin. maybe the price of bitcoin will down in the market and they will give a tax when we receive bitcoin.

I think, with this statement " Bitcoin is a centralized crypto and it is like a common currency for the whole world" you contradict your claim of it's "Impossible". Bitcoin's industry or the crypto world has a decentralized system, It is somehow not a common currency worldwide. Given that you said it is centralized, the currency that we normally use is also under a centralized system by which any Government can manipulate it. The Government has the power over the monetary value of a country's currency, they literally can do whatever they want.

How can the government will takeover bitcoin? I don't think the government will take over bitcoin, what's more possible is the regulation of bitcoins. If this happens then the people who are skeptic with bitcoin will start to trust bitcoin because the government is regulating it.

As far as I know it is impossible for a singe entity to control Bitcoin and that is why we love decentralization now for the regulation it is very possible as we see now there are a lot of efforts from other government on trying to Ban or implement laws about Crypto. With regulation there will always be positive and negative about it.
I am not sure yet if the positive will outweigh the negative, lets just see in the upcoming weeks on what type of regulations they will implement.

This government issue had been a hot topic, and most of the countries is waiting for the decision either banned or regulated, but for sure the government can't takeover Bitcoin, Bitcoin belong to the people around the world, after some time seems like the government going to regulate bitcoin, there will be pro and cons consequences, the pro is we will be easier to spend Bitcoin, the cons is we will be losing our anonymous status

Bitcoin is decentralized, so no government can control bitcoin, so there's no need to worry.
The amount of bitcoins is certain, and the fragmentation of the bitcoins means that it cannot be manipulated by any government.

It will be almost impossible for government to take over bitcoin and control it, in fact no government can control bitcoin because why bitcoin is decentralized and at that it not controlled by any individual or body bitcoin is an independent currency which does not  need the help of the government to continue to exist and again it will be very hard for any government to be able to control or regulates bitcoin because you can do this two things only if you have authority over it.

 that's impossible that government overtake bitcoin. maybe they will adopt bitcoin to legalize in their country but not to overtake because they will never control crypto currency it is decentralized.

There are countries who already regulate it and nothing happens to bitcoin. If government wants to stop it, they should put a ban, not regulations. I hope you know that no one can stop bitcoin because its decentralize. Just look at countries that ban bitcoin, nothing has stop their citizens to go and acquire it. They can simple buy / sell it through localbitcoins or even OTC just like many Chinese are doing right now. Not even government and central banks can stop this revolution.

     Well, that is clearly the way to go if we want the crypto world to survive in the years to come for adoption because clearly, governments will not legalize any crypto currency unless there is regulation that can prevent other people from getting scammed or preventing criminals to take advantage of the crypto currencies that are made for absolute anonymity. If this happens though, we may be able to enjoy all the benefits of the crypto world but with limitations. Also, the prices would be increasing and be close to being constant or less volatile by then.

Which government are you referring to? Which regulations are you referring to? Bitcoin is worldwide, and so if a single government decided to oppose Bitcoin it would be insignificant. No individual government or even a large group of governments has the power to shut down Bitcoin in a major way. I do not see any regulations causing any significant obstacles to Bitcoin.

Government should not takeover the Bitcoin cryptocurrency because it is decentralized cryptocurrency but regulations and restriction is possible in government. This is not completely regulate in all the government it depends on country economic status. Half of the countries still below poverty line but few countries are developed countries so many changes are happen in future market.

It's really hard to regulate bitcoins because you can't really track the payments, you can't attach an address to a person as he will always be able to reopen an address or to use multiple addresses.

I think that govenrments may attempt to regulate cryptoucurrencies by blocking any on-bank payments that are related to crypto, and opening their own centralized cryptocurrency that they will be able to control.
Regulating something as wild as bitcoin is impossible .

Bitcoin, per se, is a decentralized cryptocurrency which simply means that its control will depend on its investor and users. Government takeover will be a long process knowing that the purpose of cryptos is the anonymity and unique identity.

Takeover?No.Regulate or ban yes.Regulations are not so bad,make it safer for all.I wish even more regulations and inspections ,checks about all those new ICO´s out there.

Regulating bitcoins is not bad, whats bad is if they decide to ban it or make it illegal. Even if they do any of those two, bitcoin will survive as its a decentralized currency and theres no way a government could ban it completely.

Clearly can't ban it otherwise they would have already, and now it is too big to stop. If they regulate it, that would be amazing for the space although it will cause short term volatility. It seems the market overreacts to every news regardless of whether it is positive or negative these days.

Yes, that's right. They can only take action against people when people convert cryptocurrencies to FIAT or FIAT to cryptocurrencies. They also try to spread FUD to decrease the price. But I think finally that's bitcoin which will takeover.

Government cannot really takeover bitcoins. It may ban it but that too will be useless as they cannot control it directly or indirectly all they can do is taking it outside the banking channel only. So its nothing like they are going to takeover it. They too are confused about what they can do to regulate and tax bitcoins.

I don't see this happening to be honest , the biggest point of bitcoin is that it is decentralized. Even if they make it happen , bitcoin still needs to be accepted by the population to be useful. And i think it would be easier to start their own coin rather then do all the work to control bitcoin.

Betcoins lol at least learn to type that right. What you're trying to say will never happen and this is one of those situations that can't happen. Do you even realise that bitcoins and government are like north and South Pole they can't be one. I don't know what kind of articles you have read but I think it's full of fud avoid them.

Uhh? I think you must read news and current events online regarding bitcoin you are missing out. The Governments around the world are trying to regulate bitcoin by setting up rules and regulation in exchanges such as identity verifications and stuff so, your question is already happening in many countries around the world.

ICOs and bitcoin were not related to each other so, if you want to talk about ICOs go to alternate cryptocurrencies section this is only for bitcoin related issues okay?

That's not really gonna happen. They may apply taxes on bitcoin or ban it. But taking it over is not really possible. If somehow, government takes over, bitcoin won't be as widely used as now.

If one government or country makes bitcoin as their national currency or legalized only by one country then I think there will be jealousy from other countries so it will be bad for bitcoin development in the future because the regulation will damage the ecosystem of bitcoin users that exist all over the world.

I would have to completely disagree with you on this one. I think Bitcoin would flourish much more rapidly, and without artificial obstacles if there were less governments attempting to regulate Bitcoin. Regulating Bitcoin is bad in my opinion, at least it is bad for Bitcoin and the users of Bitcoin that are attempting to maintain the original intention/philosophy of Bitcoin. Please explain what you mean by this, because maybe I am looking at it from the wrong perspective. I'm mostly concerned with Bitcoin being unfettered in it's original intentions and it being used without overt government interference or corruption.

I don't think the government can buy bitcoin. Bitcoin is decentralized and anonymous, and it flows around the world, and I don't think it's hard for a country's government to buy bitcoin. If bitcoin is controlled by the government, most people will opt out of bitcoin.