Bitcoin Forum

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

For instance, Nigerian government made a recent policy that band  crypto currency and its usage in the country,they even went to the extent of blocking all accounts that have ever engaged in crypto transaction but what did that lead to,it made it to be scarce in the country and all those who had it inflated there prices by adding additional amount to it and it became the most sought after crypto and its only sold on peer to peer level now

for me Bitcoin without any interpretation from the government already knows that it will provide the best potential of all time. because basically Bitcoin cannot rely on one particular institution. and the recent fact that all of those who decided to support bitcoin were due to bitcoin users having the most favorable place among economists. theoretically this is more appropriate because it is based on external factors.

Government policies actually "boost" Bitcoin adoption in some countries. It works like this.... A government will start to clamp down on Bitcoin (Crypto) use, by implementing strict regulations or even banning it. Now, this is the trigger for developers to innovate... because they immediately start to develop decentralized (Peer2Peer) markets for Crypto to enable people to use the currency on the "Underground" markets.

This is very similar to what happened with "Prohibition" in the United States when they implemented a ban on the production, importation, transportation, and sale of alcoholic. People just started smuggling alcohol on a underground network and the USA government lost millions of Dollars in taxes!  ;D ;D ;D

Definitely, it does help and even should the policies be made to favour crypto, its still going to boom. Its no doubt crypto has come to stay and its very much unstoppable because as it is, crypto is the people. The people involved in its trade and using it in transacting are those behind its success. Governments spreading hates only creates an opportunity for more awareness and with that, with the hope that they might lay off some investors, there are also others that would seek the truth before writing it off and in that instance, they get captured by the discovery that its nothing as its said to be.

Crypto is like no other and bitcoin is its symbolic currency. Lets all appraise the government for its unsolicited support in there hate.

I think for me it is not government policy that is responsible for these imaginable bitcoin and crypto growth, rather it was time for the growth. Bitcoin growth isn't even accidental because bitcoin is 10 plus and it has a record of increase after halving. Halving is very instrumental for its growth. And simply, many people, institutions are now using bitcoin. Remember PayPal and many others not even necessary to mention are now accepting bitcoin transactions. Is that simple to see price increase because of the demand and supply order.

Those policies that are against bitcoin are obviously not helping it. Instead of them making easier policies for the adoption to become quicker, they're making it difficult and that's what they think to stop bitcoin's growth.

But regardless of the rules that they create, bitcoin will always catch up the trend and no matter how hard and bad the policies that they make and it's against bitcoin, it will continue to thrive on its market.

Basically cryptocurrency happens to be a decentralized currency and as such cannot be manipulated. Its been encrypted end-to-end in that it cannot be altered or modified.

I put it to you that most political leaders making this decisions are only scaring their citizens from acquiring the huge fortune accompanied with investing in crypto industry.

Almost all politicians currently are converting their treasures into Bitcoin and other Crypto currencies. I know of a few who have market analyst who predict the direction of different coins for them before investing in them. I believe we should be guided and not allow political gurus manipulate your future by preventing you from acquiring coins for yourself

Policies and regulations can and will only affect its people and the particular region, the jurisdiction cannot do anything to bitcoin since it's global currency without central authority though it might affect the price in a short period of time with some corrections.
The only thing that can stop bitcoin growth is when internet seized to exist which isn't possible by the way. Government would continue to threaten bitcoin until one day they realize it's too late for them to stop it.

There is no doubt that the wrong government policies regarding bitcoin gave great value to Bitcoin because people always want everything that is forbidden and it is difficult to obtain it, if there were lenient policies from governments regarding bitcoin, I think that this would be of great benefit to governments in terms of regulating currencies as well as tax collection.
But I think that these policies are not what makes some people or whales own the bitcoin and control the price, even if governments legislate bitcoin and people buy bitcoin a lot, these whales will still be able to manipulate the price of bitcoin as they want because they have the money and power to do what they want.

Not clear enough. Does the price of bitcoin or any specific cryptocurrency in Nigeria higher than in other parts of the world?

In my country, the government only bans bitcoin from being used as a decent currency for payment. There is no legal protection for cryptocurrency investors if they encounter loss or cyber thieves. Nevertheless, bitcoin is freely traded without having any critical issue. The most surprising thing is that the price of any cryptocurrency (and usdt) is about 5 ~ 7% higher than the world price. I do not know whether it is because of the government law or it is a result of a free market.

Governments have no shame to do everything to safeguard their own corrupt interests, even at the expense of their own citizens and their rights or benefits ;D but, human history has a big golden period of fighting against such oppressions and I am very optimistic that we will come out of these type of anti-crypto laws as well and shine!

In some countries there is no law on bitcoin while in many countries bitcoin transactions are legal. Whales have an impact on bin the market while government policies have helped raise the price of bitcoin it has been banned in many countries and many traders have stopped investing when whales are on the market but the government cannot have any direct control. It imposes a policy on bitcoin outside the control of the government and by banning the public the higher the value of bitcoin the more government policies we see.

I have seen these many times. When one crypto exchange is not liquidate with the rest of the exchanges then people need to pay extra for the same cryptocurrency. It means there should be regular flow of money to be maintained so that the prices will be even everywhere when there will be a bottleneck then people will start inflate to make use of the demand.

For example, after Nigerian Central bank bans making use of cryptocurrencies, people started P2P trading but they were enforced to pay more than 25% for bitcoin and other reputed coins.

There are many countries that have been banned by Bitcoin investing. Many people cannot invest this bitcoin because they have officially banned bitcoin investing. Many people in many countries earn bitcoin by practicing bitcoin but they cannot invest because of their government and it is seen in the country that the government has illegal in the country. And in a country where bitcoin is legal, people from the country can earn bitcoin and invest very easily

If you were in their position, I am pretty sure that you are going to do the same, this is all just a matter of perspective. I hope that we can see that thing from happening but we all know that this politicians will only play on our side if they are going to get something out of it.

The more they regulate bitcoin, the more investors are interested into it. Governments have somehow impact with bitcoin's price movements. Like for example government imposing some controls over bitcoin probably make the trend go down.

If you'll notice, when one particular country exposed restrictions about bitcoin with of course well coordinates efforts, this might be a good reason to change the crypto market.

Its good that some countries wants to utilize Bitcoin but not every country views Cryptocurrencies that way. There are some recent news regarding the Korean Government trying to place surveillance mechanisms on bank accounts that suddenly transfers huge chunks of money. Its a bit extreme because every people has the right to earn money in their own ways but this just shows that they are scared of something that they are not expecting that some people are trying to earn so much money internationally.

Depends on which country you are on since some of politician is just adopting the good changes made by technology since blockchain is really bringing up a good potential to the system. Lets forget about corruption since if bitcoin will successfully adopted for sure it can help to build a organic growth and demand.

Although we cannot erase the possible corruption but I think it will be minimize on crypto since they don't have any control on any of it.

Yeah, you're right! People are really amazing in terms of being so smart and easy to think of ways just to pursue their goal and avoid government rules and regulations. That is why, the stricter government policies, the more people become rebellious. On the other hand, bitcoin will continue to grow more and adoption will continue to increase despite government policies and regulations or prohibitions.

At some point, we can somehow say that the government is playing dirty when it comes to bitcoin. They make sure to buid a facade that would make people believe that they are against the use of it and would never support it when in fact, they secretely storing the country's money because they are aware of the potential that bitcoin has. Though not all the government in a global scale has this kind of strategy since as we can all see, there are countries that are really against the use of bitcoin as they see it as an economic threat. On the other hand, maybe some of their policies are a part of their routine on how they can gain more benefits from bitcoin in the future.

In my opinion bitcoin will continue to grow in its market, although without government intervention, bitcoin will continue to be sought and used as an investment for people who already understand bitcoin, government policies want to help grow the price of bitcoin, which is good for driving growth in business. and builds trust among its users ..

Hard to say that the policies of the government are helping Bitcoin, most of the policies I see are trying to limit the size of bitcoin and increase the collection of user information for a major government purpose, for each such policy, this is always an opportunity for whales to destroy the market according to their wishes, the government is probably also more vandalizing than helping bitcoin. On the other hand, without the need for government policies, Bitcoin grew more evenly on a user base that was rapidly expanding in the face of government silence

A bigger picture... governments are doing things that people don't like, people will look for alternatives, for example, decentralized systems, such as Bitcoin (for example).

It's how I saw this headline and where it's heading, and I can agree with this! Governments with their policies are helping people to decide what to choose, and I am guessing (I have reasons for that) people are choosing crypto over fiat, at least people who are introduced with crypto, and what is offered by crypto!
In some way, governments are pushing people into crypto, probably unintentionally, but when they figure it out it will be probably late! Crypto future is what is coming!

I do get what you’re trying to say here, that when government bans bitcoin that a lot of people who owns then starts selling to for a higher price. Well, I won’t really say that applies much to what the market price of bitcoin and other cryptocurrencies are going to be. Whether the government is doing what they are doing or not, the cryptocurrency market will always be growing as it has been doing for a very long time.

So, I don’t think the actions that the government is taking is going to be affecting the market that much. It’s even going to make people to be a lot wiser in how they’re trading their cryptocurrency.

In this case, IMO, policies and regulations for Bitcoin by the government can make or break it.  As per your example, I don’t see any reason that it would benefit Bitcoin to go high.  It actually has a negative effect on the Nigerian user on which they had to transact peer to peer and be considered as illegal traders well in fact that it’s not.

Not all people would risk their lives to be sued because of using cryptocurrencies.  And peer-to-peer transactions are too risky, especially with greater numbers.  If not risky, it might also be very complex and you had to build a profound system in order to clean your cryptocurrency and that requires a lot of work, indeed.

How can a government store money when in fact these money are from the taxes of all people they have collected. They may make lots of money but the aftereffect of that is they will suffer from the inflation in the end. And you know what disaster could bring with that inflation to their economy.

Let these government make their new rules and regulations it still can't touch Bitcoin since it's decentralized and I'm aware that they are after to those who used crypto to convert fiat and that was the exchanges. Without these exchanges people wouldn't be trading crypto to fiat but that's not the end since everyone can use crypto currency for buying stuff if these exchanges offer something and of course, they will offer something since they knew that fiat is losing its value soon due to inflation.

The big problem when governments try to stop Bitcoin is that they cannot do it. They will always fail because Bitcoin is no company or organization or anything which they could just disintegrate. Moreover, the people are very much aware of this. And since they know that Bitcoin is here to stay, they will do their best to still have access to it despite their government's prohibition. This leads to Bitcoin being some sort of an illegal yet highly coveted precious asset or store of value. This leads to a rising premium.

Governments may not necessarily push the price of Bitcoin up, but if they will ban it they are simply making it more expensive to their own citizens. It is futile. After all, their citizens won't stop from having it.

Yes the government made that move to stop Banks and other financial institutions from dealing with cryptocurrencies but I wouldn't say that this lead to it been scarce and increase in the price. Firstly, most Nigerians deal their crypto in exchanges and I strongly believe Binance is one most Nigerian deal on and even had a local currency pair there so if all bitcoin and other Alts been traded on exchange how was there a scarcity of crypto? because I never read any thing relating to scarcity.

Secondly, I also didn't read or hear about increase in bitcoin price because of the Nigerian government policy. Even though the policy was in place, some people were already use to using p2p and just became the go to option since the announcement.

The only thing that the policy changed was just your ability to do a direct withdrawal to your back account from the exchange nothing more.

In the particular case of Venezuela, things are different, although the activity of cryptocurrencies and bitcoin is not regulated, there is a certain regulation in the mining of Bitcoin, since it makes them register in SUNACRIP (National Superintendency of Criptoactivos and Related Activities) to have a control data and those who do not, are in danger of suffering certain threats and intimidation by the State security forces. So far the trading activity is not regulated, the government manages Bitcoin because it is the only way to evade the different blocks that exist with respect to the economy with other countries.

It is normal for governments to try to take control, although for the business model that Bitcoin implements it turns out to be favorable for the government of Venezuela, which has a totally uncontrollable economy and a regulation for those who operate, it does not apply, in this case Venezuela is to be a tax haven for Bitcoin and cryptocurrencies, because their local currency is really worth nothing, that is why this type of exit is well seen so far.

Yes, by the scenario governments are indirectly helping bitcoin value appreciation on their own country. Moreover, governments must work on milking out of all crypto involved business rather than prohibiting it. Because, when something is completely out of their control then they must work on all the possibilities of finding methods to make use of.

I believe most governments will go for studying on the consequence of banning bitcoin and other cryptocurrencies and then they will either stay positive against cryptocurrencies or at least neutral.

By seriously studying Bitcoin, governments will eventually realize that it is futile to even attempt to control it. And you don't exert effort against an innovation you cannot stop.

Just recently, Commissioner Hester Peirce of SEC was asked if there is a step taken or a plan by the fresh Biden administration to put a ban on Bitcoin. And she responded, "It's really difficult to ban a technology that's peer-to-peer."^[1]

I agree, they better try to milk Bitcoin by way of putting up tax regulations however elusive it may of full taxation.

[1] https://video.foxbusiness.com/v/6249902610001

There are only 50% chances as everything could be done under P2P which means governments and their central bank will lose all the control because P2P may evolve like decentralized exchanges and decentralized  marketplace. Still in marketplace, I guess governments may innovate new ideas to monitor and control for taxation hence if they ban then no benefits and if they stay neutral or positive then there are possibilities for generating revenues.

Overall, it seems governments left only with that option against cryptocurrencies. It would be "accept or die" kind of situation for governments.

     The scope of this post is quite wide but the point is easy to see. What I may add is that no matter what happens, bitcoin flourishes. Whether it is being bullied by banks, governments and influencial people or being raised up by some of them, bitcoin never went extinct and has become, what it is today making the people who called it ponzi or scam eat their own words and invest on the very thing that they have talked trash about.

These policies makes bitcoin known for other who doesn't. These setbacks by governments are just precautions that cryptocurrency is volatile and you might lost some of your hard earned money but those who have experience will not hesitate.

Indeed it does. But that still depends widely on which country you currently are located. Because even if the price of bitcoin is global, not all countries have the same culture. Hence, all have different backgrounds, perspectives and ways of reacting to various things. And if it so happened that most of these people had closed minds, then bitcoin wouldn't have been the way it is today.

Yap, that's why my government didn't forbid the crypto investment in my country because they get the benefit of every transactions that happen in the exchangers. Tax that is collected from the exchangers can be used for many programs of government. Even my president said that learning about crypto is important for millenials. I really appreciate my president talks about freedom in investment.

Perhaps this has to do with how "media" keeps Bitcoin from being a hot topic, both in terms of negatives and positives. As we know that whatever method is used, however, the news is, sometimes we don't need to see negative or positive news. However, it is more to the effect of the news. Doesn't the more news that raises a country's opposition to Bitcoin makes BTC even more famous? So that more and more people, institutions, and public figures are curious and interested in exploring it.

You can also add that the Turkish government recently banned the use of cryptocurrency as a means of payment. Russia is doing the same and India intends to do the same. So it's not so simple with the circulation of cryptocurrency as money.
Governments are now taking a closer look at Bitcoin and cryptocurrency in general. It is possible that if the cryptocurrency will have an impact on the global financial system in the future, then the governments will unite in order to regulate it more stringently. Some high officials are already calling for this.

This is the point because it comes into the news often whether for positive or negative and it brings people interest into it to go for research and then the research opens people to more positive side of it. Yes I think the media is doing more good to bitcoin than we think. When the government makes a negative information about bitcoin, it is analysed both ways and people are knowledgeable enough to know what they want and they continue the use of P2P which is even getting very effective now.

This very much so. If the US banned bitcoin and made it illegal, do you think that would help the price or tank the price? The obvious answer is it would destroy the price. A high price is predicated on it being easy to obtain and not bringing adverse legal consequences.


Much less convinced about this. If the US makes it illegal, it's going to destroy the price and a lot of interest in it.  It won't kill it off entirely, but it's not going to be a robust ecosystem when it has to function in entirely in the dark.

This happens with everything, governments think that by going hard against something they are somehow going to convince people to stop using it and this could not be more wrong, if there is a demand for a product for whatever reason governments cannot simply ban it and think everything is going to end there, this is simply going to create a black market that will drive the price of that product many times higher, this is something that is widely known and it is seems is happening in Nigeria as well for what we can see.

Those are all examples of how governments punish bitcoin (or crypto) and not help to grow it. If we are looking for any help to grow, we can guess because there are none that is well known. For example USA is doing fine, obviously it is state by state basis and federally there hasn't been much talk aside from not banning it at least. But while some see it as great, some do not support it or do anything about it.

It means places like Ohio, Miami, Texas and California grows in number of places that work with crypto because of how supportive those places are, while others do not see it as something great, they see it as a place that basically has legal law to keep it going but that's it. Which means even if nothing on law, if someone important in any nation, a president, a minister, anyone comes out and says something nice, even that helps out a lot for bitcoin.

Government can regulate cryptocurrency tighter than it currently is but they still can't control it. Its use as a mean of payment is prohibited because they think it is inappropriate and violate applicable regulation, this has hindered the adoption of crypto, especially bitcoin in these countries. The same situation applies in my country, but they never forbid us from trading it because crypto trading activity has been legalized as a regulated commodity asset.

Government policy or no policy all i want is Cryptocurrency in Nigeria should be legalized after all its not fraud

You mean people will adopt more when government regulating hits on are other ways bitcoin can be used? I guess that is not a big thing for people these days as we have lots of resources to check and innovate where we need bitcoin and how to make use of it efficiently.

I guess most people will get to know bitcoins when governments start talk about it; yeah that is kind of situation in my country at least. Where people are lagging with latest technology, government policies make people to know what are happening in technological world.

Of course, if the government legalizes bitcoin as a legal means of payment, then bitcoin adoption will automatically increase. However, because several countries such as Turkey, Russia, Indonesia and several other countries still prohibit it, bitcoin adoption there is hampered. But because bitcoin doesn't just function as currency, it's still possible for us to profit from trading.

True, at least the government and its opinion about bitcoin have brought a lot of people here.

The prohibition of Bitcoin in these countries is not related to the fear that Bitcoin could supplant the national currency. The countries listed by you have a rather large shadow economy, therefore, such measures are taken solely in order to slow down the outflow of capital to the uncontrolled financial sector, so to speak. Well, of course, this is also a question of psychology ... if you forbid people to do / buy something, they will do exactly the opposite.

if the government has discussed BTC, it means that the national media, both printed and electronic, will definitely highlight it. of course this will increasingly reach many people, and more and more people will know about cryptocurrency.
the good news, if the government supports cryptocurrency trading it will have a positive impact, on the contrary if there is a related ban it will usually cause a decline, especially if the news is issued by an influential country.

Of course the government's decision will have a big effect on the price of Bitcoin, as you have said if it turns out that the government
supports cryptocurrency and reported by many media. So I believe the Bitcoin price will go up very high, because it will make a lot of people
more confident about investing in Bitcoin. And some people who are not familiar with Bitcoin, will slowly start learning Bitcoin and there will be
a very fast mass adoption. The role of the government is indeed important to make the Bitcoin price go up very high, therefore I hope
all countries can accept cryptocurrency. But the fact is that now there are still some countries that reject cryptocurrency.

Bitcoin and some other crypto currency come to stay because the trust the crypto community had in Bitcoin and how selfless Satoshi Nakamoto used when and after creating Bitcoin because the plan of some world leader that are against Bitcoin was to make it died that's why people like Paypal ex CEO compare Bitcoin to his autograph.

Of course it is, the truth is the people inside a one country will definitely going to trust a one thing that was new in the system if the government itself introduce it to their peopl. So yeah the government has a big part to the grow of price of bitcoin if ever the government of the said country are open minded to welcome cryptocurrency as one of the means of currency circulating inside their nation.
But as also expected there are some countries that are not interested with adopting bitcoin like Russia and others.

The opposition that occurs against bitcoin is because the system used by bitcoin is contrary to the system used by the government, while the government does not want to lose control, therefore it is only natural that some countries oppose it, but time will prove that with the increasingly solid bitcoin community in the world who wants bitcoin to remain on purpose the main thing

I think that after the recent rally in the bitcoin market many governments realised how big the market really is. There is no way to fight it anymore, better to regulate and tax it. So most countries want to get a piece of the crypto pie. Which is a good thing. For us investors it is good to have more certainty about laws. With the correct framework we are protected more and can plan better for the future

Some government sees the great thing about Bitcoin, and it helps their people. In my country, government are very active in the security of its people about cryptocurrency. They already make some regulations and created guidelines to avoid from being scams. They also make a list of legitimate companies registered to them in order for the people to buy and sell cryptocurrency. A lot of remittance centers and stores already accept cryptocurrencies here. Government’s decision has a big impact in the cryptocurrency. I hope countries see the significant thing about bitcoin and continue to support it.

When there is not much of competition in the market with low liquidity then the traders will set the prices higher than the actual market price and it happens on local exchanges and peer to peer platforms, while where cryptos are highly used and banks try to ban the exchanges then peer to peer is the only choice when the price will be too high than compared to normal prices due to increased demand.

Yes i'm pretty sure that if US is the one who made negative regulation or policy regarding bitcoin, then it will really end bitcoin. Many countries already ban or made bitcoin illegal, but still bitcoin can be as high as it is now. But since US market is so big, and they're so influential i bet their regulation will really impact bitcoin as well. Good thing that so far US has not done anything to ban bitcoin or made it illegal. Government regulation will surely affect bitcoin, but how big the impact is determined by the influence of the country too i guess.

This shows what they really fear from bitcoin, they are not afraid of bitcoin becoming a valuable asset, they are not scared of bitcoin becoming a store of value and displacing gold as the main form of protecting your wealth, what they are really scared about bitcoin is of bitcoin behaving like a currency and that eventually displaces their own fiat currencies and they lose all the power those fiat currencies confer to them and as such they lose the tight control of the economy they have now.

Absolutely, the operating system of Bitcoin which is contrary to the government is the reason why most communist and corrupt government don't want to support Bitcoin but the solid growth of the Bitcoin community is not what's changing the mind of some government that was once against Bitcoin.



To be sincere, all the governments understand and see the great thing in Bitcoin because the IMF boss has told them that digital currency is the answer to the economic meltdown and they were also advised by the IMF boss to consider crypto but they just don't like the decentralization of Bitcoin.

You can't be afraid of bitcoin as a competitor to your fiat currency in only two cases. First, when your fiat currency is the world's reserve currency and therefore the additional amount of liquidity can not significantly affect the monetary policy of your state. In the second case, you have such a weak and uncontrolled economy that the monetary policy of your state has no influence on economic processes. Therefore, I fully understand the concerns and even prohibitions of many states on the use of bitcoin as a means of payment, and not as a financial or property asset.

Really depends on the stance of the government towards bitcoin or cryptocurrency as a whole, if they are in favor then the policies are going to be really good for the prices of market but if it was the other way around then it will be a different story because some opposing policies might have adverse effects.

I think the main factor of the government that helps the development of bitcoin is that currently it is not so badly prohibited from using it, even though it is not a means of payment. at least bitcoin is in the market, which is parallel to stocks, even many investors leave stocks to switch to crypto currency

They may also help to dump btc. We may see on big dudmp if the major countries will make it illigal

If government policies help raise the price of bitcoin it will have no effect on bitcoin. The government cannot control this currency although many countries have banned this currency they are supporting crypto because of the high price of bitcoin investment will become profitable for economic development currently it is pushing up the price of bitcoin even more in some countries there is no law on bitcoin, while in many countries bitcoin transactions are legal. But economists and other stakeholders around the world are risky to invest in cryptocurrencies as their value increases and commas change rapidly.

If the governments want to increase the price of bitcoin, they can do it in just one single day. What they have to do, get the president of that nation, it would be better if it is a big nation like USA or UK or anything like that, let them say "bitcoin and blockchain are a wonderful technology, we as a government will try to implement that as much as possible into government branches" or anything else that is as positive as that, start with allowing people to pay taxes in crypto. That's it, you need nothing else, if you do this, if Biden for example or Boris comes out and says this, that's it, that's done, we are talking about basically bitcoin doubling in a week if that happened.

If they say they are planning on putting some bitcoin into national reserves? That's like dream come true for all of us, we will go over 200k+ very easily if that was done.

I don't think we will see that kind of approach very soon. Most governments want full control of their financial aspect of things. With bitcoin or other cryptocurrency, it would be hard for them to have full control. This is the reason why many governments are banning or not legalizing the use of bitcoin, because they don't have the full control of it. Some will just make a reason that it may be used for fraudulent activities, but so with fiat currency. But the difference with fiat, is that they have the full control of its circulation. Whereas, with bitcoin, they will not have the full control of it, but they can regulate the use of it.

In fact, since the beginning the government has always opposed the presence of Bitcoin, even the government is trying to kill Bitcoin,
so as not to endanger fiat. The government does it all because they are frustrated that they cannot control Bitcoin, therefore some countries
choose to reject Bitcoin, by deeming Bitcoin illegal. But there have been many attempts by the government to make Bitcoin look bad and hope
Bitcoin dies, but unfortunately Bitcoin has survived until now. Even the price of Bitcoin is getting more expensive and the demand is getting higher.
So finally some countries started realizing that it was impossible to beat Bitcoin, eventually some countries started accepting Bitcoin with
certain limits, for example only accepting Bitcoin as a digital asset. But this has been very good progress, I even believe that in the future
all countries will accept Bitcoin.

boost in some country, not all country. some of them just take money from like tax for crypto user. they admit how strong bitcoin, but no action for future. and im not sure if they can make bigger it price from that 'policy'.
some party will try to erase this stuff because they can make them shake. but, as time go by, this party will follow this flow, not for increasing the quality, but just for personal gain.

More om personal gais and not for boosing the entire ecosystem. If only they really care about the system

and not just for the taxes that they'll get after  some implementations of any rules that they'll think that

benefits them. But logically right, once government shows interest then there are many factors that may

affects the value of Bitcoin, wait and hope for the betterment.

Yeah, Bitcoin will be fully accepted across the world, some countries might not ready to accept Bitcoin but eventually, their mind will change as every country accept it, to put it simply it is just a matter of time they could impose some regulations, of course, like imposing a tax or something. They hate crypto because they cannot able to control but I do believe that some of them even use it for their personal gains cause we know how much really it can provide. Besides even if they impose a ban on it there will be still some ways to access it that is why crypto adaptation is inevitable.

That is a factor however if we begin to think about this and we imagine the opposite scenario, what would happened if they actually made bitcoin illegal? Will this stop people from using it? I doubt it, the price will go down for sure and many people will lose money and get scared but bitcoin as a concept will still be alive and well and if anything it will become more of a currency as people will use it to exchange products and services instead of being an asset which people trade which is its more popular use today.

This happens before wher many countries banned Crypto in it's earlier days. The price keeps dropping whenever there are countries who said to ban the use of crypto like exchanges as well it's implementation. But later on when Singapore, Japan and other developed countries uses crypto in their government banning seems gone and it's okay to use that makes more of adoption. Well government do really helps by not doing anything on it like stopping the banning and just letting their people use it as well by authorising some organisations to conduct crypto related work.

Maybe it will take several decades for Bitcoin to be accepted by all countries in the world, because currently there are still many countries that
are not ready to accept Bitcoin. And I agree with you, some government officials must be secretly investing in Bitcoin for personal gain.
Because surely these government officials know the potential profit that Bitcoin can generate is enormous. But they do it secretly, this is one of
the advantages of Bitcoin, we don't need to give our identity to buy Bitcoin.

maybe on the one hand government officials use bad funds to invest in bitcoin and they safely keep it quietly so as not to be traced. so they strongly oppose the existence of bitcoin because it will take away their paradise in saving money and investing. This was what the central government worried about at the beginning of the bitcoin boom, because it would be used for bad things by unscrupulous government officials

Perhaps in some Western European countries it is, but if we consider the average corrupt official on a global scale, then this statement is incorrect. The thing is that the political system of most countries lags behind the leading countries of the world by 20-50 years. This is one of the reasons why such officials care little about the situation with surveillance and regulation of cryptocurrencies, since by the time the law really works, they will all be retired long ago.

You are bound to pay your taxes for the money you earn through cryptocurrency and there is way around that unless you are making direct cash deals which is highly risky and regulating the market means the exchanges that are run should be regulated and monitored so that they are held responsible for their actions and we wont hear about exchange owners running away with the money.

A government can regulate the market and it is possible for them to monitor the exchanges running in their country and since all of the exchanges have mandatory KYC it is impossible to hide behind a change address. What i am trying to tell is that basically if a government wants they can control the market up to an extend especially for the transaction taking place in their jurisdiction.

doubt, i know it makes crypto in general looks a lot more legit than being left unregulated but too excessive regulation that gives strict rules to crypto users in general also could have a huge backlash to bitcoin community overall, the tax on capital gains that was proposed earlier this before this month could already shake the market into dumping about 10% you can imagine if the government trying to corner crypto users it could have bad effect overall in the long term, i prefer a not excessive regulation for crypto so it could keep cryptocurrency at the right direction while not causing burden to the people who uses it.

Taxation is the only way a government may benefit out of cryptocurrencies. I agree only few countries so far took positive stand against bitcoins and other cryptocurrencies but if you notice where governments are in negative stand then there bitcoin prices are soaring.

I speculate most governments will decide about their policy against cryptocurrencies when it will become too big and too strong until then they may not bother it.

I guess we cannot do anything on that. Some governments are going too ease against cryptocurrencies but most others are planning something which may be excessive regulation or may not.

You don't have to worry about it for at least another 10 years ... since tax control in this case will apply only to those who have passed KYC, which means that the exchanges will have to work closely with the tax authorities. Knowing this, an ordinary ordinary user will bypass such Exchanges, which of course will negatively affect their business, (you can be content with the existing tax rules, giving away a certain percentage of the assets only after conversion into the national currency).

The government may still be planning a centralization for bitcoin, but they don't have the power to do so. KYC is one of the rule that is imposed on every user who is subject to government regulation and that is how they control abuse. Right now, I don't think the government will impose stricter rule on bitcoin. It may cost them no income tax benefit. However, everything is still possible if the bitcoin abuse continues to increase from year to year.

Your observation makes sense, because nowadays it is increasingly difficult to hide the proceeds of crime. And some corrupt government officials
might launder their money by buying Bitcoin. Therefore some countries are still hesitant to legalize Bitcoin, but Bitcoin transactions should be easy
to trace if it is true that corrupt money is bought Bitcoin. Because transactions with Bitcoin are transparent and traceable via the blockchain network,
or some countries are not yet good at the cyber crime division in tracking crimes in the online world.

I agree on what you stated. Government keep on pushing the cryptocurrency away, thinking they'll be able to control its widespread. They are not aware that they are actually helping it prosper by their policies and regulations. In fact, because of their blatant rejection of crypto, it has gained attention from the media. There are news and articles circulating online about what cryptocurrency is and its potential. This makes the crowd draw their concentration to what it has to offer, leading to more users and investors in cryptocurrency.

Bitcoin can't be manipulated and be enclosed inside the box by anyone else. It will surely bloom and thrive sooner or later. Government can do nothing about it. The more they hamper its growth, the more it will persist to soar.

government policies that can help grow the price of bitcoin are only policies that have a positive side to bitcoin such as examples of countries legalizing crypto. it has a positive effect for crypto especially bitcoin because global responds well, so don't expect bitcoin price to grow if the government has rules that hinder bitcoin. even though bitcoin is completely unregulated by the state but it is bound to be hampered

To date, in most cases, the government has not taken any steps to legalize the cryptocurrency, as well as to adopt the relevant legislation for the legal regulation of the cryptocurrency industry. After all, it is these steps that can positively affect the growth of Bitcoin and other cryptocurrencies. But today we see only different attacks by governments, as well as statements by certain officials who cover the entire cryptocurrency market with a negative shadow, and such facts always negatively affect the rate of cryptocurrencies.

Well, you’re kinda correct. But I don’t think any one of us would like to be living in a country where the government has banned cryptocurrency. That’s not the kind of place I would like to live in. But whether they ban it or not, the price of cryptocurrencies will always grow. I think the governments are the ones that are losing in this case. And also because people can still buy and sell it by using peer to peer, so what sense is it going to make when they ban it?

My next reason for saying that the government is losing is this: when there is a law that allows the growth of cryptocurrency in the country, there will be companies that will get into it, and the ones that are already existing will expand to it, and that means more job opportunities and also growth, the government will as well receive taxes from these companies.

Legalization is just a way of bringing bitcoin to a certain level of publicity, sometimes it doesn't have too much of an impact because even without legalization, Bitcoin can also rise in the most natural way, look at which bitcoin is rising right now, all are magic at the hands of all of us, governments are also unstoppable. Policy is just too old topics, if they come up with strategies that will probably help the value of bitcoin more, establishing such public regimes, obviously making no sense.

I do not think as pessimistic as you do. I mean sure there are nations that has banned bitcoin, banned mining, banned whatever related to crypto and those nations do make it harder for us to buy crypto if we are in that nation. However look at USA and European nations, those places are basically just doing whatever they want to and that is the important part, if they really want to they could have banned it as well and they did not, now they are even supporting it.

So that means even though there are few nations that do not look kindly on bitcoin, there are more nations that support crypto revolution and regulate it very well so that is a good thing. I am not saying that what the other nations are doing would be good, banning it is very bad for us, but if we just look at the bad side we will see bad things, if we can also look at the good nations we can be optimistic about it.

I agree with your opinion, countries around the world do not ban bitcoin. The circulation of bitcoin in the world to date has increased every year and is sometimes pressured by several countries so that bitcoin is not too popular and beats conventional finance.

Policies made by bitcoin suppressing countries are not always bad, possibly with these policies making bitcoin and crypto miners more innovative for crypto developments in the future.

I couldn't agree with you more. Here's what I think, Bitcoin is a Phoenix. It will always rise above the ashes (government policies). The  cryptocurrency  market  grew  from  a  $1.5  billion  market capitalization  in  early  2013  to  over  $795  billion  in  January  2018 despite the regulatory attempts by several governments. I mean, see the good Bitcoin and cryptocurrency is doing in El Salvador, in Cuba, Nigeria and in India (in fighting covid-19). It's super important to note that the saying, "if you can't beat them join them" is the reason why several governments are trying to introduce their own central bank digital currency (CBDC)


Global Charts  –  Total  Market  Capitalization,  COINMARKETCAP, https://coinmarketcap.com/charts/  (last  visited  Jan.  11,  2018).

I didn't understand what you mean at all. Politicians' policy to make bitcoin the most demanded currency?
But it was before politicians, Bitcoin was the most coveted and remains now, if we take things in general. Although I personally find it difficult to come up with a use for it in the future without a speculative nature.

Their policies have given bitcoin more exposure than the policy that's intended to shorten the space of bitcoin to their countries.

I don't find anything hard on it for using it now. So if it's easy to use it right now then there's no problem in the future that on how we're going to use bitcoin.

It's already there and various use that it can done by us.

Yes, if we talk about this moment in time, then we can really only talk about the speculative nature of bitcoin as an asset, but let's not forget that bitcoin is clearly not intended for this, but for completely different purposes, such as performing some functions of fiat currencies. I don't think that in reality bitcoin and other decentralized currencies can displace or even displace traditional fiat currencies in large states, because the governments of these states simply won't allow it, but in small countries like El Salvador this may well happen and bitcoin may occupy a sufficient share in financial calculations. At least bitcoin is quite effective and useful for cross-border transfers of individuals in many cases.

This topic is too untargeted. I didn’t say which country’s government policies are beneficial to cryptocurrency, otherwise I don’t know where to start.
However, the national government's policies have always had a great impact on the encryption field. For example, a small country in El Salvador uses Bitcoin as a payment currency. Although El Salvador is a small country, its influence on the international stage is still great.
If it is a favorable policy for the cryptocurrency market, it will definitely cause the market trend to rise. Of course, unfavorable news can also cause market panic.

The government's decision will have a great impact on the price of Bitcoin.
Some areas will prohibit the use of Bitcoin because the system used by Bitcoin is the opposite of the system used by the government, and the government does not want to lose control, but also to limit black money and track illegal financial activities such as money laundering or tax evasion.
If the government strongly supports Bitcoin, the people in the country will surely believe in the new things in the system, the more investors are interested in it, and people's demand for it will increase, which will push the price of Bitcoin to rise.

The government's policies will definitely have a boosting effect. Investors and cryptocurrency enthusiasts in the market will have emotions because of some good news or policies. These are all factors that drive prices. With the government's policy support, they will encourage people to have the idea of joining cryptocurrency.
Although not every government supports Bitcoin, with the development of Bitcoin, more and more people are familiar with encryption and enter the market. The future can be expected.

Government policies can indeed affect Bitcoin, but if all governments accept Bitcoin, it is now unrealistic. Many countries have banned Bitcoin (this will not kill Bitcoin).
The survival of Bitcoin does not depend on the government or the country. If other companies indicate the use of Bitcoin or prohibit the use of Bitcoin, this will have no effect on Bitcoin.
Bitcoin will become more and more popular. It will become more and more valuable.

Not every country is on the side of support. Of course, countries that support Bitcoin will have a beneficial impact on Bitcoin, and government intervention will more or less bring growth or decline to the crypto market. But I think that in the future, the government may hold objections in the majority.

Yes more positive government policies like El salvador accepting bitcoin as a legal tender can help to grow the price of bitcoin as it will promote mass adoption of bitcoin. Negative policies like China bans Bitcoin mining can do the exact opposite, we expect a dump. Typically, every good trader pay attention to the news to see where the market is shifting to. For the record I believe there are more negative government policies against Bitcoin

The government is scared of cryptocurrencies because they can't control the technology behind the movement of funds. The best they can do is regulating the body of the network by imposing strict rules on registered exchanges. Reason theew are introduction of KYCs to check the activities carried out on your accounts. A country has positive or negative effect on the existence of cryptocurrencies banning it and adopting it are some of the examples of such.

I think no matter which side that a country is on, it's going to be beneficial for them, it's just a matter of perspective, think about it, if they don't support it, they can control the population much easier since they don't exactly have the freedom to get out of being oppressed.

Both good and bad reforms will help bitcoin price to grow regardless of what they do. In a scenario were the government chooses to ban it, this just promotes people to be innovative enough to create a network where they will sell for much higher prices than its market price making the price of btc in that country high.

For countries that have made crypto welcome because of good government policies it's not a matter of inflated or exgaratted pricing, but demand that will influence price to go up.

I saw the notice and the name of this thread and remembered that after the Chinese ban, Ukraine became quite attractive for mining with its fixed electricity price. I have not gone into details of the cost of energy in other countries, but the price of 0.06 cents/k-watt seems to me quite attractive.

And given the fact that the government and the leaders of the energy sector are quite corrupt, (in the sense that if you are with money you have a place to maneuver) ... I would not be surprised if Ukraine becomes one of the top three in the near future ^{[So, I also decided to think about becoming a miner]} :)

but I think if the government gives a good policy on bitcoin, of course it will make people have to obey it, and of course it will have little or much effect on bitcoin. We can see that when China banned bitcoin mining, and people obeyed it, the bitcoin price went down again. and we can imagine otherwise if many countries support bitcoin, then people will move to use bitcoin

It didn't happen in China when they banned bitcoin.  People rushed to get out of bitcoin so fast that the price dropped from $60k to $30k in a very short amount of time.  Banning bitcoin will not lead to a higher price because it greatly reduces demand for bitcoin as people start complying with the law.

Government support for Bitcoin can indeed help Bitcoin.
Let more people know about Bitcoin.
It is also helpful to increase the price of Bitcoin.
However, it seems that it will take some time for governments around the world to support Bitcoin.
There are also countries that have not recognized Bitcoin since the beginning.

I don't expect much, as long as they don't ban their people from trading, mining and hoarding Bitcoin. I remember how China suppressed Bitcoin. It leaves bad short-term consequences for the market. If countries have a loosening policy with cryptocurrencies, this is certainly an opportunity for the cryptocurrency market to expand and expand its capitalization to compete with financial markets such as stocks and commodities.

That had a short term impact but we have moved above 52k just recently. We may have dropped down a bit now again, but we always recover, so there could be some stuff that seem like it drops the price but in the long run it doesn't really drop the price as much as you imagine, it just corrects the price. Plus the reason why china had such a big impact was the fact that we were already way too high, if it was 10k then the drop wouldn't be too much, but since it was 60k then the price started to go down like a crashing matter.

Nobody cared when we were at 10k and dropped to 5k or 6k because that happened frequently and that is 40-50% drop as well, but when you drop from 60k to 30k everyone got scared, it is the same amount in percentage but it is 30k drop. Do not be worried ALL regulations have benefits, this one allows us to have less miner control over bitcoin as well.

Government policies will only make more people aware of bitcoin, and not all national policies can be conducive to the rise of bitcoin prices.
Some countries have a positive attitude towards bitcoin. They accept the use of bitcoin and even legalize it, which is conducive to the increase in the value of bitcoin.
Some countries have been opposed to bitcoin. They will formulate policies to combat bitcoin and prohibit the use of it. This has a negative impact on bitcoin. It is not conducive to the widespread popularity and development of bitcoin in the country.

Government is the problem of this coins currently, they have an interior plans to make cryptocurrency to die off, and we know this will not exist even though they tried to plan for their own it can't be like cryptocurrency because government coin can be regulate by the section or sub Branch of government arms.

Definitely there are many wrong policies and ways which are helping bitcoin and crypto to grow and develop in good ways because they are working to ban or restrict, and It's bring some new technology governments have to shame for their role in safeguard their own corrupt interest.

In this all still there are many countries those are interested to use bitcoin and bringing some soft and better legislation for their peoples. But overall we are facing some serious threats as well because recently in many countries they are controlling banking system and other financial institutions for checking bitcoin related business for punishment.

Not all of them are helpful in growing the price of bitcoin, remember that some of them are regulations that can cause the people to be scared and might sell their bitcoin prematurely to evade some of the clauses in the regulation before they are enforced.

I believe that this is simply a ban on bitcoin, but on the plus side, there are a few countries that have legalized bitcoin and others that are planning to do so in the near future. Now that is really good for the price because they will buy bitcoin, though we don't know what their regulations are because I am from a country where bitcoin is still illegal nor legal.

this is real right now because before bitcoin was famous as it is today and before the whole world started hype with bitcoin, the price of bitcoin had gone through an upward phase. even when the price of bitcoin is high governments around the world have started to seriously look at the development of bitcoin. There are pros and cons to bitcoin.
From this case it can be concluded that if the government actually can't influence anything about bitcoin, pure bitcoin develops and runs according to the market.