The Government Must be Winning!

[iamTom123]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

Tell me your convictions and dreams regarding Bitcoin.

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[peter0425]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

Tell me your convictions and dreams regarding Bitcoin.

Personally, I don't think we are in the losing side. This war will be on and long. Its gonna be a battle of attrition. However, it will evolved and we are going to adapt to the ever changing government stance against bitcoin. They have been openly declaring war on the crypto world ever since it gained prominence amongst us. But they can't stop it. I think the announcement coming from the Chinese government may have inadvertently trigger the price to go down. But I do believe that we can recover again and we may see this cycle again once other government follow suit. But as I have said, its really up to us on how we gonna adapt in this trying times. Are we gonna let them shattered our dreams? or are we going to continue to support bitcoin and crypto ecosystem in general?

[qiman]

We do not need just the governments to be enemies to Bitcoiners. Scammers, bad developers, thieves, hackers, aggressive market manipulators, day traders/scalpers and pump and dump groups are also the enemies within. Unless we can curb all the bad influences inside of Bitcoin and Altcoin spaces, do not think for one moment that all this will be left so unregulated and unnoticed. If we cannot self regulate our actions to act responsibly and not be so utterly ruthless and selfish in our quest for wealth creation, then we will end up being regulated by bigger forces than us.

[mrcash02]

It's an easy war for the government. They say, everyone follows what they order. One of two persons can decline and follow their own convictions, but they are too weak and have no power against the government. If governments want Bitcoin illegal or regulated, it will be. For most people the war didn't start yet, but when it starts the winner will be always the strongest side, the government.

[audaciousbeing]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

Tell me your convictions and dreams regarding Bitcoin.

That's exactly what I have shared when someone people were commenting that government cannot stop bitcoin or shut down the internet without knowing that they don't even need to go that far but just a single policy might shake the market but now we see but at the same time, if bitcoin price does not respond the news I will be worried it shows bitcoin is still growing and no infallible.

[bitbunnny]

I really think that governments have gave up fighting Bitcoin. Maybe they are not embracing it and introducing it fully into system but modern governments in civilized countries will not declare Bitcoin illegal, not anymore. Believe me, this whole negative relation between government and Bitcoin will change soon.

[LenyaPoker]

Bitcoin will never be illegal. A lot of people from government from any country already use bitcoins

[IamHigh]

I really think that governments have gave up fighting Bitcoin. Maybe they are not embracing it and introducing it fully into system but modern governments in civilized countries will not declare Bitcoin illegal, not anymore. Believe me, this whole negative relation between government and Bitcoin will change soon.

They will never give up. They're literally fighting with bitcoin and alt coins. I've never anticipated that they could be winning, but this time central organizations are in front of blockchain community.

[maeusi]

The freedom of Bitcoin from governments ended with taxes. Most governments, I guess, are not intetested to battle Bitcoins because of huge profits.

[darkangel11]

Governments rarely agree on anything. There's a constant rivalry between them. Even if their leaders smile and shake hands it's just for show.
That is why I'm not afraid of a global anti bitcoin agreement. If some countries decided to ban it they'd be making it more profitable for others to accept it.
With Japan accepting it and other countries like Vietnam waiting in line, regulation in the US and EU having nothing against it,  it's just not going to happen.

[Bunsomjelican]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

Tell me your convictions and dreams regarding Bitcoin.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?
  - This won't be happen for sure, because if you know what happened before in Russia and China these both country they banned bitcoin, right? but in a short period of time they revoked it. Instead, they'll ride on the trend also they adopt the system of bitcoin up to now. And for sure in the near future there are more nations are preparing themselves to make bitcoin legalize to their own country as what Japan did a couple of months ago.

[deejhay]

That may be true, for now. If bitcoin could have lots of supporter from every country, then we stand a chance againts the government. When talking about national, the majority of people always hold the power.

[bobri]

The western government will never  fight bitcoins and the crypto currency. ATMs, more usage of coins.

Developing countries are always problem, with China blocking cios, crypto currencies. The

[Fappanu]

There is nothing wrong with what the Chinese government has done. Because the ICOs are really harmful because they are purely scams. Many people lose money because of that, and of course the government has to be involved. Because I think it's still going to work, the number of robbers is likely to increase. The china is well done that stops the ICO and not the bitcoins itself

[Bittoshi]

The Chinese government plans to ban risky ICOs but not crypto currencies as a whole (at least this is what I understand). Of course they try to regulate and control everything. Let's hope that they will not declare Bitcoin&Co illegal on day. This would drive the whole crypto scene into the underground.

[Wind_FURY]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

Because that is what it all was. A dream. Whoever said we can get away from the oppressive nature of the government is dreaming. We should wake up and accept our fate.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

It is not a battle. Those are panic sellers who dumped in the market making the price go down. The government only did their jobs to ban crowdsales because they are illegal.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

With or without Bitcoin, they always win. Look at human history, the oppressors always enslave the oppressed.

[mevmike]

There is nothing wrong with what the Chinese government has done. Because the ICOs are really harmful because they are purely scams. Many people lose money because of that, and of course the government has to be involved. Because I think it's still going to work, the number of robbers is likely to increase. The china is well done that stops the ICO and not the bitcoins itself

I agree with what you have said...
The China's step was not intended to kill Bitcoin or cryptocurrency as a whole....
It is done with the primordial concern for their citizens.
Bitcoin price may have been affected by this decision simply because there's a lot of Chinese bitcoin holders.
Some of them may have been frightened with such decision which lead them to sell their coins..
Which then resulted to increase in supply then the price suffered.
But i do believe that it may not take that long for bitcoin and other coins to recover...

[HeRetiK]

Cryptocurrency is representing a dream...a dream when we can get away from the control, power and influence of the government most especially with finance and economy. This includes minimizing the control of central banking on matter on matters of policies and economic direction.

However, correct me if I am wrong, the battle has not yet started and it looks we the many Bitcoin or crypto enthusiasts are on the losing side. We have just witnessed how a single pronouncement or a news can drastically affect the value of the Bitcoin market.

Now, what would happen if many of the big governments would one day declare Bitcoin to be illegal? Will it mean that realistically it is the government who is winning in this battle? Or is there really a battle in the first place?

Tell me your convictions and dreams regarding Bitcoin.

Governments, and especially China, have been "banning" and "unbanning" cryptocurrencies for years now. I'm not sure why people are even fazed anymore.

China's statement regarding ICOs was only a matter of time, even the SEC already issued a warning. The PBOC doesn't like beating around the bush as much as the SEC does, so naturally their statement was a bit more straightforward.

I don't think that cryptocurrencies will ever get globally banned. There's too much potential and most governments are clever enough to see this. Banning cryptocurrencies in general means potentially missing out on the fruits it might bear. There's much money and technology involved, two things no country wants to fall behind with.

[pooya87]

that dream you are talking about is the dream of having a currency that no one controls. aka a decentralized currency.
but what happened so far is that bitcoin is the only "currency" and the rest are all investments to make more of bitcoin which is also turning mostly into an investment.
now what government has done is that they have set rules for this investment and they can never set rules for the currency part.

and besides this recent news was about ICOs which are in reality "scams".

[subSTRATA]

The Chinese government plans to ban risky ICOs but not crypto currencies as a whole (at least this is what I understand). Of course they try to regulate and control everything. Let's hope that they will not declare Bitcoin&Co illegal on day. This would drive the whole crypto scene into the underground.

it's the first step; the chinese government cannot hope to regulate bitcoin without drastic measures; controlling the miners (51% attack) is one possibility that comes to mind in giving control. however. even if they manage this, they would have to continue maintaining that hashrate to maintain control. it might not be the best way, but its just one potential method off the top of my head. i dont think at all it would be economically feasible for any organization to do this, so they do what they can: in this case, the chinese government outlawed ICO's in order to (this is just what i think) hinder decentralized projects that it cannot oversee and control if necessary.