The Government Must be Winning!

[JonahCallan]

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.

Yes. Now China and Russia have begun to act. has had a huge impact on the altcoin market

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[DavidBrown]

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

What do you think when China considers ICO illegal?

[aoluain]

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.

good analysis IMO, the Bitcoin and Crypto decentralisation and
unregulation is proving to be its negative feature instead of its
positive one. Sometimes it feels like we are all left to our own
devices and anything goes. Now we have a major world government
stepping in to a degree to try and regulate of sorts a portion
of the chaos.

[BobbyAdams]

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.

The new Bitcoin virtual currency has seen its biggest slump since July after the Chinese central bank announced that its first virtual currency (ICO) fundraising was illegal.
China wants to control the ICO  

[Melissa95]

I think: "Future governments control bitcoin by tax".

[ged00u]

the government can not do anything since bitcoin is nearly anonymous and if the users choose to become anonymous to the government, they can never know who use bitcoin. The only thing that the government can do is to slow the process of being a world currency of bitcoin. The number of people using bitcoin is increasing day by day and therefore, no one can ban it right now 

[exstasie]

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.

I tend to agree. I think that a few years ago, governments were considering banning or severely restricting it. But they were smart enough to realize that since they couldn't control it, that they would only lose market share to other countries by doing so.

If BTC and cryptocurrencies are here to stay, you can be sure that some governments will push for their major cities to be hubs for cryptocurrency finance. There is already a lot of money on the table, and there will be a lot more to come if/when BTC goes mainstream. I think that governments can see that now.

[iamMhew]

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?

yeah the hard decisions is up to us who supported bitcoin, for me whether they declare a war bitcoin world vs government i really want to support bitcoin and continue supporting it what ever it takes, because all of my dreams are depend on bitcoin. but i think the only one problem that the other country want to manipulate this bitcoin are those big government who wants to destroy it because bitcoin is spreading itself and get wider to whole world.

[joseafonso123az]

It's surely a dream because it reaches really high values compared to dollar. I believe governments have not yet accepted bitcoin and they will do everything to not make it easy to bitcoin because of it's illegal activities. In the end the government won't just let another currency be a way to do illegal activities, so they have to sort these issues somehow, and then think about the implementation of it in their countries.

[aryaadikariyansyahsuwarto]

I think the government can not unilaterize bitcoin unilaterally, which if it happens then the most aggrieved party is we as bitcoin hunters, but the government must socialize in advance the reason why it should be legalized, if the reason is good, then we can not help the rules

[liuqi]

the government can not do anything since bitcoin is nearly anonymous and if the users choose to become anonymous to the government, they can never know who use bitcoin. The only thing that the government can do is to slow the process of being a world currency of bitcoin. The number of people using bitcoin is increasing day by day and therefore, no one can ban it right now 

Then how one of the developed country Japan adopted bitcoin as a legal money in their country. Other corrupted countries will be fear bitcoin because they cannot do the corruption and earning in politics and using government. If bitcoin is been implemented then every transaction will be recorded in the concern btc address.

[fortunecrypto]

Crypto currency is still a work in progress the news about chinese banning icos are specifically for icos not the established crypto currency I don't think Bitcoin will go lower than $3000 again, so much has been done and experts and big names in the industry will see to it that the core is very strong.

[WaterPower]

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.

Agreed, but there will always be scammers and thieves for whenever there is money. This is simply something that we cannot avoid. The issue of government oppresion on bitcoin is the issue that we can tackle, and so i think that is the only force that we should try to overthrow in terms of control over economy

[Adbitco]

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.

Yes it's already been noticed that the governments of most of the countries are more bitcoin friendly and have a positive attitude towards bitcoin than the negative one. There are countries like Japan, Russia, Vietnam, India even Germany and France they may have plans of regulating it but only with the view to ensure that bitcoin is not used for crimes and illegal activities. I think neither we the bitcoin enthusiasts are on the losing side nor are the governments are on the winning side because there seems to be no battle between bitcoin and governments.

[electronicash]

bitcoin was once illegal but it did goes well still, look at the price right now. we use to complain its price was below $1k and now that its more than $4k, we still are going to complain? i doubt we are on the losing side. there are tons of tokens and coins right now. if  they ban btc, there is eth and the rest of the coins which also has value.

[Cacingkemi]

I will try to reply your question. the government will not win and the people is its king. My belief that bitcoin will still exist, if the government declares illegal I don't care, because the government does not give me money or coins. BTC makes it easy for people to business on the internet, my dream should the government support and legalize.

[h0lybyte]

They way in which major central governments like japan and russia turned their attitude of considering the  matter of bitcoin,alerts nations that there is nothing like illegal in procuring bitcoins.
This is a self evidence to alternate centres that they have no chance being successful in this battle.
In future,i beleive bitcoin would be only acceptable digital coin out of altcoins.

[Kronos21]

If there is a pending trade on the Internet with bitcoin we are not threatened by anything. Let the government tells everyone what they want, but they won't be able to do. Governments don't like offshoring what? They have nothing to do with them.

[Bittolearn]

Bitcoin itself may be free of government regulatory control, but governments will always be able to exert an element of control through taxation (especially if the much-vaunted mass adoption is to occur).

- UK government already does this to an extent through Capital Gains Tax. If you sell up and convert to FIAT, you are liable to pay.
- As adoption increases, govt can put onus on vendors to charge VAT. If you want your purchases protected (consumer protection) the transaction will need to be recorded and will be on vendor accounts.
- Informal payments (including but not limited to black economy) won't be taxed, same as now with FIAT.

You can try and bypass taxation, but then you're technically committing a crime (insert your own caveat re. big business here).

BTC offers freedom from the existing banking system, not taxation.

[1Referee]

Bitcoin at worst will get heavily regulated by most of the major governments, and that's really it. If I look at how things were back in 2013/2014/2015, everything was still more or less a joke. I could just buy and sell Bitcoin at any exchange or service without a single form of verification. I could cash out my profits without any problems in terms of paying tax - my local government didn't even know what Bitcoin was. Currently this all has changed as everything has become a whole lot more serious. I believe that in the forthcoming years things will get even more serious as crypto in general is a growing industry. Governments just need time to catch up, but more regulations are to be expected.