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Author Topic: Cryptocurrencies and its political nature.  (Read 1466 times)
orions.belt19
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September 18, 2017, 04:18:41 AM
 #21

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct
There are internal power struggles in the crypto space too, there's no denying it. Bitcoin is the biggest cryptocurrency and arguably it's already fallen pray to speculators and developers that are more after personal gain other than integrity of the code base and the overall good of the ecosystem. Thankfully community outcry prevents major mishaps from taking place but it's not that of a great way to do damage control.

Yup, sounds a bit sad. But then again it's all that speculating that drove the price up. I know whales just pump and dump their holdings but hopefully, there'll be a large enough of supply split between small users.

Politics can be found anywhere and as decentralized as Bitcoin is - politics may still be found in it. There will always be attempts to have some control over power thus the presence of whales and speculators. It's the sad reality but its quite true that someone behind the scenes have been pulling some strings. They are motivated by personal gain and they continue to do so to their advantage. I think that the mass number of bitcoin users would still be able to have some liberty to use their bitcoin despite these political roadblocks. Bitcoin continues to prevail as a cryptocurrency.
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Beerwizzard
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September 18, 2017, 04:37:25 AM
 #22

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

The cryptonature is more likely non political because of the same reasons. But anyway governments will aim to control the usage of cryptocurrencies on their territory making it imposible to use bitcoin and forcing users to hide their BTC in the internet.
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September 25, 2017, 02:30:46 AM
 #23

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct
That is why the governments can't do anything about the cryptocurrencies but to try to regulate it and when they can't regulate it then they will just ban the cryptocurrencies and stick to their system like fiat. Governments always wants to control things and make profit out of it and that is the reason why they created fiat money.
What you did not mention is that after the ban and the enforcing of such a ban governments are going to fail miserably at it, and then the people are going to force them to make cryptocurrencies legal again and eventually this is going to mean the disappearance of fiat as we know it, bitcoin is not going lose the war of currencies and they know it.
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September 25, 2017, 02:55:13 AM
 #24

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

I don't think it makes the cryptocurrencies political in nature. I believe cryptocurrencies are on the contrary not political. Crypto goes beyond the division caused by politics. Crypto is not divided by political ideologies, parties, principles, and the likes. Crypto makes the world a single digital community.
iamTom123
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September 25, 2017, 03:49:54 AM
 #25

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

Due to the fact that cryptocurrency can be disruptive in nature, it can not be avoided that it can be mired in the political games as what we are seeing right now. And this is just the start as cryptocurrency is now being noted and notice by the many governments all over the world. While there are those who are accepting cryptocurrency by means of regulations presumably to level the field and to minimized abuses, there are governments that are really threatened by it that they chose to ban its use and utilization by their citizens. And sine the state has the power to control the people, there are really no choice but to abide by the orders of those governments. The recent example is, of course, the big market of China. However, any citizen can take advantage of getting into other countries where cryptocurrencies is allowed.

I am expecting that in the next few years, many governments would finally issued their stand on cryptocurrency and there would be more who will allowed it and there would be some who will chose to be be backward and will not grant legal status. However, it should be noted that the cryptocurrency movement is here to stay and will continue to grow. That is for sure, regardless the many bumps and humps due to political and economic reasons.

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September 25, 2017, 03:56:46 AM
 #26

no single government can't control them that's why some of government in the particular countries attempts to banned cryptocurrencies because they're cannot control the users too moreover people currently has see the advantages from it with invest more money to cryptocurrencies because besides those factor also cryptocurrencies provide the profit for the future
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September 25, 2017, 06:00:57 AM
 #27

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.



In every things in this world has its own strength and weaknesses or advantages and disadvantages. If this would be officially worldwide accepted I mean fully accepted, this has to be the most successful one. The nature of cryptocurrencies will be the one of the sign through modern era of the world market. It has to be better than money itself.
But what about this highly volatile jumps and falls?? These just cant be natural. They are created by these big sharks to earn some good money. But at low sell at high and again buy at low. Surely this is a major drawback of this currency.
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September 25, 2017, 06:07:47 AM
 #28

people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

"Governed by code alone, making the contract digital sancrosanct."

That is a decent way of putting it.

Context is where economics discussions become complicated. Many have a tendency to define terms like centralization, regulation, capitalism/socialism and crypto in absolute context. To say that capitalism is always better than socialism is an oversimplification. There are strengths and weaknesses, advantages and disadvantages in everything.



In every things in this world has its own strength and weaknesses or advantages and disadvantages. If this would be officially worldwide accepted I mean fully accepted, this has to be the most successful one. The nature of cryptocurrencies will be the one of the sign through modern era of the world market. It has to be better than money itself.

But what about this highly volatile jumps and falls?? These just cant be natural. They are created by these big sharks to earn some good money. But at low sell at high and again buy at low. Surely this is a major drawback of this currency.


Well in terms of markets and economy, it is necessary to at least somehow have a price rollback every once in a while. It's true that big sharks as you say control the price but that is part of the business. We cant always have price increase because it would be more harder to monitor or even have earnings if the price is always increasing. Price goes up to give back what they bought and price goes low to sell the coins.
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September 25, 2017, 06:09:08 AM
 #29

May be one day will come when the country who holds most bitcoin will have some kind of advantage over other countries.
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September 25, 2017, 06:39:18 AM
 #30

The idea of crypto currencies is really good that no one will have the control over it but maybe we also need to see the fact and chance that owning bitcoin does not have any limitations as long as you have the money to acquire it. My point is that if government would really want to have control over the majority of bitcoin they can buy large amount of it even corrupt politician can put their currupted money on bitcoin and no one will find that.

umbara ardian
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September 25, 2017, 06:44:33 AM
 #31

they are without a government so all are not in political control let alone they do not have citizenship of course this can not be manipulated but it is worth knowing cryptocurrency that is not affected by politics and control from anywhere but they are a good future investment.
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September 25, 2017, 06:53:48 AM
 #32

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct
Yes it's governed by code alone, but do you think everyone knows that, I would give a big no, because people don't care about bitcoin, they only care about its price, their mindset is like,okay bitcoin is going to give me profit, so I'll just put my money in it and cash out a few days later.
And even if bitcoin is not controlled by any government, it's price is influenced by people which we experienced earlier this month ,and probably bitcoin should be technically defined as " For the people, of the people and by the people ",damn Abraham Lincoln, stated that at the wrong time, even though bitcoin is not a government, it's in people's hands right?

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September 25, 2017, 12:28:07 PM
 #33

they are without a government so all are not in political control let alone they do not have citizenship of course this can not be manipulated but it is worth knowing cryptocurrency that is not affected by politics and control from anywhere but they are a good future investment.
Even bitcoin is decentralized and cannot be controlled by the governments then it can still be affected by the politics because the perfect example for that is the banning issue of china in bitcoin and you can see that it affects bitcoin a lot and its price goes down hard and you can see  that bitcoin is experiencing something that shows difficulties to climb up again.
Lancusters
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September 25, 2017, 12:43:01 PM
 #34

they are without a government so all are not in political control let alone they do not have citizenship of course this can not be manipulated but it is worth knowing cryptocurrency that is not affected by politics and control from anywhere but they are a good future investment.
Even bitcoin is decentralized and cannot be controlled by the governments then it can still be affected by the politics because the perfect example for that is the banning issue of china in bitcoin and you can see that it affects bitcoin a lot and its price goes down hard and you can see  that bitcoin is experiencing something that shows difficulties to climb up again.
It seems to me that the danger lies in the other. The government ban the use of bitcoins can not lead to the result because it is possible to do so in the jurisdiction of other States. The biggest danger is to ban the exchange of bitcoins for Fiat. I hope that the governments of all countries to unite efforts in this direction.
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September 29, 2017, 07:41:44 AM
 #35

they are without a government so all are not in political control let alone they do not have citizenship of course this can not be manipulated but it is worth knowing cryptocurrency that is not affected by politics and control from anywhere but they are a good future investment.
Even bitcoin is decentralized and cannot be controlled by the governments then it can still be affected by the politics because the perfect example for that is the banning issue of china in bitcoin and you can see that it affects bitcoin a lot and its price goes down hard and you can see  that bitcoin is experiencing something that shows difficulties to climb up again.
It seems to me that the danger lies in the other. The government ban the use of bitcoins can not lead to the result because it is possible to do so in the jurisdiction of other States. The biggest danger is to ban the exchange of bitcoins for Fiat. I hope that the governments of all countries to unite efforts in this direction.
This is impossible to ban bitcoin, and no government want to lag in development and this will bring un bearable effects and government allow to progress of their citizens and this is the way to progress and this will bring business to the region, All the countries should take a stand and then accept bitcoin bravely so that everyone can enjoy profit and its benefits.

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September 30, 2017, 03:04:21 AM
 #36

While cryptocurrency has been hailed for its potential in the financial sector of the developed world, one of its greatest applications has been virtually overlooked. In nations that lack dependable economic systems or governance, digital currency may offer hope. Access to finances, security and privacy of funds, and faith in a common medium of exchange can aid many across the globe.
Government-sponsored virtual currency does not afford the protections of non-fiat virtual currency. Conceivably, a government could control wallets, coin distribution (and taxes), and even entire blockchains. Bowing to the auspices of conventional political structure is not the goal here. Otherwise, the digital world faces the same constraints as its tangible counterpart (paper money).
All populations, especially those that are disadvantaged, need a way to maintain access to their wealth from anywhere in the world. Imagine if a refugee was able to access a bank account even after being displaced from their home country. This could help maintain the refugee’s dignity and hopefully diminish the extreme poverty caused by this terrible upheaval.
This is the unrealized potential of virtual currency. In a nation where political activists are jailed, or inflation runs rampant, non-fiat virtual currency may offer an escape.
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September 30, 2017, 10:31:59 PM
Last edit: October 09, 2017, 03:19:39 AM by Barbarian
 #37

The  nature of cryptocurrencies is very political because no single government that can control them. Unlike all other forms of wealth that can be expropriated from the individual. Also people are coming to understand  that cryptocurrencies is a better form of money because they are governed by code alone, which  makes the contract digital sacrosanct

I don't think it makes the cryptocurrencies political in nature. I believe cryptocurrencies are on the contrary not political. Crypto goes beyond the division caused by politics. Crypto is not divided by political ideologies, parties, principles, and the likes. Crypto makes the world a single digital community.
This is not entirely true politics are going to exists as long as there is more than one people in this earth, just look at the war that is still in place between the devs and the miners a war that we thought it was going to end with segwit but that has open a new chapter with the threat of forks.
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September 30, 2017, 10:56:11 PM
 #38

This all true the idea of bitcoin is very independent there is no chance that government can establish control over it even the ownership of bitcoin cannot be learn by any sector of the government its very private which I think the reason why some countries does not like bitcoin they are afraid of its capabilities which they can never control.

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October 01, 2017, 12:57:35 AM
 #39

This all true the idea of bitcoin is very independent there is no chance that government can establish control over it even the ownership of bitcoin cannot be learn by any sector of the government its very private which I think the reason why some countries does not like bitcoin they are afraid of its capabilities which they can never control.
That is the big threat for the government, bitcoin is a decentralized currency and that is why a lot of people are loving and starting to migrate from being a fiat user to a bitcoin user. Bitcoin is a great cryptocurrency and the government already noticed that and even they want to control bitcoin, they can't still do it because of the decentralization and that is why there are news that says that bitcoin is getting banned in other countries.
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October 09, 2017, 03:22:12 AM
 #40

no single government can't control them that's why some of government in the particular countries attempts to banned cryptocurrencies because they're cannot control the users too moreover people currently has see the advantages from it with invest more money to cryptocurrencies because besides those factor also cryptocurrencies provide the profit for the future
The good thing for us is that those measures are bound to fail, they will not be able to control the market of crypto and its users so at the end I think governments will accept crypto even if they do not like and that will give to use finally the freedom to use our bitcoin in any way we want and have no worries about governments of the world.
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