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0t3p0t
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January 27, 2019, 04:30:03 AM |
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Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?
Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?
For me I think with or without governments Bitcoin will still be great. Though governments can affect the growth or market flow of Bitcoin due to some decissions like total ban, regulations and other laws that is against Bitcoin and the rights of it's citizens to interact with it. Even though governments will prohibit the use of Bitcoin in a specific country people will still use it as it is a decentralized asset that does not need government intervention however it will slow down the adoption. |
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ufaiz50
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January 27, 2019, 05:01:33 AM |
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Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?
Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?
I'm not so sure the trump will throw away blockchain technology by banning it, digital money and blockchain technology is the best breakthrough in overcoming cash shortages. Even if that really happens, then investors or holders in that country will definitely sell crypto assets because trump regulation must be very heavy, as we know that the regulation made by trumps for me is too pressing. |
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kaisa
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January 27, 2019, 05:25:39 AM |
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You will not be able to hold a Bitcoin-based on price, the state may forbid using bitcoin but currently, there is no one country that has succeeded in stopping the circulation of bitcoin. It's been 10 years that bitcoin is in this world, none of them can control except price. You say, for example, Trump will ban bitcoin. Then the price will go down very quickly, it proves that bitcoin is only used as an investment tool, not as an alternative payment. So, many people must be aware that bitcoin is currently only used as a digital investment, even some countries categorize it as a commodity.
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romero121
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January 27, 2019, 06:17:57 AM |
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Truly governments were most influential on anything technology associated. If bitcoin has got support from governments around the globe, surely bitcoin could have reached a large number of users making a big change. More the usage more will be the growth of bitcoin, surely government support is a must. Government won't affect the bitcoin price, but letting it legally causes an increased demand which will push the value of bitcoin high. Another thing when governments get into the community automatically they tend to keep it under their control. This might affect the decentralized functioning.
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don_ricci
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January 27, 2019, 06:27:23 AM |
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I think at the moment - it's not. At least the state doesn't regulate bitcoin openly. A big role in Bitcoin has a demand and mood of people to Bitcoin. Especially now, when no one knows what will happen next. Altcoins also affect the price of Bitcoin. They take investors themselves, thus, the demand for Bitcoin is less than it could be.
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Rooster101
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January 27, 2019, 06:30:46 AM |
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If government bans the use of bitcoin and other cryptocurrency, you will never buy nor sell them publicly but only on someunderground exchanges. Government can exert influence on the price of bitcoin by imposing tax and regulation on crypto exchanges. But I believe that the intial price reactions will only temporary if the real aim of the regulation to curb money laundering ans other crimes that uses bitcoin.
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sirminesalot
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January 27, 2019, 08:32:41 AM |
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I don't think it is fully influential in my opinion the most influential in my opinion is the investor of the crypto currency
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South Park
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January 30, 2019, 03:27:48 PM |
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Yes, definitely the government will affect the Bitcoin's price since they are capable of using their power to influence it. I would also like to mention that the government has this system called oligarchy where they are connected to everyone and they have the power to control almost anything and cryptocurrency's price is included there.
Stock markets are controlled by SEC which is a government's agency as well (security and Exchange Commission). That is the reason why people would do their best just to be elected as an official because being involved in the government means the power to almost anything monetary or so on.
The mistake governments make is they have the belief they can control everything and the only thing they need to do is to pass more laws and create more security agencies and people will just accept it, bitcoin is proof that behaviour is no longer going to be tolerated by people and unless they change their approach then it is possible they will become obsolete as it is likely the next crisis will be their fault and people are going to realize it and move away from them and their fiat. |
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aad140386
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January 30, 2019, 05:49:43 PM |
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Of course, this will negatively affect cryptocurrencies, but this does not mean that they will die. In fact, no one has yet stopped progress. Perhaps for quite a long time cryptocurrency will be depressed, but they will still develop, and if humanity understands that the blockchain has many advantages, then sooner or later it will still take its place in the global financial system. And no one can stop it. Fighting progress is stupid. Read the history of Japan, which at one time tried to isolate itself from external influence and did not allow foreigners into their country. In the end, Japan was faced with the fact that it is technologically far behind other countries and was forced to completely change.
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arpon11
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January 30, 2019, 08:45:54 PM |
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Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?
Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?
Government should be one of the most influential factors that affect bitcoin price positively or negatively. I am a trader and since 2016 that I came into cryptocurrencies market I have seeing many fundamentals issues from governments affecting cryptocurrencies market. Chinese governments has used People bank of China to control bitcoin price for some time. I think USA governments is also using sec to control or influence cryptocurrencies pricing through ETF approval. |
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tinker123
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January 30, 2019, 08:48:41 PM |
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Yes and no. The government of one country cannot really influence bitcoin. But let's say if the government of many countries will unite and suppose it is banned, then this will already have a negative impact on its price. I think the concept you understand.
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shield132
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January 30, 2019, 10:17:43 PM |
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Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?
Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?
If trump will ban bitcoin and altcoins and punish everyone by death for cryptocurrency use or will make everyone go in jail 1 transaction = 1 year, then yeah, it will affect a price a lot, trump a lot and new revolution will begin. Government can affect price when they make very serious decisions, on another hand can you blame any government for current bitcoin price? From 6K to 3k? Non of them affected it. |
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rafi035
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January 30, 2019, 10:52:00 PM |
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the government is very important and influential in bitcoin, they are the government of a country that controls its people. the government can do positive or negative things about bitcoin which will eventually reach its people. but I hope that the government of any country will think positively about bitcoin.
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Glorious04
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January 30, 2019, 11:15:36 PM |
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Yes. Government does affects bitcoin price but at the moment I cannot see that governments has something to do with the current bitcoin price. There are countries that their government don't care that much but still doesn't help bitcoin price to rise.
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metalglowd
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January 30, 2019, 11:46:45 PM |
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no, in my opinion it only has a slight impact on crypto, only at prices, the rest will continue to grow. Isn't the regulation at U.SU still prohibited so far? such as prohibiting KYC by using the U.S identity. But the worst is, if things like this followed by other big players
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gabmen
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January 31, 2019, 01:29:37 PM |
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Yes. Government does affects bitcoin price but at the moment I cannot see that governments has something to do with the current bitcoin price. There are countries that their government don't care that much but still doesn't help bitcoin price to rise.
Well when it comes to influence, i doubt if any other institution can match the government. A ban or a statement of support can easily sway investors' confidence. If all government collectively ban cryptocurrencies i doubt if it can survive a crackdown. Same way if it adopts crypto and openly support it, we're likely to see prices go off the roof. |
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Reinsurer
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January 31, 2019, 02:00:10 PM |
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Sorry for the naïve question, but I'm just really curious. What would happen to Bitcoin price if, for example, Trump declared all cryptocurrencies forbidden?
Can Bitcoin survive because of decentralization or some other underlying tech concepts, or will it simply drop down into oblivion if the government decides to fight it for real?
Giving the official status of cryptocurrency in different countries, as well as the growing use of Bitcoin as a daily means of payment and create people confidence in the further growth rate. But there are "pitfalls". |
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Ezenwanyi1
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January 31, 2019, 04:13:07 PM |
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I do not know what will happen to Cryptocurrency should government decides to fight it for real but I do know that the bitcoin price per time can be determined by government interference , activities etc.
Since we all agreed that the Cryptocurrency market is a speculative one.
So any government interference could be interpreted to mean different things ans then the speculation starts.
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Linkkoin
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January 31, 2019, 04:37:33 PM |
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Governments are the ones which create the binding law on their territory. If a big country, where cryptocurrencies had been popular is outlawing them, it could be a huge hit for the cryptocurrency market.
But big entities have as well very big impact. Advertising cryptocurrency products on google/facebook is impossible in most of the countries, what was another factor making the bear market longer and worse.
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cizatext
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January 31, 2019, 06:39:40 PM |
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I believe bitcoin is bigger then any individual or government if they truly have that power there will have used it against bitcoin long ago, I know bitcoin is still doing great by staying on the price all this time for the past one year the entire market have witness a lot of market crisis and that have even made bitcoin stronger so trump van not do anything to bitcoin cause he have no such power.
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