What will governments do next to manipulate Bitcoin?

[snipie]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

Few years (or maybe months) ago USA dumped too many seized coins several times and AFAIK that leaded to a price drop and that was one of its interference with bitcoin. Otherwise I doubt they will go further as a government.

[serjent05]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

Nope, I do not think that the US government can manipulate Bitcoin.  In terms of US country yes, they can in their own jurisdiction but outside the US territory, it cannot manipulate Bitcoin.  That is why they can only limit the ban of participating in crowdfunding in their country alone.


I think this regulation thing is the way of the government to manipulate Bitcoin since they require cryptocurrency exchanges to submit reports to them.

[ene1980]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

If the US government wanted to restrict bitcoin they could have already done that as it is over 11 years now and the authorities started confiscating bitcoin from criminals for a long time and selling them at auctions. When it comes to exchanges enforcing KYC is because they do not want to get into trouble from the authorities if some hacked coins are cashed using their exchanges.

[adzino]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

Like why do you think the US government can manipulate bitcoin? It is a decentralized network and coin. No one can control it. Stop listening to those stupid conspiracies and educated yourself .
Yeah, exchanges implements the KYC function so that their user database remains clean.

[beerlover]

What, do you think, the governments of different countries will do next to manipulate Bitcoin? Will it be to drive the price up or down?

In my opinion manipulation on bitcoin price levels already happening like some governments are secretly buying bitcoins and to buy cheaper they might be manipulating bitcoin markets. If more governments are involving into bitcoin markets then we can obviously expect prices to go up but if one or tow countries try to grab cheaper bitcoin then they may go for manipulating prices to fish for cheaper. There are whales hence we can expect sharp down fall at anytime before we start travelling to moon and stars.

When more government start participating into bitcoin or different busies level which means we even considering such participation/suggestion as manipulation, bitcoin prices will definitely skyrocket. Government manipulation will be good whereas individual or corporate' manipulation should be avoided or need to approach them with more care.

[Jating]

What, do you think, the governments of different countries will do next to manipulate Bitcoin? Will it be to drive the price up or down?

In my opinion manipulation on bitcoin price levels already happening like some governments are secretly buying bitcoins and to buy cheaper they might be manipulating bitcoin markets. If more governments are involving into bitcoin markets then we can obviously expect prices to go up but if one or tow countries try to grab cheaper bitcoin then they may go for manipulating prices to fish for cheaper. There are whales hence we can expect sharp down fall at anytime before we start travelling to moon and stars.

The problem with this theory is that it is hard to prove if governments specially US is really buying and hedging bitcoin. For now we don't have solid proof that indeed US is on so called manipulation.

When more government start participating into bitcoin or different busies level which means we even considering such participation/suggestion as manipulation, bitcoin prices will definitely skyrocket. Government manipulation will be good whereas individual or corporate' manipulation should be avoided or need to approach them with more care.

Bitcoin price skyrocket because of simply law of supply and demand. If retail and institutional money will flow then it will really go up. But government admitting that they are into bitcoin are rare, maybe except for those countries who are trying to circumvent any trade embargo like North Korea.

[Ridwan Fauzi]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

Like why do you think the US government can manipulate bitcoin? It is a decentralized network and coin. No one can control it. Stop listening to those stupid conspiracies and educated yourself .
Yeah, exchanges implements the KYC function so that their user database remains clean.

They could, like what OP says they can make a fake regulation. As we all know, bitcoin price is pure based on supply and demand but we have to thinking the people who has bitcoin will always try to buy and sell based on the new or information, that is fundamental factor I guess.

I'm still remember when there a country who try to adopt/accept bitcoin then we will see the increasing price and otherwise when we get a bad information like the country A stated that bitcoin is illegal and etc. That is the factor why bitcoin price is volatile and hard to believe that bitcoin's price will remain stable although there are a lot of bitcoin future popping up.

[wozzek23]

If they could somehow gather bitcoin by using a stablecoin that could be very scary. Think about it they could print as much stablecoin as they want, there is really no limit to it, they could just back it up with the people who buy it as well so it would be free for them and cause zero money to do that as long as people do end up buying their stablecoin and we all know people would buy it instantly, we have USDT run by a shady Bahama bank using scammy company and we already bought billions of it, if USA government does a stablecoin I can see easily 50 billion stablecoin sold.

And the government could use that 50 billion to buy bitcoin anytime it drops, they could simple crash the market and buy themselves as well and keep it low and create panic and just hoard millions of bitcoins without spending a single dollar.

[KTChampions]

serjent05

In fact, the jurisdiction of the United States extends to all countries (with the exception of rogue states such as Cuba, NK, etc.)

ene1980

The conjuncture is always changing. If you know, once cocaine was considered a common medicine and could be bought at a pharmacy.

adzino

To manipulate does not mean to control. I think you will agree that the price of bitcoin depends very much on the actions of the US government (ban or vice versa recognition as a reserve currency)?

[pixie85]

Personally, it does not seem to me that governments are too interested in BTC at the moment, for the simple reason that it is a very small market in terms of value.

The governments as a whole probably aren't but certain influential people in those governments are interested, I'm sure of it!

If your average middle class worker thinks Bitcoin is a fast and easy way to make some money those high tollers also know it and they have the means to make it happen. They can change laws get their rich friends to invest and they can create FUD if they want to.

[iv4n]

To manipulate does not mean to control. I think you will agree that the price of bitcoin depends very much on the actions of the US government (ban or vice versa recognition as a reserve currency)?

Exactly that, to manipulate doesn't mean to control it! Price will always depend on actions from masses or strong players, and US government is a strong player here. We can say the same thing for China, Russia, or any other country that has means and ways to do what they want. In that way every market is vulnerable, and can be manipulated with, with some regulations or a lot of money, either way who want's to shake the market can do that, but of course with knowledge and good organization, I don't think it's a one man job.

[bitbunnny]

The only government that can manipulate bitcoin is the US government  But I see no reason to believe that they are doing this because there is no need for it. Bitcoin has actually been entered into the legal field - everywhere it requires KYC, exchanges track suspicious transactions, etc. Bitcoin does not represent anything dangerous for the government.

If the US government wanted to restrict bitcoin they could have already done that as it is over 11 years now and the authorities started confiscating bitcoin from criminals for a long time and selling them at auctions. When it comes to exchanges enforcing KYC is because they do not want to get into trouble from the authorities if some hacked coins are cashed using their exchanges.

I think that some meanings of word manipulation are being mixed
To manipulate something doesn't necessary mean to control, restrict or to ban. So in this context I don't think that US government has any of such intentions towards Bitcoin. It's really hard to figure out where such conclusions come from.
KYC is obligation by the law in most countries for all services that include any financial mean so cryptocurrencies are obviously not exception. But I don't understand why are people so afraid of it, it's actually for their own protection.

[semobo]

Governments are not trying to manipulate the prices, they simply don't want it to be existed because they are already making money so they have no reason to dump bitcoin after so much efforts to manipulate it, so this is done by the individuals with different strategies and some governments also helping those whales for shares in returns In my opinion.

[serjent05]

serjent05

In fact, the jurisdiction of the United States extends to all countries (with the exception of rogue states such as Cuba, NK, etc.)

With the "exception" contradicts your claim of "all countries".  Anyway, I think influence is much better word than Jurisdiction.  Each country have their own law, it maybe greatly influence by the US but the decision still belongs to that country.  Us cannot decide for my country on what to do or not. They may influence but the power to decide is still in my country.  Except if the case is related to US citizen and the crimes is done on the USA and the criminal is hiding here.  Same goes with Bitcoin and other cryptocurrency.

[KTChampions]

serjent05

In fact, the jurisdiction of the United States extends to all countries (with the exception of rogue states such as Cuba, NK, etc.)

With the "exception" contradicts your claim of "all countries".  Anyway, I think influence is much better word than Jurisdiction.  Each country have their own law, it maybe greatly influence by the US but the decision still belongs to that country.  Us cannot decide for my country on what to do or not. They may influence but the power to decide is still in my country.  Except if the case is related to US citizen and the crimes is done on the USA and the criminal is hiding here.  Same goes with Bitcoin and other cryptocurrency.

These countries are "exotic" and I do not think that anyone seriously considers them as suitable for living.
As for sovereignty and jurisdictions, you are formally right, but in fact the United States controls global finances and those who fall under US sanctions are deprived of the opportunity to work with other countries since other countries are afraid of the corresponding sanctions.

[justdimin]

I doubt they are doing anything anymore. They probably gave up after they realized people couldnt care any less about what governments think.

There was a lot of bans and illegal laws and so forth whatever made when bitcoin first started because it was used on dark nets to buy drugs and all that, however people still continued, you can't stop people from using bitcoins at all. You can't trace a bitcoin to a person as long as they never shared their wallet address on a public place or bought it with KYC neither.

So, they wanted to destroy bitcoin but realized there is no way, so they joined. Nowadays I think governments are not after destroying bitcoin but they are after getting a piece of their own pie from it and make a profit of your profit as well.

[Nazmul012]

In my opinion, governments already have done everything that they could against bitcoin. So They don't have any way to down bitcoin again. Now if they are really interested about bitcoin & want to do something, then that will "Remove A Ban On Bitcoin & promote it". And That will be a good sign for bitcoin. Without this, they don't have anything to do

[Janation]

Governments are not trying to manipulate the prices, they simply don't want it to be existed because they are already making money so they have no reason to dump bitcoin after so much efforts to manipulate it, so this is done by the individuals with different strategies and some governments also helping those whales for shares in returns In my opinion.

I don't know what are they thinking about cryptocurrencies.

Let's just use India for example. India is one of those countries that Bitcoin is now getting better. But their government is having thoughts about it. Now that they unbanned it, they are thinking to ban it again. We have no information about it now but let's hope they will reconsider that plan.

[michellee]

In my opinion, governments already have done everything that they could against bitcoin. So They don't have any way to down bitcoin again. Now if they are really interested about bitcoin & want to do something, then that will "Remove A Ban On Bitcoin & promote it". And That will be a good sign for bitcoin. Without this, they don't have anything to do

Or they are trying to search another way to manipulate bitcoin or spreads about the fake news related to bitcoin. We don't know what they already did because they will not tell the public, and they are using a secret way, which makes us guess. If they don't do anything and don't spread the negative side of bitcoin, I think that will be a good thing for bitcoin because that means bitcoin can spread among the people can use bitcoin without any worry of the government.

[bitbunnny]

In my opinion, governments already have done everything that they could against bitcoin. So They don't have any way to down bitcoin again. Now if they are really interested about bitcoin & want to do something, then that will "Remove A Ban On Bitcoin & promote it". And That will be a good sign for bitcoin. Without this, they don't have anything to do

Could you specify what exactly have governments done against Bitcoin and which governments? When we talk like this I like to hear some concrete argumentes.
To my opinion all these stories about governments all around the world that are against Bitcoin and cryptocurrencies are exaggerated and almost sound like a witch hunt. Like Bitcoin users like to play victims and rebells but in fact the whole story about governments and Bitcoin could be put in.one word - regulation.