carlisle1
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May 30, 2020, 02:52:26 PM |
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They have already figure it out that bitcoin is working for their citizens so it's now time to take advantage of that use. They won't ban bitcoin, as a matter of fact only few countries did banned it because they don't understand it. The only thing they know about bitcoin is it's the money of criminals and illegal transactions but they don't see the usefulness of it.
looks like the government now taking their piece of cake?but what government would not want to gain?looks how much money is now inside this market?the amount that inside crypto is enough to feed the whole 3rd world country. How much money does it require for them to manipulate bitcoin? I don't think that they'll go with that game but instead take the advantage and pay attention to their citizens that's making money out of it and tax them because it's volatile for them to play bitcoin's game of manipulation.
actually what OP is saying is those government is making issues to shaken the market and not manipulating with Big budget.
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CryptopreneurBrainboss
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May 30, 2020, 03:35:32 PM |
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Question to you: 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?
When you say government of different countries I just had to laugh as I just tried Imagining the government of my country "Nigeria" trying to pass a bill that'll influence the market globally either by creating FOMO or FUD which sounds unachievable. The top world power countries like China and US just like others have highlighted are the only countries which can successfully influence the market as they have done exactly that in the past. Although, judging from current market reaction to such news don't think they'll have as much influence as they previously did in regards to negative news but the positive ones like adopting or recognizing bitcoin as an asset or currency will definitely have a impact on the market as it'll act as a catalyst that spikes the price in anticipation for future profits.
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Ryker1
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May 30, 2020, 05:04:16 PM |
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Well, that is a common tactic for me because I am in no doubt that some of them also own one or a huge number of bitcoins and this could be their strategy to have control over the price of bitcoin. I am afraid that in the future if fiat currencies will be phase out and bitcoin will take it to place then the government will do anything whatever it takes just to have jurisdiction on bitcoin for they are the government, --perhaps they are made by people to govern its people in all aspect. Who knows that these ever-changing outlook of the government to bitcoin is there way to arrogate and make bitcoin on their hand to manipulate it as the primary form of exchange in the economy.
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carter34
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May 30, 2020, 05:06:46 PM |
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The issue on it is that the government see how decentralized bitcoin is , that people won't be stopped for using it. The government is stocked with the kind of direction they want to go, therefore then such statements might not be intentional to stop, increase or cause panic to influence price in their own direction. Bitcoin is 10years plus now and is going to continue being an option in the financial problem solving.
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whyrqa
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May 30, 2020, 06:06:29 PM |
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One way or another, a totalitarian state will always find ways to influence the activity of the cryptocurrency market and prohibit the cryptocurrency, as well as how to punish its citizens for using the cryptocurrency. As an example, we can take Russia, where the State Duma is preparing to adopt a number of amendments that provide for administrative and criminal liability for violation of the new cryptocurrency ban. The government’s actions initially already indicate that the state policy regarding cryptocurrencies will be very strict, since the legislator does not undertake to discuss issues related, for example, to regulating the activities of cryptocurrency exchanges, but first of all they began to discuss the amount of fines and terms of imprisonment for violation of a specific prohibition.
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#business #forextrader #bitcoinnews #invest
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hatshepsut93
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May 31, 2020, 03:25:56 AM |
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You're making here big statements like your conspiracy theory is a proven fact, but it's not. You even speak very vaguely, saying "government" and "legislators" without naming any countries or names. You show zero proof of government trading Bitcoin, which is necessary to prove your theory. And the price actually very rarely changes just because a country makes a statement about crypto.
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adaseb
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May 31, 2020, 04:42:19 AM |
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I don't think governments really care about bitcoin anymore to be honest. I think the days when they became regulated on exchanges like Coinbase and Gemini and after the launch of the CME futures, governments have learned to accept it for the way it is.
Generally there will be more KYC enforcement but for the most part, its here to stay. Basically you can't kill off bitcoin just not possible and its nothing no harm. Currently its mostly used for speculation and criminals moved on to privacy based coins.
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Gozie51
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May 31, 2020, 10:01:00 AM Last edit: May 31, 2020, 10:20:15 AM by Gozie51 |
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What, do you think, the governments of different countries will do next to manipulate Bitcoin?
When you say government of different countries I just had to laugh as I just tried Imagining the government of my country "Nigeria" trying to pass a bill that'll influence the market globally either by creating FOMO or FUD which sounds unachievable. The top world power countries like China and US just like others have highlighted are the only countries which can successfully influence the market as they have done exactly that in the past.
![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Talking about influencing or manipulating as Op puts it, I think Nigeria can influence things ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) but maybe not necessarily on the crypto kind of things because is not a high tech country. It can be a contributor to manipulation however in crude oil production too. I think as the 6 largest oil producing nation with OPEC, manipulation is also not far from Nigeria too ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif) On the part of adoption, I believe that Nigerians are part of the highest hodlers of btc in Africa at least. Therefore, a bill in the National Assembly for adoption of btc will cause a major spike in btc price across board IMO , even if it does not scale through (as part of manipulation)
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sunsilk
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May 31, 2020, 10:08:44 AM |
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They have already figure it out that bitcoin is working for their citizens so it's now time to take advantage of that use. They won't ban bitcoin, as a matter of fact only few countries did banned it because they don't understand it. The only thing they know about bitcoin is it's the money of criminals and illegal transactions but they don't see the usefulness of it.
looks like the government now taking their piece of cake?but what government would not want to gain?looks how much money is now inside this market?the amount that inside crypto is enough to feed the whole 3rd world country. As if that's the main agenda of the governments that want to get inside to bitcoin. They're in it because there's money and it doesn't matter to them if it's for the sake of their people or for personal interest, it's the reality which we knew about governments. How much money does it require for them to manipulate bitcoin? I don't think that they'll go with that game but instead take the advantage and pay attention to their citizens that's making money out of it and tax them because it's volatile for them to play bitcoin's game of manipulation.
actually what OP is saying is those government is making issues to shaken the market and not manipulating with Big budget. That's the point and do you think they can shake or manipulate the market without anything inside their pockets? You can't shake the entire bitcoin market or any market without any huge fund involved.
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davis196
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May 31, 2020, 11:29:14 AM |
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Which governments are you talking about?USA and China? Each government has completely different views about how to regulate the cryptocurrency industry. I don't think that there's a government in the world,that actually manipulates the prices of Bitcoin or any other cryptocurrency.This would be totally illegal and it might cause a decrease in the trust that people have in cryptocurrencies.If you have insider information,that some big country is manipulating the prices of Bitcoin,would buy consider buying some BTC?I would definitely refuse to buy BTC,it there's a small possibility that Bitcoin is under the control of some centralized power.
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mirakal
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May 31, 2020, 11:29:19 AM |
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If we believe that the government are interested with bitcoin, then they might think they are manipulating it. However, we are talking of the government here, it's not only one person, it's a state that is making a decision for bitcoin, so it's not likely that they will do it.
Government give their opinion, and then give their decision, it's just us who are speculating and even mixing their worlds so we can create some FUD or panic, I believe only whales can manipulate the market because they are holding a big portion of the total supply.
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tbterryboy
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May 31, 2020, 04:38:44 PM |
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They could create their own digital currencies? Or they could even create their own centralized exchanges. Think about it, having a website like binance but that is run by USA government for example. You are capable of buying, selling many altcoins and you could do that with sending money from your bank account to that exchange and start trading however you want and when you want to withdraw you do it to your bank account there.
It is basically coinbase+binance combined with the trust of american government which would be awesome. They could however control the price of bitcoin that way, with all the money they make from trading fee's they would own most of it eventually and could ruin the price whenever they want or increase it whenever they want to manipulate for having more of it themselves.
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coinfinger
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June 01, 2020, 05:30:04 AM |
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Smartest decision would be to sneaking up on bitcoin without letting anyone know. However there is a dilemma here, the government has to be transparent on where the tax payers money goes, now they are not always doing that but they have to, that is their duty. So, right now if they want to sneak up and buy a bunch of bitcoin and be manipulative, they have to do that without letting anyone know. Could they do that? Easily, they have done it on other stuff all the time. Hell governments pay 10000x more for a product just because it is their friends company and that is common in probably in all of nations governments.
However will they risk getting caught doing something like this when the topic is crypto? I am not entirely sure, I feel like they do not care about it enough to do something like this.
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fabiorem
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June 02, 2020, 09:19:21 PM |
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You already answered your own question, OP. The government will keep doing this cycle, over and over again. My fear is they might be using bitcoin to be able to print money indefinitely, without any consequence (such as inflation). They print trillions of dollars, use it to pump bitcoin, then dump when inflation hits. Bitcoin, being deflationary, can be used as a hedge by governments against inflation, which is caused by money printing. Right now I think investors will pump it hard, using the "incentives" coming from the printing machines. Then governments will pass some laws to prohibit it, so that the cucks sell, crashing the market. Then governments buy it cheap (using their own resources this time) and relax these measures, while printing even more money (and with more incentives, new pandemics, etc). Bitcoin might also be used to fuel national cryptocurrencies, issued by central banks. In fact, central banks have been buying bitcoin since 2017, or even earlier. There is nothing we can do about it. Bitcoin was already captured by paper speculation, with derivatives taming the price, and the correlation with the stock markets shows its just another asset for pump and dump schemes. However, it is clear by now a new price level might come, which could bring it to 50k in the next year.
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maxreish
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June 07, 2020, 10:27:06 AM |
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In other words, from your point of view. Governments are behind the price manipulation of bitcoin price in the market? I don't think any government have any control of bitcoin. Seems that there is a possibility that when legislators create fuds about the cryto regulations, there will be a fomo and panic. But I do not think most of the lawmakers will gonna buy bitcoin if they are not interested about it. Unless they have a plan of buying a huge amount of btc for that purpose.
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suvo05
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June 07, 2020, 06:47:27 PM |
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They have tried several methods but they failed. I think next they will try to track down all the BTC transaction and they are going to introduce a special tax system for bitcoin.
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Yamifoud
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June 07, 2020, 11:34:51 PM |
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They have tried several methods but they failed. I think next they will try to track down all the BTC transaction and they are going to introduce a special tax system for bitcoin.
Of course, they can't win over us. https://www.cnbc.com/2019/11/04/study-single-anonymous-market-manipulator-pushed-bitcoin-to-20000.htmlIn fact, powerful countries tried to control crypto and manipulate the system but they don't succeed because crypto is different, unlike the stock market. Satoshi has got this thing anonymously and crypto must live that way. May the government could ban crypto and impose taxes for every holder but it never comes into a moment that they would control the market and prices. I don't think we ask for them this thing( manipulation) in order to stabilize the market. But only we need is their support and allow the people to use this.
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snipie
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June 08, 2020, 10:50:39 AM |
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Unless a single country started mining and controlling more than 51% of the activities I don't see how a single government could manipulate bitcoin.
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Zackgeno96
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June 08, 2020, 12:44:28 PM |
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They do not want to ban it because they know people will just use it anyway and will find a way. Plus they are making tax income from it so they do not want to ban it and lose money as well. But they do not like it when they are not in charge neither, they want to control all of bitcoin which they can't which upsets them.
So, the closest thing they could do to manipulate crypto world would be starting a stablecoin backed by the governments. Think about USA creating something like USDT but its backed by the federal bank, that would be super strong and would be preferred method and all of other stablecoins will be gone for sure. That way they could control a part of the crypto world while still in charge and making profit and allowing people to use it as well without banning it.
Government isn't banning cryptocurrencies because if they ban it then the userbase will automatically increase, just have a look at history every time governments ban anything its users always increase like alcohol, any drugs or narcotics. So this is the reason that there isn't any ban on crypto yet as its market is very low as compared to other things. Government just want time to have regulations in place on this unregulated market.
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KTChampions
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June 09, 2020, 10:15:56 PM |
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The only government that can manipulate bitcoin is the US government ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) 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.
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