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Author Topic: Governments cannot control Bitcoin  (Read 629 times)
nikki4
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August 22, 2020, 11:22:00 PM
 #121

Without a short time server history, the government can't control Bitcoin transaction. For privacy and secure transaction (in any country) with low cost, Bitcoin is popular now. Bitcoin transaction cost is high and transaction is slow, we understand it for new altcoins feature. Future altcoins will be more untraceable and investors will be like to hold.

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August 22, 2020, 11:24:04 PM
 #122

The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.

thats why i like to bitcoin and other decentralized cryptocurrency rather than centralized crypto such as Xrp mate
because nobody can control this decentralized system

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Zeke_23
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August 22, 2020, 11:28:56 PM
 #123

We should treat governments carefully and hope they eventually see the benefits of Bitcoin and cryptocurrency as a whole to come to accept it.

It will happened as there are developed countries who already embracing this system, sooner or later more and more government
will acknowledge and start accepting this process currency.
Yes, especially right now that everyone can see the value of e-money. There is a possibility that most countries will see that crypto is very useful not only in doing transaction, as an investment, and many more. Hopefully, they will soon to acknowledge and start to accept bitcoin as it serves a lot of use in our current situation.

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Oppo57
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August 23, 2020, 07:08:01 AM
 #124

They can't control bitcoin if the government wants. Bitcoin is really out of the reach of the government. The government has the power to control them only on certain exchanges if it wants to. Bitcoin is a digital medium. I think the government should legalize Bitcoin.

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August 23, 2020, 07:15:36 AM
 #125

It's true that governments can't control Bitcoin and cryptocurrencies in general. That is also the reason, why they tried to stop the growth of it by making fun of it or even making it illegal in certain countries.
But i feel like this behaviour has stopped in the last two year or so. Governments noticed that they can't stop crypto and they made some regulations for it.
Most federal banks would still be happy though if crypto wouldn't exist i guess.

Yes they do because they are being challenged by the decentralized nature of Bitcoin and Cryptocurrency, but it;s a futile effort if they are going to stop decentralization and Cryptocurrency they can ban or regulate it, easiest thing to do is to regulate it.

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August 23, 2020, 07:43:51 AM
 #126

They can't control bitcoin if the government wants. Bitcoin is really out of the reach of the government. The government has the power to control them only on certain exchanges if it wants to. Bitcoin is a digital medium.
Government can undo and do whatever they so wish with bitcoin mate, don't underestimate the sovereignty of government as a body. A tweet by US alone can do immense damage to crypto currency.
Quote
I think the government should legalize Bitcoin.
This would be difficult but with time, things change and I believe with more adoption, chances are high in the future.

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August 23, 2020, 08:07:22 AM
 #127

Yes, our governments can't control the bitcoin but they can make it illegal in our countries so that we can't use it no more.
We made the government to ourselves. We gave the full power government to do with us whatever is the best for us. The government can't survive without ourselves, without control we can't survive. Without tax, the government wouldn't support Bitcoin and it's secure transaction process. Do you believe the USA and China don't use Bitcoin this time?
If the government was in a democratic country or people have that likewise attitude, I think they won't ban cryptocurrencies and declare it was illegal. Remember, the government is just the extent of people's will to manage and lead, make a decision to improve our standing. If everyone sees cryptocurrencies or Bitcoin as a way forward then the government can't do anything about it. Cryptocurrency is just a way to return the currency to its root, for only people and how they see fit to use it.
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August 23, 2020, 10:52:56 AM
 #128

It is difficult for government to regulate bitcoin because it is designed to be decentralised. However, Government can regulate the flow of fiat currencies. This can be checked through ones bank transfers.

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August 23, 2020, 01:54:09 PM
 #129

The latter is more troublesome: "governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites" which the most critical thing for the crypto's ecosystem. Many of us only use crypto thanks to its value and any hit or restriction to exchange sites is very bad.

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August 23, 2020, 06:12:04 PM
 #130

Since the first day, bitcoin, and cryptos starting to form around the idea of a decentralized currency, governments already give on trying to control it. They only have some regulations for the end users site like exchanges and such. This is showing that being decentralized is the most important aspect for new cryptos.
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