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Author Topic: Governments cannot control Bitcoin  (Read 629 times)
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August 20, 2020, 04:52:52 PM
 #81

The government cannot control bitcoin because of the decentralized nature of bitcoin.Other than that, bitcoin has a very high level of security, because it's hard to track by anyone.
The government can't control bitcoin is right, bitcoin has a very high level of security is also right, but if you say it is hard to tracked by anyone this is wrong because One of many advantages of bitcoin is we can see and track all the transactions in the blockchain, it's mean transparent that's why a lot of people love it.

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August 20, 2020, 05:10:43 PM
 #82

I agree with you, government would find it extremely difficult to control bitcoin since its transferred without any central body and the value is determined purely by the forces of demand and supply. I don't even see any government contesting with Bitcoin, because its way more than any country in particular. It's way larger than an single government and that makes it untouchable.
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August 20, 2020, 05:32:01 PM
 #83

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.
right. The crypto market is for us like paradise, but for governments it is a disaster. Governments are always looking for ways to stop money launderers and illegal activity, but to the crypto market it looks like they're giving up. they just put out laws to minimize the criminal profile and could do nothing more. That is also why governments never let their people use bitcoin in payments.


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August 20, 2020, 05:48:44 PM
 #84

that's for sure, because bitcoin is very difficult to control even by world governments, because the market demand for bitcoin investment is uncertain, so investing in cryptocurrency is high risk if we don't know the market movements, because when bitcoin price goes up or nothing can hold it

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August 20, 2020, 08:13:05 PM
 #85

As you say, governments cannot control bitcoin, and they cannot control this market. That's why many countries have tried to ban cryptocurrency because they can't control it, they fear it will cause Fiat to crash.
No, the government can control the usage of bitcoin through heavy/strict regulation. Yeah, it is going to be quite difficult for them, but trust me, almost every countries are catching up! A decade before, almost no casino, exchange or any crypto currency related service asked for identification. But, now almost most of the services requires users through go through the KYC process.
And they aren't afraid because it is going to "crash fiat". They are scared people might use it to evade taxes and launder money easily.

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August 20, 2020, 08:19:08 PM
 #86

I don't see the need why government should want to control bitcoin when it has its national currency to deal with. The government could only desire track the earnings from bitcoin and ensure that her citizens remite the right amount as tax. I know some countries like the United States is towing along the path to checkmate the citizens cryptocurrency earnings.
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August 20, 2020, 11:49:11 PM
 #87

Government cannot control bitcoin beause it is decentralized, there is no way to control cypto. I believe that it is really hard to control blackchain. Maybe government will adopt blackchain technology soon for it had really a great help or maybe it can contribute to make payment system more simple.

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August 21, 2020, 12:22:07 AM
 #88

Government cannot control bitcoin beause it is decentralized, there is no way to control cypto. I believe that it is really hard to control blackchain. Maybe government will adopt blackchain technology soon for it had really a great help or maybe it can contribute to make payment system more simple.
There is a reason why the government wants to take control over crypto, aside from trying to help in regards to scamming and illegalities, they are also after the taxes that every holder may have to pay. But, it was very unfortunate that they can't make it and live the market still fully decentralize. It doesn't mean that we don't need the government but only we ask is their support, not banning crypto because we decline their intent to control us. If they can appreciate how useful is Bitcoin, huge adoption might take place and so they are.

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August 21, 2020, 12:35:18 AM
 #89

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.

Regulations is the closest they can do because they will have to spend a lot of money and a lot of manpower if they try to control Bitcoin transactions or if they will try to ban people will always find a way use transact and store their Bitcoin in fact they can benefit if they allow it and then just charge taxes on services and products associated with Cryptocurrency.



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August 21, 2020, 12:56:15 AM
 #90

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.
bitcoin is free in the market. the government will not be able to control bitcoin, because bitcoin is not a product of a country and is approved by many countries. even if it makes rules about bitcoin, the government cannot implement it according to the rules it must still be in a reasonable stage.
bitcoin is present in the world for the trading system, and it is entering the free market. anyone can trade and use it

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August 21, 2020, 01:42:56 AM
 #91

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.
It is true, blockchain technology is currently prioritizing decentralization so that no one has the authority to rule and every user has the same position and is convinced of the fluctuating value of bitcoin or cryptocurrency. Moreover, bitcoin was originally created for such a purpose where every user has the same rights without any third party influencing the rules of the transaction (P2P network). There is the little fact that we can adopt the concept of blockchain technology by having central authority over transactions, and still have data security and transparency.

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August 21, 2020, 02:06:27 AM
 #92

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.
It is true, blockchain technology is currently prioritizing decentralization so that no one has the authority to rule and every user has the same position and is convinced of the fluctuating value of bitcoin or cryptocurrency. Moreover, bitcoin was originally created for such a purpose where every user has the same rights without any third party influencing the rules of the transaction (P2P network). There is the little fact that we can adopt the concept of blockchain technology by having central authority over transactions, and still have data security and transparency.
Blockchain is already a secured feature of bitcoin having transparency through it and I think if government will going to watch over every transactions then that might do as well but we have also to embrace high transaction fee to be deducted and the purpose of p2p transaction will be defeated in eradicating third party in a transactions. Well, whatever government will do if ever they will meddle in cryptocurrency as long as there will be a balance with cryptocurrency and its use then it is going to be alright with me as long as those scammers also abusing bitcoin will be caught and put to jail.

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August 21, 2020, 02:51:26 AM
 #93

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.
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August 21, 2020, 03:28:46 AM
 #94

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.

In the major media, they often do not recognize the existence of this market and often advise people to stay away from it when possible because the risks of participating are great. My country used to be like that, but now things are much different because my national government has realized the potential and surely in the future there will be many good policies for the participants.

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August 21, 2020, 04:45:51 AM
 #95

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.
Without any doubts I totally agree to what you said that any government around the world so far doesn't have any control in bitcoin knowing that it is a decentralized system. But Maybe after some time it can change if all the government will accept how bitcoin really work especially for each economy.

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August 21, 2020, 05:32:29 AM
 #96

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.

After ten years of trying governments cannot impose their will to Bitcoin community, some countries are still Cryptocurrency on their citizen but it's a futile effort and will not last, by regulating the exchange they can still make money and they have to realize that fiat and Cryptocurrency can co-exist without harming one another.

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August 21, 2020, 05:39:35 AM
 #97

Bitcoin is fully decentralized and I like the idea that Nakamoto is unknown to this day because if he is well known there will surely be some past threat on the guy's life, I'm glad Bitcoin stood on its own and fought all the wars.

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August 21, 2020, 09:10:12 PM
 #98

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?

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August 21, 2020, 09:43:07 PM
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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?

US does not have her own cryptocurrency, but China does. China actually created hers, because it has no control over major cryptocurrencies and they thought of ways to mitigate that and the only means to create their own digital currency, which is official
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August 21, 2020, 09:48:15 PM
 #100

Bitcoin is kind of private commodity or entity which no government can control fully. But by imposing regulations, transactions can be controlled to avoid money laundering activities. Each government wants to have tax collected by such means, so by regulating they may get benefits out of it.

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