Government Controls Crypto?

[so98nn]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they?

Well they can shut down an exchanger, OTC exchange etc but wallet stays online all the time. You can always exchange the crypto from one address to another without any trouble. Exchangers are just platforms to trade your currency like that of share market and stuff. However, bitcoin can be stored in the wallet, whether it is paper wallet, hardware or software wallets. Government does not have control on them. Plus miners are working all over the globe, if one government shuts operations then they will pop up in another country or another miners will increase the power. The network is huge, and by this time it's impossible to take down the bitcoin. So chillax mate, it still remains decentralised one.

[DoublerHunter]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they?

^ I do not really think you have done your homework before you asked this question. You should know what is the meaning of being decentralized first then you come back here, and tell us what’s your perspective. Nevertheless, regarding your concern, the government banning companies that sell, trade, and buy Bitcoins won't affect the decentralization of Bitcoin and other cryptocurrencies. That is a different story, my friend. They are not really associate. Decentralization is for the platform itself. But some theory is saying that there is a way for the government to control the decentralization and that is if they will mine empty blocks. But that was not proven right yet.

[serjent05]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they?

Yes, the government can shut down centralized exchanges and companies but they will never shut down  p2p activities.  When it comes to decentralization, I believe the cryptocurrency industry is a mix of fully decentralized, centralized, and semi-decentralized cryptocurrencies. 

Bottomline, the government can affect cryptocurrency adoption but it will have a hard time shutting down or controlling cryptocurrency because of its decentralized nature (see Bitcoin as an example).  But any cryptocurrency that have a central authority will always be susceptible to government control.

[NatureMoves]

If government bans Bitcoin, people can still use peer to peer network for Bitcoin activities. But doesn't p2p require a software? Can the website that offer that software be taken down by government? So the government can still indirectly control bitcoin?

[adzino]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they?

Bitcoin is decentralized, not the exchanges. Hence the government can shutdown the exchanges, but not the network. Shutting down the exchanges doesn't mean that the government is controlling bitcoin. Think of it like P2P torrenting. At best what the authorities were able to do is just seize the websites that hosts illegal/pirated contents and shut it down. But where they able to bring the network under control? Nope, people still pirates. It's the same in case of bitcoin. Shutting down centralized exchanges won't help government control bitcoin. But they can indirectly do so by imposing strict regulations and policies.

[Renampun]

...

No government can stop me from buying, selling, sending or receiving crypto. The worst they can do is to make it illegal.

making it illegal is tantamount to stopping the development of technology...
government is a tool for entrepreneurs especially those who own a bank business, when they feel cryptocurrency is a threat then they will definitely make it illegal. against cryptocurrencies = trying to catch the wind, that's impossible 'lol'.

[Shasha80]

Not all crypto is decentralized, so to make it easier to understand we are talking about Bitcoin only. In my opinion there is not a single country until
now that has been able to shut down Bitcoin, if indeed there is a country that can control and shut down Bitcoin it has been done for a long time.
But until now Bitcoin continues to grow and its users are growing. Therefore the government can only make Bitcoin illegal, because after all there
will always be ways to buy and own Bitcoin. That's one of the reasons why I am so in awe of Bitcoin.

[nightxglow]

Well, what they mean by controlling bitcoin is i guess by controlling the price, the supply and the demand of bitcoin. There's no way government can do that right? that's why people said bitcoin can't be controlled by the government, unlike cash, where the government can print or destroy them, adjusting them with the situation that they need.
However that's true, government can still control us from using bitcoin, not the bitcoin itself that's being controlled, but us, the citizen. They might ban, make it as something illegal and such so we can't use bitcoin, but they can't really do anything to bitcoin itself.

[maxreish]

They control you mean in a sense that government make some regulations out of crypto activities. Like other countries that wanted to control bitcoin in a way that they wanted to create walls between cryptocurrency and governments. However, you can still access bitcoin without worrying that others may have a control over it unless you are in a country that prohibits the use of cryptocurrency totally.

[aysg76]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies or networks where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they? Maybe not directly but indirectly controlled?

The most a government can do is to ban use of Bitcoin and other cryptocurrencies through the centralised exchanges which means if you are found guilty or say you trade in cryptocurrencies you can be punished.But the government can never shut down or stop bitcoin usage because it has no central point of authority and all the transactions are carried out through P2P network and transactions are completed without any third party intervention on the blockchain.It is one of the unique feature of Bitcoin which makes it more valuable than other coins in the market.Can government shut down the internet?You can also conduct offline transaction in Bitcoin network but it will be promoted to the nodes in presence of internet only.It is something which is jointly owned by all and nobody have individual control over it.

[Nhazwrath]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies or networks where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they? Maybe not directly but indirectly controlled?

Lots of people responding with almost exactly what im going to say.

Has the Pirate bay been shut down yet?  Bitcoin is several orders of magnitude harder to shut down then the Pirate bay.  Its a listing service only, and its peer to peer system is almost impossible to stop.   Bitcoin is way harder to stop.   Not to mention Bitcoin isn't actually stealing something like the people running the peer to peer networks that the pirate bay links. 

Governments Can shut down exchanges. 

But let me add something that I haven't seen anyone else mention.    TAXES.   Governments want their taxes.  Why the hell would a tax hungry gov shut down tax income?  Yes currently bitcoin avoids tax being peer to peer(prob forever due to its nature).   But if you want to convert to a local fiat Then the gov will get their cut.   And that's all there is to it.


Dumb govs will ban. Smart govs will pin down the exchanges with regulation.  Its a math problem.

Outright ban Costs money to maintain and zero returns.

Ignore crypto = no gov income

Regulation of exchanges = Some income with little cost keeps the crime somewhat in check. I am in favor of this option but then extent of regulation is where the real conversation should start.


Everything else is media rhetoric.   which btw is in my opinion a much much greater problem then gov regulation on exchanges.

[Sihab76]

Bitcoin The control of a decentralized coin does not depend entirely on one class of people but on the whole group.  However, if the government of a country wants, it can control it not only for the country but it cannot control it completely.

[molsewid]

Well, what they mean by controlling bitcoin is i guess by controlling the price, the supply and the demand of bitcoin. There's no way government can do that right? that's why people said bitcoin can't be controlled by the government, unlike cash, where the government can print or destroy them, adjusting them with the situation that they need.
However that's true, government can still control us from using bitcoin, not the bitcoin itself that's being controlled, but us, the citizen. They might ban, make it as something illegal and such so we can't use bitcoin, but they can't really do anything to bitcoin itself.

Be it bitcoin's price or even the technology of bitcoin none of the two that a government can control of. That is why it is known as decentralized coin meaning there is no other way that a government can control. And when it comes to exchanges this is where the government has a power or control over it and I guess this is the reason why it is so important that cryptocurrency or bitcoin be adopted by the  world so that there's no other reason to use exchanges, so we can directly use bitcoin in all transactions.

[Streets 2.0]

Nobody can control this market, it can only be regulated by creating obstacles to it - through prohibitions and restrictions, or, on the contrary, a favorable climate and incentive for development. Can you call a tax control? Sure you may! But it is also the rules of the game that are clear to everyone - which makes it possible for investors and other players in the market to feel comfortable and understand what will happen "tomorrow".

[Distinctin]

Well, what they mean by controlling bitcoin is i guess by controlling the price, the supply and the demand of bitcoin. There's no way government can do that right? that's why people said bitcoin can't be controlled by the government, unlike cash, where the government can print or destroy them, adjusting them with the situation that they need.
However that's true, government can still control us from using bitcoin, not the bitcoin itself that's being controlled, but us, the citizen. They might ban, make it as something illegal and such so we can't use bitcoin, but they can't really do anything to bitcoin itself.

Be it bitcoin's price or even the technology of bitcoin none of the two that a government can control of. That is why it is known as decentralized coin meaning there is no other way that a government can control. And when it comes to exchanges this is where the government has a power or control over it and I guess this is the reason why it is so important that cryptocurrency or bitcoin beadopted by the  world so that there's no other reason to use exchanges, so we can directly use bitcoin in all transactions.

As long as bitcoin is still decentralized, we cannot expect for the government to fully adopt it as there is no way they can control it. Yes with exchanges they can but with bitcoin and its network itself, all are uncontrollable by the government. The least they can do is to create strict restrictions for bitcoin or banned it but they can't stop people from using it.

[Dewi Aries]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government. How can this be true when the government can shut down the companies or networks where you are able to buy, sell, or send crypto? What do you guys think? Do you all think that crypto is truly decentralized and cannot be controlled by the government or can they? Maybe not directly but indirectly controlled?

That is why i think some people not agree with centralized exchange, because they can get hit by government rules and can be shut down anytime. But i think it wouldn't really disturb people who use bitcoin because there will be new site or maybe new DEX that can allow people to trade their coins.

[lepbagong]

Bitcoin The control of a decentralized coin does not depend entirely on one class of people but on the whole group.  However, if the government of a country wants, it can control it not only for the country but it cannot control it completely.

indeed it will be difficult to directly control bitcoin transactions because they work alone and no one is able to regulate and treat bitcoin transactions.
but the government is able to enforce applicable rules with all those who buy and sell fiat to bitcoin through state-regulated institutions. then the state is able to control it properly in the transaction.
other than if they do transactions on the black market, it will obviously be difficult.

[NeverSop]

Bitcoin and the crypto market are just one form of society.  It is still within the legal framework of the regulations, This is completely unavoidable.  But the way bitcoin existed it was still in a distance, a different space.  Today's blast is likely to initiate a price manipulation.

[kuldipgajjar]

The rapid change and volatility in cryptocurrency prices has puzzled analysts and economists, especially as there are no fundamental reasons governing their price movements. So, what factors should traders and investors in cryptocurrencies consider to evaluate them? Government regulation might be one of them

[alexeev.tosha0109@yandex.]

Cryptocurrency is decentralized, this means that the government can't control or even shut down it. The only thing they can do is to prohibit crypto usage.