Government Controls Crypto?

[Xinarae*]

The government cannot control crypto it is completely out of the control of the government. That is why the governments of many countries have imposed many restrictions on it which did not give it legitimacy there is no one to control cryptocurrency in the same way that a common currency is controlled by a central bank bitcoin anyone using decentralized Internet can create cryptocurrencies. It can also transact the authorities consider it dangerous because there is no control the currency cannot be seen in reality it only exists online.

[Sanugarid]

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?

Bitcoin is a digital currency, a decentralized system that records transactions in a distributed ledger called a blockchain. So basically, the government has no full authority over cryptocurrency since blockchain serves as the bridge for transactions in the digital setup. Yes, the government could takedown companies but it wont be enough to shut down the entire network. Besides, it has been widely used in different countries so the only thing they could do is to set up restrictions and limitations for people who're involved in crypto

[Iceblast]

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?

governments in every country are different, because they apply different rules. maybe only in your country that applies such rules, not all governments in a country fully control crypto, they usually only give rules about crypto to their people who use crypto for a better purpose

[dezoel]

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?

When you say the government can shut down companies or networks, yes that is possible to an extent, but it is not fully possible. The government can only shut down the companies that they regulate, you can use countries that banned bitcoin as an example, let’s look at Nigeria when they banned bitcoin and stopped all the companies there such Binance, Luno and the rest of them, they did all that but did it stop people from trading cryptocurrency? The answer is a NO. People still continued to trade cryptocurrency because they are now making use of P2P and they now happened to beat India as the second largest P2P traders.

So, that shows you that the government can’t stop cryptocurrency, the only thing they stop is companies that are regulated by them, but decentralized exchanges can’t be stopped.

[Kamarah]

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?

I think the government can control electronic money. This does not mean prohibiting electronic money. I think this should do it. Needs of strict rules and appropriate sanctions to avoid bad guys stealing and protecting their assets. You still buy, sell or exchange normal electronic money as long as you don't take advantage of it to work badly.

[Ebede]

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?

Crypto is a digital currency that has no physibility ,shuting down companies can not frustrate the growth of crypto but rather it mystifies it and makes the exchange value higher and scare among users

[hulla]

Ok so there are people who say that crypto is decentralized and cannot be controlled by the government.

Bitcoin is decentralized not crypto is decentralized because there are some crypto which claimed to decentralize whereas it centralized an example is every project created by Binance or on their platform.
Yes, government can not control every crypto that's truly decentralized but they can cause FUD whoch may influence the price of the crypto.

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 government shutting down an exchange site doesn't mean they control crypto and the last time I check they can only do that with centralized exchange.

[Sihab76]

Governments around the world and those domestic centralized banks are taking enough steps to sell but a completely decentralized virtual currency so it has become a matter of great difficulty for a fully controlled government and centralized banking system.

[arwin100]

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?

Crypto is a digital currency that has no physibility ,shuting down companies can not frustrate the growth of crypto but rather it mystifies it and makes the exchange value higher and scare among users

There are shutting down issues of exchange which has been used to fud crypto users to dump the price of bitcoin so provably if something like this will happen we can possibly go the same as many people will think the demand will lessen for certain closer especially if the government will demand it. But this is far from reality since as long as bitcoin is serving a good purpose the government will not put any bad actions on it.

[Kasabus]

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?

Crypto is a digital currency that has no physibility ,shuting down companies can not frustrate the growth of crypto but rather it mystifies it and makes the exchange value higher and scare among users

There are shutting down issues of exchange which has been used to fud crypto users to dump the price of bitcoin so provably if something like this will happen we can possibly go the same as many people will think the demand will lessen for certain closer especially if the government will demand it. But this is far from reality since as long as bitcoin is serving a good purpose the government will not put any bad actions on it.

The government shows negative reaction towards bitcoin even how useful it is to the people but i think it will only stop there. Yes, they can shut down those crypto exchanges but definitely not the network itself. Bitcoin is decentralized so no single or group of authorities can ever control it. The government can impose limitations on bitcoin transactions but never they can stop bitcoin transactions even how they see it illegally.

[oktana]

What companies are you saying? Binance? Or where? See, there's no way they can stop us. They won't even make an effort but even though they did, it won't be really effect on us.

[Distinctin]

There are shutting down issues of exchange which has been used to fud crypto users to dump the price of bitcoin so provably if something like this will happen we can possibly go the same as many people will think the demand will lessen for certain closer especially if the government will demand it. But this is far from reality since as long as bitcoin is serving a good purpose the government will not put any bad actions on it.

Well, I hope every country's leaders will appreciate that but unfortunately, some of them are still blind to see it. I'm not sure what is in their mind or just they don't want to have crypto as their business competitor.

1-2 countries are not enough to stop crypto. Cryptocurrencies will continue to spread and become more useful to our lives in the future and we all get the benefits from them. Just we need some patience as the development continues and these leaders will open their minds and give their support instead.

[tsaroz]

There are many different cryptos to think about. But if you are taking a decentralized currency like bitcoin, the network is not controlled by any single person, group or entity. The government can ban it and make it difficult for people to get and trade bitcoin but they can't find out (if taken the necessary precautions) who owns what amount of coins and they won't be able to track P2P trade with bitcoin. Government cannot influence the transactions or stop them in any way. They can't confiscate it unless they hold the key to the wallet.

[totaleclipseofthebank]

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?

So you misunderstand the concept of the decentralized cryptocurrency. It is p2p transaction so even if the governments shut down exchange, comapnies, etc, people can still buy, sell or transfer their coins although it might be a little tough.

Not all crypto is decentralized. Some are centralized, some are pseudononymous. There are fully decentralized cryptocurrency but its usage in this decade is not significant. Maybe when bitcoin become the main asset of the world, decentralized coin will be used more

[jjdub7]

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?

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

I guess so, just like nobody can stop you from creating a business selling cocaine, can that be called decentralized?  👀😀

Even if governments make Bitcoin and other cryptocurrencies illegal, they will still not be able to control them. The price will again be determined by the supply and demand of Bitcoin, not by the any government.

They can control access to Bitcoin (by banning it, imposing sanctions on stock exchanges, etc.) but they cannot control Bitcoin itself.

[rjsolutions28]

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?


------------ One reason that Bitcoin is so tenacious is that it is a globally distributed phenomenon. The vast majority of mining takes place outside of the US in China and central Asia. But the vast majority of Bitcoin holders and buyers appear to be US and EU entities, and the software’s core developers and node-runners (who host Bitcoin’s servers) are scattered throughout the world. The most important person in Bitcoin—its inventor—is no longer relevant, and could even be dead.

Even if a government took control of a majority of the Bitcoin hash rate, this doesn’t enable them to change the Bitcoin consensus rules or print more Bitcoin or steal anyone’s holdings. The worst they could do is use their power to mine new versions of Bitcoin (which, in the case of BCH or BSV, has failed spectacularly), or burn billions of dollars to temporarily damage the network in what’s called a “51% attack.”

They can try seizing my account but good luck with that I'm using Netcoins.ca. It's hard to hack. lol

[Kittygalore]

There are many different cryptos to think about. But if you are taking a decentralized currency like bitcoin, the network is not controlled by any single person, group or entity. The government can ban it and make it difficult for people to get and trade bitcoin but they can't find out (if taken the necessary precautions) who owns what amount of coins and they won't be able to track P2P trade with bitcoin. Government cannot influence the transactions or stop them in any way. They can't confiscate it unless they hold the key to the wallet.

I'm pretty sure the government has a way with this kind of things and I do know that if those corrupt and power hungry mongrels put effort into what they are doing, they will be able to pull it off but you are right there will be a resistance and the people will always win in the end no matter what happens next.

[Alucard1]

Government can only ban their citizen by trading and investing in bitcoin but they cannot ban it as a whole or even delete it, bitcoin is not under a centralized system as well, one of the features of bitcoin is decentralized which is really different story from the understanding of those people you have posted. The government won't shut down those companies that accept bitcoin or those platforms that have the feature of bitcoin, that would have a big process and expect that they will pay huge money for that thing, so for sure they won't sacrifice it.

[Stevcummings]

Government can only ban their citizen by trading and investing in bitcoin but they cannot ban it as a whole or even delete it, bitcoin is not under a centralized system as well, one of the features of bitcoin is decentralized which is really different story from the understanding of those people you have posted. The government won't shut down those companies that accept bitcoin or those platforms that have the feature of bitcoin, that would have a big process and expect that they will pay huge money for that thing, so for sure they won't sacrifice it.

Firstly, the governments can regulate the price of assets, such as fiat currencies, through buying and selling actions in international markets. Also, they can pinch off excessive enthusiasm for an asset class by saddling it with regulations that increase the cost of doing business. An example of this approach is bitcoin regulation being considered across various states in the United States. Finally, governments can also make the asset scarce by imposing controls on it. An example of this is the case of gold, which has import restrictions in several countries.

All three types of actions have the potential to fail in the case of bitcoin and cryptocurrencies. This is because cryptocurrencies are extra-national and have decentralized ledgers that are spread across multiple countries. Their regulation will require a well-coordinated effort across several economies. This might be a difficult task, given varying levels of interest in cryptocurrencies and their impact on national economies in different places.
 
Source
https://www.[Suspicious link removed]news/can-government-regulation-affect-bitcoin-prices/

[taufik123]

The government only provides regulations on cryptocurrency. in every government in all countries have different regulations. Cryptocurrency cannot be completely controlled by anyone, including the government. The government only provides rules in the form of regulations. This regulation will determine whether each country allows cryptocurrency transactions or not.

However, it will not be possible to directly control crypto from within. Cryptocurrency is completely decentralized.