Government Controls Crypto?

[uneng]

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?

Companies can be shut down by governments, but bitcoin network (blockchain) can not, that is the most important thing here which makes all the difference. We don't need third party services or platforms (companies like exchanges) to use bitcoin. So people saying crypto is decentralized and can't be controlled by the government are telling the truth.
On the other hand what can happen is a persecution from governments against crypto adopters for not respecting a bitcoin or crypto ban, for an example. But it's important to let clear these people won't be prevented from using bitcoin anyway.

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[kolbalish]

Government can't control crypto because it is a decentralized system it can't operate from one place and can't make any difference to change one place flow of money. Government can minimize their people's investment by giving them restrictions. It is for some time because people will never stop using it and the system can't stop by anyone.

[iTradeChips]

Government controlling crypto is an absurd concept one can foolish think they can do. First stop, Bitcoin is decentralized and no government can control the said currency. The decentralization itself will prevent from any institution or government to control it. If you look at it, they have tried to shutdown many exchanges in the past, but that did not stop Bitcoin to continue spiraling up and become the king of cryptocurrency. People will look into Bitcoin now, and other cryptocurrencies and use it instead of fiat. It can be banned but it cannot be destroyed.

[Obito]

Government can't control crypto because it is a decentralized system it can't operate from one place and can't make any difference to change one place flow of money. Government can minimize their people's investment by giving them restrictions. It is for some time because people will never stop using it and the system can't stop by anyone.

Also the government is wasting their time and taxes trying to shut down the networks and their exhcanges of this cryptocurrency because people will always find a way to make things work, we humans are genetically programmed to find freedom and struggle out of the control of tyranny.

[SquallLeonhart]

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 government does not control cryptocurrency, they are only able to shut down those exchanges that your are talking about because those ones are centralized.

If you’re looking for an example of centralized exchange, then an example of that is Coinbase and Luno, they are both centralized and the government can stop them at anytime, but stopping them doesn’t mean that the government have stopped bitcoin, you can still make use of bitcoin even if these exchanges are not working or doesn’t exist, and you can do that through decentralized wallets. Wallets like Trust wallet, and Exodus are a good example.

[javainn]

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 crypto network is mostly on the internet and there is no head office. so how can the government manage it all. I only see if the government can regulate it all when people make crypto transactions in a country, and the government of that country can take action but only in that country not in the global world.

[BitcoinPanther]

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?

Those companies that were shutdown were not the cryptocurrency blockchain at all.  They are third party services that take advantage of cryptocurrency and get profit from it.  Unless the nodes of cryptocurrency blockchain is controlled, the government had no control over crypto at all.  Besides, cryptocurrency is design to do p2p trades and not to use a third party platform.

[pawanjain]

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?

It all depends on the perspective. Governments cannot control crypto directly since they are not the one who developed it.
They don't any access over the specific blockchain network. What they can do though is that they can restrict the company from operating in that locality.
But still the company has the option to operate the network from countries which are crypto friendly.
So yeah, Government cannot control crypto directly.

[ice098]

It all depends on the perspective. Governments cannot control crypto directly since they are not the one who developed it.
They don't any access over the specific blockchain network. What they can do though is that they can restrict the company from operating in that locality.
But still the company has the option to operate the network from countries which are crypto friendly.
So yeah, Government cannot control crypto directly.

Technically speaking no governments or no one in this world that a country government have a control over a cryptocurrency. But know what the things that the government has a control over crypto? It is the laws and regulation on their government like prohibiting their people to use or invest in crypto and banning cryptocurrency to be circulated in their economy, but directly having a control over crypto market it is absurd and unbelievable to be exact.

[Argoo]

CryptoBitcoin is decentralized. The network itself is, but most of the on-ramps like exchanges aren't. There's a significant difference there. And yes, the government can surely outlaw the buying/selling of bitcoin/crypto, but they can't "ban" it. The same reason how certain drugs are illegal but people still buy/sell/use them. And knowing that bitcoin transactions are conducted 100% online, it will be far easier to use it(compared to buying/selling drugs) even if it was illegal.

Yes, I totally agree here. States and their governments have a lot of power and great ability to strongly influence cryptocurrency. We have a recent example with ripple. As soon as the SEC filed a lawsuit against the abuse of two executives at Ripple Labs, XRP immediately plummeted in value. This despite the fact that there was no real danger for the circulation of the XRP coin itself, and there is not. What will happen to the price of any cryptocurrency if, for example, the G20 states declare it illegal and establish responsibility for its use? I am confident that the price of any such cryptocurrency will almost immediately drop by more than 90 percent. At their own peril and risk, some will still be able to use it, but this will no longer be its previous use.

[lionheart78]

As much as the government wanted to control crypto activities, they are only limited to regulating third-party crypto services or crypto platforms.  It would be hard for the government to control crypto because it is online and users are around the world.  They need to cooperate with different countries in order to at least initiate their plan but crypto being decentralized adds layers of protection on being controlled by any authority.

[Gamerholic]

I am sure that this is simply impossible. If we are talking about control, then this is excluded, but regulation or restrictions are quite possible. We already see a lot of such examples. In general, governments can be divided into three groups: 1) the government that gives freedom of action; 2) the government that gently regulates the market; 3) the government follows the path of strict prohibition or restriction. Of course, the first option is closer to me, but who knows - how many of them will remain in the coming years?

[Tomtomwole]

shutting down dosent mean its controlled, and moreso no government can shut down companies where trading is done except for the ones that are not licensed. majority of them are licensed. you dont understand that government also are making use of crypto oportunity.

[Norkys.2020]

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.

The Bitcoin market varies depending on supply and demand, it is also based on the effect of whales, and currently the power of social networks in such a way that it could be affected by emotions.Governments cannot control Bitcoin because they are not based on physical banks, unless the government has a platform where some public service can be canceled with crypto, this is the only way that the government begins to control those who operate with crypto , that is why people prefer to remain anonymous.

[Congyang]

As much as the government wanted to control crypto activities, they are only limited to regulating third-party crypto services or crypto platforms.  It would be hard for the government to control crypto because it is online and users are around the world.  They need to cooperate with different countries in order to at least initiate their plan but crypto being decentralized adds layers of protection on being controlled by any authority.

the reach of the government is only limited to the country they control. The government will not be able to control bitcoin more widely throughout the world, so that statement will never happen if the government will control bitcoin in any case.

[acener]

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?

Well not all crypto are decentralized so government also have a control on those centralized crypto.
The government could shut those centralized trading company or wallet providers but they still doesn't control your crypto if you have it on your own wallet.
That is why it is important to have control on your own crypto,
Remember "Not Your Keys, Not Your Coins".

[xiboothrezi]

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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, we must first equate the concepts so that what we discuss has the same meaning.  first, what is decentralized from cryptocurrency is the blockchain network, and this has been discussed by several of the members above.  second, the exchange can be considered as a financial institution, so it must obtain an official operating license from the government.  I think here it is clear, what is controlled by the government is only the market where crypto is traded, not directly traded goods (crypto).

[kawetsriyanto]

The government may not be able to control each crypto, one by one because the cryptocurrency itself is very volatile and also depends really on the market.
however, yes you are right that government can shut down the exchanges of crypto that are being in their country's regulation. Every country has different rules and regulations related to crypto. And a company needs certain permission and also law to build a company itself including cryptocurrency exchanges. And when the exchanges are not suitable or conformed to the country's regulations, the exchanges will be banned or blocked.
This also happens in my country where every exchange must be registered in one of the institution in our country to enable to run in Indonesia

[BuNga_cute]

The government may not be able to control each crypto, one by one because the cryptocurrency itself is very volatile and also depends really on the market.
however, yes you are right that government can shut down the exchanges of crypto that are being in their country's regulation. Every country has different rules and regulations related to crypto. And a company needs certain permission and also law to build a company itself including cryptocurrency exchanges. And when the exchanges are not suitable or conformed to the country's regulations, the exchanges will be banned or blocked.
This also happens in my country where every exchange must be registered in one of the institution in our country to enable to run in Indonesia

I agree that the government has the power to close the exchanges registered in the country, even if it can do extreme things. Like banned
cryptocurrency, but that doesn't mean the government can really control crypto. Because I have a friend where he lives in a country that
rejects crypto and punishes its citizens who are caught using crypto. But still my friend can still buy crypto and own it, so it is impossible
for the government to fully control crypto.

[Distinctin]

The government may not be able to control each crypto, one by one because the cryptocurrency itself is very volatile and also depends really on the market.
however, yes you are right that government can shut down the exchanges of crypto that are being in their country's regulation. Every country has different rules and regulations related to crypto. And a company needs certain permission and also law to build a company itself including cryptocurrency exchanges. And when the exchanges are not suitable or conformed to the country's regulations, the exchanges will be banned or blocked.
This also happens in my country where every exchange must be registered in one of the institution in our country to enable to run in Indonesia

I agree that the government has the power to close the exchanges registered in the country, even if it can do extreme things. Like banned
cryptocurrency, but that doesn't mean the government can really control crypto. Because I have a friend where he lives in a country that
rejects crypto and punishes its citizens who are caught using crypto. But still my friend can still buy crypto and own it, so it is impossible
for the government to fully control crypto.

If the government has in control, then manipulation is not anymore happening, IMO, the market is well manipulated, so I would say that it's not yet regulated well, and the government has to step on it now, put a clear law especially on exchanges where faking their transactions and volume.

The government could really benefit from crypto, but they can't do that if they lack control over it.

Let's be realistic, we are still in the early stage, adoption is still young so it's normal to see things that we arent' expecting to happen, lack of regulation and lack of control.