Government policies help to grow the price of bitcoin

[skarais]

I guess we cannot do anything on that. Some governments are going too ease against cryptocurrencies but most others are planning something which may be excessive regulation or may not.

The government may still be planning a centralization for bitcoin, but they don't have the power to do so. KYC is one of the rule that is imposed on every user who is subject to government regulation and that is how they control abuse. Right now, I don't think the government will impose stricter rule on bitcoin. It may cost them no income tax benefit. However, everything is still possible if the bitcoin abuse continues to increase from year to year.

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[Shasha80]

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maybe on the one hand government officials use bad funds to invest in bitcoin and they safely keep it quietly so as not to be traced. so they strongly oppose the existence of bitcoin because it will take away their paradise in saving money and investing. This was what the central government worried about at the beginning of the bitcoin boom, because it would be used for bad things by unscrupulous government officials

Your observation makes sense, because nowadays it is increasingly difficult to hide the proceeds of crime. And some corrupt government officials
might launder their money by buying Bitcoin. Therefore some countries are still hesitant to legalize Bitcoin, but Bitcoin transactions should be easy
to trace if it is true that corrupt money is bought Bitcoin. Because transactions with Bitcoin are transparent and traceable via the blockchain network,
or some countries are not yet good at the cyber crime division in tracking crimes in the online world.

[AicecreaME]

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

I agree on what you stated. Government keep on pushing the cryptocurrency away, thinking they'll be able to control its widespread. They are not aware that they are actually helping it prosper by their policies and regulations. In fact, because of their blatant rejection of crypto, it has gained attention from the media. There are news and articles circulating online about what cryptocurrency is and its potential. This makes the crowd draw their concentration to what it has to offer, leading to more users and investors in cryptocurrency.

Bitcoin can't be manipulated and be enclosed inside the box by anyone else. It will surely bloom and thrive sooner or later. Government can do nothing about it. The more they hamper its growth, the more it will persist to soar.

[suryogandul]

government policies that can help grow the price of bitcoin are only policies that have a positive side to bitcoin such as examples of countries legalizing crypto. it has a positive effect for crypto especially bitcoin because global responds well, so don't expect bitcoin price to grow if the government has rules that hinder bitcoin. even though bitcoin is completely unregulated by the state but it is bound to be hampered

[Arkann]

To date, in most cases, the government has not taken any steps to legalize the cryptocurrency, as well as to adopt the relevant legislation for the legal regulation of the cryptocurrency industry. After all, it is these steps that can positively affect the growth of Bitcoin and other cryptocurrencies. But today we see only different attacks by governments, as well as statements by certain officials who cover the entire cryptocurrency market with a negative shadow, and such facts always negatively affect the rate of cryptocurrencies.

[darewaller]

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

Well, you’re kinda correct. But I don’t think any one of us would like to be living in a country where the government has banned cryptocurrency. That’s not the kind of place I would like to live in. But whether they ban it or not, the price of cryptocurrencies will always grow. I think the governments are the ones that are losing in this case. And also because people can still buy and sell it by using peer to peer, so what sense is it going to make when they ban it?

My next reason for saying that the government is losing is this: when there is a law that allows the growth of cryptocurrency in the country, there will be companies that will get into it, and the ones that are already existing will expand to it, and that means more job opportunities and also growth, the government will as well receive taxes from these companies.

[geegaw]

government policies that can help grow the price of bitcoin are only policies that have a positive side to bitcoin such as examples of countries legalizing crypto. it has a positive effect for crypto especially bitcoin because global responds well, so don't expect bitcoin price to grow if the government has rules that hinder bitcoin. even though bitcoin is completely unregulated by the state but it is bound to be hampered

Legalization is just a way of bringing bitcoin to a certain level of publicity, sometimes it doesn't have too much of an impact because even without legalization, Bitcoin can also rise in the most natural way, look at which bitcoin is rising right now, all are magic at the hands of all of us, governments are also unstoppable. Policy is just too old topics, if they come up with strategies that will probably help the value of bitcoin more, establishing such public regimes, obviously making no sense.

[lixer]

Government keep on pushing the cryptocurrency away, thinking they'll be able to control its widespread. They are not aware that they are actually helping it prosper by their policies and regulations. In fact, because of their blatant rejection of crypto, it has gained attention from the media. There are news and articles circulating online about what cryptocurrency is and its potential. This makes the crowd draw their concentration to what it has to offer, leading to more users and investors in cryptocurrency.

Bitcoin can't be manipulated and be enclosed inside the box by anyone else. It will surely bloom and thrive sooner or later. Government can do nothing about it. The more they hamper its growth, the more it will persist to soar.

I do not think as pessimistic as you do. I mean sure there are nations that has banned bitcoin, banned mining, banned whatever related to crypto and those nations do make it harder for us to buy crypto if we are in that nation. However look at USA and European nations, those places are basically just doing whatever they want to and that is the important part, if they really want to they could have banned it as well and they did not, now they are even supporting it.

So that means even though there are few nations that do not look kindly on bitcoin, there are more nations that support crypto revolution and regulate it very well so that is a good thing. I am not saying that what the other nations are doing would be good, banning it is very bad for us, but if we just look at the bad side we will see bad things, if we can also look at the good nations we can be optimistic about it.

[Coroline]

Government keep on pushing the cryptocurrency away, thinking they'll be able to control its widespread. They are not aware that they are actually helping it prosper by their policies and regulations. In fact, because of their blatant rejection of crypto, it has gained attention from the media. There are news and articles circulating online about what cryptocurrency is and its potential. This makes the crowd draw their concentration to what it has to offer, leading to more users and investors in cryptocurrency.

Bitcoin can't be manipulated and be enclosed inside the box by anyone else. It will surely bloom and thrive sooner or later. Government can do nothing about it. The more they hamper its growth, the more it will persist to soar.

I do not think as pessimistic as you do. I mean sure there are nations that has banned bitcoin, banned mining, banned whatever related to crypto and those nations do make it harder for us to buy crypto if we are in that nation. However look at USA and European nations, those places are basically just doing whatever they want to and that is the important part, if they really want to they could have banned it as well and they did not, now they are even supporting it.

So that means even though there are few nations that do not look kindly on bitcoin, there are more nations that support crypto revolution and regulate it very well so that is a good thing. I am not saying that what the other nations are doing would be good, banning it is very bad for us, but if we just look at the bad side we will see bad things, if we can also look at the good nations we can be optimistic about it.

I agree with your opinion, countries around the world do not ban bitcoin. The circulation of bitcoin in the world to date has increased every year and is sometimes pressured by several countries so that bitcoin is not too popular and beats conventional finance.

Policies made by bitcoin suppressing countries are not always bad, possibly with these policies making bitcoin and crypto miners more innovative for crypto developments in the future.

[Rruchi man]

I couldn't agree with you more. Here's what I think, Bitcoin is a Phoenix. It will always rise above the ashes (government policies). The  cryptocurrency  market  grew  from  a  $1.5  billion  market capitalization  in  early  2013  to  over  $795  billion  in  January  2018 despite the regulatory attempts by several governments. I mean, see the good Bitcoin and cryptocurrency is doing in El Salvador, in Cuba, Nigeria and in India (in fighting covid-19). It's super important to note that the saying, "if you can't beat them join them" is the reason why several governments are trying to introduce their own central bank digital currency (CBDC)


Global Charts  –  Total  Market  Capitalization,  COINMARKETCAP, https://coinmarketcap.com/charts/  (last  visited  Jan.  11,  2018).

[bitcoinst]

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

I didn't understand what you mean at all. Politicians' policy to make bitcoin the most demanded currency?
But it was before politicians, Bitcoin was the most coveted and remains now, if we take things in general. Although I personally find it difficult to come up with a use for it in the future without a speculative nature.

[sunsilk]

I didn't understand what you mean at all. Politicians' policy to make bitcoin the most demanded currency?

Their policies have given bitcoin more exposure than the policy that's intended to shorten the space of bitcoin to their countries.

But it was before politicians, Bitcoin was the most coveted and remains now, if we take things in general. Although I personally find it difficult to come up with a use for it in the future without a speculative nature.

I don't find anything hard on it for using it now. So if it's easy to use it right now then there's no problem in the future that on how we're going to use bitcoin.

It's already there and various use that it can done by us.

[AndySt]

Crypto currency round the world has come to stay, to foster growth in business and build trust among its users but most world leaders are head bent on tackling bitcoin by making difficult policies to affect its stability, but little do they know that this policies of theirs make bitcoin to become more influential among other crypto ,making it scarce and the most sought after crypto currency thereby making the few people that have it to hod and inflate the price to which ever amount they wish to sale on peer to peer bases...what do you think

I didn't understand what you mean at all. Politicians' policy to make bitcoin the most demanded currency?
But it was before politicians, Bitcoin was the most coveted and remains now, if we take things in general. Although I personally find it difficult to come up with a use for it in the future without a speculative nature.

Yes, if we talk about this moment in time, then we can really only talk about the speculative nature of bitcoin as an asset, but let's not forget that bitcoin is clearly not intended for this, but for completely different purposes, such as performing some functions of fiat currencies. I don't think that in reality bitcoin and other decentralized currencies can displace or even displace traditional fiat currencies in large states, because the governments of these states simply won't allow it, but in small countries like El Salvador this may well happen and bitcoin may occupy a sufficient share in financial calculations. At least bitcoin is quite effective and useful for cross-border transfers of individuals in many cases.

[Tina H]

This topic is too untargeted. I didn’t say which country’s government policies are beneficial to cryptocurrency, otherwise I don’t know where to start.
However, the national government's policies have always had a great impact on the encryption field. For example, a small country in El Salvador uses Bitcoin as a payment currency. Although El Salvador is a small country, its influence on the international stage is still great.
If it is a favorable policy for the cryptocurrency market, it will definitely cause the market trend to rise. Of course, unfavorable news can also cause market panic.

[ROSERTY]

The government's decision will have a great impact on the price of Bitcoin.
Some areas will prohibit the use of Bitcoin because the system used by Bitcoin is the opposite of the system used by the government, and the government does not want to lose control, but also to limit black money and track illegal financial activities such as money laundering or tax evasion.
If the government strongly supports Bitcoin, the people in the country will surely believe in the new things in the system, the more investors are interested in it, and people's demand for it will increase, which will push the price of Bitcoin to rise.

[Dax Robinson]

The government's policies will definitely have a boosting effect. Investors and cryptocurrency enthusiasts in the market will have emotions because of some good news or policies. These are all factors that drive prices. With the government's policy support, they will encourage people to have the idea of joining cryptocurrency.
Although not every government supports Bitcoin, with the development of Bitcoin, more and more people are familiar with encryption and enter the market. The future can be expected.

[Kiley33]

Government policies can indeed affect Bitcoin, but if all governments accept Bitcoin, it is now unrealistic. Many countries have banned Bitcoin (this will not kill Bitcoin).
The survival of Bitcoin does not depend on the government or the country. If other companies indicate the use of Bitcoin or prohibit the use of Bitcoin, this will have no effect on Bitcoin.
Bitcoin will become more and more popular. It will become more and more valuable.

[JillianTaft]

Not every country is on the side of support. Of course, countries that support Bitcoin will have a beneficial impact on Bitcoin, and government intervention will more or less bring growth or decline to the crypto market. But I think that in the future, the government may hold objections in the majority.

[Pokapoka124]

Yes more positive government policies like El salvador accepting bitcoin as a legal tender can help to grow the price of bitcoin as it will promote mass adoption of bitcoin. Negative policies like China bans Bitcoin mining can do the exact opposite, we expect a dump. Typically, every good trader pay attention to the news to see where the market is shifting to. For the record I believe there are more negative government policies against Bitcoin

[dataispower]

The government is scared of cryptocurrencies because they can't control the technology behind the movement of funds. The best they can do is regulating the body of the network by imposing strict rules on registered exchanges. Reason theew are introduction of KYCs to check the activities carried out on your accounts. A country has positive or negative effect on the existence of cryptocurrencies banning it and adopting it are some of the examples of such.