Government policies help to grow the price of bitcoin

[Ebede]

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

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[jackg]

what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

[Ebede]

what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

For instance, Nigerian government made a recent policy that band  crypto currency and its usage in the country,they even went to the extent of blocking all accounts that have ever engaged in crypto transaction but what did that lead to,it made it to be scarce in the country and all those who had it inflated there prices by adding additional amount to it and it became the most sought after crypto and its only sold on peer to peer level now

[bekti3]

for me Bitcoin without any interpretation from the government already knows that it will provide the best potential of all time. because basically Bitcoin cannot rely on one particular institution. and the recent fact that all of those who decided to support bitcoin were due to bitcoin users having the most favorable place among economists. theoretically this is more appropriate because it is based on external factors.

[Kakmakr]

Government policies actually "boost" Bitcoin adoption in some countries. It works like this.... A government will start to clamp down on Bitcoin (Crypto) use, by implementing strict regulations or even banning it. Now, this is the trigger for developers to innovate... because they immediately start to develop decentralized (Peer2Peer) markets for Crypto to enable people to use the currency on the "Underground" markets.

This is very similar to what happened with "Prohibition" in the United States when they implemented a ban on the production, importation, transportation, and sale of alcoholic. People just started smuggling alcohol on a underground network and the USA government lost millions of Dollars in taxes! 

[CryptocurencyKing]

Definitely, it does help and even should the policies be made to favour crypto, its still going to boom. Its no doubt crypto has come to stay and its very much unstoppable because as it is, crypto is the people. The people involved in its trade and using it in transacting are those behind its success. Governments spreading hates only creates an opportunity for more awareness and with that, with the hope that they might lay off some investors, there are also others that would seek the truth before writing it off and in that instance, they get captured by the discovery that its nothing as its said to be.

Crypto is like no other and bitcoin is its symbolic currency. Lets all appraise the government for its unsolicited support in there hate.

[Gozie51]

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 think for me it is not government policy that is responsible for these imaginable bitcoin and crypto growth, rather it was time for the growth. Bitcoin growth isn't even accidental because bitcoin is 10 plus and it has a record of increase after halving. Halving is very instrumental for its growth. And simply, many people, institutions are now using bitcoin. Remember PayPal and many others not even necessary to mention are now accepting bitcoin transactions. Is that simple to see price increase because of the demand and supply order.

[sunsilk]

Those policies that are against bitcoin are obviously not helping it. Instead of them making easier policies for the adoption to become quicker, they're making it difficult and that's what they think to stop bitcoin's growth.

But regardless of the rules that they create, bitcoin will always catch up the trend and no matter how hard and bad the policies that they make and it's against bitcoin, it will continue to thrive on its market.

[Zilon]

Basically cryptocurrency happens to be a decentralized currency and as such cannot be manipulated. Its been encrypted end-to-end in that it cannot be altered or modified.

I put it to you that most political leaders making this decisions are only scaring their citizens from acquiring the huge fortune accompanied with investing in crypto industry.

Almost all politicians currently are converting their treasures into Bitcoin and other Crypto currencies. I know of a few who have market analyst who predict the direction of different coins for them before investing in them. I believe we should be guided and not allow political gurus manipulate your future by preventing you from acquiring coins for yourself

[Princejebs]

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

Policies and regulations can and will only affect its people and the particular region, the jurisdiction cannot do anything to bitcoin since it's global currency without central authority though it might affect the price in a short period of time with some corrections.
The only thing that can stop bitcoin growth is when internet seized to exist which isn't possible by the way. Government would continue to threaten bitcoin until one day they realize it's too late for them to stop it.

[yhiaali3]

There is no doubt that the wrong government policies regarding bitcoin gave great value to Bitcoin because people always want everything that is forbidden and it is difficult to obtain it, if there were lenient policies from governments regarding bitcoin, I think that this would be of great benefit to governments in terms of regulating currencies as well as tax collection.
But I think that these policies are not what makes some people or whales own the bitcoin and control the price, even if governments legislate bitcoin and people buy bitcoin a lot, these whales will still be able to manipulate the price of bitcoin as they want because they have the money and power to do what they want.

[slapper]

what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

For instance, Nigerian government made a recent policy that band  crypto currency and its usage in the country,they even went to the extent of blocking all accounts that have ever engaged in crypto transaction but what did that lead to,it made it to be scarce in the country and all those who had it inflated there prices by adding additional amount to it and it became the most sought after crypto and its only sold on peer to peer level now

Not clear enough. Does the price of bitcoin or any specific cryptocurrency in Nigeria higher than in other parts of the world?

In my country, the government only bans bitcoin from being used as a decent currency for payment. There is no legal protection for cryptocurrency investors if they encounter loss or cyber thieves. Nevertheless, bitcoin is freely traded without having any critical issue. The most surprising thing is that the price of any cryptocurrency (and usdt) is about 5 ~ 7% higher than the world price. I do not know whether it is because of the government law or it is a result of a free market.

[iamsheikhadil]

Governments have no shame to do everything to safeguard their own corrupt interests, even at the expense of their own citizens and their rights or benefits but, human history has a big golden period of fighting against such oppressions and I am very optimistic that we will come out of these type of anti-crypto laws as well and shine!

[Xinarae*]

In some countries there is no law on bitcoin while in many countries bitcoin transactions are legal. Whales have an impact on bin the market while government policies have helped raise the price of bitcoin it has been banned in many countries and many traders have stopped investing when whales are on the market but the government cannot have any direct control. It imposes a policy on bitcoin outside the control of the government and by banning the public the higher the value of bitcoin the more government policies we see.

[SquallLeonhart]

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 have seen these many times. When one crypto exchange is not liquidate with the rest of the exchanges then people need to pay extra for the same cryptocurrency. It means there should be regular flow of money to be maintained so that the prices will be even everywhere when there will be a bottleneck then people will start inflate to make use of the demand.

For example, after Nigerian Central bank bans making use of cryptocurrencies, people started P2P trading but they were enforced to pay more than 25% for bitcoin and other reputed coins.

[kingkhan99]

There are many countries that have been banned by Bitcoin investing. Many people cannot invest this bitcoin because they have officially banned bitcoin investing. Many people in many countries earn bitcoin by practicing bitcoin but they cannot invest because of their government and it is seen in the country that the government has illegal in the country. And in a country where bitcoin is legal, people from the country can earn bitcoin and invest very easily

[Lorence.xD]

Governments have no shame to do everything to safeguard their own corrupt interests, even at the expense of their own citizens and their rights or benefits but, human history has a big golden period of fighting against such oppressions and I am very optimistic that we will come out of these type of anti-crypto laws as well and shine!

If you were in their position, I am pretty sure that you are going to do the same, this is all just a matter of perspective. I hope that we can see that thing from happening but we all know that this politicians will only play on our side if they are going to get something out of it.

[maxreish]

The more they regulate bitcoin, the more investors are interested into it. Governments have somehow impact with bitcoin's price movements. Like for example government imposing some controls over bitcoin probably make the trend go down.

If you'll notice, when one particular country exposed restrictions about bitcoin with of course well coordinates efforts, this might be a good reason to change the crypto market.

[mezzaluna]

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

Its good that some countries wants to utilize Bitcoin but not every country views Cryptocurrencies that way. There are some recent news regarding the Korean Government trying to place surveillance mechanisms on bank accounts that suddenly transfers huge chunks of money. Its a bit extreme because every people has the right to earn money in their own ways but this just shows that they are scared of something that they are not expecting that some people are trying to earn so much money internationally.

[arwin100]

Governments have no shame to do everything to safeguard their own corrupt interests, even at the expense of their own citizens and their rights or benefits but, human history has a big golden period of fighting against such oppressions and I am very optimistic that we will come out of these type of anti-crypto laws as well and shine!

If you were in their position, I am pretty sure that you are going to do the same, this is all just a matter of perspective. I hope that we can see that thing from happening but we all know that this politicians will only play on our side if they are going to get something out of it.

Depends on which country you are on since some of politician is just adopting the good changes made by technology since blockchain is really bringing up a good potential to the system. Lets forget about corruption since if bitcoin will successfully adopted for sure it can help to build a organic growth and demand.

Although we cannot erase the possible corruption but I think it will be minimize on crypto since they don't have any control on any of it.