The power of digital money

[irhact]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Those assets can easily be controlled by the government and they can monitor them which is why the governments didn't have any problem with them been traded online. Bitcoin is different, Bitcoin is decentralized which means the government can't control or regulate Bitcoin which becomes a problem for them and that's what they're not allowing Bitcoin to grow.

The government wants control and they'll only allow what they can control prosper like centralized digital currency and try to kill other's although all their attempts to kill Bitcoin has failed and that's why we're now seeing some government officials now accepting bitcoin.

[LastKiss]

~snip~
Do you think bitcoin will stay if government totally remove their hands or stand against it?

Bitcoin will stay alive if people keep using it, many people bought Bitcoin because they already see Bitcoin potential as an asset. The government quietly bought Bitcoin because they see it too and they bought it at a big amount which they can pump and dump Bitcoin easily. Right now Bitcoin transaction fee is a problem that we should resolve since many people complain about the Bitcoin fees.

[SyndicateLabs]

The fact that Bitcoin has survived and thrived over the past 14 years is clear evidence that it has become an integral part of the financial and business industries. The government can find ways to control and regulate the use of Bitcoin, but it cannot end its existence. If the government tries to block the operation of Bitcoin, users and investors will find ways to use the technology in informal markets. A digital asset that is decentralized and not regulated by any government in the world. It is very difficult for the government to interfere in Bitcoin operations because it is built on a decentralized model and strong encryption. Although some countries have introduced regulations and bans on the use of Bitcoin, it is not possible to stop all its users and transactions globally.

So, there is reason to believe that Bitcoin will continue to exist and thrive in the future with or without government intervention.

[yazher]

That's because to own bitcoins, you don't need to have complicated numbers of requirements like when you are applying to open an account in a particular bank. there are lots of questions and interrogations as I had in one of the banks in our city. In the end, none of what I said mattered to them because they kept asking me for documentation which I cannot provide because I was just merely a student at the time and they didn't allow me to open an account. But when you want to have bitcoins, all you need is common sense and basic knowledge to store it and also you need to have knowledge on how to prevent yourself from getting hacked or scammed. That's why Bitcoin is a life saver and convenient compared to storing your money in the banks.

[ilovealtcoins]

~snip~
Do you think bitcoin will stay if government totally remove their hands or stand against it?

Bitcoin will stay alive if people keep using it, many people bought Bitcoin because they already see Bitcoin potential as an asset. The government quietly bought Bitcoin because they see it too and they bought it at a big amount which they can pump and dump Bitcoin easily. Right now Bitcoin transaction fee is a problem that we should resolve since many people complain about the Bitcoin fees.

I agree, I also believe that many governments bought bitcoin because no one doesn't want a lot of money. But they have to do their part, to counter the things that go against their centralization principles, they have to spread negative news about bitcoin in the media. But then they quietly buy bitcoins, and since bitcoins are anonymous, we won't be able to tell who is who. I wouldn't be surprised if when bitcoin hits $1 million, many countries will announce that they hold a lot of bitcoin.

[tygeade]

Bitcoin is an assets that we shouldn't lose or allow to dies off, if you check history of all money weather digital or paper bitcoin circulate faster in values and distributions. As highly respected as dollars not all countries have it but bitcoin is 14 years now, the world is aware of it. Do you think bitcoin will stay if government totally remove their hands or stand against it?

What did you mean about paper Bitcoin?

Will Bitcoin stay if the government completely ban Bitcoin? it depends on how you define what stay is.

Bitcoin is decentralized, even the government completely ban it, the citizens can still buy, trade or hold Bitcoin using DEX. But they need to consider to protect their privacy because the government can easily track their citizens who use Bitcoin and they might go to jail since they broke the country's laws.

Maybe he means paper money or fiat as there is no such thing as paper bitcoin. There are some fan made physical bitcoin but they are like a coin. There is also a thing called paper wallet. Bitcoin does remain even if there is a ban because it is decentralized. Even if this planet earth explodes, bitcoin will still be safe and sound because it has a different habitat.

Yes, it is possible to bypass the restrictions made by our government but I think I am not brave enough to cross those lines. If it's possible for me to live and survive before the bitcoin came, I can be able to do that again without the help of it. If we are good citizen we must learn to obey rules.

[Games.Bitcoin]

Digital money, also known as cryptocurrency, possesses the transformative power to revolutionize the way we transact and store value. It enables secure, peer-to-peer transactions without the need for intermediaries such as banks or government institutions. With its decentralized nature, digital money fosters financial inclusivity, granting access to individuals in underserved regions who lack traditional banking services. Additionally, its underlying technology, blockchain, ensures transparency and immutability, minimizing fraud and enhancing trust. Digital money has the potential to empower individuals, streamline global transactions, and drive economic growth in the digital age.

[crypticj]

if you think about it, digital money sounds scary because you can lose it in seconds. But if they are not controlled by the banks but belong to you, it gets much safer and better.

I think crypto is the future of digital money. The fact that you can hold as much bitcoins as you want and withrow it in any country you want and no one can tell you nothing. It's crazy how easy and fast it got to send and receave money with BTC.

[Rupok]

Bitcoin is not dependent on anything, but I think if all governments accepted Bitcoin, Bitcoin could go far.  People consider cryptocurrency as one of the sources of income. Governments of every country act as a centralized organization and they consider Bitcoin as a decentralized cryptocurrency.Although some countries' governments have adopted Bitcoin, I think the development of those countries will increase.  Sending and receiving money is very fast as Bitcoin transactions are very easy.Digital money empowers individuals to access their money however they want.  Every country is going digital now, as well as digital currencies should be adopted by the government.

[rat03gopoh]

But if they are not controlled by the banks but belong to you, it gets much safer and better.

It doesn't guarantee security if you don't have sufficient security knowledge.

Bitcoin is not dependent on anything,

Bitcoin depends on infrastructure: electricity, internet and activities: mining, and nodes. And actually the government can influence some of these components.

but I think if all governments accepted Bitcoin, Bitcoin could go far.  People consider cryptocurrency as one of the sources of income.

This requires some preparation, especially in terms of crime risk protection. Bitcoin cannot simply become a source of income without "business" activity, including deception.

[serjent05]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

The government won't immediately adopt the concept of Bitcoin since it grants everyone financial freedom, whereas the government is only interested in the meager revenue it can raise through taxes.
Crude oil and gold are traditional trading goods that are still in use, but the concept of Bitcoin has eliminated the notion of gold investment for young people since they now perceive it as being safer than investing in actual assets like gold.

It is obvious that government will be hesitant at first.  Just imagine how many years it takes before Bitcoin become the concern of the government?  How many years it takes before the first government that accept it legal tender appear?

Bitcoin being a newly emerging industry and its decentralized nature make the government hesitant about it.

Bitcoin is not dependent on anything,

Bitcoin is dependent on its developer, miner, and community.  Any one of it missing will make Bitcoin collapse but surely Bitcoin is not dependent on the government.

but I think if all governments accepted Bitcoin, Bitcoin could go far.

Not only far but will also dominate the financial industry competing against the dollar as a widely used currency.

Governments of every country act as a centralized organization and they consider Bitcoin as a decentralized cryptocurrency.

The government doesn't just act as centralized, they are centralized organization that has authority over a country, it is obvious that Bitcoin isn't centralized so there is no need for the government to consider it as decentralized because it is really a decentralized cryptocurrency.

[Woodie]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex

You know this is so...because all the mentioned gold, currencies etc are all regulated assets and these are guided by stock exchange rules to be traded.

but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

This is not a valid argument,  people have lived a good life through scamming & fraud and the perfect example is Hushpuppi and are we going to say just because it elevates one from poverty or any kind of impoverishment then govts should be all thumbs up with this..I don't think so!

Of course I bet this isn't what you meant but its relatable and governments at this point what everything regulated to support them.

Bitcoin is an assets that we shouldn't lose or allow to dies off, if you check history of all money weather digital or paper bitcoin circulate faster in values and distributions. As highly respected as dollars not all countries have it but bitcoin is 14 years now, the world is aware of it. Do you think bitcoin will stay if government totally remove their hands or stand against it?

As long as Bitcoin sits on a technology called the internet that we heavy rely on today, be it transportation, health, finance etc I don't think our governments have to power to stop btc and cryptos in general!

[light_warrior]

No matter what any government does, none of them can stop Bitcoin. Crypto is here to stay and it will soon replace the old financial system.

I wouldn't be so sure about that. Cryptocurrency as an ecosystem could just disappear in an instant. It would take the will of the powers that be. Another thing is that they have no such desire, because cryptocurrency brings them a very good income and they can safely hide their income from taxes. States and governments are not against cryptocurrencies, in principle. They are not fighting cryptocurrency as such. They are fighting against the use of cryptocurrency for illegal transactions. This is my opinion and may not coincide with the opinion of others.

[coinremitter]

Compared to fiat currency, Digital currencies are very powerful in-terms  of control. You can control your own coin. There is no interference from the government, no one can rob it or counterfeit it. You can use it globally and expand your business internationally. I don't find anything more powerful than this.

[someone703]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Of course, assets like gold and crude oil can be controlled more easily than bitcoin. Because they have existed for a long time and there are regulations made in accordance with them. As for bitcoin, due to its decentralized nature, it is not controlled by anyone. This is contrary to the way the government is doing it, so they try to contain them. But this is really difficult, and it seems that some policies aimed at blocking have failed, so now it is possible that some in the political system have stepped back and taken action in support.

[tjtonmoy]

As long as the government has the ability to control or manipulate something, they will have no issue regarding the usage of it. Because they want to keep us in the system, which is also called the matrix by many. Bitcoin in the source of freedom in this matrix. So there's no way that the higher powers will allow us so easily use it. This proposes a threat to their so-called "system". Those who are already out of the matrix will understand the value of bitcoin.
And to answer the last question, the government is incapable of doing anything to Bitcoin. It's totally decentralized and the creator himself is unknown. The success and failure of Bitcoin is in its user's hands. So the and is no. Bitcoin will not disappear that easily.

[TimeTeller]

As long as the government has the ability to control or manipulate something, they will have no issue regarding the usage of it. Because they want to keep us in the system, which is also called the matrix by many. Bitcoin in the source of freedom in this matrix. So there's no way that the higher powers will allow us so easily use it. This proposes a threat to their so-called "system". Those who are already out of the matrix will understand the value of bitcoin.
And to answer the last question, the government is incapable of doing anything to Bitcoin. It's totally decentralized and the creator himself is unknown. The success and failure of Bitcoin is in its user's hands. So the and is no. Bitcoin will not disappear that easily.

And the proof that no government can make this market disappear, was when China banned the usage of crypto.
Considering its economic status in the world, it may have had a short impact in the crypto market.
But we have seen that crypto particularly bitcoin survived and up until now, people are using it.
They realize now that they won't be the reason for bitcoin to disappear, so right now, they are changing their stance again towards crypto.
We know fiat is still the preferred payment method, but let's be grateful that we have alternative option today, which is crypto.

[Smartvirus]

Crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Bitcoin any other cryptocurrency out there doesn't exist to alienate poverty. Its a hard condition to be in but, its a part of our society and has got its place in societal stratification. The cryptocurrency  operates merely as a transfer of wealth as it is used in payment for goods and services as well as traded in the crypto market. This implies an exchange of purchasing power as one is been debited to credit the other. Hence, while one gets more crypto asset, the other is losing some crypto asset as well. Now, there isn't any certainty that the rich are losing to the poor in an equilibrium state, but the poor can be the once making these loses and getting even poorer.

Crypto doesn't make you rich, nope. Your ideas and how your able to apply them in the field is what enrichess you.

[Fivestar4everMVP]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Bitcoin is an assets that we shouldn't lose or allow to dies off, if you check history of all money weather digital or paper bitcoin circulate faster in values and distributions. As highly respected as dollars not all countries have it but bitcoin is 14 years now, the world is aware of it. Do you think bitcoin will stay if government totally remove their hands or stand against it?

Well, at the initial beginning, peeps probably did not believe that bitcoin would be what it is today and where it is today, for many, it is still a mystery, I personally believe that even satoshi himself or herself, or their group never expect the kind of success bitcoin have achieved, it all started with a line of code on probably an old computer, and in 2009, something was burn that would completely change the way the world see and value money, bitcoin has become a force that can't be reckoned with, the government probably have deviced several means they can get hold of bitcoin, but have discovered it's impossible to ever be controlled by a single entity..

[BVeyron]

Before the existence of bitcoin they're many other digital economic assets that is in line with government policies like crude oil, gold and much more, government where comfortable with this assets trading online, including forex but crypto currency like bitcoin that would have change lives and alienates poverty from the world, government are afraid of its cumulative value.

Bitcoin is an assets that we shouldn't lose or allow to dies off, if you check history of all money weather digital or paper bitcoin circulate faster in values and distributions. As highly respected as dollars not all countries have it but bitcoin is 14 years now, the world is aware of it. Do you think bitcoin will stay if government totally remove their hands or stand against it?

Actually both crypto and fiat face similar problems now. Fiats have become digital, while crypto can be only in digital form. The main components for them to function is
1. Stable network of data processing mainframes (mining facilities in crypto and banking networks in fiats)
2. User-friendly interface (wallets for crypto and online banking services for fiats)
3. Support (branches and ATMs in fiat and support teams in crypto)
4. Privacy (multiple cryptography and decentralisation technologies)

So all the problems come from these things, and both fiat and crypto are continuously dealing with them.