Can governments crack down on crypto?

[Denamen]

Yes, even though people talk about decentralization or something like that, crypto needs government involvement to achieve high prices. But imagine if all governments were to ban crypto. I think crypto would still survive, but it would be used among small groups and be hard to maintain a high price like it is now.

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[justdimin]

Yes, even though people talk about decentralization or something like that, crypto needs government involvement to achieve high prices. But imagine if all governments were to ban crypto. I think crypto would still survive, but it would be used among small groups and be hard to maintain a high price like it is now.

I would say that there is a limit to it though. I mean I am fine with regulations and such, but when government makes it so much crazier then it changes a lot. Let me give you an example, I am not American but I read the laws and the situation at USA right now and I can give an example there.

Right now, New York state has such a high regulation barrier that we are actually getting a lot worse and all the companies there basically either stopped working and closed their shop, or they just moved to another state, that is a state involvement, so it is still politics. At the other hand, Texas made it so clear (and has cheap energy) that there are dozens of mining companies popping up every year. See the difference? It is important to know the degree of it.

[EarnOnVictor]

Yes, even though people talk about decentralization or something like that, crypto needs government involvement to achieve high prices. But imagine if all governments were to ban crypto. I think crypto would still survive, but it would be used among small groups and be hard to maintain a high price like it is now.

The simple consequence would be the falling price of cryptocurrency assets. Not even one of them would be able to survive this and Bitcoin will lead the fall. I like the way things are falling into place with what I said that people did not take seriously at the time I started with this forum, but now, they are waking up. I hinted that the government is so powerful since my first months of joining, but as usual, people will say otherwise, they would be calling the decentralization power of cryptocurrency. Decentralization in the face of the government that has the absolute power in this regard? I don't think so.

The decentralization will only work when the websites, apps and other means by which they are being translated are allowed by the government. What if the government blocked that access? Including the CEX and DEX? People often believe in the DEX, but they often forget that it is also running online and it is people that would patronise it for it to function. What if it is now a criminal offence all over the world and strict internet surveillance is used?

I hope the day never comes, so we should embrace and cooperate with any regulation brought by the government, at least, it is better than losing everything.

[Bushdark]

Yes, even though people talk about decentralization or something like that, crypto needs government involvement to achieve high prices. But imagine if all governments were to ban crypto. I think crypto would still survive, but it would be used among small groups and be hard to maintain a high price like it is now.

The government ha sthe power to crackdown the crypto market and we should not be surprised because the power is flexible and could tune things around either form our own benefits or against our wish. Just like we have been seeing before the Bitcoin ETF was confirmed by the SEC allowing big firms to start there own Bitcoin ETF for there customers. This is one of things we should see and know about the government. The power surplus and could even be against our wish so we should not underestimate the power.

[kentrolla]

Yes, even though people talk about decentralization or something like that, crypto needs government involvement to achieve high prices. But imagine if all governments were to ban crypto. I think crypto would still survive, but it would be used among small groups and be hard to maintain a high price like it is now.

The government ha sthe power to crackdown the crypto market and we should not be surprised because the power is flexible and could tune things around either form our own benefits or against our wish. Just like we have been seeing before the Bitcoin ETF was confirmed by the SEC allowing big firms to start there own Bitcoin ETF for there customers. This is one of things we should see and know about the government. The power surplus and could even be against our wish so we should not underestimate the power.

Definitely they have power top turn things around but not through the method you have mentioned because there are whales who hodl much more than government backed institutions could ever hodl and it's Bitcoin will be decentralized but government can create hurdles like how Indian and Nigerian government are doing it right now to kill the crypto industry in their respective country. I think we should be more concerned about country banning exchange or scrutinizing users in terms of withdrawals instead of ETF which poses lesser threat at the moment.

[Wiwo]

Let be clear with something here, when it comes to control the government can control cryptocurrency regardless of which cryptocurrency it is, there is a limit to decentralisation and as long as citizens are involved in it, it can be traced to somebody, and one of the easiest way is through centralized platform which collect your informations, this have been the major issues, lately and for sure there is a need to regulate the cryptocurrency Industry and the government need to step in to save the growing market and if left unchecked there will be alot of bad actors in the market and for that even the cryptocurrency users themselves will be at risk and if anything happens there won't be always traces to that, and that effects alot of us in the pass already.

For the best result I think the government will need to be more friendly in they approach to how the deal on cryptocurrency and it regulations if not any wrong approach will trigger up a negative response from the citizens which could result to large amount of hidden transactions.

[Abiky]

The decentralization will only work when the websites, apps and other means by which they are being translated are allowed by the government. What if the government blocked that access? Including the CEX and DEX? People often believe in the DEX, but they often forget that it is also running online and it is people that would patronise it for it to function. What if it is now a criminal offence all over the world and strict internet surveillance is used?

I hope the day never comes, so we should embrace and cooperate with any regulation brought by the government, at least, it is better than losing everything.

Who said decentralized applications need the approval of the government to run or function as intended? If they do, they aren't truly-decentralized. The vast majority of so-called "dApps" rely on some kind of centralized infrastructure, so it's easy enough for governments to take action agaisnt them. When we get truly-decentralized exchanges and dApps hosted on IPFS or ZeroNet, using a decentralized TLD (ENS, SNS, Unstoppable Domains, etc), and governed by DAOs, that's when the revolution will truly begin. But I'm afraid this will become a distant dream as developers are only focused on making money. Out of fear, they will comply with government regulations. Even if that means sacrificing users' privacy and freedom.

I'm afraid centralized entities will continue to dominate the industry for as long as crypto lives. If there's only one truly-decentralized project that exists, that would be Bitcoin. The rest are compromised (ETH included). Be aware though, BTC is getting mass-accumulated by institutional investment companies. So things will only get worse in the future. It was fun while it lasted, right?

[EarnOnVictor]

The decentralization will only work when the websites, apps and other means by which they are being translated are allowed by the government. What if the government blocked that access? Including the CEX and DEX? People often believe in the DEX, but they often forget that it is also running online and it is people that would patronise it for it to function. What if it is now a criminal offence all over the world and strict internet surveillance is used?

I hope the day never comes, so we should embrace and cooperate with any regulation brought by the government, at least, it is better than losing everything.

Who said decentralized applications need the approval of the government to run or function as intended? If they do, they aren't truly-decentralized. The vast majority of so-called "dApps" rely on some kind of centralized infrastructure, so it's easy enough for governments to take action agaisnt them. When we get truly-decentralized exchanges and dApps hosted on IPFS or ZeroNet, using a decentralized TLD (ENS, SNS, Unstoppable Domains, etc), and governed by DAOs, that's when the revolution will truly begin. But I'm afraid this will become a distant dream as developers are only focused on making money. Out of fear, they will comply with government regulations. Even if that means sacrificing users' privacy and freedom.

I'm afraid centralized entities will continue to dominate the industry for as long as crypto lives. If there's only one truly-decentralized project that exists, that would be Bitcoin. The rest are compromised (ETH included). Be aware though, BTC is getting mass-accumulated by institutional investment companies. So things will only get worse in the future. It was fun while it lasted, right?

You started by slightly against my opinion but ended by still aligning with it, this is so funny. It is very easy to say that the DEX and the so-called domains that seem untouchable to you can function when the government starts clamping down on the cryptocurrency industry, well, that's if they see patronage. Perhaps, you did not think it through towards the fact that it will first instil fear in most cryptocurrency holders and users and dissuade more than 60% from using it since they do not want to be in the trouble of the government. What do you think would happen to the crypto space afterwards?

Mind you, the strong-minded people that would continue with cryptocurrency if the government is serious about the clamping down may be so fewer than expected, and you think the price of cryptocurrency will be encouraging to the point that is worth daring the government? It will even be on a selling spree due to less demand and people will be losing their fortunes to it. So what is the point of holding it? Aside from that, is it not a gadget that people are using to connect the app, website/domain, or whatever? What if Windows, Android, IOs and others stopped any operation with cryptocurrency on their gadget on the directive of the world government? Think these are through. This is the government we are talking about, unless there is a division within them, the clampdown will total, bro, that will be the end of cryptocurrency.

[bluebit25]

• Can crypto continue to thrive without the support of governments?
• Do you think governments can suppress and restrain the crypto market with their power?
• If you were the head of government, would you accept or reject the crypto opportunity for your country?

1. It is clear that government support can play an important role in promoting the development and widespread adoption of cryptocurrencies. So if it comes under intense criticism, it will be difficult for cryptocurrencies to grow, but we in this space are also seeing more government acceptance.

2.  yep, maybe so. And we have also seen some countries using their rights to issue orders requiring people to comply, whether opposing/supporting, it is part of the process of helping crypto become more known again.

3. I think the support could be coming up with many policies linked to blockchain, as well as finding many ways to apply it in life.

[SmartGold01]

Well I think the governments will want to crack down on it. But we must ask our self if it is possible for them to really do it.

China has trued to ban crypto and some other countries too. But the thing about that is you can not ban or crack down on crypto. 

The only thing they can do it try to regulate it to control it. And they are doing that now since crypto is becoming more popular.

Maybe for centralized projects they can do that. There are plenty of projects goes down and end up in closure due to Government. But in the case of bitcoin they cant touch it as there are no company or sole person that they can tend to whom to stop it cause Satoshi made this coin anonymously and decentralized which this coin may last forever.

Alternative way for government will be if they wanna shutdown internet that is the only way and I know that is not possible since every communication requires network and internet connectivity, there is no day such thing can likely happened except for those project that are centralized. Government can have full control over those projects but can't alter bitcoin progress since no one could hold to control bitcoin as they think of controlling the market instead i have understand that most of them have dive into bitcoin since they can't beat it then they join it.

[mdzahed134]

Government’s can crackdown on a specific project as like they can block IP's or URL's in a project, but there also solution if you will use VPN. They can shutdown for a individual project and it’s happened in many counties but they can't totally stopped crypto. And governments will never crackdown specially decentralised project, they can only controlled centralized project if they want.

The crackdown of crypto is very possible in the system. Crypto projects are best and good for improvement. The Government means good for the country, they're trying their possible best to eliminates cryptocurrency because they sensed it to be threats. Government have power and dominates every activities within a country, they mean good and development for a country, one of the major reasons they're not sliding back but focused on their budgets. The government have a hand in the restrictions of crypto projects in the market.

The government can do many things if they wants in their countries, as like blocking or strict restrictions in crypto, that happen in my country but i see crypto is going more popular day by day, because if they shut down a site, people resort to alternative methods as like using VPN or other ways. So government can dominate but can't totally stopped it.

[cryptoaddictchie]

Alternative way for government will be if they wanna shutdown internet that is the only way and I know that is not possible since every communication requires network and internet connectivity, there is no day such thing can likely happened except for those project that are centralized.

But do you think this solution is possible? I doubt even people from the Government cant live now without the glimpse of internet. You are right thats the only way buy considering the use of internet nowadays I doubt it will ever happened. Its like a necessity now than a means to everyone.

[Sayeds56]

I would like to know your views on the acts of repression of the crypto market:

• Can crypto continue to thrive without the support of governments?
• Do you think governments can suppress and restrain the crypto market with their power?
• If you were the head of government, would you accept or reject the crypto opportunity for your country?

Governments posses the authority to crack down on cryptocurrencies and regulate it, as demonstrated by their actions in many countries. While they they can target any person or entity involved  in illicit crypto activities without their  consent, gaining access to personnel wallets even for government entities, remains exceedingly challenging.

Examining the historical track record of cryptocurrencies for the past 15 years, it has been observed that despite government restriction they have shown remarkable growth. This resilience underscores reflects the  acknowledgement and acceptance decentralization concept.

[mvdheuvel1983]

Alternative way for government will be if they wanna shutdown internet that is the only way and I know that is not possible since every communication requires network and internet connectivity, there is no day such thing can likely happened except for those project that are centralized.

But do you think this solution is possible? I doubt even people from the Government cant live now without the glimpse of internet. You are right thats the only way buy considering the use of internet nowadays I doubt it will ever happened. Its like a necessity now than a means to everyone.

Yes it is true the people in the government can't survive without the Internet that's true and they can not get other means to Internet when the Internet is completely shutdown unless they will come and idea to build a government owned Internet which they will use for sharing of information but that can't be possible because there's no way the government of a particular country will deny her citizens access to Internet it's not possible. The only thing they can go on to do which is easily achievable is to place a ban on all forms of cryptocurrency and also set a fine or penalty for anyone who's found guilty of investing or having any cryptocurrency related activities.

[cryptoaddictchie]

The only thing they can go on to do which is easily achievable is to place a ban on all forms of cryptocurrency and also set a fine or penalty for anyone who's found guilty of investing or having any cryptocurrency related activities.

How can you ban bitcoin? Its unstoppable, unless the government forbids all citizen of each country to use it, however does people will not use it even they say its illegal now? I think some will slipped and continously use that or migrate to a country that isnt scope of ban like El Savador and other crypto friendly countries.

[snowpega]

Increasing users and high demands in the crypto field IMF has asked to give tax for Pakistani people but the funniest thing is that nobody knows how many users are involved in the crypto space in Pakistan and the Government never showed its interest in knowing that how many people are involved in crypto space in the Pakistan but for now the government has to trace the involved user in crypto space in Pakistan so that Pakistan meet the demands of IMF. Now the Thing is that how will the government trace all the users involved in the crypto space in Pakistan?

As most of the user save their data using decentralized wallets some hold it in hard wallets and some use those techniques that can never traced by anyone until they do a transaction. These kinds of users stay anonymous to avoid any kind of action them or move out of the country like Dubai to feel free in these kinds of matters haha. As a month ago we have seen that India banned cryptocurrency and many of the crypto users moved out of the country to use their holding assets.

[Bushdark]

Well I think the governments will want to crack down on it. But we must ask our self if it is possible for them to really do it.

China has trued to ban crypto and some other countries too. But the thing about that is you can not ban or crack down on crypto. 

The only thing they can do it try to regulate it to control it. And they are doing that now since crypto is becoming more popular.

Maybe for centralized projects they can do that. There are plenty of projects goes down and end up in closure due to Government. But in the case of bitcoin they cant touch it as there are no company or sole person that they can tend to whom to stop it cause Satoshi made this coin anonymously and decentralized which this coin may last forever.

Alternative way for government will be if they wanna shutdown internet that is the only way and I know that is not possible since every communication requires network and internet connectivity, there is no day such thing can likely happened except for those project that are centralized. Government can have full control over those projects but can't alter bitcoin progress since no one could hold to control bitcoin as they think of controlling the market instead i have understand that most of them have dive into bitcoin since they can't beat it then they join it.

The government has the power in there hands and we don't have to underestimate that. Although it's going to take time for the world government to decide where they are going to crackdown cryptocurrency or not. The cryptocurrency market worth so much money and they would want to reconsider that on how to actually do there thing. This will not be an easy move because almost all the countries in the world are involved in crypto and cracking it down is going to cause so much problems for us.

[babygun]

The only thing they can go on to do which is easily achievable is to place a ban on all forms of cryptocurrency and also set a fine or penalty for anyone who's found guilty of investing or having any cryptocurrency related activities.

How can you ban bitcoin? Its unstoppable, unless the government forbids all citizen of each country to use it, however does people will not use it even they say its illegal now? I think some will slipped and continously use that or migrate to a country that isnt scope of ban like El Savador and other crypto friendly countries.

Well some governments are banning certain exchanges (Belgium tried to ban Binance but they found a loophole) so you always need to be cautious. There always exchanges you can use, but cashing out to a bank account might get harder and more difficult also. Or you need to find another solution to spend your crypto.

[SmartGold01]

Alternative way for government will be if they wanna shutdown internet that is the only way and I know that is not possible since every communication requires network and internet connectivity, there is no day such thing can likely happened except for those project that are centralized.

But do you think this solution is possible? I doubt even people from the Government cant live now without the glimpse of internet. You are right thats the only way buy considering the use of internet nowadays I doubt it will ever happened. Its like a necessity now than a means to everyone.

So far internet has been the way of communication and no government could use because of bitcoin to shutdown internet just to eliminate bitcoin or control bitcoin, as a matter of facts if the internet goes off the bitcoin is but on sleeping mood whenever the internet comes back the operation of bitcoin starts again. So this solution is never possible to happened because millions of people can't afford to lose worth they have sorts for, for the internet to shut down just bitcoin.

[Vincom]

So far internet has been the way of communication and no government could use because of bitcoin to shutdown internet just to eliminate bitcoin or control bitcoin, as a matter of facts if the internet goes off the bitcoin is but on sleeping mood whenever the internet comes back the operation of bitcoin starts again. So this solution is never possible to happened because millions of people can't afford to lose worth they have sorts for, for the internet to shut down just bitcoin.

Disconnecting the internet just to prevent people from accessing BTC is not a wise move, no matter how much the government hates BTC. The internet has become extremely important to everyone, and the lack of internet can hinder the development of the country and push the economy and society into crisis.

If they really want to limit the influence of crypto, governments can issue extremely harsh bans: ban crypto trading, ban crypto ownership, ban crypto advertising... All violations will be considered as harming the national economy, the punishment will be extremely severe and that information will be spread on national media channels to warn of similar acts. I think that is the best way the government can do to stop crypto. Of course, it is only done by a totalitarian government and does not need to listen to the people's opinion.

A wiser government would want to regulate crypto and collect taxes on crypto to gain the support of the people and have more budget for national development.