You still think Bitcoin is uncontrollable?

[endut15]

Honestly, the idea that printing more fiat automatically gives control over Bitcoin is kind of missing the point.
Sure, governments can buy a lot of BTC with newly printed money, but that doesn’t mean they control the network or the holders. Bitcoin isn’t about preventing someone from owning a lot of it — it’s about removing the need to trust anyone in the system.

If they start printing endlessly just to buy Bitcoin, it only proves Bitcoin’s purpose even more — that fiat is being inflated and people are moving to hard assets.

So yeah, they can influence the price short-term, but they can’t “print” more Bitcoin or stop the code.

[Iamgoat]

Governments can prohibit people from using Bitcoin through their regulations, but they can never control people from using it because people can use VPN networks to bypass these restrictions.

Many people in countries that ban Bitcoin have already used this method, they use VPN networks to still access Bitcoin. So, governments can issue various regulations to restrict Bitcoin, but they cannot stop people from accessing it.

I think what many of us don't understand is government can only control access not ownership. While they can make it harder for us to trade bitcoin through banks or local exchanges, they definitely cannot be able to stop the peer to peer transfer among other people and the private wallets and this is one of the best reasons why bitcoin is regarded as the beauty of decentralization in bitcoin as it exists on the internet somewhere in the cloud and not on any country's border line. Even countries like China where they have severe and stricter bans, people are still trading bitcoin quitlely using VPNs and decentralized exchanges or even WhatsApp groups. So the government policies and politics can only push bitcoin further underground but it cannot completely eliminate it.

[Fivestar4everMVP]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Well, you definitely do have a great point but I think even the government are not allowed to print money at will, they can't print money when there is absolutely no tangible reason why the money should be printed, think about this this way...

Why do some government around the world go around to borrow money from the IMF if they have the machine and can easily print money at will? Isn't what the government should have done is turn on their machine, print money even in excess of what they need and avoiding going through that rigorous process of borrowing money from the IMF?

Any government that will embark on printing as much money as possible for the sake of buying bitcoins will have great inflation to contend with, and such government will be regarded as a failure and it will be hard for both the president of such country, as well as the central bank governor of that country not to do jail term for breaking international monetary terms or laws.

[FortuneFollower]

^ Gov thinks about itself and its citizens, not about prospects of getting as much of BTC as they can.

They are no retailers - they are an entity that is above all the others on their turf.

[Rabata]

Governments can prohibit people from using Bitcoin through their regulations, but they can never control people from using it because people can use VPN networks to bypass these restrictions.

Many people in countries that ban Bitcoin have already used this method, they use VPN networks to still access Bitcoin. So, governments can issue various regulations to restrict Bitcoin, but they cannot stop people from accessing it.

I think what many of us don't understand is government can only control access not ownership. While they can make it harder for us to trade bitcoin through banks or local exchanges, they definitely cannot be able to stop the peer to peer transfer among other people and the private wallets and this is one of the best reasons why bitcoin is regarded as the beauty of decentralization in bitcoin as it exists on the internet somewhere in the cloud and not on any country's border line. Even countries like China where they have severe and stricter bans, people are still trading bitcoin quitlely using VPNs and decentralized exchanges or even WhatsApp groups. So the government policies and politics can only push bitcoin further underground but it cannot completely eliminate it.

The government can only control centralized exchanges and monitor some of the addresses included in those exchange platforms, but they do not have the power to do much more. That is why they cannot control it in any way if they want. Those who use Bitcoin will definitely continue their activities ignoring such restrictions. The government of countries like China has also only restricted it but they have not been able to stop Bitcoin transactions. Any country in the world will be able to do only this. But they will never be able to stop the use and the massive adoption of Bitcoin.

[Dogedegen]

Governments can prohibit people from using Bitcoin through their regulations, but they can never control people from using it because people can use VPN networks to bypass these restrictions.

Many people in countries that ban Bitcoin have already used this method, they use VPN networks to still access Bitcoin. So, governments can issue various regulations to restrict Bitcoin, but they cannot stop people from accessing it.

A ban may be done in different ways not necessarily relating to the internet. In those cases VPNs are just masking the usage but are not the method that is used to bypass the ban. Peer to peer trading is how you bypass it if the ban relates to exchange services.

Government can only buy if there are sellers right? They can't continue to buy if there are no sellers or weak hands left to buy their tokens. So they would just end up with a a shit ton of fiat currencies that they can't use to buy more bitcoin. One distinction bitcoin have between fiat and fiat banking systems is that, with Bitcoin, there are no discriminations. Anyone, an individual from a remote community in South Africa to an institutional investor in Canada or even government agencies/government themselves.

They can't mint more coins and can't control the network as nodes are distributed across the globe.

This is not a real argument. In a market that is liquid like Bitcoin there will always be sellers. No matter what price Bitcoin reaches and no matter how many Bitcoin governments want to buy, they will find sellers. This would push the price up but still there will never be a time when there are no sellers.

First of all, the government cannot print money even if it wants to. Every government wants the inflation rate in their country to be low and the prices of all daily necessities to be low so that it is within the purchasing power of the people. When the government prints money, the price of their fiat currency decreases.

This is incorrect, governments are printing money all the time. You are confusing money with value. They can't print value but they can print any amount of money that they want.

The government can only control centralized exchanges and monitor some of the addresses included in those exchange platforms, but they do not have the power to do much more. That is why they cannot control it in any way if they want. Those who use Bitcoin will definitely continue their activities ignoring such restrictions. The government of countries like China has also only restricted it but they have not been able to stop Bitcoin transactions. Any country in the world will be able to do only this. But they will never be able to stop the use and the massive adoption of Bitcoin.

They have a lot more power than you state here. The thing is that there is no government that is really trying to enforce these things. If they tried to ban and enforce bans then you would see things in those countries change. Has any country criminalized the holding of Bitcoin? They have not, but if they did and tried enforcing that you'd see a different scenario playing out. Still none of this gives them power over Bitcoin, they have power over the people. That is the big difference.

[martinex]

Honestly, the idea that printing more fiat automatically gives control over Bitcoin is kind of missing the point.
Sure, governments can buy a lot of BTC with newly printed money, but that doesn’t mean they control the network or the holders. Bitcoin isn’t about preventing someone from owning a lot of it — it’s about removing the need to trust anyone in the system.

If they start printing endlessly just to buy Bitcoin, it only proves Bitcoin’s purpose even more — that fiat is being inflated and people are moving to hard assets.

So yeah, they can influence the price short-term, but they can’t “print” more Bitcoin or stop the code.

That's why the market is currently increasingly confused by the government's behavior. But, they've lowered inflation to 2 percent, but they keep printing money. Not to mention the conflicting interest rate cut issues. One side says it will be positive in the near future, with the Fed cutting by 0.25 basis points. Another is still skeptical if it's not the beginning of a large-scale easing. That right like you say above, It seems they can only reach to the point of influencing prices in the short term and for another item crutial maybe not.

[Abiky]

Yeah maybe they cannot control the network, but they can control those institutions and platform that accepts BTC on their country.

That's why we have this KYC since they want to control or limiting its anonymity. They want to know the transactions of people and also with that they can manipulate the sentiments of people.

We have seen so many times that this politicians made a circus which affect the price of Bitcoin.

KYC is all about eliminating privacy and freedom. All in an attempt to track and trace crypto users. Even if you're a law-abiding citizen, just by complying your KYC, you'd be opening the doors for the government to track all of your financial activities. They can make a link from the exchange in which you've bought/sold Bitcoin, back to your public addresses.

The only way to achieve true financial freedom is by making use of non-custodial wallets and protocols/services. It will be somewhat-challenging to buy/sell BTC this way (through a DEX or P2P exchange) due to low liquidity, but at least, it's better something than nothing. Since most people have nothing to hide, they will keep using CEXs (short for centralized exchanges) no matter what. The government will be able to control the market to manipulate prices to their hearts' content. But the core Blockchain network? That's another subject. Let's hope Bitcoin stays decentralized and censorship-resistant forever.

[Ahli38]

Honestly, the idea that printing more fiat automatically gives control over Bitcoin is kind of missing the point.
Sure, governments can buy a lot of BTC with newly printed money, but that doesn’t mean they control the network or the holders. Bitcoin isn’t about preventing someone from owning a lot of it — it’s about removing the need to trust anyone in the system.

If they start printing endlessly just to buy Bitcoin, it only proves Bitcoin’s purpose even more — that fiat is being inflated and people are moving to hard assets.

So yeah, they can influence the price short-term, but they can’t “print” more Bitcoin or stop the code.

Yes, that's right. Governments or even anyone else cannot control Bitcoin systematically. And even if they attempt to buy Bitcoin in large quantities it indicates the potential for the abandonment of fiat. Therefore Bitcoin will gain more trust. Perhaps they can influence the price of Bitcoin through potential sales. But there will be many people prepared to make massive purchases in response to a dip or even from the sell-off. So there is no reason for Bitcoin to be controlled by anyone for its value for the long term and even the system as we know Bitcoin is not a centralized system that can be controlled.

[reefsea]

I agree hat government can not  control bitcoin in terms of how it's spent, mined, and generated but can control the use of bitcoin, this fact most people always try to disagree but it's the truth, they can stop many people from using it within their territory of control  it that doesn't mean bitcoin itself will be controlled because it's far from the centralisation which government operate on.

Governments can prohibit people from using Bitcoin through their regulations, but they can never control people from using it because people can use VPN networks to bypass these restrictions.

Many people in countries that ban Bitcoin have already used this method, they use VPN networks to still access Bitcoin. So, governments can issue various regulations to restrict Bitcoin, but they cannot stop people from accessing it.

What the government is doing now, especially for those who ban bitcoin, actually for me is not to make bitcoin controllable but they are trying to slow down the current bitcoin rate a little.

The government must know that bitcoin will not be controlled in any way but by doing some regulations they make it a temporary hold so that bitcoin is not too fast in terms of movement, especially for value issues.
They can only do this because even if they have power bitcoin will continue to run and no one will be able to hold it. The government only tries to minimize but it obviously cannot be done for long.

[mak013]

The problem is if government(s) decide to ban BTC. After it BTC would be used only by freaks and criminals.

Why and how? A few years back, most countries were against Bitcoin, some even had it banned, like China, but that didn't stop people from using it, and the adoption was constantly increasing. So even if a country or a government decides to ban Bitcoin, that isn't going to completely stop people from using it, but there will still be ways for them to use Bitcoin, and it won't just be used by criminals and freaks. People in the initial stages of Bitcoin's popularity said the same thing: that Bitcoin is a currency that is only used by criminals for illegal activities, but they were proved wrong, and today, Bitcoin is being used all around the world.

So, first things first, not all governments will decide to ban Bitcoin because most have already accepted it and have regulated it, and some are thinking of doing so. That's why, the possibility of something like that happening is very low. However, if someone countries decide to do that, their people will still find a way to keep using Bitcoin and cryptocurrencies because you can't just decide to stop using something all of a sudden, especially if you have been using it for quite some time because it will become a part of your life.

First of all - you`ll become a criminal using BTC if it is banned in your country.
Before talking about adoption tell me how often you use BTC in your everyday expenses. You often pay bills, buy food, pay taxi using BTC? The main part of your everyday checks in fiat. When you need to pay - you convert BTC to fiat. How you get fiat money on your card if BTC is banned in your country? You will change country? Or you`ll become a criminal? Lots of common people would ready to use BTC if they would know, that they are breaking the law? Even such risk would be enough to decrease using BTC seriously.

[Cleanshit]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

Seems like you’re missing the point, printing money excessively will only lead the fiat lose it value and cause inflation…the government wouldn’t dare do that because they know that if they do so, their fiat will lose and and bitcoin will become more powerful especially against their currency.

Bitcoin can be regulated by the government but talking about control..the government can’t control bitcoin, and even if the government had purchase lots of bitcoin maybe 5% of the total supply _{I mean that tge highest they can possibly get} they still can’t control Bitcoin , they can only control the price and not the network.

[shield132]

Since the government can print money excessively, i believe that this is enough to have power over Bitcoin.

Before you say that "me been gullible to my own thoughts" is in fully effect, take a minute to reason with me.

All I have to do if I have the power is turn on the printer, buy as much Bitcoin as I can, since I can print I will keep changing all that fiat to Bitcoin, eventually I will have a lot of Bitcoin.

Tell me how this is not a big problem? One sneeze from me on the social media will disrupt the value of Bitcoin, it means I am in control.

Am I been gullible to my own thoughts after all? Undo the blindfold then, thank you.

I think that the only exception government in this case is the US because the dollar is predominantly the standard currency unit. I don't know what happens if the US prints money exclusively for buying Bitcoin with that printed money but if any other country prints money for that purpose, they won't be able to buy Bitcoin in a big quantity because their currency will inflate and Bitcoin is too expensive. When a country buys Bitcoin, it's firstly valued in USD and then converted into their national currency.

[BALIK]

I think that the only exception government in this case is the US because the dollar is predominantly the standard currency unit. I don't know what happens if the US prints money exclusively for buying Bitcoin with that printed money but if any other country prints money for that purpose, they won't be able to buy Bitcoin in a big quantity because their currency will inflate and Bitcoin is too expensive. When a country buys Bitcoin, it's firstly valued in USD and then converted into their national currency.

No exceptions. While the USD is the global standard currency, that doesn't mean the US can print money indiscriminately, whether to buy bitcoin or spend it on other things. That would also cause inflation and their economy would be damaged like any other country.

A simple example, if the US prints 1 trillion to buy bitcoin from the market (ETFs, whales, retail investors...). That means there will be more money circulating in the economy, and those who sell bitcoin will receive USD and then they use that money to buy other assets, goods. That would cause prices of goods and other assets to rise abnormally. Then, the imbalance between supply and demand will cause inflation to rise and even prolong.

It is no coincidence that the US public debt has grown to 37 trillion dollars and this number continues to increase every day. The reason is that the government borrows money and spends it lavishly. Meanwhile, it is no coincidence that after the Covid pandemic caused inflation to rise to 10%, the Fed had to raise interest rates and implement QT policy for the past three years. As far as I know, by doing so they have withdrawn money from the economy and the total asset runoff has reached 2.5 trillion USD. That has caused inflation to gradually fall to just over 3% today.

If they don't raise interest rates, don't implement QT and continue to print money, their economy will surely collapse.

[NewRanger]

It is no coincidence that the US public debt has grown to 37 trillion dollars and this number continues to increase every day. The reason is that the government borrows money and spends it lavishly. Meanwhile, it is no coincidence that after the Covid pandemic caused inflation to rise to 10%, the Fed had to raise interest rates and implement QT policy for the past three years. As far as I know, by doing so they have withdrawn money from the economy and the total asset runoff has reached 2.5 trillion USD. That has caused inflation to gradually fall to just over 3% today.

If they don't raise interest rates, don't implement QT and continue to print money, their economy will surely collapse.

Has the economic reset begun?

Why must it always be at the expense of so many? This is the big question. We see the market experiencing repeated corrections, one after another, driven by a single issue: a country's debt, which plays a significant role in all sectors. Indeed, in this situation, some are happy, while others deny the reality and lament the decline in the value of their currency. They are indeed taking precautions, but market sentiment is divided.

Another clean sweep.






 

[cxtreenal]

You literally need real assets. Don't forget that Bitcoin is a digital asset and an investment. If you don't have fiat then it will be impossible for you to keep buying Bitcoin. Don't get emotional about Bitcoin, it is a volatile asset. Use discretionary funds to invest in Bitcoin. None of us can predict the price, its price may fall as much as you expected. Although the possibility of price increase is very high due to limited supply, you should be prepared to manage the risk.

When there is a shortage of money supply, the government prints fiat and creates inflation, but Bitcoin is free from its influence, so there is less possibility of depreciation, but there is a close relationship between Bitcoin pumping and dumping and the global economy. As digital assets increase, keep the amount of fiat sufficient.

[DiMarxist]

Don't get emotional about Bitcoin, it is a volatile asset.

Emotions are one of the biggest enemies of successful investing. Many people buy out of excitement when the price is high and panic sell when it drops, forgetting that Bitcoin’s value often moves in cycles. Staying calm and disciplined is key to surviving the market ups and downs. Bitcoin rewards patience and strategy, not fear and greed.

[samadam007]

Doesn’t work that way. A government could print trillions and try to buy Bitcoin,but every dollar spent raises the price up. If they print $10 trillion to buy Bitcoin at $100k, the price might sky rocket to $1million before they acquire even 5% of supply. Holders win; all they have to do is offload at moon prices. The government ends up with expensive Bitcoin, but the network keeps running.

[Kagaru]

You literally need real assets. Don't forget that Bitcoin is a digital asset and an investment. If you don't have fiat then it will be impossible for you to keep buying Bitcoin. Don't get emotional about Bitcoin, it is a volatile asset. Use discretionary funds to invest in Bitcoin. None of us can predict the price, its price may fall as much as you expected. Although the possibility of price increase is very high due to limited supply, you should be prepared to manage the risk.

When there is a shortage of money supply, the government prints fiat and creates inflation, but Bitcoin is free from its influence, so there is less possibility of depreciation, but there is a close relationship between Bitcoin pumping and dumping and the global economy. As digital assets increase, keep the amount of fiat sufficient.

Indeed, many times people see Bitcoin as just a hype or a trend but forget about the reality. Ultimately it is a financial asset not just an idea or a technology. If you don't have enough fiat money to invest then buying Bitcoin is not realistic no matter how optimistic you are about its price going up in the future also It is very risky to be emotional with Bitcoin because it is very volatile.

Risk management is very important. You should only use money that you can't lose much of. Despite the limited supply there is no guarantee that the price will increase as much as you expect. It is also possible for the price to suddenly drop sometimes the market reaction is completely based on sentiment or news not on real fundamentals.

[bogdanb]

Emotions are one of the biggest enemies of successful investing. Many people buy out of excitement when the price is high and panic sell when it drops, forgetting that Bitcoin’s value often moves in cycles. Staying calm and disciplined is key to surviving the market ups and downs. Bitcoin rewards patience and strategy, not fear and greed.

Those who invested emotionally are the ones who have suffered most of the time. I had a friend who is not in the crypto world at the moment but he was eager to buy this bitcoin at one time. Although, for the sake of being my friend, I advised him to be patient and see where the market goes. Since you will not invest by maintaining DCA, if the market trend goes down a little then if you can buy, you will be able to make some profit in a short time. Then he thought that I was giving him false assurances so he invested without hesitation. A few days later, when the market gave a small down, he panicked and left bitcoin with a small loss. Bitcoin is not an investment and crypto space that is driven by emotions. If you invest by analyzing it wisely, that is what happens and if you invest with emotions, it is natural that you will lose.