Slowly, Bitcoin is separating money from the state!

[Alphakilo]

We're starting to see Bitcoin do the same with money. For as long as we can remember, the state controlled; monetary policy, currency issuance and settlement. Then Bitcoin introduced monetary rules outside political control.

Such a revolution is historically unprecedented at a global scale.

Did you fall into a coma in 2015 and only just wake up? Bitcoin is more tightly controlled than ever, more heavily regulated than ever, and there is more bitcoin in the hands of corporations that will comply with government requirements without hesitation than ever before.

A lot of users don’t understand just how much influence government and public figures have got on Bitcoin these days. Most of these is made possible due to the various centralized system that exist within the Bitcoin framework. That’s why it sounds really strange when you find people come up like this as though they haven’t being around and wasn’t noticing all that has being going on about the currency, try to make a statement of fact.

I don't like to think of Bitcoin's control right now, but would like to focus more on how it has become more of an alternative to gold, fiat and digital currency.
The government would of course like to control any new kind of currency just to keep control of the masses and that's just why regulations, CEX, ETF, reserve banks and the likes of whatever systems they create these days to make it feel like a normal currency without being aware of it being controlled and monitored in total, is rampant and almost like the other of the day everyday.

[Floxynice]

We're starting to see Bitcoin in its own right separate money from the state, just as the internet separated information from the state.

You would agree with me that prior to the emergence and popularity of the internet, broadcasters, publishers and the government solely controlled the distribution of information. And then the internet emerged and then decentralized the flow of information.

We're starting to see Bitcoin do the same with money. For as long as we can remember, the state controlled; monetary policy, currency issuance and settlement. Then Bitcoin introduced monetary rules outside political control.

Such a revolution is historically unprecedented at a global scale.

As we're starting to see the success of Bitcoin gradually take centre stage, one can confidently say that Bitcoin would be fondly remembered as not just an asset but the birth of monetary decentralization.

Bitcoin is decentralized, yes; however, it is the sole responsibility of the individual owner of Bitcoin to determine whether Bitcoin will be a decentralized asset to him/her as described in the OP above. A lot has changed since Bitcoin was created, and one thing that is yet to change completely in the mind  of most Bitcoin adopters is the traditional money mindset. People praise Bitcoin with their words but practice the opposite.

Platforms are now helping people control their bitcoins because they hold the private keys, and governments are creeping in through that means to regulate Bitcoiners. Regulations now are on the higher side even though the government cannot directly control Bitcoin.

As it stands now, if people practice decentralization the proper way, it will be difficult for the government to impose rules on them.

[Hamza2424]

Don't you see that most countries now strictly regulate Bitcoin, and some have even tightened KYC and banned people from sending Bitcoin across borders unless they go through a regulated exchange.. the reality of Bitcoin today is not what you say, although it remains decentralized, the people who use it are now bound by government regulations that are increasingly restricting Bitcoin use for money laundering and various other reasons.

Yep, that is a point to be noticed, and the threshold is too low. For several countries, like the US, it is 3k, and for the UK it is around 1k. If we move funds from our own wallet to a centralized exchange, we even have to prove that we own the wallet, and they could ask for anything they want. Recently, Binance Australia has also implemented the same thing where the sender's and receiver's information will be required for transactions.

The OP is right about the revolution, but due to high adoption these regulated authorities have made the usage of this industry much harder for us unless we never connect our wallets directly to these exchanges and only use decentralized ones.

[tbct_mt2]

Yep, that is a point to be noticed, and the threshold is too low. For several countries, like the US, it is 3k, and for the UK it is around 1k. If we move funds from our own wallet to a centralized exchange, we even have to prove that we own the wallet, and they could ask for anything they want. Recently, Binance Australia has also implemented the same thing where the sender's and receiver's information will be required for transactions.

The OP is right about the revolution, but due to high adoption these regulated authorities have made the usage of this industry much harder for us unless we never connect our wallets directly to these exchanges and only use decentralized ones.

KYC in cryptocurrency did not exist in earliest years of Bitcoin market but with time, Bitcoin adoption growth, Bitcoin market growth to be bigger, there has been more and stricter regulations from governments in many nations. As consequence of Bitcoin growth, KYC has become more popularly in many nations and centralized exchanges have to adapt to legal regulatory changes, so they have to enforce AML and KYC on users.

What you described are like other steps to bring Bitcoin and cryptocurrency industry and transactions in blockchains become more nearly with traditional markets for more efficient, transparency, details and convenience of governments in tax regulations on their citizens. Governments want to have details from wallet addresses, senders and receivers so that they won't miss anything from citizen financial transaction history.

[PepeLapiu]

Such a revolution is historically unprecedented at a global scale.

That is correct. All prior attempts to go against the corrupt banking cartel have failed. This is why we have be extremely careful and alert. The banks and the states have been working really hard to compromise Bitcoin, and they will keep at it too. We have to stay vigilant.

Run Knots, run BIP110.

[Ahli38]

We're starting to see Bitcoin in its own right separate money from the state, just as the internet separated information from the state.

You would agree with me that prior to the emergence and popularity of the internet, broadcasters, publishers and the government solely controlled the distribution of information. And then the internet emerged and then decentralized the flow of information.

We're starting to see Bitcoin do the same with money. For as long as we can remember, the state controlled; monetary policy, currency issuance and settlement. Then Bitcoin introduced monetary rules outside political control.

Such a revolution is historically unprecedented at a global scale.

As we're starting to see the success of Bitcoin gradually take centre stage, one can confidently say that Bitcoin would be fondly remembered as not just an asset but the birth of monetary decentralization.

Yes, that’s right. Bitcoin is considered the birth of monetary decentralization. And Bitcoin is the most successful digital currency to date compared to others. Bitcoin’s performance has continued to peak as it has become widely known. And mass adoption of Bitcoin has begun to occur not only at the retail level but also at the institutional level making Bitcoin’s performance even more impressive or even more successful. But perhaps the government sees the potential for money to be separated from the state because of Bitcoin. So I personally suspect that the government wants to control Bitcoin by any means necessary. They’ve started imposing regulations on Bitcoin by attempting to bring it back under centralization. And they’re forcing people to comply with requirements so they can always be monitored. I know the government won’t be able to control Bitcoin entirely within its system. But they’ll try to control it in any way they can. They’re rulers who always want to control anything of value. Perhaps they see Bitcoin as gold that they must control and even tax on every transaction. I think they're being so greedy in this context.

[retreat]

But the current situation is that Bitcoin is becoming more regulated by governments in most countries globally. So many regulations have been imposed on Bitcoin that even those who own it are required to declare it on their wealth statements, and various other regulations regarding Bitcoin use are stricter than before. Also, institutions are now more eager to accumulate more Bitcoin and offer ETFs to users. This has made the industry more regulated and centralized than ever before.

[Rubuchi]

But the current situation is that Bitcoin is becoming more regulated by governments in most countries globally. So many regulations have been imposed on Bitcoin that even those who own it are required to declare it on their wealth statements, and various other regulations regarding Bitcoin use are stricter than before. Also, institutions are now more eager to accumulate more Bitcoin and offer ETFs to users. This has made the industry more regulated and centralized than ever before.

but does that also mean that Bitcoin is now a centralized system and no longer decentralized ? I would really want to understand this clearly because the main purpose why Bitcoin is interesting to alot of us here is simply because of its decentralized nature. I may not fully understand what regulating bitcoin means in full sense since in my country all those regulations are not enforced properly or enforced at all , I do not still have a full grasp of Bitcoin being centralized through regulations is possible. I may also want to ask what does having a non custodial wallet means and how can one protect themselves from the government regulations.