Bitcoin is like a democracy that no government can control

[B-BossMan]

I think most government recognize bitcoin, but it has not been accepted as a currency. Government accept it as an asset and a means for saving money or the nation's reserve,  not as a means of currency. I also really don't think that it will be easily accepted as a currency,  but I believe that it will remain as a good asset. Bitcoin in my opinion is more of an investment to the people and government. The government does not have control over it and I believe that it will stay like that for a very long time. I totally understand that change is constant , but in the case of bitcon it will not be easy for it to be accepted as a currency,  but I think we should just enjoy it as an asset and means of investment for now.

Governments don't have to accept Bitcoin to validate it's value so even if they don't make it their legal tender as far as it's not banned in their countries that should be enough acceptance both for them and their citizens, they can hold it as a store of value. Let us remember that Satoshi did not create Bitcoin to replace traditional centralized currencies, it was created as an alternative to fiat so by all means Bitcoin is not in competition with any traditional currencies, it is available for those who wants to hold decentralized currencies for their privacies. Today many people, institutions and governments that holds Bitcoin is not because they want to spend it as a currency rather they are holding it as an asset because of it's potentials to increase in value over long periods.

Whether governments uses Bitcoin or not it can never go down, that's the most interesting part about the bitcoin, it doesn't entirely depends on anyone. So many investors can make decisions for themselves by using it or buying bitcoin and hold for years,  as they has a genuine believes on it system and knows how valuable it is. Despite the Government presence can actually gives bitcoin a well recognition and increases the bitcoin adoptions, governments alone cannot gives the bitcoin it relevance. If actually one can mange his or her bitcoin effectively, there's no need in depending on our normal traditional currencies, well I just believed that not all the governments has same intentions towards Bitcoin, as I am sure that some are interested in Bitcoin investment by holding it for long-term growths.

[Webutxo]

The governments of the world will use Bitcoin for their benefit, they can keep it as a reserve, they can make transactions but they will not recognize it because if they recognize it, the people will consolidate financial power and challenge the power against the government,
because the current control of the money of any country is the real power of the state and the government knows it very well if it is recognized, a great revolution in the money power of the people will happen.
So while most of the government has power, it buys and saves it secretly and when it loses power, it uses it silently but does not recognize it.

So I think the Bitcoin money and savings system is a reflection of democracy.

Bitcoin doesn't relate to system of government, it relate to the financial system created by the government. If you loo at the Bitcoin genesis, it talk about the collapse of the banking system and the bail out. It relate to the government but it's more about the freedom of finance that the government is using to limit people and how they have failed to make the bank a better place for fiat in the last decades, the fiat system is a complete failure to humanity.

If you say Bitcoin is a system government, that means we can decide to change Satoshi as the founder of Bitcoin, we can decide to change the developers, we can decide to change those people that running the node because regardless of the system, whether it's anarchy, kingship or anyone, there must be a change. However, Bitcoin is more about the freedom of financial, where no one can controls about what we do with our money and how we do with them.

[Juicyhome]

Op democracy is the government of the people by the people and for the people. But  it's not decentralized like bitcoin,  the president control the subregion because they're answerable to  the president,  in bitcoin no investigators is answerable to anyone it's purely decentralized no government or agency can't control bitcoin,  in democracy the people only vote and elect their leaders that's thr only right they have.  In bitcoin everyone has equal rights same market price, unlike democracy where the public actors enjoy some privileges over the people.

Secondly many countries has mentioned by some seniors members has adopted and recognises bitcoin,  government are interested in bitcoin even when they have no control over it, they have seen the potential of bitcoin and how it has transformed,  its not competition for the powerful countries,  they have reserved in bitcoin is only countries that have. O vision that won't adopt bitcoin.

[salad daging]

These countries already recognize bitcoin, they recognize it as property, ^{(so it's wrong to assume they will not recognized)}

• United States
• Australia
• United Kingdom
• Canada

Not only is bitcoin recognized as an asset, many other countries, including my own country, as a commodity asset, but payments will never be accepted by the local government.
About the transaction, we are in tax control, as long as it is at an exchange that has regulations, if you hold it in your mandiri wallet, I have not found the info, but you can report it independently if you want.
Returning to the OP's question, I think indeed at the moment the government cannot control, someday they will make whatever regulations they want.

[CryptoHeadlineNews]

Bitcoin doesn't relate to system of government, it relate to the financial system created by the government. If you loo at the Bitcoin genesis, it talk about the collapse of the banking system and the bail out. It relate to the government but it's more about the freedom of finance that the government is using to limit people and how they have failed to make the bank a better place for fiat in the last decades, the fiat system is a complete failure to humanity.

If you say Bitcoin is a system government, that means we can decide to change Satoshi as the founder of Bitcoin, we can decide to change the developers, we can decide to change those people that running the node because regardless of the system, whether it's anarchy, kingship or anyone, there must be a change. However, Bitcoin is more about the freedom of financial, where no one can controls about what we do with our money and how we do with them.

It seems you misunderstood what OP meant, because he never said Bitcoin is a system of government, but he said Bitcoin is LIKE a system of government, which is democracy. And if you are to look very well, you will notice that they both indeed have similarities between the two. Because just as bitcoin is a system of government whereby its the people who decide who governs them, Bitcon on the other hand is a decentralized digital asset whereby its still the same people that determine its price value. And the same way the people are important with democracy, thats the same way they are also important with Bitcoin too.

[Supreme Donvic]

Government has recognized Bitcoin but they have not recognize it as a legal tender in their country, must government will never recognize it as a legal tender and if this those not happen how have they recognized it, must government only see bitcoin as an investment not as money and that is why they will not recognize it as a legal tender.

In the other way, because of the way bitcoin is structured I can say or I can agree with you based on your thread title that Bitcoin is like democracy.

[Nathrixxx]

Do we actually think that people are not controlling the way democracy is running, bitcoin is more advanced than what we can refer to as being the same as how democracy operates, because those in charge of democracy are centralized and we are considering for a decentralized network here, whereby everything will be done based on protocols that are trusted not to be influenced by any external constraints and this is why bitcoin remains the answer to every financial demands for privacy and financial freedom.

[Sonia_123]

And that is why most persons/leaders are scared of adoption because they cannot control it, the financial freedom that Bitcoin gives every individual and make people feel free on how to handle their funds by themselves at any point in time is what most leaders does not want for their citizens, they need total control of their countries finance, the fear of them losing the counties financial system to Bitcoin is what they don't want .

[Sandra_hakeem]

The governments of the world will use Bitcoin for their benefit, they can keep it as a reserve, they can make transactions but they will not recognize it because if they recognize it, the people will consolidate financial power and challenge the power against the government,

So I think the Bitcoin money and savings system is a reflection of democracy.

What doesn’t mean recognised in your post? You know, even El Salvador accepts Bitcoin as legal tender, and some other countries have approved Bitcoin ETFs that allow retail investors to invest in Bitcoin? Isn’t that a recognition? You can replace 'recognise' with 'control'.

We've been entirely sandwished in-between such an egregious level of corruption that it's now impossible to have people give room for lateral thinking. It could be as a result of a passive life system passed down to them by their parents, so they can't question anything for fear of not knowing what could befall them.

That's the situation some countries have put their citizens. That's how they have redefined democracy. That being said, it can never be the best analogy, especially since Bitcoin has long served its purpose and still does, and the adoption process expands on every bull run.

The government or anyone won’t control Bitcoin. Because it’s decentralised, democracy is the source of centralised power. People apply votes to select centralised governments. On the other hand, sometimes we have been hearing about vote manipulation, where Bitcoin can’t be manipulated. You can’t compare Bitcoin with democracy.

It doesn't get any better.

[Dareo]

-snip-

But it may not be possible for the government to ignore Bitcoin completely and bury it forever in this world. In today's world of globalization, if any country neglects it, then it will become easy for its money to shift into some other country which is supportive towards cryptocurrency. The government wants to retain its power, but at the same time, they are also becoming aware that legalizing Bitcoin and taxing it will just increase their burden. Like in America where once the attitude towards the crypto currency was very bad, now they are trying to have indirect control of it through the approval of ETFs. It will be recognized one day by all countries, but for the benefit of their own power and not for the financial freedom of common people.

[Junii]

but they will not recognize it because if they recognize it.

Mate i agree with your point like in which you are saying that not a single entity has control over bitcoin but i disagree that governments never officially recognize bitcoin because US and other countries in the europe  recognize  bitcoin. I am from Pakistan our country government put a ban in 2018 on crypto currencies but now last year they recognize it and make a whole new government authority with a name PVARA which will deal the bitcoin and other crypto related stuff. So not just people but also governments also recognizing the bitcoin because if i say it is a financial sovereignty i won't be wrong.

[Smartprofit]

I think Bitcoin is far more dangerous to those in power than democracy. 🙋

Bitcoin is a decentralized currency for cyberspace. For some reason, people agreed with officials that cyberspace should be regulated by national laws. However, if you think about it, cyberspace is more of a supranational structure. It was created not by individual states, but by the combined efforts of people living on different continents. People could adopt a declaration of cyberspace independence and become independent from their governments online.

In my opinion, this is precisely what politicians and officials fear. That's why they dislike Bitcoin so much. Bitcoin constantly reminds them of the possibility of realizing the concept of cyberspace independence. And for them, that would be fatal. 🧑‍💻

[Slow death]

Many African governments, in particular given their dictatorial systems dislike their citizens having access to Bitcoin, as doing so would undermine their ability to exert total control over the population. In these dictatorial regimes, the system operates much like a mafia, with a highly organized hierarchy. The ruling party maintains control over all businesses by mandating that a party member be included as a partner in every company.

Consequently, they gain control over banks, corporations, the entire government apparatus, and the judiciary everything falls under the party's sway. Naturally, they will not tolerate Bitcoin, as it threatens their grip on power; if individuals across the country were to possess Bitcoin, learn to invest it effectively, and accumulate significant wealth, they would gain the financial means to oppose the dictatorial regime potentially even sparking a revolution.

[Woodie]

Some of these countries that recognize bitcoin to be legal tender only do so because they want to use these coins when they seize any coins from their raids and all that.. otherwise if their intentions were genuine, we would have been hearing things like the US government 500milliom worth of Bitcoin but nothing of this kind happens.. somthis recognition is all to serve their interests!!

Re: Bitcoin is like a democracy that no government can control

Maybe a hybrid kind of system because in a democracy you can be over thrown which is a characteristic that doesn't exist with bitcoin.