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Author Topic: IS THERE A CHANCE THAT BTC WILL BE CONTROLLED BY THE GOVERNMENT?  (Read 1614 times)
que91
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July 23, 2017, 11:14:44 AM
 #41

In fact, at the contrary of what some people usually say here, government, of any country, can control Bitcoin. For so, it simply needs to have a significant mining power, of at least ~65% of the total hashrate. Then, in the Bitmain way, they can enforce about anything they want.

Bitcoin is decentralized and I think government cant control bitcoin so just I think it will just an anrrangement with the bitcoin core and the government on how they can implement tax on bitcoin.
If the government interesting with cryptocurrency and Bitcoin, they can use technology blockchain from crypto world and creating their coin. Then, maybe they will release their coin with many function perfect and better than Bitcoin in that time, even need banned Bitcoin for helps attract investors Grin
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July 23, 2017, 11:15:39 AM
 #42

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Why do you put two different questions first you question about the government then you question about the bank. Understand that government can't control it, they can only legalize it and charge tax over it and get rich, banks are adopting the technology and not the coin which is really stupid, but sooner or later they to will adopt the coins don't you worry. In case government requires you to declare coins do it as simple as that, don't hide it then, if they term it illegal sell it to someone who can buy and accept Fiat as simple as that.

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July 23, 2017, 04:53:30 PM
 #43

If by control OP means regulation, then I should think that could be possible. However, if he refers to the absolute control of Bitcoin by the government I don't see that happening actually. In the first place you don't control what you don't understand or have a hold on. It's no gainsaying that the various governments of the world seem not to truly understand how Bitcoin works.

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JNiks_ZLisa
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July 23, 2017, 04:57:13 PM
 #44

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!
Not, BTC is international currency
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July 23, 2017, 09:44:49 PM
 #45

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!

Why do you put two different questions first you question about the government then you question about the bank. Understand that government can't control it, they can only legalize it and charge tax over it and get rich, banks are adopting the technology and not the coin which is really stupid, but sooner or later they to will adopt the coins don't you worry. In case government requires you to declare coins do it as simple as that, don't hide it then, if they term it illegal sell it to someone who can buy and accept Fiat as simple as that.

Because he doesn't have a clue what he is asking.
Most people have no clue what the government does , what the parliament does , what a central bank is and what private banks are.
They just have the feeling there is somebody evil there who has one purpose in life to make him miserable.

Everywhere you look is the fear about the government!!!!


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July 23, 2017, 09:56:49 PM
 #46

There sure as hell is a chance that governments would be able to get a hold of Bitcoin markets and restriction their activities, perhaps control a substantial part of the hashrate too. But either would just be too costly for little to no long term result. I don't think k that there be much point in even trying.

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July 23, 2017, 10:59:41 PM
 #47

We the people ARE the government.  Bitcoin is the people's currency! We decide it's fate....we can protect our interests in the blockchain or we can let others do that for us....it's our choice!  If we lose control of the bitcoin protocol, we can always migrate to another chain....the blockchain decides now, not our appointed officials.
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July 23, 2017, 11:15:41 PM
 #48

If by control OP means regulation, then I should think that could be possible. However, if he refers to the absolute control of Bitcoin by the government I don't see that happening actually. In the first place you don't control what you don't understand or have a hold on. It's no gainsaying that the various governments of the world seem not to truly understand how Bitcoin works.
It doesnt happen i think. Bitcoin is anonymous they will not even hold it or controlled it. It is not possible for them to do that i think. Thats why we like bitcoins because of that thing.

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Pearls Before Swine
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July 23, 2017, 11:23:43 PM
 #49

Bitcoin will never be controlled by the government since they just don't have the tech.
Oooohh...I'm gonna have to go ahead and disagree with you there, sir.  Governments have plenty of good tech, and they create the laws as well.  So could bitcoin end up being controlled (or heavily regulated) by government?  Yeah, I think so.  Do I think that's going to happen?  Probably not.  But you see they shut down silk road, alphabay, and all these illegal markets.  They can definitely have a powerful hand in all things bitcoin.

I do agree that because bitcoin is decentralized, it's difficult.  But possible.

We the people ARE the government. 
Yeah, OK!
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July 23, 2017, 11:25:44 PM
 #50

The government only can control the exchanger or any access to the wallet website, since Bitcoin is hard to tracked, the government won't be able to control bitcoin, the government only can make regulation and give punishment to the one that violated the rules, but to control Bitcoin is impossible, Bitcoin belong to all of us, nobody can control Bitcoin


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July 27, 2017, 05:47:57 AM
 #51

The government only can control the exchanger or any access to the wallet website, since Bitcoin is hard to tracked, the government won't be able to control bitcoin, the government only can make regulation and give punishment to the one that violated the rules, but to control Bitcoin is impossible, Bitcoin belong to all of us, nobody can control Bitcoin
This is the beauty of Bitcoin. It has given control to people over their money. All what government can do is regulate exchanges or put some tax regulations on Bitcoin. But something which is completely based on internet is still hard to regulate. There are many ways people are escaping those regulations. This is what Bitcoin was invented for. A freedom from centralised monetary system.
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July 27, 2017, 06:15:03 AM
 #52

I don't think so, government can regulate maybe but to control bitcoin sounds impossible to me.
And its not good for us either, it would be dissaster to bitcoin users and bitcoin currency itself.
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July 27, 2017, 06:32:30 AM
 #53

Hi

how about if all currencies will be known worldwide or if it will be acknowledged in all countries even coming to become the currencies of the world, what will happen to the value of each currencies, or better yet what will be the impact. Are banks will be their first enemy?
Gracias!
It is really hard to predict if that mass adoption of bitcoin will happen,but I guess that if it would ever happen our local currencies will remain the same but bitcoin will be frequently use too, considering that its price volatility will be solved. I can't even imagine the government taking control of bitcoin, I mean they had been trying for years but it got them nowhere. They are just making all sorts of restrictions in bitcoin because of that.

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