Governments cannot control Bitcoin

[azmirihaque]

This is the main cause of rejecting cryptocurrency specially bitcoin. If government cannot control this currency, money laundering will be occurred easily. It may affects on the economy negatively. There is a way to regulate it but this scope is limited. So, I think, if there had proper regulation method and controlling ability of the government, many countries would come ahead to permit bitcoin for transaction.

[Fenix]

Regulation is a great enemy of cryptos and as such, it is unnecessary for the it future growth. Once there is regulations, we are gonna see control by governments and institutions like  banks coming in, because they known that cryptos and the blockchain that brought the cryptos has actually come to change the way things has been done before now. In short no need for regulations.

At the same time, without a certain regulation of the circulation of cryptocurrency in the territory of a certain state, further increase in its liquidity is impossible. Without the legalization of cryptocurrency by the state, it is unlikely that it will be able to gain good popularity among the country's population and be in good demand. Therefore, the legalization of cryptocurrency by states is still necessary.

[Hometown]

Governments can't control bitcoin because bitcoin has no limitations over a certain people or organisations. Bitcoin just a decentralized coins which equally familiar with world. It has no control over banking systems. No political or Pandemic can control it.

[tervel]

As long as there are people who value innovation, practicality, and freedom, bitcoin will continue to be a big middle finger pointed right at the state in the name of decentralized, permissionless order.

[bigcash2011]

Obviously this was the concept behind decentralized cryptocurrency but not many coins are truly decentralized which can effect the reputation of cryptocurrencies negatively.

[Btceth01]

If bitcoin works like banking systems, then it would be possible to control bitcoin by governments and policies.

[jonathancool220]

It's clear that Bitcoin can't be controlled by the government.
Even in various countries, this Biitcoin is a non-existent currency.
The value of Bitcoin is determined by traders, not by the government or other financial institutions

So, if Bitcoin today is 1,000 USD and tomorrow Bitcoin is 10,000 USD, it has become commonplace for all Bitcoin traders.

[Andruha1993]

Yes. That is why Bitcoin is gaining great popularity. After all, it is convenient and easy to use. I think in the future the banks themselves will start using it.

[Istiak]

But they can implemnet some law and order to use this technology as their advantage. I saw the news that south Korea govt add a 20% tax on every crypto transaction. I think Govt from other countries also thinking about add taxation in crypto so that it can be a big revenue source for them. This market is huge and its a lot of money govt losing every year.

[Senin]

If bitcoin works like banking systems, then it would be possible to control bitcoin by governments and policies.

Bitcoin can work in conjunction with the banking system, but even then the government will not be able to regulate its price or change the technical characteristics of Bitcoin.  However, organizational regulation, that is, the definition of the conditions for his walking in society is of great importance.  This is what states and their governments can do, and it will have a big impact on the circulation of bitcoin.

[Review Master]

That's always true and every government should accept bitcoin as well as other crypto-currency like other commodities. Whenever any government try to ban Bitcoin , the usage of Bitcoin started increasing and even they couldn't control it after banning Bitcoin. So, it's better to accept bitcoin or try to regulate it, IMO.

[TERMINO]

Most of crypto platform come up with decentralized system to lessen uncertainties that could cause by government. Centralized platform is limiting the amount of transactions or whatever the government says it must follow. In centralized the last word is government. In decentralized the word is anonymous member with security platform.

[tinakoya]

In decentralized the word is anonymous member with security platform.
[/quote]

The purpose of government trying to control crypto space is because they want to all the benefits for themselves and it's not possible, at least not when we have decentralized platforms. First they tried to discredit bitcoin and refer to it as scam and then they try to manipulate it (probably still doing that) They will continue to try all their best to regulate its usage as a whole but they can't control the whole crypto space

[Triedboy]

Government cannot controlled the bitcoin. It has no control over banking systems.but I believe one day the government control banking system.

[Astra]

Yes. That is why Bitcoin is gaining great popularity. After all, it is convenient and easy to use. I think in the future the banks themselves will start using it.

Banks can provide services for exchanging cryptocurrency for regular currency. However, state banks are unlikely to use bitcoin widely.