Can governments crack down on crypto?

[Faisal2202]

I would like to know your views on the acts of repression of the crypto market:

• Can crypto continue to thrive without the support of governments?
• Do you think governments can suppress and restrain the crypto market with their power?
• If you were the head of government, would you accept or reject the crypto opportunity for your country?

Yes crypto can continue without the support of governments but the adoption rate would be higher in comparison to the factor of without. This means, if they support crypto the adoption would be higher as well. Because traditional people tend not to buy or invest in BTC or other alts but the involvement of the government has made them to consider them an option.

Thus crypto can thrive without the support. Yes, governments have enough power that they can easily crack down on crypto, If I were the head I would accept the crypto opportunity for my country because it would open new doorways and methods to make money for citizens.

[pieppiep]

we don't know the future development of crypto, but now crypto continues to develop and we hope that in the future it will develop even more than before so that it will have a positive impact on investors... if the government suppresses crypto so that crypto experiences a decline in development then it is possible that crypto will sink, but the government We can trick it by inviting cooperation and asking the government to create a tax law for crypto, so that the government cannot close it down, even if so, crypto will still be alive and can develop in the future.

The development of Cryptocurrency as long as the earth is still developing, digital currencies like this will continue to develop, meaning there will be more and more people interested in Cryptocurrency and will definitely increase the price of Bitcoin and others. But we have to know that it is not easy to keep the earth's condition safe, because sometimes human nature's greed ends up creating several conflicts and triggering wars. When a nuclear war is waged on earth, technology will be destroyed and will certainly have a negative impact on cryptocurrency prices on exchanges.

[Makus]

There are several persons out there who are getting interested in crypto every day. Even some critics are now beginning to disregard there first intention towards cryptocurrency and start adopting, my belief is that in the next few years, the price of Bitcoin will be so high due to the increase in demand and limited supply of the coin, and bitcoin would be more scarce than ever so now is the right time to build a good looking portfolio that will enable to be seen as an early investor in bitcoin. I know there are several others who might want to also make good use of the opportunities In cryptocurrency but, they are being denied the opportunity to make use of crypto based kn their governments restriction policy. However if restrictions were removed we'll be experiencing great bulls because the number of investors would definitely increase drastically

[Jamal Aezaz]

Well, it is 100% possible for governments to crack down on crypto. They think it is all about aiding nd abetting crime but it is not true at all. Though criminals use crypto sometimes to launder funds, it has other good use cases like entertainment, web3 etc

Yes the government has the power to allow the use of crypto or not and you can see that in most of the countries where the government does not allow the use of crypto one cannot use it. Maybe some individuals use it for crimes but it is not true if we say that every individual makes negative use of crypto. 

There are lots of good qualities of crypto which is accepted by most of the countries and are using crypto just for the aim of investment and trading but due to a few wrong uses of the crypto government of some countries does not allow its use. If we compare bad and good uses of crypto so we can see that it is used as a positive tool more often than negative ways.

[KryptoBull]

Yes crypto can continue without the support of governments but the adoption rate would be higher in comparison to the factor of without. This means, if they support crypto the adoption would be higher as well. Because traditional people tend not to buy or invest in BTC or other alts but the involvement of the government has made them to consider them an option.

Thus crypto can thrive without the support. Yes, governments have enough power that they can easily crack down on crypto, If I were the head I would accept the crypto opportunity for my country because it would open new doorways and methods to make money for citizens.

As people become more aware of the role of governments in the widespread adoption of crypto in the economy, things will progress faster and smoother, as is the case with the current crypto market in the US. This could lead to a collaborative and mainstream approach where people have the right to choose crypto-friendly politicians to establish regulations and a legal framework for crypto instead of harsh bans.

Some governments hate crypto and see it as a financial threat, but I believe they will soon realize that their excessive caution has caused them to miss out on many opportunities to rise in the global economy. China and Russia may be the first countries to regret their focus on CBDCs instead of BTC and crypto!

[happytime]

From the onset of cryptocurrency, all we've seen is the growth of finance, and increase in demand crypto currency. And that is because it is positive for we all, so as a president it will certainly be given to the citizens as a new method to make money.

[pieppiep]

There are several persons out there who are getting interested in crypto every day. Even some critics are now beginning to disregard there first intention towards cryptocurrency and start adopting, my belief is that in the next few years, the price of Bitcoin will be so high due to the increase in demand and limited supply of the coin, and bitcoin would be more scarce than ever so now is the right time to build a good looking portfolio that will enable to be seen as an early investor in bitcoin. I know there are several others who might want to also make good use of the opportunities In cryptocurrency but, they are being denied the opportunity to make use of crypto based kn their governments restriction policy. However if restrictions were removed we'll be experiencing great bulls because the number of investors would definitely increase drastically

Currently, more and more people are interested and curious about the movements and developments that occur in cryptocurrency. But you have to be careful because when the increase in cryptocurrency users ends up making them lose money in cryptocurrency, it will make a bad statement which can trigger a drop in prices in the market. Meanwhile, another positive characteristic is that when users increase, Bitcoin will become more widely known. The total supply of Bitcoin available will increasingly run out until one day the price of Bitcoin will soar higher than now when miners no longer get Bitcoin or it could be said that Bitcoin production has reached the maximum supply point.

[Makus]

Currently, more and more people are interested and curious about the movements and developments that occur in cryptocurrency. But you have to be careful because when the increase in cryptocurrency users ends up making them lose money in cryptocurrency, it will make a bad statement which can trigger a drop in prices in the market. Meanwhile, another positive characteristic is that when users increase, Bitcoin will become more widely known. The total supply of Bitcoin available will increasingly run out until one day the price of Bitcoin will soar higher than now when miners no longer get Bitcoin or it could be said that Bitcoin production has reached the maximum supply point.

When Bitcoin finally reaching its peak, that is, miners no longer have the ability to mine new Bitcoins into the network, they will still benefit from the fees they get from transactions. Though we can fully predict if the fees would be reduced due to improvement in lighting network or other future p2p transaction alternative to be developed. There are always persons who kick against the network irrespective of the reputation it has attained, and those could be the careless type who might have made some mistakes and got their coins stolen or hacked, or even loss their coins due to investing in shitcoins, and they using make general criticism off a single project which they lost their funds dearly.

[Mr. Magkaisa]

     -     Every government has the ability to block Bitcoin and other cryptocurrencies from entering a country. But that doesn't mean Bitcoin and cryptocurrencies won't continue to be supported by business people who have their own holdings.

Then again, there are many countries that have been rumored to have done something different with Bitcoin before they really recognized that it would help their economy. And to the people in their pocket tomorrow in the Bitcoin and crypto space too.

[Faisal2202]

As people become more aware of the role of governments in the widespread adoption of crypto in the economy, things will progress faster and smoother, as is the case with the current crypto market in the US. This could lead to a collaborative and mainstream approach where people have the right to choose crypto-friendly politicians to establish regulations and a legal framework for crypto instead of harsh bans.

Some governments hate crypto and see it as a financial threat, but I believe they will soon realize that their excessive caution has caused them to miss out on many opportunities to rise in the global economy. China and Russia may be the first countries to regret their focus on CBDCs instead of BTC and crypto!

I completely agree with your perspective. The involvement of governments in cryptocurrency can be viewed from multiple angles. On one hand, some admire the current governmental involvement, while others do not. To assess whether this involvement is beneficial, we should remain neutral rather than taking sides. Personally, I believe that government involvement is positive, as it will streamline the adoption of cryptocurrencies in the long run. However, as you mentioned, having crypto-friendly politicians is crucial. While some might consider Trump to be such a politician, I have my doubts. Various posts on this forum suggest that he has not clearly articulated his plans for crypto adoption, lacking a definitive roadmap.

This raises doubts about his promises. Furthermore, the perception of cryptocurrencies as scams or unreal is unlikely to change universally. There will always be individuals who are skeptical and resistant to change. However, some will adapt, especially those who are open to dynamic adoption.

[Fivestar4everMVP]

     -     Every government has the ability to block Bitcoin and other cryptocurrencies from entering a country. But that doesn't mean Bitcoin and cryptocurrencies won't continue to be supported by business people who have their own holdings.

Then again, there are many countries that have been rumored to have done something different with Bitcoin before they really recognized that it would help their economy. And to the people in their pocket tomorrow in the Bitcoin and crypto space too.

I don't really understand what you meant or said specially in the last part of your comment, but one thing that is certain for sure is that, bitcoin, as well as the entire crypto currency ecosystem have come to stay, governments from different countries can only try to stop or ban their citizens from making us of bitcoin or crypto, but that does not and will not deter its existence, and the citizens who have their own ways can always have access to bitcoin and crypto in general even though such access can be sometimes limited due to government restrictions and bans, or may sometimes cost them extra money for VPN subscriptions and so on, but one that remains certain for sure is that, governments can't wipe bitcoin and crypto off the face of the earth, except may Satoshi is captures and he decides to hand over the bitcoin code to the government 😂.

[Makus]

I don't really understand what you meant or said specially in the last part of your comment, but one thing that is certain for sure is that, bitcoin, as well as the entire crypto currency ecosystem have come to stay, governments from different countries can only try to stop or ban their citizens from making us of bitcoin or crypto, but that does not and will not deter its existence, and the citizens who have their own ways can always have access to bitcoin and crypto in general even though such access can be sometimes limited due to government restrictions and bans, or may sometimes cost them extra money for VPN subscriptions and so on, but one that remains certain for sure is that, governments can't wipe bitcoin and crypto off the face of the earth, except may Satoshi is captures and he decides to hand over the bitcoin code to the government 😂.

To be honest, the government are only being blinded by greed or have a one sided view of cryptocurrency else, crypto lies with great potentials of lifting the economy of a country. Let's take El Salvador as a case study, since the acceptance of crypto as a legal tender, the economy  has been in a positive growth. This is a major fact to prove that cryptocurrency is not a threat but rather an innovative technology to help balance a country's financial system and also stands as an opportunity for investment. There are lots of citizen with the thought of adopting bitcoin or crypto in general but are held back by the government restrictions policy. I'm certain most citizens are willing to migrate because of the use of cryptocurrency.

[yohananaomi]

     -     Every government has the ability to block Bitcoin and other cryptocurrencies from entering a country. But that doesn't mean Bitcoin and cryptocurrencies won't continue to be supported by business people who have their own holdings.

Then again, there are many countries that have been rumored to have done something different with Bitcoin before they really recognized that it would help their economy. And to the people in their pocket tomorrow in the Bitcoin and crypto space too.

Although there may still be those who are able to make transactions or trade without permission from the government because bitcoin cannot be, intervened,, it does not mean that the government cannot impose sanctions on those who still do not comply with the rules made by the government Because in the end it could be the government that prohibits and blocks bitcoin with the capabilities it has and adequate facilities to be able to take action against it.
I think, we cannot fight the situation where technological progress must accommodate the existence of bitcoin itself, because no matter what, I agree that bitcoin will be able to contribute to government revenue.

[milewilda]

Can government crack down crypto? Yes they could but they could only touch up the services on which they could get a hold of but talking about technical aspect
about cracking down or stopping it like Bitcoin or with those other coins which is decentralized ? Then there's no way that they could be abel to do so.

If they have been that having the ability in the first place then they would really be that definitely have done this a long time ago but look at on where we are now?
Government/Institutions are really that joining in the game. lol

[Baofeng]

Maybe we can insert here what happen to Bangladesh in the last couple of days, Bangladesh: Broadband Internet Restored After 5 Day Shut Down, Mobile Internet Yet To Be Reinstated.

So for 5 days, the government shutdown the country's internet and obviously everything crypto is going to be affected by it. So this is one example how a government can affect crypto. It's a bit scary to see that they can put a blanket on that country for 5 days and so we should be prepared as well if something happen to us or in the country that we live in. It's just a direct crypto crackdown, but if the government has the power to shutdown their internet, they crypto will definitely be affected negatively.