Bitcoin vs Government Control
The cluster discusses Bitcoin's decentralized nature challenging government control over currency, transactions, and monetary policy, including fears of regulation, bans, or competing central bank digital currencies.
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Isn't this a tenet of bitcoin? Not being outright controllable by the will of a government?
Makes sense; Bitcoin is a monetary system outside of the control of a government. It's likely to be favored for transactions that are outside the control of a government. They're sure to not like this.
It's technically possible, which makes a good implementation difficult to stop. Look at cryptocurrencies for an example of the struggle governments have to control such things.
The government will make Bitcoin the same way illegal as US dollars.Then they can't easily control Bitcoin.Then they will increase prison sentences for owning Bitcoins and Bitcoin apps.Then they will not be able to control that.Then they will monitor the internet for bitcoin transfers.Then they will outlaw any encryption.Then they will send out undercover police who try to pay with Bitcoin.etc.No government well let anyone take away their privilege to print money.
You're getting way off track here. The assertion was that the government is afraid that it can't stop you from spending bitcoins, the implication being that it can with cash. Bitcoin vs. USD doesn't solve your ability to purchase weaponized measles.
It totally can. Governments around the world are trying their damnest to squeeze and crush as many of their citizens liberties as they possibly can. The European Central Bank is poised to push out the digital Euro that will track every single transaction you make and can be set to burn itself in your bank account if you post an anti immigration meme on Facebook. That is the direction the world is going. The only way we are going to protect outselves is ensure that our monetary system is a decent
It's one thing for the US government to surveil people using dollars. Dollars are fiat currency issued by the United States. Generally speaking, governments have long controlled the manner in which citizens use fiat currency...for good or evil. Bitcoin is not issued by the US government. Bitcoin is not under US government control. Therefore, the government has no nexus or connection to Bitcoin. Meaning the government should not be able to put restrictions on something that they did not issu
You mean like Bitcoins? US government is not amused. Power relies on control.
Bitcoin and it's ilk are the perfect tool for government control. At first I was on board (be my own bank? sure, they're corrupt) but then someone pointed out that the Fed will simply use the technology built by these people to create a fed-coin and we will all be forced to use it. I hope I'm wrong, sounds like a nightmare. Can't even give cash for a birthday present without being taxed...
Not sure why you are getting downvoted, but you are right. Governments can ban the paper currency and lock you out from your digital currency at any time. All the mainstream media channels gets loads of advertisement money from government and they are ready to defend every move of government.