Well we can and we are still enjoying the decentralized control of the cryptocurrency operation only when the government do not intervene in the operation of cryptocurrency.
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We know the concern of various government concerning the issue of cryptocurency and how the government wants to prevent a rival aspect of monetry policy and e-transactions.They are really afriad of capital flight in terms of monetry flow and movement and liquidity,and this will go a long way to affect the economy.Cryptocurrency was built with the aim of giving people the opportunity to benefit from a Decentralized financial system. This strategy was what gave it the strength and support it has , however presently actions by countries regulator seems to be suppressing the Decentralized nature of cryptocurrency.
Just as the traditional system, government wants to regulate cryptocurrency and thus be able to know the inflow and outflow of funds in the country . This might not really be a bad motive as it will help stop fraudulent activities, money laundering and tax evasion but the fact still remain that investors will suffer when this happens.
Annoymous nature of cryptocurrency was the enticing feature to many investors but with regulation there is possibility that crypto to Fiat transaction will no longer be annoymous .
Peer to peer transaction is the newest way of making this Fiat to cryptocurrency transaction annoymous but the government crack on exchanges will force them to stop offering P2P transaction in order that the transaction will come from them . In the end , Decentralized nature of crypto will start to lose it's weight. Governments may not be able to control crypto quite alright but with regulation , the strength of Decentralization is reduced. Their plan to have little control on cryptocurrency started with banning of privacy coins.
In your opinion , do you see cryptocurrency being fully Decentralized in coming years without government intervention ?
Well, what can the government do that they haven't done already but cryptocurrency still gets better and better. They can't stop cryptocurrency no matter what they do.I don't think this will be possible because from all indication government are now trying hard to get into crypto currency exchange Business and regulate it and this will be very good because they will correct some malady in the business
One of the things that most government are really afriad of,is the issue of control and regulation,if a large amount of their foreign exchange is put into cryptocurency by the larger population,it will go a long way to affect their economy.The crypto will always remain decentralized as the government will find it difficult to control it.
The government is also looking in the crypto way by introducing the central bank digital currencies
I don't think so, now it would be more difficult to do that, the only thing government can do is to create their own and make their citizens use that. Crypto will always have that anonymity.
But government are able to monitor every transaction in cryptocurrency if they want to get tax from people transacting in cryptocurrency, so if cryptocurrency is decentralized are they able to do it.Government can't regulate everything, cryptocurrency is meant to remain decentralized and not being centralized. Even if it becomes centralized, that doesn't mean fraud will end, even with fiat currencies fraudulent activities are carried out.
Since their is existence of exchange or wallet platforms they can simply regulate the activities that goes on via any other aforementioned crypto platforms due to the order of KYC verification.But government are able to monitor every transaction in cryptocurrency if they want to get tax from people transacting in cryptocurrency, so if cryptocurrency is decentralized are they able to do it.
Hmmm. But what if we are using a cryptocurrency exchanges such as trust wallet do you really think it is possible for them to monitor every transaction going on like exchanges ?Since their is existence of exchange or wallet platforms they can simply regulate the activities that goes on via any other aforementioned crypto platforms due to the order of KYC verification.