What happens if the government gains control?

[Lens]

The government is gaining control of the cryptocurrency market by the cryptocurrency regulatory framework that is being put in place by most of the countries that are adopting it.

 

[Setho]

That is definitely going to be game over if the government is ever going to find a way in which they are going to be in control of Bitcoin. This is also generally not going to be a good thing for the ecosystem.

 

[Syldan]

Actually gaining control of the cryptocurrency by the government may have advantages and so also disadvantages. personally crypto may not be valuable as it's now though the level of risk will be reduced.

 

[Smiles20]

I do not think that there is anything that is even going to look like that because once the government is starting to take control then it means that it is no longer cryptocurrency.

 

[jordans]

may be, government control might legitimize Bitcoin and lead to an increment in costs. On the other hand, over the top control may smother development within the cryptocurrency space and lead to a diminish in costs.

 

[Sincerem]

That is definitely going to be game over if the government is ever going to find a way in which they are going to be in control of Bitcoin. This is also generally not going to be a good thing for the ecosystem.

If they have the power to really control it they will seriously regulate cryptocurrency and they also applied tax for every crypto transaction. Maybe most countries do not want to do it because I don't see anything that can prevent them.

 

[Robust]

Although at the moment I do not think the government will take control of any cryptocurrencies except the should invest in cryptocurrencies and that is what most of the politicians are doing at my side.

 

[Partisan]

When we find government presence in anything, the sole reason is for regulations. But to be sincere, regulations by the government in anything is good just to ensure modesty. Some times we witness so many manipulations in a privatized industries but with government presence, modesty will definitely set in.

 

[Shigobad2020]

I just don't pray it happens , because if the government can get access to the use of crypto currency, the use of crypto currency will be far more worse than the digital currency.

 

[tyrim88]

The beauty of the cryptocurency trading platform is that it has no control or regulation,which make the price to fluctuate at interval,though very risky to rely on,it can actually make one to get very huge returns in a short time and also loses as well.

 

[lottowinningsignal]

It is not really easy for the government to take total control of the cryptocurrency because the blockchain technology which cryptocurrency was launched makes it a little bit very difficult for third-party interference and that is absolutely how cryptocurrency is created. It uses basically the cryptographic concepts.

 

[Smiles20]

This is basically going to be the end because they will try to control everything and then cryptocurrency is not something that was meant to be controlled in the first place.

 

[HayKay]

I think they already have. This bearish run is so suspicious to me; I feel government has had a hand in this just to weaken the crypto sector that they'll have no option than to begin to think of regulation. Imagine a lot of scams being perpetrated - Luna easily comes to mind.

 

[Syldan]

The operation of cryptocurrency and all it takes will not be much effective when the government gained control of the cryptocurrency because everything will be centralized and controlled by a body.

 

[FishNPips]

It's a tough one as crypto can't expect mass adoption without a requirement to be regulated properly. Some of the recent collapses in this bear cycle have hardly helped to show that it isn't required (Terra Luna)

 

[glitch]

This is basically going to be the end because they will try to control everything and then cryptocurrency is not something that was meant to be controlled in the first place.

This is what a lot of people are saying. The more they push for regulation, the more value it drops in it seems. I can't see people wanting to keep using it if it just becomes big bank 2.0!

 

[Ononivami]

The government succeeded in gaining control of the cryptocurrency, it will become a centralised system and we will not be able to enjoy the features that we normally enjoyed, when it is decentralized.

 

[Heatman]

The government would be the last people I would like to have control over cryptocurrency because they are going to do it exactly the same thing they did with all of their fiat currencies. It's just like China have banned the use of cryptocurrency in their country and have their own coin being regulated by the government, other countries are looking at having the same control too.

 

[Syldan]

Personally it seems to me like alot of people engaged into cryptocurrency or stocks simply because the operation is decentralized not control by a single body. when government gain control, alot of people may not love to invest again.

 

[Sincerem]

Sometimes if the government gains control , the purpose for which cryptocurrency was created for has been defeated because they will want to impose task on all traders and exchanges.