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Author Topic: Is the US Government Trying To Control Crypto?  (Read 521 times)
Newchanka
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September 09, 2019, 09:48:10 PM
 #1

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

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September 09, 2019, 10:33:43 PM
 #2

If you have any question the greedy corrupt government isn't trying to influence crypto just look at what they did to Ross Ulbricht and the Silk Road story...
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September 09, 2019, 11:10:01 PM
 #3

I mean, they might think they are going to control it, sure.  But in practice, they're pretty impotent.  They'll interfere with any low-hanging fruit they can reach, but the concept as a whole is just beyond them.  They'll pass some laws that primarily affect exchanges and businesses, then maybe point to whatever dark-web criminal last got arrested and say "yeah, look at how much control we have", but in practice, they can't do much of any real consequence. 

You can't really regulate mathematics and that's basically all we're doing here.  Obscurity and security via really big numbers.

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September 09, 2019, 11:49:34 PM
 #4


Wait? Let me read it carefully?
I think the information on the article is about the new expansion of Binance to have customers from US.
It is good news for investors or traders from US, they will have a chance to join Binance legally.
So, I don't see the issue about "US government trying to control crypto" there.

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Even if the US government tries to control crypto, I am not sure it is possible like controlling USD.
I can't imagine how the US government claims to be the controller and make some regulations for crypto space.
Did the US government create crypto space? Even if they provide some proofs, I doubt the community around the world will agree.

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September 10, 2019, 12:16:12 AM
 #5

what if US really wants to support crypto, and with that, US seeks a trusted exchange, and finally chooses binance?
if we don't have evidence then it's better not to make allegations that don't have evidence, this will only trigger FUD.
but, if I were, I would prefer to receive something positive.
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September 10, 2019, 12:21:42 AM
 #6

I mean, they might think they are going to control it, sure.  But in practice, they're pretty impotent.  They'll interfere with any low-hanging fruit they can reach, but the concept as a whole is just beyond them.  They'll pass some laws that primarily affect exchanges and businesses, then maybe point to whatever dark-web criminal last got arrested and say "yeah, look at how much control we have", but in practice, they can't do much of any real consequence. 

You can't really regulate mathematics and that's basically all we're doing here.  Obscurity and security via really big numbers.

I agree. They can control all business related to cryptocurrencies, including altcoins like Libra, Ripple, etc.
Even interesting projects like BAT are being forced to do things against their principles, such as enforcing KYC to its publishers...

However, bitcoin cannot be fully controlled.

When people realize that, and altcoins become controlled, I hope we get rid of most of shitcoins.

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September 10, 2019, 12:23:59 AM
 #7

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

If you mean to control it like to own it then it is not possible as Donald Trump already declared he don't like the Bitcoin or the crypto currency concept. Maybe the US government will not control it but just want to ensure that they could monitor all transactions against money laundering.

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September 10, 2019, 12:53:15 AM
 #8

I don't think they try to control it. President Donal Trump has stated that he hates cryptocurrencies. However, this country still has a large number of currencies around the world. Besides, electronic facilities are difficult to control and manage.

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September 10, 2019, 01:34:48 AM
 #9

Government cannot control or stop any crypto because of decentralization. But it's possible to control third party platform such as exchange of ico, because they are not decentralize (except dex). They only control service provider, not crypto it self.

For binance, think it can be knife for them. In one side, this is their oppurtunity to gain crypto traders or investor from USA and proof crypto is another payment methods. In other side maybe US goverment can make any ridicolous demand to control them

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September 10, 2019, 01:45:56 AM
 #10

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

I don't think you really understood the content of this article. This has no relation with the US government trying to control crypto. Please read the article careful again.
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September 10, 2019, 01:58:32 AM
 #11

The only way that the government could manipulate cryptocurrencies (or bitcoin to be specific), is that if they have majority of the coins over the total supply. Although no one actually knows who owns who, there may be a slight probability that this may be their plan all along.

On the contrary, due to its decentralization, I doubt that there would be some kind of manipulation but there would be some monitoring done by the government. They would not intervene on the internal matters but once it affects the general welfare, that is when they would do something concrete about it.
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September 10, 2019, 03:09:44 AM
 #12

BTC is too decentralised for one government to control.
However government regulation over exchanges is needed to weed out potential scammers.

This will build trust from the masses and enable widespread adoption of BTC.


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September 10, 2019, 03:21:43 AM
 #13

every government is trying to take control of bitcoin because they don't want anything that is out of their control and decentralized but they can not do that and they have not been able to do that so far either. i still don't get how you made the leap from Binance creating yet another new platform with US government trying to control crypto! that is just Binance trying to separate the US users from the rest of them so that they don't have to impose the same regulations on the rest while forcing US specific regulations on their US users.

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September 10, 2019, 05:45:39 AM
 #14

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

Generally speaking, all governments are concerned on Bitcoin and cryptocurrency and that is why many passed legislation or laws on the trade, use and things surrounding this new "beast" so this is not just specific to the USA. Just look at China and how it was able to almost fully control Bitcoin because the government is thinking of using the many possible benefits of cryptocurrency for its own ambition. The government has all the power to make things burdensome or easier for any industry and at this point in time many people in the governments still are wary of the effects cryptocurrency can have on the global economic system so some of their actions can be hurting this industry.
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September 10, 2019, 06:15:33 AM
 #15

I have the feeling that Bitcoin users are a little bit too concerned about government influence. Many conspiracy theories appear but the whole story is just exaggerated.
Of course that governments would like to have under control something that might influence the economy and society in general that is why regulation is proposed. But don't forget that Bitcoin is based on decentralized and independent system and regulation doesn't necessary mean control in sense that is stated here.
And From the published news I don't see any intention of US government to control crypto.

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September 10, 2019, 06:15:42 AM
 #16

For them cryptocurrency is a choice, just like currencies made before, also has positive and negative values. When international payments are tried, it will become one of the first real-world applications for cryptocurrency in the banking world. I am sure in the future the American government can regulate and be able to use crypto freely.

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September 10, 2019, 06:21:42 AM
 #17

Binance just announced that their US platform would be ready in weeks. The question is, what's on the mind of the American government concerning crypto. Isn't it possible they're trying to control it like the USD? https://www.cryptoinfowatch.com/binance-us-ready-for-launch-in-weeks/

Control is such a strong word. Besides, who said that they don't have "control" already?

Look at all the normie hedge fund managers, trusts, politicians, news reporters, celebrities and big banks? trying to enter that are already in crypto.

When big institutional investors join crypto, everybody goes batshit crazy like it was actually a good thing - and that's because everyone's focused on the price. In all actuality, the government doesn't need to control Bitcoin itself - it just has to manipulate the greed of people and people are more easily controlled than Bitcoin the technology, the code and the system.

Look at Coinbase and IRS issuing those tax notices.

Every government will try to milk every cent from every gain in every territory they own in every citizen that claims to be a member of such, regardless. This is the very definition of a government - a coercive power that will do whatever it wants, using whatever resources necessary for as long as it can. Why?

Because it can.

Now, let's reverse it a bit and say that "the Government is NOT trying to Control Crypto?"

It's got other things at its focus right now, and that's illegal immigration, trade war, national security concerns, opiod epidemic and such.

To the government, Cryptocurrency is interesting. But governments are letting them simmer until it reaches the boiling point. Look at Trevon James of Bitconnect fame - he's still running around posting youtube videos like an incompetent weather reporter right?

Ask yourself "Why?"  

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September 10, 2019, 07:02:33 AM
 #18

It's a centralized exchange. They are just going to operate within the US financial regulation and KYC will be a must for users as part of compliance. Bittrex has been working perfectly in the US and keep doing so, there are so coins that they may never be able to list and some nations they will never offer services to.

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September 10, 2019, 07:11:48 AM
 #19

Ofcourse they want.they know they cant stop or ban crypto so there is only one way to save usd which is take control of ceypto.

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September 10, 2019, 07:21:19 AM
 #20

I am sure the US Government wants to control cryptocurrency as they see there is a big chance to make big money from the cryptocurrency. But they realize that it is too hard to do that thing because no one or any institutions control cryptocurrency so cryptocurrency will run by itself. Maybe the US Government want to limit the people access to use cryptocurrency so they can launch their own cryptocurrency. And they will suggest people use their currency besides using cryptocurrency.

But everything can happen as the US Government can do what they want except for controlling the cryptocurrency. We need to wait and see what will happen later.

 
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