There's already an ongoing frightening issues going on in my country that the federal government are trying to manipulate the process of Crypto blockchain to their control by disassociating our local from the crypto exchanges and penalizing fintech banks associating with transactions on the crypto P2P.



Yes of course, crypto blockchains technology is a success and that's why the government are going mad over it since they can't break into it.
The government has no impact that contributed to the development of bitcoin currency and doesn't have documentation about the origin of bitcoin and so they can't get into it.
Bitcoinehas never tended to devalue the fiats but alternative means to make payments. Bitcoin isn't responsible for any outcome of devaluing the fiats rather the government in control of the centralized currencies does by which it depends on the countries economy growth which determines the value to the the fiats.
Bitcoin as a digital currency also do have its economy challenges at its volatile potentiality of inflation and deflations.
The government are only selfish and tasty to takeover a system which is designed to be non custodial because they could understand that potentials it's.

The blockchain of bitcoin isn't projected to be one of those techs that would be folded and unfolds to the governance of the centralized authorities.
But whichever way, bitcoin potentials of breaking the chain of poverty thats projected by the government against the poor masses can be contradicted.

When you say “help people devalue fiat”, understand that this isn’t the intention of Bitcoin. I understand it can happen but you say it like that’s the purpose. I think it will be just fine if both type of currencies can coexist and people can choose which one they want to use other than it being a battle (which Bitcoin isn’t battling against no one).

Bitcoin was never intended to devalue fiat currencies, that's not the objective of the network.

And regulations are working to a very large extent. Majority of Bitcoin users gain exposure to it through centralized channels which the government control and regulate. The pockets of users who are keen on privacy and decentralization grows smaller constantly and the government is already targeting privacy channels, making it difficult for users to stay under the radar.

I have read the list of government ruling in their respective countries that are holding Bitcoin. List of countries holding the biggest stach of Bitcoin. That means the government of thse countries are trying to gain from Bitcon rather confiscating it or selling it in the global market.

Next, we can see how a few countries like the US have come up with ETFs so that they can control a decentralized product through their financial institution. This is just the beginning we will be seeing more of such ways to try and take control of Bitcoin and it's price.

Do you still think the government are having a hard time to understand and accumulate Bitcoin for their own agenda. I doubt they are clueless and I think they are on thier path to make a decentralized economy to centralized economy.

Regulation has always been the plan of the government of many countries these days inorder to control what they don't benefit from or have a direct effect on. Since many central banks has failed to meet customer needs, the decentralized network has been seen as a salvation and as it is now being regulated, I still think it is just only some aspects of it that's controlled and it's working.

Regulations are working. Especially for centralized exchanges. They comply with a lot of government policies and the have no choice than to do it or face sanctions or be expelled from that country where they are doing business. The consequence of this is that they lose a large customer to a competitor and the lose revenue in the long run especially when it is in a country that has a growing number of crypto users. Because they put profit first over their users, centralized exchange have no other option than to bow to the regulation of the powers that be.

since we all have to comply with the KYC regardless of the success the price of BTC is going up and the adoption rate increased, they could say is working in their favor because they are also gradually taking control of the market through ETFs.

whether compromised or not, doesn't matter anymore because everyone is busy trying to live already in the current economy. we are all submissive.

With the attention of the government getting focus on regulating this technology, I think the blockchain tech is somehow successful.  If it is a failure then the government won't even pay attention to it.



I agree with the earlier replies that Bitcoin was not created to devalue Fiat currency but rather modeled to remove  third party authorities from the equation in sending transactions.  To make the fee cheaper (but with the BRC tokens and ordinals made it impossible) and give more freedom to users in terms of transactions.


Whoever had the authority will prevail unless the masses turns the table and gain the authority.  Regulations are there to restrict people and put them under control.  It does not work for the benefit of the people but rather works for the benefit of the estate.  Since setting regulations, the authority can do whatever they wanted in disguise of implementing the law, they can even pillage the money/fund/BTC of any individual in disguise of ceasing them due to money laundering.

The government understands the crypto space more than most people. They hire some of the best hands who have wide exposure and experience in the crypto space. Assuming that the government has not gotten control over the system because it is ignorant is self-deception.

One of the reasons why I think the government has not achieved its aim of controlling the cryptosystem, especially in the US is that the country ha has a working democratic system. The three arms of government are independent and the checks and balance system works to some extent. There are still crypto supporters in Congress who oppose the anti-crypto law. Crypto firms can also take their grievances to court and get judgment which favours the industry.

They can't control every aspect of Bitcoin and they don't need to. The want to control how average joe uses Bitcoin, and that's very easy to achieve - just set the rules for exchanges and other big services and that's it, because most people interact with Bitcoin through them. There's no need for sophisticated plots to take over Bitcoin mining or development if for 99% of people Bitcoin is useless when it can't be converted into $$ in their bank account.