Quote from: ufaiz50 on Today at 01:42:56 AM

Quote from: Sulman326 on July 22, 2020, 08:28:21 PM

The governments can't control Bitcoin because it is decentralized. It wasn't made in favour of a centralized system where one person or authority can have full power and control over its transaction. The farthest the governments can go is to impose regulations on Bitcoin transactions especially on the exchange sites.

It is true, blockchain technology is currently prioritizing decentralization so that no one has the authority to rule and every user has the same position and is convinced of the fluctuating value of bitcoin or cryptocurrency. Moreover, bitcoin was originally created for such a purpose where every user has the same rights without any third party influencing the rules of the transaction (P2P network). There is the little fact that we can adopt the concept of blockchain technology by having central authority over transactions, and still have data security and transparency.

Blockchain is already a secured feature of bitcoin having transparency through it and I think if government will going to watch over every transactions then that might do as well but we have also to embrace high transaction fee to be deducted and the purpose of p2p transaction will be defeated in eradicating third party in a transactions. Well, whatever government will do if ever they will meddle in cryptocurrency as long as there will be a balance with cryptocurrency and its use then it is going to be alright with me as long as those scammers also abusing bitcoin will be caught and put to jail.