Quote from: oHnK on Today at 03:59:17 PM

Quote from: uneng on Today at 03:08:43 PM

The worse part if that they can force people to use only their centralized digital currencies, forbidding bitcoin and other decentralized crypto currencies. What I most fear is a bitcoin confiscation ordered by authoritarian governments towards btcs held in centralized exchanges. If something like this happened, I believe exchanges would deliver all the coins to governments without chances of reverting the decision.

If that happens then surely Bitcoin and other cryptos that are currently very high in price could return to like in 2018. But seeing this, it is not that easy for governments around the world to jointly ban and confiscate their people's Bitcoin and force to use a centralized one. Although India has taken that policy in advance. The US and many other countries are already open to developing technology.

As I was in doubt about this matter I sent a ticket to a national exchange which I'm customer asking if the government could create a law confiscating bitcoins, then the exchange just told me: well, we can't predict what the government will do.

Again I asked them in a hypothetical scenario where the government made a rule like this to confiscate bitcoins, how would the exchange act regards this matter, and they just told me to keep in the platform only bitcoins I use for trading activity and to withdraw the rest of my coins to a safe wallet. That was their recommendation.

After reading the two replies they sent me, a red sign lighted in my head...

Quote from: oHnK on Today at 03:59:17 PM

They also need a competitor that is as equal as Bitcoin, does it already exist?

There is no equal competitor to bitcoin, that is why there is a good chance governments are going to use authoritarianism to enforce their digital currencies.
Because through free will very few people would want to adopt them instead of bitcoin.