Post
Topic
Board Economics
Re: Government policies help to grow the price of bitcoin
by
Silberman
on 27/04/2021, 17:58:43 UTC
what do you think

You're going to have to offer some examples on this. I'm not sure what you're getting at, there are too many ambiguities. Perhaps you could link to some direct legislation and explain their effects?

For instance, Nigerian government made a recent policy that band  crypto currency and its usage in the country,they even went to the extent of blocking all accounts that have ever engaged in crypto transaction but what did that lead to,it made it to be scarce in the country and all those who had it inflated there prices by adding additional amount to it and it became the most sought after crypto and its only sold on peer to peer level now
This happens with everything, governments think that by going hard against something they are somehow going to convince people to stop using it and this could not be more wrong, if there is a demand for a product for whatever reason governments cannot simply ban it and think everything is going to end there, this is simply going to create a black market that will drive the price of that product price many times higher, this is something that is widely known and it is seems is happening in Nigeria as well for what we can see.