Quote from: Obim34 on November 08, 2024, 07:42:19 PM

Quote from: Ishicryptic on November 08, 2024, 03:41:34 PM

Although I can't blame governments on their stance to regulate cryptocurrency, mainly because of money laundering. We however can't say that Bitcoin is totally decentralized if governments that are centralized have so much influence in some parts of it's transactions.

Bitcoin interference with the CEX does not hinders Bitcoin decentralized nature, what makes Bitcoin fully decentralized is based on how it was built, the blockchain at which Bitcoin operates fully remains decentralized as long as it exist, not even the government can have control over transactions or intercept the market in their own favor. The market is controlled by the investors, as long we all buy and sell we got major over the market. Political news can only temporal affect the market but it does not last long and quickly falls back to the original sources.

CEX's are just there to make our transactions easier, one can still do away with his transactions without involving any form of CEX, at least to monitor illegal transactions because the fight against Bitcoin is prompted from the idea that Bitcon is most likely used by scammers, and these CEX has truly helped to identify some scammers but all together, Bitcoin remains decentralized, the only option left is for Government to begin indulging into Bitcoin activities, a few has started now we wait for the majority.

It is an undisputable fact that government interferences on centralized exchanges does not hinder Bitcoin decentralized nature, the Blockchain is not controlled by any single individual or government. But another fact that we need to agree is that if these exchanges that governments have influence over are not very important for Bitcoin transactions, then they will have all phased out. With the increasing adoption of Bitcoin, we can not push aside the importance of exchanges when it comes to p2p transactions and trading. The important roles that exchanges perform in cryptocurrency generally have opened the door for governments to interfere in cryptocurrency regulations. Bitcoin is decentralized no doubt but the issue of trust and convenient transactions has made third parties like exchanges to become necessary and that is the loophole from where a government will interfere in Bitcoin.