Post
Topic
Board Nigeria (Naija)
Re: Government regulations are clogs to Bitcoin total decentralization
by
Marvelockg
on 09/11/2024, 10:44:26 UTC
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.
you know, there's a quite big difference between doing p2p transactions on an exchange and how it makes the process centralized to doing regular transaction at banks.

Exchanges are just platform that helps you own Bitcoin after which you take charge of the rest of the transaction process. It's not possible to randomly get access to who you can carry out a p2p transaction with if there's no exchanges in existence but even at that, it doesn't take out the decentralized nature of Bitcoin. Government still makes use of centralized exchanges as a way of regulating crypto but the good thing is that  you could just buy your crypto through a centralized exchange and transfer it from the exchange into your cold wallet which gives you complete control of your coin.

We can't totally say that with Bitcoin, there's no form of third party interference; there's, and if trump or several countries start to own the greater quantity of Bitcoin it might even go beyond reducing the extent of the decentralized nature of Bitcoin to the point where they get to influence Bitcoin price based on there buy or sale decision.