Bitcoin Forum

Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Its not possible to do , bitcoin is decentralized and no one can stop the transaction or a specific address from functioning. We switched from cash to credit cards and I think Its safe to say that cryptocurrencies will takeover in the future but probably governments will create their own digital currencies that are under their control.

So you're saying that no matter what, bitcoin cannot be traced or be frozen by the government. I guess that makes the government alittle uncomfortable.

It cannot be frozen definitely but there is a possibility of tracing , Its something possible to avoid though. You could use Bitmixer.io to mix your coins , use a new receiving address each time someone is sending you money etc...  I doubt the government will spend time to trace each individual though , Its definitely time consuming.

in my opinion,,, I guess bitcoin would never frozen while the number of users and business people themselves who use them to transact,,, it's just possible that its use will indeed be set according to the rules in force in their respective countries

Yeah I agree. Well a huge amount of money is suspicious but then we can agree on the matter that government can still watch bitcoin transactions

Well in the matter of anonymity there should be none that is able to put the transaction under surveillance and yet there is according to the comments. Right?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?

Bitcoin is a digital-exchange, increasingly in the future, people will increasingly need brevity or speed the time and place to transact quickly and easily. I see this will happen but not in the near future but will lead there and the government will not be able to stop it even if no one can trace it but it was not solely because of his Bitcoin, but rather to the person.

Since in most of the cases, bitcoin web wallets doesn't providing your own private keys, definitely you are out of control to your precious coins if you used their services for storage purposes. If ever there is a fraud activity on that said web exchanges then chances of loss coins is really possible.

About the frozen thing, basically bitcoin can't be frozen unless, as stated above, you are using a third party exchanger to hold your coins.

Security must be a good practice to enhanced if you want your bitcoins to be safe.

So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?

The only way your coins can be "frozen" is if the they push through that blacklisting idea. A group of people wanted to blacklist coins that were stolen, so they would be somehow tagged and ignored by the network, but I sincerely doubt it will ever happen. You coins can also be frozen if the transaction is not propagated correctly, but it can be corrected.

Bitcoin network can't be destroyed. When you hear some media coverage of another "bitcoin hack" they are talking about some 3rd party service being breached - like BTC exchange.
You see, bitcoin satellite services have central point of failure. Bitcoin as a network is decentralized, therefore free from direct influences.

What are good security measures while owning bitcoin? Simple: be sole owner of your private keys & backup your wallet in safe place (the best way is memorize your wallet's seed).

Hmmmm.....I'll keep that in mind.

That sounds reassuring.

That would imply that coins would not be fungible and is highly unlikely to happen.
Your bitcoin and my bitcoin are both equally valuable to the bitcoin community.  :)

Bitcoin can never really replace the fiat. It is more like cyber gold that preserves the value. Some central banks may issue their own cybercoins which can in partial to replace the fiat.

Stay away at any web wallets if you are pointing to the bitcoin storage.

Go on with the hardware wallets instead. For more infomative informative, you can googled some of it with the keyword "Bitcoin Hardware Waller" or "Ways to Secure Bitcoin". Just give a time for research and you that will benefit to you.

      Maybe yes maybe no. Say that there are some miners who refuse to include certain transactions in their block there will be others who will. There is something stronger than this which is called punitive forking if the miner insists to blacklist the transaction from an address. He needs the majority of hash power and must announce that he won't mine if chain has this transaction. Rest of the miners under this threat may decide to follow him but if they don't maybe they will create the longest chain and not only all mining process from this miner will be wasted but this transaction eventually will be in the longest chain. A more effective process is called feather forking and first time I listened it from a MOOC about bitcoin and cryptocurrencies from Princeton University but a more detailed explanation for every interested user has the forum https://bitcointalk.org/index.php?topic=312668.0

I can see a government using this idea. Whilst they wouldn't be able to block the spending of coins on their blacklist. They could taint them in their records, and log all forward transactions. Whether a mixer could avoid this, or just create more "tainted" coins would be a matter for government policy. Obviously if all output from a mixer is tainted, then that would reduce the utility of the mixer.

Thank you. It really helps

For me i think no because bitcoin is legal and found by year 2009? if government want to stop this program they can do it on the past years and many people being affected if they stop this program, i think millions of people is using bitcoin now if they stop it i think it will cause a mess. So for me they can't stop this currency :)

The government can freeze bitcoin in other way like banning them in their country but it doesn't mean that bitcoins are froze completely out there i saw many countries where the bitcoin has been banned by their government guess what? people still using it and they the government can't stop it since bitcoin is decentralized as long as you controll your private key no one can't freeze your money for whatever you do even if you do something illegal and one more important holding your bitcoin you will never be taxed, thats why i like it.

This is far from true. Currently this is miners matter. That is, if for some reason I don't stay to reason, miners they don't want to put your transaction into any of their mining blocks you can't spend your coins. Of course nobody can spend your coins instead of you but are completely worthless. This is the same as you have fiat money in any bank but you can't withdraw because there is a court decision. Some common methods are punitive and feather forking. Generally speaking is something that is not common. This does not mean that it can not be done

The government can ban bitcoin in a country, like in the history in several country the gold is banned and in which case the bitcoin can not be used. So this this sense yes the government can freeze the bitcoin in a country.

traced yes but only if the sender reveal his name because he did a purchase on some shop online for example

but frozen no unless you stop al the computer i the world, and there is not a single government that can do this alone

"Frozen" in question here might I think not like that. Frozen in question is dismissed totally bitcoin program by the government, so it can not be used again. Indeed you are right bitcoin could be banned in some countries, but that does not mean bitcoin can be frozen. Because there is no any government could frozen bitcoin, so bitcoin can not be frozen by any government despite bitcoin banned.

Freezing bitcoin by government could happen if majority of exchange market in a country becomes chaotic and uncontrolled inflation, so many are closed abruptly. will be many customers who will report to financial services authority. And that is where the government law will run. But this is very small possibility.

Frozen you meant banning? Of course government can ban bitcoin, that the bitcoin can only circulate in underground condition and will be illegal.

I feel it is not possible at this time, but there may be an opportunity for it. bitcoin is always used as a means of transaction, and if bitcoin is used by all people in the world, then most likely, bitcoin fiat can take place in some time. Well, I think the government in one country can stop this, by making it a rule to use bitcoin for obvious reasons.

But can they prevent people from using Bitcoin network? No. Can they access your software wallet and purge, froze or take your coins? No.

All they can do is ban official satellite bitcoin services from operating. Harming bitcoin network is out of their reach.

Furthermore what will be arguments they use to facilitate ban of BTC? Other than: "it is bad, as we can't control it fully"?

The government could freeze bitcoin, if too many massive crimes that occur, such as the purchase of drugs that can't be controlled anymore, or too many cases of fraudulent use of bitcoin.

Very easy, the government only a block sites like blockchain wallet provider, or all business sites using bitcoin. It doesn't freeze completely, but prevent ordinary people to gain full access in public. As long as the government doesn't prohibit the use of bitcoin (ensnared by the law), we can still access it easily.

If the government becomes greedy then they will surely ban the bitcoin because bitcoin is not in government control like gold. Bitcoin is completely ruined by the people so without opening any bank we are transferring out bitcoins easily. So there are chances that bitcoin is going to ban by the government.

Absolutely, in fact it's very easy to freeze bitcoins or rather burn them to ashes, nuke every single hard drive a full node(core wallet) is running in.
Impossible to do that because they'd to destroy the planet first.
If the core decides to change something in the protocol due to a government's pressure we could easily fork and dump the core wallet.

It is really hard to stop bitcoin. I mean, it kinda an impossible job since Bitcoin is created based on algorithm and Bitcoin has no connection with the centralized system. In general, you can not control Bitcoin. It is created for the freedom and no government or individual can take over it. Therefore, I doubt that the Government has some solutions for this issue

yes! bitcoin can take fiat's place and the government will involve in this as to stop corruption it is avery drastic step but the government should make some rules & have some obligation on different transaction so that no one bother very much. Also it is a very huge step take by the government as to digitalized the country and increase the country welfare.😊

No never it will not happent :P we dont want that and also bitcoin is created to run away from govrements laws only if it become ilegall but there is ilegall market also for buying bitcoins.

it can be stopped in one country easily, but it will keep grow in the other, still you can destroy easily any big farm, or seize it, this might put a serious dent on the network and make it vulnarable to attack, which result in destroy the market also

Freezing Bitcoins requires a hardfork, which will destroy Bitcoin's credibility. Since it's the longest chain that continues, it requires miners' consent, which would destroy the value of their new blocks. So no, it can't be frozen.

But: I've read several times that exchanges and mixers may reject Bitcoins from the Bitfinex hack. This large amount of Bitcoins can be traced back, no matter how often it's moved to different wallets.
If this would happen, the 120,000 Bitcoins can't be spend. In a way, that's the same as being frozen.

Bitcoin can't take Fiat's place, Fiat can buy anything around the world but bitcoin can too but need exchanger to convert it to Fiat. Government can step in accept this coin, but they can't stop this program because they don't have control on this program.

Government has a right to frozen the bitcoin but block chain technology makes bitcoin still alive. Block chain technology make government to solve their complex problem in to easier, so government are not at all showing any interest to frozen the bitcoin yet.

i personally have no idea about this that either it is possible trace the lost bitcoins. and when they are distributed in different wallets. but it is possible then surely we are going to lose 120000 bitcoins from the system, i think we need to make the security system more tight so that in future we do not pass from such unexpected and worst situations. and so that to uphold the confidence of the bitcoin users.

To be honestly, i dont think a government can ban (to be more precisely: has the right to ban) a "virtual currency" which isnt even a real currency..
Just because people treat it like a currency it still isn't one.
If a government could ban Bitcoin, they also could ban mathematic equations and hash functions.

But back to topic:
Bitcoins can't be frozen as long as there are enough miners with electricity  ::)

If you own the private keys to your wallet the government can't do anything about it but if a third party has control of the keys they just might get your wallet locked which is technically freezing your bitcoins
.

I don't know if bitcoin can replace fiat place. Because government not allow bitcoin to become currency, of course they can't get some tax if you use bitcoin instead of Fiats transaction. But if the bitcoin replace fiat, government will step in wiht new ideas that they gain more tax than fiat.

btc is decentralised so im pretty sure its impossiblem, but yea i highly doubt btc is going to end up replacing fiat :/

Bitcoin can be frozen if there are too many crime reports of transactions in a country. This is also true if many bitcoin exchange market becomes insolvent, all members can pursue a lawsuit, and government can use financial laws. There is currently no state to do so, governments tend not responsible. But they continued to conduct surveillance.

Miners are not related to frozen, they are same as smartphone operating system developer. government only focuses on model, report, and level of market transactions.

The protocol can't be restricted, if that's what you mean, but you can certainly get your funds frozen on an exchange if the exchange gets a court order to do so. Whatever country the exchange operates out of, they are beholden to the financial laws of that country. In fact, they have frozen the funds from high level crypto heist multiple times already.

So if you hold your own coins, no. But if it's on an exchange, yes, yes indeed they can be frozen.

This is impossible, no one can stop this deal.
The contrary, will increase the number of subscribers and the price keeps going up

What do you mean by that? don't you know what protocol is? is the mechanism that enforces some sets of rules and anything not included in protocol can not be validated in blockchain. make sure you know what it is that you want to talk about before typing nonsense.

It wont happen and government would do all the measures for bitcoin not to be recognize or block it for its citizen to commonly use it since they do know the possible effects that it would give to their country but even how hard government would stop this they cant able to do that for sure.

Thanks for the information and correction. I deleted that comment. I looked it up and found out about signature validation. Learn something new every day.

Please advise on the following. In a legal matter where the subject matter is a breach of contract and the funds at issue have been deposited in a Bitcoin a/c , will a court be able to "freeze/ preserve" that specific a/c and secure the funds therein ie preserve/secure the fund value at that point in time until the contractual legal issue has been resolved ?

I think bitcoin will work along side government mandated fiat currencies and may even be used as some sort of settlement layer between countries.  The decentralised nature of bitcoin means that it cant be stopped by any individual government,  even if country banned it some people would still run nodes.

Technically there is nothing that any sole government can do.  I have worked with banks in SE Asia and I know that there are some banks within the Americas that are looking for ways to utilize the technology from blockchains.  My solid guess is over time governments will begin to think of ways to govern their own fiat currency with a node coin.  Time will only tell on what's going to happen in the future.

Technically, bitcoin can't be frozen, but if you keep it on legal exchange which works officially and follow laws, they can froze your bitcoins. There few reasons why they can froze bitcoins: firstly, if you broke ToS of exchange, they can froze bitcoins. Secondly, exchange can get request to froze bitcoins by finance related institutions of country.

It may not be a fiat currency, yet no law has made it legal for general use within the country to country. Bitcoin can't be solidified. However, in the event that you utilize an online wallet or store your coins at a trade, these can be seized or solidified. For whatever length of time that you hold the private keys to your wallet, no one can remove your bitcoins from there.

It is not possible if bitcoins can be frozen, because bitcoin storage systems are not centralized, if anyone wants to freeze bitcoins, then they must shut down the entire internet network around the world.

Think of Bitcoins as cash burried in the desert. A court can take action against you, but as long as you don't tell them where it is, there's nothing they can do about it.

I also agree with you, besides the transaction with bitcoin is maintained and the security level is also high

This apply mostly to the users who have a huge amount of bitcoin. They can trace some but not all if you are that clever enough. Though some wallets who requires information about you and when the time the government have legalized and released a regulation they can ask that particular wallet to release information regarding its users who are in their jurisdiction and thus the addresses that are found suspicious will be questioned and failure to answer it effectively will result your account to be frozen.

Though it would be a very time consuming job, it needs to have a department that will manage these things. If ever government would want to accept and legalize Bitcoin they might as well consider this.

I think this may happen, but if you look at some facts about bitcoin, it seems that bitcoin is not possible to be frozen. Even in some countries it has given legality to bitcoin as a virtual currency that has same function as real currency.

I do not know these countries. Yes, in some cases the government turns a blind eye to the turnover of bitcoins in the first place because it is difficult to control and secondly, because at the moment it helps to attract investment, but a full treatment of bitcoin does not.

My answer is NO. Any third party willing to stop bitcoin need to invest a lot of money, a lot of time, a lot of people and resources.
Just check Andreas Antonopoulos on Youtube talking about this and you will find out how convincing he is.

The more btc continues its growth the more difficult it is to control it!! Period!

The development of bitcoin is growing so rapidly that some countries have successfully adopted bitcoin as a currency that has a similar function to real currency,with support of various parties that support bitcoin so bitcoin becomes strong and growing,with some of these facts certainly not easy to make bitcoin die and I think it's "impossible" for the next few years.

If this happens what's the difference with the dollar,?
The government should not restrict the use of Bitcoin by making regulations that would hamper bitcoin transactions.
What kind of rules are appropriate?  ???

Goto the "Receive" Tab and check the address which holds your coins that you can't spend. Then right-click and if there is an option "Unfreeze", select that. After that you should be able to use these coins/funds.

Maybe you made the address that received the funds frozen accidentally while exploring electrum.

If you look at the current bitcoin developments and are supported by growth of investors to always invest in bitcoins.It seems unlikely that bitcoin will freeze by any party.
And so big bitcoin contribution for users who have a good impact on economy of bitcoin users in various countries

NO its Not Possible .bitcoin never frozen? who can do it. Only miner can do it if there stop mining that can be possible bitcoin stop but its does not possible or the Internet stop whole world but its also not possible. After That we can say bitcoin never stop and never frozen. :)

Maybe someday bitcoin will have functions and legaliats that are parallel to the fiat currency, but to replace  function of fiat currency completely, it seems impossible.

How will the Government know you have bitcoin when it is actually private? Or has the authorities found a way to unmask the owner of a bitcoin wallet? We understand that wallets are identity proof.

Indeed, it seems difficult to do so, but if the government considers that this is a commodity that needs to be taxed, it could be the regulation will be made, although it is not easy, because the wallet is difficult to record.

Yes maybe why not bitcoin can take the place of fiat for different reasons because it's too powerful and maybe in the near future can take this place .

For now is not possible because bitcoin is always used as a means of transaction, and bitcoin is used by all people in the world :)

Yes I agree with you.
Bitcoin can make transactions easier and more flexible. For example, if you want to send money from abroad then it will pass several stages - and of course taxes - before getting to the recipient's hands. When using Bitcoin simply determines the number and destination of the recipient, you can send Bitcoin anywhere, and the more convenient tax (cap) is determined by you as the sender.
If that does not make any party losses, I do not think bitcoin will be frozen.

There are so many endorser to investing for bitcoin. So we can not worry about frozen bitcoin. And there's are many countries to adopting in support the movement of bitcoin. In then the btc increase the value.

Bitcoin being anonymous will make hard even impossible for the government to step over. There are so many bitcoin users which cannot be traced by the government. Also, as long as there are big countries to adapt bitcoin it will  not allow bitcoin to be frozen for sure. Causing it to pump.

Many people argue that bitcoin can not be frozen, but in fact major countries like China, Ecuador, Canada have made a rule about bitcoin stating that bitcoin is illegal.
And in some other countries stating that bitcoin can not be redeemed at any bank in the country. So the conclusion is that bitcoin can freeze if more and more countries make legal rules about bans on bitcoins

i think its imposible , no one can stop or freeze the bitcoin , bitcoin now is so popular and its the main coin among ohter crypto currency , if you try to freeze the coin , its either you will be killed or you will be put in jail

Maybe the government can not but the bitcoin
maker it self can...

bitcoin will not be going to frozen while a large number of bitcoin users are in this technology....

I don't see any ways how it can be done since it is decentralized system. 

NO government Can not any step for stop this Program. Because Its Depend On Miner Networking If the are stop Mining then its happen. But it not possible. The Government can't take any step for stop it because the don't know any record about bitcoin and the don't know where is setup and where controlling.

Bullshite. They may not be able to freeze coins on the blockchain via protocol, but its a government, they can kill you. Pretty easy to just detain you until they get the keys; notice that they always recover the coins whenever they bust up a dark market or catch a scammer/hacker. If it was that easy to ditch the coins and play dumb, they would never recover funds; I would send the coins to another wallet that someone else controls and play stupid until I got out of jail. To prevent this, you will be threatened with enough jail time so that this doesnt seem like a viable option.

they can torture you. they can stalk your family. they dont need to hack anything virtual to freeze your coins, they can simply freeze your life :D

It may happen if bitcoin users do not use the digital currency (in this case bitcoin) or switch to other digital currencies, but if looking at the current bitcoin development it seems impossible because every time bitcoin users continue to increase.

Bitcoin cannot take the place of fiat, cause fait has been from the beginning of the country and it is controlled by the country's government, which is also generally accepted by the country's citizens, but Bitcoin is still too young to replace fiat cause of its challenges and the government will have to be in charge of Bitcoin use before it is accepted in her country (i.e the quantity of Bitcoin within her country)

Bitcoin is a good for investment until all country accept it but fiat currency is important to run your family and your life. Bitcoin is mostly like Gold or Silver which is good for investment as the price will always go up.

yes but in exchange sites not in wallets

In Russia Putin froze it's use to all it's citizens.
It was enforced but never regulated.

So it goes on and he saw it can not be stopped.
So he is joining the technology by using it under his own terms.
Look out for the next chain he is creating with the help of Vitalik the creator of ethereum in the coming year.

Bitcoin i don`t know but the exchanges can.

Bitcoin can not be frozen, because the excess Bitcoin can be sent anywhere via the internet without having to go through a bank or sending agent. Can also be used in any country and can not be frozen. As well as Bitcoin transactions conducted unconditionally and there is no limit transfer of bitcoin.

If the government and the citizen of that support to banned or frozen bitcoin transactions I think it can. But it would not an easy hide and seek to those who used backdoor. They can only stop when those filter of Internet Service Provider may be given orders to do so. Still Virtual Private Network can be used. It's a digital war between the two until one of them surrender.

as far as I know, it can not. for now, it is impossible to freeze bitcoin. unless you have a separate site, and have such a system. bitcoin transactions happen every day, and even that makes bitcoin increasingly used. making it freeze will only degrade its quality.

Government can not do anything, they can just declare the bitcoins and activities related to bitcoins  as illegal. As bitcoin is decentralized currency, government has no authority to control and monitor it.

Track yes, there is no freeze, as you imagine, when people make deals every day. Is that forbid the Internet, but why freeze if they can get a benefit from it, depending on how to turn.

It's really hard to control. If they want to freeze bitcoin in their country I think the only way is cut the internet and i only know 1 country can totally control the whole internet connection in their country is North Korea.

It will become increasingly difficult to freeze or stop Bitcoin as Bitcoin is becoming more powerful.
If you cut Internet in your country, maybe you can, otherwise I don't want to think to the time and ressources you'd need to stop it.

Thank you chaser, It's a good advice.

I will buy one flash card and dedicate it to bitcoin storage.

In my own understanding it is impossible that bitcoin would totally replace fiat money since not all people can access to technology.  Bitcoin can be use as alternative to fiat currency.   

The improvement of bitcoin is developing so quickly that a few nations have effectively received bitcoin as a money that has a comparable capacity to genuine currency,with support of different gatherings that help bitcoin so bitcoin winds up plainly solid and growing,with some of these realities positively difficult to make bitcoin kick the bucket and I believe it's "outlandish" for the following couple of years.

In the event that you take a gander at the current bitcoin advancements and are upheld by development of financial specialists to dependably put resources into bitcoins.It appears to be impossible that bitcoin will freeze by any gathering.

No, its not possible to freeze the all the bitcoins. It will be required lot of computer power and more advanced technology which is not available at the moment.

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can somebody tell me why the US bans its citizens from ICO. I have done some research but can fathom it!

The government will always want to regulate and monitor because they want their cut. But to make it widespread, they government does need to endorse it.

Bitcoin can freeze if the community stops using and contributing. But I wonder if ETH is going to rise above Bitcoin.

Not impossible do it. Bitcoin's ownership is anonymous. decentralization , open source.
although open source, can not be anyone freeze it. unless they have access to Bitcoin's wallet
and it must also be very difficult to do.

Theoretically, it is possible. There are a few things which the government can do, but none of them are very attractive propositions in my opinion. Let's look at various scenarios one by one. First of all, the government can declare the possession of Bitcoin as a criminal offense and arrest those who are suspected of holding Bitcoins. But this can unleash a legal firestorm for the authorities. Another options is to block various exchanges and online wallets. But if a good VPN is used, these restrictions can be over-ridden. Another option may be to conduct a 51% attack, using the super-computers in the possession of the government.

Millions of bitcoin investors in China are seeing their assets partly frozen, as three major bitcoin trading platforms in the country have suspended “bitcoin withdrawal business”, as they respond to China’s central bank’s call to strengthen anti-money laundry functions.So everything is possible...

Of course not. Didn't  you notice that china banned Bitcoin due to stop or frozen it but?  Whatever Bitcoin don't care about anything.  Its just like to grow up and up and up. So I don't saw any possibly for Bitcoin can be frozen in future...

The government can't do anything with bitcoin. Any attempt to ban the use of bitcoin in one country will facilitate the transfer of capital to another country. When governments you will see that the bitcoin ban only leads to a capital outflow from the country they will stop fighting him and try to legalize it. Then everything will depend on us. We want to pay taxes and you won't pay.

It's just not possible. The whole point of a decentralized currency is exactly that. To not be controlled. But I already know that every government will either not want anything to do with it or try to get a piece of the pie. It'll be hard and slow for them though.

Also explore other crypto like ETH. Those are up and coming.

I haven't yet thought at all that bitcoin will be frozen because it's feared will probably take fiat currency's place, of course there are still many governments that still considering bitcoin / using of bitcoin by everyone.. will be officially allowed or not yet legally permitted at all or even maybe not so care about it. But i think that's a chances are small if will be happened.

bitcoin need hardware so that it is possible but  all countries can’t move as union  that make ban bitcoin system impossible

It is impossible for our bitcoin accounts will be frozen because we are the one who keeping our private keys which are all computer system generated beside we could make hundreds of bitcoin wallet with hundreds of private keys match up. If we will send our money to other wallets it very impossible to trace because of hundreds of trading sites both local and foreign.

Govt. Seek 2 option....Either Regulate it or BAN it. It is impossible to freeze all BITCOIN accounts or stop Users. Banning of BTC has to take place at world level which is not possible. They need to find a suitable solution to handle the BITCOIN economy without conflicting with users interest.

No. It's impossible cause of it is decentraliezed and noone can stop the transaction

The government can't stop bitcoin. But the government can act in other ways. First of all, they may prohibit the use of bitcoin and the special bots will track all users. In addition to this banks the government can stop bitcoin exchange operations on Bank cards. In this case, bitcoin users accounts themselves will lose interest in bitcoin.

if you mean price go to zero not think

government only can try to reduce prices and make some control  so may be ban it .

stop this program ?
no  bitcoin system is hard enough to be stopped but it is possible 

If the government has a law declaring bitcoin as illegal, then they can somehow track or closed exchanges operating in one country if only they have the machinery to do so.

In the same issue were they can’t even find any hackers when we’re talking about 1 of a thousand person in the world. Then how will any government frozen any bitcoin transactions without stopping the internet? The answer is they can’t.

Bitcoin and cryptocurrency is on a channel that is beyond the control and jurisdiction of any county it is called “internet” and the only option they can stop it when they want war on its own people.

It will happen if the government does not like bitcoin, bitcoin-related things will make monitoring for the government if the government has banned bitcoin. Hopefully this doesn't happen all over the country

It will happen if bitcoin will continue to be used only for the purpose of speculation in the cryptocurrency markets. Many believe that storing coins is investment but I don't think so. It is also a kind of speculation. Without trade, bitcoin will not survive. If the users of bitcoin will exchange and trade for bitcoin, then no restrictions of the government that will not stop.

no it is not impossible to stopping bit coins. if any country may stopped it is but total country may not stopped it. bit coins are decentralized so no one stop it.bit coins are crypto currency so it has great demand in the world so mostly any one can't stop it. maximum government not stopped it is.

What is for sure is that at some point governments are going to find the key to regulate cryptocurrencies. And one of the possibilities when this will happens, if the regulation doesn't understand the advantages that crypto technology can offer, is that the Bitcoin value will decrease due to it will not be as free as it is now and users can loose interest in a strict, ruled system.

I don't think Bitcoin can be frozen but I do think can get stuck: "The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates" this is what Kenneth Rogoff, professor of economics and public policy at Harvard University was explaining yesterday at The Guardian. I don't agree totally with the article but what is true is that if Central Banks wants to create their own digital currency for sure they will put pressure on governments to use the regulation in their favour to win the piece of cake that is cryptocurrency field. And history tells us that probably they will win.

Even though I think this is not the only possible future panorama that can exists and I am optimist that people working in cryptocurrency will be able to change the old economic system to a something more suitable for the current century.


If you are interested to know more about Rogoff theory here you have the article:

https://www.theguardian.com/technology/news-blog/2017/oct/09/bitcoin-price-bubble-government-cryptocurrency

will not be frozen if you keep both your personal wallet's key and remember as long as you keep your personal wallet's key do not tell anyone to keep your personal wallet safe

It can't be frozen bitcoin is decentralized, Many times governments shut down bitcoin but still bitcoin is alive and making it huge. maybe governments will prohibited bitcoin exchanges but the transactions itself it will not affect

 i do not think

you mean price Back to zero  . it is impossible but all things can be happen but generally bitcoin have fixed number with many trusted people so that it will nerver loss it vlaue

Why do you think bitcoin can be frozen? How?

I think it will never happen because bitcoin is the world most popular digital currency and the market cap is on the top of all other currencies. How is it possible that the world’s top digital currency can be frozen? This kind of news disappoint people and may the rivals of bitcoin can viral such news. Otherwise nothing will be happen to bitcoin and all the people in the world will see that bitcoin will be the main stream in the near future.

I also think that it will never happen becaue bitcoin is also a decentrlize currnecy and even if a coutnry will bane bitcoin it will still continue to survives because a lot of other countires has already consider bitcoin as legal currnecy, and i am sure that stilll so many other coutires are going to turn bitcoin as legal currency.

I don't think so, in my opinion bitcoin and fiat money are used in different places so we still need both, now fiat money is still the main choice of people especially those who live in village or remote areas because at this time it's use is more effective, and on the other hand the use of bitcoin still limited to internet connection. so I think we still need both.

Now I do not see the possibility of assimilation of cryptocurrencies in the economy. In order to use bitcoins the economy should work and this is only possible when using Fiat. This is the main reason why bitcoin or Aldon will never replace Fiat. There is also a variety of other reasons.

To my knowledge, from the development of bitcoin usage until now seems there has been no plan/news on bitcoin will be possible to shifting fiat currency, and if it will be planed certainly the governments will more consider it again and it will not be easily to decide it. But I think logically, I'm not believe that it is very likely to happened.. I think that until the future bitcoin will remain as a digital currency that can be said as an alternative currency from a fiat currency in general, and will always coexist throughout history.

When the authorities find criminal activity using Bitcoins I think they can freeze these Bitcoins, but just because it's being used by criminals. They have a reason to do this. To freeze everyone's Bitcoins they would need to create a new rule. Doing this the government could take out BTCs from circulation, killing the currency. That would be an easy way to do this and finish Crypto-Currency that threats estabilishment's empire.

No possible way until the government puts in place a system to faze out fiat

BTC is decentralized because of that the transaction is peer to peer from one PC to another Pc and its readily be transferred to any one with direct transaction without third party or service provider to transfer your money with enormous charges. And it has no boundary you can send it around the world. I don't know if the government has the capability to trace the flow of BTC transaction in the internet specially that everyone is anonymous.

it's not possible if the government will take something

Frozen as in like how assets can be frozen by governments? This is completely impossible. It's possible for them to monitor your known addresses, however, and track movements. If they somehow order you to not move any Bitcoins, they can't stop you, but they can punish you.

These are the questions that show how unstoppable Bitcoin is, and how it doesn't truly in any real way at all suffer any of the problems that the largest currencies of today do iu

Interesting! What happens to people who unknowingly buy coins that have been blacklisted?

Bitcoin is unique because of it's decentralized. If government decide to control bitcoin, bitcoin will lost as decentralized currency and government usually will apply tax on bitcoin just like fiat.
Well it's just same as fiat but the different only bitcoin is on digital form !

If bitcoin is able to be frozen, I think that eliminates the decentralized appeal to it. At that point they're just doing what everyone else like quickbooks does.

But I do like the escrow feature that blockchains/apps provide

there is a perfectly easy way to "freeze" the financial assets of almost anyone by a government; simply put the suspected persons in jail. they dont have to monitor, they can actually prevent you from having access to any device (because you are locked in a box) and other people that you could communicate your wishes to. it takes very little in the united states to enter this legal state; simply "resist"  arrest and you just bought a cheap ticket lol.

the only time a government can regulate a thing with little effect despite the penalties, is when that thing is so ubiquitous its too hard to police (jaywalking and marijuana). bitcoin is neither of these.

I don't think bitcoin can take place of fiat currency . The government will never let any loss happen to their currency through some other digital currency . Bitcoin can totally change the economy of a country by making it decentralized . Moreover , government will not have track on any of the transactions and activities of the users i.e  they can't let bitcoin take place of fiat money.

My answer is NO. Any third party willing to stop bitcoin need to invest a lot of money, a lot of time, a lot of people and resources.
Just check Andreas Antonopoulos on Youtube talking about this and you will find out how convincing he is.

The more btc continues its growth the more difficult it is to control it!! Period!

Maybe you mean centralized? Bitcoin is a decentralized stuff which means controlling it over will really be impossible but somehow can really be slowed down.Thinking off there are lots of services which bitcoin is involved which government can possibly impose taxes on the users of it.This is the only way they can milk out some tax into bitcoin. Frozen thing is not possible as long theres a good and strong community support on it.
We do already witness on the things been done by the government. Banning, regulating ICO and other related things but still bitcoin is standing strong.

Bitcoin is unstoppable and cannot be stopped by any states or government. Even activists cannot interfere Bitcoin's success. Even if you're in a country that totally banned Bitcoin and Altcoins you can still earn and participate blockchain activities. Even China cannot stop their people to get Bitcoin because blockchain relies within the internet networks, any place that has internet has Bitcoin access. It is for everyone and for the people.