Bitcoin Forum

What do you think about this statement? Yesterday, at the Libra Facebook hearing, we heard positive bullish news for bitcoin and negative statements about Libra.
A Congressman: Bitcoin is Unkillable and Unstoppable. TV news already discussing possibility of mainstream adoption.  Talking about regulations and allowing emmergence of cryptocurrencies. They are talking about bitcoin and how mainstream could it be in the future. So they are slowly considering crypto adoption.

They new this from Bitcoin inception and here they have Concord to that fact. Technology can't be ban and destroy, except you stop it growth before it get to the masses and in this case now, we have already gotten into the business and making gains from it, then is unstoppable and it can't be ban.

The state and politicians act classically. At first does not notice. Then he laughs. Then fights. Next prohibits. Finally, accepts. With Bitcoin, everything will be fine, we are waiting for the MOON!

I completely agree with your statements, for more than a decade the governments have been trying to destroy Bitcoin, but they won’t succeed!

Yes, they laugh at me when i opened a topic - (Usa government adopting crypto)
https://bitcointalk.org/index.php?topic=5165556.0

Good thing they realized it. Many are still against it but reality is we still cannot hinder this. Some parts of cryptocurrencies and blockchain technology has better technology than the existing ones.

Well, what do you know, some politicians have done their homework. Best thing they can do is embrace it and see how to benefit from it.

As i have said before, Libra can be stopped easily, like any other centralized altcoin. But you cannot shutdown Bitcoin, as simple as that.

I am so positive that at the end of the day, all of these hullabaloos will just boil down to regulations and this is the fact that we as an industry has to face -- accepting the fact that while Bitcoin and Libra for that matter can be here to stay so does the government. Of course, the government has to exercise its oversight function and it has to have a pie of the action. I am looking forward to the time when the government and the whole industry would be cooperating though they can be critical of each other from time to time as Bitcoin is supposed to be the disruptor and the government is opting for the status quo.

Lets hope finally they are understood what they are dealing with.Bitcoin is world people digital currency.An independent digital currency.Bitcoin not a currency that controlled by government or government supported companies or organizations.You can do whatever you want without paying tax.Its up to you.Do you want to see all money got ban in single day without any statement? If you like that you can choose Libra.If you want to be independent choose bitcoin.End of story.

More reason why they will accept the fact that, its right time to join the  cryptocurrency industry and grow with it. US will find it difficult to regain their position as the world power if they refuse to adopt this technology. For these to come out of the Mount of the Democrat then, we are on the right side and Sooner we will get the big answer from them.

Since this is Unkillable And Unstoppable! they should adopt it as soon as possible because they are the only one we need I mean we need their positive statement and their acceptance of the cryptocurrencies so that we can see a massive movement of the price today.

After this statement, we hope that there will be more positive view of our very own bitcoin. in the near future, we can see a positive impact about it and the price will no longer struggling to get to $15,000 anymore. it will soon to reach $20,000 if they're just honest with one single positive statement it will really affect the price in a positive way trust me.

Many coins have been created since the evolution of Bitcoin and some of these coins died but we still see BTC. Why? To me is because of the early mass adoption of Bitcoin by the crypto community and also its integration into so many products or industries.

The best thing any country can do with bitcoin, is legalize it as parallel legal tender. This way merchants would be allowed to receive bitcoin or fiat, and pay wages in either.

Tourists for example wouldn't need to bother with bringing money and exchanging it anymore. Sooner than later bitcoin will become world's currency. Today several countries don't directly accept USD, for example, because its associated with USA. Bitcoin is associated to, nobody, therefore no country has any political reason to reject it. We can replace USD with EUR, RUB or CNY, same logic applies.

One of the major obstacles for adopting a world currency is always what country or group of countries are behind it. Well, with bitcoin that discussion doesn't exist. I wouldn't be surprised if someday the UN endorses it. Worldwide opposition is minimal, a mere 15 countries, and these will probably reconsider their mistake (after watching the wealth go to their neighbors).

Trump may think America is invincible, but he is quite wrong there, his policies can hurt her badly. To Bitcoin i wouldn't matter if they ban it (the world will route around it), which i don't think it would go well with the various States already regulating it, so i don't think it will come to pass. It is nice they have a good debate in there, knowing some politicians do know the subject gives good hope.

I think the Unkillable/Unstoppable comment is far more worth than Trump's "I don't like it". Besides, many new technologies people may not like at first, but they get used to it. Digital cameras, electric cars, smartphones, you name it. We can go to the past for several technologies that came and went with the exact same sentiment coming (mostly) from the same age group.

Congressman Supports Bitcoin and against Libra!

Bitcoin is really unkillable. He is decentralized. And Bitcoin will not be able to stop. Therefore, I fully agree with congressman's words. I think the state will soon be able to accept bitcoin

That's true,Bitcoin is Unkillable and unstoppable because many people believe on it ,used it,patronized it, hold it,and invest on it, not only the ordinary people but most of them are people in a higher class of living. I don't think if there is even a single person that can stop bitcoin since it was generated already in a whole world. Much better if government legalize it because bitcoin already helped a lot of people.

It is in times like this that i really appreciate the tweets of Mr John McAfee, apparently he his the only one with big balls enough to confront the government and their shenanigans, rest of the crypto community are too concerned about short term gains that they can sell at every little tweet from big time Fudders ::)

It's impressive that they recognize the potential of bitcoin, cryptocurrencies and most especially, block chain technology. This could be the beginning of a new wave of massive growth and mainstream adoption. I just hope block chain technology is ready for that.

The congressman has realized that bitcoin has come to stay and it will stay for life the only options is available now is about regulating it after it adoption, that of Libra will be subjected to a lot of screening and scrutiny already there has been a lot of it criticism when it was pronounced how it going to survive will remains a subject of discussions in days ahead already President Donald Trump had cast his aspersion on it already.

This is a nice contrast to Trump's tweets the other day.

It's a relief to see that sentiment in Congress is not completely negative, and to see acknowledgement that the government is impotent to stop Bitcoin. These were some pretty powerful statements (https://finance.yahoo.com/news/congressmen-bitcoin-unstoppable-libra-not-160423528.html) made at the hearing today:

They have made several attempts on the bitcoin by collaborating with the media to cause FUD about bitcoin and see how the users could abandon it, since it can't be shut down, the more they did this, the more bitcoin gets stronger and more expensive, so they are now finally coming to reality to seeing way they can support its adoption.

here you go

At least there is some breath of fresh air. US lawmakers really understand that Bitcoin is unstoppable as this point, who's in the person that they're going to summon? Craig Wright?  ;D. So it's good to hear from them some validation that it is here to stay as people are slowly adopting it and the best way is to have a  regulatory framework. "It you can't beat them, join them", is the best approach to Bitcoin and the rest of crypto.

I do not have to look into a crystal ball to tell you what is going to happen in the near future with Crypto currency legislation in the USA. The government want to control Crypto currency use and the only way to do that is for them to regulate it and also to make sure that the regulation protects the US economy.

So, they will enforce strict KYC/AML requirements on any Crypto currency use and they will put restrictions on Fiat to Crypto conversion and also restrictions on Crypto currencies transfers out of the USA. <This will purely be a paper exercise, because we know people will bypass most of these restrictions.>  :P

Bitcoin is definitely unstoppable, all the government can do against it is at most slow it down. Although it does seem there are at least some sensible people in the government, as seen in the video. But no matter, what bills they will choose to pass to regulate cryptocurrency, its the people in the end who make the laws, through their mass action.

BTC has always been the main stream in every crypto trade, Libra is still a beginner and requires a long process to get the attention of investors and crypto users.  and I predict that in the future BTC and Libra will get great attention compared to other altcoins.  Crypto regulation will favor the market authorities of BTC and Libra.

Believe me, the more reason they regret the Libra and embrace Bitcoin is it decentralization which is more transparent than what Facebook coin called Libra gat to offer. They will only steal users information and sell out for their selfish interest like what happened with their social media. They will all speak good of Bitcoin because they have realize the true power of Bitcoin to the global economy and they will definitely embrace it.

Sometimes those who are critical mind about something like Bitcoin will be the first one who will support it at the end of the day when they are convinced. They will turn their ways 180 degrees and started to be a fan. I think congress is like that, they are not believers at the start but when they've realized that they cannot do something about Bitcoin and they knew that Blockchain will really help the country then they have this statement. That is a good thing and I am still hoping that everyone who doesn't really know it will open their minds and heart on accepting Bitcoin.

The quote is true, well almost.

BTC can be killed or at most screwed up badly if one person controls over 50% of computing power.

From government point of view, they can ban it and come up with hard punishment but it will only push the crypto underground but it will still be there.

It would require that person to acquire so much hardware that it literally would take years to perform this attack, and then still, existing farms have enough extra capacity to increase their hashrate to a point where the attacker would need +60 or even +70% of the hashrate. It would be an utter waste of time and money.

Just like how they banned drugs? That definitely worked. It made the prices of drugs sky rocket and the industry be worth like $400 billion annually.

Not really, if that "person" or organization have enough money and influence it won't take much to perform it.

No.As far as I can tell, farms can expand their capacity to compete with attacker and not let him get 51% but they can't make him need 60-70% of the hashrate to perform it.

If the attack succeed, it won't be a waste of money.


You can't compare drugs to BTC.If they ban it, price will 100% collapse not sky rocket.

Must be a sensible statement since proven already. It is good that bitcoin is not owned by anyone or any institution but just freely roaming around and anyone who would want to kill or destroy it will find himself hitting the air.  ;D

I don't know what to think about it
BTC is probably unstoppable, but governments can difficult the life of investors and people who want to use BTC apllying laws against
In this situation BTC will continue to exist, but who are the ones brave enough to fight against governments with risk of jail?

It's possible if the attacker is -- or has close connections to -- a top ASIC manufacturer, and colludes with large existing miners. But this all gets back to the problem of incentives. Even if an attacker has the means, it would still cost billions of dollars to mount this attack. For what gains? Once it's known that a 51% attack is occurring, users simply need to stop transacting. The attackers will just keep bleeding money until they give up.

Can you give link for this news, sorry for asking the link beacuse I want to read it clearly. But anyway according tp your thread bitcoin is unstoppable and nobody can stop it. I agree on that, the congresman statement is can bring it to another hype story and it's also call an attention for new investor to invest in bitcoin so,posaible bitcoin goes into the moon this year.

Well,it's true that it's a big challenge for a person or a small group of people but what about Governments and whole Countries.. Money isn't a problem to these entities, and as of the incentive to do so is simple -get rid of BTC.We can't deny that if governments want,they definetely can cause trouble to BTC

Congressman McHenry made the comment that "there's no capacity to kill Bitcoin" on CNBC. See here (https://www.reddit.com/r/Bitcoin/comments/cedkch/rep_patrick_mchenry_theres_no_capacity_to_kill/eu1xn7f/).

Congressman McCarthy also praised Bitcoin while criticizing Libra (https://cointelegraph.com/news/us-rep-kevin-mccarthy-praises-bitcoin-while-criticizing-libra) in a CNBC interview.

The hearing was about Libra. I don't recall much about Bitcoin but you can watch it here (https://www.coindesk.com/watch-todays-facebook-libra-hearing-at-the-house-financial-services-committee).

Wow great happy news..bitcoin unstoppable and unkillable cryptocurrency..Donald trump speaks hampers a little bit but bitcoin never bind his assumption.

The government has been trying their best just to ruin bitcoins reputation and tried to destroy it but despite the criticisms and controversies bitcoin is here to stay, in fact, bitcoin is going stronger each and everyday so the government has no other choice but to accept the fact that they can't destroy and control bitcoin.