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Bitcoin => Bitcoin Discussion => Topic started by: omone1 on December 10, 2020, 01:53:52 PM



Title: WHO CAN SHUTDOWN BITCOIN?
Post by: omone1 on December 10, 2020, 01:53:52 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: DooMAD on December 10, 2020, 02:12:14 PM
Governments have the same issue with Bitcoin as they have with torrenting and other peer to peer filesharing.  They can declare it illegal, but that doesn't stop people doing it.  It's incredibly difficult for authorities to physically prevent the use of software.

As for bitcoin.org, nothing at protocol level relies on that domain name.  Bitcoin can function without it.  But it has been a longstanding focal point for the community.  It serves as a primary gateway for new users to discover Bitcoin.

Hope that helps.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Tytanowy Janusz on December 10, 2020, 02:12:42 PM
600 posts on BITCOINtalk forum and 0 basic knowledge. How did you achieved that?

1-There is no way to shout down BTC by any government. If so than which country? There is no global government. All government can do is to ban it in their country but... it will not stop people from doing it.
2-bitcoin is not dependent on bitcoin.org domain.

Bitcoin is decentralized thing ... as long as 1 person wants to mine it as long bitcoin exist.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: AB de Royse777 on December 10, 2020, 02:13:11 PM
The Simple answer is no. The government or anyone else can not shutdown Bitcoin. They can make the use of bitcoin harder.

Bitcoin lives by nodes. Until the last node is off or destroyed completely, Bitcoin is alive. Imagine, you and I have two nodes (one each) and all other nodes were destroyed by a catastrophic incident. Bitcoin is not still dead because you and me still can exchange our coins.

There are 10858 NODES aliv (https://bitnodes.io/)e currently. This means to shut-off Bitcoin, anyone will need to shut down these 10858  nodes. Even if they were able to shut down all these nodes, who will guarantee that there are no saved copy to individuals?

So, get 99.999% sure that it's not possible to shut down Bitcoin.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: ranochigo on December 10, 2020, 02:15:59 PM
My question is: can bitcoin be shutdown by world government?
There's no world government. You can attempt to make Bitcoin harder to use, think Great FireWall of China. But there are always ways to circumvent it, plenty of them.

And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network?
No. It's purely P2P. The node discovery is generally done through the pre-set DNS seeds within the nodes. The nodes will populate the list of IP addresses that is known to be the functional Bitcoin nodes. Through that, the full node can continue to populate it's peers list through addr messages and stuff.

Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks
You don't technically need it. It's just useful to have a domain that contains everything a newbie needs to get started.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: bitmover on December 10, 2020, 02:18:04 PM
Bitcoin only need a couple of full nodes to stay alive.

Bitcoin already have enough hashrate to resist a continental scale attack.

Bitcoin, as far as we know, cannot be shutdown with the current technologies.

This is why it is important to keep it decentralized, with no central point of failure. There isn't a single guy who can be put in jail that and shut down the ecosystem.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: mardaed on December 10, 2020, 02:18:24 PM
600 posts on BITCOINtalk forum and 0 basic knowledge. How did you achived that?

1-There is no way to shout down BTC
2-bitcoin is not dependent on bitcoin.org domain

Bitcoin is decentralized thing ... as long as 1 person wants to mine it as long bitcoin exist.

You made me laugh haha. Well you are right there's no way for the government to shut down the Bitcoin not unless all the miners will be shutdown then the Bitcoin will shut down. Also I think the Bitcoin.org is just the official website and there's nothing to do with Bitcoin/Blockchain.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Lucius on December 10, 2020, 02:25:12 PM
Bitcoin cannot be literally shut down if some government gets an idea for something like that because the world is divided into interest groups of countries that can never agree on their opinions at the global level, so there will always be those who will mine and keep the network alive. When you say world government, you probably know that such a thing does not exist - because the world is divided into interest groups of countries that can never agree on their opinions at the global level.

The domain you mention is just one website, and it has nothing to do with how Bitcoin works, because if that were the case then it would be very easy to shut down the whole thing. The topic of whether Bitcoin can be shut down is very common among beginners, and here I have chosen something that may be worth reading.

So, can government “close down” bitcoin? And even if they can, should they?

While government could certainly hamper ease of use and discourage use, it is impossible for any government “shut down” crypto. Officials from the US government have even admitted it. On the November 1, 2016, Forbes’ Unchained podcast #14 US federal prosecutor Kathryn Haun stated that “you can’t shut bitcoin down.”

Haun noted, “I don’t think the reason the government didn’t shut down bitcoin (previously) was because the blockchain is useful to the government. I think the reason is that the government realized they can’t shut down bitcoin. There’s simply no way. With these technologies, once the genie is out of the bottle you can’t put it back in.”


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: omone1 on December 10, 2020, 02:26:33 PM
Quote
600 posts on BITCOINtalk forum and 0 basic knowledge. How did you achieved that?


Alright, I am currently defending a claim I made that bitcoin can't be shutdown. Just needed comments to defend my technical discuss in a community of crypto investors that is all. I understand and know it can't be shutdown.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Zackgeno96 on December 10, 2020, 02:44:01 PM
I think the one who can shut down the Bitcoin is the Bitcoin miner itself nor the government or anyone in the government. As you can see that the government can't fully shut down the use of cryptocurrency on their country and just made a law that it's prohibited to use it on their country.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Fesatmas on December 10, 2020, 02:50:56 PM

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks


allow me to correct the related question you made. because it is necessary to pay attention to how to make good and correct questions, so that what is called multiple questions does not occur. because the double question is so irrelevant. therefore it is better if you divide the question into points. makes it easier for someone to absorb the gist of what you are questioning.
For example: from your question I identified three points in one question, namely:
1. About bitcoin is closed.
2. about the bitcoin domain.
and 3. about the relationship between the bitcoin.org domain and bitcoin viability.

Correct if I'm wrong.
thanks :)


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Tytanowy Janusz on December 10, 2020, 03:00:47 PM
Alright, I am currently defending a claim I made that bitcoin can't be shutdown. Just needed comments that is all. I understand and know it can't be shutdown.

Sorry for being harsh than. It looked like basic question not part of research. Grab some links. There is a lot of this googling "can bitcoin be shutdown by world government?".

https://medium.com/ensourceable/the-battle-for-bitcoin-can-government-shut-down-cryptocurrency-d1b233471c32
https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/
https://www.quora.com/Is-it-possible-for-Bitcoin-to-completely-shut-down
https://www.cato.org/blog/can-government-destroy-bitcoin
https://www.youtube.com/watch?v=VJtVt5QuIAE&ab_channel=TraderUniversity

Good luck with defending your claim.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: GeorgeJohn on December 10, 2020, 03:07:47 PM
Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto which is the founder of bitcoin since 2009 and it's obvious that government which many people feel or taugt that, they have the ability or the capacity to shutdown bitcoin are not authorized to discusse about bitcoin rather to shut it down, the reason while bitcoin is decentralized currency is because government don't have any impact concerning it's control or over its management, so in that aspect btc can't be shutdown it's really obvious.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: AB de Royse777 on December 10, 2020, 03:15:57 PM
Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto which is the founder of bitcoin since 2009
How LOL?

Quote
the reason while bitcoin is decentralized currency
I doubt that you understand decentralization or how satoshi can shut it down :-D

Note: Satoshi, government or anyone else can not shut down bitcoin. It's in no single person or organization's hand. It's us, all of us who keep Bitcoin alive.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Charles-Tim on December 10, 2020, 03:18:02 PM
Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto which is the founder of bitcoin since 2009
You are right, the governments can not shut down bitcoin, why would they? It is a decentralized currency. About Satoshi Nakamoto, he too can never be able to shut down bitcoin, although, he created bitcoin but it is makes it to be decentralized and not controllable by any central body, which means even Satoshi Nakamoto himself can not countrol bitcoin.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: avikz on December 10, 2020, 03:30:09 PM
My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

There are few ways through which bitcoin can be closed down. Let me explain them for you,

1. If one single entity or organization buys all bitcoins from the market. There will be no supply so demand will not be fulfilled. So bitcoin will die.
2. If the UN start rulling the world in Kim Jong Un's style and confiscates every single mining equipments from the miners and starts shooting people for using bitcon, then there is a possibility that bitcoin will die.

Do you think these above mentioned scenarios will ever happen on earth? I believe no! So even if it is possible to technically shut down bitcoin, it won't happen in reality!


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: GeorgeJohn on December 10, 2020, 03:33:39 PM
Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto which is the founder of bitcoin since 2009
How LOL?

Quote
the reason while bitcoin is decentralized currency
I doubt that you understand decentralization or how satoshi can shut it down :-D

Note: Satoshi, government or anyone else can not shut down bitcoin. It's in no single person or organization's hand. It's us, all of us who keep Bitcoin alive.
Yeah, I admit to your point that is a collective efforts to keep bitcoin moving but while I said that it's only satoshi that has the power to shut btc down is because is the founder of btc and provided that he has all necessary documents concerning btc, I hope he can bring it down if he wishes, shall their is no much argument about it, I really agree with you.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: The Cryptovator on December 10, 2020, 03:49:22 PM
The website bitcoin dot org is for learning and information purposes only. There is no other role on that site. So even that site is shut down by any legal authority, it will not affect bitcoin. No, it's no possible to shut down the use of bitcoin because it's using and backed by the community. The government would able to prevent 100% to use bitcoin. As we know currently much government isn't allowing their residents to use Bitcoin, but are they succeed in their goal? I don't think so. So the situation will be the same, then peoples will use illegally.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: mk4 on December 10, 2020, 04:05:07 PM
Yeah, I admit to your point that is a collective efforts to keep bitcoin moving but while I said that it's only satoshi that has the power to shut btc down is because is the founder of btc and provided that he has all necessary documents concerning btc, I hope he can bring it down if he wishes, shall their is no much argument about it, I really agree with you.

Broski if it's the case that Bitcoin can just be shut down by Satoshi or by literally anyone just because of some documents, then Bitcoin is crap. It's actually the fact that it can't be shut down that's why there are a lot of Bitcoin enthusiasts. Even the government itself couldn't shut it down.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Leviathan.007 on December 10, 2020, 04:08:45 PM
I don't know how it's possible for someone with more than 600 posts asking such questions. None can shutdown bitcoin it's not like a computer with on/off button. Even if people stop mining and buying bitcoin, the project won't be destroyed or get shutdown. The only way to fight against bitcoin for the governments is to make bitcoin banned on their countries but this can't hurt bitcoin at all. No government can shutdown bitcoin. Also, about the bitcoin.org, bitcoin is not dependent to this website.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: BrewMaster on December 10, 2020, 04:20:59 PM
anyone who can shut down the internet can try to shut down bitcoin too but will still have a hard time shutting bitcoin down because bitcoin can still use different ways of connecting computers to each other and create the peer to peer network it needs to operate!

you see unlike banking system, the government itself, Visa, PayPal,... that all depend on a centralized database and have a centralized authority bitcoin has none. bitcoin relies on millions of users spread around the globe each shaping one part of this network. so in order to shut down bitcoin one must first shut down all these individuals and prevent them from connecting to each other.
this is impossible.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: ichi on December 10, 2020, 04:24:48 PM
I don't have the foggiest idea of how it's feasible for somebody with in excess of 600 presents to pose such inquiries. None can closure bitcoin dislike a PC with an on/off catch. Regardless of whether individuals quit mining and purchasing bitcoin, the task won't be decimated or get closed down. The best way to battle against bitcoin for the legislatures is to make bitcoin restricted in their nations yet this can't hurt bitcoin by any means. No administration can close down bitcoin. Additionally, about bitcoin.org, bitcoin isn't subject to this site.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: RapTarX on December 10, 2020, 04:26:02 PM
No & that's why Bitcoin is still here. Otherwise, govt would shut it down long ago as it's going to be threatened towards the corrupted govt.

Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto
If Satoshi Nakamoto could shut down bitcoin, we wouldn't call it decentralized. No one can neither shut down nor alter anything recorded in the bitcoin blockchain.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: worle1bm on December 10, 2020, 05:18:20 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
Case1
Being decentralised currency it have no effect or fear of centralized monopolies ruling the world.The governments have control over their respective jurisdiction and they can ban the use of the these cryptocurrencies in their nation or could come forward jointly in the long run to ban its usage but it will not shutdown  Bitcoin until the global communication is working which means internet is working as all the nodes will be still in operation and every transaction will be added to the blockchain. So it's practically impossible to shutdown internet and same is the case with Bitcoin and moreover to protect the interest of investors government will regulate its usage and make it taxable income under its income taxation act

Case2
It is the case of 51% attack which means all the majority participants of the bitcoin network join hands and come as single unit with lot of investment to overthrow the bitcoin network and make changes in the blockchain ledger which is quite impossible as we have not seen this because it will result in price decline resulting in profit risking.Moreover there are thousand of nodes and every transaction is recorded there and you cannot remove them so we can say btc will always be in working .


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Kupid002 on December 10, 2020, 05:33:27 PM
They can only regulate it and make it illegal in their country  if they want . but totally shutdown no. he is not possible because every country does not have the same law and there are also countries that do not agree for other countries laws.and another reason is that people have their own minds to understand even if it makes it illegal as long as they know that they are not doing anything wrong they will continue to use bitcoin for transaction . The only problem is if there are many countries make it illegal then it can also affect the Bitcoin price and that's the way they can reduce the users but it will never stop .


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: mezzaluna on December 10, 2020, 05:46:12 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.

Shutting down the domain is possible but completely shutting down Bitcoin sounds impossible. There are already many things that Bitcoin can do even without this forum but the forum is also one thing that helps people promote and learn about Bitcoin. People who supports Bitcoin will find ways on how to support it even when faced with lies that will really damage Bitcoin's reputation but as far as we can see, nothing can shutdown Bitcoin.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: DooMAD on December 10, 2020, 06:23:49 PM
anyone who can shut down the internet can try to shut down bitcoin too but will still have a hard time shutting bitcoin down because bitcoin can still use different ways of connecting computers to each other and create the peer to peer network it needs to operate!

Yes.  Even if there was a way to shut down the entire internet, we have nodes in space (https://blockstream.com/satellite/) now.  Contrary to popular belief, a record of the blockchain can technically survive without the internet, albeit in a much reduced capacity.  I don't know if the satellites could be reconfigured to mine if required, but I'm sure someone clever could find a way.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: wxa7115 on December 10, 2020, 06:25:40 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
Unless the Internet as a whole gets shutdown then I do not see how bitcoin can be shutdown at all, and obviously the more digital our lives becomes the less viable that strategy becomes as almost all industries now depend on the Internet to run their operations.

A more advanced possibility is that the governments find a way to filter bitcoin traffic and they are able to only block this traffic leaving the rest of the Internet in place, however assuming they can do something like that I am sure the developers and everyone else will find a way against such blockade and then things will go back to the way they were before such attack.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: thesmallgod on December 10, 2020, 06:32:35 PM
The worst they can do is to institute the same principle they used for liberty reserve in 2013. They will ban so many .com domain associated with crypto trading and prevent access by anyone. It might create a lot of panic and affect the price of bitcoin but I believe it will be temporary. A lot of crypto domain will migrate and it is only a matter of time before we will have the crypto fully back again. Bitcoin does not operate in centralized system and it is not like every crypto is on bitcoin.org. There are many offline and online wallet So it is going to be very difficult to shutdown bitcoin that is why some of them are thinking of regulating it but it is also a big challenge for them to properly regulate such thing without any side (government and individuals) complaining


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: BlackHatCoiner on December 10, 2020, 06:51:13 PM
People are getting into forum's signature campaigns without knowing the basics about bitcoin and post statements like this:

Actually in a normal sense bitcoin can only shutdown by Satoshi Nakamoto which is the founder of bitcoin since 2009

It's really sad seeing people posting just to earn their weekly payment. As for bitcoin, let's firstly define what it is. Is it a company? No. Is it a person named Satoshi that gives some tokens named "bitcoins"? No. Is it a stock in the market? Hell no! Bitcoin is a program in which computers connect with each other. Once a new computer that just installed it, runs it, the program will send information to some IP addresses, that are already written in the code. The nodes will then share this information from one to the other and they'll write down your ip. Then, they will start sharing with you their blocks. The blocks that other nodes previously sent to them.

Keep in mind that each node is autonomous. The network doesn't "tell you what to do". The entire bitcoin network is made up of nodes making their own decisions, following the same consensus rules, which makes it purely decentralized.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: CLS63 on December 10, 2020, 07:09:23 PM
Bitcoin can't be shut down by anyone or any government. Bitcoin is not like fiat. As we know, Bitcoin has a decentralized system. You can't control it. Even the inventor of Bitcoin can't destroy when he/she wants to. The only way to destroy it is cutting down the internet (which sounds ridiculous and not possible as it is vital for people).


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Traderbtcc on December 10, 2020, 07:10:52 PM
No one can shutdown bitcoin  ;D even the government don't have the power to shut  it down, bitcoin is a decentralized digital currency, so how can the government shutdown something they have no power over? it's not possible, the only thing the government can do is to ban the use of bitcoin within the country, which they have been doing over a couple of years now, and it still not working because their citizens still find a way to use bitcoin in secret,so no body absolutely no one can shutdown bitcoin.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Searing on December 10, 2020, 07:16:26 PM
I expect the former Trump Adminstration Treasury Department under Steven Mnuchin to take a stab at such. It won't work but they have

been 'clarifying' regulations for Bitcoin/Cryptocurrency they said since Febuary 2020 this year. I doubt they are gonna NOT put this out before

the Biden Adminstration comes into office. Indeed, the leaving Trump Adminstration is taking great glee in tossing about 'dubious' regulation

changes accross the board to trip up the next adminstration, IMHO.

https://www.nytimes.com/2020/02/12/us/politics/treasury-cryptocurrency.html (https://www.nytimes.com/2020/02/12/us/politics/treasury-cryptocurrency.html)

The 'swiss bank account' crack in the link below sounds indeed like these regulations are going to require you tell a USA exchange your self-hosted

wallets address and/or amounts inside (though it would be easy enough to look) as the CEO of coinbase fears.

https://www.coindesk.com/coinbase-ceo-trump-administration-may-rush-out-burdensome-crypto-wallet-rules (https://www.coindesk.com/coinbase-ceo-trump-administration-may-rush-out-burdensome-crypto-wallet-rules)

Indeed....it is a concern enough that the below letter was sent by lawmakers to get clarity on these 'regulations' in that they have been done

in secret with no public or congressional input.

https://www.coindesk.com/us-lawmakers-tell-mnuchin-to-back-off-from-potential-crypto-wallet-regs (https://www.coindesk.com/us-lawmakers-tell-mnuchin-to-back-off-from-potential-crypto-wallet-regs)

of course if these regulations are true and affect the moving of BTC/Crypto in and out of USA exchanges as an addition to KYC.that simply means

users will simply do KYC on exchanges overseas and/or the exchanges in the USA (as when this happened with China ban on exchanges way back) will

simply pick up and move out of the USA.

Again first comes ATH then comes FOMO and now the powers that be are tossing out FUD to slow down BTC/Crypto adoption. Rinse/Wash/Repeat!

I expect the above regulations coming out sometime before the end of 2020 with the probable start of 1/1/2021 in addition to the 2.6 billion usd

of mt.gox Bitcoin going back to the mt.gox account owners on 12/15/2020 means that the combo will likely slam the Bitcoin price itself down to about

$13K or lower IMHO. If I have the treasury regulations figured correct on this they will wait till after the mt.gox dump of BTC to get the effect they want

of slapping down BTC/Crypto. After that it is up to the Biden Adminstration and to see if big money in BTC/Crypto and exchanges and such can push

back and get these regulations reversed or big money and tradionaly finance will push back more to keep them in place. This is all futile from my

view, in that, BTC/Crypto will bounce back. But it goes to show at every ATH and FOMO afterward there will likely be more of these knee jerk reactions

by countries. This whole decentralized money thing has them scared...and at every ATH and FOMO they are caught off guard and lash back. So it shall

be in the future, again, IMHO. So be aware. My view is 13k Bitcoin if not lower. It all depends on if the mt.gox accounts from back in the day, old HODL'ers

that they may still be, even now, will HODL or will folk simply sell. Bitcoin: Always Drama! (tm BTC) :)

Brad


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: fauzan123 on December 10, 2020, 07:17:34 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.

Shutting down the domain is possible but completely shutting down Bitcoin sounds impossible. There are already many things that Bitcoin can do even without this forum but the forum is also one thing that helps people promote and learn about Bitcoin. People who supports Bitcoin will find ways on how to support it even when faced with lies that will really damage Bitcoin's reputation but as far as we can see, nothing can shutdown Bitcoin.


It will not be able to stop bitcoin even though the domain is shutdown, because many assets are already held by investors so that the development of bitcoin is also based on the number of transactions that have occurred.

Moreover, until now bitcoin continues to grow and many countries have started to adopt bitcoin as an alternative payment transaction besides using conventional transactions, of course this is a development that will continue to occur in the future.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Wysi on December 10, 2020, 08:58:10 PM
How can someone have ability to shut down something which they don't have control over and there is no one who could shut down bitcoin, government officials or regulator will try to cause as much as damage as possible to bitcoin by imposing unnecessary ban on Bitcoin and intimidating people against bitcoin. Even if government bans bitcoin still we can access it through VPN and other alternative.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: oktana on December 10, 2020, 09:14:43 PM
Bitcoin cannot be shut down by anyone. No one has such ability. The maximum that can be done is if the a large whale decided to sell (dump). This can affect the price. Nothing worse than that can be done by anyone.

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument.
I do get your point; some of the members around here can be quite aggressive. Truth is, you can't help it and everyone is different. When creating a topic, if you're sure you've done you wrong, simply go on with the goal (to educate people or get educated).  :)


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: omone1 on December 10, 2020, 09:46:46 PM
Quote

Sorry for being harsh than. It looked like basic question not part of research. Grab some links. There is a lot of this googling "can

Good luck with defending your claim.


Thanks for these materials
I have defeated him, just he won't want to admit it in a public because he has some disciples in the group.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: adzino on December 10, 2020, 09:59:29 PM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
No the governments around the world wouldn't be able to shutdown the government. I mean they would be able to do so if each and every government stops their people from connecting to the internet. Or maybe impose ban in such a way that if anyone gets caught using crypto currencies they would be given lifetime in prison. I mean insane stuffs lol. People would be mad and up rise against their government.
What I am trying to say that it is almost impossible. If it was actually possible, the government would have taken down torrenting of pirated stuffs long before.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: carlfebz2 on December 10, 2020, 10:59:44 PM
bitcoin.org domain has nothing to do with Bitcoin when it comes to shutdown issues.If its just possible to do that hen the government would have long time ago on doing such thing.

For sure they are still thriving at the moment on how to shutdown it but for sure they would really fail to do so.This is why government now or even the media do try to show off some negative

image about Bitcoin for people to stop on dealing with it or do have that positive sentiment. Decentralized things are always hated to those institutions or services which we know that it is
hardly or purely centralized.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: aysha9853 on December 10, 2020, 11:05:19 PM
Bitcoin is closed in my opinion it is impossible, many large companies are included in it and there are many communities, bitcoin consists of peer to peer and is decentralized


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: MCobian on December 10, 2020, 11:07:39 PM
I really believe 100% Bitcoin cannot be shutdown by the government, because Bitcoin is decentralized so no one can control Bitcoin.
Then as long as someone is using it, Bitcoin will always exist. So the government can only ban Bitcoin, but it is impossible to stop
people from using and owning Bitcoin. For this reason, it makes Bitcoin more and more be loved by many people, and until now
the demand for Bitcoin continues to increase.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Astvile on December 10, 2020, 11:30:07 PM
No. There is no one that controls bitcoin and its blockchain so no one can forcibly shut down bitcoin because no one has any control over it. No government can shut it down basically because it is decentralized. Bitcoin and the blockchain will continue to function as long as there will be people who will use bitcoin, miners who will help the blockchain and transaction moves.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Wisbrown on December 11, 2020, 01:00:55 AM
No body own Bitcoin, is a decentralized digital currency that is only control by Bitcoin user. As such no body can shutdown Bitcoin.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: coinsolidation.org on December 11, 2020, 01:07:37 AM
First before thinking about whether a government or someone can shut down Bitcoin, I think the most important thing is to know if the blockchain network that supports Bitcoin can be damaged, shut down, or stop working and the probabilities would be from 1 to 100,000.

Because a simple answer, it is currently estimated that 100,000 nodes that support Bitcoin are distributed around the world, to be able to support or pull this number of distributed servers is an almost impossible task.

Maybe some government like today is banning the use of Bitcoin but not worldwide.

Node reference.

https://thenextweb.com/hardfork/2019/05/06/bitcoin-100000-nodes-vulnerable-cryptocurrency/

Regards,



Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: LogitechMouse on December 11, 2020, 02:19:36 AM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
When I read your question and read the term "World Government", I thought for the world government in one piece anime for a sec :D. (OP fan here :)).

Anyway, the government can ban it in their country or make it illegal but to stop it or to shutdown I don't think that they can do it since it is not a centralized entity that can be shutdown by just a random person or authorities.

There is a way to shutdown Bitcoin though, shutdown the internet globally or stop people to use Bitcoin at all. Things that are impossible to happen so there is no way to shut it down.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Lorence.xD on December 11, 2020, 03:27:59 AM
Governments have the same issue with Bitcoin as they have with torrenting and other peer to peer filesharing.  They can declare it illegal, but that doesn't stop people doing it.  It's incredibly difficult for authorities to physically prevent the use of software.
I do agree with this one, in my country, although it is illegal to download copyrighted medias and sharing them, no one really gets caught or punished, the most severe that I have seen is when someone pirates the media and sells it. It also factors that there are more offenders than enforcers so they find it futile to fight this battle. There are only two things that I can think of that will stop bitcoin altogether and that is a war of apocalyptic proportions which will be unlikely, or a total electrical grid shutdown around the world which again is another unlikely scenario.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: blckhawk on December 11, 2020, 04:51:41 AM
Okay guys, this question may have been asked before, was trying to locate a past thread but couldn't seems to get my search on this forum.

My question is: can bitcoin be shutdown by world government? And does bitcoin need bitcoin.org domain when calling its protocol or trying to get access to its network? Or what is the relationship between bitcoin.org and the survival of I bitcoin? Thanks

Hello , don't start abuses, I am currently defending that bitcoin can't be shutdown, while a discussant said it can be shutdown. I know  it' can't be. Just dropped this post here to backup my claim and argument. I know it requires shutting down all power and internet to be able to cause a damage. Which in any which is not possible.
First of all, there's no world government exist. Now getting back to the topic, I don't think Bitcoin can be shut down by anyone or by any organizations but they can ban this one like what other countries are doing. However, even though they imposed a prohibition regard this one everyone seems to find a way to access it leaving a conclusion that Bitcoin cannot be shut down nor take control by anyone. Remember bitcoin is decentralized so if there's a chance they could able to shut it down then they already probably did but rather they go with it.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Walterhank on December 11, 2020, 06:23:20 AM
Nobody, no individual, and no central power or government can control, manipulate, ban, hack or kill a worldwide distributed open-source peer-to-peer cryptographically secured decentralised system. Bitcoins will continue to increase in value, more than gold and silver, there will only be 21 million bitcoins ever, they are cryptographically and mathematically secured, it is decentralized, so can't be banned, co-opted or confiscated/stolen by any central group or government, you hold your own private keys.

The future economy is digital and decentralized.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: carlisle1 on December 11, 2020, 06:24:46 AM
The only Power government over Bitcoin is banning and never that they can Shut this down,Bitcoin owns by no one and even Satoshi has no capacity shutting this down so basic answer is NO. and you have been here for sometimes surely you have crossed in topic related to this and even the Quantum computer thing Goes with this issue yet nothing proves right.


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I have said that many times that. Bitcoin is decentralized and government or anyone can not stop the  bitcoin  or it's users.So the answer is None can shutdown the bitcoin.
Chill OP just curious of the answer.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: amishmanish on December 11, 2020, 06:44:08 AM
My question is: can bitcoin be shutdown by world government?
Whoever is asking this question, Ask him what is "World government". The governments around the world cannot come to the same page on existential issues like Climate change. Yet, do you think they will come to same page on who gets to determine the future of money and control over it.

When it comes to bitcoin, nobody wants to lose the initiative that Bitcoin has sparked. Not the EU, nor USA, nor China or Russia. And those are the big ones. Then you have all those smaller developing countries who don't really hate the little sparks of innovation and revenue stream. On the far end are countries that downright hate the current world order and will do anything to circumvent it. If use of bitcoin allows them this, they WILL do it.

So its pretty difficult that everyone in the world will come to an agreement to dissolve their bitcoin wealth and sources of revenue/ innovation. Even if they somehow come to an agreement, its technically not feasible to simply "outlaw" software. When that happens, you can officially assume that the world has given up on democratic thought.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: arayde on December 11, 2020, 06:45:26 AM
Nobody can really shutdown bitcoin but almost any big goverment can do 51% attack pretty easy because they have a lot of money. And people dont think about it


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: CODE200 on December 11, 2020, 08:04:38 AM
Nobody can really shutdown bitcoin but almost any big goverment can do 51% attack pretty easy because they have a lot of money. And people dont think about it
No it's not because of huge amount of money.
Governments cannot shut down this technology but they can make an action to prohibit or limit its usage to a particular country or region but it won't affect the existence of this technology. Bitcoin is already a popular digital currency especially nowadays. It is getting wider acceptance as years are passing by and more companies and networks are starting to adopt it. So even if there is still a possible conflict for this technology, I'd say there's really no need to discuss it at this moment because such thing will only come to existence if there will be something that would trigger governments to prohibit its usage other than being decentralized and not being able to put tax on every transaction which is being aided by regulation by now.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: JohnBitCo on December 11, 2020, 08:23:24 AM
The Simple answer is no. The government or anyone else can not shutdown Bitcoin. They can make the use of bitcoin harder.

Bitcoin lives by nodes. Until the last node is off or destroyed completely, Bitcoin is alive. Imagine, you and I have two nodes (one each) and all other nodes were destroyed by a catastrophic incident. Bitcoin is not still dead because you and me still can exchange our coins.

There are 10858 NODES aliv (https://bitnodes.io/)e currently. This means to shut-off Bitcoin, anyone will need to shut down these 10858  nodes. Even if they were able to shut down all these nodes, who will guarantee that there are no saved copy to individuals?

So, get 99.999% sure that it's not possible to shut down Bitcoin.

The only way to shutdown the nodes is to shutdown the whole world internet. Can this be done ?  Theoretically Yes, but practically No.

As long a there is internet exists, its impossible to shutdown the bitcoins. That's the power of decentralization.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: oliviarobert on December 11, 2020, 09:26:55 AM
In my view, this is only possible when every person on earth stops using or investing in the bitcoin, which is almost impossible, because there are some hardcore bitcoin believers as there are believers that bitcoin is ponzi scam. So I think we won't see bitcoin stopping in our lifetime or perhaps some other currency like Ethereum would replace it.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Ayiranorea on December 11, 2020, 10:12:13 AM
Complete shutdown of bitcoin is the day when the usage of bitcoin turns ZERO. Does anyone here think, such a situation will exist in the world. With the growth happening with bitcoin there is more and more widespread of the market. This assures there is no shutdown of the bitcoin. The same has come into discussion several times, and another thing is the mining. Even if one leaves mining, another one gets into mining in no time.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: tall3r on December 11, 2020, 10:50:04 AM
As far as I know, no, because this is the advantage of cryptocurrency, that miners are located in different parts of the world ...


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Shasha80 on December 11, 2020, 11:01:01 AM
Bitcoin is not liked by the government and banks, if indeed Bitcoin could be shutdown, Bitcoin would have been dead a long time ago.
But no one has been able to kill Bitcoin, therefore until now Bitcoin still exists. And no matter how strong the government will not be
able to control or shut down Bitcoin, this is what makes Bitcoin starting to be liked by many people. But that doesn't mean Bitcoin will
live forever, if in the future more sophisticated technology appears and better coins than Bitcoin will emerge. Then it's possible that
Bitcoin is no longer using it, and that's when Bitcoin will dies.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: ObscurePen on December 11, 2020, 11:09:06 AM
As most people have said, the answer is no. Bitcoin is a decentralised system which means banks and governments have no control over your actual funds. This means that they can never freeze your account or take your funds. There is a small legislative problem whereby local government may prevent businesses from accepting bitcoin, but the essence of bitcoin is digital, so it is impossible to stop bitcoin on a global basis.

By saying bitcoin is digital I am primarily referring to the blockchain. Now unlike banks which keep a secret ledger of your transactions, the bictoin ledger or blockchain is decentralised ie it is transparent - anyone can access it. Now unlike banks this public blockchain is stored by a complex system of digital nodes. This means if you want to shut down bitcoin, you would have to somehow kill all the nodes there are in the world, which is highly unlikely.

I hope this explains it. If you need more info there is this cool video you might want to take a look at: https://www.youtube.com/watch?v=41JCpzvnn_0&feature=emb_logo


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: AniviaBtc on December 11, 2020, 11:15:02 AM
Governments have the same issue with Bitcoin as they have with torrenting and other peer to peer filesharing.  They can declare it illegal, but that doesn't stop people doing it.  It's incredibly difficult for authorities to physically prevent the use of software.

Bitcoin can only be fully shutdown if all of the governments around the world are prohibiting it to circulate in the market.

If there's only one country who have courage to stay with bitcoin and let its community use it and manipulate it in the market then probably it will not have a hard time to still prevail.

Right now, bitcoin is impossible to become shutdown by countries who already proven its benefits and advantages in their economy and market. Also if people are already into it and captivated about the good thing that cryptocurrencies brought to them then probably governments will also have a hard time to shutdown its community.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: imstillthebest on December 11, 2020, 11:22:14 AM
the question must be what not who because when you say who that will point to person and i guess no person can shutdown btc but when you say what that will point to things .

the only thing that can shutdown btc is if there are natural calamity because that can damage the power sources and if we dont have power we cant go online and do btc works .

 we are lucky that natural calamities are not that powerful for us to experience a long and wide power interuption and we can still do btc works every single day .


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: witcher_sense on December 11, 2020, 11:45:58 AM
It seems some people are yet to comprehend why bitcoin still exists despite continuous attacks on it from hackers, governments, and others. Bitcoin network consists of thousands of full nodes, each of which keeps a full history of transactions and doesn't trust other full nodes, it verifies everything instead. Nodes are independent, sovereign, and, more importantly, distributed across the globe. No government, no matter how enormous its power and influence is, can control the whole world and people living in different parts of the world. Bitcoin will exist as long as there are people who want it to exist, who support and value it.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Millionairegee on December 11, 2020, 11:50:40 AM
Bitcoin cant be shut down due its decentralized nature which enables Peer to Peer transactions (P2P) . If government or any authority could shut bitcoin completely , i feel by now they would have done that because bitcoin stands out as a  rival currrency to all government issued currencies all over the world. Another means of shutting it down is by shutting the global internet service which is quite impossible . Bitcoin transaction requires internet service and it is impossible to shut the world internet service down in a bid to prevent the global use of bitcoin. Bitcoin has come to stay forever and no government of the world can shut it .


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Inkdatar on December 11, 2020, 12:16:38 PM
I think I have read the same question like this if who can shutdown Bitcoin. Many users doubting the capability of Bitcoin until now and some also presume that it's value will be going to zero. And what others been saying not any form of organization nor government can shut down bitcoin. We all know government can ban it which other country at presents already ban to use btc. Bitcoin is decentralized and although other people doubting btc but until now it still stand strong these days and still gaining popularity.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: heztida3 on December 11, 2020, 12:34:20 PM
I don't have the foggiest thought of how it's possible for someone with more than 600 presents to posture such requests. None can conclusion bitcoin loathe a PC with an on/off catch. Whether or not people quit mining and buying bitcoin, the undertaking won't be devastated or get shut down. The most ideal approach to fight against bitcoin for the lawmaking bodies is to make bitcoin limited in their countries yet this can't hurt bitcoin using any and all means. No organization can shut down bitcoin. Furthermore, about bitcoin.org, bitcoin isn't dependent upon this site.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: BitcoinFX on December 11, 2020, 12:41:16 PM
*Satire*

The World Health Organization cannot shutdown Bitcoin.

Only I cann ... So, BTCe nice to me or I will press the big red button that satoshi gave to me!

Mwahahaha! Mwahahaha! Mwahahaha! ...

https://i.kym-cdn.com/photos/images/original/001/053/037/1fe.jpg

N.B. This post is entirely satirical ... or is it ... !?

- https://en.wikipedia.org/wiki/Internet_kill_switch

What Would It Take to Shut Down the Entire Internet?
- https://gizmodo.com/what-would-it-take-to-shut-down-the-entire-internet-1837984019

...

Eclipse Attacks on Bitcoin’s Peer-to-Peer Network (USENIX 2015)
- https://youtu.be/J-lF0zxGpu0

Bitcoin Q&A: Geopolitics and State-Sponsored Attacks
- https://youtu.be/htxPRTJLK-k

[ANN] Bitcoin (BTC) on Tor addnodes Project
- https://bitcointalk.org/index.php?topic=5177001.0


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Xinarae* on December 11, 2020, 01:33:29 PM
No one can stop bitcoin The government does not accept Bitcoin because cannot control it. That's why there are so many problems with Bitcoin usage. Even if the government does not control if it is used illegally no one will be able to stop Bitcoin completely. The use of Bitcoin in peer-to-peer transactions has increased a lot and every problem of it can be prevented by the investor himself. The media and no banking institution will control and it will be possible to deal with the situation.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Axelseseclevz on December 11, 2020, 01:44:59 PM
Yeah, I admit to your point that is a collective efforts to keep bitcoin moving but while I said that it's only satoshi that has the power to shut btc down is because is the founder of btc and provided that he has all necessary documents concerning btc, I hope he can bring it down if he wishes, shall their is no much argument about it, I really agree with you.

Broski if it's the case that Bitcoin can just be shut down by Satoshi or by literally anyone just because of some documents, then Bitcoin is crap. It's actually the fact that it can't be shut down that's why there are a lot of Bitcoin enthusiasts. Even the government itself couldn't shut it down.

The fact that no one can shut down the bitcoin are the reason behind why the adoption of bitcoin keep on growing. Being decentralized digital currency of bitcoin is the basic advantages of it that's why there's a lot of bitcoin enthusiasts all over the world.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: BITDV on December 11, 2020, 01:49:17 PM
Bitcoin cannot shutdown, some people who don't like bitcoin only can spread hate speech and goverment only can banning bitcoin but bitcoin user will find another way to use bitcoin


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: ttcsalam on December 11, 2020, 02:33:22 PM
I don't think it will be possible to shut it down.Because it is not associated with any soccer action.This is what I think is a means of investment.And the medium of this investment is through digital system.As he thinks it is impossible to prevent.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: Sparrow96 on December 11, 2020, 03:21:53 PM
This is the power of decentralization. No one can shut down Bitcoin. Because Bitcoin is decentralized. No one controls it. So, who will shut down. Government can't take action against everyone who uses it. Except taking action they can't shut down.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: jostorres on December 14, 2020, 05:24:29 PM
I am not hundred percent sure about this, but I am also among those that believes that Bitcoin cannot be shut down by the government, and that’s because it’s is decentralized and doesn’t have central unit that is used in controlling it. And when I mean having a central control unit, I mean a particular central unit that controls it.

For example, we can say that if you want to shut down Facebook you will go to the Facebook headquarters and shut it down, but Bitcoin is not like that. The only thing the government can do is to frustrate you by declaring it illegal, and that means there wouldn’t be a way for you to sell your cryptocurrency, there wouldn’t be exchanges, though there might P2P , but trust me it’s going to be very frustrating.


Title: Re: WHO CAN SHUTDOWN BITCOIN?
Post by: InwardContour on December 14, 2020, 06:19:08 PM
There is no way the country will be able to close bitcoin. Even though some governments prohibit bitcoin circulation in their country, there are still people who hold and use bitcoin. Every country has a very enthusiastic crypto community so that the country is unable to stop the circulation of bitcoin.

It's obvious that no one can shutdown BTC, or stop people from owning BTC. No matter the laws placed to prohibit it, people must still own and make use of it. Imagine some countries are prohibited from using certain exchanges, yet they access it via VPN. This is just an instance to show how much interest people have built over the years for crypto, especially the king (BTC). Most governments however are trying to protect their citizens from the cons of holding BTC, without necessarily looking at the pros. Some governments think BTC is a threat to their own local currency, reason why they try so hard to prohibit it.