Bitcoin Forum

After reading this article, I'm worried that the government will succeed in destroying Bitcoin. What do you think?

(Please read the article and address the author's points.)

http://www.forbes.com/sites/harrybinswanger/2013/06/04/dont-be-silly-the-entitlement-state-wont-allow-bitcoin/

Very good point, but is it really a win-win scenario? What if people want a dictatorship? People have voted themselves into dictatorship many times. Why not in America? America is not what it used to be. It's starting to look more and more like Europe.

Not to mention it would be the first time in history the governments on the world decided to agree on something.

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

They could also make it illegal for businesses to accept bitcoin.

There's no such thing as opt-out tyranny.


Exactly.

If they want to - yes - very easily - label it treasonous to possess or engage in the transfer of non-governmental currencies and back it with the obvious fact that bitcoin is capable of supporting terrorism - done

hmm it in my administration has not accepted legally bitcoin  :-\

Sure, anyone can say label Bitcoin treasonous. Bitcoin users can always call out any government official that labels Bitcoin treasonous. Say that they are treasonous. I really don't think any government official with half a brain and an ounce of sanity would label Bitcoin treasonous.

Who will win the hearts and minds of the people?

Just keep educating people. On that note, this community should seriously start considering the use of press releases:

http://en.wikipedia.org/wiki/Press_release

For profit and non-profit organizations use them all the time, why can't individuals? If you have a great story to tell, there will be writers there ready to share it.

That will stop any business from accepting bitcoin. But in my view government will only impose more regulations on exchanges to stop scams and black money laundering.

For governments like North Korea where Internet is banned, yes, bitcoin can be stopped.
The governent's attitude towards innovations like bitcoin can to some extent reflect the openness of a nation.

The ultimate goal of diehard bitcoin visionaries is for bitcoin to completely replace fiat. In this scenario there would be no conversion to fiat. Think about what could theoretically happen if governments banned the exchange between bitcoin and fiat but allowed businesses and individuals to accept bitcoin for sale of goods and services rendered.

Governments will not agree on this step, they are not able to agree on another important steps.
I found that Forbes is publishing informations with negative and shading points for Bitcoin. May be it`s only my view, but I red several topics like this there.
Some countries can take further steps to stop exchanges for fiat, but as they are not able to stop Internet then Bitcoin can`t be stopped.

Yeah..Regulation on exchanges might be the only way government would like to work things out. My govt. doesnt care as of now..about BTC. I can own 10000BTC n not pay any taxes..no one really cares.!

Wow, I bow to the stupidity of 'mericans.
By that I mean the "article" it self, and some comments here.
I thought that might be an interesting thread, but, boy, was I wrong.

Still bitcoin can't be destroyed, people will use it underground and nothing can stop it which actually will attract more and more people to the point where we are now.

Its not possible to . I don't think they can stop the network.
They can only make it illegal, but even after that it won't stop  , but will continue, maybe at lower price. But almost impossible, to cease it from existing.

No. Call me Sr.

No ... because gov is DEBT after all.

inefficiently at the max ...

If governments can't even stop bittorrent then they have no chance of stopping bitcoin. I don't even understand why they would even be able to stop it under what law? I'm sure the governments will actually like it as it's one more thing they can tax.

Very Old Article but good notable points........

I don't think any gov could stop it even if they wanted to, however they can do their best limit people using it by restricting people from buying things with it or making it illegal to do so. People would still find an underground use for it, though.

They cant stop it unless they stop every single computer connected to the internet.

Are you saying we are going to shut down the internet?

No, but blockchain technology may one day transcend the need for government, along with state violence. Perhaps some sort of sovereign internet hive mind (http://descrier.co.uk/science/can-bitcoin-protocol-morph-virtual-collective-consciousness) will emerge. Or we can all burn in nuclear fire because we trusted (any) nation states with the power of (and competence in ethical duty to keep secure) WMDs for one day longer than we should have.

Worse still, given exponential pace of technology, it is conceivable in the near future that 3 people in a garage will be able to build a homemade weapon of mass destruction. Certainly if true general AI emerges within the next few decades. Bill Gates recently said we need a world government. I'd like to believe that if we had one, their first act would be to dismantle all nuclear arms wordwide, and ban them forever.

related:
Virtual currencies can challenge the sovereignty of states (http://www.pfhub.com/ireland-central-bank-official-warns-virtual-currencies-can-challenge-sovereignty-of-states-909)
Bitcoin: Economy of the Eternal Now (http://historiesofthingstocome.blogspot.com/2014/07/bitcoin-economy-of-eternal-now.html)

Fair points. Whoever controls the money, controls people. If people can reach the degree of consensus to be able to control their money, they will more likely accept their responsibilities and fully regain their liberal rights. Until humans are capable of such a consensus, the governments will do whatever possible to substitute these rights with an illusion of equality.

No matter how sad the prognosis, the article concludes with a suggestion that the debt economy will crash in the future.

Taking freedom is just one attack vector. attacks will come soon

Bitcoin whales have the infrastructure to start their own internets.
Also with Maid we'll not need ISP in the future.

The end goal of all human action is to create utopia on earth ...

 ;Dgovernment  can. not stop bitcoin because bitcoin is decentralized
but i think government  can control bitcoin, s  price

I doubt that can happen. In order to dump bitcoins they will have to purchase it.  ANd the price will keep going up if they keep purchasing.

However, if they decide to dump confiscated bitcoins, then that might be one way for them to get the price back down.

What if they buy shit tons of btc and sell it cheap to crash? or start mining a lot and do a 51% attack?
other than that i see no risks.

Well, governments can actually make it very hard for people to use Bitcoin, obtain it, or whatever. Sure, they most likely can't shut down the whole network due to its decentralized nature, but they can effectively dry out the usability of it in their own jursidiction. I think if countries really see Bitcoin as a threat, rather than an opportunity, they'd already have taken appropriate measures - which some countries have already done.

I don't think the government could stop Bitcoin directly. The could however, kill the internet or regulate it in such a way to prevent Bitcoin from working.

like blocking sites about bitcoin?

and if this will work? whereas many ways to access blocked sites cmiiw

MURICA.. FUCK YEA!

Its impossible to stop the network, they would have to go to the homes of every single owner of bitcoin (not even traceable to that) and then all the bitcoin businesses to stop it, and then hope that the users will not use it again, but if one person opens up the program and still mines, it is still alive, so think about it like that.

its possible but bitcoin will never stop :D
it will still rise and fall

Governments cannot stop Bitcoin. The users, developers and businesses supporting Bitcoin will do that. Bitcoin's concepts, ideals, design and success are being annexed by so many different groups it's only a matter of time before it becomes a shell of its former self. Apathy in the form of progress will destroy Bitcoin. Governments need only wait for the inevitable outcome.

What the fuck are you talking about?

At every turn, government continually legitimizes Bitcoin.

First, that article is really old - 2013?

Second, which government? The US?

Third, no government can stop Bitcoin, however they can stop people from using it to buy things in their country or stopping conversions from banks, etc. Government doesn't have control of it (just like they don't have control over the internet).

Bitcoin is safe as long as there is electricity, a network, and people that want to use it.

They can block it on some countries yes , on the whole world Of course not . They can simply not do anything about it and will never do
the problem is simply , all goverments can't agree on same thing at all , no matter what the decision is they just can't .

~ Madness

Governments are supposed to represent people. Bitcoin is how people roll these days. What humanity have learnt cannot be unlearnt. Blockchain DNA is proliferating!

https://www.youtube.com/watch?v=OPR3GlpQQJA

why the government did not agree on bitcoin? whether many negatives on bitcoin? including my country that has not agreed bitcoin

Possibly through regulation but not on purpose.

Even with that, they won't be abke to stop whats on the network. Its hard to even ban it.

As long as electricity and internet is there..they can not ban it.! they can try..but im sure it wont work. :P

The government will only hinder its growth. They can't stop it now.

There are already many other topics related to that... I already posted few topics about BTC may be used by terrorist in near future, etc See what happened with this currency in near future

Stop it? I doubt that, but they will certainly regulate it and tax the hell out of it so they can get their cut.

If I thinks.... then bitcoin will never stop lifetime :)

The question i would ask, can they stop bitcoin?

They cant do shit guys stop being paranoid about goverments killing bitcoin lol..