Cryptocurrency (Bitcoin) Can't Be Stopped

[panganib999]

This is the reason why I oppose very old, close-minded legislators being given the chance to have a say in the chambers where they make laws. These people are so short-sighted and if not for Tom they would've had their way with the say of whether bitcoin should be banned or not. They clearly couldn't keep up with the needs of today and are stuck with the ways of the past, a change in the status quo of the government must be made to have these people be retired.

[kryptqnick]

I'm a bit confused with the op, as it looks in parts as if the op is interpreting the words of Toomey as supportive of banning Bitcoin because of FTX. But the senator actually has a great reasonable position, and in the article there are good examples, like that mortgages weren't banned after 2008. The other guy also agrees that cryptos shouldn't be banned on the grounds that FTX failed. I agree that banning Bitcoin for what isn't its fault doesn't make sense. And yes, it's just going to lead to the USA missing out on a market filled with profit and tax opportunities.

[serjent05]

It is expected that the anti-Bitcoin group will use this FTX incident to put blame on Bitcoin.  Luckily we had some politician that understand the whole scenario.  How can one person blame Bitcoin on the misappropriation deed by FTX management?  Did they put the blame on a gun when someone shoots anyone and killed the victim?  Did they put a stop on the creation of guns? or banned the carrying of it?  Of course not because the suspect and the gun maker are two different entities.

[GreatArkansas]

It is expected that the anti-Bitcoin group will use this FTX incident to put blame on Bitcoin. 
(....)

Expected already. This is already being said before when FTX started to become fishy. Like there will be more losses or it's not a good win for other businesses like centralized exchanges if FTX will go down because it will damage the whole reputation of cryptocurrency and Bitcoin the bigger.
These regulators indeed will use the FTX incident even if we all know it's nothing to do with Bitcoin.

Overall, at the long term, Bitcoin will always be Bitcoin. They can't stop it.

[Fundamentals Of]

These powerful people haven't learned their lessons. They still equate Bitcoin with cryptocurrency. They still equate Bitcoin with centralized platforms. And many of them still want to implement a ban. They still want to stop Bitcoin. They have tried that already and they failed. A member even admitted Bitcoin can't be stopped. So either they would learn from it and stop that plan or they would waste effort trying to.

If only they focus on the real problem, all these hearings would indeed prove to be productive. But if they are bent on stopping something like Bitcoin then, just like previous hearings, this will prove to be futile.

[Yatsan]

It is expected that the anti-Bitcoin group will use this FTX incident to put blame on Bitcoin. 
(....)

Expected already. This is already being said before when FTX started to become fishy. Like there will be more losses or it's not a good win for other businesses like centralized exchanges if FTX will go down because it will damage the whole reputation of cryptocurrency and Bitcoin the bigger.
These regulators indeed will use the FTX incident even if we all know it's nothing to do with Bitcoin.

Overall, at the long term, Bitcoin will always be Bitcoin. They can't stop it.

.They're not anti-Bitcoin, but investors who are afraid to engage with their crypto activities. They are simply worried but I doubt they are against this industry. There's a huge difference. Also with the ftx issues, that has nothing to do with cryptocurrencies alone but rather to the exchanger or project itself. The team mismanaged their funds which yield to its failure.
The only people who are trying to stop crypto emergence are some governments who are into taxation. They cannot imply the same system unlike with fiat due to nature of decentralization in this technology. Bitcoin has its flaws and advantages. It is just up to the investors how would they manage their assets.Bitcoin is unstoppable? It could be, especially if all countries would agree to do so. But that's another part of the story.

[Wapfika]

Bitcoin the king of cryptocurrency cannot be stopped or paused

You are right on this. Bitcoin is not controlled by centralized entity which means there’s no way for the US government to stop Bitcoin existence. The only way for government to stop currency in there country is to ban it to all its citizens that means people using it is illegal. This will control the use of crypto publicly that discourage normal on investing. Government will target there citizen since there’s no point on attacking cryptocurrency directly to close it down.

[GeorgeJohn]

The House of Representatives or the US alone is not powerful enough and can never stop cryptocurrency, let alone a decentralized cryptocurrency like bitcoin.

Let us cryptocurrency is centralized currency, it should be the situation any country will have the audacity of making a law that can affect cryptocurrency and especially bitcoin technology, so since the law is not something that can affect decentralized system of currency, it's very obvious that no country can destabilizing the existing of cryptocurrency. But we all know that government is bigger than everything according law, but one country can not stand to destabilize the existence of cryptocurrency.

[Mate2237]

The only way for government to stop currency in there country is to ban it to all its citizens that means people using it is illegal. This will control the use of crypto publicly that discourage normal on investing. Government will target there citizen since there’s no point on attacking cryptocurrency directly to close it down.

Cryptocurrency can not be ban in any country. Ban means to stop using cryptocurrency in the country which is not possible. Example, I am a bitcoiner and you are bitcoiner and we are in the same country and the government ban (stop) cryptocurrency, you have the Fiat currency and I have BTC. I will send the BTC to the person and he or she will give me the Fiat currency and that is p2p. And that is how it will work in the whole country so for government to ban it is hard. The only thing I know that the government can do is to stop the exchange platforms in the country. And secret exchange platforms will pop up.

[justdimin]

The only way for government to stop currency in there country is to ban it to all its citizens that means people using it is illegal. This will control the use of crypto publicly that discourage normal on investing. Government will target there citizen since there’s no point on attacking cryptocurrency directly to close it down.

Cryptocurrency can not be ban in any country. Ban means to stop using cryptocurrency in the country which is not possible. Example, I am a bitcoiner and you are bitcoiner and we are in the same country and the government ban (stop) cryptocurrency, you have the Fiat currency and I have BTC. I will send the BTC to the person and he or she will give me the Fiat currency and that is p2p. And that is how it will work in the whole country so for government to ban it is hard. The only thing I know that the government can do is to stop the exchange platforms in the country. And secret exchange platforms will pop up.

Ban means not being allowed to, it doesn't mean you can't do it. For example, it's also against the law to kill someone, but we do have people murdering each other don't we?

Or for something simpler it is not allowed to cross the street as a human walking when it's green light for cars, you may see no cars coming at that point and decide to go, but that is still not allowed because it's called jaywalking and against the law, but we all do it right? So that would be the same thing, bitcoin could be banned, not stopped because we do not always care about what the law is, but we would have to accept the fact that it is possibility that bitcoin could be banned even if not stopped.