Can bitcoin be frozen?

[Jet Cash]

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

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

[cryptoanalyzer]

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

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

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

Thank you. It really helps

[rampagelenard]

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

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

[btccashacc]

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

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

[sportis]

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

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

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

[strasboug]

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

[Amph]

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

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

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

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

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

[novemberwoah]

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

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

[oktana]

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

[dreamhouse]

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

[Mr.grin]

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

[Snorek]

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

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

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

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

[the rise]

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

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

[btcdiggingmaster]

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

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

[ImHash]

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

[Blitzboy]

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

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

[divyam_94]

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

[RussiaIsBest]

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

[Amph]

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

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

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

[LoyceV]

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

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