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Author Topic: Why hasn't any government stopped Bitcoin?  (Read 12304 times)
ishinn99
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November 01, 2017, 05:52:32 AM
 #181

Maybe because some government officials are also using bitcoin? We can never tell if all of them are against bitcon or doesnt even care on bitcoin.
I have a feeling that some of them are into bitcoins. And some of them have a lot of local issues to solve rather than stopping bitcoin.

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November 01, 2017, 07:42:14 AM
 #182

There are alot of countries where BTC transaction is illegal. Some of them are Bangladesh, Bolivia, Ecuador, Thailand. So we can't say that no govt. has stopped BTC till now.
Whereas, other countries have the status "NOT ILLEGAL". they are still looking for the wayout to regulate BTC and other Crypto-currencies.

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November 02, 2017, 01:22:24 AM
 #183

Governments of different countries can pass laws prohibiting or restricting the circulation of crypto currency in this country, but they can not stop the spread of it. To do this, you need to block the Internet. Recently the Chinese government tried to do this and, as we see, none of this has come to pass. Exchange on the exchange of crypto currency there again open and it continues to be freely exchanged.

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November 02, 2017, 01:57:22 AM
 #184

Government for Sure Cannot Stop Bitcoin for the reason that even their great and professional Tech Guy cannot trace all bitcoin transactions and doesn't even know who is the creator of bitcoin. Bitcoin in different country is good enough to support Jobless citizens, but they are always putting tax in different exchange sites. maybe if bitcoin is not volatile and if it's price is stable they can stop bitcoin. in my own opinion government can control bitcoin in their respective country but they cannot stop it.

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November 02, 2017, 07:23:57 PM
 #185

Government hasn't stop bitcoin because bitcoin is helping the people about the financial problem that government can't easily provide,in other words bitcoin is helping the government.

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November 02, 2017, 08:21:42 PM
 #186

- Hypothetically, governments can join BTC mining game using the most advanced ASIC miners in order to attack the system. 
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November 02, 2017, 10:12:15 PM
 #187

As stated in a documentary regarding bitcoin, if they can`t stop it they adopt it. And I think that this case is something similar. They tried to stop it but when they saw that it can`t be stopped and somehow will proceed because there is not a central, they decided to adopt it and earn as much as they can from it. In my opinion the interviews of huge banks and the other huge investors that say it`s a bubble may be for decreasing the price of it and earning by themselves.

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November 03, 2017, 12:06:07 AM
 #188

because other countries also use it. bitcoin isn’t controlled by one central authority. Every machine that mines bitcoin and processes transactions makes up a part of the network and the machines work together.
it different to conventional money, it is decentralized. No single institution controls the bitcoin network. This puts some people at ease because it means that a large bank can’t control their money.
that's why threatens other banks.
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November 03, 2017, 12:31:11 AM
 #189

At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
They simply can't stop it.  A law won't stop what can't be stopped.  Not sure what a 51% attack is though.
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November 04, 2017, 09:23:10 AM
 #190

As stated in a documentary regarding bitcoin, if they can`t stop it they adopt it. And I think that this case is something similar. They tried to stop it but when they saw that it can`t be stopped and somehow will proceed because there is not a central, they decided to adopt it and earn as much as they can from it. In my opinion the interviews of huge banks and the other huge investors that say it`s a bubble may be for decreasing the price of it and earning by themselves.

If you can't beat them join them. Yea nice. But its not the way is seems. China has been friendly with bitcoin ever since. But then do a sudden U-turn because they think its gonna be uncontrollable in the next coming years. So they instantly banned ICO, closed exchanges for that fear and I don't think they are coming back to join. I think by now the Chinese government knows that they can't really stop it that's why mining is still allowed. People will really try everything just to get their hands on bitcoin, even going underground is a options for most of them. I hope governments should know by now that the sphere of influence has almost covered the entire globe and it can't really be stop by anyone.

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November 04, 2017, 03:00:58 PM
 #191

Still, no users report Bitcoin For anything, and The government doesn't know where its operate. and Who controls this, Still many countries have legality for using bitcoin
I thought that's why government Don't stop bitcoin

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November 04, 2017, 05:05:39 PM
 #192

didn't the federal reserve bank bought a huge amount of btc?

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November 04, 2017, 05:15:34 PM
 #193

At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.

at first time government try to fight bitcoin then start ban .

Trust is the reason that make bitcoin have power now Because trust make bitcoin have price and can fight against control of government .

Increase price make new people join to bitcoin and make high Demand

now government try to make some income from bitcoin and may be start accept it with some rules

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November 04, 2017, 07:38:01 PM
 #194

Well, it's probably impossible to forbid bitcoin in printsype, but it can be forbidden to trade it in the country. but this unreasonable move of the government needs to keep pace with the times, to match the society, although the majority of officials in the declarations indicate bitcoins

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November 05, 2017, 06:16:24 AM
 #195

I think the government can not stop bitcoin.
If the government wants to stop bitcoin then i think the government should stop the internet, and that's very unlikely, because everyone in the world needs the internet.
In my opinion, governments in the world must be able to adjust to the existence of bitcoin at this time.

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November 05, 2017, 08:17:08 AM
 #196

It wouldn't be easy for all governments or some governments from different countries to stop bitcoin or stoped the development of bitcoin itself. They may be able to forbid the community to use bitcoin, but that doesn't mean they have the right to stop bitcoin and can stop the development of bitcoin in the internet world. Bitcoin is freedom and still entitled to be used by anyone as long as there is an internet network used and given that bitcoin itself has a decentralized system.
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November 07, 2017, 01:35:30 AM
 #197

At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.

Governments have done enough to dissuade common people from using BItcoin extensively. Being charged with operating unlicensed money changing businesses is a possibility if you engage in cash-bitcoin conversion.


Surely. It makes crime in a sense

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November 08, 2017, 08:37:23 PM
 #198

It seems that states simply can not stop the spread of bitcoin in their country. An example of this is China, whose government tried to prohibit the circulation of bitcoin. however, none of this did not happen, as the population began to circumvent these prohibitions in various ways. Although, for example, countries such as Bangladesh, Vietnam and some others have banned the Crypto-currency. Let's see what will come of it.

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November 14, 2017, 08:56:48 AM
 #199

Because they know and they admit that blockchain could be put in a good use. It can help us financially and they are just worried about some things like regulating it and taxing it. And also they will not stop it because bitcoin will be the technology of the future.

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November 14, 2017, 02:59:02 PM
 #200

I don't think this implies on all the governments .
China's government has stopped and banned the use of bitcoin in China . Other governments might not be banning bitcoin because bitcoin is the star of the market .
The impact and the domination of bitcoin on market is not hidden from any one . Governments might be confused about its acceptance ( because of the links of dark web ) but they definitely cannot deny the immense positive growth of economy in their country by the help of bitcoin.

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