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Author Topic: Why hasn't any government stopped Bitcoin?  (Read 12074 times)
v0rtecxz
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March 07, 2018, 11:06:53 PM
 #301

For what government to stop the obvious bitcoin to help everybody's economic growth in his country, the government does not need to think selfish, now many countries are enacting policies that regulate the use of bitcoin to prohibit its use, but not all countries do the same, they only apply the policy use of bitcoin to limit unwanted actions so they can continue to monitor the use of bitcoin in everyone.
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spyerf
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March 08, 2018, 12:19:15 AM
 #302

It's good that at least bitcoin has a chance to become a coin that is recognized by all countries, it can happen because the government also realizes that bitcoin really helps the people's economy. This is a thought that is wise and unselfish.

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sudah_wisuda
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March 08, 2018, 02:43:13 AM
 #303

At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seems 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.
I think why the Government has not stopped Bitcoin because the Government is aware that Bitcoin is actually bringing a positive impact on its people. Yes as the economy of its users can be helped by working in Bitcoin. Surely this can reduce the poverty rate little by little.

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radjie
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March 08, 2018, 05:01:23 AM
 #304

most governments actually recognize that bitcoin is a sophisticated modern technology capable of overcoming all kinds of transactions, but because of the many crimes that use this modern technology so bitcoin can be misused by people who commit crime transactions using bitcoin. the government is worried that bitcoin is increasingly being misused by many people.

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March 08, 2018, 10:03:42 AM
 #305

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.
Bitcoin has no central authority

Minerfortyniner
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March 08, 2018, 11:28:51 AM
 #306

The same reason they cant stop DeepOnion or the TOR network. Because they are decentralized.
Bitcoin is a decentralized p2p open source crypto network.

https://deeponion.org/apply.php?ref=1920215
godwyn50
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March 08, 2018, 12:00:50 PM
 #307

I see that yet again, this question has been merged in with one that does not ask the same thing. The question I answered was “If a government body wanted to shut down Bitcoin - could they even do it?”

Governments probably cannot shut it down through "technical" means, i.e. hacking the system, thus crashing the value or preventing it from working. (Juergen Nieveler discusses this in his answer.) Thus, if I were a government that saw Bitcoin as a threat, I would try a three-pronged attack:

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March 08, 2018, 01:00:12 PM
 #308

I see that yet again, this question has been merged in with one that does not ask the same thing. The question I answered was “If a government body wanted to shut down Bitcoin - could they even do it?”

Governments probably cannot shut it down through "technical" means, i.e. hacking the system, thus crashing the value or preventing it from working. (Juergen Nieveler discusses this in his answer.) Thus, if I were a government that saw Bitcoin as a threat, I would try a three-pronged attack:
Of course, they are not going to manipulate bitcoin because it has own blockchain technology that they used in bitcoin and also it being decentralized nobody behind this cryptocurrency bitcoin. Some of the countries are embrace and recognized bitcoin but others are refusing bitcoin due to afraid of bitcoin may abuse their community by doing illegal activities.

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ubercab90
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April 06, 2018, 10:28:57 PM
 #309

They are trying to do it now. Hope that this is just a temporary phenomenon, cryptos aren't supposed to be blocked cause they're not illegal at all
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