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Author Topic: Maybe governments can stop bitcoin after all  (Read 11086 times)
joromz1226
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September 25, 2017, 03:16:20 PM
 #301

Actually government can do that, as we observed now more countries are making this legal and the time will come that government will take controlled with bitcoin. Once it is abuse by the authorities, a big possibilities that it could affect bitcoin investors and crypto changers relationships with the government and war begin, possibilities that will it make crypto world down.
It is sounds good to hear only that bitcoin was being legalized in some other country. But for me it is not good due to once bitcoin become legal in the country from Decentralization of bitcoin it can possibly change into centralization and if that happened it will be a bad news for us to hear that.

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Daimon88
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September 26, 2017, 01:20:46 PM
 #302

The government wants to control bitcoin and soon if several more countries ban it, the price may drop significantly. Bitcoin has grown very well and is a huge competition for the banking system.
I agree , the government  more likely  wants to control bitcoin rather than to kill it or to let it gone in the future. Be asue they also know that bitcoin has a good future ahead. It just depends on how people would support bitcoin in the future for it to attain once again the development  and the innovation it could achieve.
Government can’t just stop a thing just because of its own will. If this will happen investor of every region will be on road and will create a miserable situation. So thinking like that doesn’t work invest and enjoy the blessing of bitcoin so that believe in bitcoin will come into you.

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September 26, 2017, 01:35:27 PM
 #303

No, that's not gonna be happen. We all know that government was categorize in centralization system while Bitcoin was categorize in decentralization were obviously the government can't able to control bitcoin because of this wonderful and great features of bitcoin.
I don't agree with you. It's the goverment we're talking about here that means that they have the power and the permession to do it if they have to. They can hide the sites that you can talk about or buy bitcoin from, they can confiscate mining machines. But, the only reason that holds them from doing this is that bitcoin is no danger on the economy and used by few people around  the world.

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September 26, 2017, 01:35:46 PM
 #304

For now the easiest way to control bitcoin is through exchanges. They totally deanonymizes users. So, for now it is the weakest point of bitcoin.
As soon we will pass scaling problems anonymizing solutions will be implemented.
In Japan and Korea bitcoin is officially recognized, other countries planning to do their own cryptocurrencies. So, even some countries will ban bitcoin it will not have huge influence. Price does not matter at all, bitcoin became bitcoin only because of it unique properties. If you are considering bitcoins success through it price you are wrong. Market is very thin and it is relatively easy to dump or pump. What matters - decentralized properties, independence, security, immutability.
Forget about price, about governments and other bullshit, follow it development and properties that is what tell you what to do with it.


I do agree. Governments can only control exchanges but it cannot stop bitcoin from being a bitcoin after all. But based on a certain law, "every action has an opposite reaction" If that happens, when government starts to control local exchanges. I think it will also affects it's price which made bitcoin special and unique. So I disagree that price doesn't matter after all. I believe price always matter, even at all things.

But I think other countries won't follow what kind of idiotic things China did. But if that happens, we just have accept it. We can't do anything else, but to follow.
I agree with you that governments can’t stop bitcoin overall. Governments can just approach to exchanges not more than this. Bitcoin is a digital and decentralized cryptocurrency and no one in the world can stop bitcoin business that’s why people are independently participating in bitcoin business and like bitcoin business due to decentralized feature. I think bitcoin will keep continue his journey fluently.

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September 26, 2017, 06:21:57 PM
 #305

Yeah sure maybe they could if they would shutdown the whole internet,
Also I think if they are just going to ban it in their country people could find a way to be anonymous and use it again.
The price and the value of the bitcoin are so high now isn’t? So I think it is not yet possible to stop the bitcoin. It is now being accepted by a lot of new users and it is really making the bitcoin popular worldwide. The currency bitcoin is the best investment today and so the government knows so they will never gonna stop it in my country.
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September 26, 2017, 08:48:43 PM
 #306

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
There's a difference between stopping bitcoin and making it worth much less than it is now.  I don't think governments could actually stop bitcoin.  There's no way they can effectively police the internet and block the network.  However, they could still ban bitcoin and put the exchanges out of business, which, like you said, would cause investors who are in bitcoin to make money to dump everything.
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September 26, 2017, 10:40:27 PM
 #307

The government wants to control bitcoin and soon if several more countries ban it, the price may drop significantly. Bitcoin has grown very well and is a huge competition for the banking system.
I just want to remind you that each spade must surely preceded by a weak reverse it or strong, to do that the ban will surely decrease the value of the bitcoin but we never know what it will take place in the future because each ban peesente a communication and media company for the bitcoin.

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September 27, 2017, 09:05:39 AM
 #308

They can't stop btc what china did was ban the way people bought or sold btc they can ban mining or even disrupt the btc network in there country but no matter what there will still be countries which won't do this, doing all this might slow down the transaction speed and cause panic selling but btc will still continue.
It's strange only china has a problem while other countries it functioning normally maybe the government is secretly investing or there is something which they are hiding. Just think on a fine day they decide to ban exchanges.
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September 27, 2017, 09:12:55 AM
 #309

They can't stop btc what china did was ban the way people bought or sold btc they can ban mining or even disrupt the btc network in there country but no matter what there will still be countries which won't do this, doing all this might slow down the transaction speed and cause panic selling but btc will still continue.
It's strange only china has a problem while other countries it functioning normally maybe the government is secretly investing or there is something which they are hiding. Just think on a fine day they decide to ban exchanges.
How can we prevent mining? I don't believe it. You can prohibit the exchange and sale of goods for bitcoins. It will have no effect. We can always exchange bitcoins outside of the country your Bank account is not prohibited by the legislation of the currency.
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September 27, 2017, 09:59:25 AM
 #310

if I think we should anticipate it by making it just like bitcoin but adopting the system is not the whole. so, make a new currency or switch to another bianist Undecided Roll Eyes
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September 27, 2017, 10:13:46 AM
 #311

Of course they can. They are the government, it's not that they are pursuing personal interest but basically because of other reasons like protecting their own citizens. We may not agree with our governments but there is a reason most of the time why they do what they do. Specially if all the governments collectively do something about bitcoins, that will be a problem.

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September 27, 2017, 11:00:36 AM
 #312

hold your horses now. china is regulating BTC exchange not banning bitcoin though. I can see a lot of chinese exchanges are still up. the government of China is just going to go into some laws to regulate and not allowing millions of CNY get out of their country as its like laundering by using the CNY pairs.


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September 27, 2017, 11:31:49 PM
 #313

government can not do anything ,they have to take proper notes of different economy,first of all cryptocurrency is decentralised and government cant control over it.yup price dumps we have seen due to recent ban on ico but its only new holder who got impatient of selling it and nothing else,back in 20110-2011 ,bitcoin was consider as illegal still price soar to great height.

Let us just hope that the governments of the rest countries of the world do not tow the line that China has taken against Bitcoin. If they do, Bitcoin and the other cryptos will all be gone no matter what we rationalise. Yes, we believe Bitcoin is decentralized but that has not prevented China outlawing it and succeeding. I really don't want to see Bitcoin made illegal. If that happens, this forum will cease to function too.
I am very sure no one is going to support china in this regard because the popularity of the bitcoin is much higher than the power of the china. Big and the powerful countries are accepting bitcoin and they are investing in bitcoin. No government is going to stop bitcoin and they will never support the bitcoin enemies ever because bitcoin is good for the economy of their country.

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September 28, 2017, 01:23:12 AM
 #314

One country alone can not stop it but China will have huge impact on price of cryptos.

Close of exchanges next month + hard fork coming up = great opportunity to buy!

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September 28, 2017, 03:13:06 AM
 #315

No. They have tried it multiple times a long time ago. They tried to kill bitcoin and hundreds of news and reviews declared it's dead but you can see it still manage to survive. Government can't stop bitcoin now.

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September 28, 2017, 03:40:24 AM
 #316

Yup - governments can stop bitcoin - just outlaw exhanges and make it a crime punishable by death to own them and people will stay away  Grin

But then you have to ask yourselves which countries have cultures where they can easily ban Bitcoin and actually do it. It's easy to say that governments will ban it and use China as an example but China is not a free country - this is a country that's banned Facebook - sheessh, Facebook for crying out loud, Instagram, Youtube and so on.

Just ignore China and think of other countries - do you imagine Switzerland, France, Australia, Japan, Korea, Germany and so on actually blocking bitcoin.

I mean think about it - Japan has accepted it. Australian senators are pushing for bitcoin bec they're afraid to get left behind this technology, even Russia is warming up to Bitcoin.

Right now, just ignore anything related to China  - Bitcoin may still dip due to them but other nationalities will just scoop those cheap Bitcoin up.

Actually I'd rather they come out with more FUD again as I need to buy more cheap coins.
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September 28, 2017, 05:29:17 AM
 #317

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
Ofcourse it is not impossible for people to stop in bitcoin specially when the government really want to stop bitcoin and make it illegal, we can not do something about it. As of now, not all countries really accept bitcoin thats why almost all of the people there are not subscribing or using bitcoin because it has no exchanger at all. So we can see that if the government will forbid bitcoin and force us so stop it, we will be really forced to stop it.
Yes it will happen. We all are bound to our government laws and regulations. If bitcoins are going up like this, either government feel it useful and make it legal or might think it as a danger to economy. In second case, we will be forced to stop it and we would be else we will be rebels.

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September 28, 2017, 05:38:58 AM
 #318

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
Governments can't stop bitcoin yes they might control it but they will never stop it just because of the laws. We know that law should be a law but you can't follow it just because you are told so. They can't control their own jurisdiction so how can they control the internet or online community? It might happen that government discover and control the bitcoin but they can't stop it especially now when bitcoin's popularity is increasing even its value is fluctuating.

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September 28, 2017, 06:00:35 AM
 #319

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
It is possible and we must be ready for this, no matter what we do if all of the government agencies like SEC and the alliance of governments will ban Bitcoin then we have no choice but to move on. Bitcoin can still be used again but on the under the table trasactions. I don't know how people.
But in my opinion it is unlikely to happen because it is the most trusted desentralized network and the most stand alone banks. It would be obvious if the government ( banned something without proper explanation) that they are just afraid of losing control of money.

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September 28, 2017, 07:02:28 AM
 #320

Actually the government can do it anytime, but of course they have special analysis and consideration so the government let bitcoin. if one day there is a special regulation about bitcoin, of course, aimed at protecting the regular currency.
This is a very long debate but no one knows exactly what will happen. I think there is hardly any reason due to which any Government stop the usage of Bitcoin. In fact, I think the Government might be in tested in legalizing this Bitcoin and other Crypto Currencies by looking the interest of their people and by looking at the way Bitcoin is making its reputation.
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