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Author Topic: Maybe governments can stop bitcoin after all  (Read 11086 times)
dx_twisted
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January 20, 2018, 02:23:46 AM
 #641

Yes its a serious discussion but the fact remains that if governments are able to stop internet then its easy to stop bitcoin.
I dont think that goverments will stop bitcoin, because bitcoin is not doing anything wrong and i know that in next few years all goverments in this world is we will support or trust bitcoin because bitcoin is can totally give a good future for a particular country.

Not really, I do believe that with proper good governance, there's a way that one governments country can totally shutdown Bitcoin operation or cryptocurrencies in general. The only thing a government needs to do is to create an agency that will work in ceasing Bitcoin and Altcoin operation transactions. If they are dedicated to do this, it also needed funding which they will allocate in hiring excellent programmers, developers and even additional police enforcement to totally shutdown it. Look at what happened with China, they almost eliminate cryptocurrencies in their country. As long that a government is prepared to take some actions that is against with it, there is nothing impossible to do.
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Bitcoin2009
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January 20, 2018, 03:20:52 AM
 #642

Of course, the government has an unlimited right to ban bitcoin in its country, probably because they consider that bitcoin can not be controlled so that if it is massively used it will damage the government system.

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January 21, 2018, 08:52:15 PM
 #643

Well, governments and bank start to realize the danger that bitcoin represents for their power, and you can bet they'll try everything to ban it.
But actually, they only can create some difficulties, because the only way to stop bitcoin is to shut down the internet!

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January 21, 2018, 09:19:16 PM
 #644

I'm sure, goverment is some kind of casino, that never loses  Wink Governments will find a way to benefit from cryptocurrency, if they can't ban any
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January 21, 2018, 10:40:36 PM
 #645

I don't believe that will happen. Governments are trying to control everything, the internet first of all, but they can't stop the progress whether they like that or not.
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February 18, 2018, 03:49:38 PM
 #646

Even if the bad news is something irrelevant like china illegalizing ICO's or the SEC disapproving a BTC ETF proposal, traders will always sell. When predicting market behavior, traders always follow the lowest common denominator in determining what will happen. I think the banning is a good thing, might have decreased a  bit of bitcoin's price, but I believe it was something that the crypto world needs to sit and see and provide better ICO's in the countries that it isn't banned.  I am afraid it will have an impact on other countries. although the Chinese government reasoned to close the exchange of bitcoin and would regulate the bitcoin and open the exchange of bitcoin again. but the impact of the closure, the bitcoin value directly down, but now has started to rise again. most miners are being chased by the police and government, but they are still using it. I think that bitcoin can only be made illegal in countries that live in very strict regimes, but even if it gets illegal on many others, people will still use it anyway.
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February 18, 2018, 05:26:44 PM
 #647

Well, governments and bank start to realize the danger that bitcoin represents for their power, and you can bet they'll try everything to ban it.
But actually, they only can create some difficulties, because the only way to stop bitcoin is to shut down the internet!
Wrong! You're mistaken and don't understand the operational principle of Bitcoin network. You have to know Bitcoin can run because it has miners, has user. If Bitcoin doesn't have miner to confirm all transaction hash of the network. This network will be die without disappear. Grin It is still waiting until it has miner to confirm transaction hash. And the government can make the Bitcoin miner stop to mining anytime Roll Eyes.

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February 18, 2018, 06:47:46 PM
 #648

Governments can impact on Bitcoin price by spreading the news or imposing regulations to exchanges and banks but they cannot stop Bitcoin. Because the blockchain network mechanism exists forever and it not having the centre that against any damage of outsides.
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February 18, 2018, 08:31:52 PM
 #649

They can't make people stop using bitcoin because people will start riots everywhere and goernment will get problems. Nobody want this happen.
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February 18, 2018, 10:07:37 PM
 #650

Government today are not fully against bitcoin, there are some countries are still open operated bitcoin transaction,  and i hope government will not stop bitcoin because it really helps people needs in terms of financial, why government plan to stop bitcoin? Maybe it is all about tax? If government stop bitcoin operation, im pretty much sure that it is only a selfish decision without looking for the people situation.
We have to not abuse the use of bitcoin. Some country banned bitcoin because of using it in illegal transactions and not because of the tax itself. When it comes to tax, they have not to worry because there is transaction fee that has to pay and the private company will take responsibility to pay the tax. They have to be aware of that, that we are not earning it freely and do not contribute on the economic growth, otherwise we are surely helping each other for this growth.

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February 18, 2018, 10:24:25 PM
 #651

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.

Bitcoin is decentralized, yes, but doesnt mean it cannot be subject to regulation. If the governments see bitcoin as a threat to them, then they can make moves to control it. If countries see bitcoin as national risks especially in financial security of theirs, then they can ban or regulate bitcoin. It is possible right now as we see several countries that banned bitcoin. Governments is not into bitcoin because they are not benefitting from it.

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February 18, 2018, 10:35:44 PM
 #652

I am also very curious to see how governments will regulate cryptos and what impact it has on price, volatility and the market in general. Interesting times ahead.
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February 18, 2018, 11:44:56 PM
 #653

True. Only governments can actually make Bitcoin useless. After the banning stage they've done we all noticed how the community reacts. And that will happen again in the future. They can never own or control Bitcoin but they can manipulate it by simply doing that kind of banning again.

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February 19, 2018, 01:01:55 AM
 #654

Yes its a serious discussion but the fact remains that if governments are able to stop internet then its easy to stop bitcoin.
I dont think that goverments will stop bitcoin, because bitcoin is not doing anything wrong and i know that in next few years all goverments in this world is we will support or trust bitcoin because bitcoin is can totally give a good future for a particular country.
Should the government focus on more important things such as poverty or unemployment, if bitcoin is legalized then I am sure that the welfare of people will increase and the government should do the best for the progress and prosperity of its citizens.

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February 19, 2018, 02:23:53 AM
 #655

I think that will not happen during the rejection reaction from various parties, so the agreement will never happen, bitcoin is the future / technology we can not hold it or stop it, we can only follow the flow, the real evidence has been seen from various countries trying to ban it but in the end it is still enforced even if it is not legalized.

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February 19, 2018, 02:46:47 AM
 #656

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.

For me also yes governments can really stop bitcoins after all because the government can banned bitcpins in their country like china and the other countries. The people in their country are not allowed to access any cryptocurrency so that means in that place no one can use it so the bitcpins can be stopped. And imagine if the united nations agreed to banned the bitcoins in all of the country we do not how how much the power they have but i know that they can stop it if they wanted to.

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February 19, 2018, 02:59:54 AM
 #657

Government cannot stop bitcoin, the only thing that they can do is prohibit and give punishment to who ever using bitcoin. But to find people who do things in bitcoin are not easy, to track them out they will need to spent a lot of their time. I think its not effective to do it, so the thing that they can do is making rules and bad news about bitcoin.
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February 27, 2018, 11:05:52 PM
 #658

Yes its a serious discussion but the fact remains that if governments are able to stop internet then its easy to stop bitcoin.
I dont think that goverments will stop bitcoin, because bitcoin is not doing anything wrong and i know that in next few years all goverments in this world is we will support or trust bitcoin because bitcoin is can totally give a good future for a particular country.
Should the government focus on more important things such as poverty or unemployment, if bitcoin is legalized then I am sure that the welfare of people will increase and the government should do the best for the progress and prosperity of its citizens.
You do not need to wait your government see Bitcoin as legal in your country. Look at Japan, Korea, etc. are the countries accepted Bitcoin is legal. Do the economy of these countries have developed? And do the unemployment rate have decrease or still high like the past? Grin
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February 28, 2018, 01:32:18 AM
 #659

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 that these reasons could have made the government close bitcoins. the risk of fluctuating bitcoin values makes governments begin to doubt on bitcoin and always urge the public to always be careful.

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February 28, 2018, 01:49:45 AM
 #660

Yes its a serious discussion but the fact remains that if governments are able to stop internet then its easy to stop bitcoin.
I dont think that goverments will stop bitcoin, because bitcoin is not doing anything wrong and i know that in next few years all goverments in this world is we will support or trust bitcoin because bitcoin is can totally give a good future for a particular country.
The reason will not ban bitcoin and will accept it if people do not use it for illegal transactions and criminality that cause for the government to take action. As long as we take bitcoin as investment and earning profit for our own good and help the government for the economic growth and development, they will not think to stop bitcoin. It is the people who make bitcoin exist and we the people will be the reason for it to be destroy.

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