Maybe governments can stop bitcoin after all

[FlightyPouch]

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 don't know why people say this things like government will control bitcoin etc. You think bitcoin will be decentralized and stay decentralized all this years if the government know this will happen? And now that they know that, why aren't they having any movement about it? It is a huge threat to the banks but government don't really cared about it. They are happy collecting taxes so they are all good.

[Gaaara]

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's gonna be hard for the governments to make bitcoin illegal, because as of now in our country there is lots of people who is joining signature campaigns and bounties as their jobs, basically it contributes when it comes to economy. We can withdraw the amount of bitcoin into our standard currency so we somehow getting money from other country, it somehow helps the economy so if a third world country will ban bitcoin then they will miss their only hope of raising their economy with cryptocurrencies.

[buwaytress]

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.

If you look back as far as three years ago, you can find almost instant correlation of Bitcoin price and negative news. The Chinese government in December 2013 banned Bitcoin transactions when price was peaking at over $1,000. It almost immediately lost $200 and when the ban took effect, and Baidu stopped accepting Bitcoin, it went all the way down to $500. It took a while to recover, but take a look at the dips of this year alone (which is still only eight months old). Every "negative news" took its toll... from the ETF decision to the hard fork. But the following rebounds happened with equal speed, even surpassing previous highs.

I'm not saying this pattern is sustainable. I still think a long correction is way overdue. But Bitcoin has reached a point of maturity it didn't have three years ago and as a result is a lot more resilient. If anything, the ICO ban's outcome is somewhat muted, not the cataclysm that one would expect from such news.

[agentx44]

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.

I truly believe that the government can shutdown and stop bitcoin, i have heard that there are some countries that there are no bitcoin because it is banned and not allowed in their country. I hope that one day the government would realize that bitcoin shouldn't be banned because it has many uses and can help anyone who are in need of money for them to live.

[lonelygrimm]

no the problem is not with them, but the real trouble in here is people in crypto world. As we know bitcoin phenomenon make more joining in here like for trading, but there is so much of them really don't understand how system in here works, so if they hear about FUD news and the graph got in hand by the whales, it's easy to make this people panic.

So the problem is with the bitcoin user mind, not the government

[qwertyup23]

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.

I really don't see the government controlling bitcoin soon due to its nature being decentralized and if it does, it probably would have a negative impact in terms of its price on the market due to imposing regulations and taxes from it. Though one disadvantage coming from its nature is being hard to track-down, and this became an avenue for illegal transactions. Due to that reason, some countries ban the usage of bitcoin but in my opinion, the various opportunities it provide to people overshadow the disadvantages of it. It really depends on the country on which poison they are willing to choose.

[babsjoe]

Bitcoin is distrupting failed economy all around the world . All i know is the very nature of bitcoin should prevent it's assummed control

[webtricks]

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 is no doubt that 95% of Bitcoin users will abandon it the day it get banned. But Bitcoin and Blockchain technology aren't much threat to country's economy or laundering.
Whereas ICOs are unregulated form of crowdfunding where government has minimum control over cash inflows/outflows. So there is need that ICOs should regulated or banned, else people will be scammed more often.

[HAARP]

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.

In theory, they can, but there is no enough condition to do this. They have to proove something before act and take an action against bitcoin. Despite the rumors, bitcoin is not used for criminality and terrorism funding. Governments also know this and they just can't start this now.

[xaviervilla]

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.

I must say, you got a pretty good argument there pal.
But to be honest, i think what you are saying(alrhough can be a possibility) is something that is close to impossible to happen. Because when we look at how bitcoin stand now? I think lot of big personalities are holding big amounts of bitcoin. That is why it maybe hard for the banks and governments to stop it. Because if they force to, it will be bloody. That's one thing I can be sure of.

[NRF]

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.

but government can control or large bitcoin miner pool. If they can control enough pool they can control everything

[Mometaskers]

This mainly targeted ICOs and I'm somehow ambivalent with them anyway. After all, some just pull out value from thin air and then dump.

For bitcoins though and the already established currencies like ether, I think it's too late for the governments to do anything now. In fact more and more countries are legalizing it. South Korea and Japan in East Asia for example and Philippines and Vietnam in ASEAN.

They dont have to completely stop bitcoin to kill it.

Introduce a new law where anyone caught using bitcoin gets 20 years in jail and watch the userbase shrink overnight and the price plumet as the majority dump.

You would always get the few that continue to use but but not enough people to maintain current price point.

They can't even catch all the druggies. Surely crypto buffs would find a way to use their coins. The more you prohibit something, the more people want to use it.

[santiPOGI]

GOVERNMENT can stop the CRYPTO CURRENCY is 1100% true ...
but  i hope this will never happen because of this bitcoin thing many people dedicate their selves to earn and ssave with this.. some quit theirr office jobs and focus on here.. some took time to learn and er\arn with this market.. but if all governtment around the world stop and makea a law for crypto and its all over then ...

[Karen23]

If we come to the moment you fear of that is very scary since lots of us had invested in cryptocurrencies but we'll just hope for the best. But it's close to impossible to stop the activity of bitcoin.

[hangar18]

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.

In theory, they can, but there is no enough condition to do this. They have to proove something before act and take an action against bitcoin. Despite the rumors, bitcoin is not used for criminality and terrorism funding. Governments also know this and they just can't start this now.

The reason Satoshi Nakamoto create Bitcoin do not have create a community currency for UG or criminals, we know Bitcoin gives us opportunity control our money and not depends government. That is reason government do not like Bitcoin and they consider when accept it or ban all!

[karmamiu]

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.

              Yeah i really agree with that opinion by the way, and i think it wont really happen because to think how much it differs and how does it run. Maybe for some reasons it would also affect the proce of bitcoin when some kind of law would be endorsed relevant to bitcoin but still i believe it will remain alive and it will rise again.

[mrcash02]

The government uses a possible real fact (most ICOs are scam attempts) to create a law at their favour. But they exclude the legit people who want to create legit businesses and in this case, currencies. Doesn't matter if the currency will fail or not, I believe people have the right to create it. Nobody is forced to invest, there are risks, everyone in Crypto-Currency must be aware about it. With this rule they create, the innocents pay for the guilty.

It's like Disarmament law. The government takes weapons from the people saying it's dangerous for them, that this way they can stop the thieves... But the true is that they just want to have control over the population, while the thieves will keep their weapons. The same with ICOs: Thieves will keep acting on the shadows, legit developers will be pruned.

And that is just more one excuse to increase the control from government side over Crypto-Currency.

[949miner]

I dont think that they can stop bitcoin, but yes, they can make too much pain around bitcoin and that is true.
If there is an important bank that makes a global announce then it would make a very big FUD.
It happens everytime, but i think that bitcoin will always recover from every losses.
I am tired of the fud that governemnts/banks are trying to affect the price.

[frowsiter]

I think you are misunderstood everything about the china news. The Chinese government has made the rule against ICO to save the countries economy go into illegal or scam activities. They have not completely abondned the idea of ICO or crypto currencies. And talking about the crypto currencies getting dumped, it will always happen because any news like this comes people get very panicked and think they will lose money so they start converting everything into fiat currency. But it's not an issue I guess because once the news is diluted these people out their money back into crypto funds and the crypto currency starts pumping again.

[BitcoinsGreat]

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.

I really don't see the government controlling bitcoin soon due to its nature being decentralized and if it does, it probably would have a negative impact in terms of its price on the market due to imposing regulations and taxes from it. Though one disadvantage coming from its nature is being hard to track-down, and this became an avenue for illegal transactions. Due to that reason, some countries ban the usage of bitcoin but in my opinion, the various opportunities it provide to people overshadow the disadvantages of it. It really depends on the country on which poison they are willing to choose.

I think this is lame excuse to ban bitcoin by the governments as it is used in illegal transactions. Tell me one thing, before Bitcoins was USD or EURO or any other currency was not used in illegal activities or did we have a clean atmosphere which no illegality before bitcoins  
I think Governments should think not only to collect taxes and banning bitcoins, rather they should facilitate people with both fiat and legal bitcoins