Maybe governments can stop bitcoin after all

[bamboylee]

Initially that would be a normal reaction. A country bans bitcoin, weak hands dump. Then they realize that bitcoin is unaffected by those bans, they buy back. Government can't control bitcoin and bitcoin will remain functioning even if more countries try to control or ban it.

[maeusi]

Bitcoin will not be stopped by smart governments because they also gain profits via tax on it. But even they would try, they can't. May Bitcoin price fall down, it always will have a worth because their are already to many real Bitcoiners who also will hold, if it falls down to the ground and who don't care any bans. It is decentralized so ban is senseless.

[HARRYscotter]

it cant beacuse it is out of control and no one hacked it

[richkellj]

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.

I don't know why people are taking the illegalization of ICOs by China as a threat to the world of crypto currencies. Majority is behaving like the bitcoins is going to die. It won't be banned and China is one of its biggest users. It was a political move and need of the time for China so everybody just calm down.

[Seansky]

I don't know why people are taking the illegalization of ICOs by China as a threat to the world of crypto currencies. Majority is behaving like the bitcoins is going to die. It won't be banned and China is one of its biggest users. It was a political move and need of the time for China so everybody just calm down.

Let then be because they are just spreading their typical FUD that they always do when there is a similar news. They always have gone to such lengths just to buy cheaper bitcoins. At least we know the truth that government can stop bitcoins and most will not try to stop it because the usage of many bitcoin users of btc benefits them too specially when some converts into fiat.

[aoluain]

Maybe governments can stop Bitcoin, But do they want to?
There are so many famous people using bitcoin and possibly
some politicians around the world who have Bitcoin, they will
not want to see it banned or outlawed.

Actually there was a thread recently stating that some
government officials from some country had Bitcoin as part of
his investment [apologies for the vagueness]

Anyway 2017 is a year where we have seen Japan and Australia
recognise Bitcoin as a form of payment, which means a degree
of regulation and in Australias case they are attempting to
solve the double taxation there, [something I am not familiar with!]
and they are also looking to attract digital currency industry
into the country while at the same time try to clean up the
"illegal" side of crypto.

We recently see Vietnam recognising Bitcoin positively as well as
South Korea, China [apart from ICO Bans] and Russia as well as others.

So this has been a positive year, there is a lot more to do and to happen!!

apologies I hope I didnt go off topic ?

[iram1011]

What I think is rather than being concerned, you should be happy. After such a big shut down in one of the dominant country in cryptocurrencies, market recovered in a day and is back to momentum, of course except some coins. This shows that market is quite stronger than before and is maturing. In future with better userbase, such dumps would decrease significantly.

ICO shut down by Chinese government is for safeguarding their people for potential scams. On a government point of view, it wasn't bad at all. They haven't banned Bitcoin or other cryptocurrencies and that will less likely to happen. There is no threat.

[pearlmen]

Initially that would be a normal reaction. A country bans bitcoin, weak hands dump. Then they realize that bitcoin is unaffected by those bans, they buy back. Government can't control bitcoin and bitcoin will remain functioning even if more countries try to control or ban it.

I think there is a bigger force at play here because anytime there is a news around, it does not just start affecting the direction of price but all of a sudden, someone just dump and others starts following at the end of the day the ones who lost out will wished they never dumped in the first instance. The news in itself is not bad and I don't think government is winning at the moment.

[cryptojac17]

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.

As of now there is no definite effect to the economy of a certain country so the possibility is buying is still legit to some country and in fact it will uplift the economic status their citizen because of extra income, if people had extra money they will buy and the market place will increase profit and the more the government can collect more taxes.

[iqlimasyadiqa]

Bitcoin will not be stopped by smart governments because they also gain profits via tax on it. But even they would try, they can't. May Bitcoin price fall down, it always will have a worth because their are already to many real Bitcoiners who also will hold, if it falls down to the ground and who don't care any bans. It is decentralized so ban is senseless.

bitcoin is beneficial to all sectors, we as citizens and also the state that regulate it would benefit in the form of financial improvement. people who use bitcoin more and more will find it easier to get jobs, this will make government work more lightweight because their burden on the unemployed citizens will slightly decrease.

[c++btc]

there are some altcoins, ico's that are centralized so they are known and they will be banned in the country of china, but for sure this wont happen in bitcoin because all of the place in the world there are people that hold bitcoin .

[OmegaStarScream]

Maybe governments can stop Bitcoin, But do they want to?
There are so many famous people using bitcoin and possibly
some politicians around the world who have Bitcoin, they will
not want to see it banned or outlawed.

The banking system literally killed people (and whole nations) simply for money or because they didn't want to follow them. I find it weird to believe that they won't actually make a simple law to make it illegal whether some politicians use it or not, these people can easily be paid or blackmailed.

[mrcash02]

Maybe governments can stop Bitcoin, But do they want to?
There are so many famous people using bitcoin and possibly
some politicians around the world who have Bitcoin, they will
not want to see it banned or outlawed.

The banking system literally killed people (and whole nations) simply for money or because they didn't want to follow them. I find it weird to believe that they won't actually make a simple law to make it illegal whether some politicians use it or not, these people can easily be paid or blackmailed.

Now the banks are the rule. The politicians are elected with their money, they choose who wins and who loses as money talks (the mass sells their votes for pennies). Politicians create and make laws as banks and another important sectors want. I don't know if it happens on all countries, but on many.

I believe the banks with politicians will control Bitcoin, but not ban it. They can hold all the supply of BTCs for a country and sell to their citizens for the price they want. Like what already happens if we want to buy Dollars, we never pay the fair price and we never sell for the fair price.

[Razick]

Maybe governments can stop Bitcoin, But do they want to?
There are so many famous people using bitcoin and possibly
some politicians around the world who have Bitcoin, they will
not want to see it banned or outlawed.

The banking system literally killed people (and whole nations) simply for money or because they didn't want to follow them. I find it weird to believe that they won't actually make a simple law to make it illegal whether some politicians use it or not, these people can easily be paid or blackmailed.

Now the banks are the rule. The politicians are elected with their money, they choose who wins and who loses as money talks (the mass sells their votes for pennies). Politicians create and make laws as banks and another important sectors want. I don't know if it happens on all countries, but on many.

I believe the banks with politicians will control Bitcoin, but not ban it. They can hold all the supply of BTCs for a country and sell to their citizens for the price they want. Like what already happens if we want to buy Dollars, we never pay the fair price and we never sell for the fair price.

This is not true! Trump was elected using his own money, not lending from the banks or lobbyists. And look how many famous people tried to take him down during the election, yet he prevailed. Therefore, I am quite certain if the government wanted to ban Bitcoin is would be very easy to do. All they need to do is shut down the exchanges and Bitcoin-related major sites (like this forum) and crypto would come crashing down.

[mrcash02]

Maybe governments can stop Bitcoin, But do they want to?
There are so many famous people using bitcoin and possibly
some politicians around the world who have Bitcoin, they will
not want to see it banned or outlawed.

The banking system literally killed people (and whole nations) simply for money or because they didn't want to follow them. I find it weird to believe that they won't actually make a simple law to make it illegal whether some politicians use it or not, these people can easily be paid or blackmailed.

Now the banks are the rule. The politicians are elected with their money, they choose who wins and who loses as money talks (the mass sells their votes for pennies). Politicians create and make laws as banks and another important sectors want. I don't know if it happens on all countries, but on many.

I believe the banks with politicians will control Bitcoin, but not ban it. They can hold all the supply of BTCs for a country and sell to their citizens for the price they want. Like what already happens if we want to buy Dollars, we never pay the fair price and we never sell for the fair price.

This is not true! Trump was elected using his own money, not lending from the banks or lobbyists. And look how many famous people tried to take him down during the election, yet he prevailed. Therefore, I am quite certain if the government wanted to ban Bitcoin is would be very easy to do. All they need to do is shut down the exchanges and Bitcoin-related major sites (like this forum) and crypto would come crashing down.

You are talking about a first world country (the top 1 country) where the values remain and are taught to their people even with the shadow's attempts to destroy the moral. As I said: it happens on many countries, but there are exceptions (like USA, as you said). I focus on nations crushed by the corruption, ignorance, envy, depravity. That is the modus operandi to conquer a chaotic nation and rule over the ruins.

These ones are easy to rule and there isn't resistance from the citizens side, not because they are innocent or fools, but because they are permissive with the powerful thieves.

[CODE200]

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 also have think that the government have no good reason for them to do to bitcoin system. I may see that government would take bitcoin as a good opportunity for them to put a development and progress to transactions .

[alexsandria]

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 don't think so because as I know bitcoin isn't hold by the government and the government has nothing to do with it. All I can say is that government can criticize the bitcoin thing and file some issues about it but they can't just stop bitcoin after all. Bitcoin today is very strong in terms of there are many users and businessman that invest on it.

[Kousei23]

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.

Government has nothing to do with bitcoin because they aren't the one who holds it. And there are no reasons for the government to stop the bitcoin because as we can see the feedback about the bitcoin was very good and it says that it is very advantagable and it helps a lot of person in terms of financial problems.

[Blitzboy]

I do not care about this issue. It happens almost every year and there is no way they can stop bitcoin. Even if they can stop bitcoin, other cryptocurrencies will be born and they will become even greater than bitcoin. They will have a better security, better anonymous system and can handle many things than bitcoin. The government can not win on this battle

[mung_nasib]

Hopefully only in China that prohibits the existence of illegal ico so that later we can still feel the results of other projects. And no more worries to keep stockpiling coins with small or large quantities of the main Do not ever try to immediately sell or until the coin is removed.