Maybe governments can stop bitcoin after all

[ArrogantPeacock]

even if the government fights again BTC, it will still evolve

it will just continue trading under the table or via VPN's if sites get blocked.. that's part of the reason Bitcoin is so popular, it can't be controlled by anyone

[Ilegendph]

For me, its an unwise decision of government to ban bitcoin in their respective nation. Governments gains funds through tax, I suggest that  just earn tax from bitcoin, how?, well our government in our country accept bitcoin and now they earning through foreign exchange. People can invest in this establishments where our government permits to operate. And also the unemployment and underemployment rate in our country become lessen as more people in our country uses bitcoin.

[Armstand]

For me, its an unwise decision of government to ban bitcoin in their respective nation. Governments gains funds through tax, I suggest that  just earn tax from bitcoin, how?, well our government in our country accept bitcoin and now they earning through foreign exchange. People can invest in this establishments where our government permits to operate. And also the unemployment and underemployment rate in our country become lessen as more people in our country uses bitcoin.

Government should see the potential help it can give to their people. Government that are banning it maybe can't find a way to get something from tit or to corrupt it. If only government know the benefits their country can get through it.

[krishnapramod]

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.

Yeah, it is quite possible. Governments can ban bitcoin and pass laws to make bitcoin usage a punishable offense, and something like this would stop bitcoin adoption to an extent. But since the governments can't control it, a ban by major countries would have an equally opposite effect. More people would come to know about bitcoin, people who are fed up with the flawed monetary system might start taking an interest in bitcoin, more dark markets.

At around 2013-14, it was more easy to ban bitcoin, but now a ban isn't impossible, but there would be more repercussions.

Bitcoin Bytes Back - An article from 2013.

In the end, bitcoin is a bet on the other side of The State’s coin; the free market side. It’s a bet that voluntary trade will, in the end, overcome neanderthalic force and coercion. It’s a wager that the conversation currently underway in the shadowy “black” market is far more intriguing, far more complex, far more nuanced and exceedingly more interesting than the yip-yapping that distracts the undead, mainstream TV-consumer for an hour or so around feeding time every evening.

If bitcoin goes to its grave tomorrow – and it may well do so – it will be in service of precisely the point free market enthusiasts have been advocating all along: That it is not for a committee to determine the price of a good (including money itself)…or for a state or a central agency or a law or an edict.

That is for the market to decide. Today, that market says a bitcoin is worth $19. Tomorrow, maybe 19 cents…or $19k. No one body knows…and that’s exactly the point.

https://dailyreckoning.com/bitcoin-bytes-back/

[glowing10]

even if the government fights again BTC, it will still evolve

it will just continue trading under the table or via VPN's if sites get blocked.. that's part of the reason Bitcoin is so popular, it can't be controlled by anyone

Well in such circumstance it will be illegal and people will refrain from doing any such act ivies once the government put a ban on such things. Why will people like to do things against what government has said and fall under the trap of laws for their rest of the life. Of course it wont stop 100% but only a handful people will be involved than in bitcoin after this.

[Indrawan77]

It is not that easy to stop bitcoin, it is different with ICO where the supports is still small, bitcoin got a world wide users and most of the users are hi tech people, and I believe they can find  away to make bitcoin alive, but if government banned bitcoin it will affected bitcoin price a lot

[mace15]

It is not that easy to stop bitcoin, it is different with ICO where the supports is still small, bitcoin got a world wide users and most of the users are hi tech people, and I believe they can find  away to make bitcoin alive, but if government banned bitcoin it will affected bitcoin price a lot

Yes it's not easy to stop bitcoin by the government. As these days bitcoin has been spreading in any countries and attracts more users. So it is really hard to ban bitcoin by the government if this would happen.

[Adbitco]

There might be opposite of what you suggest op which most of the governments might do instead of banning bitcoin or making it illegal. Governments might make it taxable and try their best to ensure that everyone who earns a good income with bitcoin or cryptocurrencies pays a tax. Bitcoin and cryptocurrencies can be huge source of revenue for governments and after having shown their liking towards the concept and technology behind bitcoin I don't think governments of most of the countries like Russia, USA, Australia, UK, India, Vietnam, Japan would be doing anything to harm bitcoin and make it illegal, they might instead make laws to regulate it but won't ban it.

[gabmen]

But if you think about bitcoin it will help the country's economy, why would they do it by law, it's sad to see if that day is coming. Better in other countries bitcoin is legal and they can use it everyday.

Who cares about the economy exactly? maybe the citizens but the people on the top of the top are literally making money out of thin air, as long as they control the currency, they really don't care but when you offer something decentralized that cannot be controlled by them, then you become a threat.

Right and crypto market would likely find itself under these people on top's noses and they will try to find a way to control it. You can't really do anything about it and we can just wait and see how this will plat out or if they government would do something to try and control crypto

[Gabrieelle]

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 my opinion I think government cannot stop bitcoin. We all know that bitcoin was made from technology and we can earn through internet. The only can stop bitcoin is the internet. Without the internet bitcoin is useless. But government cannot stop also the internet because no one owns internet.

[stepwilli]

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.

It shouldn't be involved with the government because we didn't know what government could do to bitcoin. Governments now is very selfish when it comes to money they want that all money will be sent to them those people who are in the government. So I believe that bitcoin should be cared by the developers because once bitcoin will involved to government therefore there's something happened that are not good.

I support your opinion. All the governments are bloody greedy and selfish, they give a damn to the needs of public rather care about filling their accounts with dollars. Governments should never ever be involved in managing d handling bitcoins. They will simply sue bitcoins for their own welfare.

[digaran]

Have you ever think about the people buying whatever others are dumping on? there has to be a good reason for them to spend their money on something with the possibility of becoming illegal in the entire world some day. as long as I can remember BTC was supposed to be illegal in the eyes of banking governments, but not illegal in the eyes of justice.

[ekoice]

China government's decision is entirely different from other country governments.First,they decided to ban bitcoin.Then as hey found it difficult to do so directly,they started to regulate chinese exchanges regulations from PBOC.Then,now they have banned ICOs.PBOC has planned to create ts own prototype crypto currency.Only trading crypto currencies in chinese exchanges are banned and trading outside is not yet banned.Definitely,it would create an impact on bitcoin price making its price down.Investors should make use of this opportunity and buy more bitcoins.But other countries seems not to have such idea of banning cryptos.Instead,most countries are coming forward to legalize bitcoin.They have realized that they could not stop bitcoin and instead they should legalize bitcoin and regulate it for increasing tax revenues from bitcoin earnings.Dragon era seems to come to an end soon.

[Carlsen]

Bitcoin is not just a currency/investment.
It is a story as well.
A story about an invention for small people that helps them to rebel a bit against authorities. People like stories like that. It's a good seller!
With every government that tries to intervene in the usage of bitcoin, that story becomes stronger. And the people feel more attracted to it and join.
I think if governments try to stop bitcoin they will reach the opposite in the end.

[resty]

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.

 no its not, because many people wanting to have a lot of money using Bitcoin this is the way to change  our life in terms of financial many people around will find any solution of poverty, but now! bitcoin is doing that for us, unless Bitcoin is used for an illegal activities, which is not good,  that's  the time the government will going to stop this bitcoin

[RayvenPierre]

It is hard to see Bitcoin being banned from all countries because there are lots of countries that are actively supporting and legallizing it like Russia and Vietnam. And there are people buying those dumps which are mostly the whales who stock up on their coins whenever the price drops and people panic sell

[Pamadar]

It is hard to see Bitcoin being banned from all countries because there are lots of countries that are actively supporting and legallizing it like Russia and Vietnam. And there are people buying those dumps which are mostly the whales who stock up on their coins whenever the price drops and people panic sell

big names in terms of country who's supporting crypto, we seen that japan austalia and korea recently express their supports while china is on the process of
thinking on how to regulate bitcoin/crypto and with Russia showing strong support maybe its hard to stop bitcoin in any ways.

[julius caesar]

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 am hoping too, but the mere fact that thry can banned it all over the world scares me in the sense that someday bitcoin might not give taxes in government since government cannot do something for them to get money they'll make away to stop this and I am hoping that it wouldnt happened soon since bitcoin has gaining now popularity because of its value.

[Tahir Khan]

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.

It shouldn't be involved with the government because we didn't know what government could do to bitcoin. Governments now is very selfish when it comes to money they want that all money will be sent to them those people who are in the government. So I believe that bitcoin should be cared by the developers because once bitcoin will involved to government therefore there's something happened that are not good.

I support your opinion. All the governments are bloody greedy and selfish, they give a damn to the needs of public rather care about filling their accounts with dollars. Governments should never ever be involved in managing d handling bitcoins. They will simply sue bitcoins for their own welfare.

I Think this is wrong because everything should be monitor by the governments if govt dose not then their will be anarchy every where

[dynospytan]

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 think that's not gonna happen. To stop bitcoin they need to stop also the internet and we all know that no one's own internet. Let's say a government banned the bitcoin but the government cannot stop people who wants to earn bitcoin. So there is nothin to worry about it.