Maybe governments can stop bitcoin after all

[maydna]

bitcoin is a decentralized currency so i think that government could not stop bitcoin. maybe government can banned trading but still there's a lot of ways to do trading you can't stop what is meant to happen. bitcoin is our destiny that's why im keeping all my bitcoin on my wallet and holding it till bitcoin reach my asking price per each bitcoin.

i am thinking the same like you and i think its too difficult to banned bitcoin from all places because bitcoin now become famous and many people is join with bitcoin. i am not sure the government can handle the situation if they really banned bitcoin. i am sure that people will find a way to still used their bitcoin because bitcoin can give them freedom to manage their own money.

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[mriansa]

They cannot stop the decentralized transaction. Afterall, bitcoin is very popular in other countries, how can a government may stop something that is very useful and important for the benefits of others.

Why don't they focus on the economy, crime and corruptions that are happening and not with the issues about someting(bitcoin) that is useful.

of course, bitcoin is a digital currency and is not held by any state or government, the government will not be able to master bitcoin,

[TagaMungkahi]

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.

Actually, Government can stop bitcoin from mainstream activities and it could be back again on dark web activities but i don't think the Government will do such stupid thing, They will get the benefit they can get on bitcoins and other cryptocurrencies/coins. The technology of Cryptocurrency is really beneficiable. There is money on cryptocurrency therefore, i don't think Government will stop Bitcoin from it's mainstream activities.
Regulations is just for trading and exchanges, Still you can use Bitcoin even if the Government illegalized it, It's just you really need to secure yourself from the Government which is a hard thing to do.

[Lenzie]

It is possible, indeed. If the government of a certain country cannot find a way on gaining benefit from bitcoin and other cryptocurrency and this coins are imposing detrimental effect on fiat, then they might take such action like what China did.
The thing is as more country bans the coins, bitcoin will start depreciating and may result on holders selling there share.

There might become an indirect effect on bitcoin market.

[monkeydominicorobin]

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.

Initial coin offering is an investment instrument almost similar to what  the Winklevoss' are pushing. That's what they can ban. But bitcoins are impossible to ban.

[Nerman]

Actually this is what i fear the most. China one of the big player in the Cryptocurrency banned ICO. If my understanding is correct they did not ban Bitcoin at all, they could still buy and sell goods using Bitcoin.I hope that they do not totally ban it.

Also what if United States of America follows China definitely there will be a panic selling.

If superpower countries unite against Bitcoin, it will be just a bunch of 1 and 0.

[player514]

Actually this is what i fear the most. China one of the big player in the Cryptocurrency banned ICO. If my understanding is correct they did not ban Bitcoin at all, they could still buy and sell goods using Bitcoin.I hope that they do not totally ban it.

Also what if United States of America follows China definitely there will be a panic selling.

If superpower countries unite against Bitcoin, it will be just a bunch of 1 and 0.

To the new investor, I see how this can be extremely fishy and scary. China has always been marketed as the father of Bitcoin because of all the mining efforts and pools and exchanges. However, with that in mind, notice that Bitcoin has actually rebounded past this initial drop. I think that's the amazing part of it all. Sure, it another country dropped BTC support, we'd see some drops, but for now, it's crazy that BTC has made it back through all the news.

[WoodySpoon]

They can't remove Bitcoin, but they can remove exchanges.

Sure you can transfer your money to another currency and use that to purchase Bitcoin, but it'll be a hassle a lot casual users won't want to go through.

Not to mention, it then regulates businesses tax wise and forces them to act illegally and forge documents, which 95% of business will not do just for Bitcoin.

If governments don't want Bitcoin to succeed they can make sure it wont, at least not to a scale where it becomes a global norm.

[bubblebit]

Yes it is a serious matter and it looks too serious that it might be a bad thing. In short time if those superpower might have banned bitcoin it would be this year or past years as it started. They can't do that when or after this year when more million users and supporters are joining day by day. If they want to stop it the first place they will not even give any attention of regulating. It is called a waste of time and they will look stupid if they do so.

[Doms]

With a lot of well known personalities getting involved in ICOs, including Hollywood stars, the SEC's attention is going to be raised here. Something's gonna be done to regulate these activities to somehow minimize its effect on bitcoin. With regard to bitcoin being banned by all governments, it seems kind of unlikely for it to happen unless it it doesn't serve any good purpose to the people. It's money after all and an innovative one at that. Events like these should call for actions that bring good to a greater number of people in the long run.

[Latviand]

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 the government can really have the power to dictate what comes in and out of their borders and that is why the power of the masses come in. IF the government sees that their constituents have been following and are being affected positively then they can change their mind on this.

[chutchmcgillicutty]

I don't see how anything can stop bitcoin at this point. Big money is getting into it now and that same money is mixed up in governments. I see bitcoin being co-opted. Its too big at this point.

[Pumapipa]

Maybe if bitcoins become a threat to their national currency and also their trading, then they may be able to ban cryptocurrencies. I don't know what's the deal with China making bitcoins illegal but from what I heard, bitcoins made their market weak. If this is so, then governments may ban CC as well.

[barhavsky]

if the government stops bitcoin then many people will lose the source of income especially for those who make bitcoin as the main income.

[MAbtc]

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.

BTC price is almost all derived from speculation. The real use cases, This forum micro economy, blackmarkets and a few other can hardly explain this price level. So as a purely speculative asset it will be seriously exposed to this kind of pump and dump based on news, even irrelevant ones.

These economic use cases only feed into Bitcoin's actual use case: a network. The same goes for gold. Gold has value because people believe it has sound properties and therefore widely accept it as money. The "use cases" of industry/electronics or jewelry pale in comparison to its use as an economic hedge (because of its historical acceptance as money).

That is the type of network that we are building for Bitcoin. Is it still risky at this stage? Of course. But gold was the money of previous generations. Cryptocurrencies might be the money of the future.

[Panda Trump]

if the government stops bitcoin then many people will lose the source of income especially for those who make bitcoin as the main income.

Yeah like governments are actually thinking about their people...
Governments don't care a flying piggy butcher about the lives of their inhabitants.

Regards,
Trump

[Proton2233]

if the government stops bitcoin then many people will lose the source of income especially for those who make bitcoin as the main income.

Punishment without guilt does not happen. The government will start a war with bitcoin. And instead now use the break to strengthen their power, we are useless waste of time. Until each of us will be forced to change bitcoins to Fiat to buy the necessary goods we are vulnerable to governments.

[kpcian]

I don't think so, the Government cannot take any final steps to ban or stop Bitcoin by any means. because the rule can ban but it can't stop exchanging among the Bitcoin user. it is really difficult to terminate Bitcoin exchange. but every government tries to take a step against this platform. of course, Bitcoin is totally different from any other digital currencies which can't be controlled.

[Lancusters]

I don't think so, the Government cannot take any final steps to ban or stop Bitcoin by any means. because the rule can ban but it can't stop exchanging among the Bitcoin user. it is really difficult to terminate Bitcoin exchange. but every government tries to take a step against this platform. of course, Bitcoin is totally different from any other digital currencies which can't be controlled.

The government may by any means to deal with bitcoin, but to stop the exchange bitcoins directly between users and direct trade with bitcoins, they won't be stopped. If this mechanism will work then we will win. If not then we will become victims of this war.

[electronicash]

if governments are all going to treat BTC illegal then we all are going to go underground   there ain't going to stop BTC its price may dip to the very low but it will eventually rise from its ashes particularly to those who just keep themselves online. BTX better for those who hold and keep using it. Those who were dumping deserves to have no opportunity on crypto.