Maybe governments can stop bitcoin after all

[deuxmill]

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.

Weal there is always the risk of a populist/extremist to rise. And if the price drops enough then it can make others sell in panic.

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[Cakalasia]

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.

Government can ban the bitcoin so maybe it can be the way for them to make it illegal in other country.  Government can't control bitcoin but they can make it illegal so you stop using bitcoin.  

[jaysabi]

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.

Governments banning bitcoin would have a direct effect on the market. People will need to cash out to prevent having a useless asset. The selling pressure in such a scenario would feed on itself, the same way buying pressure tends to fuel itself in bubble-like fashion. It's entirely probable that bubbles deflating will pop rather than deflate in an orderly manner allowing people to exit orderly. The drops will be large and fast and not provide warning.

[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.

Government can ban the bitcoin so maybe it can be the way for them to make it illegal in other country.  Government can't control bitcoin but they can make it illegal so you stop using bitcoin.  

the government would have to ban all digital currencies which can be a deluge but would the users like you allow that to happen?

the businesses including the big corporations are already into digital currencies, i don't think those companies are going to give holding tokens. the governmetn would have to stop opensource projects which can be hard for them.

[Tungsten-1]

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.

Yes I also don’t think so that government can stop bitcoin after all. The recent ban from the Chinese government on bitcoin is example where despite of too much restrictions bitcoin have saved their worth and value in the market. People of China are still using bitcoin through VPNs and other resources. So, governments can never stop bitcoin at all.

[Ronaldcoin2017]

Governments prohibit a lot since hundrets of years and never ever were they able to stop anything of it!

Their action can only lead to a decrease of its use and maybe of the revenue, but nothing more.

yes i agree on that bitcoin is not really a probblem in a community in fact it is verry helpful to tbose people who really suffer from poverty and it is basicaly now an another source of income and it really work.so then why government stop bitcoin after all if the case is that it is verry helpful?

[Baser]

No goverment can control or manage Bitcoin. USA supported to Bitcoin. China is holding more Bitcoin in the market when compared to other countries so it may damage their countries by conducting the ICO's. I also think it is a political move.

[batang_bitcoin]

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.

If this will happen Bitcoin's image will be backed again like the early days that it is the currency in the dark market and the accusation of Dimon will be for real. There will be a limited market for bitcoin if this happens but anyway, what's happening now is opposite.

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 sure, many will panic sell and will be on FOMO mode and bitcoin will be a history only.

[barbara44]

They can't stop bitcoin only can stop companys for using them. Thats all don't panic.

I do agree with you that the bitcoin currency is growing very fast and it is being so famous in a lot of areas the process of the bitcoin is making the the people aware of the real profit so people are believing in bitcoin more than before.  Currency of the bitcoin is gaining fame in some backward areas as well people are trying to connect with internet for the sake of the bitcoin so it is impossible to stop the bitcoin now.

I have same opinion regarding the fame of bitcoins. They are now unstoppable and I don’t think so there is nothing wrong with this currency. Governments have no strong reasons of banning such a nice and hell profitable investments and currencies from being used by everyone. Bitcoins are going to be international currency soon.

[nkarm1]

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.

Yes, on that scenario we would have no other choice but to sell it. What would you do with it if it is illegal right? Sell it as the others do. Then for sure you wouldn't help fighting temptation to buy at lower price so you will do everything you can to buy at its dip. But you can't because you wouldn't want to go in jail doing illegal things.

Yes bitcoin has a decentralized network and the government can't stop it. But there is one thing that government can do, and it is to control the peoples using it. On that way they have regulated it because without users mining and transacting with it, it will be just a dump.

[Babyrica0226]

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,

That's right dude, since bitcoin is decentralized we knew for the very start that any private sectors in the government can't able to control bitcoin. But if bitcoin become centralize I think that's the time I could possibly say that bitcoin can be control by the government.

[Reid]

How can governments stop something that is digital on your pc or mobile?

They can prohibit it and you are right saying that a large number of users within that country will try to sell their coins as it happened in China.

But as everyone can see, bitcoin still exists and its price is still on a high level. And the chance that all governments in this world will prohibit it is zero!

No it it not zero. If a number of countries banned it then its value will keep on going down.
With that, panic will be created and even those users whose countries are accepting bitcoin will perish and start to sell it.
Is there anyone here who wants their money at loss? We all want profit and that situation takes it out.

[Supreemo]

How can governments stop something that is digital on your pc or mobile?

They can prohibit it and you are right saying that a large number of users within that country will try to sell their coins as it happened in China.

But as everyone can see, bitcoin still exists and its price is still on a high level. And the chance that all governments in this world will prohibit it is zero!

No it it not zero. If a number of countries banned it then its value will keep on going down.
With that, panic will be created and even those users whose countries are accepting bitcoin will perish and start to sell it.
Is there anyone here who wants their money at loss? We all want profit and that situation takes it out.

,yes i believe it though, not all investors and bitcoin holders think the way we did like we still have hopes in bad situation. often times big investors also just go with the flow in case that announcement might happen. way back then, i always thought that what if someday the each of the countries or the government will conduct a discussion and unite in banning bitcoin, that could happen, so hopefully it wont.

[olushakes]

Government will only try to stop bitcoin but ultimately might not be successful what they are scare of is the continuance increase in the value of bitcoin and equally the number of people getting involved on a daily basis. And they felt, if this is not controlled, it might change the world order of liberation for people and when this happen, they are the most to lose out. But in all, what they have done successfully is slowing it down and not stopping it.

[khaled0111]

"Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading." That's what say everyone, and I am 100% convinced that it is true and  many arguments can be montioned to prove that fact, you can take the Chinease government ban on Bitcoin as an example.

[Palmerson]

"Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading." That's what say everyone, and I am 100% convinced that it is true and  many arguments can be montioned to prove that fact, you can take the Chinease government ban on Bitcoin as an example.

The ban of bitcoin in China is only the first sign of a struggle governments with cryptocurrency. For all the bellicosity of the rhetoric we often see simultaneous actions of America with China. I think we will soon see similar actions from the American government. It will be a serious situation.

[Sled]

"Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading." That's what say everyone, and I am 100% convinced that it is true and  many arguments can be montioned to prove that fact, you can take the Chinease government ban on Bitcoin as an example.

The ban of bitcoin in China is only the first sign of a struggle governments with cryptocurrency. For all the bellicosity of the rhetoric we often see simultaneous actions of America with China. I think we will soon see similar actions from the American government. It will be a serious situation.

Bitcoin will never die even there will be a lot of governments that will ban bitcoin because if you will see that even the china which is one of the biggest country that has a lot of bitcoin users, they ban bitcoin and you can see that the price is just slightly goes down but i think that it will go up in the future and the price will continue to go up to the moon.

[finthebar]

While some governments might initially rush to ban Bitcoin perhaps because they see it as a threat, or maybe they don't fully understand it - I think in the medium term they will be unlikely to want to be left behind when they begin to see what benefits the underlying technology can bring their citizens. It would be a bit like a country trying to ban the internet.

[E-shipper]

I think that the government sees a threat in the bitcoin and can destroy it with the help of bad news and prohibition, but I do not think that they will do it because most of this kind of earnings is interesting.

[omnik]

Government will only try to stop bitcoin but ultimately might not be successful what they are scare of is the continuance increase in the value of bitcoin and equally the number of people getting involved on a daily basis. And they felt, if this is not controlled, it might change the world order of liberation for people and when this happen, they are the most to lose out. But in all, what they have done successfully is slowing it down and not stopping it.

THe sadly part is the exchange site still become the weak part in crypto such as the crackdown of the chinese regulators with a lot of the exchange sites in there and that can be an example for you to recorrecting your word again.