Maybe governments can stop bitcoin after all

[GreenBits]

Bitcoin is not as "government proof" as we like to talk about it.  governements can shut down bitcoin pretty easy; they just have to make the possession illegal, which is not an unheard of thing here. we have plenty of laws against possessing illegal/prohibited information products. look at the legacy of laws attached to obscenity/pornography.

no matter what layers of obscurity that the protocol make evolve to have, you must possess a key in some form, be it a file of a piece of paper. if bitcoin is illegal, possession of that token will be illegal, and you will suffer the consequences accordingly if caught

no different than holding a cache of unlaundered, illicit funds

[nakata90]

I don't care what the Chinese do with BTC, very large cryptocurrency community, they can only reduce part of the development of the BTC, but thanks to which every person is as known through the BTC news.
I believe BTC will develop and its price will increase after experiencing this crisis.

[eaLiTy]

I don't care what the Chinese do with BTC, very large cryptocurrency community, they can only reduce part of the development of the BTC, but thanks to which every person is as known through the BTC news.
I believe BTC will develop and its price will increase after experiencing this crisis.

I really do not see any crisis ,the market behaves like usual,you cannot see a market that only goes up,there will be certain bumps in the road every now and then,there will be consolidation time and then another rally starts,so this recent negative market should not deter anyone,governments cannot stop bitcoin,they could regulate or stop a bitcoin exchange being running in their country but other than that they could not regulate the entire network.

[carriebee]

Governments can't stop Bitcoin because it has no borders. Bitcoin is a decentralized network of computers with an insurmountable has power. Maybe before, but not anymore.

Nowadays bitcoin has spreading its awarenes in any country. And its use how it can help a certain person in term of monetary system. So I dont think bitcoin can be ban by the government it is not easy to do because bitcoin has come this far. Many users are already into bitcoin and they enjoy what we have now .

[hildacitra]

how could government stop bitcoin while the citizens are helped in case of financial problem. bitcoin also reduces the number of unemployment. from this point of view, bitcoin helps government in terms of welfare benefits.

[Kaller]

how could government stop bitcoin while the citizens are helped in case of financial problem. bitcoin also reduces the number of unemployment. from this point of view, bitcoin helps government in terms of welfare benefits.

The citizens have no power against a ruthless government like the USA. No matter how many weapons you hold, the army is far better supplied. If cryptos got banned there would be local rioting for a week or two, but eventually the government would stop it and do what they want. It is sad, but true.

[Sled]

how could government stop bitcoin while the citizens are helped in case of financial problem. bitcoin also reduces the number of unemployment. from this point of view, bitcoin helps government in terms of welfare benefits.

The citizens have no power against a ruthless government like the USA. No matter how many weapons you hold, the army is far better supplied. If cryptos got banned there would be local rioting for a week or two, but eventually the government would stop it and do what they want. It is sad, but true.

The power of the government in every country is too much and the people who will be against them will be on trouble so i think it is not that easy for bitcoin to surpass the possible challenges that bitcoin will encounter because bitcoin will be a huge threat for every country and every government will do anything to lessen or remove that threat.

[fishbonez11]

Bitcoin will stop if all countries in the world stop recognizing bitcoin. But with Japan's move, I believe that more and more countries will open its doors and adopt bitcoin in the future.

[zzSunZZ]

Why should they stop bitcoin? When bitcoin already is some kind of legal property in many country . If you're talking about the volitale of Bitcoin , so why don't you talk about gold? About stocks ? Why the goverments don't stop them ? Bitcoin is security and no goverments can touch it at all.

[kier010]

governments can stop bitcoin they have the power to do it but they can see the good side of it. governments see bitcoin as great help in economic needs cause it open a lot of oppurtunities. so i think they won't stop it.

[cpfreeplz]

That's one huge problem when you become more mainstream. No one gives a shit about what bitcoins are about, they just want to profit in terms of fiat. It's so wacko I can't even believe there are still people out there that will blindly follow whatever their governments do. It's a joke. Everyone needs bitcoins or something similar. If you don't realize it yet you'll be way behind.

[nethan1btc]

 The reason why Government will possibly do this is because the more people who uses Bitcoin the less they are getting from the tax.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.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.

[Dr.Osh]

That's one huge problem when you become more mainstream. No one gives a shit about what bitcoins are about, they just want to profit in terms of fiat. It's so wacko I can't even believe there are still people out there that will blindly follow whatever their governments do. It's a joke. Everyone needs bitcoins or something similar. If you don't realize it yet you'll be way behind.

well, and I do not think the government can stop it. even more so if a lot of people are dependent on bitcoin. I mean that their main income comes from bitcoin. well, even if the government makes it illegal, very many people are still looking for it. especially if the government makes illegal bitcoin for no reason.

[OracionSeis]

I don't care what the Chinese do with BTC, very large cryptocurrency community, they can only reduce part of the development of the BTC, but thanks to which every person is as known through the BTC news.
I believe BTC will develop and its price will increase after experiencing this crisis.

I really do not see any crisis ,the market behaves like usual,you cannot see a market that only goes up,there will be certain bumps in the road every now and then,there will be consolidation time and then another rally starts,so this recent negative market should not deter anyone,governments cannot stop bitcoin,they could regulate or stop a bitcoin exchange being running in their country but other than that they could not regulate the entire network.

In the fact, I like the market has ups and downs like now, I do not want the price of Bitcoin always increases and reach to moon price then dump to the hell. No one want that future happens, and me also one of them.

[royalfestus]

That's one huge problem when you become more mainstream. No one gives a shit about what bitcoins are about, they just want to profit in terms of fiat. It's so wacko I can't even believe there are still people out there that will blindly follow whatever their governments do. It's a joke. Everyone needs bitcoins or something similar. If you don't realize it yet you'll be way behind.

well, and I do not think the government can stop it. even more so if a lot of people are dependent on bitcoin. I mean that their main income comes from bitcoin. well, even if the government makes it illegal, very many people are still looking for it. especially if the government makes illegal bitcoin for no reason.

I will not join anyone to believe Government can't control bitcoin again, just a scare of what the government is capable of doin by JP Morgan had slow down the growth of bitcoin in recent days. I also think bitcoin need this sometimes, news and market demand should not be the only reason for growth. A virtual currency in the hands of few growing into mighty valued currency, it can give people so much power than the governing territories. I want the growth slope not to be as steep as before.

[Paecga129]

I'm not sure what you are referring to but there is no way governments are stopping Bitcoin as it is a computer network with people from different computers all around the world running the software, which makes it impossible to shut down.

[justdimin]

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.

This is just a minor setback and mind you that it's only the ICO's that were deemed illegal by the Chinese government and not Bitcoin or other cryptocurrencies themselves, I really believe that these ICO's should be regulated like other securities just like the SEC said the last time because most people can raise money for GOD knows what with all these ICO's.

I totally agree about the ICO ban though cause a whole lot of people were using the ICO project to scam a lot of crypto users which if care is not taken will end up messing up the whole cryptocurrency idea.

But, people who just want to manipulate the market including some Chinese whales decided to use the media to play their tricks which it painfully worked. However, it is always a good time to make some profit as fast as I am concerned.

[biskitop]

after news that the Chinese government stopped all bitcoin exchange activities in their country, I am afraid it will have an impact on other countries. although the Chinese government reasoned to close the exchange of bitcoin, and would regulate the bitcoin and open the exchange of bitcoin again. but the impact of the closure, the bitcoin value directly down, but now has started to rise again. how do the masters think, about the Chinese government that stopped the bitcoin exchange activity? does it make governments in other countries do the same with the Chinese government?

[pugman]

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.

Maybe some countries will, maybe not. China banned icos because of money laundering happening online. China wants to regulate all the crypto currency  related exchanges now, by implementing kyc and anti money laundering rules and regulations. So now we will have to wait for a couple of months maybe for china to get back in the game. Other countries probably won't do anything because they don't have anything against bitcoin.

[millgates]

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.

But you can see that the price of bitcoin is go up again,  the banning ICO actually does not directly affect bitcoin, but it affects the price of most altcoin. The government tries to stop cryptocurrencies in stage of grow it value at a crucial early stage before it becomes too valuable, has high liquidity and unable to control them.  In my oppinion is the banning ico in china could make the current crypto currency become more valuable because the investors only  can invest in the current crypto currency that make its price go up.