Maybe governments can stop bitcoin after all

[Official Armor Ceramics]

It makes no doubt, governments can forbid to use Bitcoins. But the idea of Bitcoin is that it is supranational currency that is not controlled by the government.

[lilit]

I think that governments can not stop bitcoin because it is an uncontrolled currency and while the Internet exists, users will be able to use crypto-currencies.

[coinjack1337]

I think that governments can not stop bitcoin because it is an uncontrolled currency and while the Internet exists, users will be able to use crypto-currencies.

Absolutely true. One can't ban a decentralised Project like cryptos.

The USE of bitcoin and cryptos instead might get banned. This can happen when governments can't regulate in a way they want it to.

[micleeiu398]

Actually government can do that, as we observed now more countries are making this legal and the time will come that government will take controlled with bitcoin. Once it is abuse by the authorities, a big possibilities that it could affect bitcoin investors and crypto changers relationships with the government and war begin, possibilities that will it make crypto world down.

It is sounds good to hear only that bitcoin was being legalized in some other country. But for me it is not good due to once bitcoin become legal in the country from Decentralization of bitcoin it can possibly change into centralization and if that happened it will be a bad news for us to hear that.

It is not easy to convert the decentralized nature of bitcoins into centralized one simply by making them legal. Many countries like Japan, America etc are still not able to regulate bitcoins though they have legalized them for the betterment of their public. Bitcoins are the best ever digital creation and I am pretty sure that it is going flourish even more in the coming months and years.

[sana54210]

Governments can definitely stop bitcoin because they have the power to command all its citizen and there is nothing can prevent that and the only choose of the citizens in their country is to obey on what the government says so it is really possible for the government to stop and eliminate bitcoin and other cryptocurrency.

And you think if my own government is so stupid enough to ban bitcoin due to their own selfish desires, I will be so stupid enough not to leave their country for them? As long as not all government all over the world will lay a ban on bitcoin(which I feel is the only effective way to destroy bitcoin but impossible), I will gladly find a bitcoin supporting country to go and invest. Apparently, my country does not deserve my tax.

[Wildwest]

I think it possibly happen if there are people who abuse Bitcoin that should not be done. If governments together banning ICO like what china does or banning altcoins that possibly can make bitcoin also dissappear.

[electronicash]

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.

What is really happening is a form of set back and short lived victory for government because deep down within, they will start rejoicing that a policy like this a go a long way in crashing the price but little did they know that this is another one of their arsenal let out of the bag and the fall in price is a form of retreat in other to come back stronger against gimmicks like this.

korea had already declared ICO bann. but it seem not affecting at all. not a news that we'd buy right? soon the news about more countries banning BTC and ICOs might just be ignored. and investors will just go on without even leaving a comment.   

the only reason  why they panic is because chinese investors have no balls. SNM will shine.

[ronafurw]

I think some corrupt government official will do. Because bitcoin don't have tax at all.

Exactly! I think there is no point of stopping this trade of Bitcoin by any government in any country. In fact, the Government should take the positive steps and it should legalize this crypto currency so that it can work out in a better way. I think this is just a false hypothesis and I don’t think this will ever happen, still a good hope for bitcoins in future.

[Mr.John19]

I think governments can stop bitcoin as long we have a stable internet we can have the stability and safety, maybe they can free us from economies controlled by the governments or banks. Governments will not be able to stop us.

[JaredStein]

I'm not sure what gave you that impression but governments can most definitely not stop Bitcoin otherwise they already would have. They've tried though believe me. Now they're just trying to cause misinformation in the media. That's all they have left lol.

[PokerFace3]

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.

May be you are right because they can be a threat for national currency which is not so much beneficial in the country’s interest. China has banned bitcoins in their country because bitcoins have weakened their economy as china has very large number of bitcoins investors. So governments may take action against bitcoins.

How has bitcoin weaken Yuan (chinese currency) if I may ask? Rather than trying to find ways to take actions against bitcoin, why not find a way to make the best use of the technology to improve the economy instead. Moreover, I still do not see how this really affects China, the only thing I may see here is that it is against their monetary policies which they are trying to see best ways to control it not going against it.

[thoham]

Governments can't monitor many human to human transactions or not "know" how many tomatoes a farmer grows and sells seems to completely ignore the rapid growth of surveillance already happening and the exponential curve of AI in the present and imminent future.
Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.

[smokeydog]

I think that the governments can put pressure on bitcoin and other crypto's, but it's too late to stuff the genie back in the bottle.

People are losing faith in their governments, and thus fiat, and need something to put their money in to try and preserve wealth. Precious metals are an age old safe haven, but they're not nearly as practical as crypto when it comes to trade.

The crackdowns may slow bitcoin down, but people will just find other, more secure/anonymous coins to preserve their privacy. See my signature for one upcoming example - Deep Onion.

Here in the US your second point is not true.   Home Owners Associations everywhere.  People don't want freedom, they want to be controlled and they look for centralized entities everywhere to take over their rights.  Federal, state, county, city, associations, unions, churches.  People can't get enough of them.  An every growing number of people in the US have complete faith in the government and want more of it.   The socialism of Bernie Sanders is a growing movement which like bitcoin won't be stopped.  Just look at single payer cradle to grave government health care free for all.  People are marching in the streets demanding it and they are putting their faith in government to give it to them.   In the end they will find they got only lies.  They won't have any health care, they won't have any gold/silver and they won't have any bitcoins either.  And the guy who sold them the lie be it Bernie, Chaves, Maxine Waters or someone else will be long gone and in all likely hood they will have healthcare, gold/silver and some bitcoins too.

I see bitcoin as a black market safety net to balance out Americas move to socialism which will fail just like it has in Venezuela, Greece and Italy.  The rest of EU is in the same boat just farther behind.   Bitcoin will continue on driven by the every growing numbers of people who put their faith in central governments.  Some of us will know better.

Governments are powerless against drugs, blackmarkets of all kinds.   Government once made people in the US turn in gold if they had it.   Only the sucker, losers fell for that one.   Bitcoin is here to stay and will become a balancing force.

[Victorycoin]

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.

What is really happening is a form of set back and short lived victory for government because deep down within, they will start rejoicing that a policy like this a go a long way in crashing the price but little did they know that this is another one of their arsenal let out of the bag and the fall in price is a form of retreat in other to come back stronger against gimmicks like this.

korea had already declared ICO bann. but it seem not affecting at all. not a news that we'd buy right? soon the news about more countries banning BTC and ICOs might just be ignored. and investors will just go on without even leaving a comment.   

the only reason  why they panic is because chinese investors have no balls. SNM will shine.

Banning ICOs is certainly not the same thing as banning Bitcoin, which seems most unlikely to happen because banning a decentralized system is like chasing the wind and the governments would have already done so if it were something they could readily do, but it isn't really something that can be all said and done.

[Webetcoins]

Governments can't monitor many human to human transactions or not "know" how many tomatoes a farmer grows and sells seems to completely ignore the rapid growth of surveillance already happening and the exponential curve of AI in the present and imminent future.
Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.

Yeah you are right now a lot of the people are making profit from the bitcoin. It is the currency of the future and it will grow more and more than decreasing. No government will stop using bitcoin and it will not let bitcoin get down at any cost because it is the time for all of us to make bitcoin more popular so that the government will legalize bitcoin and they will increase the price more.

[salihno71]

What we can see today is increasingly invasive approach of the governments worldwide into the daily lives of it's citizens. I'm not too optimistic about the approach of the most of the governments. Big money has a lot of influence on that level and if it starts to see the bitcoin as a serious threat, we will see much more official involvement against the bitcoin. If it can influence it and to what extent is however a completely different topic.

[just_Alice]

What we can see today is increasingly invasive approach of the governments worldwide into the daily lives of it's citizens. I'm not too optimistic about the approach of the most of the governments. Big money has a lot of influence on that level and if it starts to see the bitcoin as a serious threat, we will see much more official involvement against the bitcoin. If it can influence it and to what extent is however a completely different topic.

Governments differ from country to country and in some cases their involvement is necessary. This doesn't include bitcoin which, of course, shouldn't be banned in a free society. And it won't be banned, I'm sure, in most of the civilized countries. They can start regulating it, yes, but they can't ban it.

[Senja Kemuning]

The government can only limit the users of its citizens but in general can not limit the bitcoin because everyone when there is internet access can use bitcoin. I think bitcoin is a good thing but why government banned bitcoin?

[Rhum142]

Cryptocurrencies are decentralized products traded largely on centralized exchanges. Cryptocurrency proponents note that an advantage of cryptocurrencies like bitcoin and litecoin is that reliance on or trust in a third party is not required to transact. Centralized exchanges, however, themselves may make it hard to open an account or may place restrictions or ban the withdrawing of funds or cryptos. Centralized exchanges can also be be hacked or closed by governments. Thus, centralized exchanges may run counter to one of the advantages of transacting in cryptocurrencies

[senne]

Government can't ban Bitcoin completely because people will always find some ways to do transactions through bitcoin. But if Bitcoin is termed illegal then it could quite difficult because then it cannot be converted into local currencies, hence no use for the citizens of that countries. Then if they want to use their stored their Bitcoin the only possible way I can see is that shifting to a country where it is legal and then converting into Local currency