Maybe governments can stop bitcoin after all

[madwica]

Your really mistaken to this kind of logic. It needs to tak a lot more to be able  for governments to stop bitcoin unless they shutdown the internet well that could bring bitcoin down but we all know that is very unlikely to happen cause if they do that it would be like a suicide, a very bad move, self destruction. Bitcoin has grown the number of users, merchants using it is way bigger than before and som are heavily invested. Bitcoin is unstoppable.

Correct even government not adopt bitcoin we can still access and use it but i think government not stop or ban bitcoin because it has a big help to all people in each country to get money and avoid the poverty in such country. Instead bitcoin would be legalized and imposed tax by the government to have additional income to do some project to help poor people in their country.

Now bitcoin has many investors and users i think if government wanting to stop bitcoin many people will get angry because bitcoin is one of the best source income nowadays.

[wetlight]

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 agree with you somehow OP that this is not a laughing matter and not that far from reality. It is very possible for governments to stop bitcoin but most probably governments will not do this in the near future. Even if everyone says that government could not stop bitcoin completely, that remnant of bitcoin would be only like a shitcoin or a coin with a very low value. Even if that is the case, I think this is not the time to think about it because it is not our concern for now.

By the time that the most influential countries can get together and try to ban cryptocurrency, the technology will be widely used for it to be banned!
Eventually i see many countries trying to go after the coins that really make the user anonymous, but after the Panama paper leak and nobody got to jail, it only shows that the governments don't really care about that! It is all talk! Most of the Wall Street CEOs still call the cryptocurrencies a "farce"! Blockchain is the next step in the evolution of money!!

[gamalzour]

Yes,of course,bitcoin's price faced a slight fall due to china's actions.But we should also take in to account that bitcoin recovered very soon and its now $4,153.Also,we could not expect all the countries to have the same idea as china regarding bitcoin.Even its neighbours japan,south korea,vietnam takes completely different stand about bitcoin.Most of the governments are in an idea to only welcome this innovative technology bitcoin.So,there is no such threats to be worried about.

No government can ban such a profitable and evergreen business inviting investment because no one wants to lag in development world has moved toward the digital currency and if someone ban it this mean he is refusing progress , business and profit so don’t say like this bitcoin is not in hands of governments it is in hands of investors.

[FLoving]

Government never not stoping BTC

If we see the contribution of bitcoin in order to make the economic condition of any country more stable, then we’ll be remain with no reason to support this argument. In fact, the government will take it as a very good opportunity for making the economic condition of the country better. Government will take positive steps in order to promote this usage of bitcoin.

[balakang00]

Ofcourse they can, they can make it stop because government controls all in general. They are the one who make bills and laws so if they saw a negative effect of bitcoin it surely be stopped.

[jaysabi]

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

That's because exchanges are portals between the traditional fiat world and the crypto world. While the crypto world for now largely operates in an environment devoid of regulation (for now), exchanges have one foot in each world, and the foot in the traditional world still has to deal with all the traditional regulations as far as KYC and AML prevention. As much as everyone wants to tout the decentralized nature of bitcoin and other cryptos, the truth is that it doesn't work very well without gatekeepers or points of centralization (i.e., exchanges), and at this point, people don't trust (and shouldn't!) exchanges that aren't regulated. The future is regulated, and that's not necessarily a bad thing.

[franco123]

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 they can. This is actually the biggest risk we have in investing to Bitcoin. Maybe we are over thinking if we said that they could ban Bitcoin totally. But what is most likely to happen which is also bad for the Bitcoin traders is instead of banning, the government might impose high tax on Bitcoin transactions. This will lead into a dramatic decrease of new Bitcoin investors and traders that will eventually decrease the demand and the price of value as well.

[tobs]

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 they can. This is actually the biggest risk we have in investing to Bitcoin. Maybe we are over thinking if we said that they could ban Bitcoin totally. But what is most likely to happen which is also bad for the Bitcoin traders is instead of banning, the government might impose high tax on Bitcoin transactions. This will lead into a dramatic decrease of new Bitcoin investors and traders that will eventually decrease the demand and the price of value as well.

How can government impose tax on bitcoin transactions? If people take enough precautions it's untraceable or at least unproofable that you own that wallet or have made that payment which is in fact bunch of random numbers. But I think I understand, what you mean by that, and yes if there are any laws limiting bitcoin usage, a lot of people will dump it as soon as possible and it will go back to that underground dark web only for drugs and weapons usage. Or maybe even for that illegal activity there are new and better cryptocurrencies that are focused on anonymity. So yeah, it seems like one bad decision and bitcoin is doomed. However, I think that many rich and people of power has invested in it and they won't allow for such laws to pass, I guess.

[derdk]

i dont know. botcoin can be stop by government maybe. like china banned bitcoin but im not sure people in there not use bitcoin. just for my opinion
though, government take salary from bitcoin. because bitcoin more profitable if you can use

[MiF]

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.

Some government cant ban the bitcoin directly because of advantages that they can get are more than the disadvantages but if they really do not want to support bitcoin and want to shut it down then the only chance they will have is to ban the ICO'S not the bitcoin itself  but still bitcoin will survive because they need to ban directly the trading and investing of every sites too. China did not ban the ICO (i think this is your source of speculation) but they just regulate it in which more of us are in favor for the regulations.

[Ellababes]

I guess government can't stop bitcoin, but they can be ban it in they counteif they want.

[splat44]

No one can stop bitcoin. how many times does the government shut down bitcoin? many many times right!? Bitcoin is unstopabble. Bitcoin will give growth in every country we belong. so governments should educate themselves to merge their money to blockchain.

[Sled]

No one can stop bitcoin. how many times does the government shut down bitcoin? many many times right!? Bitcoin is unstopabble. Bitcoin will give growth in every country we belong. so governments should educate themselves to merge their money to blockchain.

The government didn't shutdown even once they are just trying to regulate bitcoin but they don't shutdown bitcoin because they can't since it is decentralized. Bitcoin can be stopped by the government if they want to do it because they can create a law that will ban bitcoin to their country and they will continue doing that until there is no people will use or even mine bitcoin.

[BartS]

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.

The dump is caused by speculators and weak hands, no one that know anything about bitcoin will see a relationship between icos being banned and bitcoin, most of the icos are ETH tokens and have no relationship with bitcoin, now bitcoin is trading at the same levels as before which show to us this was nothing but a speculative dump if it was a real one the price will go down and stay down for months or years.

[Harlot]

No one can stop bitcoin. how many times does the government shut down bitcoin? many many times right!? Bitcoin is unstopabble. Bitcoin will give growth in every country we belong. so governments should educate themselves to merge their money to blockchain.

Bitcoin is by no means unstoppable. Bitcoin exist virtually and we need the internet to transact with it. And you know who controls the internet? The government, they can single-handedly issue executive orders where they command internet service providers to block of all kinds of cryptocurrency wallets in order to stop the usage of cryptocurrency in that country.

[bestluck]

No one can stop bitcoin. how many times does the government shut down bitcoin? many many times right!? Bitcoin is unstopabble. Bitcoin will give growth in every country we belong. so governments should educate themselves to merge their money to blockchain.

No government will stop it, because they know very well that bitcoin has potential to give boost to their national economy and those who will do this stupid thing they will cut off their development and they will lag in each and every field of progress and no government can do this because citizen know better than government what is best for them and what is not and bitcoin is best,

[lordquanta]

No one can stop bitcoin. how many times does the government shut down bitcoin? many many times right!? Bitcoin is unstopabble. Bitcoin will give growth in every country we belong. so governments should educate themselves to merge their money to blockchain.

No government will stop it, because they know very well that bitcoin has potential to give boost to their national economy and those who will do this stupid thing they will cut off their development and they will lag in each and every field of progress and no government can do this because citizen know better than government what is best for them and what is not and bitcoin is best,

Many countries find exact opposite situation  of what you are saying about the bitcoin giving boost to their national economy. For example, China govt purposefully devalued the value of their currency. Why was done? it was done under the impression that if yuan price remain higher then foreign investment may decrease and may go to other countries. This triggered the volunteer devaluation. However this national interest decision wrecked havoc for wealthy people from china.  These wealthy people suddenly discovered that without any loss in business, their net worth has reduced. Thus it is observed that these people turned to the some specific gambling casinos (which acts as currency exchanger ) and  crypto currency and started sending money out.

[katiecbell]

i dont know. botcoin can be stop by government maybe. like china banned bitcoin but im not sure people in there not use bitcoin. just for my opinion
though, government take salary from bitcoin. because bitcoin more profitable if you can use

Bitcoins have made it possible to urge with governments to ensure them about its advantages. And what is best about all this? You know governments know very well about what economical potential bitcoins have and how they can made their country strong financially. But the reason of their banning comes, just because of decentralized nature of bitcoins.

[Sled]

i dont know. botcoin can be stop by government maybe. like china banned bitcoin but im not sure people in there not use bitcoin. just for my opinion
though, government take salary from bitcoin. because bitcoin more profitable if you can use

Bitcoins have made it possible to urge with governments to ensure them about its advantages. And what is best about all this? You know governments know very well about what economical potential bitcoins have and how they can made their country strong financially. But the reason of their banning comes, just because of decentralized nature of bitcoins.

That is the last thing that the governments can do if they cannot stop bitcoin at all. They will just launch a law that is about banning bitcoin or any cryptocurrency that will provoke the holder of bitcoin to sell because of the bad news but i think that there will be a day where the government and bitcoin will work together and surpass all the challenges together without hate on each other.

[tengek37]

The government's regulation of bitcoin transactions should instead consider bitcoin illegal. because if indeed the government can really mean it then the country can get more income than bitcoin subsidy.