Could the Federal Reserve kill Bitcoin?

[PointHope]

My only big worry about bitcoin:

The Federal Reserve; the people who own the US government(and the mightiest military), have much to loose when bitcoin goes global mainstream.
We are starting to see some possible tactics with recent statements by fraudster fed associate Jamie Dimon.

Asside from turning off the internet what else are these thieving pricks likely to do?

[valentin68]

The federal reserve compared to bitcoin is like a big elephant compared to an ant.  To destroy the bitcoin there would be necesary some laws form the government, but becasue bitcoin is good for the economy of the world this is not going to happen. So the answer is yes, the Federal Reserve could do this but it wont.
If you were an elephant would you destroy an ant?

[TheQuin]

The Federal Reserve really are not concerned about Bitcoin yet. They still see it as too insignificant to be any threat to them. If they ever do become concerned it will be far too late at that stage for them to do anything about it.

[TheGodson]

The answer is yes. People after me will probably flood the thread with statements about how they can't and what not. In reality, they can. There is no telling what will happen in the future. Will big banks back bitcoin, or will they turn on it.

There is an interesting concept here. If one country bans bitcoin and others don't then that country could be left in the dark. On the other hand, if a lot of countries start banning bitcoin together then they could destroy its value.

[cengsuwuei]

My only big worry about bitcoin:

The Federal Reserve; the people who own the US government(and the mightiest military), have much to loose when bitcoin goes global mainstream.
We are starting to see some possible tactics with recent statements by fraudster fed associate Jamie Dimon.

Asside from turning off the internet what else are these thieving pricks likely to do?

internet can't die
but if US goverment want bitcoin die is easy, same with liberty reserve , SEC kill and close liberty reserve

if US goverment with SEC say bitcoin ilegal, same with liberty reserve, US goverment can close all exchanger in the world

[Marileno]

The more popular BTC gets, the more incentive the fed will have to act. I have no doubt this will eventually happen and jamie Dimon agrees with me

[wildet60]

Printing US dollar buying bitcoin and reserving as much as they can.

But then another altcoin will take bitcoin's place. The cycle will continue. Feds can try but I don't think they can.

[exstasie]

My only big worry about bitcoin:

The Federal Reserve; the people who own the US government(and the mightiest military), have much to loose when bitcoin goes global mainstream.
We are starting to see some possible tactics with recent statements by fraudster fed associate Jamie Dimon.

Aside from turning off the internet what else are these thieving pricks likely to do?

Nobody, including the Federal Reserve, can kill Bitcoin. Sure, the powers that be could shut down exchanges and ban possession of cryptocurrencies. They could actively ban the P2P network and crack down on VPN/TOR servers. They could even snip some wires and take down internet infrastructure.

But at the end of the day, different governments are competing with one another. There are upsides to Bitcoin: a new asset class (to pump up with printed money), lots of taxable revenue once it's regulated, and the ledger is even transparent and traceable. Some governments will embrace it, even if others try to prohibit it. Where it's prohibited, there will be a black market. Under these conditions, Bitcoin could still thrive.

[Risktaker31]

We all know what bitcoin can do thats why may people is interested on it. I think federal reserve can kill bitcoin if it want too but they will need alot of law just to stop bitcoin because bitcoins industry is big now.

[countryfree]

The Federal Reserve cannot do anything to BTC.
Only the US government can hurt BTC by regulating exchanges, and forcing US taxpayers to declare all their cryptocurrencies holdings.

[bajing]

I'm sure, (the Federal Reserve; the people who own the US government) no have problem with bitcoin may be one of their members any using bitcoin. we never know about it, the only thing that can ban or kill bitcoin is the American government.

[LeGaulois]

The Federal Reserve really are not concerned about Bitcoin yet. They still see it as too insignificant to be any threat to them. If they ever do become concerned it will be far too late at that stage for them to do anything about it.

Not so much insignificant since the FED sent a warning about digital currencies, not long ago. Some of its arguments were about security and privacy issues (https://www.federalreserve.gov/newsevents/speech/powell20170303a.htm).
If they were not concerned you couldn' see laws, regulations, etc about bitcoin exchanges, ICO etc. They wouldn' not even publish a 39 pages PDF about Bicoin

[Wind_FURY]

My only big worry about bitcoin:

The Federal Reserve; the people who own the US government(and the mightiest military), have much to loose when bitcoin goes global mainstream.
We are starting to see some possible tactics with recent statements by fraudster fed associate Jamie Dimon.

Asside from turning off the internet what else are these thieving pricks likely to do?

They have to take down each node around the world, which is impossible to do. Decentralized "financial" systems like Bitcoin are going to be hard to stop as long as there are a good number of users supporting it. When I say support I mean node maintainers who do it without any expectations of payment for their service on the network.

[PointHope]

The Federal Reserve really are not concerned about Bitcoin yet. They still see it as too insignificant to be any threat to them. If they ever do become concerned it will be far too late at that stage for them to do anything about it.

Not so much insignificant since the FED sent a warning about digital currencies, not long ago. Some of its arguments were about security and privacy issues (https://www.federalreserve.gov/newsevents/speech/powell20170303a.htm).
If they were not concerned you couldn' see laws, regulations, etc about bitcoin exchanges, ICO etc. They wouldn' not even publish a 39 pages PDF about Bicoin

 Very interesting article, and all the other comments good food for thought.

Bitcoin, and the other main crypo do seem to be the vehicles whicn will usher in this evolution of blockchain.
So yea it does seem unlikely the FED would cut the feet off of the vehicle of the future of commerce and currencies.

Cheers

[ivrynx]

Federal reserve is not in the us constitution, it is a private bank, i think we should need to go back into our history lessons. The federal bank is also run by bankers, if i am not mistaken the rothschilds also holds the federal bank, and as we all know, thr rothschilds already bought their shares of bitcoins, why would they want to destroy something that they had already invested on. As of now, we are not hearing from the federal bank, probably because its owners are also investing in bitcoin, the federal bank may just continue on printing out money, and we may never hear from them, unlike other countries, their banks are in their constitution to print money, and that is the government's bank, so whatever they say will have an impact, just like what jpmorgan did, whatever they say will have an impact since they once paid the national debt of the us, in order to save it from poverty, the federal reserve has nothing to with it, but in any case the federal reserve made a statement, it will only be wise to watch and listen what will happen next, but one thing is for sure, it cannot kill bitcoin, what they can do is just bad mouth bitcoin.

[DoublerHunter]

They can kill bitcoin if they will ask the governments in different parts of the world to completely ban bitcoin because if they will ban bitcoin then it will become impossible for bitcoin to receive demands and also get transactions from people and since demand is one of the major foundation of the life of bitcoin so it is easy for bitcoin to die.

[nappoleon]

They might kill bitcoin but the idea is already out there. They can't kill an idea. If they shutdown the internet, a new one will always emerge and always find a way, as market dictates. Take meshnet for example.

[pawanjain]

They can kill bitcoin if they will ask the governments in different parts of the world to completely ban bitcoin because if they will ban bitcoin then it will become impossible for bitcoin to receive demands and also get transactions from people and since demand is one of the major foundation of the life of bitcoin so it is easy for bitcoin to die.

Exactly !! One could not just kill bitcoin. Since bitcoin is not backed by any government or an individual it is very tough for anybody to completely disable bitcoin transactions. Unless every government bans bitcoin completely , it is not possible for anybody to kill bitcoin. I don't find any reason for the federal reserve to kill bitcoin because they are the one's who are making profit in some way since we need fiat to convert it into bitcoin.
So bitcoin will be there, now and forever.

[dreamer81]

Yes they could indeed. Any country could kill bitcoin. It would just be too expensive to justify the result. It's very easy to buy 51% of the network mining power, if you have trillions, and the FED does that. But they still think bitcoin is a gimmick, so they wont spend money on it (yet)

[VanDeinsberg12]

They likely could, don't know how much exactly the federal reserve's power could extend around the world but if they just could affect this world and making governments forcefully restrict the usage of bitcoin or forbid it, then bitcoin would be doomed.
many people thinks that bitcoin will never could be defeated by any instituion or government but they might be wrong.