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Author Topic: If the powerful governments wanted to, do you think they could stop Bitcoin?  (Read 4609 times)
Krishan_94
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October 27, 2017, 08:01:15 AM
 #21

I dont think that they would be able because now crypto has almost spread everywhere and bitcoin is the base of all of them.. So Its a really difficult task to stop btc..
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October 27, 2017, 08:08:20 AM
 #22

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

It would be nearly impossible for Governments to kill Bitcoin, even though they could certainly cause a lot of havoc and even push bitcoin into the underground, which could cause bitcoin to become a bigger pain in the ass for them.

So in that sense governments have a bit of a dilemma regarding how much to attempt to regulate bitcoin and how oppressive they can be towards bitcoin.

There has even been a bit of cockiness from bitcoin advocates in recent years because there is a certain level of recognition that governments have already lost their opportunity to really shut bitcoin down and to nip it in the bud.  So, in that sense, the longer bitcoin is out there and acceptable, the more resources it would take to suppress it.

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October 27, 2017, 09:21:14 AM
 #23

In reality they can, but in virtual world they can’t. If the government of each country has a recommendation and approval to go against and banning cryptocurrency they can do that but they do anything to those who are well-trained or experienced computer users who can bypass any firewall that government will impose. This is actually be a worldwide cyber wars and crime simultaneously committed to oppose this king of regulations.
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October 27, 2017, 09:37:25 AM
 #24

Powerful government, like US government, can stop Bitcoin, if they switch off Blokchain network. But it is not so easy, because whole Bitcoin network operates over the world, so even for US government this can be too complicated task. Other governments, like Great Britain or Germany, can not do any steps against Bitcoin network in fact. Bitcoin have more than 200 000 daily users, so people like Bitcoin.  
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October 27, 2017, 09:46:45 AM
 #25

To stop bitcoin? no.
But some of the more powerfull goverments can have an immediate impact on the bitcoin if they announce something drastic like china that announced ICO ban, the people went into frenzy panic and bitcoin dropped like a rock.
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October 27, 2017, 09:57:37 AM
 #26

i think government could kill and stop bitcoin if they want and they can do it as fast as they can because they have unlimited source to do this. but i think the government will thinking to not stop or kill bitcoin and i think they are now is study about bitcoin, they have many questions about bitcoin and they need the answer. so they let us to still use bitcoin because they know that they can learn bitcoin from many ways and they want to see how bitcoin in future.
Agree that governmenr in all nation can stop bitcoin, they can make it if they want but instead of forcing to stop bitcoin they are now learning on how to male it better. I think all government now are seeing the good benefits brings to all people, like here in our country i know that our government are now take a step to make bitcoin legalized our central bank launch an statement that they will support decentralized currency.
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October 27, 2017, 10:01:54 AM
 #27

I do not think bitcoin will stop by the government because bitcoin is came from out of no where all people can able to mine bitcoin they can banned bitcoin if they want but they can not stop bitcoin to be popular and lots of people are continuous collecting bitcoin because we all know what can bitcoin gives to all of us. I am hoping that soon bitcoin would be our international currency and will create a physical money to spend in offline.
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October 27, 2017, 10:12:35 AM
 #28

I dont think that they would be able because now crypto has almost spread everywhere and bitcoin is the base of all of them.. So Its a really difficult task to stop btc..
yes i agree because as i know bitcoin has no relationship with goverment since bitcoin started to emerge in the market. Correct me if im wrong. In my prediction even bitcoin has a dark side i think no one can stop bitcoin because of its higher value  now adays.  And thousands of supporters  That can protect bitcoin on its journey.


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October 27, 2017, 10:20:37 AM
 #29

I don't think so...
They can't stop Bitcoin by no means. They can create a situation where people don't use Bitcoin. But Bitcoin is a virtual money which can't be used in the real market. it is only for the virtual world.
yes, there is a way of stopping it to the government, they can buy all of the Bitcoin and they can seize the whole amount of Bitcoin. but regarding this case, the government needs to spend a massive amount of money to stop Bitcoin.


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October 27, 2017, 10:45:45 AM
 #30

Theoretically, States can unite among themselves and to stifle bitcoin. It's enough to ban all exchanges and online exchangers to change cryptocurrency for Fiat. Will the country that will disagree with this, but the main countries were able to convince. It could be a trade war and even hot war, the revolution... it seems to Me that this is not happening because there is still consensus that bitcoin is destroying the global financial system.


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October 27, 2017, 10:53:37 AM
 #31

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

Governments could regulate Bitcoin to the point that it’s not worth very much. This definitely could happen and is a reason why cryptocurrencies are high risk investments. The thing that makes me believe that it won’t happen is that there are many different countries around the world and they are not going to view Bitcoin the same way. Some countries may ban Bitcoin or want to ban it, but others may embrace it. So even if a country had major regulations against Bitcoin, they can’t make other countries do the same thing. It would be like trying to ban the internet or email. A single country or group of countries can’t stop the rest of the world from using it.
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October 27, 2017, 11:13:36 AM
 #32

We can sense that the government and banking officials is now on offensive by painting cryptocurrency as a fraud/scam. But they can’t or investors never trust them because we all know about they’re own interest and profits that’s why they’re doing such move on bitcoin. With the help of internet and social media they can’t manage to stop it and that’s the truth.

The financial institutions, government and banking sectors totally know what it means for them. This is a disruptive technology that has made people wiser and opened the eye of so many to how the system have always been manipulated as a result of the greed and profit of some top people all these while.
However, they can keep trying and we will keep seeing who will win. Give the Dog a chance to let loose after a while of being tied down and then you will see how fast it can run.

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October 27, 2017, 11:51:16 AM
 #33

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

Governments could regulate Bitcoin to the point that it’s not worth very much. This definitely could happen and is a reason why cryptocurrencies are high risk investments. The thing that makes me believe that it won’t happen is that there are many different countries around the world and they are not going to view Bitcoin the same way. Some countries may ban Bitcoin or want to ban it, but others may embrace it. So even if a country had major regulations against Bitcoin, they can’t make other countries do the same thing. It would be like trying to ban the internet or email. A single country or group of countries can’t stop the rest of the world from using it.
It seems to me that the faster the government will ban bitcoin than regulating it. If America will feel from the use of bitcoin the dollar will lose its position in the world then I think they will find a way to destroy bitcoin. They can organize any terrorist attack and to announce that paid for it in bitcoins. Then ban cryptocurrencies due to the fact that they are used by terrorists. Threaten countries that do not ban bitcoin stop all trade relations. What will happen then?

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October 27, 2017, 12:03:59 PM
 #34

first thing you need to know is that why would a government want to do this? the government is not above the law, they can not force unacceptable and illogical laws upon their people. and people want bitcoin and this will only increase. not to mention that because bitcoin is global, banning bitcoin means shooting yourself in the foot!

additionally, since bitcoin is decentralized which means bitcoin is peer to peer, nobody can interfere in this. you can look at how torrents work. the government has been trying for years to fight illegal torrents aka pirating, but they have been failing miserably. and pirating is growing day by day.
bitcoin is not even illegal or immoral thing like pirating. it is like torrenting Ubuntu for example.














 

 

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October 27, 2017, 12:05:00 PM
 #35

I do not think that governments or any other power could kill bitcoin, what they could do however is severely damage it and cause many difficulties and set backs, I feel that eventually we will reach the stage where either that happens or they accept bitcoin and it will become the new supercurrency across the world.

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October 27, 2017, 12:12:38 PM
 #36

Imo they can't stop bitcoin and most of all they can't kill it. For example, let's compare btc to drugs(just exampe), no matter how powerful a country is, still they cant stop drug trade and so is btc which isn't illegal. They could just slow us down in achieving a higher price if they will try do it.

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October 27, 2017, 12:27:51 PM
 #37

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

A big yes because if they really want to they can declare an all out war on bitcoin and impose a law that prohibiting to engage in bitcoin that anyone will be caught will be dealt accordingly and punishable of death. Do you think you can still continue to engage in bitcoin specially that if your life will be a concern? I think not therefore government can stop bitcoin but with a brute force.

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October 27, 2017, 12:40:27 PM
 #38

Imo they can't stop bitcoin and most of all they can't kill it. For example, let's compare btc to drugs(just exampe), no matter how powerful a country is, still they cant stop drug trade and so is btc which isn't illegal. They could just slow us down in achieving a higher price if they will try do it.
They cant really stop bitcoin completely.I agree on the thing you do say they might able to slow down the progress or adoption but not completely to stop it no matter how powerful they are.Accepting the fact that not all countries would really have the same view into bitcoin.They might see negative things on most of them but there are countries would really able to see the usage of it and wouldnt tend to ban it but rather legalize it.If you would able to see on the things that they are doing now even on China.They fail to do such thing.


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October 27, 2017, 12:47:36 PM
 #39

Imo they can't stop bitcoin and most of all they can't kill it. For example, let's compare btc to drugs(just exampe), no matter how powerful a country is, still they cant stop drug trade and so is btc which isn't illegal. They could just slow us down in achieving a higher price if they will try do it.
They cant really stop bitcoin completely.I agree on the thing you do say they might able to slow down the progress or adoption but not completely to stop it no matter how powerful they are.Accepting the fact that not all countries would really have the same view into bitcoin.They might see negative things on most of them but there are countries would really able to see the usage of it and wouldnt tend to ban it but rather legalize it.If you would able to see on the things that they are doing now even on China.They fail to do such thing.
IT might be true that they cannot stop the bitcoin completely, but if some of the major ones do take some serious actions that would ahve a great impact on it, say for exemple china if thye ban it than the price will fall down since they have a great cut of the total of bitcoin users, and investors and major companies will stop investing in bitcoin because they don't want to risk their bussines, another way that they could stop it is by taxing it, it may not have a major impact but it would defently cause the prices to go down a lot.


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hildacitra
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October 27, 2017, 12:50:51 PM
 #40

I don't think government can stop bitcoin. they cannot control bitcoin, how could they kill it? they might be able to ban it in their country as like china do so, but they cannot ban bitcoin in other countries as well or even the whole world. if they wanna do so, they have to buy all bitcoins until all bitcoin users do not have any bitcoin anymore. so there will not anybody who will do transaction dealing with bitcoin. and it will slowly disappear.

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