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Author Topic: If the powerful governments wanted to, do you think they could stop Bitcoin?  (Read 4853 times)
BitHerring
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November 19, 2017, 07:14:56 AM
 #241

With the help of the law they can. It is enough for them to issue a law prohibiting trade and any operations with bitcoin, after which all the people working in this sphere can start looking for a new job Cry Angry

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Gumpfire
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November 19, 2017, 08:04:09 AM
 #242

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?
Yes i truly believe the government could kill bitcoin because they are powerful that they can command to shutdown bitcoin and they are the one's who makes the law, so i hope they will never do that because we cannot do anything if bitcoin is already killed by the government.
carlisle1
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November 19, 2017, 08:25:48 AM
 #243

They won't be able to 100% stop it. As you see we already should pass a lot of steps of verification on all exchanges to exchange our bitcoins to fiat money and thats where the governments will probably strike ( and that will hurt). In other way we still gona be able to use it like we use cash (but I don't think that any store will accept btc so  you will only deal with other people).
you might be right mate they can maybe stop partly but not the entire community,unless they are willing to kill the internet so people would have no access to the forum or site.by then crypto will be stopped specially bitcoin and the whole community
Omega Weapon
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November 20, 2017, 12:35:44 AM
 #244

May. They can control their citizens. They can investigate the IP address access to Bitcoin sites and know who is visiting. They can block transfers and receive money from abroad without a clear purpose. If they want, they can do everything to lock Bitcoin. However, they will gradually accept Bitcoin because of the benefits it brings
If things were that easy they should have done that already, governments understand very clearly that a fight against bitcoin is impossible to win, and the more they prohibit bitcoin the more people are going to want to have it, besides they cannot ban bitcoin that easily, what grounds are they going to use to ban bitcoin? They cannot use the same grounds they use for drugs, so I think they are going to use the excuse that bitcoin is going to help money laundering.
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November 20, 2017, 12:51:57 AM
 #245

In order for governments to stop Bitcoins and other crypto currencies, it would have to do it by force. And by that I mean with a lot of gore and violence.

It won't kill it, because there are always going to be some mining it, but such gore and violence will definitely hurt the price.
supermam
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November 20, 2017, 01:35:21 AM
 #246

The government has the right to do so and we can't do nothing but to obey them because they are the one making and implementing laws if this will happen many are affected maybe they will create another one
jam22
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November 20, 2017, 05:06:18 AM
 #247

I don't think so cause billionaires, investors and maybe also the governments invests in bitcoin.

richmcrich
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November 20, 2017, 10:44:47 AM
 #248

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?
Government cannot do nothing about bitcoin. Bitcoin is decentralized and no one can stop it aside from internet. Internet is the heart of bitcoin, without this bitcoin is useless. But, we also know that no one owns internet and even government can't stop it. They might shutdown in but they cannot do it worldwide because we are now in modern world and internet is the first part of it.
It is rather unimaginable and seems impracticable that government will be successful in creating obstacles for bitcoins. Though government is authority but it is also a true fact that majority is authority. The users of bitcoin are proceeding with such a pace which seems difficult to be controlled or banned.
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November 20, 2017, 11:36:17 AM
 #249

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?

no, they will never be able to stop the circulation of bitcoin, because the bitcoin of its enthusiasts is very much, the governments will not be able to stop it very difficult, because in japanese state, america and china have formalized bitcoin as their legal payment instrument.
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November 20, 2017, 11:53:45 AM
 #250

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?

will never get the government to stop bitcoin because bitcoin is a very useful and highly wanted digital currency in everyone including in China and Japan.
Charot12345
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November 20, 2017, 12:12:10 PM
 #251

I think no,
One country ban bitcoin and it has a bad impact so if all governments in the world ban bitcoin they can stop it. But if only one country stops bitcoin it will not succeed because bitcoin has already spread to the whole world and many people are supporting it. It can generate jobs to many people, and it can help them. If the people get rich then it can be advantageous to the government then they will not consider stopping bitcoin.

lenj
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November 20, 2017, 12:18:05 PM
 #252

yes government can do it. at least most of country in the world doing the same thing to kill bitcoin.
but if just or 1 or 2 government or country doing that, i think they could not. see china has big affect in bitcoin but they could not just do it by themselves.
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November 20, 2017, 12:35:33 PM
 #253

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?
Government cannot do nothing about bitcoin. Bitcoin is decentralized and no one can stop it aside from internet. Internet is the heart of bitcoin, without this bitcoin is useless. But, we also know that no one owns internet and even government can't stop it. They might shutdown in but they cannot do it worldwide because we are now in modern world and internet is the first part of it.
Agreed! Till the time, government will not declare bitcoin as legal currency there is no way that government can interfere in such kind of things. It is because of the reason that bitcoin is decentralized in nature which makes it independent of all the rules and regulations. There is no one who can control bitcoin one way or the other. No one can actually stop bitcoin from being used.
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November 20, 2017, 12:38:26 PM
 #254

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?
I think it is possible to happen since some of the countries in the world already banned bitcoin in their place. They have the power to stop any activities that are connected to bitcoin or any other cryptocurrencies. They also have to power to legalize it if they want so it depends to the government of a certain country what will they do to bitcoin or digital currencies.
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November 20, 2017, 12:40:28 PM
 #255

No, they can shutdown sites and even jail users, but as long as there is someone hosting the nodes and mining the network, Bitcoin will continue.  Crimes had been battled by the government for a very long time but they are unable to stop it.  So my stance is, they cannot stop Bitcoin.
supermam
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November 21, 2017, 12:41:57 AM
 #256

Yes government has the right to stop Bitcoin if they want to because they are the one who makes the law and we had no right to protest against it but the government should consider that Bitcoin helps a lot to people who had no job , helps them in their financial needs, but if it's up to them if they want to.
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November 21, 2017, 01:15:29 AM
 #257

A powerful government can ban bitcoin in their country. For example the USA, if the USA ban bitcoin it could make other countries ban the bitcoin also. Since the othet countries adapt the american system. They possibly spread the ban in the world since they are the greatest country.
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November 21, 2017, 05:39:55 AM
 #258

A powerful government can ban bitcoin in their country. For example the USA, if the USA ban bitcoin it could make other countries ban the bitcoin also. Since the othet countries adapt the american system. They possibly spread the ban in the world since they are the greatest country.
I think a power full government does not stop bitcoin as a recent example of China they banned Bitcoin in their country but people use it. In other If they opposed bitcoin they will create some issue such as bane on bitcoin exchange but for life time they can’t stop it now of its popularity and the people interest of worldwide.
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November 21, 2017, 07:23:00 AM
 #259

A powerful government can ban bitcoin in their country. For example the USA, if the USA ban bitcoin it could make other countries ban the bitcoin also. Since the othet countries adapt the american system. They possibly spread the ban in the world since they are the greatest country.
I think a power full government does not stop bitcoin as a recent example of China they banned Bitcoin in their country but people use it. In other If they opposed bitcoin they will create some issue such as bane on bitcoin exchange but for life time they can’t stop it now of its popularity and the people interest of worldwide.
I agree, government cannot stop bitcoin only by ban bitcoin. They have to stop the all miners who process the bitcoin transactions, and it's hard to do. The decentralized system is very good in this case.

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November 21, 2017, 12:12:29 PM
 #260

A powerful government can ban bitcoin in their country. For example the USA, if the USA ban bitcoin it could make other countries ban the bitcoin also. Since the othet countries adapt the american system. They possibly spread the ban in the world since they are the greatest country.
I think a power full government does not stop bitcoin as a recent example of China they banned Bitcoin in their country but people use it. In other If they opposed bitcoin they will create some issue such as bane on bitcoin exchange but for life time they can’t stop it now of its popularity and the people interest of worldwide.
I agree, government cannot stop bitcoin only by ban bitcoin. They have to stop the all miners who process the bitcoin transactions, and it's hard to do. The decentralized system is very good in this case.

That's going to be quite a crackdown if governments seriously want to do it but they can. Of course governments have all the means to completey illegalize and supress bitcoin if they want to even though it may be quite umpopular to the people.

 
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