|
a4techer
|
 |
October 28, 2017, 01:08:40 AM |
|
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?
Even the government official wanted to stop bitcoin i sure they cant do that because bitcoin is not for one country entire world know bitcoin so that they cant stop the spreading the knowledge and all about bitcoin absolutely right now continuously increasing the value of bitcoin so that no one can stop bitcoin. |
|
|
|
|
|
|
|
|
|
"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
|
jekjekman
|
|
October 28, 2017, 02:18:44 AM |
|
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?
Definitely if they want to stop it they can. Yes they can't declare bitcoin as illegal without any basis but what government can do is regulate the use of it which may cause for people to stop patronizing bitcoin since it will just be another centralized currency. Another thing that government can do is they can declare mining as illegal which may cause to the stop on processing of the transactions for the coin and will eventually cause to people stop using it. |
|
|
|
|
Swopon
Copper Member
Full Member
 Offline
Activity: 700
Merit: 120
Gamdom
|
|
October 28, 2017, 02:25:19 AM |
|
They can declare bitcoin as a illegal but they can't stop bitcoin.Because the more day will come the more bitcoin will be popular.If they really want to stop bitcoin they should buy 21 million bitcoin which they can't do in their total lifetime
|
|
|
|
|
olushakes
|
|
October 28, 2017, 02:30:58 AM |
|
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?
All this could happen and yes they can go that extreme but the issue is that in as much has government wants to exercise it's power, they need a reason to back whatever decision they would be taking and because every government in the powerful countries operate with some freedom for it's citizen, it becomes difficult to go that extreme as it would mean punishing some set of people who prefer to see new ways of doing things and not even hiding it because they have no ulterior motive to doing that. |
|
|
|
|
|
romecheo
|
|
October 28, 2017, 03:06:08 AM |
|
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 and Banks are having there own agenda on suppressing Bitcoin. What every they planned or how strong may they be, they can only slow down the progress and development of Bitcoin, however, they cannot stop Bitcoin. This is not the first time that strong and big country tried to stop Bitcoin. but they all failed. |
|
|
|
cpfreeplz
Legendary
Offline
Activity: 966
Merit: 1042
|
|
October 28, 2017, 03:13:39 AM |
|
If every country really started cracking down, sure bitcoins would be put into a choke hold VUT that's not going to happen because so many cou tries fully support it. Even if bitcoins where a japan only currency, they would still hold huge value. Keep them no matter what happens in your county.
|
|
|
|
|
squatz1 (OP)
Legendary
Offline
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
|
|
October 28, 2017, 03:34:06 AM |
|
They couldn't kill it completely, but they can prevent mass adoption by simply outlawing it. Most people wouldn't risk getting fined or imprisoned just to use an alternative payment system, so Bitcoin community wouldn't be able to grow to any significant size. And the second problem is mining - right now it's relatively centralized and draws huge amounts of electricity - together it makes it easy to shut it down. Without mining Bitcoin's price can't freely grow, because mining protects the network from double-spending attacks, so when hashrate is low the network becomes less secure, meaning it's cheaper to attack it, so it can't sustain above certain amounts of value.
Well this is my thinking, I'm not saying Bitcoin would die completely and lose the dedicated user base that it has built so far. I just think that it would not be able to grow and stuck here, as what it is today, if governments decided that's what they wanted to happen. A lot of people on this forum don't understand, or try to understate the amount of power that the government really holds. If every country really started cracking down, sure bitcoins would be put into a choke hold VUT that's not going to happen because so many cou tries fully support it. Even if bitcoins where a japan only currency, they would still hold huge value. Keep them no matter what happens in your county.
Ok this isn't true, no country supports Bitcoin. |
|
|
|
|
UchihaRukawa
|
|
October 28, 2017, 03:42:37 AM |
|
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 there is nothing that the government can't do, if they wanted war, they could easily get it, if they wanted change, they could easily do it, so if they wanted to stop bitcoin and the cryptocurrency, I think its gonna be easy for them. There are people who are gonna do against them, but I think, they will win, unless they see something in bitcoin that could benefit them. |
|
|
|
|
Indrawan77
|
|
October 28, 2017, 04:22:54 AM |
|
Actually government has the power to eliminate bitcoin if all of the governments agree to banned it together, it's mean that all country must banned bitcoin then bitcoin will slowly die, one government banning wont effect anything on bitcoin there are so many ways to bypass the banning and bitcoin has helped some people to have a better life and decreasing unemployment rate, so some of the government won't stop bitcoin
|
|
|
|
|
|
cafucafucafu
|
|
October 28, 2017, 04:29:20 AM |
|
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?
They could definitely disrupt a lot of the norms for bitcoin trading, for example they could pressure exchanges to shut down or even censor bitcoin related sites. China is a primary example of this happening right now, so it is possible. However, let's get this clear. Not all countries are going to ban bitcoin, even if they ban bitcoin, the network will still thrive, and businesses will just move to countries where bitcoin has been legalized such as Japan. |
|
|
|
|
Bestpromoter
|
|
October 28, 2017, 06:42:04 AM |
|
some of the people here are getting the right answer but me i don't really have the right answer because for me the bitcoin cryptocurrencies is tallied in the internet, what i mean is if there is internet there will be bitcoin, they can't stop it unless they shut the internet.
|
|
|
|
|
waynechong1995
Full Member
Offline
Activity: 644
Merit: 117
swing!
|
|
October 28, 2017, 08:13:22 AM |
|
With ease i believe, but on the public scale only. This means public conference/meeting regarding cryptocurrency would be restricted to a point where prices or related activities went underground again. Still the blockchain technology would persist as there are not geographically limited, new coins would grow. Passing a law which disallow citizen to own bitcoins is unlikely though as that is really unhelpful in anyway as it's not like the entire world would follow. Exterminating Bitcoin existence is laughable though, maybe banning national ISP would help in this context.
|
|
|
|
Ilegendph
Full Member
Offline
Activity: 434
Merit: 103
Thinking on the higher plane of existence.
|
|
October 28, 2017, 08:14:08 AM |
|
Actually government has the power to eliminate bitcoin if all of the governments agree to banned it together, it's mean that all country must banned bitcoin then bitcoin will slowly die, one government banning wont effect anything on bitcoin there are so many ways to bypass the banning and bitcoin has helped some people to have a better life and decreasing unemployment rate, so some of the government won't stop bitcoin
But not all the government of every nation have the same sentiment about bitcoin, for example Indonesia warns its citizen to stay away to cryptocurrency while Japan embrace it and it promotes to its citizen that they should accept bitcoin. So , I doubt that bitcoin would be totally eliminate, and I think if the second example is done by other nations, the countries that have negative impression about bitcoin would change their mind. |
|
|
|
|
Skyshark
|
|
October 28, 2017, 08:36:28 AM |
|
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 the government could really do whatever they want, if they want to stop bitcoin then they could do it. Government is just so powerful that they could be anywhere, any business, any people's life as long as they would want to. So I guess stopping the bitcoin would be the same for them, its gonna be as the way they want it to be. |
|
|
|
|
fanbeila
|
|
October 28, 2017, 08:45:26 AM |
|
They would not be able to globally control ,ban or regulate bitcoin.Not all countries would agree to do so.Here,japan supports and adopts bitcoin and china takes stand against bitcoin and wants to stop its progress within the country.
The only thing that they could do is imply strict regulations on exchanges,asking them to strictly follow KYC and further imply rules so that exchanges itself would feel very hard to survive and close them by themselves.
But the bitter truth is that bitcoin would survive in other parts of the world and would continue to progress.
|
|
|
|
|
aizen10
|
|
October 28, 2017, 10:34:48 AM |
|
i think even the most powerful government with banks alliance will not stop bitcoin, because they cant stop the flow and influence of this bitcoin in most of people in the world that gets involve in this investment project, as we can see now, more article and blogs that against or has a negative content about bitcoin are spreading all over the net, but who cares? if all of us (bitcoin holder) continue believing and supporting bitcoin, no one can stop bitcoin even the most powerful government had a power to stop this success.
|
|
|
|
|
Netnox
Legendary
Offline
Activity: 2044
Merit: 1008
|
|
October 28, 2017, 10:44:17 AM |
|
Governments can do a lot of harm to Bitcoin usage, if they want. For example, if they are interested then they can order the exchanges to be closed down (including Localbitcoins). They can make the possession of Bitcoins a criminal offense. It may be very difficult to trace down the coins to individuals, but with adequate effort the authorities can trace a few individuals and then they can publicize their case to scare others.
|
|
|
|
|
|
fasdorcas
|
|
October 28, 2017, 10:55:26 AM |
|
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?
You just made a funny comment by saying the government can’t ban Bitcoin. Well, maybe I should let you know that they can destroy Bitcoin completely and not even talk about banning it, cause banning Bitcoin means it will just not be used in some countries. What did I say, Destroy? Yes they can destroy. They can target the bigger wallets owned by big investors and Destroy them making all go bankrupt. They can do so by tracing it through the addresses. Ask me how? Then I will tell you to head to Google and make some research cause Google is a good friend of yours. |
|
|
|
|
|
ASHLIUSZ
|
|
October 28, 2017, 11:07:42 AM |
|
Even if the governments as a whole unite similar to the European Union it can make changes or regulations in the usage of cryptocurrency. But at any point they cannot stop bitcoin usage around the world. Even in the past, when certain countries banned bitcoin people still used it through some other way.
|
|
|
|
|
|
gabmen
|
|
October 28, 2017, 11:32:52 AM |
|
We know, government is very powerful for every country.But we know, Bitcoin is now a dominating position. So, government stop bitcoin, but not totally. we know, China stopped bitcoin, but now it is no problem that.One day, China will support the bitcoin, because bitcoin will a modern or digital currency, which is so good for any country.
Well if powerful governments put time into it, i think they can. Governments can pretty much have control over whatever they want and that's right under our noses. Though i don't think tbat's going to happen with bitcoin since it's going to be beneficial for everyone in the long run |
Report to moderator . ██████████. .████████████████. .██████████████████████. -█████████████████████████████ .██████████████████████████████████. -█████████████████████████████████████████ -███████████████████████████████████████████████ .-█████████████████████████████████████████████████████. .████████████████████████████████████████████████████████████ .██████████████████████████████████████████████████████████████. .██████████████████████████████████████████████████████████████. ..███████████████████████████████ |
|
|
|
