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ecnalubma
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November 02, 2017, 12:31:40 PM |
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As many people says bitcoin is unstoppable and I believe that so. Whether the government like it or not, bitcoin is clearly the future of payments.
Decentralized systems is hard to eradicate it is owned by people and if the government do something to stop it people will revolt. But I don't think it will happen, even China's banning did not work and so other countries.
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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wuvdoll
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Activity: 1442
Merit: 1025
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November 02, 2017, 01:10:15 PM |
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I think they can stop bitcoin if they serious about that, you know goverment they have a power maybe they can increase the price of bitcoin and lower if they want to involved but i think bitcoin can help the economy, possible that they want to stop bitcoin.
Who are the they ? All the government worldwide ? You think some did not ? They tried! They attacked it ! They did everything possible. Do you know how much fund was lost during Mt. Gox ? But at the end, it seems bitcoin just would not listen and then it kept on going and kept becoming even more of a threat and the only thing any sane government would do now is just to legalize it for their benefit since that is what most countries are already doing. |
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naidray
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November 03, 2017, 05:38:11 AM |
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They could try by making their own version of bitcoin but it won't be enough to stop bitcoin. One way of killing bitcoin is to cut the internet access of everyone so there would be no transactions being made every second but that's unlikely to happen.
Well, internet has got past the stage where it can be cut off now as it will most definitely affect them too. Buying all bitcoin as well is already impossible and unless they are willing to wait for the remaining unmined bitcoin to keep buying, then no problem. The thing is that it is too late and even right from the onset it is a disruptive scheme that has come to stay and in as much as they did all their best to frustrate the effort, it just kept growing and I am sure they have come to realize it is better they benefit than to keep attacking now that is still possible. God bless Satoshi!  |
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n0ne
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November 03, 2017, 06:15:53 AM |
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They could try by making their own version of bitcoin but it won't be enough to stop bitcoin. One way of killing bitcoin is to cut the internet access of everyone so there would be no transactions being made every second but that's unlikely to happen.
Well, internet has got past the stage where it can be cut off now as it will most definitely affect them too. Buying all bitcoin as well is already impossible and unless they are willing to wait for the remaining unmined bitcoin to keep buying, then no problem. The thing is that it is too late and even right from the onset it is a disruptive scheme that has come to stay and in as much as they did all their best to frustrate the effort, it just kept growing and I am sure they have come to realize it is better they benefit than to keep attacking now that is still possible. God bless Satoshi! Yes, even the government who holds a lot of fiat cannot buy the entire bitcoin that has got mined as well the remaining that need to be mined. It's all about the time, governments could have never thought that bitcoin will be growing this high. Now it has gone out of hands and it's hard to demolish. It's better to make it an beneficial asset than opposing it. |
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Rajamuda
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November 03, 2017, 06:28:37 AM |
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Do you think Governments could kill Bitcoin?
Indeed, sometimes I also thinking about that, if the governments and big banks around the world cooperate, they certainly could kill of bitcoin from the face of the earth. But honestly, I personally can't be sure it will be happened or not, in my opinion the likelihood of occurr is still small, because bitcoin still really gives many benefits and advantages for many people to boost finances, overcome financial problems,etc and certainly from so many governments + all big banks in all countries will not easily decide to kill bitcoin, well certainly still consider many things. |
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Krillin61
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November 03, 2017, 06:43:28 AM |
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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?
Well in my opinion, they could not stop the bitcoin. Even though we know what is the capabilities of governmnet still it will be tough for them to stop it. And even now they can't still found out who is this satoshi nakamoto who is the creator of bitcoin. They can compete with it by just making of their own bitcoin but they cannot replace it. |
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barmutinikita
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November 03, 2017, 06:51:01 AM |
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It's not reasonably for government of one country. And it's very hard to imagine that greedy governments or banks unite in one community. Even if it may occur it will be too late i think  |
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Sallysakky
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Kawa
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November 03, 2017, 07:00:40 AM |
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They could stop, restrict exchange on fiat money and money withdrawal, so everyone would sit with Bitcoins.
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bellamae
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November 03, 2017, 09:38:48 AM |
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I think it will not happen because it recognizes bitcoin not only in a country even around the world. The government has also analyzed what bitcoin can contribute to the economy of a country even among the peoples. In addition to the fast-paced transactions the unemployed in a country are still reducing. Not like those companies with discrimination. Here in bitcoin no discrimination anyone can earn so I think the government cannot stop the bitcoin
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FrankGismo
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November 03, 2017, 09:45:39 AM |
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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?
Well in my opinion, they could not stop the bitcoin. Even though we know what is the capabilities of governmnet still it will be tough for them to stop it. And even now they can't still found out who is this satoshi nakamoto who is the creator of bitcoin. They can compete with it by just making of their own bitcoin but they cannot replace it. They can easily destroy it if they work together in every country. Bitcoin would fall to zero dollar in no time. Like months ago bitcoin fell to 3k from nearly 5k dollars. This means everything is possible. They can also destroy altcoins by banning them. Altcoins are not that strong like bitcoin. |
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hehemon
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November 03, 2017, 01:07:16 PM |
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government cannot gain tax from bitcoin since it is decentralised. China cant ban bitcoin, so how other b\governmentcan ban bitcoin. the only thing that can do to "kill" bitcoin is to buy the 21m bitcoin that are currently mined.
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lordquanta
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November 03, 2017, 02:25:38 PM |
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government cannot gain tax from bitcoin since it is decentralised. China cant ban bitcoin, so how other b\governmentcan ban bitcoin. the only thing that can do to "kill" bitcoin is to buy the 21m bitcoin that are currently mined.
Governments are collecting taxes on bitcoin and income from the bitcoin. In countries which are recognizing bitcoin or crypto currency as property will attract the property tax, whereas in countries where bitcoin is recognized as the accumulated wealth will be taxed under the wealth tax. This wealth tax is applied to the gold, silver, other precious metal and stones like diamond, ruby, perls etc etc. 21M bitcoins is not going to kill the bitcoin, in fact it is that number which has kept bitcoin users loyal to it. Because of limit on crypto coins, there is trust among the users that if tomorrow bitcoin touches a million per coin then devels wont take advantage of it by increasing more coin limit. This scarcity is the one of reason for price rise and loyalty. |
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Omega Weapon
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November 03, 2017, 02:30:29 PM |
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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?
And what makes you think they are not trying, at first they did not care bitcoin was just too small then they realized too late that bitcoin in fact had a future and they tried to kill it indirectly with bad press but they failed with that, their next option is to regulate it, but bitcoin is impossible to regulate since there is not a central figure to threaten, and at the end they are going to ban it, but in many countries where liberty is appreciated this is going to raise concerns and eventually bitcoin is going to be legalized. |
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Ekanenf
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November 03, 2017, 02:41:18 PM |
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They could stop, restrict exchange on fiat money and money withdrawal, so everyone would sit with Bitcoins.
It possible for a couple of country to do that but what about the other countries that doesn't care about bitcoin since it hasn't cause any trouble. Anyway, even if exchange on fiat has been restricted then how about a peer to peer or person to person selling and buying of it. Its possible for governments to restrict bitcoin usage but I don't it's possible to be stopped |
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Zandar
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November 03, 2017, 03:19:48 PM |
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Powerful governments can do whatever they want to, this has always been the case so it includes killing BTC if they want to. For example they can make up new laws making having BTC illegal and criminal. Meaning they can arrest and detain you as if you were in possession of lots of hard drugs. They can pass these kind of laws under the fog of that BTC is too easily used to fund terrorism, illegal activities etc. This year alone the US justice department seized tons of BTC by seizing and closing darkweb and an exchange.
Also the banks could easily destroy BTC without any help of government at all, all they have to do is forbid any exchange of BTC into real currency. If you can't pay out your BTC into your bank account then all you are left with is the option to sell it on the street like a 5$ crack dealer.
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PokerFace3
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November 03, 2017, 04:11:23 PM |
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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?
Lets go back to China. With their government's absolute power over their citizens, have we seen them use a sufficient way to kill BTC? No we havent. They can claim that they will regulate it, suppress it or kill it but in practice we havent seen anything close to it. So, no. BTC, for now, cant be killed. They tried, but they could not and they ended up coming to terms of the fact that they cannot. They are obviously trying to frustrate the efforts but at the end, it ended up sending just an empty message. These guys already know that the power is out from them and obviously why they will try to create their own crypto which no one will accept or possibly even try to push B2X on us , which we already know the truth of what is coming. They have failed and they will keep failing. |
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Paul Pogba
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November 03, 2017, 05:02:22 PM |
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The market cap coin stamp is enormous, user is global and bitcoin is decentralized so no matter how strong the government can not stop bitcoin.
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etherflyerofficial
Newbie
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November 03, 2017, 05:08:17 PM |
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Even the powerest Gov't cannot stop Bitcoin! You see China banned Bitcoin since October, and now the value of Bitcoin is growing rapidly than before!
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Nahl
Legendary
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Activity: 1652
Merit: 1000
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November 03, 2017, 05:36:43 PM |
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currently very difficult to destroy bitcoin because bitcoin users has increasing rapidlly although there are some countries attempts to banned bitcoin but they cannot prohibit their people because bitcoin is independent and there was no countries able to control bitcoin but in my point of view there is one chance if government want to destroy bitcoin they can shutting down internet connection as the prime thing for use bitcoin and if there is no internet connection bitcoin will be useless and people will stop using it but indeed impossible to shutting down internet
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Vohoanghiep
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November 03, 2017, 06:34:01 PM |
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If desired, the government could destroy Bitcoin. However, they can not ban people from using it because all account information is untrue and they will not be able to investigate the account holder. They can only adjust Bitcoin and make it more user-friendly, since they will give up Bitcoin.
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