If strong countries in the world decide to stop this market. Can they do it?

[jonathan6655321]

If strong countries in the world decide to stop this market. Can they do it?
I understand the power of blockchain, but i really wonder if there is a way for REALLY strong countries to stop this market and also stop the people from trading/using it.
what do you think?

[Red-Apple]

the market yes.
bitcoin not a chance.
bitcoin trading no.

and by market i mean the centralized exchanges which should really be stopped and replaced with the decentralized versions of themselves anyways. and that is what any country can stop.
but bitcoin is a decentralized currency and as long as there are peers on the network sustaining it, bitcoin will live on. it can even be traded in a decentralized manner.

[Marileno]

There is no doubt that government will seek to regulate this space quite heavily in the future. Concerns around money laundering are paramount. Basically governments want to know as much as possible about the flow of funds to 'keep us safe'. They will use this scare tactic to push through legislation that pushes BTC underground. It is difficult to see how a BTC type product ever becomes mainstream, especially considering how unattractive it is as a method of transaction (costly and slow)

[nskendrovic]

This is the beautiful thing about Bitcoin. When you buy bitcoins you are taking away from the power of the centralized banking system which is what our current financial system revolves around. Bitcoin's system is decentralized which means nobody owns it or controls it, thus leaving room for innovation and adoption worldwide. It is unstoppable and this is why we don't see them really trying to stop it, because they don't want to make a public mistake and look bad.

[digaran]

Do you mean like they have stopped North Korea from becoming a nuclear power? like enslaving Iranians and then moving in to the country to jump hot Persian girls? powerful countries are not allies, when something could potentially weaken one of them the other ones would support it.
Crypto currencies are decentralized, a country has infrastructures, another country could attack those infrastructures to cause the most damages, crypto infrastructure is a full node, if you could find a way to bring down all of the full nodes you could stop the network, otherwise no.
Satoshi disabled the jump function for Bitcoin, that means no body could jump us like we jump the rest of the world. full stop lol.

[Komandor8957]

I think there is a way, to align the use of bitcoin and crypto currency to fraud. And then, at the first opportunity, people will be imprisoned, after 10-50 cases, no one will be particularly engaged in this. Even on the Internet anonymity is under threat and to calculate who, what and when sold has the opportunity.

[mcb5181]

One guy at work seems to think that the US government can shut down Bitcoin with the push of a button. Every time he says that I explain to him that that is impossible because the network is distributed. They would have to shut down most or all of the nodes to cripple the network even just temporarily. I don't really think that the government has a move here other than to get on board with it.

I figure the only way they could discourage people from using Bitcoin would be to use the IRS to go after people for not paying taxes on gains.

[jc89]

The only thing they can do is to hinder the exchanges in their own country which won't really hurt btc at all. Simply because they cannot influence everyone and there will always be other countries who will support btc and the whole cryptocurrency world. They cannot stop bitcoin as well as the people who are patronizing it. Seeing its potential, people will not just dump their coins just because of some petty power play pulled out by group of people who are afraid to lose a lot from income taxes.

[Flomo]

it might be possible, but on what basis do they do it? by stopping the free market from blockchain they have to have a good reason. because already many people and almost all countries use it.

[Xavofat]

What would happen:

-The price collapses extremely dramatically (at least 90% of the way down).
-The majority of people try to panic sell through P2P means and leave, never intending to come back again.
-Those who care stick around (especially the anti-government types in America and occasionally other countries), but they use mixers illegally and take further steps to protect their privacy.

If they were really adamant to get rid of BTC altogether, they would most likely try a 51% attack, which would be significantly easier because less people would be mining when the price was lower.  In that case, they may be able to manipulate unconfirmed transactions and potentially mess up BTC altogether.

However, this is almost certainly not going to happen.

[Conal Garcia]

Governments have responded differently to bitcoins, ranging from anxiety, fear, to total acceptance, although there is a difference, but all the same is the decision to behave. With Blockchain or Bitcoin and the electronic currency are calculated very carefully and seriously. If all the governments are against bitcoin, we have met the end of the world.

[Discourze]

It's very unlikely they could eliminate Bitcoin entirely.

Though new regulations are coming, there's only so much control they can actually have. Unless they somehow manage to physically stop every miner, there's very little change they can have a finite effect.

Take China, for example, they've made all ICO-related investments completely illegal, yet millions of Chinese RMB are still being invested and hundreds, if not thousands, of people are still hodling their tokens. Could the gov't find out who each of these people is and confront them, take them to jail... Maybe, but it'll take them a really long time, and most people will just go to a jurisdiction that won't be so tight on their rules.

Blockchain is the future because it needs no centralised servers to hold it, it's a free currency.

[jahn_quid]

It's not in government interests to let decentralized applications run unfettered. At the same time, I don't think there have been any full indications as of yet that any country wants to simply stop cryptocurrency or blockchain. If anything, states are trying to understand if they can centrally control it.

[Kakmakr]

Countries can target several aspects of Crypto currencies with strict regulations. <AML/KYC> We see some countries accepting Bitcoin, but they are apposed to ICOs, so they will not ban all Crypto currencies, but rather concentrate on regulating these ICOs. The Chinese government is cool with Bitcoin mining, but they concentrate on regulating the exchanges where currency are converted to their reserve currency.

It is all about money and control, so if you play by their rules, then everything will work out for you. 

[lizardbtc]

it might be possible, but on what basis do they do it? by stopping the free market from blockchain they have to have a good reason. because already many people and almost all countries use it.

I do not believe it is in their interest, because exchanges produce an income and thus pay huge amounts of taxes. When people from other countires register and verify their accounts they can collect that data from people and then track whatever else they might need. The only way some will consider this is because it may threathen their economy or whatever and then you will still have the ways to trade it since some countries wouldn't have problem with enabling people to do so.

[Sar elok]

If strong countries in the world decide to stop this market. Can they do it?
I understand the power of blockchain, but i really wonder if there is a way for REALLY strong countries to stop this market and also stop the people from trading/using it.
what do you think?

I think it allows a stronger country if the State banned the circulation of bitcoin in his country. The policy of a country depending on who its leader. If State leaders the strong countries resent the bitcoin, they will create a law banning bitcoin in his country.

[Leighton Walker]

Support from the government is very important. In recent years, the fintech industry has increasingly become "blockchain" and many laws have been enacted to encourage development. In addition to Europe, blockchain is almost a goal that Europe wants to build in order to build a system of transparency and sharing of data between markets and organizations in the region.

[saiharden]

Bitcoin is just starting its way. So far, people will be interested in him, stop him, no country can. For society, bitcoin can be a salvation.

[jhache]

All these countries cant agree to one thing currently and theres no way all these countries are going to come together and ban the crypto market. Also even if they ban it, it wont help them as crypto currencies are decentralized and what that means is that no one has control over it but everyone. So even if they ban the markets, it wont work.

[Awraawra]

If strong countries in the world decide to stop this market. Can they do it?
I understand the power of blockchain, but i really wonder if there is a way for REALLY strong countries to stop this market and also stop the people from trading/using it.
what do you think?

it is only the higher officers who can answer this question,but in my opinion if strong countries in this world decide to stop this market,well..i know that they can do it but if our force is very strong they can never do it,because we will fight for our right and if we will tell our reasons i know that they will understand us.