Can Governments Kill Bitcoin?

[gogrowglow]

Government cannot control Bitcoin because it is decentralized.  They have no way to  penpoint anyone who must be responsible of Bitcoin.  For now they cannot taxed it, they have no way tracking people to be taxed of their income in Bitcoin, so it is impossible for them to put and end to Bitcoin.

[maurobiasolo]

Yes. Government can kill the bitcoin. In india  the government announced that all the banks are stop all the transaction related to crypto.so Indian government try to kill the Bitcoin.

Well, they can easily open a bank account abroad and send the money there: maybe government will stop cheap investors  but medium/large can't be easily stopped

[maurobiasolo]

If they will find a way to tax the related economic activities, they will stop any plan of killing it 

[khelan]

Yes they can,as in india rbi cutoff the money supply for buying bitcoin and other crypto currency there is huge impact on indian market due to this government action. if all other county also take such actions against bitcoin then there is possibility that bitcoin will die. so there is need to be regularized this currancy and ico so that people will buy and use crypto so that these currency stay alive.

[Josiah Dave Leonor]

Government everywhere do the bad job of it and What I worry about is governments shutting down the exchanges that convert bitcoin to local currency. They can forbid bitcoin to work and Bitcoin is banned by the government but there are many investors involved in these currencies.They will not replace it with another crypto. And that's all i know

[orarider]

this can happen. Governments can inhibit bitcoin development. They can forbid bitcoin operations in their country. The big countries like China, China do not want the development of copper bitcoin. They do not allow people to use bitcoin. They are releasing their country's digital currency to fight bitcoin.

[Mofoblitz]

They cannot kill it because it is on the internet and nothing on the internet ever really dies. They can just place bans on it and make it impossible to cash out to fiat.

[Ray55]

Many countries have there own digital currency.  They didn't want to take lose for there own . So the want to kill or stop using bitcoin.  But it is not possible  because many people  in the world use bitcoin for there earning and daily needs.so government can't kill bitcoin.

[trang1188]

maybe yes,if all government ban crypto and stop all website about cryto,the market will die but i think government want control crypto than killing crypto

[putrisa]

The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.

What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?

I think bitcoin will never be controlled by the government because of the very little bitcoin supply but the very high bitcoin demand that everyone in the world wants bitcoin and all can have it but will never be able to control the bitcoin circulation.

[Fasdartin]

Yes. Government can kill the bitcoin. In india  the government announced that all the banks are stop all the transaction related to crypto.so Indian government try to kill the Bitcoin.

Well, they can easily open a bank account abroad and send the money there: maybe government will stop cheap investors  but medium/large can't be easily stopped

Government cant kill bitcoin, because bitcoin is decentralized, it cannot be controlled by anyone. They want to kill bitcoin because bitcoin have potentials, and they think that bitcoin might be their greatest competition in the future. And also because bitcoin can be used in illegal transaction, like buying of illegal drugs, and trading of illegal things, etc., anonymously.

[Gayolues98]

it could happen but I feel it will be very difficult because the one using bitcoin not only from one country but in the whole world and with its very much bitcoin enthusiasts at this time then it's in my opinion will be very difficult and takes a long time to kill bitcoin.

[will777]

I dont think so but  government can kill bitcoin maybe someday because in other country they ban bitcoin. But all i need to do is enjoy using bitcoin and just Ignored it.

[Eijrafarm]

The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.

What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?

I don't think so but there is a possibility that this can affect bitcoin price. The more those larger country act and involve their country towards bitcoin is a bad sign for bitcoin's market. This could act as a threat for investors.

[yanlap]

I don't think any government can totally kill Bitcoin but they can hamper it's growth or even reduce its value. They'd do this through two mechanisms: legality and bank regulation. Banning bitcoin would remove a lot of the 'honest' investors and thus reduce the value; it'd push bitcoin into the fringes. For instance, big investors and even institutional investors would be forced to cash out into fiat.

The big hammer governments have is through banking regulation; imagine if governments around the world forced banks to sever any connection to institutions that purchase bitcoin, such as Coinbase. If Coinbase couldn't receive fiat from banks that'd dramatically push purchasers away. The only way to get bitcoin would be peer-to-peer transactions.

Together these would dramatically lower the value of bitcoin and to me are the biggest threat to long term value storage. If neither of these happen then Bitcoin will just continue to climb in value.

Bitcoin does not come under anyone control and it is really not influenced too much by the actions of any sort of authority. It has been on its own since ever. At most, any decision against bitcoin can slow its progress down for few days and that is not near to the efforts people put in bringing bitcoin down. If you ask me, such governments are just wasting their time here.

[Botude23]

The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.

What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?

Yes, Government can do that by not allowing use cryptocurrency but Government cant make their own coin to use by the people because that is decentralized

[ardibimbim]

Many developed countries want to create their own digital currency, and it is legitimate but requires a long and time-consuming process for one country to apply its own digital money, but to kill bitcoin is impossible, because the development of digital currency the world today can not afford without the presence of bitcoin in every country.

[marabanda]

Difficult question. However, I believe that there is no sooner than yes. With a high probability, the future for crypto-currencies, and progress as you know, can only be slowed down, but it will not stop. However, this does not mean that the government will not interfere in any way with the development of bitcoins and other crypts.

[tuliobrothers]

Shut down the internet connection,by that,  the government can stop or kill right away the transaction of bitcoin. That is the only way they can stop the operation of digital currency.

[Roman Coinson]

Of course, they can kill bitcoin!!Why? Just buy more than 50% of all bitcoins) After that they will absolutely control it)