Can Governments Kill Bitcoin?

[buitp7]

Bitcoin is a famously dececentralized cryptocurrency, a system of storing value, and a somewhat less-effective transaction medium. It allows near-instantaneous transfers all over the world without a middle man or regulatory body giving it the go-ahead. Fans of cryptocurrency fear government regulation could ruin it, but they shouldn’t be concerned. Any attempt control bitcoin simply won’t work.

Beyond the difficulties presented by the decentralization of bitcoin itself, governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex. As governments struggle to ban technologies like Tor and encryption, it seems impossible to imagine them gaining the ability to truly impact bitcoin – and its alt-coin contemporaries – in a way that could impede its progress.

If the government really wants to prohibit Bitcoin, Bitcoin will not develop. However, Bitcoin has been active, indicating that the existence of Bitcoin can, to a certain extent, promote the economic development of a country.

[rrrrr96]

It is quite possible that this is a conspiracy because they cannot control bitcoin, and why it is not necessary to develop bitcoin that has matured and then redevelop a new cryptocurrency. It can only be said that the government has already felt Bitcoin’s Threatened.

[GoldnOil]

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?

na! I don't think that any right minded govt will do that... instead they will try to adapt the tech for streamlining their own business affairs on how to run the govt more efficiently...   

And I no where see it a threat to the Govt or matter of fact for banks also its not a threat. example is of Ripple. which is helping banks to have another feature or channel in payment settlement. 

The govt would like to regulate and thats good thing as it will bring more transparency and safety for people funds; and more people can then invest.  Even big Investors will then take BTC seriously...

[Jcabudx]

Government can't kill bitcoin because they didn't know who was the owner of this. They just can ban this site but users will make a way to use bitcoin.

[rommelo24]

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?

They can crashed bitcoin but they can never kill it. Bitcoin is like freedom because we can own it if we want without the control of government. Killing bitcoin will also mean killing our freedom.

[mornabo]

Speculation is after all speculation, but unless the government offer an improvement on Bitcoin then why would this be a threat to Bitcoin? If it's improved on Bitcoin then why would we be hostile to this crypocurrency? If the government came out with an improved cryptocurrency which was open source and decentralized then I for one welcome the change. Would probably change my mind of the way governments think if they actually did this. If it's not decentralized or open source then it should fail.

I think when the government tried to cooperate with cryptocurrency. surely they want full control of cryptocurrency, user data, their money amount and so on. so there is no decentralization in cryptocurrency again, because this is a lot of users are still cons and the government also seems still confused how to control cryptocurrency, so all they can do is threat to bitcoin

[Qartersa]

Governments cannot kill Bitcoin because the latter is independent of them. At best, they can only regulate it but still to only a certain extent.

You should know that Bitcoin knows no boundaries nor territories. It was created to substantially address the issue on borders, bank and government requirements, privacy, among others. Hence, even with the issuance of digital currencies by governments worldwide, it cannot affect Bitcoin because the former is one that is regulated by central banks. Meaning, all transactions are carefully monitored because it is expected to be transparent for the greater good and thereby subject to the lawful order of governments. While in Bitcoin, it is the opposite for some obvious reasons. Its transactions can hardly be regulated because it utilizes blockchain technology that is heavily encrypted. Thus, it is not transparent. More so, those who deal with Bitcoins cannot be identified because they are given leeway to use pseudonyms.

So you see, how can digital currencies kill Bitcoin when both have different offers?

[reda]

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?

They can crashed bitcoin but they can never kill it. Bitcoin is like freedom because we can own it if we want without the control of government. Killing bitcoin will also mean killing our freedom.

Yes. No one can stop and kill the bitcoin. It freedom future digital currency. So it easy to reach the all country people. It good opportunity for the people future growth and improve knowledge. Market places is important for the reach the all country people. But bitcoin price is any time to change. So it not easy to guess the price. If need for coin price information check the price in the market place. This information help to time to sell,buy and invest for the future growth.

[Borisov]

In theory, the government can do that. but do they need it? Yes, some are trying to release their own cryptocurrency, but you need to understand that it will not be as popular as bitcoin. It is more profitable for the government to tax income than to ban it.

[worldinvestico]

Probably, they can! But I don't think that it's reasonable

[Markyway88]

In your opinion, I think the term used in your topic must not be killed but replace. Yes, government can replace the bitcoin. If the world government will ban the bitcoin and use a new coin made by the government then it is possible to beat the bitcoin. We know that bitcoin can be a threat in the government and probably, government always plan to eliminate the bitcoin.

[Ronni]

Of course, government can kill bitcoin because they are the one who hold a country, they are the one who controls the people and also they are the one who implement laws. Once that they command people to stop using the internet then there will be no usage of it, if they demanded a law ordering to ban bitcoin, then it may happen. A government is strong enough to stop bitcoin because they are the one whom people obeys, they are also the one who can say stop to all the people who are using bitcoin.

[Rupok]

I think it will not be so easy to kill Bitcoin.In many countries,the government has not accepted Bitcoin. But Bitcoin has not killed. I think Bitcoin helps in improving for a country.So government will not kill Bitcoin.

[jpurusa]

Actually government has an authority to do that because of his power. But it seems impossible in the near future.why ?. Decentralized system used in  it's operation makes it difficult even impossible to kill or ban fully. Mostly people are interested in and support bitcoin strongly including it,s blockchain technology.

[Cakalasia]

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 it's possible to be happen, bitcoin is not easy to kill and it's hard to replace with other digital currency.

[kotajikikox]

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 even china or any other country makes own digital currency, i believe bitcoin continue to be strong as first decentralized crypto currency,every country have an own rights to make what they want for their country. and i do not believe on that way bitcoin die.

[FlightyPouch]

Government can't kill bitcoin because they didn't know who was the owner of this. They just can ban this site but users will make a way to use bitcoin.

They know or might not know who is the owner of bitcoin but the fact is no one is owning bitcoin, bitcoin is being used by people and no one is controlling nor owning them. There is no way that they will "kill" bitcoin even if they ban it since they will only be banning bitcoin in their country unable to use bitcoin in their country but the people there can still use bitcoin online.

[Sar elok]

Can. The Government had the authority in taking decisions everything problem in her country. Government decisions are absolute and not bother to sue by anyone.

[engrdaver]

The government cannot kill BTC per se. It can only control the usage of internet and access to BTC trading and anything related to it. Take other countries as an example, they moderate or ban any BTC transactions, but they cannot stop or kill BTC.

[gabdel1]

That's the whole point of BTC. If you keep off exchanges that require KYC idenification, there is no way to know which wallet belongs to whom, so goverments cannot track and punish you even if they ban BTC.