Can Governments Kill Bitcoin?

[dettihegedus]

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 believe nothing can kill bitcoin at this point. Governments can ban the bitcoin in their country because they see that bitcoin is a threat to the economy. For example, China issued a bitcoin ban, they wanted to kill bitcoin in their country, but the Chinese government did not do that, because the bitcoin was decentralized and had millions of users and investors. . Since then the government can only issue regulations on bitcoin that can not be completely banned. I hope that in the future the governments of large nations will accept bitcoin and facilitate the development of bitcoin further.

[Kopceak_MD]

I do not think that the state is capable of killing bitcoin, and if they would like to do it, they would have done it long ago

[molenracing]

the state has the power and authority to make a rule. to kill Bitcoin state can not do it, that can be done by a country is to prohibit people to play Bitcoin. and the state can make strict rules about this, anyone who violates or plays Bitcoin will be given strict sanctions. countries can also block all sites that are used to access Bitcoin. Once the people can no longer access and play bitcoin.

[yhnshjka]

I do not think that China and Russia have seen Bitcoin as a financial threat. Instead, what they are seeing is the subversion and innovation of blockchain technology in the financial sector. The government's issuance of legal digital currency is a recognition of blockchain technology, which does not conflict with Bitcoin. I think that let more people know about blockchain technology and Bitcoin. This is good news.

[Grayy]

Like the Internet, bitcoin has spread all over the world already. Killing bitcoin can be likened to stopping the internet for just a second, the world over. Can you imagine the chaos? Governments only have the power to reject Bitcoin as a legal tender only within their jurisdiction. Individuals in such countries can still own bitcoin wallets and still trade via offshore accounts. I think the greatest enemy to bitcoin right now is FUD and so many scam ICOs emerging to taint the reputation of cryptocurrencies as a whole.

[reality18]

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?

Getting to the roots of Bitcoin to kill it will be very difficult. The pace has been set already by Bitcoin and any other cryptocurrency including the proposed ones to come from the governments will be measured with Bitcoin as standard. These governments want to capitalize the crypto market for their own gains.

[patrickj]

I don't think government can't kill bitcoin because it is the supreme of all cryptocurrency. If the government can serve in a best way using there created altcoins then it can someday, maybe 20 years or when the markets of bitcoin became low and the governments altcoins will be demanded by many crypto lovers from their country. But for now they should first plan it so well to encourage the community to buy their coins in the future.

[sicnarfkswiss]

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?

Government rules if they want it they can get it but it needs much discussion with the expert, But I think they will not create their own crypto, because government were greed they want paper money so they can steal it easily..

[ciarneil01]

It depends on the legality or illegality of bitcoin in your country. But in some considerations, the government may pursue rules on the illegality of bitcoin if it can cause problems on the economy of a certain country or results to a decrease in some investments or may result to losses, thats why someday the government might kill bitcoin because for it is illegality, but i heard in other country they support bitcoin.

[ciarneil01]

It depends on the legality or illegality of bitcoin in your country. But in some considerations, the government may pursue rules on the illegality of bitcoin if it can cause problems on the economy of a certain country or results to a decrease in some investments or may result to losses, thats why someday the government might kill bitcoin because for it is illegality, but i heard in other country they support bitcoin. On the other side government or regulatory bodies can't impose laws to it because of the complexity of the terms used and lack of understanding about it.

[bitcoinisbest]

well for me bitcoin cannot be kill or replace with another coin, the creation of new coin buy the government organisation will only affect the price of bitcoin but that cannot eliminate its existence. 

Demand will start falling as people of that country who has issues their own coin will have to use that coin only as btc would be illegal in that country in such cases more and more country if started doing this the price will also fall of btc and thus people might shift to something else in such case.

[florinda0602]

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 governments can really rid of cryptocurrency out of their country but just like china, there will be a lot of complains that will keep on coming on the government each day and they will still allow ico's to run on their country just like japan is doing right now on cryptocurrency, they are using bitcoins ti improve their own economy.

Yes I think government can do that they can kill bitcoin in their country just like what other countries do with bitcoin, because some counties like china is now doing that.

[ezajavo]

I think that a government with a lot of power can seriously damage Bitcoin obstructing its distribution and persecuting those who use it.The way they do it. Of course, a government ban can push people to go away from bitcoin, perhaps they can dump the price with their laws against btc, But definitly not kill it

[lucian999]

the government can not kill the bitcoin because people control it so and not the goverment controls it so they can not kill bitcoin ever.

[zhea]

I think government has the power to control but not to kill bitcoin at all, in fact we hear some news that government are warning people about investing in bitcoin and some other negative comments about bitcoin. Since it is already widespread all over the world and lot of people are engage with it, and lot of people are relying especially those who are unemployed because they got an earning through bitcoin so we can say that government cannot directly kill or stop bitcoin because of the people.

[Mumbeeptind1963]

the government can not kill the bitcoin because people control it so and not the goverment controls it so they can not kill bitcoin ever.

There's no chance that government can kill bitcoin because no one is holding or controlling it. They cannot turned down the internet too because a lot of people will get angry to them. But not accepting bitcoin is there last chance to stop it because not allowing bitcoin in any country means that it has no value at all because it's useless.

[Pier7]

I think government can't kill easily the bitcoin because it is decentralized and no one controls it. It can operate without the government or bank oversight.  Some countries also like from where i came from, made bitcoin legal.

[rapsa2018]

The government will never be able to kill bitcoin because they do not have control over it but people can just kill bitcoin without investing in it and it's going to crash.

[Piggymonster]

Bitcoin is designed to be anonymous and stateless means no government can control it.  It is famously decentralized so everyone in all over the world can use it and could send it anywhere without the middle man or regulatory body giving it the go-ahead. For me personally, i believe it is impossible for them to kill it.

[willybacem]

It could be that the government kills bitcoin and creates a new currency. But the new currency will certainly not be the same as bitcoin, in terms of functions and benefits will be different. Not necessarily can benefit users such as bitcoin provides a huge advantage to users. The interest of people who will join is also different, the number of people interested in the new currency is not necessarily as much the interest of people who want to join on bitcoin.