Can Governments Kill Bitcoin?

[candolbitcoin214]

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?

Bitcoin is a big  financial threat. But they know how effective and relevant it is in the present times. They for sure look for a way to control it if they cant yes it is very possible that they will destroy something that they cannot take control.

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[northcoin2018]

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?

A potential threat is always an enemy of the state. If they cannot find a way to regularized or control bitcoin then it is a big possibility. And i think the present attact of bitcoin is their doing.

[GoodBrother]

If necessary, governments can do anything. However, they need multilateral solution of G20 at least, to try to significantly damage  Bitcoin. Now such a scenario would be unlikely. I believe that governments will try to benefit from Bitcoin to varying degrees.

[EmJay]

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?

Even if they try , they will not succeed. They can have their own cryptocurrency but bitcoin will remain.  People are supporting bitcoin and for as long as there is cryptocurrency there will always be a bitcoin.

[taiwww]

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 that they will implement such coins real soon. To be honest the current crypto market itself is struggling a lot since many years to get into the nationwide payment structure. That was it's one of the principle when it was created in the first place. I mean they tried to make it secure and anonymous and for the peer to peer transaction.

Now you are saying that government wants to create their own crypto currencies, but I ask why is that so? Why make more mess if they already have fiat to look after? That's just meaningless gesture in anyway and it's not gonna be worth it.

[RuslanSamui]

Hello everyone, a good question, in Russia they are trying to prohibit the use of crypto currencies. I do not know what it will lead to

[last7minutes]

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 really that many governments in different countries dreams about the possibility to put cryptocurrencies under their control. But as we know it is almost impossible to do at least for now.

[chacha4twenty]

naah! never! government cant kill bitcoin but they are trying best, they will not successful.
Old government very afraid from btc. banks also in danger because use of btc increasing day by day, banks will be destroy if btc unban from the all countries.

[Freedcoin]

Just curious, what is the most crypto-friendly country at the moment? In terms of cryptocurreny, of course

[tbterryboy]

Governments can NEVER kill btc.
Even if Government are the one who is responsible in all the happenings in our society and in our community and can remove any sort of illegality and illegitimate transactions, connections and other works and actions that big people does, but Bitcoin is not among them.
Bitcoin is decentralized!

Bitcoin is decentralized and can not be killed as it has shown that surviving in such situations when you start from scratch is very hard ad Bitcoin has gone through that situations now the time is very good and favourable. If Bitcoin has survived in that situations the today killing Bitcoin is impossible for Governments but possible for people. You must be thinking that why people will kill it but can not because Bitcoin is the well and wish of people so it is impossible and not an important question to ask.

[mullzerwar]

I'm interested in this topic. Well, I'm also curious how they can kill the bitcoin that has been spreading around the world. Maybe they can create their own cryptocurrency and force the societies to stop using or involved in bitcoin. But, it cannot make the bitcoin killed when there are still many people around the world involved and investing in bitcoin. They may influence the price or existence, but, to kill the bitcoin, it is difficult and it really needs a big effort from them. Because now, more people support the bitcoin and use it for valuable things.

[Coinlovertoo]

Every government have the power to stop bitcoin operations when they amend or create a law for totally banning of bitcoin to their jurisdictions .
I'm hoping that my country could not do that.

[shillerguy020]

I believe that the government will not be able to kill bitcoin, for this they will need to unite and have the same position in relation to bitcoin. But many countries have a positive attitude towards bitcoin, so it will not be able to kill.

[aeternus]

no government can kill bitcoin. the blockchain technology was not designed to be  manipulated by the government agencies or by the global financial laws as it is a stand alone technology. one of its motives is to decentralize the financial way in which the government regulated financial policies. thanks

They cannot kill bitcoin, but they are trying their best to try to manipulate the market and the people holding cryptocurrencies, they are trying to scare people away with all the regulations that they are imposing, I'm sure that the regulations are going to be so complex that you are going to need several accountants and lawyers and most the time people do not want to deal with that and they will avoid cryptocurrencies as a result.

[hakertajniak]

No, bitcoin is decentralized system, even government cannot kill bitcoin. No one can control bitcoin.
Even if government have regulations about bitcoin, it will not kill bitcoin.

[Valzzz005]

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?

For me.yes if all tje governments all around the world will banned it into the market because in that sense the bitcoins will not.run anymore and the people cannot use it because it is banned but maybe it can be used because there wjll always be an illegal activity but they will lose a lot of people and the price will surely fall down too. But lets not forget that yhe Japanese is really supporting the bitcoins so that thing will not happen in.real life. Noyhing can stop bitcoins if there are still one country who supports it.

[BaraxLo]

I think they can restrict and pinch the bitcoin and crypto market. However, that will not prevent bitcoin from working and evolving. It is difficult to control whether users or investors can transfer money or pay for goods. I totally do not expect that to happen with bitcoin and cryptographic markets.

Governments have no control over Bitcoin but have control over people and can not change or amend Bitcoin but can make amendment or can pass a law to ban Bitcoin and other cryptocurrencies in country to prevent people not to use cryptocurrencies. In my assumptions I have concluded a main point which is about the growth of Bitcoin; from now if there is no such country allow Bitcoin for its people to invest then there is no affect on the Bitcoin because Bitcoin is already using all over the world and some countries have adopted it fully so the future survival is valid and the and then lasting of Bitcoin is invalid.

[mimakter]

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.

[Emran4567]

The government of different countries see it differently. In any country, the government sees Bitcoin as its economic development, but one sees it as a loss. But most of the governments of the governments of this country will see it better. And if the country's head of government banned Bitcoin, There is no good idea about them. They banned Bitcoin in their country and could not stop its work. So B Are coins and will cilo.

[kyucryp]

I think it will not happen, if the government wants to kill bitcoin would have been done for a long time. his real bitcoin has lasted for 9 years. bitcoin has been designed not to be easily destroyed by a government. its decentralized system makes the strong bitcoin unmanageable to anyone.