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Author Topic: Can government destroy Bitcoin?  (Read 1563 times)
icecube45
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May 03, 2018, 12:09:57 PM
 #101

if all countries forbid bitcoin then it will destroy bitcoin because if the government(countries) prohibits the use of bitcoin then its citizens will automatically be punished and will further reduce the interest of users to use bitcoin around the world, if bitcoin users reduce the bitcoin price will decrease because bitcoin price depends on the user (demand and supply on the market) then the total amount of bitcoin and its holders, as well as the news and over time the bitcoin is not profitable anymore and bitcoin is lost from this world. for the possibility of this happening is small because bitcoin is very profitable (influence) in the world economic factors.
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charlemagne_15
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May 03, 2018, 12:12:05 PM
 #102

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?


Yeah of course. They can definitely destroy the bitcoin. Governments are afraid of it due to they can't have a power over bitcoin. They also can't fully control it unlike in the paper money. Setting some rules, regulations, and laws might be their way to damage the bitcoin. Banning it all over the world us also a way to stop the bitcoin. But I guess they can't do it because of the continuous groeing and develipment of bitcoin. Governments might lessen the investors and users but they can't fully stop people to use it.

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cryptobluemoon
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May 03, 2018, 12:13:25 PM
 #103

No governments can either ban or destroy bitcoin in any time future bitcoin is decentralized network no central authority can control the bitcoin network
whoisyourking
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May 03, 2018, 12:17:21 PM
 #104

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?


Yes only government can destroy bitcoin if the world government agree that bitcoin will treat as ilegal and government implement an legal action to banned bitcoin world wide.
sp01_cardo
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May 03, 2018, 12:19:14 PM
 #105

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?

No, they cant destroy bitcoin. From the past years governments and banks declares war against bitcoin. But bitcoin stand still and became stronger and stronger. The governments bans bitcoin just because some people used bitcoin from illegal acts.


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ngano ba
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May 03, 2018, 12:20:21 PM
 #106

No, government can not destroy bitcoin because government have no hold for bitcoin and its opeteation , this is because bitcoin is decentralized cryptocurrency in the digital world ,so government can not impliment its policy to the bitcoin government.
Addywealth
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May 03, 2018, 12:20:32 PM
 #107

I don't see the government of any country destroying bitcoin they can only come up with policy and laws that would not be  friendly with it, nevertheless bitcoin will still thrive though might not be openly traded.  
Dingdongjl
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May 03, 2018, 12:21:40 PM
 #108

Not at all and that is why its decentralized except if all country will banned it and they force all people to sell their bitcoins it will start the crash of its price and then suddenly will die.

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May 03, 2018, 12:24:24 PM
 #109

Government can't destroy bitcoin they can only ban it nothing more and i think bitcoin will be the currency of many countries in the world
Bruce1614
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May 03, 2018, 12:25:27 PM
 #110

Truly they can, particularly with how they can boycott and make laws which make bitcoin unappetizing to people in general. Which influences the supply of bitcoin to lower and lower into the cryptographic money advertise. So regardless of whether the digital money are decentralized it is as yet influenced by a great deal of elements which are additionally directed by the terms set by this world and if an impressive number of governments and places even organizations does this then bitcoin can unquestionably be dropped
ZAYANDI
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May 03, 2018, 12:38:10 PM
 #111

Bitcoin can not be stopped by all countries, some countries can only prohibit it but not for its growth. actually this problem is not important because the government will not be able to destroy bitcoin because this will be a very fatal decision for the country and negative impact if the government should immediately legalize bitcoin and this will benefit the state and the government will get much support in developing the country and this should be done.
Samj16
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May 03, 2018, 12:57:23 PM
 #112

Maybe they can do it once they make and implement a law that forbid or banning individuals using bitcoin. But maybe its a long process before they succeed.

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neymarjunior50
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May 03, 2018, 01:02:09 PM
 #113

No government cannot destroy bitcoin . so many country government already declared it is legal some few country still not approved it . i think in future every country can create own crypto currency  . fiat currency always controllable but crypto not controllable .
rye18
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May 03, 2018, 01:25:36 PM
 #114

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?


Yes of course the government have all the right to impement the law, if they prohibit the use of bitcoin in their country and to people as well.
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May 03, 2018, 02:41:14 PM
 #115

Personally I can`t see the particular ways governments can destroy bitcoin. If they don`t understand the "machinery" of it, how they can influence it? I`m sure that officials ain`t that silly and if they see advantages they use it in their own interests. The time of bitcoin hasn`t just came.
dammang
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May 03, 2018, 03:01:43 PM
 #116

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?

i think they cannot,bitcoin is become bigger and bigger now million of people has now invested in bitcoin so government has not that easyto destroy bitcoin,

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May 03, 2018, 03:21:55 PM
 #117

As recently government are banning bitcoin in some countries. Do you think can government distroy bitcoin?

i think they cannot,bitcoin is become bigger and bigger now million of people has now invested in bitcoin so government has not that easyto destroy bitcoin,
I agree with you, Bitcoin is the currency with the technology in it that is Blockchain and Bitcoin can not be destroyed , there are now many countries that legalize the use of Bitcoin. Bitcoin is become bigger and bigger now.

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May 03, 2018, 03:24:35 PM
 #118

I think they cant. Bitcoin is very successful and big industry beside there is no big effect of it to the real world but make the people grow. In short there is no bad reason to totally ban bitcoin.
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May 03, 2018, 03:25:55 PM
 #119

I think they cant. Bitcoin is very successful and big industry beside there is no big effect of it to the real world but make the people grow. In short there is no bad reason to totally ban bitcoin.
They can't kill bitcoin, even if they try ... Fans of cryptocurrency fear government regulation could ruin it, but they shouldn't be concerned. ... As governments struggle to ban technologies like Tor and encryption, it seems impossible to imagine them gaining the ability to truly impact bitcoin.
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May 03, 2018, 03:44:12 PM
 #120

I think the government can not afford the power of the country, especially as many countries know that bitcoin and legitimate countries are connected to bitcoin so the bitcoin can not just break the government because it also supports bitcoin
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