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Author Topic: Can government destroy Bitcoin?  (Read 1563 times)
SUDARMONO
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April 12, 2018, 10:37:13 PM
 #21

As we have seen, the government has long disagreed with bitcoin, but here the bitcoin is still roads and triumphs with no support by the government, because the bitcoin that many people like with Blockchain technology and decentralized systems has.
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April 12, 2018, 10:53:05 PM
 #22

What kind of destruction are we talking about here? As for complete shutdown of bitcoin in a country, no, it simply cannot happen. Legal trades and the likes might face these kind of bans but the overall usage of bitcoin in a country would still be operation since there isn't a central server or node that can issue a blacklist on all IP addresses belonging to a certain country. So yeah, you may not be able to send and receive money that came from bitcoin in a legal and allowed way however you can still do P2P trading if such a scenario ever happened to your country.

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Meysa_richa
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April 12, 2018, 11:14:22 PM
 #23

I do not think it's easy for the government to destroy bitcoin, so many governments want to try to destroy but bitcoin still stands as strong as this, bitcoin is not dependent on government because bitcoin is unregulated and can be owned by anyone with a decentralized system.

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April 12, 2018, 11:22:28 PM
 #24

BTC invests too much, and it is easier for the government to destroy individual confidence than to destroy it.

In their view, BTC is no different from gold, real estate or apple stock.

The value of BTC comes from the user's confidence.
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April 12, 2018, 11:30:31 PM
 #25

You should remember that Bitcoin is not under the control of anyone, not by any organization or government, so it can not be destroyed by any individual or entity, it is only Destroy only when no one deals cryptos anymore. The government can ban cryptos, and that affects the rate of the cryptocurrencies market only!

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April 12, 2018, 11:30:45 PM
 #26

BTC exists to break national boundaries. The biggest advantage of bitcoin is that it can transmit transactions directly across the Internet without relying on third parties.

BTC is an advanced technology. How can advanced things be blocked?
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April 12, 2018, 11:40:36 PM
 #27

possibility close to 0%. They can stop for awhile, but not for long. Demand for cryptocurrency especially Bitcoin is increasing, eventually even government force to adopt Bitcoin.
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April 12, 2018, 11:49:42 PM
 #28

I think the government cannot destroy bitcoin because the government did not own cryptocurrency they don't have any access in bitcoin the only person that can destroy the bitcoin is the founder itself.
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April 12, 2018, 11:51:20 PM
 #29

You should remember that Bitcoin is not under the control of anyone, not by any organization or government, so it can not be destroyed by any individual or entity, it is only Destroy only when no one deals cryptos anymore. The government can ban cryptos, and that affects the rate of the cryptocurrencies market only!
Right.No one is capable of destroying bitcoin since it is not controlled by any government or high officials in the country.The government may banned it but they can't stop the people from using bitcoin and making investments in bitcoin.It will be only destroyed when people decided not to use bitcoin anymore in their daily transactions.

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April 12, 2018, 11:52:14 PM
 #30

although the government has the power and a rule, but there is no reason for the government to seize and destroy bitcoin. because bitcoin has provided a great advantage for its users. bitcoin can also we use without government intervention, so I think the government has no rights and can not do it all.
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April 12, 2018, 11:59:46 PM
 #31




I do not understand why there's always someone asking this sort of thing.
I think you can read many threads in this forum about banning on bitcoins and crypto. bitcoin can not be stopped by all countries, some countries can only prohibit it but not for its growth. see today the market grows pretty well bitcoin up 8k again.
I absolutely agree with you, I don't know either why they always open up topics that previously discussed before. We know the fact that it's easier to directly ask compare to conduct some research, maybe that's their reason behind it. But in my opinion, this is not a good habit at all because it provides spoonfeeding. Well, it's not my business anymore, i just continue answering their questions because all I want is to help them.

Going back to OP's question, it is impossible for a government of a particular country to ban crypto worldwide. What they can only do is to give regulations or even ban it also in a sense that countrymen can't convert it into their fiat, that's it. Restrictions of cryptos can only be implemented within the sovereignty of a country.
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April 13, 2018, 12:04:10 AM
 #32

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 the negative impact otherwise the government should quickly legalize bitcoin and this will benefit the country and the government will get much support in developing the country and this should be done Grin
Yes I agree with. There are governments who are looking bitcoin as illegal but it is obvious that it is not because bitcoin is not against the law. They just misunderstand what bitcoin is. They can't destroy bitcoin without a valid reason. And I think there are also a great number of people who supports bitcoin because we experience how helpful it is to us.
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April 13, 2018, 12:14:59 AM
 #33

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


They can not destroy bitcoin. Bitcoin system is decentralized and its hard for government to touch bitcoin. Bitcoin data is spreading around the world and as long internet still exist and community using it, bitcoin can not destroy by government or other institution
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April 13, 2018, 01:05:34 AM
 #34

They can't destroy bitcoin but they can definitely ban bitcoin and everything that is related to it. Like those countries were bitcoin is banned (Thailand, China, India, Germany, Bolivia, Russia - not sure if there are others), the citizens doesn't have any choice but to obey or transfer to other countries were they can use bitcoin. What I am not sure of is that if they can still access their coins even if bitcoin is banned in their county.

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April 13, 2018, 01:11:37 AM
 #35

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

They can easily do destroy bitcoin like ban it but there's no need to do that because we can easily use this to have worth like we can use this to pay bills and to do an easy transaction in other country so if they destroy this that's not good for their country another thing if you experience not good here like you experience a lot of investing here that not go well i think better for you to leave then back after you already have knowledge or just don't do investment

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April 13, 2018, 01:18:17 AM
 #36

It is impossible that the government can destroy the bitcoin. We all knownthat bitcoin is decentralized, it came from a blockchain technology. Not unless they have an advance technology that can destroy the blockchain. They know that bitcoin has a lot pf advantages and especially in economic growth of the country but they choose to be blind because they are thinking that maybe bitcoin will wipe away the traditional currency that we have and they are controlling.
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April 13, 2018, 01:20:06 AM
 #37

Do you think can government distroy bitcoin?
Destroying bitcoin? You mean breaking down every bitcoin's that's in their jurisdiction? There's no way to destroy bitcoin that's why they are stopping the use of it because it's decentralized, nobody controls the supply and it's number is already there until it fully fills the whole 21 Million supply. I wonder what type of destruction is in your mind, you should elaborate it.

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April 13, 2018, 01:22:09 AM
 #38

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


I think crypto in a whole has the government terrified. It can completely change the way we look at finance in a whole. For something to take the power out of their hands and put it into the hands of the people, it's dangerous,
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April 13, 2018, 01:26:07 AM
 #39

Maybe yes,  because government have a power to destroy but it is not to easy because bitcoin is the king of all currency they can ban bitcoin but they can't destroy it easier because as long as the world have an internet bitcoin are still exist and many people are disappointed on if the government destroy it.
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April 13, 2018, 01:27:45 AM
 #40

a ban on bitcoin by the government could have a negative effect on bitcoin, but it can not destroy bitcoin. bitcoin growth is influenced by investor demand for bitcoin, world economic conditions, political issues as well as laws and government restrictions in it. if all those factors are likely to be bitcoin will be destroyed, but if the government ban on bitcoin then I think it will not destroy bitcoin although it can affect the growth of bitcoin selling value.
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