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Author Topic: Can government destroy Bitcoin?  (Read 1561 times)
GeniusAko
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May 04, 2018, 03:19:21 PM
 #261

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

Government can't destroy the bitcoin because the life of the bitcoin depends to its users. The bitcoin will not lose its value if all its users will continuing to use and to buy bitcoins.
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May 04, 2018, 03:23:01 PM
 #262

I think bitcoin will not be destroyed, will not be able to menyitapun because until now who the creator and how bitcoin made is still a mystery
and many bitcoin users will not agree with the government's decision

I think that if government officials decide to break bitcoin down they will do it by any means. For now they don`t care who the creator of Bitcoin is but if they decide to know it it will be no problem. The fact that bitcoin users won`t agree with the government`s decision doesn`t matter for officials. If they decide to block it the number of crimes won`t decrease but grow because the players won`t go away they just go in the shadow zone.
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May 04, 2018, 04:06:04 PM
 #263

Not at all! In fact, if the government is banning Bitcoin to fiat and vice versa transactions, even in that case we will be able to trade crypto with cash and even individual bank transfers (one to one unlike exchange system). Bitcoin as a technology is very strong and no one can destroy it other than the users. Lack of maturity among the users is the biggest concern in my opinion when it comes to the journey of Bitcoin.
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May 04, 2018, 04:14:55 PM
 #264

I don't think any Government can destroy bitcoin now, it's been 10 years bitcoin in the market and it will continue to grow. So it will be impossible task for any govt to challenge bitcoin at this point.

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May 04, 2018, 04:26:45 PM
 #265

They may be able to ban bitcoin in their country but they cannot destroy or delete the existence of bitcoin because bitcoin is also part of technology that we are using and beside bitcoin is not owned by anyone.

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May 04, 2018, 04:27:50 PM
 #266

Depending on if, and how, government going to destroy bitcoin. The only way bitcoin could be destroyed with regulation the cryptocurrency market to collect huge tax revenues.
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May 04, 2018, 04:32:21 PM
 #267

Depending on if, and how, government going to destroy bitcoin. The only way bitcoin could be destroyed with regulation the cryptocurrency market to collect huge tax revenues.
I don't think that the government could ever do something to ruin bitcoin unless they would declare to banned bitcoin in their respective country, but although right now a lot of countries banned bitcoin, it is still existing.

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May 04, 2018, 04:36:10 PM
 #268

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



No, that will not happen, on the contrary, it will end up accepting it in each country
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May 04, 2018, 04:40:22 PM
 #269

If the crypto currency is widely spread, it is the society that will choose the leader of the crypto currency and determine its fate, not the government. and the same government will not be able to prevent and even less destroy the very idea and implementation of crypto currency in the world.
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May 04, 2018, 04:42:04 PM
 #270

WTF?! Mate thats impossible, goverments can prohibe use btc, but destry it its impossible! Thats why its beautifull, becouese nobody can control it.
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May 04, 2018, 04:43:34 PM
 #271

The government may recognize as illegal bitcoin on the territory of the country. But they can not destroy bitcoin. Bitcoin isn't controlled by anyone, including the government of any country.
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May 04, 2018, 04:59:11 PM
 #272

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

Btc is an imperceptible material so it is extremely troublesome for the government to destroy or endeavor to destroy it since I realize that Btc has the energy of all financial specialists who dependably enable to Btc and it is unimaginable for the government to destroy Btc rather it will pivot Btc will destroy the government.
alvinmtp
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May 04, 2018, 05:06:38 PM
 #273

the government will not be able to destroy Bitcoin, many people argue that the ban on the use of bitcoin by governments in a country will be able to destroy bitcoin. but in fact bitcoin still exists and has a high price and always in want of many people around the world. this means that prohibiting the use of bitcoin may have an effect on bitcoin prices but I'm sure bitcoin will still exist and always have a lot of interest
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May 04, 2018, 05:27:26 PM
 #274

The truth is yes, till Bitcoin is dependent on fiat currency. In India Bitcoin market was booming like anything but when it comes to decision, central Bank of India tooks one one step and Bitcoin is going to die. They banned Banks to support Bitcoin.

When no one will be able to convert Bitcoin to fiat there is no use of it...
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May 04, 2018, 05:37:07 PM
 #275

If a.country bans bitcoin there are still altcoins that you can use. and i think government can play a role in destroying a cryptocurrency if all countries agreen to illegalized and destroy bitcoin. But that wont happen since japan already legalized bitcoin and some countries already accepts bitcoin in their companies.

 
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Bionicgalaxy
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May 04, 2018, 05:44:05 PM
 #276

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

If all the government banned bitcoin in there country in conclusion bitcoin will be no more. I think it will never gonna happen because there are now countries that bitcoin is legal and accept it as a payment, so there are no possibility that bitcoin will be destroy and governments do not actually can take over bitcoin.
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May 04, 2018, 05:46:22 PM
 #277

No governement or authority has enough resources or time to completely ban a decentralised for of currency that too on an internet from existing unless there is a break down of the internet itself. They can only regulate it until people are converting these crypto in fiat. Else crypto currencies are quite untraceable and can't be easily analyzed for taxing on gains. The ultimate motive of crypto is to give the decentralized form of financial landscape free from any type of regulation or manipulation. This can only be achieved if the utility of bitcoin increases and people start trusting it as a monetary system more.
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May 04, 2018, 05:53:54 PM
 #278

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

If all the government banned bitcoin in there country in conclusion bitcoin will be no more. I think it will never gonna happen because there are now countries that bitcoin is legal and accept it as a payment, so there are no possibility that bitcoin will be destroy and governments do not actually can take over bitcoin.
Governments might determine the medium of exchange by coordinating beliefs, employing transactions policy, and punishing users of alternatives. By declaring an item legal tender, for example, the government might create an especially salient focal point around which individuals can coordinate on a particular money.
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May 04, 2018, 05:54:28 PM
 #279

Of course not , It is impossible to destroy the bitcoin . because bitcoin is the global coin ,almost all over the country's people know about bitcoin when any country ban the bitcoin its news spread all over the world then  people are interesting to know activity of bitcoin.Day by day bitcoin popularity increasing at increasing rate.
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May 04, 2018, 06:07:09 PM
 #280

if then could they already would have done this but they can't.they can just ban it nothing else
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