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Author Topic: Can government destroy Bitcoin?  (Read 1563 times)
7Dyoknga5
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May 05, 2018, 11:35:09 PM
 #321

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


it will not be a destruction but it will render bitcoin useless when banned. Governments are capable of doing so with registered business on their countries and if that happen, only p2p transactions will be left. And that kind of transaction seldom happens

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berinatt
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May 05, 2018, 11:36:04 PM
 #322

They can not do anything mate, if they tried the price will go up.
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May 05, 2018, 11:36:23 PM
 #323

Nah I don't think so.
kasemin
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May 05, 2018, 11:41:47 PM
 #324

The government will not be able to destroy Bitcoin as it will be a very fatal decision for the country and a negative impact if the government should immediately legalize Bitcoin and this will benefit the country and the government will gain much support in developing the country. Use it and until now no one has been harmed even Bitcoin brings a lot of cool new winds in industry and business.
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May 05, 2018, 11:50:32 PM
 #325

why the government must destroy bitcoin. it should support if every existing modern technology then we reject it then we will be obsolete. what the government must call is. see the positive and negative impact of more names for the nation and country
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May 05, 2018, 11:55:03 PM
 #326

No. But they can take it over control. They can centralize it.
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May 06, 2018, 12:01:09 AM
 #327

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

Yes  a government can destroy bitcoin if he tries. A government and bank systems can be two major catalysts in crypto world. They fully control bitcoin and other currency if they wish and try.

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May 06, 2018, 12:01:44 AM
 #328

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.
If they can destroy the world for sure no more bitcoin existing right now right? That is why I really love bitcoin as it is not controlled by anyone and I am confident that no one can hack it.
How confident you are about no one can hack? As we all know, there are so many issue about hackers. Not bitcoin that they hack but wallet. But its the same that its impact to bitcoin price too. Government is another best key. It can destroy with work together with all country to ban bitcoin.
elghoniya
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May 06, 2018, 12:02:27 AM
 #329

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


No, I think it is imposible.The government  can't ban crypto completely. Even if all banks ban crypto related  transactions, people will always find means to buy btc directly from other people. So, This will have massive negative impact on crypto and slow down its adoption. But no, they can't totally destroy it. No one can refuce the technology.
quirman77
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May 06, 2018, 12:15:09 AM
 #330

I think the government can not seize bitcoin yet. because until now the government does not have a system to regulate bitcoin, hence now the government can not do that yet.
iotarocket
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May 06, 2018, 12:20:49 AM
 #331

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


No way. Bitcoin is unstoppable because it is decentralized and hence censorship-resistant. Plus a few countries have already legalized it.
THATBTC
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May 06, 2018, 12:21:42 AM
 #332

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


not germany! hahaha Of course not, they'll try, but they'll end up joining
szpalata
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May 06, 2018, 12:30:10 AM
 #333

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


not germany! hahaha Of course not, they'll try, but they'll end up joining

I don't think they even can because many would have destroyed bitcoin by now if they could starting with China. Bitcoin is decentralized and for them to totally destroy it then the must win her turn off the internet or control a majority of the coins and the latter is practically impossible at the moment so let's just forge about them and enjoy our financial freedom to the max with bitcoin.
Hec2005
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May 06, 2018, 12:44:02 AM
 #334

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

It would be easy for governments to say that they will destroy bitcoin but it is very hard to do. Bitcoin is decentralized that government can't do anything about it. The best that government can do is regulate exchanges.
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May 06, 2018, 12:47:38 AM
 #335

I think the government can not seize bitcoin yet. because until now the government does not have a system to regulate bitcoin, hence now the government can not do that yet.
Yes, I also don't think that government can destroy Bitcoin; bitcoin is becoming more popular and it is continuously growing so it won't be easy to destroy it.

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May 06, 2018, 12:51:43 AM
 #336

The government does have the power to do so, in conclusion then the government is an institution that will make regulations whether Bitcoin can be used or prohibit it. The government is very powerful and when the government supports it can be said that the price of Bitcoin will increase because of the increasing trust owned by the public. If the government does not support then one more step Bitcoin will lead to a destruction.
arienna23
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May 06, 2018, 01:56:20 AM
 #337

It is impossible to destroy the existence of bitcoins, no one or any government has the ability to do so. However government collaborations certainly has the possibility to destroy the demand for bitcoins and thus reduce the price too near zero.
baho11
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May 06, 2018, 02:13:18 AM
 #338

Maybe in some countries who banned the bitcoin but here in Philippines it will not happen for a lot of people used this as their  source of income .And if government destroy bitcoin opportunities lose .In some instances also a lot of working students and young people loses their financial support .
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May 06, 2018, 02:17:40 AM
 #339

I do not think the government can destroy bitcoin, because bitcoin does not hurt anyone else even bitcoin can help others, if the government does not legalize legitimate bitcoin just because of fear the country's currency will go bankrupt with the presence of bitcoi
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May 06, 2018, 02:30:13 AM
 #340

i don't think that government can destroy Bitcoin , if they can do it why they let Bitcoin enter to wallstreet ? Wink

No they cannot destroy it is decentralized very hard to pin point individuals privately locked and bitcoin has a good purpose for the economy of the country.
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