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Author Topic: Can government destroy Bitcoin?  (Read 1563 times)
HiringYou
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May 06, 2018, 07:12:14 PM
 #421

We all say that Bitcoin is decentralized in nature which means that no government is able to control the transactions made through Bitcoin but according to me government can destroy bitcoin.If governments of all countries declared it as illegal in their respective countries then we will have no way to use Bitcoin.I mean we will be able to work with Bitcoin but as we all know Bitcoin has no physical form ,we have to convert it in our respective currencies to use it.If government will ban it then we will have no way to convert it in our particular currencies.So we will not be able to use it.Due to this people will slowly stop using it and Bitcoin will come to it's end.But I don't think this will happen because governments are intelligent enough to understand it's potential and they know that Bitcoin can be an asset to their economy so they will not ban it.
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May 06, 2018, 07:31:31 PM
 #422

Bitcoin may disappear for two reasons. 1 Mining bitcoin will be too expensive and it will be necessary to expend so many capacities that it will be absolutely uneconomic economically. 2. Governments of countries at the legislative level will prohibit bitcoin and other coins. In this case, bitcoin will go to the black Internet and will be used only for illegal operations
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May 06, 2018, 08:00:08 PM
 #423

I think it's not that easy the government will confiscate bitcoin, because bitcoin is also very popular all over the world, and also greatly helps the needs of our society, I think the government will not be able to get rid of bitcoin.
Kupid002
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May 06, 2018, 08:04:07 PM
 #424

I think it's not that easy the government will confiscate bitcoin, because bitcoin is also very popular all over the world, and also greatly helps the needs of our society, I think the government will not be able to get rid of bitcoin.


The popularity are not an excuse for to destroy something if the government wanted this to be done they make a way to be done this for but they dont do that to destroy this currency cause as what we may ever have to use it for government see this things too.

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yangdd
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May 06, 2018, 08:12:14 PM
 #425

they can't do it . bitcoin is decentralized . it is widely distributed in all corners of the globe . it will become a universal currency for the world , not far in the future .
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May 06, 2018, 08:23:42 PM
 #426

In my own personal opinion, it is possible that the government will destroy bitcoin because they have the power to do it if all the our country start to banned bitcoin. But it can't happen because there are many countries that was legalize by the government, so it can't be destroy by the government.

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May 06, 2018, 08:44:46 PM
 #427

Government can use regulations and sanctions to prevent citizen to use bitcoins but is not possible for government to destroy bitcoins. While some government are hostile to bitcoins others welcome the use of crytpcurrency. So to say government can destroy bitcoin won't work in the whole world but can work in the jurisdiction of the government.

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BertoloyBTC
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May 06, 2018, 08:49:04 PM
 #428

The government have no rights or authority to destroy bitcoin , because of the fact that bitcoin is decentralized and circulating only in the internet, the government can not do something that make bitcoin stop its circulations because it like a programme in the digital world  which are use by the people and doing right things which does not bother the peoples lives.
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May 06, 2018, 08:55:46 PM
 #429

Although it is kind of hard to do that but I think that they can destroy  bitcoin as a matter of fact if all countries ban bitcoin the demand on it will decrease exponentially as it will be either useless or so hard to trade with and thus it's value will decrease a lot untill it's gone.

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May 06, 2018, 09:10:09 PM
 #430

If the government decides to make trade or storage of bitcoins illegal, questions will be raised about exactly how such a ban will be provided. The government can not capture your bitcoins unless you decide to transfer your personal keys. However, this can significantly reduce interest, which will in general affect its existence in the market.
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May 06, 2018, 09:12:27 PM
 #431

Lately there is a lot of talk about bitcoin even the media is also peeling about bitcoin and the government also gives direction not to invest in bitcoin but what happened bitcoin so many people who invest even schoolgirl also do that .. government can not stop bitcoin because bitcoin can not be owned by a single power so what the government expects is useless
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May 06, 2018, 09:15:37 PM
 #432

Government cant destroy bitcoin but they can banned and prohibit bitcoins in one country and stop people using it.but some country lready accet bitcoin so maybe instead of destroying bitcoin they will accept the bitcooin in the near future.

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May 06, 2018, 09:25:48 PM
 #433

they for sure if unite globally and set some limits to it can destroy it but it would be against their interest as they would damage themselves I mean the politicians as btc can reduce the offshore banking.
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May 06, 2018, 09:28:30 PM
 #434

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

No, only a few governments have decided to regulate and ban bitcoin. But I think-this decision will not be permanent. Soon it will be canceled, as will understand what bitcoin gives and what prospects and opportunities.

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May 06, 2018, 09:34:17 PM
 #435

As far as I know, the government can not destroy Bitcoin. The government may ban people from using and trading Bitcoin. But the government can not ban all people from using and trading Bitcoin, there will be a lot of black market and the government can not intervene.
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May 06, 2018, 09:34:33 PM
 #436

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



I do not think governments can destroy Bitcoin. As the use of bitcoin increases, it will become more difficult.
They are doing FUD with such news.
tiktak89
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May 06, 2018, 09:43:43 PM
 #437

No, governments may attempt to regulate digital currencies, but this will not lead to the desired result. Bitcoin was created with the purpose to block such actions.

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May 06, 2018, 09:50:26 PM
 #438

Governments will not seek to destroy it, rather they will find a way to control it. At the end of the day Governments and Corporations will have the lion's share of it. Once crypto is widely accepted, it is money and those two entities will do everything to grab hold of power.

Make no mistake, it's a power game in the long term.
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May 06, 2018, 09:52:07 PM
 #439

Perhaps if only a few governments of one of the countries it would be difficult to destroy bitcoin. Because the range of bitcoin that has been increasingly widespread and increasingly known by many people. But I do not know if the governments of some compact countries are willing to destroy bitcoin. Maybe it can be in my opinion because surely there will be many people who invest in bitcoin and lower the price in the market.
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May 06, 2018, 09:55:07 PM
 #440

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

If the people will be well educated about bitcoin and they will know about all the features of bitcoin then no one can harm their bitcoin as with the knowledge of bitcoin anyone can know that bitcoin is a decentralized currency and it is also anonymous currency so no one can control it and no one know that who is using it. It is also the right of people that government allow those things which are for the benefit of their people so people have to know about their this right and have to call for their right to not disallow bitcoin.
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