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Author Topic: Can government destroy Bitcoin?  (Read 1561 times)
richardsNY
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April 13, 2018, 10:24:58 PM
 #81

No, the governments will not be able to destroy bitcoin, but it can do anything to make it as unattractive as possible for ordinary people.

It's too late for that now. I am fairly sure that if they did everything they could to discredit and tarnish Bitcoin back in the very early years, they could and probably would book success. However, with countries legalizing Bitcoin, large professional parties getting involved in this ecosystem in more ways than one, merchant adoption increasing, less negativity in the media, crypto in general has gained a whole lot more credibility. One must be living under a rock to not know Bitcoin. The only thing these people need is a trigger to enter the market, and we have been very successful in that, especially so when it comes to the adoption boost of last year. Nothing can even remotely describe what happened last year. Exchanges receiving numerous +100,000 signups within 24 hours is just insane....
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neoandtrinity
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April 13, 2018, 10:26:41 PM
Last edit: April 14, 2018, 11:14:11 AM by neoandtrinity
 #82

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

I think the government can not destroy the bitcoin  but they can ban crypto and ICO then the negative news will normally cause individuals to sell BTC and I think Bitcoin's value is going down.
harobaru
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April 13, 2018, 10:28:06 PM
 #83

government can not destroy bitcoin because bitcoin is digital currency and its information is not any one place. so it is impossible.
ngavanngo22
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April 13, 2018, 10:29:15 PM
 #84

Bitcoin cannot be destroyed by the government because Bitcoin itself is a self-contained model, independent of any individual, organization or government. So the government's ban on cryptocurrencies only affects Bitcoin's exchange rate instead of destroying them. The government's ban on BTC has made the crypto's appeal even higher because the exchange rate of the BTC has increased steadily.

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April 13, 2018, 10:50:03 PM
 #85

Yes the  government can destroy BTC, policy and regulations against Bitcoin has a major detrimental effect on  and on the growth and  acceptance  of Bitcoin, the advantage BTC has is the decentralized platform, with this in place it will be difficult for  goverment to destroy BTC.
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April 13, 2018, 10:57:49 PM
 #86

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


The technology is unbreakable and cant be controlled by any government. They can change people's mind and even ban it, but the thing is it will continue to go on. The only way to make it useless is when people dont use it anymore and it's there is no longer demand in the market. Bitcoin has decentralized feature and no one can have full control over it, the has control over all his funds.
Tnt1971
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April 13, 2018, 10:59:57 PM
 #87

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

A government and their people only the main catalyst of destroying bitcoins.a government can legalise bitcoin worldwide and a government  can ban bitcoin worldwide.

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RondoAnyar
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April 13, 2018, 11:01:09 PM
 #88

the government destroys the bitcoin is just an impossible dream. I can only see if the government can only apply a rule without being able to destroy. because the government does not have the authority of it.

jhonvir666
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April 14, 2018, 08:55:48 AM
 #89

 Smiley  We do not know where to go for the purpose of the puppets are so many poachers and scamers who want to destroy the bitcoin and sometimes there are people who are not accredited about bitcoin so we do not blame it even though the government sometimes did not allow bitcoin.at there are also countries where bitcoin is being banished because of its destruction and lack of confidence that bitcoin binds. This does not mean that bitcoin is being attacked by the government right now that the government is now receiving a cryptocurrency in all the world especially now that the government is open to a bitcoin. except in countries rejected by bitcoin or banned countries so bitcoin can not be destroyed by government ..
Jcabudx
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May 03, 2018, 10:53:27 AM
 #90

Yes it can be that bitcoin can be destroyed by government as you see now government is banning bitcoin is some countries and bitcoin couldn't resist about it. But I'm pretty sure that if bitcoin will banned bitcoin all over the world, bitcoin will make a way to have another crypto that is hidden from government.
klimyud
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May 03, 2018, 11:01:35 AM
 #91

They can affect the bitcoin growth by banning in their own country. Once a government bans bitcoins, people in that country will be scared to invest in it.
Bugcoin5
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May 03, 2018, 11:03:47 AM
 #92

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

It is impossible to destroy the existence of bitcoins, no one or any government has the ability to do so.Bitcoin is too big to destroy the governments can’t ban something they can’t control, if they would like to destroy it, they would have to erase every node in the network which is nearly impossible - All the computers which contain the blockchain history need to be put offline.
Paka1
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May 03, 2018, 11:15:28 AM
 #93

Government cannot destroy bitcoin as a whole,  they can only restrict or prohibit cryptocurrency within their country. Government may intervene and imposed regulations from banning bitcoin to enter to their country but  they won't be able to put end in it. Moreover, they won't be able to tell other countries from using and accepting bitcoin as a mode of payment. Thus,  bitcoin can never be defeated by the government.
Khalp1
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May 03, 2018, 11:18:30 AM
 #94

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

I think they could not eradicate bitcoin because Bitcoin was the largest distributed computing project by several orders of magnitude, and to successfully fork the Blockchain they would need to coordinate an amount of computing power of the existing ones running the bitcoin software.
KateOrigami
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May 03, 2018, 11:21:38 AM
 #95

I can enjoy a wonderful bathroom, even if no one else does. But the usefulness of potential money, such as bitkoyn, depends crucially on whether other people use them. We must coordinate our beliefs. If someone does not believe that others will use bitcoins, they will be less inclined to accept it. For cryptresources that lack some non-monetary usage, this means that demand can fall to zero, even if everyone chooses its appropriate alternative.

In general, governments can define an exchange environment, coordinating beliefs, applying a transaction policy and punishing users of alternatives
Happydd
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May 03, 2018, 11:32:53 AM
 #96

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

In my opinion, the government only contributes to reducing bitcoin investment, not completely destroying it. In fact, in Vietnam the government does not accept bitcoin but bitcoin is still growing. Many businessmen, despite the prohibition to get rich from bitcoin.
dodz031718
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May 03, 2018, 11:43:58 AM
 #97

The government should see the good effect that bitcoin brought to the people who are engage with it because the lives of the many becomes better. Even if the government are trying to destroy bitcoin but they will not succeed because bitcoin is an independent entity. Lot of people are engage with it so its strong and stable and cannot be easily destroyed by anybody who wants to.I think it good to see our government will support with it through taxing and to generate revenue for the development of a certain country and to the people as well.
arrmia11
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May 03, 2018, 11:47:44 AM
 #98

They are just threatened with the concept of bitcoin that is why they want to destroy it. Unfortunately, they cannot do that, they may be able to lessen the number of investors or users per country, they may put some restrictions or rules but they cannot destroy the fact that bitcoin is a decentralized system and any person can use it. If they were just able to realize the good effects of it they would use it for the betterment of their country and not do the other way around.

CJPEREZ
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May 03, 2018, 11:51:58 AM
 #99

Some of the country banned bitcoin but they have some country accept bitcoin to use payment in online shopping and they have some banks accept bitcoin and can convert from bitcoin into physical money. So government can't  destroy totally  the bitcoin because of the supporters  and community.
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May 03, 2018, 12:07:30 PM
 #100

Governments can`t destroy bitcoin because officials don`t have profound knowledge of what it is and how it works. They see that it`s a new kind of currency - virtual, decentralized, volatile and uncontrolled. And they fear it. But as time goes by they realize all the advantages and those who do it first they will be on the leading positions and those who don`t they will follow.
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