Devil's Advocate: How to stop Bitcoin

[AndrewTheGreat]

Let's say the a government wanted to completely shut down Bitcoin's use. How would they do it?

How would a single person or group of persons, potentially with unlimited funds, shut down Bitcoin?

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[wopwop]

method 1
step 1: seize all exchanges simulaneously
step 2: ban exchanges

method 2
step 1: stop QE

method 3
step 1: build mining park
step 2: kill switch the internet
step 3: start invalidating previous transactions with mining park

method 4
step 1: criminalize cryptocurrencies

[mearylll]

Let's say the a government wanted to completely shut down Bitcoin's use. How would they do it?

How would a single person or group of persons, potentially with unlimited funds, shut down Bitcoin?

Just make new law making using unverified coins (ID validated) illegal. Simple + cheap + probably will happen

[Hfleer]

method 1
step 1: seize all exchanges simulaneously
step 2: ban exchanges

method 2
step 1: stop QE

method 3
step 1: build mining park
step 2: kill switch the internet
step 3: start invalidating previous transactions with mining park

method 4
step 1: criminalize cryptocurrencies

He seems to have a lot of answers here.  This is one of those threads I've seen 7 or 8 times before, should almost be a sticky/faq somewhere.

[Carlor]

You can't stop bitcoin if you don't do it worldwide.
One country trying to stop bitcoin is not enough.

[psychocoin]

Would a 51% attack be worthwhile?

[bitcoin44me]

You can't stop bitcoin if you don't do it worldwide.
One country trying to stop bitcoin is not enough.

Why?
If you punish having btc by death penalty and make some random "catch", you will probably have a respected law without even having to forbid the access to btc in your country

[Carlor]

You can't stop bitcoin if you don't do it worldwide.
One country trying to stop bitcoin is not enough.

Why?
If you punish having btc by death penalty and make some random "catch", you will probably have a respected law without even having to forbid the access to btc in your country

Yes. And then?
For example, the US forbids bitcoin and punishes possession by death penalty, the Chinese, Russian, European will go on buying and using bitcoins (at a lower price of course at first ) And the US would be standing by as other people get richer and richer and nobody needs Dollars anymore.
If China recognizes the potential of BTC there is no way of stopping it. BTC is the chance to kill the US $.

[bitcoin44me]

Yes. And then?
For example, the US forbids bitcoin and punishes possession by death penalty, the Chinese, Russian, European will go on buying and using bitcoins (at a lower price of course at first ) And the US would be standing by as other people get richer and richer and nobody needs Dollars anymore.
If China recognizes the potential of BTC there is no way of stopping it. BTC is the chance to kill the US $.

Well, the question was "how to prevent people from a country to use bitcoin?" and I explained how.


If you think "how to make bitcoin useless?" or "how to stop the expansion of btc?" just wait a couple of years and do nothing
The reason why btc will never (and was never intended to) replace us$ were already explained here a thousand times

[Carlor]

Yes. And then?
For example, the US forbids bitcoin and punishes possession by death penalty, the Chinese, Russian, European will go on buying and using bitcoins (at a lower price of course at first ) And the US would be standing by as other people get richer and richer and nobody needs Dollars anymore.
If China recognizes the potential of BTC there is no way of stopping it. BTC is the chance to kill the US $.

Well, the question was "how to prevent people from a country to use bitcoin?" and I explained how.


If you think "how to make bitcoin useless?" or "how to stop the expansion of btc?" just wait a couple of years and do nothing
The reason why btc will never (and was never intended to) replace us$ were already explained here a thousand times

Ehm no. The question was "Let's say the a government wanted to completely shut down Bitcoin's use. How would they do it? "
And I'm pretty sure some people will be wondering what happened in a few years from now. Just think about the potential of bitcoin for China. It can end the international dominance of the $. But ok, you have a different opinion lets speak again in like 5 years

[beetcoin]

also: strictly enforce tax laws on selling BTC.

"plant" stories about the negative effects of BTC to get the public against it.

[Nik1ab]

It's impossible.

[5htp]

method 4
step 1: criminalize cryptocurrencies

This would not stop bitcoin. When has criminalizing ever stopped anything?

The best move for the government would be to get government agents working on the bitcoin protocol and sabotage it from the inside out 

[Carlor]

method 4
step 1: criminalize cryptocurrencies

This would not stop bitcoin. When has criminalizing ever stopped anything?

The best move for the government would be to get government agents working on the bitcoin protocol and sabotage it from the inside out

Right, and this is why 1) Dev's should come from everywhere in the world, not just the US (which is luckily already the case) and 2) code review.

[Gator-hex]

It's been centralized and controlled already by taking control of the ASIC supply.

Why do you think there is only a slow trickle of ASICs being available for the public.

See how Yifu Guo/Avalon was co-opted to work on identifying owners of Bitcoins and now we have private pools!

I don't think they want to destroy bitcoin, they want to control of it, you do that by owning 51% of the network.

[raspcoin]

method 1
step 1: seize all exchanges simulaneously
step 2: ban exchanges

People would still be able to trade bitcoins locally. Also, to have an effect, every major country would have to participate.