Will Bitcoin collapse by a global government crackdown?

[Sebas.tian]

If all county ban bitcoin nation wide,is like bitcoin will start on loosing in the memory of all people because no one can use bitcoin because of the ban.

That is, if they can ban it properly. The only means of the government for banning it is to shutdown exchanges in their respective countries. So if people really wanted, they could still use even if its monetary value isn't much. Take eth for example. I'm pretty sure it would be used even if it goes back to 3$ with its smart contract capabilities.

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[Abiky]

Its almost impossible for government to shut down the internet. What government can do is only banning or prohibiting bitcoin transaction. But government must be want to take benefits from bitcoin by collecting taxes from bitcoin transaction or cryptocurrency market

That's certainly true, mate. Given how big Bitcoin and other cryptocurrencies have become, it's nearly impossible for any government to shut them down. Of course, governments will try their best into stopping the usage of Bitcoin worldwide. But the decentralized design of Bitcoin, will keep it going for many years to come. Nowadays, it's widely possible to support Bitcoin within alternative networks (like Tor and i2p). Even if such networks become compromised, there's always the possibility of running a private network.

Despite this, it's very unlikely that there would be a global government crackdown in the future (except when something drastic happens). Many governments have already been taxing Bitcoin and other cryptocurrencies. Which means, that they've seen these alternative medium of exchange very beneficial to them. Within a few years from now, it's hoped that Bitcoin and other cryptocurrencies become a legal form of payment worldwide. Just my thoughts

[gabmen]

The possibility of a government crackdown on bitcoin is unlikely,only legal ones can make bitcoin worse other.We think in a positive way for bitcoin.

The government will act by issuing regulations that can make bitcoin die, if bitcoin is used by criminals and terrorists. But the government will also give the opportunity for bitcoin to develop and become a digital currency that is really needed by the community.
Of course there are several requirements that must be fulfilled by Bitcoin, among others, can contribute to the progress of society, income and avoid use by criminals.

Regulations aren't there to make bitcoin die but to lessen the compromises especially when it comes to security. I'm pretty sure it can start mass adoption with people gaining  confidence in making investments. We need government support if we are to progress. One thing crypto can't afford is a worldwide crackdown.

[Abiky]

It will be very difficult for btc to compete against governmental rejection. Unless it has been provoked by government itself, btc won't survive in conditions of political disapproval, on a global scale.

Perhaps, it will survive after all. With the available technologies today, Bitcoin can stand the test of time via alternative networks and devices. If governments become too oppressive against Bitcoin, then one could easily support the BTC blockchain by other means (whenever in a P2P or in-person fashion, or via the use of Tor, i2p, or even ZeroNet). Still though, the most important thing is that Bitcoin remains as decentralized as possible to be able to withstand the most disrupting attacks within the future.

Given how big Bitcoin has grown today, it may be very unlikely that a global government crackdown would become successful in the not-so-distant future. The open-source and decentralized nature of Bitcoin has allowed it to "copy" itself into other crypto projects (Bitcoin forks) that live on their own. In the event Bitcoin becomes threatened, it could survive as another blockchain network or as the same blockchain within a private or alternative network.

Therefore, the odds for a crackdown happen is zero to none. Time will tell us what lies ahead for the future of Bitcoin as a decentralized cryptocurrency for the mainstream world. Just my thoughts

[senin]

With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.

As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.

Nonetheless, what are your thoughts about this?

While the intentions of governments to unite in order to ban, or even limit the circulation of cryptocurrency, is not planned. On the contrary, the reverse trend is likely to occur. As can be seen from another topic in this section, 111 states actually recognized the circulation of cryptocurrency as legal and only in ten states are considered illegal. So there is no reason yet to fear that the government may unite to prohibit the circulation of cryptocurrency.

[0t3p0t]

The Internet is controlled by ISPs which are subject to government demands.

We can simply use an encrypted internet connection to connect the node. Use something like dnscrypt for example, and you can connect again with other nodes. I'm not really sure the government wants to ban Bitcoin (blocking their connection) because it's just a waste of resource. They might try to shut down any cryptocurrency exchange though so that people won't be able to cash out. But we can still trade offline, or use something like Bisq.

I don't think government crackdown will happen, but if it does, I believe we can find a solution for that.

I agree. If governments has advancements the crypto community will also having such advancements and it could be more than that. Governments can only regulate local exchnages not Bitcoin itself they might implement a total ban on it but still we are able to use it with secrecy as every problem there will always be a solution. Not all governments are against Bitcoin so I think it is to hard for them to shut down Bitcoin.

[LUCKMCFLY]

Well, in my opinion I do not think so, considering that Bitcoin has many enemies that always attack with the intention of knocking it down. But there is a very important detail, this market does not depend on governments or third parties, this is a market that is completely represented by Supply-Demand, is governed according to those principles and escapes completely from the hands that want to take advantage of technology.

There are institutions and people that handle a large amount of money flow, some bet directly on this market, because they see a lot of potential and structure to take it as a way of making trading.

Very deeply there are people who work behind the curtain, some miners, people who build their castles in the air and are prepared to respond with a lot of capital if they see their investment at risk.

[Pab]

There is not something like global government
Governments in most countries are changing every few years
 Government in any democratic country don't create the law
It is legislation procedure to create law in democratic country
There are countries what are not so much friendly for bitcoin and we can imagine that banking industry will like to create kind of regime but it will create rebel immediately
Tell me also how will be possible for anybody to crackdown bitcoin
Bitcoin belongs to internet and it can be to costly to shutdown or limit internet in whatever way

[fianaindriati]

Bitcoin is keep stronger without support by government, how ever last two year when bitcoin raised at higher price no one country have support for bitcoin become legal transaction, we have wait for bitcoin have on first position price.

so far, bitcoin is still the number one coin and a strong coin so far. although sometimes every country's government has not agreed to bitcoin. but the strength of bitcoin is still increasing.

[sapnu]

With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.

As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.

Nonetheless, what are your thoughts about this?

There are actually so many reasons why bitcoin and other cryptocurrencies collapsed, one is because of the bull run that triggers so many holders and investors sell their holding of other crypto for them to have bigger profit. Also they said that big whales are holding buying and selling it every time that makes the price to collapse and dump so far.

[Innerpumper]

I do not know, however, I think the belief cryptocurrency against the investors should be increased again, as well as, it's good news if FUD is reduced. It is possible that the Government does not like the system because of the bitcoin bitcoin can never be dikuasi by anyone because of the decentralized nature.

[tunapa]

These is part of the things that mostky caused the massive drop of bitcoin and other cryptocurrency prices. And the media really made a lot of this with many different headlines of banning and the likes which scared many people away and made many to sell at loss . Crackdown won’t happen at this stage because there is many involvement even from some government individuals and arms. So personally it’s not what we should be bothered about. We should only look forward to adoption and regulations to effect use cases.

[Gaff]

With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.

As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.

Nonetheless, what are your thoughts about this?

There are actually so many reasons why bitcoin and other cryptocurrencies collapsed, one is because of the bull run that triggers so many holders and investors sell their holding of other crypto for them to have bigger profit. Also they said that big whales are holding buying and selling it every time that makes the price to collapse and dump so far.

With respect to Government itself, there's now way for cryptocurrency to collapse as long as fiat is concerned at all. The value of bitcoin depends also on how the fiat economy also circulates it's demand, that's why if government prohibits crypto; people can't transact freely. Freedom cannot be enjoyed when there's strong regulation and when government is going to crackdown crypto, they can't penetrate blockchain network so digital currency remains intact and safe. There's should be separation of government and crypto, that's why even if Government will try to demolish crypto people can still use the system without any barriers due to anonymousity.

[Abiky]

While the intentions of governments to unite in order to ban, or even limit the circulation of cryptocurrency, is not planned. On the contrary, the reverse trend is likely to occur. As can be seen from another topic in this section, 111 states actually recognized the circulation of cryptocurrency as legal and only in ten states are considered illegal. So there is no reason yet to fear that the government may unite to prohibit the circulation of cryptocurrency.

So far, some governments have been against each other, which proves the lack of agreement among the same. It'll be hard for all the world's governments to threaten the very existence of Bitcoin and other cryptocurrencies. Even if it does happen (which is very unlikely), people will resort to other means in order to support the longevity of cryptocurrencies. Until now, Bitcoin has been very beneficial to governments for taxing purposes.

Which means that Bitcoin and other cryptocurrencies will be here to stay for that very reason. As with any technology, Blockchain tech is a double-edged sword. It can be used for both legal and illegal purposes. As such, Bitcoin's legitimacy would prove itself with proper regulatory measures from governments worldwide. Only then, Bitcoin will be here to stay for many generations.

Nonetheless, while a massive government crackdown is highly unlikely now, Bitcoin's existence could be at risk in the event of a global catastrophe (such as the Internet shutting down, global power outage, etc). Just my opinion

[Stac]

  From the beginning of Bitcoin transactions there have been several doubt regarding trading and mining of Bitcoin these all are because of ignorance .Among that doubt there arise a doubt whether Bitcoin will collapse by global government crackdown it is a false belief if a crackdown to happen the whole computer system have to be stopped this cannot be applicable because countries in the global system have accepted Bitcoins in this modern world nothing can be operated without a computer and internet system all the h-tech companies will have to be stopped .if and that will be a waste of resources .if exchanges are banned people will not be able to cash out but still can trade offline .

[Abiky]

From the beginning of Bitcoin transactions there have been several doubt regarding trading and mining of Bitcoin these all are because of ignorance .Among that doubt there arise a doubt whether Bitcoin will collapse by global government crackdown it is a false belief if a crackdown to happen the whole computer system have to be stopped this cannot be applicable because countries in the global system have accepted Bitcoins in this modern world nothing can be operated without a computer and internet system all the h-tech companies will have to be stopped .if and that will be a waste of resources .if exchanges are banned people will not be able to cash out but still can trade offline .

There's always a workaround for everything. If governments become too oppressive towards Bitcoin, then people will find a way to continue supporting and trading it. There's no secret to this. However, such situation may be highly unlikely to happen since governments have seen Bitcoin and other cryptocurrencies as a benefit to them for taxation purposes. If Bitcoin can be taxed easily, then governments will have a friendly approach to it.

A global government crackdown would be hard to achieve, as Bitcoin is distributed across many computers worldwide. The whole Internet as we know it would need to shut down completely, in order to have a negative impact over Bitcoin. Even so, Bitcoin can be used via alternative methods such as a private network or anonymity networks (like Tor and i2p). It all comes down to whenever the people have the desire to continue supporting Bitcoin at its fullest when adverse situations occur. Just my thoughts

[kyucryp]

the beginning of the crypto currency was born in this world has received rejection from all over the world because it would threaten the existing currency. however, over time each country has made use of this currency. and to date, crypto money has been able to survive even though it often suffers from negative issues. and advertisements about crypto currencies were banned from being posted on Google and Facebook. but this currency can survive until now. so this currency will continue to grow and last until any time.

[asus09]

With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.

As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.

Nonetheless, what are your thoughts about this?

I think differently from you.
I am sure that in time, crypto will be adopted by all countries in the world along with the development of the era, especially in technological matters.
and the global government's problem with banning, is just as big and most of it is wanting to monopolize the crypto trade.
for example, JP Morgan strictly prohibits bitcoin and crypto but eventually they adopt crypto even though it does not have its characteristics

[Argoo]

With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.

As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.

Nonetheless, what are your thoughts about this?

There is no reason for panic. Most large and influential states accept and legalize cryptocurrency. While not quite clear position on this issue in China. There, as always, they are looking for their own way to mastering cryptocurrency.
I think that we have already passed the point of no return on this matter. The main thing is that people appreciated the advantages of cryptocurrency and, given this, governments will not be able to completely ban the circulation of cryptocurrency.

[shesheboy]

I think people will invent new ways of using it and its price will rise up and it will be used like a drugs.

new ways of using it ? bitcoin already being used on almost any thing  .  i dont think that there will be another new way of using it  .  price hike will only depend on the demand and on other factors  .  lastly , bitcoin is already being used to buy a drug before on the deep web  .

Not sure what any government would gain by banning crypto when you can tax it.

if government ban crypto they can gain nothing but they think that its much better than not banning it at all because they are afraid that people will stop using fiats  .