The U.S. Government Tried To Shut Down Bitcoin

[LeGaulois]

Sorry guys but before you continue the discussion, can you please check the source, because Forbes says "The US tried to shut down Bitcoin", the source says "Meet the former prosecutor asked to investigate bitcoin who became the face of crypto VC investing"

True the White house was investigating (but like many others countries), both titles are differents, Forbes uses a clickbait title, the real news is about a lady who worked for the government and with her professional carrier she is now sitting as a partner at a VC firm with $350 millions in cryptocurrencies.

Here is the basic history. https://www.cnbc.com/2019/10/06/meet-the-former-prosecutor-who-became-the-face-of-crypto-vc-investing.html
An article to promote the lady...

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[Kemarit]

Sorry guys but before you continue the discussion, can you please check the source, because Forbes says "The US tried to shut down Bitcoin", the source says "Meet the former prosecutor asked to investigate bitcoin who became the face of crypto VC investing"

True the White house was investigating (but like many others countries), both titles are differents, Forbes uses a clickbait title, the real news is about a lady who worked for the government and with her professional carrier she is now sitting as a partner at a VC firm with $350 millions in cryptocurrencies.

Here is the basic history. https://www.cnbc.com/2019/10/06/meet-the-former-prosecutor-who-became-the-face-of-crypto-vc-investing.html
An article to promote the lady...

I totally agree, the title is very misleading, I think the lady has move on after 2012 and obviously she really understand that there's no way that crypto couldn't be stop before. And now look at here, sitting on a VC firm with a lot of capital and she could really turn it into a billions with here experience. I guess this is just another example, how crappy and shitty are crypto journalist are (yes, I know we have been seeing this for years), but this one is very obvious so say the least.

[ecnalubma]

Its very important to read the whole story before we can react on the article  but given the fact that if its true I think it will be hard for the Government to shutdown Bitcoin, I should say its too late for them now that it is used accross continents. Its a myth that they can control this type of asset, only harsh regulations they can impose.

[magneto]

Is this surprising at all? We've long knew that governments around the world would start looking at trying to stop BTC from growing sooner or later, and it turned out that they had their eyes on that goal a lot sooner than people expected.

Of course, it's just not enforceable no matter what kind of bans they try to impose on BTC, because it is ultimately decentralised. Regulations and restrictions can only go as far as regulated exchanges and businesses go, and not to the actual blockchain ledger itself.

"What we heard with libra were the same criticisms [I'd first heard about bitcoin]" Haun said.

"They were just heightened and they got more attention because of the high-profile nature of the project and the fact that Facebook was involved. I think it would be a really dangerous thing, and frankly a dangerous precedent to start shutting down technology before it’s built."

The difference between BTC and Libra is decentralisation, which makes Libra easily prosecuted by governments, which will likely to happen. That's why I'm pessimistic on Libra's chances.

[mu_enrico]

If the US Government really tried, they would have used coercion tactics. They have done it in the past with gold (read Executive Order 6102).

At the moment, I think the US Government didn't see Bitcoin as a threat to their national interests.

[audaciousbeing]

Of course. Its an open secret. Over the years several forms of currency have been promoted and they have found a way to shut it down. Liberty reserve comes to mind. What the man was made to go through and even plead guilty to some charges in his own widest dreams never thought exist but eventually he has to cave in. The irony here is that, its not only the US government, its every governments of the world that would have tried one thing or the other to shut down whatever that they feel will threaten the peaceful co-existence that they have come to enjoy and its that simple. I have read governments clamp down protesters, even their organisers slammed with treason for attempting to overthrow a sitting government how much more a currency that could whittle down government influence and there really no one to be held accountable. Shutting down becomes the best alternative.

[alyssa85]

If the US Government really tried, they would have used coercion tactics. They have done it in the past with gold (read Executive Order 6102).

At the moment, I think the US Government didn't see Bitcoin as a threat to their national interests.

Or they've decided bitcoin is actually a help to their national interests, in that it might undermine other fiat currencies but not the dollar.

Given the US-China rivalry and the fact that so many Chinese were using bitcoin to get their money out of China, the Americans might have concluded that bitcoin was an ideal tool to undermine the yuan and prevent it becoming a reserve currency.

[Strongkored]

Well, I'm not an US citizen, news like this will continue appear not only for US but also news from other countries that will say so, but what we see is only news from media not officially that has been conveyed by the government officially.
Those who continue to say about shut down BTC who only see the BTC from the price and also price fluctuating.

[Google+]

I hope this is just fake news that usually often circulates on the internet when the price of bitcoin rises, traders must understand if this can be fake news and don't easily panic so you don't lose.
Market conditions are starting to improve so follow the flow and let's bring the price of bitcoin to the moon.

[dengpei]

I hope this is just fake news that usually often circulates on the internet when the price of bitcoin rises, traders must understand if this can be fake news and don't easily panic so you don't lose.
Market conditions are starting to improve so follow the flow and let's bring the price of bitcoin to the moon.

You are right there, there is a need to verify news before making a decision because we are in the era of fake news. Anyway even if the news is correct it can only affect the price of the coin for a while only and price correction happens soon after the news goes stale.

[SaShiRaJaVu]

It's super interesting how these negatively tinted articles always find their way to the net when the price has been trending down. 

That is the magic receipe for the price to fall further, we have seen those articles at the right moment when there is a minor correction and all these negative articles pops up and the price would fall further, just repeating the old drama  .

It must feel great for any government to hammer down on these centralized tokens simply by subjecting them to regulations, something they can't force upon Bitcoin.

It is a fact that if they give a green signal to Facebook then they know very clearly that they will get thousands of application from every fin tech corporate to start their own centralized token and it will create issues beyond imagination and probably will open a can of worn that cannot be repaired  .
Even i expect there will be a ton of regulation and stipulation if they release Libra.

[Genemind]

I don't actually believe in this type of news. Yes, the government is somehow seeing Bitcoin as a threat but the US is really into crypto adoption. If it really happened, maybe the government might have done something to stop it because it might impulse terrorism but maybe after seeing its worth, things have changed and the government is into supporting it right now. We really don't know the story behind but it's still hard to believe complex news without proof.

[South Park]

Well, if they failed in their earlier attempts, they will also fail in their subsequent attempts. If they are really determined to kill Bitcoin, they should have done it with much force when Bitcoin was a small infant in its crib. But because they failed on that and Bitcoin has grown into a strong young man after 10 years, they are admittedly helpless now. They are claiming Bitcoin to be unstoppable already.

And because of that they are now shifting their focus to unborn projects that might become as strong as Bitcoin in the future. Lest they will become as helpless as they are now over Bitcoin when they will allow the kinds of Libra to proceed. This is precisely the reason why unborn projects such as Libra, walmart's, Apple's, etc are nipped in the bud.

I suspect this was the reason satoshi decided to release his project by himself and decided to not reveal his identity, anyone that tries to release their coin will become a target, and this is what caused bitcoin to thrive, it was created in a way that brought no attention from the governments and it was not given to it until it was too late, now governments are desperate, they know that bitcoin is not a threat to them now but it can be in the future and they have no power to stop it.

[blckhawk]

I think the government and the media wants to influence the minds of those who still don't have an idea to what cryptocurrencies really is. They want to prevent mass adoption by saying negativity about these cryptocurrencies first before people even have the chance to research their true idea. It's no surprise that the government tries to supress its spread since they know what it can do to change the current centralized systems and it isn't limited to payment, but csn also include public cloud storage for different applications, even in politics.

[Periodik]

Well, if they failed in their earlier attempts, they will also fail in their subsequent attempts. If they are really determined to kill Bitcoin, they should have done it with much force when Bitcoin was a small infant in its crib. But because they failed on that and Bitcoin has grown into a strong young man after 10 years, they are admittedly helpless now. They are claiming Bitcoin to be unstoppable already.

And because of that they are now shifting their focus to unborn projects that might become as strong as Bitcoin in the future. Lest they will become as helpless as they are now over Bitcoin when they will allow the kinds of Libra to proceed. This is precisely the reason why unborn projects such as Libra, walmart's, Apple's, etc are nipped in the bud.

I suspect this was the reason satoshi decided to release his project by himself and decided to not reveal his identity, anyone that tries to release their coin will become a target, and this is what caused bitcoin to thrive, it was created in a way that brought no attention from the governments and it was not given to it until it was too late, now governments are desperate, they know that bitcoin is not a threat to them now but it can be in the future and they have no power to stop it.

And since Mark is an open target unlike Satoshi, he is now invited to countless hearings. He has to appear in countless meetings and investigations and what not and not just within the US but also in other countries around the world. Satoshi was indeed a genius. He knew what is to come with his invention, and he was completely prepared for it right from the get-go. He was not someone the governments can easily track and identify.

[ivakar]

i knew all problems for the world comes form us 
but actually this is very disturbing information, cause that means if several country will combine its efforts to shutdown bitcoin or any other crypto coin, the could, in fact, succeed in their mission.

and that would be the end of the crypto as we know it. 

[stompix]

Can't see anywhere that US tried to shutdown Bitcoin on the article, I see it as plain interpretation or something like exaggerated writings to catch peoples attention.  

Of course, she needs some attention, she works for a crypto fund now, they have to pull out stories and keep standing in the spotlight otherwise the bear season is going to get them.

"They said 'we have this perfect assignment for you'–there’s this thing called bitcoin and we need to investigate it," Haun told CNBC in a wide-ranging interview, adding a colleague asked her to take down bitcoin.

Of course, let's totally ignore the name of the colleague because if she does that coleue might sue her for lying. 

True the White house was investigating (but like many others countries), both titles are differents, Forbes uses a clickbait title, the real news is about a lady who worked for the government and with her professional carrier she is now sitting as a partner at a VC firm with $350 millions in cryptocurrencies.

I would call it a paid clickbait article...
Seriously, lately, all the articles from those people are screaming look at us, we're cool, gives us money!!!!
I'm anxious for the "Cryptos might revive Elvis"  article.

[abhiseshakana]

The style of economic and political policy in the United States has indeed changed since the shift in power from Obama to Trump. Trump with the policy of making America great again "always takes controversial decisions. For Trump make American first is his main focus, so that America seems arrogant and isolates his own country.

When the U.S. wants to become the ruler of the world, America must reduce its dependence on others, commitments that are felt to limit the movement of America will also be violated. America also has to intervene in every field so that if there are potential problems that will interfere with America can be minimized or even avoided.

Bitcoin and cryptocurrency are something that Trump cannot control. It has its own system that is beyond American control, Trump can avoid but cannot stop. There are no eternal friends and enemies but only eternal interests. Trump sees cryptocurrency as a threat to America and a gap for America's enemies to intervene in America unnoticed.

[cutesgirl]

US government always try for shut down bitcoin and never give space for their people become with bitcoin and altcoin investment, many ICO not allowed for investor come from United State because their government never allowing for US citizen invest on ICO or IEO, on the bounty campaign many KYC submit do not support for United State person.

[redsun114]

I would not be surprised if US had a hand in this recent crash of bitcoin, and I think that have a mole in the market who would definitely be a mole looking for every opportunity to crash the market and every attempt they have been making had failed. I am sure this recent crash too was timed, as we all expected that the bakkt would have effect on bitcoin price, but only for us to witness a crash after their released.

Don’t we think that this is a perfect conspiracy too to discredit the project of bakkt who would have made very much impact on bitcoin, and it seem that they really succeeded in destroying bakkt as we no longer hear news on bakkt again, the hype has gone down, but no matter what they do, now or in future, it would be impossible for bitcoin to be shut down, and the more they try, the more they get it increased.