The U.S. Government Tried To Shut Down Bitcoin

[iv4n]

I can`t remember exactly where I read about it, but someone was claiming that most of the countries, different hackers groups, etc.. already tried to shut down bitcoin network, and guess what, nobody succeeded. I remember that I tried to find more about that, but I couldn`t find anything. Truth or not, I can`t tell, it`s logical to assume that some groups tried to do that, to hack bitcoin, with the purpose to control it or to shut it down. By the present state of bitcoin we can assume that nobody succeeded in that, bitcoin is still alive and well. Will they be able to do it in the future? I doubt it, it`s pretty hard to beat the fact that there are many nodes out there, any messing with the chain will be recorded at least on one place, if not on many.

[1715025784]

1715025784

[1715025784]

1715025784

[1715025784]

1715025784

[1715025784]

1715025784

[1715025784]

1715025784

[1715025784]

1715025784

[beerlover]

I think other countries didn't looked into "shutting it down", nobody is that scared of bitcoin, they tried to probably ban bitcoin in their own country because they know they can't ban it all together and probably China and Russia looked into a way to control it as well because they are used to controlling everything but they realized this is something they can't control like they do with everything else.

Those are it probably, just a way to control it and a way to ban it in their countries but nobody looked into "shutting it down" that is like trying to say shutting down the whole internet all around the world, it is not possible and it can't be done no matter how much countries get together to do it together there would still be some people with internet.

[Reid]

They have two problems regarding this. But yes, they do want to shutdown bitcoin but just can't.

First problem is they do not like bitcoin because it is decentralized. That means privacy and freedom which they dont want. Everything must be under control.

Now, they want to fight it with a centralized one.
The second problem comes.
Suckerberg offers Libra. But he freaking still freaking own it and the government doesnt want that. It will just keep Mark getting more greedy.

Third problem comes now.
They will create their own but nobody supports it.

[Maslate]

They have two problems regarding this. But yes, they do want to shutdown bitcoin but just can't.

First problem is they do not like bitcoin because it is decentralized. That means privacy and freedom which they dont want. Everything must be under control.

Now, they want to fight it with a centralized one.
The second problem comes.
Suckerberg offers Libra. But he freaking still freaking own it and the government doesnt want that. It will just keep Mark getting more greedy.

Third problem comes now.
They will create their own but nobody supports it.

US government has been in contradiction with crypto even from the start and the fact that they can't control bitcoin just like they did with dollar, so they will do things that could possibly shut down bitcoin. But they can't easily shut down bitcoin because there are still a lot of believers and users of bitcoin who will continue to believe on it. They can banned bitcoin in their own country but shutting it down will never happen.

[gentlemand]

This crappy article doesn't illuminate anything. There's plenty of wariness and scepticism about BTC from the US government but little evidence of any sustained assault. The recent Libra hearings were overall positive about it I'd say.

As for Tim Cook - "I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,"

No private group will ever be permitted to set up a competing currency and Libra will never happen, nor any other similar thing. Luckily totally open groups can.

[timerland]

I saw the article in my Google feed a couple days back and had a read, it looks like it's really scrappily made and they don't actually have any real information/proof and it's just here to clickbait users into reading the article.

Tim cook is a weird fella. I don't agree with his views at all and he is too government oriented and isn't as free thinking most of the Bitcoin community is.

Think most of us got baited hard.

[jaocoincrypto18]

The source is legit so i think the US really want to shutdown Bitcoin but maybe by Donald Trump demand. We all knows about Trump openly criticize Bitcoin so maybe he is now using his power to shutdown it slowly in the way that looks like nothing happen but failed so hopefully he realized it now that it is not that easy to destroy Bitcoin and that he may ended up like JP Morgan.

[20kevin20]

The source is legit so i think the US really want to shutdown Bitcoin but maybe by Donald Trump demand. We all knows about Trump openly criticize Bitcoin so maybe he is now using his power to shutdown it slowly in the way that looks like nothing happen but failed so hopefully he realized it now that it is not that easy to destroy Bitcoin and that he may ended up like JP Morgan.

You're a great example of somebody who blindly trust a source just because it's one of the top mass media websites in the USA.. It's obviously their dream to take BTC and the entire crypto market down. Otherwise, people will not only become richer as the recession gets closer but they'll also get the taste of economical freedom. That scares them institutions for sure, and they don't want to loose us.

[stompix]

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.

A small flaw in your speech against Trump. (not that I like the guy).
This supposed incident, which I doubt it even happened, took place in 2012, 3 years in the first presidency of Obama.

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.

Oh, the evil usa fascist gubbermint is not allowing its citizens to lose money in scam ICOs and only to buy bitcoins.
The perfect plan to bring down BTC. Thanks for showing me the truth, I would have never guessed it since it was such a well thought and elaborated scheme.

[gentlemand]

It's obviously their dream to take BTC and the entire crypto market down. Otherwise, people will not only become richer as the recession gets closer but they'll also get the taste of economical freedom. That scares them institutions for sure, and they don't want to loose us.

Evidence, please.

They are right to warn people about it and right to be sceptical. Plenty of people will either rape themselves or get raped.

I've yet to see any actual malicious acts against it. They're trying to get it to fit in current laws as they would for anything else. It may not work but that's their job.

[ashmodeus]

well, first china , then now U.S.A , btc fail to get approval from SEC and this the end of story.
what i curious is , both china and USA ,have a lot of miners there.
and why they try to shut down BTC ?
US have a large companies engaged in the field of cryptocurrency, such as coinbase and bittrex.
Are the tax regulations not so beneficial for the government?

[TheUltraElite]

The source is legit so i think the US really want to shutdown Bitcoin but maybe by Donald Trump demand.

Wont do be so sure about it. Trump knows the current market scenario and though he may not accept bitcoin into the government mode of payment he wont try to stop it. They more or less know who and how are using bitcoin and though they dont attempt to stop it they wont punish you for it.

We all knows about Trump openly criticize Bitcoin so maybe he is now using his power to shutdown it slowly in the way that looks like nothing happen but failed so hopefully he realized it now that it is not that easy to destroy Bitcoin and that he may ended up like JP Morgan.

Like I said, you are thinking too much. Remember the fact that Trump was the owner of several casinos in Vegas. He knows how to make money and possibly knows the importance bitcoin has.

You should do some research before accepting a news that pops up. Its said in the first line that its from the conspiracy theorists. Those who make up conclusions without having evidence or just false/fabricated evidence in order to raise a propaganda.

[gentlemand]

well, first china , then now U.S.A , btc fail to get approval from SEC and this the end of story.

Really?

Nothing to do with the Bitcoin market being incapable of fitting the SEC's remit? If it did fit perfectly then they probably would approve it, albeit reluctantly. Since it doesn't and can't be made to fit then they won't approve it.

Crypto won't receive any exceptions or charity. Because of its nature it's going to have to work to gain acceptance from places like the SEC and the likelihood is it may never manage it. It's also likely that's totally fine. In the meantime it has plenty of its own markets to be getting on with.

[BitHodler]

It's obviously their dream to take BTC and the entire crypto market down. Otherwise, people will not only become richer as the recession gets closer but they'll also get the taste of economical freedom. 

I agree with the point that governments don't want people to enjoy economical freedom, but that's not why they are trying to "shut down" crypto. I even doubt that they have such intentions to begin with.

Nearly the whole crypto market disregards the sole reason of why it exists, so what are governments really afraid of? People still trust centralized parties---parties governments can easily exercise control over. They like it more than they don't.

As for people getting rich during a recession, I really really doubt that---recessions generally take down any asset with it, where the speculative assets are being hit the hardest. Bitcoin is a speculative asset too.

[Murat]

It's not an easy task to shit down this platform, I think this platform has formed in a vast way, Billion dollar has been invested in this platform so to shut down is not only easy task but also it will bring a massive loss for the economy all around the world, In this perspective, The US government will not try to do this, Yes, they are very reluctant to run this platform in the future, even they are trying to stop initiative of Facebook's own digital currency named Libra, So every cryptocurrency is concern for the US authority, But it doesn't make any sense, If they could then they did it very earlier of Bitcoin invention, I think they will not do and they will not be capable to do this in the future.

[20kevin20]

Evidence, please.

They are right to warn people about it and right to be sceptical. Plenty of people will either rape themselves or get raped.

I've yet to see any actual malicious acts against it. They're trying to get it to fit in current laws as they would for anything else. It may not work but that's their job.

I don't think there's the need of evidence. Bitcoin eliminates the need of third parties, it's supposed to eliminate the state from the process too. I highly doubt any leader is okay with it taking even a little piece of the state's power away.

I agree with the point that governments don't want people to enjoy economical freedom, but that's not why they are trying to "shut down" crypto. I even doubt that they have such intentions to begin with.

Nearly the whole crypto market disregards the sole reason of why it exists, so what are governments really afraid of? People still trust centralized parties---parties governments can easily exercise control over. They like it more than they don't.

As for people getting rich during a recession, I really really doubt that---recessions generally take down any asset with it, where the speculative assets are being hit the hardest. Bitcoin is a speculative asset too.

I couldn't agree more with the second paragraph there, and it's kinda sad to see it's turned into an all-about-money thing. But while recessions do take down any asset with them, the price of gold soars as it's considered a safe haven asset. It's yet to be seen whether Bitcoin would be considered the same during such times.

[ajaymukund]

Personally, I feel Americans are saying this right about it. Have you always thought that creating a business in the crypto market is lucky and certainly profitable?
no, please. Working in the crypto market is much harder than businesses in the stock market. In some exchange exchanges, they will have laws to prevent manipulation. As for the crypto market, it is decentralized and businesses are not guaranteed.
If Facebook wants to create their own coins, don't they have the right to launder money and manipulate the market? Remember, the SEC has not yet entered the crypto market.

[iMark]

Personally, I feel Americans are saying this right about it. Have you always thought that creating a business in the crypto market is lucky and certainly profitable?
no, please. Working in the crypto market is much harder than businesses in the stock market. In some exchange exchanges, they will have laws to prevent manipulation. As for the crypto market, it is decentralized and businesses are not guaranteed.
If Facebook wants to create their own coins, don't they have the right to launder money and manipulate the market? Remember, the SEC has not yet entered the crypto market.

Every statement and policy of the US government always has a strong foundation and reason. Yeah, that could be a reason for them to at least put a halt to the development of bitcoin. I also admit that crypto business and investment are far more risky than the stock market. there are a lot of manipulations, coin scams, scam projects and so on, which is such a case rarely in centralized investments like in the stock market. The SEC has not yet come then make crypto investments have no legal basis, but to shutdown bitcoin is not the way out.

[cryptoknightt]

bitcoin can never be controlled by any government so i think the U.S government will never be able to beat bitcoin, bitcoin will still exist and bitcoin will still have a high selling price.

[Dr.Osh]

I think the US government has always challenged the development of bitcoin. Well, there are a lot of reasons why they can reject it, such as increasing unwanted transactions, terrorists, and others. In fact, Coindesk has also talked about this matter. Well, if the needs of people about bitcoin increase, I think that will be the usual news. I just hope that this won't make the price of bitcoin decrease