The U.S. Government Tried To Shut Down Bitcoin

[k@suy]

They can't shut down Bitcoin as they cannot control it and they can only control their citizens when it comes to Bitcoin so no wonder why Americans cannot participate into ICO's , have few exchages when they can trade , they have taxes on cryptos ..basically USA doesn't want population to use Bitcoin and cryptocurrencies and now they are trying to shut down Libra's project.

I don't know what to think about them ...looks like they are loosing this racer every day and China takes over slow and steady. I hope that in the end all the world will acknowledge the power of Bitcoin and Blockchain because there is no progress without it.

Yes they cannot shutdown it, people will do their way so that government cant stop them. There are other countries as well that prohibits their citizens to use and purchase bitcoin but still people continues to have it. If their network provider ban any bitcoin sites still they can browse to it, if they know how to surf with other ip address that cannot be block by their networks.

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[Oneandpure]

see

https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#58419a821966

Bitcoin conspiracy theorists have long suspected the U.S. government, among others, would like to shut down bitcoin.

Bitcoin's first decade has seen its price explode, making early adopters overnight millionaires, and prompting some of the world's biggest technology companies to create their own versions of bitcoin.

Now, it's been revealed federal prosecutor-turned bitcoin and cryptocurrency expert Katie Haun was asked to look into "shutting down" bitcoin by her boss at the U.S. attorney’s office in 2012.

"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.

"That was the first time I’d ever heard of bitcoin."

Over the next few years Haun would go on to sit on the board of U.S. bitcoin and cryptocurrency exchange Coinbase and teach a class on cryptocurrency at Stanford Law School.

Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, "it would have been akin to saying ‘let’s go prosecute cash.'"

Haun, who is now the first female general partner at U.S. venture capital firm Andreessen Horowitz and co-heads its $350 million cryptocurrency fund, has worked closely with social media giant Facebook in development of its troubled libra cryptocurrency project.

U.S. government opposition to bitcoin and cryptocurrencies has become far more transparent since Donald Trump entered the White House.

Earlier this year, U.S. president Trump sent shockwaves throughout the bitcoin and cryptocurrency industry when he tweeted a vicious attack on Facebook's bitcoin rival plans, branding it and bitcoin "unregulated crypto assets."

Others in the U.S. government were quick to tow the line, with U.S. Treasury secretary Steven Mnuchin adding his voice to the assault on bitcoin, Facebook's planned Libra crypto project, and other cryptocurrencies, warning they pose a "national security" risk to the country.

Elsewhere, Apple chief executive Tim Cook has warned companies against creating their own cryptocurrencies.

"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."

Facebook's libra has been under fire over the last week, with internet payments company PayPal, one of the Libra Association's founding members, suddenly pulling out of the group on Friday.

Mark Zuckerberg, Facebook founder and chief executive, had hoped to work with global regulators to clear libra's path to launch in June 2020 but appears to have underestimated the level of opposition to the scheme.

Don't worry if US government want to shut down bitcoin because still have bigger country want to adopt and legal using bitcoin transaction, China want to make bitcoin become their payment transaction and President of China have ask to their economic minister to adopt and legal using bitcoin and altcoin as transaction payment, they will give positive way for bitcoin and altcoin in China.

[daianapotter]

see

https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#58419a821966

Bitcoin conspiracy theorists have long suspected the U.S. government, among others, would like to shut down bitcoin.

Bitcoin's first decade has seen its price explode, making early adopters overnight millionaires, and prompting some of the world's biggest technology companies to create their own versions of bitcoin.

Now, it's been revealed federal prosecutor-turned bitcoin and cryptocurrency expert Katie Haun was asked to look into "shutting down" bitcoin by her boss at the U.S. attorney’s office in 2012.

"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.

"That was the first time I’d ever heard of bitcoin."

Over the next few years Haun would go on to sit on the board of U.S. bitcoin and cryptocurrency exchange Coinbase and teach a class on cryptocurrency at Stanford Law School.

Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, "it would have been akin to saying ‘let’s go prosecute cash.'"

Haun, who is now the first female general partner at U.S. venture capital firm Andreessen Horowitz and co-heads its $350 million cryptocurrency fund, has worked closely with social media giant Facebook in development of its troubled libra cryptocurrency project.

U.S. government opposition to bitcoin and cryptocurrencies has become far more transparent since Donald Trump entered the White House.

Earlier this year, U.S. president Trump sent shockwaves throughout the bitcoin and cryptocurrency industry when he tweeted a vicious attack on Facebook's bitcoin rival plans, branding it and bitcoin "unregulated crypto assets."

Others in the U.S. government were quick to tow the line, with U.S. Treasury secretary Steven Mnuchin adding his voice to the assault on bitcoin, Facebook's planned Libra crypto project, and other cryptocurrencies, warning they pose a "national security" risk to the country.

Elsewhere, Apple chief executive Tim Cook has warned companies against creating their own cryptocurrencies.

"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."

Facebook's libra has been under fire over the last week, with internet payments company PayPal, one of the Libra Association's founding members, suddenly pulling out of the group on Friday.

Mark Zuckerberg, Facebook founder and chief executive, had hoped to work with global regulators to clear libra's path to launch in June 2020 but appears to have underestimated the level of opposition to the scheme.

Don't worry if US government want to shut down bitcoin because still have bigger country want to adopt and legal using bitcoin transaction, China want to make bitcoin become their payment transaction and President of China have ask to their economic minister to adopt and legal using bitcoin and altcoin as transaction payment, they will give positive way for bitcoin and altcoin in China.

China always going in the opposite direction than USA xD If i dont remember bad, a few years ago it was prohibited to mine bitcoin or have it.

[BigBos]

They can't shut down Bitcoin as they cannot control it and they can only control their citizens when it comes to Bitcoin so no wonder why Americans cannot participate into ICO's , have few exchages when they can trade , they have taxes on cryptos ..basically USA doesn't want population to use Bitcoin and cryptocurrencies and now they are trying to shut down Libra's project.

I don't know what to think about them ...looks like they are loosing this racer every day and China takes over slow and steady. I hope that in the end all the world will acknowledge the power of Bitcoin and Blockchain because there is no progress without it.

in fact I have also often heard resistance from the U.S government regarding this matter, and I think this will indeed happen. this might be the reason why some projects also require KYC and forbid the people of U.S to be involved. however this has happened long ago. I suggest to focus on other things than this.

[Andrews193]

They can't shut down Bitcoin as they cannot control it and they can only control their citizens when it comes to Bitcoin so no wonder why Americans cannot participate into ICO's , have few exchages when they can trade , they have taxes on cryptos ..basically USA doesn't want population to use Bitcoin and cryptocurrencies and now they are trying to shut down Libra's project.

I don't know what to think about them ...looks like they are loosing this racer every day and China takes over slow and steady. I hope that in the end all the world will acknowledge the power of Bitcoin and Blockchain because there is no progress without it.

in fact I have also often heard resistance from the U.S government regarding this matter, and I think this will indeed happen. this might be the reason why some projects also require KYC and forbid the people of U.S to be involved. however this has happened long ago. I suggest to focus on other things than this.

Not only in the US government, almost every other country in the world has protests when they know about bitcoin and the extent to which bitcoin can operate but many years passed, governments' attention to bitcoin is still not high, although to this day, they have realized the problem from bitcoin, but trying to shut down bitcoin has been meaningless. Bitcoin is too independent, so as you say, listening to similar information is unnecessary, focusing more on the issues that would be profitable would be better.

[fullhdpixel]

I would be hoping to see Trump also hurrying to regulations and probably the blockchain adoption as well in US for they will be behind with what China had been doing in the couple of years because there had been so much developments of projects related to blockchain and cryptocurrency. Tradewar is going to be tougher if they are not going to hurry.

I think that US has actually been destined to lose the power, so they should continue to fight cryptocurrency or not open their eye to the positivity of blockchain technology while they allow china to fully utilize this opportunity and if care I not taken, china will actually take over the blockchain technology as they have been building probably a giant system already on blockchain, and we could see how effective china input is on this.

Just a statement of their interest in blockchain is what really made the value of bitcoin to spike few days ago, and we can imagine how much the market will boom if they eventually release their own Blockchain. There is nothing that china can do again to really short down the system of cryptocurrency, I think that it is already too late to do that.

[SaShiRaJaVu]

I think that US has actually been destined to lose the power, so they should continue to fight cryptocurrency or not open their eye to the positivity of blockchain technology while they allow china to fully utilize this opportunity and if care I not taken, china will actually take over the blockchain technology as they have been building probably a giant system already on blockchain, and we could see how effective china input is on this.

The Chinese government will be implementing the blockchain technology and there is no one denying that and all the countries will be implementing it in the future and if the US government wanted to ban bitcoin they could have already done that by forcing the exchanges to shut down but the only restrictions as far as i know is against the scam ICO projects and it was a good decision by their authorities.

[alexsandria]

As expected to developed countries though. They don't want to take the risk 'cause it might be the very cause of their economic crisis. Besides their economy are all looking well nothing to be worried about or to cover up for them to accept bitcoin unlike Venezuela. Even the US citizens majority are trusting their bank and the government.

[Oneandpure]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

[styca]

It doesn't matter if any government tries to shut down Bitcoin - they won't succeed.
This is the power of a decentralised currency. It is beyond government control. It is borderless, and there is no figurehead whom the governments can take to court.
It doesn't matter how hard they try, Bitcoin will survive and prosper. It is good that crypto is now being seen as a threat to the established interests.

[Memminger]

It doesn't matter if any government tries to shut down Bitcoin - they won't succeed.
This is the power of a decentralised currency. It is beyond government control. It is borderless, and there is no figurehead whom the governments can take to court.
It doesn't matter how hard they try, Bitcoin will survive and prosper. It is good that crypto is now being seen as a threat to the established interests.

Not totally in my opinion. Governments can do something about it. I think it would significantly bring prosperity to Bitcoin and the crytoworld if somehow the government would accept it but of course with reservation and proper legalization in order to have a solid ground if ever any disputes would arise since after all cryptocurrency is still a currency -- a money. We spend it in different ways and some would take advantage of it. With the government at its back, it would create a healthy environment in the cryptoworld and cryptocurrency would be seen in a new lense.

[Aying]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.

[Mike Mayor]

Trump is a businesses man who doesn't know much about Bitcoin and cryptocurrencies but he certainly didn't try to do something like that, he knows what would that mean for the position of US.

Even if Trump doesn't exactly know what Bitcoin is, his advisors do and forward every detail that matters directly to him. It's impossible for him to not know much about Bitcoin with how even the federal reserve is talking about it.

I'm sure there have been a lot of closed-door meetings where they discussed the potential damage Bitcoin could inflict on their financial stability. It has grown past that joke no one would care about. It's impossible to ignore Bitcoin at this stage.

The funny part about Trump tweeting negatively about Bitcoin is the fact that it actually helps Bitcoin gain global exposure, so his attempt to discourage people from using it works against him.

Sensationalist Americans though. Trumps an idiot and everyone knows it. His ignorance is insane and the things he thinks up and says.... -_-
It is just paranoia and if he really does have advisers telling him all about the dangers of bitcoin then I really do not know what to say, that is taking it so far. I think they inflict it themselves on their financial stability, I mean they running on a system of constant debt.

[South Park]

I think that US has actually been destined to lose the power, so they should continue to fight cryptocurrency or not open their eye to the positivity of blockchain technology while they allow china to fully utilize this opportunity and if care I not taken, china will actually take over the blockchain technology as they have been building probably a giant system already on blockchain, and we could see how effective china input is on this.

The Chinese government will be implementing the blockchain technology and there is no one denying that and all the countries will be implementing it in the future and if the US government wanted to ban bitcoin they could have already done that by forcing the exchanges to shut down but the only restrictions as far as i know is against the scam ICO projects and it was a good decision by their authorities.

This is because despite their protests governments can see the potential of this technology, what they do not like is its decentralized nature but they think that if they are the ones in control of the technology then they will have unparalleled power over the lives of their citizens, this is why powerful countries still did not banned cryptocurrencies because despite the threat they pose to them they also see the benefits that a centralized cryptocurrency could bring to them.

[Faxmate]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.

This is common issue with maximum of the government’s especially with that of developed states. They are totally hesitating to make bitcoin along with other famous crypto currencies legal in their states. I guess government shall not fear bitcoin rather launch exchanges that keep record of all transactions and in this way government can take tax as well. This is absurd to think of fighting bitcoin, rather join it.

[Xxmodded]

I think once they realised that it wasn't really anonymous but was a public ledger system, that made them happier about it. After all no need to get warrants to look at someone's bank transactions - it's all there on the public ledger.

It is true that bitcoin is not truly anonymous and that everything you do is on the blockchain and available for everyone to see but there are some issues with that theory, first of all under the current system the only ones than can see those transactions are the banks so now one power they had over anyone else is gone and I am sure they do not like that, another problem is that you need to first link a person to an address and unless you do that you only know what happened but not who did it.

United State government not friendly for bitcoin and altcoin, they always try to destroy and shut down bitcoin become legal transaction and investment assets, how ever bitcoin and altcoin more profitable as investment assets for long term than we have save and buy USDT money. Bitcoin can increase more than 100% and USDT looks inflation with every day have lower price, this reason why US government want to banned using bitcoin as legal currency.

[karanggatak]

some governments are always like that they try so that bitcoin cannot develop. because they fear that bitcoin can be a threat to their currency. they always regulate and control the people's economy with national currencies. so it's natural that they don't like and want to turn off decentralized bitcoin. but I am optimistic that not easily turn off bitcoin. because now bitcoin has developed rapidly, has a large community, capitalization and trading volume.

[Tungsten-1]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.

This is common issue with maximum of the government’s especially with that of developed states. They are totally hesitating to make bitcoin along with other famous crypto currencies legal in their states. I guess government shall not fear bitcoin rather launch exchanges that keep record of all transactions and in this way government can take tax as well. This is absurd to think of fighting bitcoin, rather join it.

There could always be a middle way where both extremes can meet such as in the case of governments portraying centralization and bitcoin representing decentralization. Government if work smartly can use bitcoin and it potential for increasing economic stability and providing jobs to unemployed people. State can launch programs involving bitcoin helping unemployed people in becoming useful for the state.

[Sirait]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.

Bitcoin is hated by many world leaders because it is not centralized. I am very confident that in the future there will be more world leaders who develop their cryptocurrency as opposed to Bitcoin.

remember. Bitcoin cannot shut down, Bitcoin can only be opposed.

[Serco]

Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United  State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.

Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.

Bitcoin is hated by many world leaders because it is not centralized. I am very confident that in the future there will be more world leaders who develop their cryptocurrency as opposed to Bitcoin.

remember. Bitcoin cannot shut down, Bitcoin can only be opposed.

maybe not hated,but need to regulated.bitcoin and cryptocurrency at this moment recognized as good investment place.many people thinking this the fastest way to be rich.and we know many bad man trying to cheat investors by creating fake projects and tak their money.this is that government want to prevent they have task to protect their citizen from fake investment,and issue many policy that considered as step to take down crypto.we have to realistic in crypto market too many lie that harmed investors.