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Author Topic: The Government Could Shutdown Bitcoin?  (Read 690 times)
Asuspawer09 (OP)
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November 22, 2019, 10:48:26 AM
 #1

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

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November 22, 2019, 11:17:02 AM
 #2

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.
In other words you are saying the bitcoin will be controlled by a single power?

Seriously! What is wrong with you people? When you see a sudden fall then you lot start to panic and forget about this that this kind of things happened thousands times with Bitcoin but still it had 20,000x gains against this shit dollar currency.

You people really do not deserve bitcoins. If you are not okay to hold your coins if the price goes down to $1k (which is highly unlikely) then you people really do not deserve to see bitcoin price to have $100k against this dollar shit.

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November 22, 2019, 11:28:11 AM
 #3

The government cannot do this because we have seen a lot of examples ,
Let's take the example of Korea , they attempted to ban Bitcoins but after a while when they realized that it is going to be there even if they want it or they don't , that was the time they took charge and started regulating Bitcoins instead of banning it.
Because they can't just check and control each and everything it's the people only they are employing and it's the people only who is supporting Bitcoins.

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November 22, 2019, 12:01:14 PM
 #4

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

No way any government can stop bitcoin because they don't control bitcoin and honestly this does not make any sense because we have come across so many speculations and news like this in the past and I know there will be some more negative posts due to recent market situation.

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November 22, 2019, 12:31:27 PM
 #5

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/
I think the government couldn't do that for the simple reason simply because they should've done it a long time ago if they could but looking to what Bitcoin's price it turns out to the price that we never imagined. The government can do something about the market like they can restrain their people upon using but this can never be stopped since Bitcoin and other cryptocurrencies are anonymous, in other words, it cannot be tracked down.

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November 22, 2019, 12:35:14 PM
 #6

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

no government can stop bitcoin or control prices, if indeed the government can control bitcoin why didn't they do it last year when the price of bitcoin rose so high that it really threatened their fiat finances but why didn't they do it? destroy bitcoin At that time, I thought the person who could do that was Satoshi Nakamoto because he was the creator of bitcoin.

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November 22, 2019, 12:35:52 PM
 #7

No one can shutdown decentralized system. But this can slowdown of development and adoption
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November 22, 2019, 12:36:15 PM
 #8

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/
Wow I guess that could be one potential way to attack Bitcion and cryptocurrencies a like. Another and more efficient way would be for the all of the Governments and banks to simply go through congress, lobby against Bitcoin heavy, then create new policies that stop the conversion of any cryptographic currency into fiat. How then will one expect to cashout? If you can't trade you digital coins for real fiat, your practically screwed! What could you do if all of your wealth was tied up in crypto and then you could no longer convert it? many would lose the shit off of their backs.

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November 22, 2019, 12:42:00 PM
 #9

Bitcoin has been existing for more than a decade, but it is still existing, each government are almost in favor with Bitcoin but they can't do anything to stop it, in fact the word of Bitcoin has risen and the demand for it is continuously rising, so the government can have no power to shutdown it, because if they have, they must have been done it before the mass adoption.

Asuspawer09 (OP)
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November 22, 2019, 12:42:05 PM
 #10

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

No way any government can stop bitcoin because they don't control bitcoin and honestly this does not make any sense because we have come across so many speculations and news like this in the past and I know there will be some more negative posts due to recent market situation.
Agreed, controlling the market price of bitcoin would not be an easy task, depending on supply and demand if the market.
A lot of news in the market and speculation could easily be throw on the internet to affect the bitcoin community and bitcoin investors.

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November 22, 2019, 12:44:39 PM
 #11

I doubt that people will lost interest on bitcoin. I mean it has survived its first 10 years with a lot of bumps and test along the way. But bitcoin already proven that it is so resilient with this kind of attacks. And remember that the market is open 24x7 so how can you shut it down? And if the price of bitcoin goes <$1k? I'm sure a lot of us here will be a bagholder.

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November 22, 2019, 12:46:12 PM
 #12

What's with your timing, dude? The article was published 3 days ago yet you decided to share it here right when the market is in panic mode, blood on the street, and the overall sentiment is bearish...You trying to spread more FUD or what?

Seriously, these type of dumb clickbaity articles are completely unnecesary right now, we get one of these (crackdown on cryptos from X govt) at least twice a week.

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November 22, 2019, 12:48:44 PM
 #13

What's with your timing, dude? The article was published 3 days ago yet you decided to share it here right when the market is in panic mode, blood on the street, and the overall sentiment is bleak...You trying to spread more FUD or what?

Seriously, these type of dumb clickbaity articles are completely unnecesary right now, we get one of these (crackdown on cryptos from X govt) at least twice a week.


Calm your nerves  Cheesy

The market is ok.
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November 22, 2019, 01:04:10 PM
 #14

Bitcoin has been existing for more than a decade, but it is still existing, each government are almost in favor with Bitcoin but they can't do anything to stop it, in fact the word of Bitcoin has risen and the demand for it is continuously rising, so the government can have no power to shutdown it, because if they have, they must have been done it before the mass adoption.
Well said, i'm not underestimating bitcoin's power but it is possible that government is also capable on doing it because of their power and if they want to make it happen then I think it they will have some struggle regarding on shutting bitcoin down because were still here who keeps on supporting and believing in bitcoin and we are not allowing it. There are some governments who have realized the potentialities of bitcoin that is why some of them are not against it because it can be beneficial to them and into their country. Bitcoin adoption is improving day by day and bitcoin had overcome different problems and challenges in the past that is why it won't be easy for them to do it.

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November 22, 2019, 01:13:43 PM
 #15

some countries hate and prohibit bitcoin, maybe even there are some who try to stop bitcoin, as we see now bitcoin is still running, it shows that they can't stop bitcoin, Upward and downward trends are common in trading, maybe if the price of bitcoin becomes 1K many people will buy bitcoin as a long-term deposit.
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November 22, 2019, 01:19:18 PM
 #16

They could probably ban it's use like mining and trading, though i doubt there will be an absolute effect. People will find ways to utilize bitcoin and it may thrive in underground and black markets. At this point, i don't think it can be shut down entirely anymore. Just look at china. Slowly, it's loosening it's stance of crypto after being against it in the past few years.

 
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November 22, 2019, 01:22:14 PM
 #17

Ok, so how do the governments explain the use of taxpayers money to crush emerging technologies that would create new job opportunities and revolutionize the financial industry? Do you think when this gets exposed, people would run to the voting booth to vote for a government that would use their tax money to crush the "People's Money"?

Also, do you think it would be enough to crush only Bitcoin? What about the 1000's of other Alt coins that are out there? You know it will take a lot of money to crush all of them..right? You also know people can quickly move from one Alt coin to the next, if they get wind of this.  Wink

Nah, no government would be stupid enough to do that, it would be like burning money without any good result. We went to $3000 in January and look at where we are now.  Tongue

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November 22, 2019, 01:23:06 PM
 #18

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

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November 22, 2019, 01:29:06 PM
 #19

They could probably ban it's use like mining and trading, though i doubt there will be an absolute effect. People will find ways to utilize bitcoin and it may thrive in underground and black markets. At this point, i don't think it can be shut down entirely anymore. Just look at china. Slowly, it's loosening it's stance of crypto after being against it in the past few years.
I don't also really know if the government can shutdown bitcoin for now because as we all know that the government has the power to control everything so maybe there would be some sides of bitcoin that can be controlled by the government or they can really ban bitcoin mining if they want to, but the banning of bitcoin trading? I don't think so because people can always trade anytime they wants as long as they have the internet connection and etc. Maybe the government can shutdown or will make to have restrictions in order to choose who only can access the trading platform and etc.



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November 22, 2019, 01:34:59 PM
 #20

I don't know why this kind of articles suddenly pops up with the price of bitcoin is going down. Coincidence or FUD? Your guess is as good as mine.

If governments such as US and China (mentioned in the article) would love to shutdown bitcoin, they wouldn't let the price goes on $20k in 2017, they would simply stop it at this point and ban everything related to bitcoin. But they didn't, so I doubt that there are plans in place or if even those two governments really wanted to stop bitcoin as this point and crashed the price to $1K.

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