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Author Topic: Why government Don't kill btc?  (Read 1334 times)
Polo7
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September 16, 2020, 10:27:38 PM
 #1

What is Stopping?

Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?

Like They did with Gold in USA They banned Gold then They Secretly bought Gold in  history
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September 16, 2020, 11:00:32 PM
 #2

What is Stopping?

Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?

Like They did with Gold in USA They banned Gold then They Secretly bought Gold in  history
Because they wont able to do so.If they able to kill BTC then they had already done it and thats why we do see lots of regulations and laws towards cryptocurrency but this decision would vary on each country since not all are on the same side.Some do support it and some do see it as a threat.

Government cant kill BTC even the creator itself wont able to do so and thats the beauty on dealing with Bitcoin market yet it has been supported by many and the price is dictated depending on the supply and demand.

For government on owning secretly then theres no surprise on that since theyve been holding specially to those coins which are been confiscated
on scam programs or even on that silkroad btc's.

Last, you cant compared Gold to BTC.

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September 17, 2020, 01:32:18 AM
 #3

What is stopping them are the fundamental features of Bitcoin itself. You cannot kill Bitcoin. I guess they've already tried countless of times. And all to no avail. They've labelled Bitcoin all kinds of names and yet the thing is still unstoppable; it's still moving forward. 

I think the government's actions for a long time cannot be called protecting Bitcoin.

I don't know how much the government owns right now but those are actually BTC confiscated from certain illegal activities which will end up either auctioned or sold. The government doesn't own BTC for the sake of owning it. But, for sure, a number of individuals in the government are secret hodlers of BTC.





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September 17, 2020, 01:38:54 AM
 #4

It either the government accept bitcoin or ban it. But, here is the fact, bitcoin will continue to thrive as a non centralized crypto.

I believe governments have started seeing the positive side of bitcoin.

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September 17, 2020, 02:04:23 AM
 #5

Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?

Like They did with Gold in USA They banned Gold then They Secretly bought Gold in  history
Why Polo7 Don't make good posts ever?
Why they never use spell check?
Its Becouse They Secretly work for the IMF?
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September 17, 2020, 02:07:12 AM
 #6

If a government is not embracing bitcoin, they can only kick against it in their own country, they cannot stop it in other countries, bitcoin has come to stay. As a matter of fact they can only fight against it, they cannot even totally eradicate it, if only they will control the internet from entering people's room.
But to come to the fact, bitcoin is offering many what the government could not afford,it should be the joy of the government that citizens gain relief outside them.

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September 17, 2020, 02:12:11 AM
 #7

The governments can frame regulatory compliance or laws to restrict/limit the usage of bitcoin. The network itself is developed in such a way, there is no complete destruction.

At least few governments will stand neutral on bitcoin usage, so when one leaves the network other one gets into the network. Miners are the heart of the network, maybe the decision from the country having the large number of miners will have a small impact on the network, but it won't kill.

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September 17, 2020, 02:14:04 AM
 #8

Because even though they can outlaw it and make the ownership of BTC illegal, they really can't kill it. Just like how they can outlaw piracy and buying illegal stuff through the darknet markets, but they can't fully "kill" it.

^Not sure if this is the reason why they don't outlaw it though, they probably don't see it as that big of a threat yet.

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September 17, 2020, 02:16:15 AM
 #9

I quickly search the forum about this subject, and it seems it has been discussed to death already:


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September 17, 2020, 02:28:36 AM
 #10

Some countries are trying to ban btc while most have resorted to regulating exchanges and other services accepting btc transactions since they know they can't stop the mining and the nodes that supports the Bitcoin blockchain. If one country stops all mining operation in her jurisdiction, a one will start in another country.

Two of the latest countries who opted for regulations are India and Nigeria. More countries will follow soon once they realize they are falling behind and they're missing out on the opportunity to earn more from taxes.

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September 17, 2020, 03:15:58 AM
 #11

Governments won't be able to kill BTC in price and won't be able to shut down its network. Bitcoin is built to kill government-based fiat currencies. I believe fiat currencies will survive many decades or centuries or forever because we can not live in societies without governments.

Fortunately, from the decentralization core characteristic of bitcoin network, bitcoin enthusiasts can be their own banks. The main problem on their sides is to protect their privacy and anonymity.

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ilovealtcoins
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September 17, 2020, 03:22:50 AM
 #12

No government can kill bitcoins because Bitcoin is decentralized on the internet and they are decentralized. If a user is banned in this country, the user will be in another country. Bitcoin liquidity at a global level. The government can only prohibit the use of Bitcoin as a means of payment, but cannot prohibit people from hoarding bitcoins because they do not have the authority to manage or oversee the bitcoin network. In countries that ban the use of bitcoin, people are quietly using it for transactions.

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masphie
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September 17, 2020, 03:49:33 AM
 #13

I think they don't have authority to do that, maybe if bitcoin disrupts the country's economy.  The government will take action.

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September 17, 2020, 03:54:57 AM
 #14

They can't do anything to Bitcoin. Even if they ban Bitcoin, there's still a chance that people would still use it secretly to transact. Also, why would they kill something that they would benefit from? just look at countries that is utilizing the potential of cryptocurrencies, they are taking advantage of the technology and because of it, it is helping their economy and their country grow.

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September 17, 2020, 04:14:13 AM
 #15

Because no one could stop Bitcoin, not even the Government. Its unstoppable now and the trends and popularity will continues, not even the Genius creator himself, Satoshi Nakamoto.
The Government could neither refuse to adopt/legalized it in a certain country but its only the features and the other method it gives. But they cannot stop the people working and earning here as a whole and the awesome benefits it brought to the people and to the country's economy too.
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September 17, 2020, 04:42:08 AM
 #16

What is Stopping?

Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?


From my perspective it seen that government don't have much authority to eradicate cryptoccurrency especially bitcoin due to cryptoccurrencies is decentralized and no one can come up and stabilized it without a proper strategies or evidence of corruption.
While them should protect the interest of bitcoin is because they have found out the benefit of bitcoin in society.

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September 17, 2020, 04:49:17 AM
 #17

Governments can deal a serious blow to bitcoin by making a general decision to ban it in their territories and imposing severe sanctions for violating this ban. However, governments do not see this as necessary. Recently, the issue of cryptocurrency was considered at the G7 Summit and it was decided that cryptocurrency does not pose a threat to the stability of the global financial economy.
Many states have already legalized cryptocurrency by adopting regulations on the conditions for its circulation in society. However, in general, states will never actively support a decentralized cryptocurrency.

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September 17, 2020, 04:55:18 AM
 #18

The only way to ever kill Bitcoin was if the internet was to be killed, and I mean in the ENTIRE world. It's like killing the air, you need to place the entire world in a vacuum to ever consider air "killed". Do you think they have enough authority to do as such? The most they can do is put a bad name into it, but that's it. Gold would still shine even if it was placed in a dirty place, so no matter what they do, Bitcoin would still be gold in the eyes of the few.

They aren't protecting it even, heck they can't even touch it. If they could, they would've as you said, killed it instead of protecting it. You can ask search engines for more braindead questions next time, you might not even need 5 minutes to look up a satisfying answer.

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September 17, 2020, 05:01:02 AM
 #19

It's not possible to do so. Bitcoin doesn't exist as a physical commodity and there is no way for them to search your house and find your private keys (using methods like steganography). Gold is much easier to find, in comparison.

The decentralised nature of Bitcoin makes it incredibly hard for the governments to ban Bitcoin by restricting the internet. Use of VPN and/or Tor would easily defeat it. In any case, the only viable option is to try to reduce the use of Bitcoin but there are ways to circumvent that too.

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September 17, 2020, 05:43:24 AM
 #20

Why Polo7 Don't make good posts ever?
Why they never use spell check?
Its Becouse They Secretly work for the IMF?
Spot on. I honestly no longer think that OP is seriously asking and just make new sensational threads for whatever reason. A few sentences with sensational questions and then no longer replying to the thread is the usual MO.


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