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Author Topic: I have concluded that all governments together can't stop bitcoin  (Read 795 times)
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May 05, 2021, 03:26:00 PM
Merited by The Pharmacist (2)
 #81

Stopping bitcoin to operate is out of their hands and not really possible, but what they were trying to do is to regulate and have authority over BTC so that they could exploit it and make good use out of it. It's not like all countries are against cryptocurrency. In fact, there were many countries that legalized BTC on their own territories, such as the U.S, Japan, and U.K.
Government have the capacity to prohibit people from using bitcoin in a country if the negative impacts outweigh the benefit. They can impose stricter rule if they don't succeed in preventing their official from laundering money with bitcoin and I think the government can still do it. But so far I don't think they will do it while they are profiting from bitcoin.

Government will not come together to fight bitcoin because they still have the will of their own to go for it. Usually the regulation will be lenient if the world government applies friendly rule for bitcoin and cryptocurrency. I'm sure most countries would reconsider their rule if that scenario existed. But I know that the government still wants to make bitcoin a controllable (centralized) asset but that is still not possible.

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May 05, 2021, 03:33:32 PM
 #82

Since Bitcoin and other cryptocurrencies are decentralized government policies can't have direct impact on cryptocurrencies. Although certain news might only cause a drastic drop in price (deflation) but over time a major spike would occur which would however trigger the coin to rise back causing even a higher high

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May 05, 2021, 03:36:27 PM
 #83

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ?  Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

Stopping bitcoin to operate is out of their hands and not really possible, but what they were trying to do is to regulate and have authority over BTC so that they could exploit it and make good use out of it. It's not like all countries are against cryptocurrency. In fact, there were many countries that legalized BTC on their own territories, such as the U.S, Japan, and U.K.
Objections, bitcoin's features are quite advanced for the government to be difficult to edit but in the end, it is also a form of intelligence, with the genius brains of governments, combined with close cooperation, the bitcoin network can be traced back and destroyed then prevented anyone from participating. But perhaps the cybersecurity department and the governments are probably quite subjective, the sharp rise in the price of bitcoin demonstrates the attitude of the government, a primitive world and yet to create a level of danger

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May 05, 2021, 04:05:27 PM
 #84

Really stop i don't think they can. Maybe they will just make regulation so people harder to use or maybe exchange since exchange need government permission to keep open. If not they will be shutted down. But for access wallet, i think people will still can, even for p2p people still can do it.

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May 05, 2021, 04:29:46 PM
 #85


Stopping bitcoin to operate is out of their hands and not really possible, but what they were trying to do is to regulate and have authority over BTC so that they could exploit it and make good use out of it. It's not like all countries are against cryptocurrency. In fact, there were many countries that legalized BTC on their own territories, such as the U.S, Japan, and U.K.

Yeah it really is what I mean was it is so impossible for every government to stop the operation of bitcoin because as long as there are investors and traders and those who believes in bitcoin it will still operate. Knowing bitcoin today, now a new and a trending kind of investment happen probably no government ever stopped bitcoin to introduce in the market and economy. And yes the only thing that the government can do was either ban on their country or legalize the use of bitcoin in their economy.
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May 05, 2021, 04:38:53 PM
 #86

We all know that in the early stages of the creation of Bitcoin, the government of each country tried to control and ban it. Although the level of government restrictions has increased over time, it is slowly gaining popularity among the general public, leading governments in many countries to start thinking about its use. Although the government has banned it in our country, it is currently trying to understand its use through discussion and review. Because Bitcoin is a decentralized cryptocurrency, it is not possible for the governments of any country to control it, even if the governments of different countries work together to
 try control or stop it.

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May 05, 2021, 04:42:52 PM
 #87

even though they are together I think they will have a hard time stopping this bitcoin Smiley because now I can say bitcoin is even more famous than fiat money.
besides that, the impact that would be generated if bitcoin was terminated simultaneously would certainly not be small. will be very impactful, it is possible that the impact generated by bitcoin will be felt in the economy. because the electability will be disturbed.
they can eliminate bitcoin but they will have a hard time dealing with the economic impact after bitcoin is gone

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May 05, 2021, 05:28:54 PM
 #88

The role and importance of governments should not be underestimated. Unfortunately, if at least the G20 states decide to ban the circulation of cryptocurrency, then if it does not completely destroy it, then it will significantly reduce this market by tens and hundreds of times, and also significantly complicate its use, since exchanges and exchangers will stop working. and cryptocurrency will be able to move almost only between individuals and will practically completely disappear into the shadows. I doubt very much that there will be many who want to do it, since its price will drop hundreds and even thousands of times, which will cause colossal material damage to its holders. Therefore, it is unlikely that states will immediately ban the use of cryptocurrencies. Too much has already been invested in this market. Apparently, this will be gradual, if the states even make such a decision at all.

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May 05, 2021, 05:31:54 PM
 #89

bitcoin is getting more and more popular among the public even nowadays many institutional investors are starting to adopt bitcoin, so in my opinion the government can only ban bitcoin but they can't stop bitcoin users from growing every year, in fact it is quite possible that one day the government will accept bitcoin and adjust accordingly.

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May 06, 2021, 07:40:57 AM
 #90

It would be nice if it really was. But so far, governments have not done this together.

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May 06, 2021, 07:48:49 AM
 #91

The nature of decentralization is meant to be only for decentralization and government with the centralized system cannot do something to kill or stop bitcoin, they already tried many times to stop bitcoin but still, nothing happens, they keep on making other things to stop bitcoin but they end up giving up because maybe bitcoin is unstoppable, only internet can stop bitcoin from processing.

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May 06, 2021, 10:54:49 AM
 #92

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ?  Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

Government policies have little or no effects on bitcoin if its users agree to stick together ,it is decentralized and can't be controlled by any financial institutions but grow from strength to strength against other crypto
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May 06, 2021, 01:36:37 PM
 #93

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ?  Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself?
Some countries have already embraced Bitcoin, and they may be taking legal steps to allow it to be used officially in their country. Bitcoin is unstoppable, as most of the world's largest countries have begun to recognize it as a payment mechanism on various platforms. If this occurs, it would be in the future if they have replaced bitcoin with a much superior currency. Since bitcoin is decentralized, and there are a slew of resources to use on the internet to gain access to cryptocurrencies, the government can do little, even though they go all out against it.

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bitgolden
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May 06, 2021, 03:43:54 PM
 #94

If this occurs, it would be in the future if they have replaced bitcoin with a much superior currency. Since bitcoin is decentralized, and there are a slew of resources to use on the internet to gain access to cryptocurrencies, the government can do little, even though they go all out against it.
That superior currency definitely will not remain decentralized; that is the point on-which it may get failed over the time even if governments unite and plan up anything like that. As of now we are seeing some governments are planning for their own version of digital currencies and some other governments are about to bring heavy regulations etc. But all these will fail for the same decentralization reasons. Bitcoin's biggest power is its decentralized nature hence anything against bitcoin without that will fail over the time.

There are very less possibilities for governments to come together to think about stopping bitcoins; even they take any step on this regard that will end up biting dust for sure due to same decentralization and benefits based reasons.
dificanovi
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May 06, 2021, 03:59:12 PM
 #95

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ?  Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

I think the government is not going to do deals with governments around the world, it will bring down the economies of all countries. I see bitcoin is very influential on the country's economy because many people have been helped by bitcoin.
I myself already feel the happiness from the results of investing in bitcoin, so in my opinion the government will not ban bitcoin, instead the government is very happy to see the economy of its people getting better by bitcoin.

djangofan
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May 06, 2021, 05:25:01 PM
 #96

It is just crazy to think that banks are "tryiing to stop Bitcoin".   The recent news proves that belief is false: "Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG"

Why would that happen if banks were trying to stop it?   Now, if the US isn't going to stop it, what makes you think all the countries in the world would try to stop it?
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May 06, 2021, 05:59:36 PM
 #97

Bitcoin is a product of freedom and it is loved by everyone in the world. Bitcoin is decentralized, easy to use, and profitable.
Governments may not like Bitcoin, but people do. In the past, there was a time when Bitcoin was severely criticized by governments and economists. But let's take a look at the value it offers for everyone, most of the people who are rich in bitcoin. Highly profitable computer equipment businesses, electricity companies with steady sales, and more jobs thanks to the advent of Bitcoin.
Currently, several governments accept Bitcoin and have specific Bitcoin and cryptocurrency regulations. That is proof that cryptocurrencies will never die.

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Jazzi Mahesh
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May 06, 2021, 06:48:34 PM
 #98

If Bitcoin was money, given the volatility in its price, the world would be jumping from inflation one day to deflation the next, all the time. Any form of money to be accepted as such cannot exhibit such huge fluctuations.
 So in my opinion a strict rule should be constructed for smooth execution by govt.
arapgeceleri
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May 06, 2021, 11:23:34 PM
 #99

I don't think bitcoin can be stopped. Even if there is such an attempt, they will not be able to do it. this is now a supranational thing. decentralization is already the best feature. I mean, even if states unite, I don't think they will be able to achieve this. I think states do not want this anyway. They will also start to benefit from this market. Even trying to prevent bitcoin is harming themselves.

jpnl0006
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May 06, 2021, 11:35:20 PM
 #100

Loads of governments have been giving so much restriction on cryptocurrencies since i can remember but none of those rules or restrictions has ever held water or stood the test of time as they often come back for a review. Government can not stop crypto.

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ?  Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

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