No One Can Shut Down Bitcoin

[kryptqnick]

Bitcoin  will continue existing no matter which restrictions are imposed, but the community and the price can change very seriously if a big (in terms of global economy) country made using it a criminal offense, for instance. However, many influential countries are democratic, so something like this wouldn't go through or would be protested against later. China is a big exception and can clearly do a lot of damage, but even they don't seem to be working towards a complete ban, and even such a big country as China cannot cause irreparable damage to the Bitcoin market, I think.

[1715330347]

1715330347

[hatshepsut93]

This is correct, but it's not the whole story. If Bitcoin was properly banned by major governments (the US, EU, China, Japan), it would have a tiny fraction of today's adoption, and today's adoption is already very low. Very few merchants would want to accept illegal money if they don't do illegal business, generally it only happens in countries with hyperinflation or other economic problems. So, let's not get cocky here, Bitcoin ban is a serious threat. And from a point of view of investing, it can easily wipe 90%+ of its value.

[Anonylz]

Restriction is different from ban, government have been trying so hard to ban btc and they couldn't so they have resulted to restricting citizens from accessing btc, even so they are not very successful  in this attempt, cz is right, it is not possible to a single or more than one entity to shut btc down completely, and that is the power btc have over other assets.

[serjent05]

It is true that it is impossible to shut down Bitcoin.  They can make it illegal but they can never make it cease to exist.  Being decentralized is the strongest point of Bitcoin to make it impossible for the government to shut it down let alone control it.  Just like how they fail to censor file sharing on the internet.

[ropyu1978]

It is difficult to turn off bitcoin, because many people who adopt bitcoin, even from the middle to upper class, already know about bitcoin, bitcoin has been developing for about 12 years, so stopping bitcoin that has been operating for 12 years is a bit difficult. .

[isaac_clarke22]

~

Even if it will be regulated by any "regulatory bodies" that you're mentioning, the network itself is unstoppable.
VPN still exists these days and people can still browse anonymously with the use of Tor browser which are used by others also to explore the deep web.
P2P transactions are there as well.

[DarkDays]

Pretty much. They can outlaw it, but they can't ban it.

For such a heavily decentralised market there is not much any government can do, whatever they do they can't stop people from using it now that they got a taste of the financial freedom they can get, and to be fair the crypto market is a trustless market where anybody can access so why go back to traditional?

No need for middlemen, exclusions etc. So even if some governments ban BTC or other cryptos there will still be places that welcome it. At this point it is fair to say that unless something catastrophic happens nobody can stop crypto.

[Fundamentals Of]

Bitcoin started more as an enemy of governments rather than a promising alternative technology. Attempts were actually made to shut down Bitcoin, but then there is nothing governments can do about it. They are classifying Bitcoin as an underground currency preferred by criminals and drug dealers. At the end of the day, their motives did not prevail.

Today, Bitcoin is more acknowledged by many countries rather than banned. The threat of shutting down Bitcoin today is getting weaker and weaker.  

[ShowOff]

Bitcoin is a decentralized asset that always make the government think hard to manage it in such a way. The government can prohibit bitcoin from being traded and can also prohibit people from using bitcoin as a mean of payment only if it doesn't benefit them at all. But on the other hand, government can also benefit from bitcoin (income tax) only if they regulate it without having to ban it. But I think we should worry too much about the future of bitcoin because as long as it's a win to win situation, the government will also try its best to take advantage of it. Bitcoin has provided benefit to all parties including the government.

[the rise]

bitcoins cannot be stopped as long as the internet still exists, bitcoins may be restricted, but there is always a way to access them and there are always bitcoin enthusiasts. Bitcoin is also one of the technologies worth looking at, slowly but surely the government is reviewing bitcoin, and finding a way for them to control it, have you heard of coins made by the government? I'm sure you've heard of it.

[Mr.sprin]

bitcoins cannot be stopped as long as the internet still exists, bitcoins may be restricted, but there is always a way to access them and there are always bitcoin enthusiasts. Bitcoin is also one of the technologies worth looking at, slowly but surely the government is reviewing bitcoin, and finding a way for them to control it, have you heard of coins made by the government? I'm sure you've heard of it.

true as long as the internet network is still accessible, bitcoin is still there and cannot be stopped. bitcoin has been around for about 12 years and bitcoin more and more people want to invest rich people who have bitcoin assets in their wallets that they believe the big transactions of the future will use bitcoin.

[irsykes]

About accessible, even porn which get blocked in several countries, their people still can access it. I think as long they not shut down big bitcoin exchanges, we should not worry about that. Because what can government do is make strict law about exchanges which need their permission to open, but people still can access bitcoin wallet, etc.

[sapnu]

The world have known bitcoin for so long and we've all seen it went through the toughest challenges but take a look at bitcoin, it is still dominating the market ever since. Bitcoin's blockchain technology has been very firm due to the foundations it was able to build all throughout the years. Even on Elon Musk's case, no matter how hard he try or no matter how many money he makes each year, he will never be able to shut down bitcoin. As time passes by, it will only keep on growing stronger so let us hold on to our investments because the only way bitcoin is going to is upwards no matter how many time it stumbles.

[The Cryptovator]

Those who have minimum knowledge about decentralization or blockchain technology, they know it's impossible to stop Bitcoin anymore. It's not possible to stop by any government or centralized organization, because we don't need them to operate the Bitcoin blockchain. How anyone can stop? For example, if you are holding a million-dollar worth Bitcoin then you will start mining in case all manners decide to stop mining. So just imagine how many big holders in Bitcoin and will resume mining node. They won't dump themselves. So it's quite impossible to stop Bitcoin anyone since it's impossible to trace who is mining currently.

[Mahanton]

Binance CEO Changpeng “CZ” Zhao said it’s impossible for a single entity to kill bitcoin and its underlying blockchain technology. “I don’t think anyone can shut it down now, given that this technology, this concept, is in 500 million people's heads,” he added. Binance is the biggest cryptocurrency exchange by volume.

Theoretically, this is true, but governments and regulatory bodies can severely restrict access to and redemption of bitcoin. While the network will always be accessible through an internet connection, and Bitcoin will always have value, it is another issue if BTC use and custody are heavily regulated or outlawed due to Governmental fear of losing their monopoly on the money supply.

Your opinion?

They can do all those bans and prohibitions but that wont really be enough on getting rid with bitcoin since when it comes to accessibility then it cant really be stopped.
They can really give out influence when it comes to legal matter for those platforms whom do attached to it but remember we do have dex and p2p transactions
that cant still be done without any intervention into any platforms which simply shows that it cant really be controlled nor can be handled out
even how powerful or influential you are and this is what the community do see on it which did really get big support.

[pixie85]

I'm sure that they will never be able to shut it down and you saying that "governments" will do it look so dumb. When was the last time you saw the governments of the world cooperate to fight something together? Even if we were attacked by an enemy from space they wouldn't be able to work together. I bet some countries would like to make a deal with the invaders while others would be fighting it.

Even if 50% of the world bans bitcoin the other 50% will see it as an opportunity to make money.

[tabas]

For the people outside bitcoin, what banning means to them is just like banning it entirely on their jurisdictions. But they don't understand that there is no one that can stop its continuous mining operations from different parts of the world and its own blockchain will continue no matter how many mining farms they crack down and ban it solely, they can't shut down the whole network for bitcoin.

[nhaila]

I am fully agree with your opinion but some people can damage market hugely. Let you consider Elon musk and China government already declared Bitcoin as a huge misused of fuel and power energies consumptions . Due to the high consumption of energies, most of the people are preferring to ban Bitcoin.

[isaac_clarke22]

~

If I was the million dollar hodler, I would just hodl for the rest of my life though I would sell a bit from that and I wouldn't still be broke in crypto.
I'd consider that investment in mining but it isn't my thing.
It's impossible to stop Bitcoin, but it is capable of being regulated on how people uses it not merely how Bitcoin functions.

[ReiMomo]

The government already tried its best to shut down bitcoin but they cannot do it, they are always fo something to take over decentralization because they know how good it is and they can't do something to benefit from it and the government hates that thing. Bitcoin is now unstoppable and I don't think that there is one thing that can shut it down unless we lose internet connection worldwide.

The best example here is China, how many times they had said that they ban bitcoin but until now, many people have their own bitcoin.

That's right, bitcoin is unstoppable and no one will stop it because it is decentralized and millions of people were holding bitcoin in different codes digitally. So it is impossible for them to shut down bitcoin.

I'm thinking what if they will also enforce to ban the bitcoin mining all over the world. We will become no miners, how bitcoin transaction will work in that way.