Cryptocurrency (Bitcoin) Can't Be Stopped

[Ayebabara]

The Senate house in USA deliberated to stop or ban cryptocurrency,. But Pat Toomey supported that it cannot be stopped or banned because if it is banned it will migrate to offshore and a fall of a company (FTX) should not used to judge the legitimate innovation of bitcoin and other coins. Senator Pat Toomey said, the collapsed of FTX is not excused to ban or stopped the coins. They are of separate entities. According to his opening speech

U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried.

And another opposition senator also agitated to ban it. Pennsylvania senator said crypto should be banned based on the collapsed of FTX. Then  According Senator

Toomey  The problem was the misuse of customer funds, gross mismanagement, and likely illegal behavior.”

Source

Bitcoin the king of cryptocurrency cannot be stopped or paused

[1715201186]

1715201186

[1715201186]

1715201186

[1715201186]

1715201186

[mk4]

Of course a lot of the suits are using the FTX debacle and other platform insolvencies as an excuse to aggressively regulate cryptocurrencies. I doubt they're that dumb to not be able to differentiate 2 separate categories.

[ven7net]

The Senate house in USA deliberated to stop or ban cryptocurrency,. But Pat Toomey supported that it cannot be stopped or banned because if it is banned it will migrate to offshore and a fall of a company (FTX) should not used to judge the legitimate innovation of bitcoin and other coins. Senator Pat Toomey said, the collapsed of FTX is not excused to ban or stopped the coins. They are of separate entities. According to his opening speech

U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried.

And another opposition senator also agitated to ban it. Pennsylvania senator said crypto should be banned based on the collapsed of FTX. Then  According Senator

Toomey  The problem was the misuse of customer funds, gross mismanagement, and likely illegal behavior.”

Source

Bitcoin the king of cryptocurrency cannot be stopped or paused

Of course, I am not a supporter of various conspiracies there, but it seems that someone is trying to hide behind the situation related to FTX and at the same time bring down the crypto market, well, you yourself know why. Yes, in order to buy our cryptocurrency, including BTC, at a low price. This is called knocking cryptocurrencies out of weak hands. I don’t know, but still I see this whole situation with FTX and statements about the closure of cryptocurrencies as an attempt to push the price of cryptocurrencies down before the next flight to the moon. This is just my vision of the situation and of course it may not coincide with the real reasons.

[pooya87]

In the end no matter what the policy makers do, it won't help bitcoin or cryptocurrencies. Because if they ban them or the centralized services, the scams won't stop and future FTX like collapses will still happen. And if they heavily regulate the market it still won't help users because such regulations have always been privacy invading type that targets users and they do nothing to provide any kind of security for them so FTX like collapses will still happen!

[posi]

The House of Representatives or the US alone is not powerful enough and can never stop cryptocurrency, let alone a decentralized cryptocurrency like bitcoin. In my observation, they are not going to ban crypto because they know they won't be able to stop it, but they are putting a lot of pressure on the market to find a way to penetrate and control it more tightly. That's what they're looking for because they don't want to miss the huge tax revenue from the market.

[NdaMk]

I have always had this feeling that the FTX saga/scam will be tagged to bitcoin by its fud spreaders. Even the hype of this FTX is strongly spread by Government officials who want to put a stop to crypto currency. they have strike in every direction to stop (even the creation of CBDC) but to no avail. The worst they could try to do is regulate it because even other countries that tried to ban it have experienced its massive adoption by their citizens. They should rather find a way to call scammers like Sam of FTX to order when saga like this are pull off

[tranthidung]

Bitcoin # Cryptocurrency
Bitcoin can not be stopped but cryptocurrency exclusively shitcoins (altcoins) can be stopped. They can be stopped by their developers like Terra, Binance Smart Chain, Harmony etc. or by governments.

When you have a strongly decentralized network, it will hardly (or impossible) to stop it.
If you have a serious centralized network, it will be easily stopped by one person.

[1] Binance Smart Chain halts after exploit
[2] Terra resumes blockchain production after halting to prevent hacks amid UST crash
[3] Harmony Shard 0 stopped working for 7 hours

Bitcoin transactions are irreversible but with altcoins, their developers can revert their blockchains. SMH 

[Maidak]

Centralized coins or centralized exchanges can be stopped because they can control them, but with bitcoin, it is an entirely different case. It has no operator, and no company behind it, and its operations span the world, so banning it is almost impossible. There might still be a way to stop bitcoin completely, but in my opinion, they would never do it because it's not worth doing, such as shutting down the entire internet or power. Those tasks can only be said on paper but cannot be performed.

[electronicash]

they would have stopped Bitcoin when it was still at the very start back in 2009 but even then there were already lots of developers creating their own blockchain coins. even the doge can't be stopped.

FTX collapse use as clause by law makers to regulate crypto and the first thing they do is to contain Binance. Gensler was asking to have control over crypto regulations to all countries which is really not acceptable even to the tiniest country's sovereignty.

[gantez]

Of course a lot of the suits are using the FTX debacle and other platform insolvencies as an excuse to aggressively regulate cryptocurrencies. I doubt they're that dumb to not be able to differentiate 2 separate categories.

I think they need some knowledge about cryptocurrency and exchange. Exchange collapse has no effect on bitcoin. People only didn't do the model of crypto or bitcoin, not your keys not your coins. Incase of another exchange collapse, the coins saved in personal wallets are safe. So it is not about to ban bitcoin but individual countries can regulate the exchange in their country.

[Flexystar]

Even if there was any way to do it we wouldn’t have stopped it. That’s because there always be lot of investors, developers, institutional groups who will be investing on high levels into the bitcoin. This is due to its very nature that was meant from its whitepaper. The very pseudonymous nature of the bitcoin, it’s capability of transacting in unlimited data is something that wasn’t achieved already. Though we keep saying governments are trying to ban it and stuff like that, there is one thing for sure they and private companies are already trying to explore more and more about the blockchain and thus it is meant to go on and on all the time.

[crunck]

If the government goes all out to fight bitcoin, then bitcoin can really stop, but bitcoin is not a terrorist or something that endangers the safety of the world, Bitcoin is helping many people have a better life. So I don't think the government will do it but with regulation for crypto or bitcoin it is definitely inevitable.

[gantez]

If the government goes all out to fight bitcoin, then bitcoin can really stop,

It is funny that you say that. How will government fight bitcoin to stop? First you need to know government is not united, they are divided with different interest in different organizations that they form, so this is a disadvantage already. Bitcoin is decentralised codified with blockchain technology, it is very independent of every government to stop.

[worle1bm]

If the government goes all out to fight bitcoin, then bitcoin can really stop, but bitcoin is not a terrorist or something that endangers the safety of the world, Bitcoin is helping many people have a better life. So I don't think the government will do it but with regulation for crypto or bitcoin it is definitely inevitable.

You can't stop or hinder the bitcoin growth but you can only put out restrictions like ban on its usage and the main fear of governments is falling control out of their hands with decentralised crypto like btc.But what measures do you think they have to fight against bitcoin which is totally out of their control?

It will be in usage till there are people who are willing to use it with miners and nodes securing the network as there is profitability to them as well in form of rewards.So government will always put forward excuses which they have done from ages but bitcoin will keep going on.

[Artemis3]

Bitcoin is not about an exchange, its about paying with bitcoin and getting paid with bitcoin, no exchanges, or banks, or State issued money.

[Mr. Magkaisa]

  -   The impact that FTX has left on the crypto industry is quite serious. These people are greedy and savage with money, these are the people who should not be given a second chance. These people should be imprisoned for life there to rot and die. Even sane cryptocurrencies others are affected by such events.

Anyway, at least that senator knows that nothing can stop the growth of bitcoin or cryptocurrency, especially in the future. Because they saw the support of the majority all over the world regarding this matter.

[Nrcewker]

Thanks to the decentralised nature of the coin, that is, it cannot be controlled by any government. Hence it’s impossible to ban Bitcoins. I mean if you use Bitcoins then nobody other than you will know that you have Bitcoins. As Bitcoins cannot be controlled by the US government, hence they are heavily planning to ban the coin. But users can still wish to use the coins. They can use the coins and buy sell it through P2P deals which is very hard to track. Let’s see what happens next.

[Antonas1]

Now I'm thinking there seems to be two possibilities that are going on:
1. The Bitcoin and cryptocurrency haters in the seat of government moved quickly to try convincing the government to ban Bitcoin and all cryptocurrencies using FTX as a main reason.
2. Those people are just trying to spread FUD so they can buy cheaper and more when people are panic selling their Bitcoins.

[Yawa2020]

This is not a news any longer. We have heard several debates like this before now and nothing change. They also know that they can not regulate Bitcoin talk more of banning it. They have no idea of it beginning and they should not waste their time trying to stop it.

[Luzin]

It is funny that you say that. How will government fight bitcoin to stop? First you need to know government is not united, they are divided with different interest in different organizations that they form, so this is a disadvantage already. Bitcoin is decentralised codified with blockchain technology, it is very independent of every government to stop.

Yes, maybe it can. But it is most likely difficult. I read a few months ago, the Chinese who have banned Crypto only there is still news that their residents are still using it. So china alone has not managed to fully suppress the use of crypto. Maybe if it was true the whole world had the same rules and users would be penalized it could happen.
But so far I see Bitcoin developing in a good direction. Many countries of the world are adopting its technology. They (the government) want to keep going and don't want to be left with fiat money. So many countries make up CBDCs. The current world government can only regulate, killing this industry is too difficult.