What happen if Bitcoin shutdown?

[Zanab247]

I am just wondering, what will happen if Bitcoin shutdown?

Oh you think BTC will live forever before? No, it will not live forever and you better know it now so that you will not invest all your money in one coin in the community because, another coin will take over from BTC when it disappear from the market. That is why you need to invest little money on some altcoins in case some thing negative happen, you will not too feel bad because you have other investments that will help you to recover from the loss.

Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

BTC is a decentralized currency that is not control by the government and the government have no power to shutdown BTC all over the world which is among some of the advantage that is giving people joy to continue investing in BTC and, continue hodling BTC until the price reach to their satisfaction before they can sell to make more money.

[tbct_mt2]

BTC is a decentralized currency that is not control by the government and the government have no power to shutdown BTC all over the world which is among some of the advantage that is giving people joy to continue investing in BTC and, continue hodling BTC until the price reach to their satisfaction before they can sell to make more money.

If they cooperate with each other, at massive scale, with many nations that have big proportion of Bitcoin mining hashrate, they can gain enough network power to do 51% attack. It will be like the end for Bitcoin but honestly I don't think it will happen.

Because there are not many countries on Earth, with governments can 100% control everything in their countries. One or two countries like China, North Korea can not change anything of Bitcoin decentralized network. For nations in Western, I believe with their Democracies, they will not be able to do this because citizens will seriously fight for their freedom and future of Bitcoin.

[CryptoHeadlineNews]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

Just as the invention of the Internet changed lives and drastically influence the way we do things and relate with one another, so did or has the invention of Bitcoin ever since 2009 change the way we transact with people both within and across borders in the tastes possible time, of which when it comes to shutting down, I don't think the possibility of it happening soon as possible, reason been since it's not been control by anyone (i.e either governments nor it's  Central banks). While secondly, any attack on Bitcoin, will surely affects the entire crypto market.

[SOKO-DEKE]

I am just wondering, what will happen if Bitcoin shutdown?Will the market crash?

I do not believe that Bitcoin can go away, and even if it could, I do not believe that it will happen anytime soon because of how quickly people are adopting Bitcoin. If Bitcoin were to shut down, the market would undoubtedly collapse.

How about the effect of this to altcoins?

I don't think you need to ask this question because it is very simple to answer and will definitely affect altcoins. I don't think altcoins can stand on their own, and that is the reason why whenever the Bitcoin price is going down, you see almost every altcoin going down. Most of the tokens you are seeing whenever they are going down will be pumps. They are even the worst shitcoin because they just use that pump to attract people to scam them, and that is why the pump can only be used for a few hours. Altcoin doesn't have pillars to stand on its own with the existence of Bitcoin.

Can government shutdown Bitcoin?

Though their intentions are not succeeding, governments are making every effort to take down Bitcoin. For governments, that will not be an easy task. I can't really talk about what will happen in the future, but assuming it's straightforward to implement, the government ought to have had its strategy for a while now.

I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

If it were easy, hackers should have done more than enough damage to Bitcoin investors by stealing almost all their funds. The only way hackers will cause a lot of damage is through exchanges, and that is why you are always advised not to leave your money on exchanges but instead save it in non-custodial wallets.

[moneystery]

luckily bitcoin is run by a large community so if the government/hackers want to shut down bitcoin altogether they need to go after all these people and that is a very difficult thing to do.

and if the government/hackers were successful in carrying out this action, you can imagine how massive the impact would be on the crypto market globally, perhaps the prices of ethereum, monero, etc., would fall significantly and losses could be estimated at billions of dollars.

however, this will not be possible considering how large the bitcoin market is and how many banking and government institutions have joined it. and even if bitcoin is disrupted there will be a community ready to defend it and maintain its existence.

[Woodie]

I am just wondering, what will happen if Bitcoin shutdown?

It's good to ask questions but fortunately for us Bitcoin operates as a decentralized system which means it has no centralised system of pulling the plug.

Will the market crash?

Imo crashes always happen in crypto and this is because BTC is vulnerable to speculation and news.

How about the effect of this to altcoins?

Altcoins usually follow bitcoins foot steps, so if BTC goes do expect them to go down and vice versa.

Can government shutdown Bitcoin?

It doesn't have the resources to pull this off.

I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

Like I said earlier, bitcoin is going nowhere mate!! Just don't over think about the ifs because you need a positive mind to play the long game.

[tottong]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

If the assumption is that bitcoin can be turned off by the government then I want to ask you this question again and why didn't they do that before? Let's take it a step further and assume that happens, then the altcoin market will suffer chaos of a much worse nature than bitcoin. Exchanges will experience chaos resulting in closures and there are many people who will suffer losses and this scenario will make the face of crypto and exchanges suffer a setback or it could be that we will return to the time when the beginning was not yet discovered.

But on the positive side maybe we won't see that scenario happen because if you look at the process, it's almost impossible to happen and the government would have done that a long time ago if they could. In terms of mathematics, perhaps this will never happen unless we are faced with a third war where any source can destroy the continuity of human life.

[Japinat]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

The government has no full control over bitcoin because its decentralized. They can obviously banned it nor restrict the people from using bitcoin but they can never put an end to it, they can never force it to shut down. That's the advantage of being centralized, one thing that bitcoin users have an edge over fiat users.

However, if let's say that bitcoin has been force to shut down, then most likely the whole crypto market will lost its value too because bitcoin is the lifeblood of the crypto market, altcoins are only dependent on the image of bitcoin.

[nakamura12]

Oh you think BTC will live forever before? No, it will not live forever and you better know it now so that you will not invest all your money in one coin in the community because, another coin will take over from BTC when it disappear from the market. That is why you need to invest little money on some altcoins in case some thing negative happen, you will not too feel bad because you have other investments that will help you to recover from the loss.

There may be a chance that an altcoin will take over Bitcoin if ever it shuts down but I don't think it will be very high because as you have known that altcoins are created based on Bitcoin. If Bitcoin haven't used by many people then there won't be altcoins created today. That's why many people say that Bitcoin is the all father crypto and I agree with it.

[ZAINmalik75]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

If BTC is shut down then there will remain nothing to crash as the market is with BTC and if BTC is gone then the market is too, all money will vanish from the world, even from the universe but it all depends on what type of shutting down are you talking about. For example, if it's long term, or all the mining nodes are destroyed, or total lockdown from governments, etc.

If BTC goes down ALTs will also go down but alts will remain functional, the money will be withdrawn from alts too but when Investors will see some stability in the ALTs like when they think it is safe to invest in alts and they will not be shut down like BTC then they will throw their money into ALTs.

And all of the BTC dominance will be converted into ALTs and its dominance will increase which will result in good things because more dominance means more money inflow in ALTs and more demand there will be. No government can't shutdown BTC and neither can hackers because BTC is not Centralized.

[Kasabus]

Though this question has been asked in the forum multiple times but I don't wanna sound rude and wants to answer upto the point as follows:

1. Government can only ban or shutdown something which they control
2. Bitcoin is not controlled by government hence they cannot do anything to it.
3. Government can never shutdown Bitcoin because if it had capability to do it then they would have shutdown Bitcoin long time ago.
4. In worst case scenario of Bitcoin shutdown then yes Altcoins will become worthless atleast for a while post which there are chances of new beginning with new concept.

Since government cannot shutdown Bitcoin they had even doing smear campaigns and targeting exchanges to discourage people from using it.

Majority of the crypto exchanges are centralized so it's really possible that if they can't shut down Bitcoin, then exchanges are highly susceptible on that. But I guess the government are still fair on centralized exchanges, they won't impose shutting down if it had not seen any anomaly while the operation is ongoing.

All those exchanges that have been put to an end have their own issues, and those issues have become huge and uncontrollable, the reason why shutting down remains the last option.

[Finestream]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

As long as bitcoin remains decentralized, shutting it down is highly impossible. Yes, the government may have the final say about bitcoin and continue to attack it but it does not lost the fact that bitcoin cannot be manipulated or controlled by any group or third party. It can be banned, but the government cannot make it fully vanished like thin air.

This is the good thing about bitcoin, thanks to Satoshi for having a brilliant mind of making it decentralized. If not, then bitcoin would have been attacked and shut down in it's early existence.

[Vaculin]

People who think about this are obviously not knowledgeable about bitcoin. Because if they have prior knowledge about bitcoin, they will never try to question it's nature and potentials, especially that bitcoin has already existed over a decade and yet shutting down was still not experienced.

Although the future remains unpredictable for Bitcoin, but if we chose to keep the positivity about bitcoin and always longs for its long term success, then thoughts like this should never be entertained.

[Ryu_Ar1]

Why is bitcoin closed and who can close bitcoin now? that is a question that must be thought of first because with the current nature of bitcoin, no one can close bitcoin.
The government? they also won't be able to do that because what is happening now is that the government can only ban bitcoin not close it.

But if in the end something happens to bitcoin then the answer is definitely only one, namely the market collapsed. because regardless of anything we realize when the king dies then those under him will also lose the figure of the king who made them destroyed.
Likewise with bitcoin which until now is still above altcoins so that when bitcoin stops and finishes (although now it is impossible) then the others will also follow.

[Fivestar4everMVP]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

A straight up answer is that..
1. Government can not shutdown bitcoin, they've probably tried more than a million times and have failed, so, if it was possible for them to shutdown bitcoin, they would have some long time ago.

2. Hackers can not shut down bitcoin either, hackers are not more sophisticated than the government, so, if government tried and failed, hackers won't succeed as well. And besides, governments also tried to shut down bitcoin through hackers but still failed.

And yeah, if bitcoin shutdowns for what ever reason,  it is imminent that the entire crypto market will crash to ashes, bitcoin is the pillar that is currently holding the entire crypto market, including that if altcoins, fortunate enough, bitcoin is completely decentralized and out of anybody's control, so it cant be shut by any entity.

[philipma1957]

Fortunately, the government cannot shut down Bitcoin, and it is in no one’s power to shut down Bitcoin. I am very sure that if the government could do that, they would have probably done that a long time ago (rather than just Banning it). In general terms, I think it’ll take the rise of a new innovation that is greater than Bitcoin to rise for Bitcoin to be considered as being shutdown. But what could be more than such cashless money with so much value… I see nothing except Bitcoin.

I have a question what is the government. We have many many many countries with many many many rulers.

can a government declare it illegal? the answer is yes any government can do that. Some have.

Let's talk murder. All governments have declared murder illegal (yeah I know most killings are declared illegal not all just must.

Yet we have killings . So if every government said btc was illegal we may have some btc but less than now.

I just do not think every government will do this.

[oktana]

Fortunately, the government cannot shut down Bitcoin, and it is in no one’s power to shut down Bitcoin. I am very sure that if the government could do that, they would have probably done that a long time ago (rather than just Banning it). In general terms, I think it’ll take the rise of a new innovation that is greater than Bitcoin to rise for Bitcoin to be considered as being shutdown. But what could be more than such cashless money with so much value… I see nothing except Bitcoin.

I have a question what is the government. We have many many many countries with many many many rulers.

can a government declare it illegal? the answer is yes any government can do that. Some have.

Let's talk murder. All governments have declared murder illegal (yeah I know most killings are declared illegal not all just must.

Yet we have killings . So if every government said btc was illegal we may have some btc but less than now.

I just do not think every government will do this.

Honestly, I did put this into consideration. It’s the same way as saying that haters can’t bring something down because you know that everyone can’t be a hater at the same time. Yes, we’ve seen Bitcoin being assumed to be illegal, but just because a country doesn’t want it doesn’t mean that they’ve killed it. It will take the whole world saying no at the same time for Bitcoin to actually die/shutdown. And, even if some countries wanted to ban Bitcoin, we may see some reduced usage, but some passionate persons would find a way to continue benefiting from its usage.

[Dr.Bitcoin_Strange]

I feel there is only one way the government can shutdown Bitcoin, and that's if they attack all the Bitcoiners in the world and collect all their Bitcoin, gather it in one wallet, and destroy the private key of that wallet, they will gather all the accessible Bitcoin. But the question is, can the government be able to cease all the Bitcoins possessed by all Bitcoiners in the world? The answer is no!

The government can also decide to create a centralized system where they want all Bitcoiners to interact with their Bitcoin wallets, but it's not every Bitcoiner that will fall victim. By so doing, the government cannot totally shutdown Bitcoin, but if perhaps anything happens to Bitcoin, then it means there will be no more trend in the crypto space because Bitcoin happens to be the reason why there is still much trust in cryptocurrency.

[Wiwo]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

A straight up answer is that..
1. Government can not shutdown bitcoin, they've probably tried more than a million times and have failed, so, if it was possible for them to shutdown bitcoin, they would have some long time ago.

2. Hackers can not shut down bitcoin either, hackers are not more sophisticated than the government, so, if government tried and failed, hackers won't succeed as well. And besides, governments also tried to shut down bitcoin through hackers but still failed.

And yeah, if bitcoin shutdowns for what ever reason,  it is imminent that the entire crypto market will crash to ashes, bitcoin is the pillar that is currently holding the entire crypto market, including that if altcoins, fortunate enough, bitcoin is completely decentralized and out of anybody's control, so it cant be shut by any entity.

I quite agree with you on the basis of bitcoin being the pillar of the crypto industry as a whole,  and anything that can affect Bitcoin well being,  will also affect all other actions in the market today,  this is most likely the validity that has played out several time when there is a direct government law against Bitcoin or anti-Bitcoin policies,  all this are the primary reason Bitcoin is the king of crypto.

Bitcoin security protocol is highly and has protected Bitcoin from direct action from a third person who may not necessarily be adaptable

[Zigabel]

I am just wondering, what will happen if Bitcoin shutdown? Will the market crash? How about the effect of this to altcoins? Can government shutdown Bitcoin? I have a lot of question about this matter, because who knows, right? Also, how about hackers shutdown Bitcoin? What are your thought here? Let's discuss this.

talking about shutting down, what exactly do you mean by bitcoin shutting down, what aspect exactly are you referring to ? the only time such thing as that which you are referring to could be possible will have to be only when there is a regulatory policy by the government to restrict the usage of cryptocurrency in that particular region, then it could be possible that the usage of biitcoin in that region is restricted of which I'm very sure some persons will find there way around it and still transact in bitcoin and other cryptocurrency regardless of the said restrictions.

talking about hackers hijacking bitcoin which i dont think is very much realistic except they target wallets and probably hijack the wallet. but until then, biitcoin still remains formidable.