How Bitcoin's Decentralized Nature Defies Government Control".

[Ummsha]

WITH THESE,OTHER GOVERNMENTS CAN LEARN MORE.

 Even if governments try to ban or restrict Bitcoin within their jurisdictions, it can continue to operate and thrive globally.....(Fact)

From my research I discovered China's Goverment made an attempts to banned Bitcoin,which is not going to be possible.
China's attempts to ban Bitcoin are a prime example of this. Despite multiple crackdowns and restrictions, Bitcoin continues to be used and traded in China, often through alternative channels and workarounds.

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

Moreover, attempts to restrict or ban Bitcoin could even have the opposite effect, driving more people to use it as a form of protest or to maintain their financial freedom. This is often referred to as the " Streisand effect" - where attempts to censor or restrict something only serve to draw more attention to it.

Overall, or let's say nationally,Bitcoin's decentralized nature and global reach make it a highly persistence  and adaptable system that can continue to thrive despite attempts to restrict or ban it.
 Bitcoin,its one of the most cryptocurrency that has biggest value in which we cannot do without.

[Upgrade00]

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

That will not be impossible. If governments clamp down on all exchanges which allows trade of Bitcoin and impose strict sanctions on anyone caught trading P2P it will reduce the use of Bitcoin significantly. There will be a few channels, which will be termed "black markets" that still allow trades, but not many will want to go down that route as it will be a crime at that time

An isolated restriction by one government will be difficult to enforce but a coordinated approach, which is highly unlikely to happen, will be more successful.

Moreover, attempts to restrict or ban Bitcoin could even have the opposite effect, driving more people to use it as a form of protest or to maintain their financial freedom. This is often referred to as the " Streisand effect" - where attempts to censor or restrict something only serve to draw more attention to it.

Only those who are truly using Bitcoin now to protect their financial freedom will join. Those who are only interested in the speculative value will look for something else to speculate on.

[Porfirii]

I think that this topic would fit better in the Economics board instead of here in Beginners & Help. (Or even in Politics & Society).

I agree with Ummsha that a coordinated global effort wouldn't kill Bitcoin. There would be always a few countries that would try to take advantage of the opportunity that the niche would offer. Look at El Salvador. And not only isolated countries: if the USA or the EU tried to ban it, then the BRICS would do the opposite, IMO.

In some sense, Satoshi was some kind of a genius when (s)he built such an incredible invention.

[Spaceman1000$]

WITH THESE,OTHER GOVERNMENTS CAN LEARN MORE.

 Even if governments try to ban or restrict Bitcoin within their jurisdictions, it can continue to operate and thrive globally.....(Fact)

From my research I discovered China's Goverment made an attempts to banned Bitcoin,which is not going to be possible.
China's attempts to ban Bitcoin are a prime example of this. Despite multiple crackdowns and restrictions, Bitcoin continues to be used and traded in China, often through alternative channels and workarounds.

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

Moreover, attempts to restrict or ban Bitcoin could even have the opposite effect, driving more people to use it as a form of protest or to maintain their financial freedom. This is often referred to as the " Streisand effect" - where attempts to censor or restrict something only serve to draw more attention to it.

Overall, or let's say nationally,Bitcoin's decentralized nature and global reach make it a highly persistence  and adaptable system that can continue to thrive despite attempts to restrict or ban it.
 Bitcoin,its one of the most cryptocurrency that has biggest value in which we cannot do without.

Government of most Nations usually frown's whenever their citizens have financial freedom, they want to control everything. That's why I always salute the developer of Bitcoin because he foresaw the future, that government would want to interfere with the financial investment of investors and they've proven him right by some of these sanctions some government have placed, so the best way to keep the government at bay is to make Bitcoin decentralized which will even increase the confidence of investors because most investors want to remain private.

[Ambatman]

Government of most Nations usually frown's whenever their citizens have financial freedom, they want to control everything. That's why I always salute the developer of Bitcoin because he foresaw the future, that government would want to interfere with the financial investment of investors and they've proven him right by some of these sanctions some government have placed, so the best way to keep the government at bay is to make Bitcoin decentralized which will even increase the confidence of investors because most investors want to remain private.

There's nothing like foresaw
It's quite normal
That was the essence of Bitcoin, bringing about financial freedom without the need of the banks or government.
It is decentralized because the centralised system has failed and the financial crisis of 2009 was a living evidence.

Bitcoin doesn't just defy the government control, it grants control to the public.

[Davidvictorson]

From my research I discovered China's Goverment made an attempts to banned Bitcoin,which is not going to be possible.
China's attempts to ban Bitcoin are a prime example of this. Despite multiple crackdowns and restrictions, Bitcoin continues to be used and traded in China, often through alternative channels and workarounds.

There is a closely related example of this kind of attempt to ban Bitcoin in my country. I reckon that if it were possible the government of my country would have long done that but since they can't, they are doing something closely related which is to ban crypto transactions and also send crypto exchanges doing business in the country packing.

Moreover, attempts to restrict or ban Bitcoin could even have the opposite effect, driving more people to use it as a form of protest or to maintain their financial freedom. This is often referred to as the " Streisand effect" - where attempts to censor or restrict something only serve to draw more attention to it.

Yes, following from what I said, there attempts to even clampdown on Bitcoin has had an opposite effect. And that effect is that they have made people to invest more in Bitcoin because of one of its features which is a store of value. People in my country re looking for how to save their wealth from diminishing with the failing economy via inflation and Bitcoin and come to the rescue despite the governments strong stance against it.

[Churchillvv]

In my opinion, governments have figured out how to control the use of bitcoin in one way or the other that's why they are limiting the tackling of bitcoin now. With the dropping down of Monero on popular exchanges shows that governments are against bitcoin specifically but are against whatever that has to do with individuals privacy.

Governments (international level) are not against bitcoin but are against privacy. Since bitcoin is not private as much as it was except through using services like coinjoin, mixers etc they would probably not be against bitcoin anymore.

[BlackBoss_]

In Bitcoin mining industry, there were many times and chances for people to do 51% attacks but nothing happen. We have to wonder why.

Reasons can be nobody will get benefit by doing such 51% attacks to revert the blockchain and assumed can steal bitcoin of people. Because after the attack, there will be massive fear and panic in Bitcoin communities and people will dump their bitcoins to escape the mess. Price plummets and attackers will nearly get nothing for harvest from their attacks.

Probably it's why some big Bitcoin mining pools year by year, did not make any 51% attacks, even they can do it together.

Decentralization of Bitcoin network, from hashrate to full nodes, is big barrier against government attacks too.

[Don Pedro Dinero]

Hey, OP, do you think you live in 2014 or something? It's 2024, wake up.

Despite the decentralised nature, usage is more centralised than ever today. The government is happy to buy on CEX, KYC, or the use of custodial wallets.

That's why today governments don't even consider banning bitcoin, because they have it largely under control. They know that the initial idea of building an alternative to the current financial system with a P2P use is not going to happen, and that this use will be reduced to a minimum.

Rather than an alternative, bitcoin has become a part of the current financial system.

[Aanuoluwatofunmi]

Even if governments try to ban or restrict Bitcoin within their jurisdictions, it can continue to operate and thrive globally.....(Fact)

They have made several attempts on that already but couldnt bring out anything substantial from it, that is why bitcoin have been having edge over any governemnt policiy or regulation because it is not centralized.

This is something which we can by our own self view and see from google because lots of informations were made available there concerning countries where bitcoin in not being permitted for use or seen as a legalized means of making payment, but with all these, the people still remain with their decision for embracing bitcoin because it satisfies them on what they wanted to have from handling their finances, this calls for more adoption on others who are willing to see the impact of bitcoin and will be glad they are also part of it train on a decentralized financial economy.

[cryptoaddictchie]

Moreover, attempts to restrict or ban Bitcoin could even have the opposite effect, driving more people to use it as a form of protest or to maintain their financial freedom. This is often referred to as the " Streisand effect" - where attempts to censor or restrict something only serve to draw more attention to it.

How can they attempt to ban bitcoin? Isnt it decentralized to fully censored that. Its quite impossible the only thing they can do is try to bring it down by imposing some heavy rules on countries involved in bitcoin but can they stop the users from using it? Still not isnt it. So I dont think government is really can be a hindrance to bitcoin adoption.

[EluguHcman]

We just can not underestimate the influence of the government over the adoption of Bitcoin because the masses tends to believe that whatever being approved by the government is more legit than the individuals and that is why factors of licences and approval is being a highily recommendation to reputabilities.

It does not make good presentation for Bitcoin attractions if the government is kicking against it because it would fume likely illegitimate out there to the unlearned.

Also realizing that Bitcoin can be traded with the fiats because not everyone users would be comfortable running their transactions on the traditional exchange such as the decentralized system else the utilization of Bitcoin would be limited to defy the fiats if enthusiasts disagrees to the accept the Centralized request.

Being sincere, Bitcoin can not reach that great height of expectations without the compliance of the government.
And be sure that if a government bans Bitcoin and the citizens could still maneuver to use it, then there is always consequences for such users because it would then become an illegal technology.

[Luzin]

That's why today governments don't even consider banning bitcoin, because they have it largely under control. They know that the initial idea of building an alternative to the current financial system with a P2P use is not going to happen, and that this use will be reduced to a minimum.

Rather than an alternative, bitcoin has become a part of the current financial system.

Yup, the government is not so dizzy. If they don't have access in the system, the government controls crypto from regulation. Even the government has given leniency because crypto is no longer a threat, but crypto has become the country's financial source from taxes. My country has also changed with this problem, and they get a lot of tax revenue.

Crypto has changed, no longer as a currency. Crypto is currently evolving as an industry. They print money by utilizing votality. It seems that Satoshi's plan to create Bitcoin as a pioneer of a means of payment has changed.

[Roseline492]

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

That will not be impossible. If governments clamp down on all exchanges which allows trade of Bitcoin and impose strict sanctions on anyone caught trading P2P it will reduce the use of Bitcoin significantly. There will be a few channels, which will be termed "black markets" that still allow trades, but not many will want to go down that route as it will be a crime at that time

An isolated restriction by one government will be difficult to enforce but a coordinated approach, which is highly unlikely to happen, will be more successful.

That's true because in as much as it seems that the government do not have a power over Bitcoin but at some point they could possibly have an influence to the users within there jurisdiction because after restricting all the exchanges they believe there citizens have access on in terms of dealing with Bitcoin transaction the population on Bitcoin will be reduced because it has created a limitation from any possible way people can easily reach out to Bitcoin and besides like you said if a sanction is given that whomever they caught dealing on any transaction will be jailed, the fear alone will certainly discouraged so many people so actually government cannot control Bitcoin but they can have a serious influence within those on there jurisdiction but the good thing is that even if a particular government imposes such thing, other countries will continue there Bitcoin investment.

[Zlantann]

From my research I discovered China's Goverment made an attempts to banned Bitcoin,which is not going to be possible.
China's attempts to ban Bitcoin are a prime example of this. Despite multiple crackdowns and restrictions, Bitcoin continues to be used and traded in China, often through alternative channels and workarounds.

I don't think China totally banned crypto transactions. If Binance did monthly transactions worth $90 billion in one month last year, I don't think the government is not aware of it. The Chinese government only made crypto transactions very difficult to reduce fraud. Don't also forget that Hong Kong looks like the crypto laboratory of China.

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

This post reminds me of the statement of Russian Finance Minister Anton Siluanov; "banning Bitcoin is like banning the internet". The government might not be able to totally stop people from Bitcoin transactions, but they can put in place measures which discourage people from using it. China would have been having a greater volume of Bitcoin transactions if not for the restrictions. I don't think people will want to risk dealing with Bitcoin if it will attract jail terms or huge fines.

[Dzwaafu11]

A coordinated global effort to restrict or ban Bitcoin would indeed be monumental and likely impossible to enforce. The internet and cryptocurrency technologies are borderless, making it difficult for governments to control or restrict their use.

I don’t think so. Did you know what it means when people say after God is government? Seriously, if they wish to ban every crypto operative, they will do that. In my country right now, Binance, which is the largest exchange, has been restricted from P2P, so through this way, if the government wishes to stop all the exchanges in the world from operating in their country, what did you think? What they want will be given, but it seems to me some people among the government also invested, and they are into crypto currency, and that is why most of this country can only restrict some features but doesn’t want to ban cryptocurrency in their country. 

Overall, or let's say nationally,Bitcoin's decentralized nature and global reach make it a highly persistence  and adaptable system that can continue to thrive despite attempts to restrict or ban it.
Bitcoin,its one of the most cryptocurrency that has biggest value in which we cannot do without.

Yes. Bitcoin is the biggest crypto currency and also has the highest value in the crypto market. It has been accepted in many places, and people are buying it as their digital asset. That is why, regardless of restricting people from using it, it’s still worth investing in because there are only a few places that did not get adapted to it, but many parts of the world are using bitcoin. 

[SquirrelJulietGarden]

I don't think China totally banned crypto transactions. If Binance did monthly transactions worth $90 billion in one month last year, I don't think the government is not aware of it. The Chinese government only made crypto transactions very difficult to reduce fraud. Don't also forget that Hong Kong looks like the crypto laboratory of China.

You can do fact check with Regulation and Legality of cryptocurrency in China.

It's illegal there and no signal from Chinese government that they will lose their regulation on it, but locals don't mind and still have cryptocurrency in their portfolios.

https://newhedge.io/terminal/bitcoin/legality-map
https://complyadvantage.com/insights/cryptocurrency-regulations-around-world/

China's central bank announced in September 2021 that all buying, selling, transactions, and mining of Bitcoin and other cryptocurrencies are illegal.

Countries Where Cryptocurrency Is Legal vs Illegal

Despite Its Illegal Status, Crypto Ownership Persists in China, Egypt and Others

An estimated 4.08% of the total population in China (or 58 million people) currently owns cryptocurrency. With that, China boasts the second-largest cryptocurrency ownership base globally, in spite of its comprehensive ban on cryptocurrency activities since 2017.