Will government stop Bitcoin?

[bitteeinbit]

After reading this article, I'm worried that the government will succeed in destroying Bitcoin. What do you think?

(Please read the article and address the author's points.)

http://www.forbes.com/sites/harrybinswanger/2013/06/04/dont-be-silly-the-entitlement-state-wont-allow-bitcoin/

[bitteeinbit]

either Bitcoin allows us to enjoy monetary freedom or in the attempt to destroy it, they highlight their true colors

Very good point, but is it really a win-win scenario? What if people want a dictatorship? People have voted themselves into dictatorship many times. Why not in America? America is not what it used to be. It's starting to look more and more like Europe.

[MineForeman.com]

Not to mention it would be the first time in history the governments on the world decided to agree on something.

[viboracecata]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

[bitcoin_bagholder]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

They could also make it illegal for businesses to accept bitcoin.

[bitteeinbit]

I don't mind if people want a dictatorship. I only mind when they try to force it onto me.

There's no such thing as opt-out tyranny.

They could also make it illegal for businesses to accept bitcoin.

Exactly.

[12345mm]

If they want to - yes - very easily - label it treasonous to possess or engage in the transfer of non-governmental currencies and back it with the obvious fact that bitcoin is capable of supporting terrorism - done

[sakira]

After reading this article, I'm worried that the government will succeed in destroying Bitcoin. What do you think?

(Please read the article and address the author's points.)

http://www.forbes.com/sites/harrybinswanger/2013/06/04/dont-be-silly-the-entitlement-state-wont-allow-bitcoin/

hmm it in my administration has not accepted legally bitcoin 

[freedombit]

If they want to - yes - very easily - label it treasonous to possess or engage in the transfer of non-governmental currencies and back it with the obvious fact that Bitcoin is capable of supporting terrorism - done

Sure, anyone can say label Bitcoin treasonous. Bitcoin users can always call out any government official that labels Bitcoin treasonous. Say that they are treasonous. I really don't think any government official with half a brain and an ounce of sanity would label Bitcoin treasonous.

Who will win the hearts and minds of the people?

Just keep educating people. On that note, this community should seriously start considering the use of press releases:

http://en.wikipedia.org/wiki/Press_release

For profit and non-profit organizations use them all the time, why can't individuals? If you have a great story to tell, there will be writers there ready to share it.

[bitbaby]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

That will stop any business from accepting bitcoin. But in my view government will only impose more regulations on exchanges to stop scams and black money laundering.

[nextblast]

For governments like North Korea where Internet is banned, yes, bitcoin can be stopped.
The governent's attitude towards innovations like bitcoin can to some extent reflect the openness of a nation.

[bitcoin_bagholder]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

That will stop any business from accepting bitcoin. But in my view government will only impose more regulations on exchanges to stop scams and black money laundering.

The ultimate goal of diehard bitcoin visionaries is for bitcoin to completely replace fiat. In this scenario there would be no conversion to fiat. Think about what could theoretically happen if governments banned the exchange between bitcoin and fiat but allowed businesses and individuals to accept bitcoin for sale of goods and services rendered.

[kpitti]

Governments will not agree on this step, they are not able to agree on another important steps.
I found that Forbes is publishing informations with negative and shading points for Bitcoin. May be it`s only my view, but I red several topics like this there.
Some countries can take further steps to stop exchanges for fiat, but as they are not able to stop Internet then Bitcoin can`t be stopped.

[nikona]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

That will stop any business from accepting bitcoin. But in my view government will only impose more regulations on exchanges to stop scams and black money laundering.

Yeah..Regulation on exchanges might be the only way government would like to work things out. My govt. doesnt care as of now..about BTC. I can own 10000BTC n not pay any taxes..no one really cares.!

[turvarya]

Wow, I bow to the stupidity of 'mericans.
By that I mean the "article" it self, and some comments here.
I thought that might be an interesting thread, but, boy, was I wrong.

[Netnox]

The government can only stop the exchange between bitcoin and fiat, they can not stop the bitcoin network, thus bitcoin can not be stopped

They could also make it illegal for businesses to accept bitcoin.

Still bitcoin can't be destroyed, people will use it underground and nothing can stop it which actually will attract more and more people to the point where we are now.

[sherbyspark]

After reading this article, I'm worried that the government will succeed in destroying Bitcoin. What do you think?

(Please read the article and address the author's points.)

http://www.forbes.com/sites/harrybinswanger/2013/06/04/dont-be-silly-the-entitlement-state-wont-allow-bitcoin/

Its not possible to . I don't think they can stop the network.
They can only make it illegal, but even after that it won't stop  , but will continue, maybe at lower price. But almost impossible, to cease it from existing.

[AGD]

No. Call me Sr.

[Meuh6879]

No ... because gov is DEBT after all.

inefficiently at the max ...

[Coogan]

If governments can't even stop bittorrent then they have no chance of stopping bitcoin. I don't even understand why they would even be able to stop it under what law? I'm sure the governments will actually like it as it's one more thing they can tax.