Topic: Bitcoin is bigger than the government reason my Gov tried to blackmail bitcoin (Read 328 times)

What you said is true. Because I think that even before Bitcoin was invented, there were many criminal activities going on, but they were done through fiat currency. Moreover, even now, if we talk about money laundering, fiat currency is at the top from this point of view. So in my own opinion  banning Bitcoin by thought that  Bitcoin will only increase the amount of criminal activities or money laundering will be wrong.
Rather, I think the governments of different countries ban this Bitcoin for their own political and power and their interests. Moreover if I talk about my country crypto currency has been banned in my country where I saw in a report that about 4 million people of our country are connected with this crypto currency. In fact, what you said here has become point out. Even though so many people are associated with crypto currency it is banned because our current government's ICT Ministers do not know much about it. And they don't care much about it. Just banned it thinking it increases money laundering.

They banned bitcoin because they thought it would finance Hamas? I mean how are they banning it really? The biggest thing they could do would be making any exchange based in Israel not be able to work, that is literally the only thing they can do, they can't "ban" people having it, you can just hide it, and they can't ban other nations to use it neither, so all around the world if people want to finance anyone, they could still do it. The only thing they banned by this would be any Israeli who didn't had bitcoin to purchase new ones that's it, that's all they did so far.

I think governments still do not fully comprehend how bitcoin works, if they knew how it worked then they would know that they are not capable of doing something like this. It's decentralized, and it's global, so a single government trying their best will not end up with anything like this at all, it will not result with them being able to prevent anything they want to prevent, it's impossible.

Their is something I want us comprehend in terms of some countries banning bitcoin, if Israel should ban bitcoin it will not affect bitcoin technology and also bitcoin transaction in other countries, it will only affect people who is in that geographical environment of the country, and besides p2p will still be on going in the country mostly people who is bitcoin enthusiast will still be trading with bitcoin manually.

The only thing can affect a bitcoin existence on earth if it should be ban, is when a continent ban bitcoin,  and like four continent ban bitcoin transactions, that will affect bitcoin but it will not deprive people's not to transaction with bitcoin, a bitcoin is currency I know quite well that is not centralized in which government can control it and decide the factors that will regulates its value.

Bitcoin is exceptional currency that is independent of its own, so many countries has attempted to ban bitcoin and it never affected bitcoin existence, rather bitcoin kept flourishing and having more firms to the society, the issues of banning of bitcoin is what makes bitcoin to be more influential than other digital currency today..so Israel is not even in top ten list of countries that uses or embrace bitcoin.

Those who have tried to ban Bitcoin in the past are the ones who came forward to accept it whenever they saw potential profit from it. This is nothing new and big countries which could have a huge impact on Bitcoin by banning it has proven that they can't do such thing. The market could run on sentiments but not for long. Those who trade Bitcoin based on sentiment are always influenced by their emotions. Sentiment analysis is a thing but only if it's done right. Otherwise, you are doing it based on your emotion. One country banning Bitcoin does not mean that it will have a huge impact. Bitcoin is globally accepted but not yet everywhere. And to think that if a country's 100% population uses Bitcoin and suddenly it is banned there it will still make less impact. Not as huge as we think.

The question is, why banning Bitcoin in one country could have huge impact? Why people think that? Bitcoin is not centralized and it is spread throughout the world and people are contributing to it from all over the world. If some people are unable to contribute to it that's still many more who will keep on doing it. Even if the news is true the market may see a little bit of movement but it will correct itself. So nothing to worry about. Keep on holding till you see profit. That's how Bitcoin is and it will be.

Israel banning Bitcoin has nothing to do with Bitcoin itself but that's just Israel looking for means to frustrate the terrorist group (Hamas) in Gaza from getting funding through Bitcoin because it is the alternative way to use when all the banks are been monitored and controlled by the government. I don't like the approach that Israel government are using for this war, they have the most intelligence agency so there's no way they didn't know what Hamas were planning. If they were looking for an excuse to wept out the whole of Gaza, they just got one and that's what I think about the whole war going on. The civilians are the ones suffering for a war they didn't partake in. Can't the Israel military target only the Hamas group and not bomb everywhere and making people especially children homeless.

Now that they have banned Bitcoin, what do they expect those that were surviving because of Bitcoin in the country to do. The investors we had in Israel, the traders and other P2P merchant that had their whole life survive on Bitcoin, what should be their fate and the banning of Bitcoin doesn't stop the Hamas terrorist group from getting funding because any body or organization that's funding the group can still do it in various way so what's the purpose of their ban. The government just look for any excuse to paint Bitcoin black when it isn't the one commotion the crime here because Bitcoin is just a cureency and every cureency can be used wrongly. All I can say is that the ban won't last because there's a motive behind the ban and when that motive is achieved, everything will return back to normal.

I mentioned ML (money laundering) here because the OP was saying BTC/crypto was used in a war which means, it must be Money laundered to them, and there is no doubt that everything can be used for bad purposes, even if it is a book or pencil.  IYKYK. Well, ML can also stand for machine learning, but in war and BTC we might not use Machine learning terms, because the context of the post was about BTC and war and the suitable abbreviation can be Money laundering.

I first write full words and then there are short forms, to save word count, I usually write and am not able to keep track of my words, so I try to reduce word count as much as I can. And try to convey my messages in lesser words.

Yeah same thing.
China did make things that ended up with deflation in their country, I know the history, and I think you are the one who covered different events in which China dumped the market by banning BTC or Mining, etc. Well, I used to say, it testing zone of China (talking about HK--> Hong Kong).

Not really that bitcoin is bigger than government, bitcoin is independable of government, it can exist and succeed on it own even without the role of government, government were the ones that need to adjust by giving value to what the people want by adopting bitcoin for financial transparency and accountabilities, trust and freedom, the people request nothing other than these, but why can't they accept the request of those they represent and let everyone exist on his own independently.

Cash and fiat are more suitable for money laundering than BTC and people use it more for such purposes, but it doesn't mean BTC isn't used for money laundering, or to buy weapons or to do anything at all, take note that BTC is censorship resistant and permissionless and the owner can spend their coins however they like to do so, your keys; your coins.

It is worth mentioning that some people who use BTC do not understand it or know what they are doing, some people even think that BTC is anonymous, they don't know that it is pseudonymous and if you want some level of anonymity you have to use CoinJoin services, people like these can use BTC for crime and even link their criminal activities to their real identities on centralized exchanges and services.

At the movement government can only do two things really. One is to keep trying impossible ban of Bitcoin and other try to figure out how to leech more taxes out of by regulating it. That’s what I see when it comes to the topic of Government and Bitcoin. We should be ignoring such arguments because it’s been ages now Bitcoin is tried and tested but nothing really is happening with it. In fact various government bodies are trying to get involved with Bitcoin so that they can benefit from mega financial institutes. We all know it’s next to impossible to have bitcoin ban done completely. They say even if there are two computers left at the end of time Bitcoin will still survive the apocalypse. Bitcoin is big because it was unique since first day.

I'm sure no one has ever said that Bitcoin is meant to be a money laundering medium, we all recognize it as the most reliable mode of payment, convenient, transparent, and self-custodial. Misuse of anything can be possible when you put into the hands of everyone.

ML = machine learning haha (Kiding).
Opps hardest way to land money ? or Lunder Money.



Rules? I'm sure you're referring to the Policies, well China has a great History with the crypto market, especially with Bitcoin, they updated themselves with the developments in the crypto market to overcome some sort of local capital loss but I'm they must realize that whatever they've done was temp solution.

Hong Kong is not a second nation SAR (Special Administrative Region), with different political and administrative powers so you can say they are testing out things hehe.

It is not the first time countries are trying to blackmail bitcoin and its underlying technology.

We've seen loads of countries come up with laws and policies that stiffened processes for bitcoin adoption bit in the end, they still opened their gates to the tech and have been driving the adoption ever since.

I can definitely agree with that, Bitcoin is Bitcoin it cant be bigger than the government, we want Bitcoin to be a full tiem payment mode nothin more than that, till that milestone whatever we're expecting in reality will be achieved, at least in my view.


Haha, why people over fnatsize the Bitcoin ? Because they are in some sort of misconception of being rich over nights.


Hmm got it Lets use it.

Who Israel bans and who finances its enemies. The ban is just a fear from the government over Bitcoin's increasingly widespread popularity. Bitcoin does not act as a tool that can be controlled by the state like fiat currency, but its function and use can undermine the dominance of fiat money which is considered a tool that is controlled by the state.
Who can stop the development of Bitcoin. Governments can only prohibit Bitcoin from being used as a legal medium of exchange in their territory, but they cannot fully control the activities of people who still hold and use Bitcoin as a means of exchange for goods and services.

I can see some news about Israel from 2018, but as for the recent ones, I can only see an article about ordering dozens of crypto accounts (Binance accounts), and that Binance said it was following international sanctions rules.
So it's not actually a ban of Bitcoin, if it's based on this news. If it's something bigger, then I'd appreciate the links. I can see that some people in the thread are concerned about it as well because it's unclear what the op's post is truly about.

Yeah, bad topic it is, and the OP is not even able to properly state any facts to convince a reader why Bitcoin is bigger than the government. Just like you said, Bitcoin is Bitcoin while the government remains what it is. Perhaps if the government decided to get radical with all exchange, it's very possible that they can still make the use of bitcoin very difficult for every bitcoiner. For instance, if they appoint any anti-crypto agency body to monitor, arrest, and penalize any individual whom they fined using Bitcoin, then it will instigate fear in people, and many might slide back in Bitcoin adoption; even those that already have Bitcoin in their personal wallet would hold it there without moving it out.

Bitcoin network can't be stop (except the last miner gave up) but centralized services that gives life and price value to Bitcoin can be.  If the government get serious and pursue all banned on cryptocurrency activities, we might find ourselves holding a lesser priced Bitcoin.  We should not underestimate the authority of the government.  They have the power to hinder the growth and adoption of Bitcoin, it is that each government had their own stand on Bitcoin but if they come united to ban cryptocurrency and imprison users and supporter of the cryptocurrency, I do not know if we can still belittle the capability of the government. 

Let us be thankful that there are governments that is neutral and pro-bitcoin.

If we do really just simply stick into its whitepaper which is to create that p2p transaction without 3rd party intervention then lets just stick to that.It did really turns out that this simple system did really become that popular and being recognized and in the sense that this isnt something that could be controlled then it would really be just a normal approach or reaction for those governments who dont really like on things which cant really be controlled which it would really be that a normal reaction to have. Banning would really be their solution but its true that it didnt really made out that huge impact in terms of its value. Market corrections is really just that normal for a healthy market.Sentiments and news could really make out effects in overall price movement but it would really be just temporal.

Its not already surprising that government would really be doing those kind of acts whether they would really be banning or they would really be giving out some bad publicity towards Bitcoin and keeps telling
about its cons and risks but still it didnt really crashed or totally died and this is why places like El Salvador and its president did make such decision on making it as a legal tender or simply
talks about adoption instead on trying out to oppose it yet there's nothing they can do if they would really be having plans on blocking or banning it.
There's no point on doing that yet it cant really be stopped no matter what.

That's what a government means, controlling and governing. But no, government didn't accept fiat currencies they made it to control and govern its people.

Several governments are trying to adapt Bitcoin and not trying to control it, bitcoin is a protocol that cannot be owned like tangible things, so they don't have an option if people wants to use bitcoin in a transaction, this is also why governments are giving some warning about it where in fact this is not their priority to get their hands with. I believe there is one thing that governments can benefit from Bitcoin is getting a back a small portion of centralization to people who are using Bitcoin or cryptocurrencies in general.

Your title and post suggest that you are an Israeli and your government banned BTC just because rivals of your country, or vice versa, are using BTC to fund themselves in the war. Well, what you think it is is an attempt or an attack on the opponent. But they might be causing trouble for their own citizens like you. And you are now suggesting people like you hold back and use the BTC, right?

Well, to be honest, BTC was never meant to be used as war money, and I don't think it has been used as one, because that's simple money laundering, and BTC is not suitable for ML. You might not agree with me, but statistics show that BTC is the hardest way to land money.

I will say that China banned crypto for many reasons; some say they manipulated it, but there were energy and other crises, so they had to ban it, and now they have accepted the crypto, using their second nation (Hong Kong) to accept the BTC and use all of its features. BTC has something in it that governments have relearned and made rules around.

What is Israel beside bitcoin, who is government besides bitcoin, nothing can stop bitcoin, not even the government, ban or no ban, bitcoin remains irresistible, the only people that will be affected are the citizens in the country where this ban is being made, we can see right from the beginning, how the government have been fighting against bitcoin just because they realized the power it could give the people in having control over their finances, yet they couldn't stop bitcoin adoption, instead it keep increasing more and more.