Bitcoin is unstoppable and cannot be stopped by any states or government. Even activists cannot interfere Bitcoin's success. Even if you're in a country that totally banned Bitcoin and Altcoins you can still earn and participate blockchain activities. Even China cannot stop their people to get Bitcoin because blockchain relies within the internet networks, any place that has internet has Bitcoin access. It is for everyone and for the people.
Topic: Can bitcoin be frozen? (Read 14196 times)
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
I don't think bitcoin can take place of fiat currency . The government will never let any loss happen to their currency through some other digital currency . Bitcoin can totally change the economy of a country by making it decentralized . Moreover , government will not have track on any of the transactions and activities of the users i.e they can't let bitcoin take place of fiat money.
We do already witness on the things been done by the government. Banning, regulating ICO and other related things but still bitcoin is standing strong.
My answer is NO. Any third party willing to stop bitcoin need to invest a lot of money, a lot of time, a lot of people and resources.
Just check Andreas Antonopoulos on Youtube talking about this and you will find out how convincing he is.
The more btc continues its growth the more difficult it is to control it!! Period!
Just check Andreas Antonopoulos on Youtube talking about this and you will find out how convincing he is.
The more btc continues its growth the more difficult it is to control it!! Period!
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
I don't think bitcoin can take place of fiat currency . The government will never let any loss happen to their currency through some other digital currency . Bitcoin can totally change the economy of a country by making it decentralized . Moreover , government will not have track on any of the transactions and activities of the users i.e they can't let bitcoin take place of fiat money.
Frozen as in like how assets can be frozen by governments? This is completely impossible. It's possible for them to monitor your known addresses, however, and track movements. If they somehow order you to not move any Bitcoins, they can't stop you, but they can punish you.
Bitcoin is unique because of it's decentralized. If government decide to control bitcoin, bitcoin will lost as decentralized currency and government usually will apply tax on bitcoin just like fiat.
Well it's just same as fiat but the different only bitcoin is on digital form !
there is a perfectly easy way to "freeze" the financial assets of almost anyone by a government; simply put the suspected persons in jail. they dont have to monitor, they can actually prevent you from having access to any device (because you are locked in a box) and other people that you could communicate your wishes to. it takes very little in the united states to enter this legal state; simply "resist" arrest and you just bought a cheap ticket lol.
the only time a government can regulate a thing with little effect despite the penalties, is when that thing is so ubiquitous its too hard to police (jaywalking and marijuana). bitcoin is neither of these.
If bitcoin is able to be frozen, I think that eliminates the decentralized appeal to it. At that point they're just doing what everyone else like quickbooks does.
But I do like the escrow feature that blockchains/apps provide
But I do like the escrow feature that blockchains/apps provide
Frozen as in like how assets can be frozen by governments? This is completely impossible. It's possible for them to monitor your known addresses, however, and track movements. If they somehow order you to not move any Bitcoins, they can't stop you, but they can punish you.
Bitcoin is unique because of it's decentralized. If government decide to control bitcoin, bitcoin will lost as decentralized currency and government usually will apply tax on bitcoin just like fiat.
Well it's just same as fiat but the different only bitcoin is on digital form !
The only way your coins can be "frozen" is if the they push through that blacklisting idea. A group of people wanted to blacklist coins that were stolen, so they would be somehow tagged and ignored by the network, but I sincerely doubt it will ever happen. You coins can also be frozen if the transaction is not propagated correctly, but it can be corrected.
Interesting! What happens to people who unknowingly buy coins that have been blacklisted?
in my opinion,,, I guess bitcoin would never frozen while the number of users and business people themselves who use them to transact,,, it's just possible that its use will indeed be set according to the rules in force in their respective countries
These are the questions that show how unstoppable Bitcoin is, and how it doesn't truly in any real way at all suffer any of the problems that the largest currencies of today do iu
Frozen as in like how assets can be frozen by governments? This is completely impossible. It's possible for them to monitor your known addresses, however, and track movements. If they somehow order you to not move any Bitcoins, they can't stop you, but they can punish you.
it's not possible if the government will take something
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
Its not possible to do , bitcoin is decentralized and no one can stop the transaction or a specific address from functioning. We switched from cash to credit cards and I think Its safe to say that cryptocurrencies will takeover in the future but probably governments will create their own digital currencies that are under their control.
No possible way until the government puts in place a system to faze out fiat
The only possibility I am aware of to freeze or modify bitcoin would be a 51% attack on the network, but as this didn't happen until today this scenario is very unlikely.
Only if a government will declare it as its only official currency it can take Fiat's place, but this also didn't happen until today and this scenario is also very unlikely and also not necessary for us bitcoin users.
Only if a government will declare it as its only official currency it can take Fiat's place, but this also didn't happen until today and this scenario is also very unlikely and also not necessary for us bitcoin users.
When the authorities find criminal activity using Bitcoins I think they can freeze these Bitcoins, but just because it's being used by criminals. They have a reason to do this. To freeze everyone's Bitcoins they would need to create a new rule. Doing this the government could take out BTCs from circulation, killing the currency. That would be an easy way to do this and finish Crypto-Currency that threats estabilishment's empire.
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
To my knowledge, from the development of bitcoin usage until now seems there has been no plan/news on bitcoin will be possible to shifting fiat currency, and if it will be planed certainly the governments will more consider it again and it will not be easily to decide it. But I think logically, I'm not believe that it is very likely to happened.. I think that until the future bitcoin will remain as a digital currency that can be said as an alternative currency from a fiat currency in general, and will always coexist throughout history.
Now I do not see the possibility of assimilation of cryptocurrencies in the economy. In order to use bitcoins the economy should work and this is only possible when using Fiat. This is the main reason why bitcoin or Aldon will never replace Fiat. There is also a variety of other reasons.
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
I don't think so, in my opinion bitcoin and fiat money are used in different places so we still need both, now fiat money is still the main choice of people especially those who live in village or remote areas because at this time it's use is more effective, and on the other hand the use of bitcoin still limited to internet connection. so I think we still need both.
you mean price Back to zero . it is impossible but all things can be happen but generally bitcoin have fixed number with many trusted people so that it will nerver loss it vlaue
I think it will never happen because bitcoin is the world most popular digital currency and the market cap is on the top of all other currencies. How is it possible that the world’s top digital currency can be frozen? This kind of news disappoint people and may the rivals of bitcoin can viral such news. Otherwise nothing will be happen to bitcoin and all the people in the world will see that bitcoin will be the main stream in the near future.you mean price Back to zero . it is impossible but all things can be happen but generally bitcoin have fixed number with many trusted people so that it will nerver loss it vlaue
I think it will never happen because bitcoin is the world most popular digital currency and the market cap is on the top of all other currencies. How is it possible that the world’s top digital currency can be frozen? This kind of news disappoint people and may the rivals of bitcoin can viral such news. Otherwise nothing will be happen to bitcoin and all the people in the world will see that bitcoin will be the main stream in the near future.
Why do you think bitcoin can be frozen? How?
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