Can bitcoin be frozen? - page 3. | Bitcointalksearch.org

bryant.coleman

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Quote from: cryptoanalyzer on January 11, 2017, 08:36:56 PM

Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Theoretically, it is possible. There are a few things which the government can do, but none of them are very attractive propositions in my opinion. Let's look at various scenarios one by one. First of all, the government can declare the possession of Bitcoin as a criminal offense and arrest those who are suspected of holding Bitcoins. But this can unleash a legal firestorm for the authorities. Another options is to block various exchanges and online wallets. But if a good VPN is used, these restrictions can be over-ridden. Another option may be to conduct a 51% attack, using the super-computers in the possession of the government.

Maymun_lavigne

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Not impossible do it. Bitcoin's ownership is anonymous. decentralization , open source.
although open source, can not be anyone freeze it. unless they have access to Bitcoin's wallet
and it must also be very difficult to do.

craigpo

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Bitcoin can freeze if the community stops using and contributing. But I wonder if ETH is going to rise above Bitcoin.

darylalban

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The government will always want to regulate and monitor because they want their cut. But to make it widespread, they government does need to endorse it.

DanetonBit

newbie

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can somebody tell me why the US bans its citizens from ICO. I have done some research but can fathom it!

DanetonBit

newbie

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c

SushGo

full member

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No, its not possible to freeze the all the bitcoins. It will be required lot of computer power and more advanced technology which is not available at the moment.

seattletu

sr. member

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The improvement of bitcoin is developing so quickly that a few nations have effectively received bitcoin as a money that has a comparable capacity to genuine currency,with support of different gatherings that help bitcoin so bitcoin winds up plainly solid and growing,with some of these realities positively difficult to make bitcoin kick the bucket and I believe it's "outlandish" for the following couple of years.

In the event that you take a gander at the current bitcoin advancements and are upheld by development of financial specialists to dependably put resources into bitcoins.It appears to be impossible that bitcoin will freeze by any gathering.

Karen23

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In my own understanding it is impossible that bitcoin would totally replace fiat money since not all people can access to technology. Bitcoin can be use as alternative to fiat currency.

nick_nick

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Thank you chaser, It's a good advice.

I will buy one flash card and dedicate it to bitcoin storage.

BitcoinNational

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Join The Blockchain Revolution In Logistics

It will become increasingly difficult to freeze or stop Bitcoin as Bitcoin is becoming more powerful.
If you cut Internet in your country, maybe you can, otherwise I don't want to think to the time and ressources you'd need to stop it.

Frank0209

sr. member

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It's really hard to control. If they want to freeze bitcoin in their country I think the only way is cut the internet and i only know 1 country can totally control the whole internet connection in their country is North Korea.

Shiller2009

full member

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Track yes, there is no freeze, as you imagine, when people make deals every day. Is that forbid the Internet, but why freeze if they can get a benefit from it, depending on how to turn.

wearepoor

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Quote from: shohelalam on July 27, 2017, 01:38:30 PM

Quote from: cryptoanalyzer on January 11, 2017, 08:36:56 PM

Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

NO government Can not any step for stop this Program. Because Its Depend On Miner Networking If the are stop Mining then its happen. But it not possible. The Government can't take any step for stop it because the don't know any record about bitcoin and the don't know where is setup and where controlling.

Government can not do anything, they can just declare the bitcoins and activities related to bitcoins as illegal. As bitcoin is decentralized currency, government has no authority to control and monitor it.

hawkins

hero member

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as far as I know, it can not. for now, it is impossible to freeze bitcoin. unless you have a separate site, and have such a system. bitcoin transactions happen every day, and even that makes bitcoin increasingly used. making it freeze will only degrade its quality.

Nameless27

sr. member

Activity: 322

Merit: 253

If the government and the citizen of that support to banned or frozen bitcoin transactions I think it can. But it would not an easy hide and seek to those who used backdoor. They can only stop when those filter of Internet Service Provider may be given orders to do so. Still Virtual Private Network can be used. It's a digital war between the two until one of them surrender.

Cocobrayy

sr. member

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Bitcoin can not be frozen, because the excess Bitcoin can be sent anywhere via the internet without having to go through a bank or sending agent. Can also be used in any country and can not be frozen. As well as Bitcoin transactions conducted unconditionally and there is no limit transfer of bitcoin.

Luis34

member

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Bitcoin i don`t know but the exchanges can.

dashingriddler

legendary

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In Russia Putin froze it's use to all it's citizens.
It was enforced but never regulated.

So it goes on and he saw it can not be stopped.
So he is joining the technology by using it under his own terms.
Look out for the next chain he is creating with the help of Vitalik the creator of ethereum in the coming year.

ninche

sr. member

Activity: 610

Merit: 261

yes but in exchange sites not in wallets

Topic: Can bitcoin be frozen? - page 3. (Read 14196 times)