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Topic: Can bitcoin be frozen? - page 7. (Read 14196 times)

hero member
Activity: 896
Merit: 500
January 16, 2017, 05:51:20 AM
#28
The government can ban bitcoin in a country, like in the history in several country the gold is banned and in which case the bitcoin can not be used. So this this sense yes the government can freeze the bitcoin in a country.
"Frozen" in question here might I think not like that. Frozen in question is dismissed totally bitcoin program by the government, so it can not be used again. Indeed you are right bitcoin could be banned in some countries, but that does not mean bitcoin can be frozen. Because there is no any government could frozen bitcoin, so bitcoin can not be frozen by any government despite bitcoin banned.
legendary
Activity: 3248
Merit: 1070
January 16, 2017, 02:50:01 AM
#27
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.


So you're saying that no matter what, bitcoin cannot be traced or be frozen by the government. I guess that makes the government alittle uncomfortable.

traced yes but only if the sender reveal his name because he did a purchase on some shop online for example

but frozen no unless you stop al the computer i the world, and there is not a single government that can do this alone
sr. member
Activity: 504
Merit: 250
January 15, 2017, 02:16:16 PM
#26
The government can ban bitcoin in a country, like in the history in several country the gold is banned and in which case the bitcoin can not be used. So this this sense yes the government can freeze the bitcoin in a country.
sr. member
Activity: 406
Merit: 252
Veni, Vidi, Vici
January 15, 2017, 11:13:23 AM
#25
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
The government can freeze bitcoin in other way like banning them in their country but it doesn't mean that bitcoins are froze completely out there i saw many countries where the bitcoin has been banned by their government guess what? people still using it and they the government can't stop it since bitcoin is decentralized as long as you controll your private key no one can't freeze your money for whatever you do even if you do something illegal and one more important holding your bitcoin you will never be taxed, thats why i like it.

This is far from true. Currently this is miners matter. That is, if for some reason I don't stay to reason, miners they don't want to put your transaction into any of their mining blocks you can't spend your coins. Of course nobody can spend your coins instead of you but are completely worthless. This is the same as you have fiat money in any bank but you can't withdraw because there is a court decision. Some common methods are punitive and feather forking. Generally speaking is something that is not common. This does not mean that it can not be done
legendary
Activity: 1120
Merit: 1000
January 15, 2017, 10:18:42 AM
#24
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
The government can freeze bitcoin in other way like banning them in their country but it doesn't mean that bitcoins are froze completely out there i saw many countries where the bitcoin has been banned by their government guess what? people still using it and they the government can't stop it since bitcoin is decentralized as long as you controll your private key no one can't freeze your money for whatever you do even if you do something illegal and one more important holding your bitcoin you will never be taxed, thats why i like it.
newbie
Activity: 6
Merit: 0
January 15, 2017, 05:04:45 AM
#23
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?
For me i think no because bitcoin is legal and found by year 2009? if government want to stop this program they can do it on the past years and many people being affected if they stop this program, i think millions of people is using bitcoin now if they stop it i think it will cause a mess. So for me they can't stop this currency Smiley
newbie
Activity: 42
Merit: 0
January 13, 2017, 07:23:27 AM
#22



So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?

Stay away at any web wallets if you are pointing to the bitcoin storage.

Go on with the hardware wallets instead. For more infomative informative, you can googled some of it with the keyword "Bitcoin Hardware Waller" or "Ways to Secure Bitcoin". Just give a time for research and you that will benefit to you.

Thank you. It really helps
legendary
Activity: 2814
Merit: 2472
https://JetCash.com
January 13, 2017, 03:58:32 AM
#21
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.

I can see a government using this idea. Whilst they wouldn't be able to block the spending of coins on their blacklist. They could taint them in their records, and log all forward transactions. Whether a mixer could avoid this, or just create more "tainted" coins would be a matter for government policy. Obviously if all output from a mixer is tainted, then that would reduce the utility of the mixer.
sr. member
Activity: 406
Merit: 252
Veni, Vidi, Vici
January 13, 2017, 03:17:13 AM
#20
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.

      Maybe yes maybe no. Say that there are some miners who refuse to include certain transactions in their block there will be others who will. There is something stronger than this which is called punitive forking if the miner insists to blacklist the transaction from an address. He needs the majority of hash power and must announce that he won't mine if chain has this transaction. Rest of the miners under this threat may decide to follow him but if they don't maybe they will create the longest chain and not only all mining process from this miner will be wasted but this transaction eventually will be in the longest chain. A more effective process is called feather forking and first time I listened it from a MOOC about bitcoin and cryptocurrencies from Princeton University but a more detailed explanation for every interested user has the forum https://bitcointalksearch.org/topic/feather-forks-enforcing-a-blacklist-with-sub-50-hash-power-312668
legendary
Activity: 2688
Merit: 1065
Undeads.com - P2E Runner Game
January 13, 2017, 01:31:28 AM
#19



So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?

Stay away at any web wallets if you are pointing to the bitcoin storage.

Go on with the hardware wallets instead. For more infomative informative, you can googled some of it with the keyword "Bitcoin Hardware Waller" or "Ways to Secure Bitcoin". Just give a time for research and you that will benefit to you.
hero member
Activity: 938
Merit: 500
January 13, 2017, 01:29:50 AM
#18
Bitcoin can never really replace the fiat. It is more like cyber gold that preserves the value. Some central banks may issue their own cybercoins which can in partial to replace the fiat.
legendary
Activity: 1582
Merit: 1064
January 12, 2017, 07:28:54 PM
#17
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.

That would imply that coins would not be fungible and is highly unlikely to happen.
Your bitcoin and my bitcoin are both equally valuable to the bitcoin community.  Smiley
newbie
Activity: 42
Merit: 0
January 12, 2017, 02:49:36 PM
#16
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.

That sounds reassuring.
newbie
Activity: 42
Merit: 0
January 12, 2017, 02:48:18 PM
#15
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?

Since in most of the cases, bitcoin web wallets doesn't providing your own private keys, definitely you are out of control to your precious coins if you used their services for storage purposes. If ever there is a fraud activity on that said web exchanges then chances of loss coins is really possible.

About the frozen thing, basically bitcoin can't be frozen unless, as stated above, you are using a third party exchanger to hold your coins.

Security must be a good practice to enhanced if you want your bitcoins to be safe.


So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?
Bitcoin network can't be destroyed. When you hear some media coverage of another "bitcoin hack" they are talking about some 3rd party service being breached - like BTC exchange.
You see, bitcoin satellite services have central point of failure. Bitcoin as a network is decentralized, therefore free from direct influences.

What are good security measures while owning bitcoin? Simple: be sole owner of your private keys & backup your wallet in safe place (the best way is memorize your wallet's seed).

Hmmmm.....I'll keep that in mind.
legendary
Activity: 1400
Merit: 1001
January 12, 2017, 12:23:04 PM
#14
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?

Since in most of the cases, bitcoin web wallets doesn't providing your own private keys, definitely you are out of control to your precious coins if you used their services for storage purposes. If ever there is a fraud activity on that said web exchanges then chances of loss coins is really possible.

About the frozen thing, basically bitcoin can't be frozen unless, as stated above, you are using a third party exchanger to hold your coins.

Security must be a good practice to enhanced if you want your bitcoins to be safe.


So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?
Bitcoin network can't be destroyed. When you hear some media coverage of another "bitcoin hack" they are talking about some 3rd party service being breached - like BTC exchange.
You see, bitcoin satellite services have central point of failure. Bitcoin as a network is decentralized, therefore free from direct influences.

What are good security measures while owning bitcoin? Simple: be sole owner of your private keys & backup your wallet in safe place (the best way is memorize your wallet's seed).
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
January 12, 2017, 12:21:12 PM
#13
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.
newbie
Activity: 42
Merit: 0
January 12, 2017, 10:21:07 AM
#12
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?

Since in most of the cases, bitcoin web wallets doesn't providing your own private keys, definitely you are out of control to your precious coins if you used their services for storage purposes. If ever there is a fraud activity on that said web exchanges then chances of loss coins is really possible.

About the frozen thing, basically bitcoin can't be frozen unless, as stated above, you are using a third party exchanger to hold your coins.

Security must be a good practice to enhanced if you want your bitcoins to be safe.


So what is your recommendation? What wallet is best to be used for storage? What security measures should be taken into account?
legendary
Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
January 12, 2017, 10:07:49 AM
#11
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?

Since in most of the cases, bitcoin web wallets doesn't providing your own private keys, definitely you are out of control to your precious coins if you used their services for storage purposes. If ever there is a fraud activity on that said web exchanges then chances of loss coins is really possible.

About the frozen thing, basically bitcoin can't be frozen unless, as stated above, you are using a third party exchanger to hold your coins.

Security must be a good practice to enhanced if you want your bitcoins to be safe.
hero member
Activity: 615
Merit: 500
January 12, 2017, 10:05:00 AM
#10
Bitcoin is a digital-exchange, increasingly in the future, people will increasingly need brevity or speed the time and place to transact quickly and easily. I see this will happen but not in the near future but will lead there and the government will not be able to stop it even if no one can trace it but it was not solely because of his Bitcoin, but rather to the person.
newbie
Activity: 42
Merit: 0
January 12, 2017, 09:47:22 AM
#9
Can bitcoin take Fiat's place in time? Suppose it does? Can govetment step in and stop this program?

Bitcoin cannot be frozen. But if you use an online wallet or store your coins at an exchange, these can be seized or frozen.
As long as you hold the private keys to your wallet, nobody can take your bitcoins away from you.

So never trust the internet and be careful about your property. Right?
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