Topic: Can Bitcoin Ever Be Shutdown? - page 20. (Read 2900 times)
Governments can always get involved to shut bitcoin down, just like China did and there isn't much we can do.
1 government that has already declared itself to be an Enemy of Bitcoin (tm) could suddenly confiscate 80% of all existing mining hardware, and optionally attack the blockchain with it.
The chance of government shoting down bitcoin is not realistic because countrie have different policy .i think bitcoin remain whatever circumstances .Internet,electricity will continue to running bitcoin development.
I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I basically disagree on its shutdown. The nodes widespread is quite enormous and secured. It has come to stay for real. I believe it is being incorporated now into payment systems in some important places and meaning so meaning nothing can go wrong. And finally, since bitcoin thrives on the internet and electricity, it will take a ripple damaging effect from them to affect bitcoin's shutdown.
There are chokepoints like the exchanges or businesses, which might hurt the price a bit but long term it is incredibly hard/impossible to shut down. Really only the liquidity would be really hurt.
What do you think about decentralized exchanges like Bisq? Shouldn't they be unable to be shut down? I agree that they have nowhere near the volume of the larger exchanges but if the governments really started squeezing, how many people do you think would move over? Could it become the new norm?
YES, Definitely,
turn down the electricity all over the world and you will be sure that bitcoin will no longer exist!
turn down the electricity all over the world and you will be sure that bitcoin will no longer exist!
I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
Electricity and internet connection, these both things are important for bitcoin and play an important part in bitcoins life. Of course you can't access your wallet without internet and electric power. Bitcoin is completely depends on both For example for mining you need electricity, for trade you need internet.
which can shutdown the bitcoin is an internet connection that provides services to bitcoin, which can make bitcoin can not access by many people. and also country regulation can make shutdown of bitcoin
Why not ? What had started has to end , let it take alot of time but will end one day. No matter Bitcoin is the first decentralised leading crypto currency, it can end anytime and we can't do anything about it. But you don't have to worry about that now , I don't feel that there is anything that will stop Bitcoin now because Bitcoin is on a rise and there is no stopping now.
I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
I dont know what's on your mind.
too weird a question that not many people think. you don't have to think about things that will not find the absolute and true answer. they are just opinions and opinions. so why not plan for the future bitcoin or crypto? think back.
There are chokepoints like the exchanges or businesses, which might hurt the price a bit but long term it is incredibly hard/impossible to shut down. Really only the liquidity would be really hurt.
It can be shutdown of course. Well maybe the government will intervene but it seems impossible because of different views on bitcoin. Absolutely if there would be no internet and no electricity. And that is also impossible. So I guess it is not possible for bitcoin to be shutdown.
Never happen this guys. If have a dead day
How will bitcoin shut down if there isn't even anyone that has full control over it? Bitcoin is a decentralized bitcoin currency and yes there might be times that someone can try to manipulate the price but that will only be to a certain extent. As long as there is a demand for bitcoin it will never cease to exist.
The value of bitcoin is very large and very unlikely that it will happen. I am sure if there are still using bitcoin then bitcoin will still exist. bitcoin will not stop and die, this is the law of a currency. as long as we need bitcoin then we will still see that bitcoin still has value and can be traded.
I was just wondering, what would it take for the Bitcoin Network to be shutdown completely?
Aside from the obvious internet connection, if you mean by bitcoin network, then if all developers will forcely shut it down, it will be possible. Or if it didn't work out then it will be literally shutdown once community will never used this currency.
Anyways what you meant here? Literal shutdown or bitcoin network that isn't accessible?
Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
not just bitcoins that die if the electricity is turned off and the internet network removed. even the world will become chaotic, bitcoin will actually live even if electricity and internet die but access to use bitcoin missing, yaa this is actually our fear all, because I am sure 80% in this forum only have income through forumOther issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
bitcoin will never be shutdown even the most powerful people in the world cant shutdown bitcoin or government cant shutdown the only government choice is to ban it on their country since shutdown is not possible. satoshi himself can possibly shutdown bitcoin since he is the one who made it.
I dont tthink anything can ever shutdown bitcoin down, except if we don't have access to electricity or internet anymore, for some reason haha.
Well, no electricity, and no internet connection would kill BTC for sure! You wouldn't be able to make any transactions without these.
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
Other issue can be all the countries in the world ban BTC, but this will not restrict it's circulation, as no internet connection do!
Big yes for that the only big problem of bitcoin is if you dont have a enternet connection then you cannot do a transaction via offline method i hope someday developers can find a ways to change this fact
Bitcoin cannot be ever shutdown but if we are going to talk about the possible problems that we can encounter then i can say that bitcoin will not be able to be shutdown unless the internet will be turned off, the life and the access to bitcoin is from the internet so as long as the internet is alive then shutting down the bitcoin will not happen anytime.
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