Topic: Can Governments Kill Bitcoin? - page 7. (Read 2007 times)
Simultaneous ban by many governments Probability (next 5 years): medium to low Effect: instant loss of relevance States can not destroy bitcoin because of its decentralized arrangement, but can control and limit its use in its jurisdiction. For example, you can close bank accounts of crypto companies, and in general create a business related to crypto currency. At the same time, if such a ban is adopted only in some countries, its effect will be limited - the business will simply go into more friendly jurisdictions. This is exactly what happened when last year the Chinese government banned the country's crypto-exchange exchanges. It is likely that other governments will follow in the footsteps of Beijing, but in my opinion, a global ban is impossible (imagine the achievement of such a consensus in the UN). In addition, bitcoin is already legal in Japan. Nevertheless, if the United States, the EU, the United Kingdom and China introduce a joint ban, it will be very dangerous. However, it is more likely that they will regulate the crypto-currency market in order to protect individual investors and collect taxes.
What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
So far, we have seen the actions taken by the bans, the bitcoin restrictions imposed from Korea, China have their purpose. It seems that the great success of bitcoin, eth and the crypto market are gaining interest from governments by substantial revenue streams. Their initial plan could be to motivate and enable their domestic coin to grow. At least for me it is ICX and NEO tend to grow and more and more investors are interested.
Yes, I think you are right, according to the increasingly worsening situation, this news comes to us and the Crypto money world is very badly banned. Bitcoin banned the good blocking of the states every bitcoin trade will hurt the community whatever it is that it will hurt the community.
The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.
What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
They won't and can not kill bitcoin but they can make bitcoin less effectively or do something to control it.What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
They ban ICO, exchanger, trading,...
Control is not the word but keep on being used by the people in a country making Bitcoin less in demand and having a and dump at that state. If Bitcoin is continuously dropping, it is expected that people will either take advantage of it or leave Bitcoin alone.
I don't think that any government will kill Bitcoin and that isn't even the intention.
Regulation attempts don't have the goal to destroy Bitcoin or other cryptocurrencies but to define some rules and policies that could actualy help Bitcoin to grow.
So all this governmental actions in many countries are often seen in the wrong lite and often exaggerated in their intentions.
Regulation attempts don't have the goal to destroy Bitcoin or other cryptocurrencies but to define some rules and policies that could actualy help Bitcoin to grow.
So all this governmental actions in many countries are often seen in the wrong lite and often exaggerated in their intentions.
this might happen and make a lot of competition, and there will be more resistance from the government if they already have their own digital money, but I am sure Bitcoin will become more popular because of the competition.
Yes government can kill bitcoin with enough evidence that it harms their citizens. Like here in the Philippines, bitcoin might be banned and it is because of the people who uses as scam to gain or to outweigh other citizens.
If desired, the government can develop its economy with the legalization of bitcoins, and miss this chance and stay in the outsiders.
The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.
What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
They won't and can not kill bitcoin but they can make bitcoin less effectively or do something to control it.What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
They ban ICO, exchanger, trading,...
The latest news is that the US government is look closely at Bitcoin. A number of governments such as Russia and China are also planning to issue their own digital currencies. They clearly see a financial threat from Bitcoin.
What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
What do you think? Can governments kill Bitcoin and replace it with their own digital/crypto currency?
I am believe that government can not kill bitcoin or other cryptocurrency because bitcoin system is decentralized. Bitcoin growth because community and people who believe that bitcoin can bring new monetary system.
Government can obviously ban the cryptocurrency exchanges since they have the power to do so, but in no way they can "kill" the bitcoin.
The main reason that government quotes for banning crytos is that it makes easy for people do do money laundering since the funds of a country can be easily sent abroad. But, that is not really the case. The majority of the people that deal on local exchanges are the ones who complete their KYC and do small term trading. By banning such exchanges, the government is only encouraging people to find an alternative way of trading by registering themselves on foreign exchanges.
As a result of this, a lot of people would like to open foreign bank accounts and move their funds over there. This way, money laundering would be done even by those who initially didn't intend to do it.
So Bitcoins being banned by government is not really a positive move and will have its own consequences in future.
The main reason that government quotes for banning crytos is that it makes easy for people do do money laundering since the funds of a country can be easily sent abroad. But, that is not really the case. The majority of the people that deal on local exchanges are the ones who complete their KYC and do small term trading. By banning such exchanges, the government is only encouraging people to find an alternative way of trading by registering themselves on foreign exchanges.
As a result of this, a lot of people would like to open foreign bank accounts and move their funds over there. This way, money laundering would be done even by those who initially didn't intend to do it.
So Bitcoins being banned by government is not really a positive move and will have its own consequences in future.
Basically regulations could be adopted to monitor and control the crypto exchanges. A government has the purchasing power to buy up large quantities, drive the price up then sell and collapse it, thereby massively increasing volatility. These market fluctuations could be aggravated by a covert government programme of destructive funding and public disinformation. This would make doing business in any cryptocurrency more difficult.
I don't think that any government is interested in "killing" bitcoin, but rather in regulating it, having more control on it and so limiting any form of "abuse".
They would have to kill the internet if they want to kill bitcoin but we all know that is not possible. The best thing the governments can do is to put regulations in place for the trading of coins to control the market.
The government's ban on bitcoin will end in failure!
Because bitcoin is a new form of payment, it makes it easier to get and sell goods through BTC. BTC makes trading more convenient and faster!
Because bitcoin is a new form of payment, it makes it easier to get and sell goods through BTC. BTC makes trading more convenient and faster!
No, governments cannot kill a bitcoin but they can kill you. They can do it in several different ways. Of course, it speaks only about our physicality because no one is pouring into the soul to bend it.
Either way. The Chinese proverb is true - may you live in interesting times. A horse with a row of people who will predict what will happen in 2 years!
Either way. The Chinese proverb is true - may you live in interesting times. A horse with a row of people who will predict what will happen in 2 years!
countries like Russia and US making their own digital currency to fight with Bitcoin, but it is not in line with the purpose of the blockchain, and i think Bitcoin will not be killed.
I agree with you, because when I see the current Governments in some countries have issued regulations that limit values thus making the bitcoin continued depressed, but guys don't have to doubt all will definitely be running smoothly back along with public confidence towards the bitcoin
no government can kill bitcoin. the blockchain technology was not designed to be manipulated by the government agencies or by the global financial laws as it is a stand alone technology. one of its motives is to decentralize the financial way in which the government regulated financial policies. thanks
Government can obviously ban the cryptocurrency exchanges since they have the power to do so, but in no way they can "kill" the bitcoin.
The main reason that government quotes for banning crytos is that it makes easy for people do do money laundering since the funds of a country can be easily sent abroad. But, that is not really the case. The majority of the people that deal on local exchanges are the ones who complete their KYC and do small term trading. By banning such exchanges, the government is only encouraging people to find an alternative way of trading by registering themselves on foreign exchanges.
As a result of this, a lot of people would like to open foreign bank accounts and move their funds over there. This way, money laundering would be done even by those who initially didn't intend to do it.
So Bitcoins being banned by government is not really a positive move and will have its own consequences in future.
The main reason that government quotes for banning crytos is that it makes easy for people do do money laundering since the funds of a country can be easily sent abroad. But, that is not really the case. The majority of the people that deal on local exchanges are the ones who complete their KYC and do small term trading. By banning such exchanges, the government is only encouraging people to find an alternative way of trading by registering themselves on foreign exchanges.
As a result of this, a lot of people would like to open foreign bank accounts and move their funds over there. This way, money laundering would be done even by those who initially didn't intend to do it.
So Bitcoins being banned by government is not really a positive move and will have its own consequences in future.
No of course governments cannot kill Bitcoin, they can only produce legislation to restrict its usage within the borders of their own country. Let's also remember that governments change every few years in most countries so even if a country has a negative stances now that can completely turn around after the next election.
Yes government can kill bitcoin in the way how they want to do it for example if there no more people who are appreciating bitcoin they can kill it easily
How can they kill Bitcoin "easily", why haven't they done it already if this was indeed the case? Bitcoin is decentralized and has a format to prevent any manipulation from a central figure. Only certain aspects of mining is somewhat centralized. Trust me if it was so easy to 'kill' Bitcoin then it would of likely been done already. I mean it's had several attempts on it, but as of today all have failed.
Yes its true, if the Government can easily kill bitcoin i think they kill it before the bitcoin is not popular. Bitcoin cant easily kill because if its easy then it already replace by another crypto currencies, because there are lot of people wants to copy the format of bitcoin but they cant do it.
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