Topic: I am writing an article on how to stop bitcoin. Can you guy help out? - page 2. (Read 284 times)

It would have made sense if you would have said that electricity would go off temporarily.
Electricity will never go off forever unless there is some new type of energy the drives the world and that won't be happening in next few generations at all.
So basically there's no stopping to bitcoin. It will probably stay here for the long run.

Stopping Bitcoins ?

-This would inherently be impossible since even in the worse case scenario the people who are holding, for example: Mr. Satoshi and the people who have actually lost their wallets ( believe it or not it all accounts for around 20 million!) These won't budge and thus the price would stay stable which would mean that:

It's impossible to STOP STOP! It's not centralized.
It's actually very possible to decrease the price but this would just mean that people will have an amazing buying opportunity and the price would recover really fast. Therefore I do think this is some piece of information that you should mention in your article.

P.S. it cannot be eradicated it will still make it's way up, we have numerous wallets just in our mobile phones working amazingly! A transaction can even be broadcasted over a radio lol.

Bitcoin's success is only made possible through global mismanagement of fiscal monetary policy.

The way to stop bitcoin is for nations like venezuela and zimbabwe to cease and desist in hyperinflating native currency through gross negligence and mismanagement of printing and natural resources. The united states, european union and other countries are following in the same footsteps. Driving demand for inflation protected assets like bitcoin to thrive.

Banks too have created a regressive financial environment for bitcoin and alt 3rd party payment systems to thrive through lack of innovation and progress of the banking sector for consecutive decades.

The overwhelming majority of assets and commodities in the world revolve around short term profit cycles. These factors also contributed towards creating a world where an asset focused on long term HODL like bitcoin could be successful.

Yes, as I've told it's very unlikely and impossible but we didn't even a pandemic will occur in our time, and with the advancement and technology that the world is having these days, this can still remain a myth until it happens. I'm just thinking too much about sci fi movies that I've watched but for sure this one thing will really be affecting bitcoin and might stop it temporarily until things go back as if it's going to happen.

Lol! That can only happen if the world moves to a nuke war on reality. Otherwise, such kind of things will only ruin the world economy with trillions of dollars worth losses. Bitcoin will definitely be impacted but more impact will happen on global businesses which depends heavily on internet and satellite infrastructure. So we can consider the possibility of this happening is zero.

Plus OP, for 51% attacks vs. Bitcoin, watch this Q&A with Andreas Antonopolous reply someone’s question about “what if a nation-state would coordinate an attack on Bitcoin through 51% mining power”, https://twitter.com/bitcoinmagazine/status/1197161029832265729

“Bitcoin has achieved a level of computing that no nation-state can overthrow it through computing alone”, Andreas Antonopolous

Add also like what if every ISP banned where Bitcoin or any forms of cryptocurrency (assuming you're reaching out to other coins as well) are being exchange.
Then somewhere in the lines of people still using VPN will answer that.

This is a very impossible thing to happen but you can include a global shutdown of the internet including the satellite networks. Although it's like a myth that's impossible to happen.
But who knows if someone crazy would do that and is very powerful and has the resources to make that casualty worldwide.

Bitcoin is not something you can shut it down easily just like the a normal device by cutting the power. Due to decentralization of bitcoin, even if you shut down some node on a country other nodes will keep doing the job without of any problem. However since nothing is impossible, there are ways to damage bitcoin. For example, doing the 51% attack if 51 percent of nodes confirm an invalid block with false data or another example be forcing all people in the world doing kyc If all governments make the decision to do that they can probably damage bitcoin. But, even after doing all these you can not stop bitcoin and in the worst case the price of bitcoin will be decreased periodically and then recover.

*this is the most powerful way to 'stop' Bitcoin 'lol'...
since the beginning of Bitcoin was created, it is no longer possible for Bitcoin to 'stop' from circulating. Bitcoin owners and traders will continue to exist and this will make its circulation lasting as long as the internet and the world are safe.

Market manipulation, an idea but it isn't really going to happen. It could be effective for a short period of time but in the long run? Hardly doubt it. Plus, a lot of people can see what Bitcoin is, and its true worth, so I doubt that would happen, not to mention that some may just be fake join in on the manipulation, and use an anonymous account to actually profit off of it.

Forks, I mean, it's been done and has been tested, nothing really happened. It just became another shtcoin in the shtcoin universe that would probably never go past what it came from.  

Government bans, I'm pretty sure history could answer the effectiveness of that. Not to mention it not working on BTC's early days, much so today with it's influence being incomparable to what it was back then.

Hacks, I mean if it was possible, it would've already been done. The value of BTC is enormous now, and you'd have expected anyone that could attack it's network would've already done so. 51% is deemed worthless as others have said, quantum computing is still for the future, Mt Gox is just an exchange that got hacked, no where near close to actually touching what Bitcoin is. Looked up Cryptsy and it seemed like it's just an exchange as well?

Just kill the internet man, most effective way to do it imo.

Ehm.. quite weird how you've been in the space for 8 years yet you don't know much about how most Bitcoin attacks could be countered easily with just few lines of coding.

Government bans cannot do much to BTC - India and China attempted to ban it, but it ended up as a failure. 51% attack is a VERY resource-hungry task that is easily redeemed worthless by the community, KYC can be avoided, underground markets usually grow huge in prices and hoarding can't realistically be banned when you have DEXs in existence.

Quantum computing is something that threatens the entire internet infrastructure if such computers were made specifically for hacking purposes (guess this will become something realistic at some point in the near future). Mt. Gox is just an exchange hack that never "stopped" Bitcoin from existing. It was only the people's fault for holding their money on custodial services, or some people were just unfortunate enough to be caught with their money on there right before withdrawing.

I don't think Bitcoin could be stopped. It could have its adoption slowed down or its price dumped heavily to the ground, but other than that.. nothing much can be done to it.

Stop? very difficult, even if the internet is dead even with only bitcoin devices will still exist. Bitcoin is a code program with security and decentralization proven to be very secure since 2008 the bitcoin chain in wallet core is very secure, except for the carelessness of wallet owners. How do you think you can stop this?

I agree with that, if totaly blackout the electricity in the world, so we didn't have access to use it anymore or maybe the world war. but why do we have to stop things that are already benefiting to us.

I think they want to control it instead, just take a look at the recent progress on KYC/AML policies and stuff like that. I bet the government will use this to eventually increase their income through taxes, which is way more profitable than banning crypto without any real result. The abuse of the network due to some bad actors will always exist, so trying to increase the control on how, who, where, and when they use it would be a better choice imo.

Bitmex is not Wallstreet. Coinbase also is not Wall Street. ETFs mainly is not even real Bitcoin just cash settled mainly and majority of it will not even touch BTC markets, so I think a lot of these here aren't even related. Institutional long shorts maybe want to manipulate markets but this has nothing to do with STOPPING Bitcoin?

ISPs can traffic non-Tor and non-VPN connected users who will run their own node. Not sure why should an ISP ban a node, since bitcoin is neither illegal or legal in most countries. Should I assume that you mean that governments will illegalize it? What government succeeded on stopping a p2p network? None. As for the mining traffic:  You just need to be internet connected in order to broadcast it. This can be done with a lot of ways such as with VPN and Tor if you don't want to be known to your ISP.

Assuming that governments will make it illegal, because they've tried and failed several times, I'll respond you with a nice example that has been discussed a gazillion times: Did the BitTorrent survive? It's been accused by governments since the majority of its users, use it for illegal purposes. That's the same with Bitcoin, they won't ban the protocol, but its use. They will not succeed, because no one ever succeeded on banning a p2p network, especially that big.

I believe that they should start adapting with it, at least those that haven't done it yet.

I doubt Bitcoin can be stopped for the simple reason that it is one of the most powerful, if not the most powerful symbol of hope in the modern world. And everyone hopes, be it the poor or the rich. No one would actually benefit from Bitcoin disappearing. Even if the price were to suddenly drop to under $1, there would still be people hodling  
My guess is that it would take an extinction level event to stop Bitcoin.

This brings in a new point. Can ISPs block or delay a node or miner traffic? Isn't the bitcoin related internet traffic hanging on the stratum protocol?
perhaps one can be tempted to say that if it does happen then we fork into using a new protocol. Then it will be a cat and mouse game.
Routing it over TOR would make the whole ecosystem quite slow, but is it still fast enough to keep the 10min block going?
Do I have it all wrong and the Bitcoin traffic is indistinguishable / piggybacking on the normal internet traffic?


Yes but government banning on/off ramps and illegalising the trade can and will affect the ecosystem. Pushing the whole system underground is the answer but at what cost? can it survive forever underground? will users still want to take a risk of using it? will the community still believe in Bitcoin at this point?
a lot of ifs... I know..

You've confused the ways Bitcoin can be stopped with its disadvantages. Everything you wrote about Wall street's manipulation, forks and government's bans already exists. But, Bitcoin is still here. How can this be possible?

Since constructive criticism is welcomed, let me respond you with counter-arguments. Here's why Bitcoin can't be stopped:

Decentralized.
Anyone is allowed to run their own node, with no permissions. The network works peer-to-peerly and thus, there's no border to "stop" it. There's nothing to be "stopped", only nodes communicating with each other through the TCP/IP protocol.

Censorship-resistant.
Since it's decentralized, there is no authority to freeze a transaction, which makes bitcoin censorship resistant to anyone who could govern the way money circulates. This frees people.

Anonymous.
Bitcoin is anonymous. Whether you want to call it pseudo-anonymous or not, it's anonymous if it's used properly. It doesn't require any IDs which makes it suitable for the unbanked.

Same rights.
It doesn't matter who you are. It doesn't matter what's your religion, your skin color or your country you're living. As long as you're internet connected you have the same rights as any other bitcoin user around the world. This globalizes a medium of exchange, which makes it very useful.

I'll be happy to get a response and continue this discussion argumentatively.