Topic: I have concluded that all governments together can't stop bitcoin (Read 1167 times)

Not because of the way you put it, but for me, it is just that I don't believe that the whole government in the world would have the same consensus about Bitcoin at the same time regardless of whether we think the Government doesn't like Bitcoin.
You see, the world has existed before Bitcoin and will still exist without Bitcoin but the Fishes, well you know and sure Bitcoin has shone a new light on financial investment and I too don't see it stopping anytime soon.

I think the only way that cryptocurrencies can be stopped is if all people decided to just disregard and not use it. What drives the price of almost all cryptocurrencies is the general law of demand and supply. If government prohibitions can somehow affect its price, then a wide-scale global prohibition can somehow stop BTC, though it will definitely decrease significantly its price on the market, thereby making it obsolete.

Though what I mentioned above is highly unlikely to happen, still, we should not discount the possibility of it from happening. While its utilization is ongoing, better take the opportunity and grab such privilege of joining.

The chance of every government or countries uniting with each other is slim therefore the chance of them uniting to stop bitcoin is also slim. It is a crazy move to stop the internet because almost everyone is depending on it. Internet is very useful nowadays and many business now rely's with it.

Cannot imagine what the world will be without it. Wars are also impossible because the topic is about being united. They need to unite to stop btc and they are not going to kill each other because that was not their main objective. BTC is not dominating the world or the currency world, they need to stop over thinking because it is bad for their mental health.

In my opinion, governments can't prevent P2P transactions and they can't control decentralized bitcoin transactions either. The government can only regulate users, trading platform owners, block wallet applications on google play and so on but the government cannot stop transactions.

Besides, the world's governments will not unite just to kill bitcoin because I believe there is a vested interest involved in it. It's okay some countries ban it while many others legalize it within certain limits. But if the government knew what bitcoin was then they wouldn't be against it. The government can take advantage of bitcoin users' income taxes, taxes from mining companies, taxes from trading platforms and so on. That would probably help state revenue instead of banning it permanently.

No government of any country can ban bitcoin forever, and this is like banning the internet which I don't think is possible.
and the essence of decentralization is to ignore a single point of control or hierarchical bureaucracy, so that bitcoin can always continue to exist even without the knowledge of the government, because they have no control whatsoever over it.

Even though few countries have made bitcoin legal, others may also thinking of making bitcoin, a legal tender. However, the majority of the governments will not accept it and they may even impose trade cut off with those countries who accpet bitcoin. Even all the government unite to control or ban crypto, yet the model developed by satoshi is soo good and decentralized that it cannot be banned practically.

I agree that they can ban bitcoin, but they cannot prevent people from using or investing in bitcoin. For example, I am aware that there are countries that have banned bitcoin in their jurisdiction, but there are still people who are able to get into bitcoin because it is an investment for them and they can earn money from it. Yes, this is illegal in that country, but they cannot prevent people from investing in or using bitcoin. I am confident that, in the future, the ban will be lifted and will be legalized in the country because it has a positive impact on the economy of the country, similar to what Brazil has done.

If you ask me if it's realistic the whole world will unite and ban bitcoins, I will answer a big NO. There is no way at this point that countries like Russia, China and USA all work together on one unified approach against bitcoins. The world is too divided to make something big like that happen. In a unrealistic world where everyone gets along and there are no wars between countries it could happen. Then all countries together could issue a ban on bitcoins and prevent stores or companies to accept and deal in bitcoins. This ban would still not mean that a 100% of the bitcoin transactions stop. I am sure a blackmarket for bitcoins would start to exist where the government has no influence.

Well, let's imagine a situation if all states ban the use of cryptocurrencies, and some even introduce severe penalties for those who violate such a ban. First of all, this means that all crypto-exchanges and cryptocurrency exchangers will be closed. People will only be able to send cryptocurrency to one another, and then, if they are not afraid that this will somehow become known to the relevant state authorities and punishment will not follow. But the punishment can be criminal, with the threat of imprisonment. If there is no prospect of cryptocurrency legalization, the number of users will drop not even hundreds, but thousands of times. Accordingly, the price of cryptocurrencies will also fall to a level at which it will practically disappear.
Whether this is possible in practice, we do not know. So far, the cryptocurrency is developing quite confidently and its position in our world is growing stronger every day.

the legal terms of bitcoin cannot be stopped either by any circle or community because bitcoin is an investment that is long-term and does not link itself to others so it is very difficult to remove from circulation, the government only has a way to prohibit its citizens from adopting bitcoin but not by banning it in a certain country

Government can only succeed in attacking and stopping Bitcoin when they have proper documentation of bitcoin and is not going to be possible that government can stop Bitcoin all over the world, Bitcoin is decentralized and the documentation is not handled to any body except Satoshi nakamoto release the documents to government before they will get access to bitcoin bridge

As long as we don't live in a completely centralized world, I don't see how could Bitcoin be stopped. Even if a big state decides to ban it, with the present problems of the fiat currencies it is going to be a matter of time until people make request of Bitcoin to be unbanned. Remember, something that is rare and is regarded by the population as hard money will triumph in the end.

this may be completely impossible to happen despite the many oppositions against bitcoin from various countries but so far have not succeeded in stopping bitcoin as they have done, because bitcoin can only be stopped if a government forbids its citizens to adopt or conduct transactions in bitcoin then there is no other way than this because poverty is an investment that cannot be stopped circulating

Never that this will never happen because government of the world tend to have their own views in life and in their country so i will never buy the idea of this going to happen.

and besides Bitcoin decentralization and anonymity is one factor that is why this is not possible to come .

but anyway if the whole world go against Bitcoin ? then this is the end of the crypto world.

For something to ban worldwide goverment have to come together and well forget goverment people in general rarely come together they are busy fighting over race and religion. So government coming together well never gonna happen. What will continue to happen is rich exploiting poor and rich countries exploiting developing nation even after cryptocurrency become mainstream. To be Frank I feel like discrimination will increase multiple times after cryptocurrency. I love cryptocurrency but i am also aware of human nature which never changes despite of how much advance or whatever new technology comes.

If the U.S. and major European powers were to ban bitcoin, it would cripple the price for many years, but it would not stop bitcoin. What this would do is incentivize competing nations to adopt bitcoin as a way to circumvent American power and unseat the U.S. dollar as a global reserve currency. I am sure the U.S. understands this and that it's best to use bitcoin to prevent its weaponization by adversaries.

As far as government power goes, 1 government alone could not do anything, except perhaps cutting off the country from outside internet like North Korea or China, for example. But if every government in the world wanted to stop Bitcoin, all together they probably could do it. But then again, when has such a worldwide cooperation ever happened? Thats why Bitcoin will stay... Because too much corruption is what fuels the most incorruptable money.

Agreed. I personally think that no government, neither anyone or anything, could stop Bitcoin and crypto in general. Not unless electricity and technology fails, which I doubt will happen except if the world really fell in despair. I could confidently attest that nothing can stop Bitcoin because even with the pandemic and other crisis that the world is currently facing, crypto still persisted and continuously growing. That is why the only way for the governments to stop it is through stopping their people directly from embracing it through bans and other laws that prohibits its usage and such.

Hello BTT family,
What if bitcoin was legal in India?
When there is talk of cryptocurrency, how bitcoin can be excluded from the discussion. Right? As bitcoin has shown the entire world of investment that cryptocurrency can give high value return on investment. The highest ROI given by bitcoin in last 10 years than anyother project.
So if bitcoin becomes legal in India it could benefit everyone in the country like firstly the government. Government can make it legal or regularise so that it can earn from the tax which can help in economic growth and development of the country. Moreover India which in last 6 years has encouraged online transactions through UPI payments want to make aware of online transactions and which has been a great success. As government encourages online transactions next could be cryptocurrency. As I think so let's see. What you think about it?
Secondly India which has so much potential young youths in every field and sees opportunities in new sectors for growth. Bitcoin launching could provide a great opportunity for these young youths for there personal and financial growths.
Third is mining of bitcoin on a large scale should be encouraged with the help of renewable energy sources like wind, solar, hydro. This type of mining could increase in rise of new mining companies and which in return would provide good job opportunities.
This type of mining could control pollution also thus not harming our environment and this is good news for every one
So more jobs, new online transactions in form of cryptocurrency/ bitcoin, new companies, less pollution. Isn't this futuristic?
That's why I believe Bitcoin/cryptocurrency is future of our world.
Indian government do it fast don't be late on this.
Thanks guys for reading my views.
Was it good? I'm open to feedbacks  and discussion.

At present we can see the market getting manipulated by the Whales on the market. Particularly each and every small move by Elon Musk is making a big change in the market. Same as this if a big volume is acquired by specific country we can see the price getting manipulated same as now. Maybe that'll happen in a bit harder way. By the time nothing can cause the network get stopped. I believe in Satoshi, if he's the true innovator then he has got the ability to stop bitcoin.