I have concluded that all governments together can't stop bitcoin - page 2.

KaliLinux

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Quote from: Gozie51 on March 13, 2021, 01:22:16 PM

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ? Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

As you must have known by now that the impossibility is that all Government of the world come together as one to stop Bitcoin as some countries have already started accepting Bitcoin as a legal tender while others are looking into the same direction even if not confirmed yet and the way Bitcoin is Developed as a Decentralize entity which is not really controlled by a single person, that makes it even more difficult to completely stop by any one or group of Government.

ziyaaa

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Governments can do whatever they want. They can ban it, impose some restrictions on it etc. . But when it comes to stopping Bitcoin for good, it is not that simple of course. If Bitcoin was in the control of someone or some group, it'd be possible. But it is not.

Kong Hey Pakboy

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Quote from: Lordhermes on June 19, 2021, 02:41:08 AM

Quote from: Kong Hey Pakboy on June 19, 2021, 01:39:05 AM

It's not that worthy stopping bitcoin so I am pretty sure that every government stopping it is impossible also worth saying that the people will always find a way to access bitcoin if they are being prohibited accessing it.

Not all Government are basically against Bitcoin. Some country have already legalized Bitcoin as a digital currency, while some government officials are investing secretly in Bitcoin. I think is high time, most country accept Bitcoin for good, and besides, crypto is a decentralized payment system so it impossible to stop using Bitcoin.

That's already given, that's why I didn't mention it, OP is talking about the hypothetical stuff so you really have tto exaggerate a bit and you can't seem to do that. These are what if situation that is being talked about and they concluded that it can't be done.

clint25n

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I really agree that not all governments can stop bitcoin, actually bitcoin is not dangerous for its users or its investments. Maybe the government is afraid if we no longer save money in banks. Therefore the government is trying to stop bitcoin itself

Expecto

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Yes, it is true that all the governments can't stop Bitcoin even if all of them ban cryptocurrencies. And I also don't think that they will even try that. There is no meaning in banning Bitcoin. Letting people use cryptocurrencies will help the country economically too.

Lordhermes

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Quote from: Kong Hey Pakboy on June 19, 2021, 01:39:05 AM

It's not that worthy stopping bitcoin so I am pretty sure that every government stopping it is impossible also worth saying that the people will always find a way to access bitcoin if they are being prohibited accessing it.

Not all Government are basically against Bitcoin. Some country have already legalized Bitcoin as a digital currency, while some government officials are investing secretly in Bitcoin. I think is high time, most country accept Bitcoin for good, and besides, crypto is a decentralized payment system so it impossible to stop using Bitcoin.

Kong Hey Pakboy

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It's not that worthy stopping bitcoin so I am pretty sure that every government stopping it is impossible also worth saying that the people will always find a way to access bitcoin if they are being prohibited accessing it.

tiCeR

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Quote from: Kasabus on June 17, 2021, 05:47:34 PM

Quote from: ?? on ??

Banning Bitcoin also means banning the entire Bitcoin mining industry. Some countries in the world have a surplus of electricity and they raise miners as a way to make a profit. Bitcoin is too powerful and the government cannot ban their people because people always have a way to use Bitcoin. It is only possible to cut off the internet to ban Bitcoin altogether, and this cannot happen.

Banning bitcoin would not really come to the extent of shutting down the internet connection because all other companies' operations that are greatly run by internet would greatly suffer too. So the least that the government can do is to impose restrictions for bitcoin and its users, and all it crypto exchanges. But since crypto is decentralized, the government cannot control it fully so they cannot put and end in it no matter how they want it.

You can just look at critical infrastructure like airports or other mobility services that involve a great deal of internet connection. It is impossible at this point to shut down the internet on a global level. Still, the idea that all governments will work together one day to achieve one goal is utopia. Governments won't work together because they don't do so anyway. You have all kinds of little networks that are against each other. That will forever be the case. If one shuts Bitcoin down, someone else sees an opportunity to legalize it.

Kasabus

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Quote from: ?? on ??

Banning Bitcoin also means banning the entire Bitcoin mining industry. Some countries in the world have a surplus of electricity and they raise miners as a way to make a profit. Bitcoin is too powerful and the government cannot ban their people because people always have a way to use Bitcoin. It is only possible to cut off the internet to ban Bitcoin altogether, and this cannot happen.

Banning bitcoin would not really come to the extent of shutting down the internet connection because all other companies' operations that are greatly run by internet would greatly suffer too. So the least that the government can do is to impose restrictions for bitcoin and its users, and all it crypto exchanges. But since crypto is decentralized, the government cannot control it fully so they cannot put and end in it no matter how they want it.

adzino

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They can, but they won't or else people will be against them. Imagine all government of the world made owning bitcoin illegal in their country. This would cause a mass disturbance to market. General people will highly like lose faith on bitcoin since they won't be able to use it illegally. Others will continue using it, but on the process will be convicted for breaking the laws. People can still continue using it as long as they don't interact with fiat currency. So yeah, the government together can't stop bitcoin but they can stop people from using it. But that's very unlikely to happen.

ChiBitCTy

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Technically this is not true. If all governments came together and spent enough money to do so they could attack the network and take it down. This would cost a fortune and won't happen, but it is possible. The issue I see with governments banning bitcoin is not that it could take down the network or anything like that, but by banning bitcoin, they then will ban the use of exchanges which will make it much more difficult for people to buy/sell/transact. Now that may not be a huge deal for all of us, as we know we can use decentralized exchanges and Over The Counter trading, but for most people that either won't be an option or they won't want to take the time/effort to do it.

Yamifoud

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Yes, they can't really. If they tried, the crypto industry would turn into a black market for cryptocurrencies.

The situation will be getting at worse when Bitcoin will turn into a black market. And this will get more hated and chase by the government as it was becoming the center of illegal transactions. This is not the thing we've dreamed of, the creators aimed for the betterness of our life which is why he creates Bitcoin. It becomes unfortunate when the market turns like that and all the government will considerably not think the help of Bitcoin to the present generation and for the next one.

dmamigo

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Bitcoin or other altcoins can be stopped by all the governments if they come together but this is not possible because every government has a different perspective against this industry. Few of them are strictly against Bitcoin and few are a little considerate. As of now, only a few countries have completely accepted cryptocurrency and its transaction.
I just hope they don't go crazy and even if they do I feel people will protest a lot and to maintain peace they will eventually withdraw these kinds of stupid decisions.

evilgreed

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Quote from: Gozie51 on March 13, 2021, 01:22:16 PM

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ? Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

Look man, you need to understand that this world that we lived in has been doing fine even before the immergence of bitcoins or any altcoin on that matter. Even if we say that people who have tried it have gotten addicted to it like a smoker to his cigarettes, if you cut off the supply, even with unbearable withdrawals, the person gets over them and gets to live a life free of smoking. The same goes with this industry. If the leaders of every country in this world decides to unite for the first time and totally brand crypto currencies as illegal, then we would be forced to stop. Besides, just like how they promote nicotine gums and allow vaping to aide people that stopped smoking, they also have the choice to make an alternative to crypto currencies that we use having the same feel but programmed to be fully centralised and controllable.

perfect999

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Quote from: Gozie51 on March 13, 2021, 01:22:16 PM

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ? Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

I don’t think anyone will even come up with the idea of banning bitcoin, because of the top officials in politics are Bitcoin investors , so if they choose to ban it, then they lose as well. But even at that, if they decide to ban bitcoin and the whole cryptocurrency market, they will only be banning centralized exchanges and companies like Coinbase, Binance, and the rest of them.

But not the decentralized ones like LocalBitcoin, Paxful, etc. So people will move to the completely decentralized exchanges and continue making use of cryptocurrencies. And the government will as well be hurting themselves, because crypto exchanges like Binance and Coinbase are huge now, so they wouldn’t like to stop big platforms like this.

TangentC

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Quote from: Gozie51 on March 13, 2021, 01:22:16 PM

I get to be thinking what about all the government of the world unite and decide to stop bitcoin and cryptocurrency ? Grin

I have wondered if this is possible to happen despite bitcoin being decentralized. Within me, I don't think that is no more possible because bitcoin is now unstoppable. Just like water is to the fish, bitcoin is the light of the earth.

What do you say yourself ?

Bitcoin can die like all things.

It is 11 year old outdated code, thinking it has magical abilities is for bitcoiner cult member not rational investors.

bittraffic

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Quote from: Obito on June 16, 2021, 05:05:03 AM

If they unite, they can do anything they want to do, they have the power over the public and they can suppress people and their freedom to an extent but the reason why it's impossible is because it's impossible to happen, not in our lifetime, we are too divided by race and class to do a unification.

Dont worry none of them will unite as one. Each is competing with each other which they find an opportunity when others fail to seize their moment. Look what is happening now that China had almost dominated the African countries, all other big countries are chasing their investments to Africa as well. The countries from the west are struggling to cope so they wanted to Unite G7 which is now NATO vs China.

There is no unification here because the other won't accept they are now not the dominant. War is even possible. BTC adopted by the other countries then it's the loss of countries that don't adopt.

Obito

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If they unite, they can do anything they want to do, they have the power over the public and they can suppress people and their freedom to an extent but the reason why it's impossible is because it's impossible to happen, not in our lifetime, we are too divided by race and class to do a unification.

Mituletr

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This kind of thing will not happen in fact. If the governments of all countries ban Bitcoin, this will show the great terror of Bitcoin, indicating that Bitcoin will shake the country's political power, and the result is that Bitcoin is deeply rooted in the people.

Magical Bitcoin

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I think there is only one way to ban bitcoin, that is to ban the Internet. Obviously, this is impossible.

Everyone has their own opinion, and for now, many people will not agree to ban bitcoin in order to make money, because bitcoin can bring them benefits.

It is possible for the government to formulate policies to supervise, but it is impossible to stop them together.

Topic: I have concluded that all governments together can't stop bitcoin - page 2. (Read 1110 times)