Topic: If strong countries in the world decide to stop this market. Can they do it? - page 3. (Read 558 times)
November 05, 2017, 09:17:16 AM
The only thing they can do is to hinder the exchanges in their own country which won't really hurt btc at all. Simply because they cannot influence everyone and there will always be other countries who will support btc and the whole cryptocurrency world. They cannot stop bitcoin as well as the people who are patronizing it. Seeing its potential, people will not just dump their coins just because of some petty power play pulled out by group of people who are afraid to lose a lot from income taxes.
November 05, 2017, 08:55:44 AM
One guy at work seems to think that the US government can shut down Bitcoin with the push of a button. Every time he says that I explain to him that that is impossible because the network is distributed. They would have to shut down most or all of the nodes to cripple the network even just temporarily. I don't really think that the government has a move here other than to get on board with it.
I figure the only way they could discourage people from using Bitcoin would be to use the IRS to go after people for not paying taxes on gains.
I figure the only way they could discourage people from using Bitcoin would be to use the IRS to go after people for not paying taxes on gains.
November 05, 2017, 08:55:11 AM
I think there is a way, to align the use of bitcoin and crypto currency to fraud. And then, at the first opportunity, people will be imprisoned, after 10-50 cases, no one will be particularly engaged in this. Even on the Internet anonymity is under threat and to calculate who, what and when sold has the opportunity.
November 05, 2017, 08:52:35 AM
Do you mean like they have stopped North Korea from becoming a nuclear power? like enslaving Iranians and then moving in to the country to jump hot Persian girls? powerful countries are not allies, when something could potentially weaken one of them the other ones would support it.
Crypto currencies are decentralized, a country has infrastructures, another country could attack those infrastructures to cause the most damages, crypto infrastructure is a full node, if you could find a way to bring down all of the full nodes you could stop the network, otherwise no.
Satoshi disabled the jump function for Bitcoin, that means no body could jump us like we jump the rest of the world. full stop lol.
Crypto currencies are decentralized, a country has infrastructures, another country could attack those infrastructures to cause the most damages, crypto infrastructure is a full node, if you could find a way to bring down all of the full nodes you could stop the network, otherwise no.
Satoshi disabled the jump function for Bitcoin, that means no body could jump us like we jump the rest of the world. full stop lol.
November 05, 2017, 08:43:41 AM
This is the beautiful thing about Bitcoin. When you buy bitcoins you are taking away from the power of the centralized banking system which is what our current financial system revolves around. Bitcoin's system is decentralized which means nobody owns it or controls it, thus leaving room for innovation and adoption worldwide. It is unstoppable and this is why we don't see them really trying to stop it, because they don't want to make a public mistake and look bad.
November 05, 2017, 08:36:08 AM
There is no doubt that government will seek to regulate this space quite heavily in the future. Concerns around money laundering are paramount. Basically governments want to know as much as possible about the flow of funds to 'keep us safe'. They will use this scare tactic to push through legislation that pushes BTC underground. It is difficult to see how a BTC type product ever becomes mainstream, especially considering how unattractive it is as a method of transaction (costly and slow)
November 05, 2017, 08:33:13 AM
the market yes.
bitcoin not a chance.
bitcoin trading no.
and by market i mean the centralized exchanges which should really be stopped and replaced with the decentralized versions of themselves anyways. and that is what any country can stop.
but bitcoin is a decentralized currency and as long as there are peers on the network sustaining it, bitcoin will live on. it can even be traded in a decentralized manner.
bitcoin not a chance.
bitcoin trading no.
and by market i mean the centralized exchanges which should really be stopped and replaced with the decentralized versions of themselves anyways. and that is what any country can stop.
but bitcoin is a decentralized currency and as long as there are peers on the network sustaining it, bitcoin will live on. it can even be traded in a decentralized manner.
November 05, 2017, 08:27:20 AM
If strong countries in the world decide to stop this market. Can they do it?
I understand the power of blockchain, but i really wonder if there is a way for REALLY strong countries to stop this market and also stop the people from trading/using it.
what do you think?
I understand the power of blockchain, but i really wonder if there is a way for REALLY strong countries to stop this market and also stop the people from trading/using it.
what do you think?
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