If the powerful governments wanted to, do you think they could stop Bitcoin? - page 12.

Kevin77

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Quote from: Sallysakky on November 03, 2017, 02:00:40 AM

They could stop, restrict exchange on fiat money and money withdrawal, so everyone would sit with Bitcoins.

Have you forgotten that even before exchanges, people were still making use of bitcoin as payment means at some point with P2P transactions.

They can restrict exchanges but that would eventually be to their own detriments and you cannot just restrict exchanges without at least a reasonable conclusion why you should and you will definitely have a policy in place for any exchange that wants to go on with their daily activities.

Attack on bitcoin is like attack on the users which they are suppose to serve and represent, they would not want to do that and even if they could, it is too late already .

el kaka22

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Quote from: Krillin61 on November 03, 2017, 01:43:28 AM

Quote from: squatz1 on October 26, 2017, 08:30:27 PM

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

Well in my opinion, they could not stop the bitcoin. Even though we know what is the capabilities of governmnet still it will be tough for them to stop it. And even now they can't still found out who is this satoshi nakamoto who is the creator of bitcoin. They can compete with it by just making of their own bitcoin but they cannot replace it.

If they had been able to find Satoshi Nakomotto, you think they won't have threatened the man to give up his mission or probably even if it is a group. The man or group was already smart to know that. Bitcoin won't be bitcoin today without the strength of its supporters and the community right from the onset.

As people kept believing in it, more people keep coming in and that keeps making it stronger than anyone could imagine even to the surprise of the governments who used so many means to call it names and formed so many attacks so that people can give up, but that is where the strength of bitcoin comes in, cause we the users are in control, not the government.

dynospytan

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Quote from: squatz1 on October 26, 2017, 08:30:27 PM

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

Government cannot do nothing about bitcoin. Bitcoin is decentralized and no one can stop it aside from internet. Internet is the heart of bitcoin, without this bitcoin is useless. But, we also know that no one owns internet and even government can't stop it. They might shutdown in but they cannot do it worldwide because we are now in modern world and internet is the first part of it.

Agamemnus

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I would hate to live in your world where you think governments are powerful. They have absolutely zero power in reality, but virtually people believe they do because of FIAT money. FIAT money has been taking power from the people and giving it to TPTB. No longer will they have power though because people are converting their worthless FIAT into BTC and that is taking power away from them.

Ewinsane

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Quote from: webelong on November 06, 2017, 09:11:58 AM

Maybe they can stop bitcoin.But they cannot really in a way diminish it for a very long time.And there are some things that a government should do instead of ruining bitcoin.

They can only do one thing that they can stop bitcoin usage in their region and nothing else and this is the best thing about bitcoin that it cannot be stopped by any specific region the recent example is china they banned bitcoin price goes down a bit and then clicked back, bitcoin nature is unstoppable and this thing attract people toward it and the most stupid government can try this to stop bitcoin in short stop progress.

kyanscadiel

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Quote from: squatz1 on October 26, 2017, 08:30:27 PM

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

i think it is impossible for the government to completely stop Bitcoin. Maybe they can do something to stop the adaption by strictly regulating a law to ban using of bitcoins in their respective country which some countries has already did ban the usage of Bitcoin. But to completely stop or shutting down Bitcoin is merely impossible because government economics also receives benifits from it and as well as the people because Bitcoin make their lives a li'l more easy because there are things or transactions that can be done online with bitcoins. Shutting down or stopping Bitcoin will have an effect with on the market and businesses like tradings, mining and with the government economics as well.

francedeni

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Quote from: ?? on ??

I don't think at all that a group of powerful governments can kill bitcoin, because if they could they would have already done it. You have also to note that most governments don't act as a single country and are already members of huge and powerful institutions like the IWF.

If a government will start to regulate bitcoin into oblivion then its citizens will buy from countries abroad and that government will lose tax revenue streams and that doesn't make much sense!

Yes exactly, if government would kill bitcoin it should be way back since. Government cant kill bitcoin because of many people have bee supported bitcoin and the demand is growingZ . There are a lot of things to be done before it will happen.'

pia19

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They can try but I think, it will be very difficult to totally stop the use, production, buying, and selling of bitcoin. The bitcoin community is continuously growing so the difficulty to stop it is increasing everyday. They might link bitcoin to illegal practice like money laundering to level it as scam or fraud but it will not stop it. They might ban the use of it on their own country but other will continue to use it.

Omega Weapon

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Quote from: supandi wiharja on November 02, 2017, 03:55:07 AM

I think the government will not be able to stop bitcoin, no matter how powerful the government is.
Because of the most powerful way to get rid of bitcoin, just by shutting down all the internet networks in the world, I'm sure, bitcoin will disappear and no longer be used in this world. And i think it's very unlikely, because everyone in the world is very dependent on the internet. So in conclusion, bitcoin will always exist as long as the internet network exists in the world.

Not only that but in the world of crypto there is a project like shift that is a decentralized internet so it may be possible that in the future the governments of the world are not going to have even that option since we could move to a decentralized internet, so cryptocurrencies are taking power away from the government not only in terms of currencies but in all aspects of society.

Valzzz005

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Quote from: squatz1 on October 26, 2017, 08:30:27 PM

This is something which I've beleived for awhile, which is the prospect that if big governments and banks worked heavily together they'd be able to remove Bitcoin from the face of the earth. They wouldn't ban it, as that would be a tough thing to swallow for the American people as they wouldn't see a good reason to do that ( at least in my mind here) But they could just go ahead and regulate Bitcoin into oblivion, making it hard for Bitcoin businesses (buying and selling, trading, etc) to operate within their countries, or be subject to insane taxes, KYC AML and such.

Do you think Governments could kill Bitcoin?

Yes absolutely the can, if they wanted to, but they won't never do that because bitcoins is now a big thing in the world and a lot of big names of peoples are in to this. Even if bitcoins has a dark side so as the government so if they even want to stop it chaos will probably come because they will never let the government lill it that easily. Besides government are also benefiting in this by the economic growth and to be globally competent. And if ever that a government wants to stop it all they can do is to ban it. But we all know that they can never ban the internet so there will always be a loop hole through everything.

Aura

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They can stop a lot of the trading, by shutting down exchanges.
But really stopping it is impossible, else they have to shut down the internet.
Also if they would find out how to securely filter Bitcoin transactions and ISP would implement it, it will be a cat and mice game that Bitcoin will win.

shield132

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If goverment wanted, they would do it earlier because it was easy at first, now serious people have invested money in it and looking so much profit in it, it won't be so easy to stop not only bitcoin but whole crypto world. They don't want it and I can say they even need it. Wait, don't you know that most illegal activist is whole goverment? Full of dark jobs, but they claim they are really legal and innocence <- good jokes from their side and however many people believes it. So they can but won't stop it.

dmamigo

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Quote from: LordDisick on November 06, 2017, 02:30:21 PM

The government can ban the use of bitcoin but they cannot eliminate it completely in my own opinion. Bitcoin can only be accessed with the use of internet so the government cannot eliminate internet on their country right? Maybe some can make a tool to detect bitcoin on internet but I still believe it wont happen anytime

Exactly, the government can stop usage or restrict by banning it from their respective country, but completely stopping it is in no ones hand. Intelligent countries won't even do that. Maximum they can impose restrictions is usage, but banning would be stupid act.

But as you said, government cannot eliminate internet, absolutely yes, but they can eliminate access to the wallets to any kind of websites related to Bitcoin, so yes from one country by its government its possible enough, but there will always be a way to bypass and still use it.

Monnt

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Quote from: Rajamuda on November 03, 2017, 01:28:37 AM

Quote from: squatz1 on October 26, 2017, 08:30:27 PM

Do you think Governments could kill Bitcoin?

Indeed, sometimes I also thinking about that, if the governments and big banks around the world cooperate, they certainly could kill of bitcoin from the face of the earth. But honestly, I personally can't be sure it will be happened or not, in my opinion the likelihood of occurr is still small, because bitcoin still really gives many benefits and advantages for many people to boost finances, overcome financial problems,etc and certainly from so many governments + all big banks in all countries will not easily decide to kill bitcoin, well certainly still consider many things.

All the government around the world could not even cooperate to do little things, you think it is a currency that has gone massive that they would now come together to attack. Think about it, that is like attacking the masses altogether, that is like stopping them from doing whatever they wish to do.

Governments have a limit and the only thing they can ever do at this stage is to regulate it, because trying to stop something that does not wish to stop and the community is growing stronger, is just like looking for trouble, which may even cause revolution.

LordDisick

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The government can ban the use of bitcoin but they cannot eliminate it completely in my own opinion. Bitcoin can only be accessed with the use of internet so the government cannot eliminate internet on their country right? Maybe some can make a tool to detect bitcoin on internet but I still believe it wont happen anytime

yoseph

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Oh yeah they could indeed stop bitcoins if they so chose to do so but considering the benefits they are getting from bitcoins I doubt they even consider doing it except only even they faced with a security concerns only then will they ban it.

KingdomHearts

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Quote from: kaya11 on November 01, 2017, 07:24:06 AM

No mate. Most of the government are in Federal and democratic state. The people holds the power not he leaders. China is different, the people wont be able to do nothing when prime ministers adresses to ban the BTC. But as we see nand experience, bitcoin adopters counts are vast day by day. So bitcoin can never be stopped.

That is just where it gets interesting. We all have the right to use whatever we please. I can decide to pay you with my new pair of sneakers if you accept isn't it? That is just the way it is! Worst government could do would be to ban exchanges in the country, but would that stop anyone from exchanging what they have if they deem it fit as a better form of exchange ? No!

We are always suppose to be in power and then we voted these guys and they turned us to slaves. Now, we are taking that power back and it is the strength of the community and that fact that has made bitcoin to be what it is today.

coinplus

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Quote from: barmutinikita on November 03, 2017, 01:51:01 AM

It's not reasonably for government of one country. And it's very hard to imagine that greedy governments or banks unite in one community. Even if it may occur it will be too late i think Lips sealed

You know they could have thought about it at some point but they also know that would be sending the wrong messages. We are talking about something that has grown so wide globally here and even if a particular country is trying to stop it by forming some underneath attacks like China tried doing, there would still always be support from other angles ready to gulp it back up.

That is the joy of it and that is why we should know that unless they can have access to the wallets of every users, or have the ability to control bitcoin itself, bitcoin will not be stopped and we already know they can't do all that.

rainezerr401

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Obviously yes, Bitcoins can really be stopped by governments still they are ones who lead the country, Its not impossible for other country that ico's will be banned like what happened in china.

mOgliE

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Quote from: EXtremeAEX on October 26, 2017, 08:48:17 PM

Well, they can buy down 21 million BTC and keep all of them to themselves, essentially 'killing' Bitcoin.

I would love that SO MUCH
Fact is that if they tried ( I mean at current price 21 million BTC is just 100billions, that's a budget tons of states could afford) they could probably buy... I don't know but 10 millions? Something like that? If they tried to hold it btc would instantly take +500% value!

To be honest that could be a smart move from a state... Getting a bunch of btc would be both a security for future and a rather good investment if they want to go back to fiat.

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