If the powerful governments wanted to, do you think they could stop Bitcoin? - page 14.

Qiuyue201

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Quote from: pitiflin on November 05, 2017, 10:19:04 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?

United they stand, divided they fall. If countries unite the possibility of bitcoin being thrown out of the society is very High, but at the end of day expecting countries to unite on a mutual common platform is impossible,that too when their opposite interest is bitcoin. They would just make some regulatory measures at the most. But the thing with regulations is that people find some way or the other to against it and keep their own interests as top most priority and will find an opportunity cost for bitcoin is no other way is found.

Just if in one day they unite against bitcoin, there's always some people who find a hole and probably using it underground. By that, the government would need to put an effort to find the underground transaction and arrest the criminals but still not going to give the government any benefits becasue basically they forbid it and will seem to be worthless in real life, instead, the government will just wasting money on their effort to find out any bitcoin users in their country.

entrepmind23

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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?

They could not completely kill it because there would always be others who would take the risk even if it is illegal in their country. However, they can slow down the growth of mass adoption because many would not want to risk to be imprisoned or be fined by using it. I, for one, would not want to do something illegal so I would just let go of it even if there is a big potential to earn significant amount because there would be other opportunities out there that would not make me be imprisoned. However, if they will just implement insane taxes instead of making it illegal and I can still profit from it then I will continue to use it.

zeragame

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If governments of different countries will make a plan to regulate bitcoin they can stop it ;/

nethan1btc

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Quote from: BossMacko on November 05, 2017, 07:11:37 PM

It is impossible for the government to have full control over Bitcoin unless they bought all 21m Bitcoin which will make holders happy and killing the Bitcoin at the same time. If i were part of the government since i cannot control Bitcoin i will just call a meeting and get votes to make the government invest in Bitcoin and find ways to integrate Bitcoin to our country. "If you can't beat them join them."

Exactly! No one has the power to control bitcoin. The government can never find ways to control because they can never stop a single miner. Maybe they can only do some regulations about it. If they really want to stop bitcoin, they could have than that before. They knew what bitcoin's capacity is and we might know, what if one of government officials is secretly into bitcoin, right?

BossMacko

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It is impossible for the government to have full control over Bitcoin unless they bought all 21m Bitcoin which will make holders happy and killing the Bitcoin at the same time. If i were part of the government since i cannot control Bitcoin i will just call a meeting and get votes to make the government invest in Bitcoin and find ways to integrate Bitcoin to our country. "If you can't beat them join them."

Yamifoud

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Quote from: Ahiaba on November 03, 2017, 02:24:56 PM

It will be difficult for the world government to ban bitcoin completely from existence because they them will be affected in the process of trying to ban bitcoin. One way I know in which the world government can ban bitcoin is by them to close the internet which I think is not impossible for such a thing to happen in this 21st century.

Actually government support towards bitcoin is also a huge factor that maybe affect bitcoins existence. But it doesn't mean that they can wipe out bitcoin at all, not even a powerful government. Considering that China is one of the powerful country, but what happen to bitcoin after leaving it will keep increasing instead of crashing. Because not only China have capable to support crypto, in fact a lot more even some poor countries as they wanted that their people to change their finacial stability.

deadthings

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Quote from: WiserCoin on November 03, 2017, 02:57:31 PM

They couldn't kill it completely, but they can prevent mass adoption by simply outlawing it. Huh

If it would be punished, it would be possible, but if it was just melted by stopping its popularization I honestly doubt it.

Kiweikoo

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Quote from: Lorna t on November 01, 2017, 01:47:17 AM

I so not think it's possible, it can be okay. And if bitcoin can not stop the government because the two may even join if, the government wanted to stop the bitcoin. It's not easy to get a bigger bitcoin because bitcoin is one of the biggest company so difficult to make the government stop the bitcoin.... If just in case....

You are right bro! They wanted to not like they did not. They were being cautious though knowing there is really nothing to stop and funny enough, the more they kept coming with the attack, the more they kept realizing it was even growing the more and becoming even more unstoppable.

I guess as far as I am concerned, we have gotten to the point of no return and we just have to wait for the days when we will reach a certain ATH and maybe there would be a pause.

pitiflin

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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?

United they stand, divided they fall. If countries unite the possibility of bitcoin being thrown out of the society is very High, but at the end of day expecting countries to unite on a mutual common platform is impossible,that too when their opposite interest is bitcoin. They would just make some regulatory measures at the most. But the thing with regulations is that people find some way or the other to against it and keep their own interests as top most priority and will find an opportunity cost for bitcoin is no other way is found.

WiserCoin

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They couldn't kill it completely, but they can prevent mass adoption by simply outlawing it. Huh

asdlolciterquit

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Quote from: etherflyerofficial on November 03, 2017, 12:08:17 PM

Even the powerest Gov't cannot stop Bitcoin! You see China banned Bitcoin since October, and now the value of Bitcoin is growing rapidly than before!

mmmm are you sure that china banned bitcoin? can you post a link? I know that they didn't do anything like that...

Ahiaba

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It will be difficult for the world government to ban bitcoin completely from existence because they them will be affected in the process of trying to ban bitcoin. One way I know in which the world government can ban bitcoin is by them to close the internet which I think is not impossible for such a thing to happen in this 21st century.

djsugar

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Governments if come together can definitely reduce the demand by banning or making cryptocurrencies illegal. But they can't completely eradicate Bitcoin or cryptos from the system. Bitcoin is not available in any physical form but is only a data which is indistinguishable. There is no way government can completely ban something on internet. It is impossible.

jak3

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I don't think government can do anything to Bitcoin (not at least indirectly though) But let's assume that they want to remove Bitcoin from the Earth, then the only thing they need to do is to somehow stop the block chain network which is impossible.

Vohoanghiep

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If desired, the government could destroy Bitcoin. However, they can not ban people from using it because all account information is untrue and they will not be able to investigate the account holder. They can only adjust Bitcoin and make it more user-friendly, since they will give up Bitcoin.

Nahl

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currently very difficult to destroy bitcoin because bitcoin users has increasing rapidlly although there are some countries attempts to banned bitcoin but they cannot prohibit their people because bitcoin is independent and there was no countries able to control bitcoin but in my point of view there is one chance if government want to destroy bitcoin they can shutting down internet connection as the prime thing for use bitcoin and if there is no internet connection bitcoin will be useless and people will stop using it but indeed impossible to shutting down internet

etherflyerofficial

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Even the powerest Gov't cannot stop Bitcoin! You see China banned Bitcoin since October, and now the value of Bitcoin is growing rapidly than before!

Paul Pogba

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The market cap coin stamp is enormous, user is global and bitcoin is decentralized so no matter how strong the government can not stop bitcoin.

PokerFace3

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Quote from: pinkflower on October 26, 2017, 09:55:02 PM

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?

Lets go back to China. With their government's absolute power over their citizens, have we seen them use a sufficient way to kill BTC? No we havent. They can claim that they will regulate it, suppress it or kill it but in practice we havent seen anything close to it. So, no. BTC, for now, cant be killed.

They tried, but they could not and they ended up coming to terms of the fact that they cannot. They are obviously trying to frustrate the efforts but at the end, it ended up sending just an empty message. These guys already know that the power is out from them and obviously why they will try to create their own crypto which no one will accept or possibly even try to push B2X on us Grin

, which we already know the truth of what is coming. They have failed and they will keep failing.

Zandar

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Powerful governments can do whatever they want to, this has always been the case so it includes killing BTC if they want to. For example they can make up new laws making having BTC illegal and criminal. Meaning they can arrest and detain you as if you were in possession of lots of hard drugs. They can pass these kind of laws under the fog of that BTC is too easily used to fund terrorism, illegal activities etc. This year alone the US justice department seized tons of BTC by seizing and closing darkweb and an exchange.
Also the banks could easily destroy BTC without any help of government at all, all they have to do is forbid any exchange of BTC into real currency. If you can't pay out your BTC into your bank account then all you are left with is the option to sell it on the street like a 5$ crack dealer.

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