If the powerful governments wanted to, do you think they could stop Bitcoin? - page 17.

Bitcoinjheta

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Quote from: szpalata on October 30, 2017, 10:56:59 PM

Quote from: nurlela on October 30, 2017, 08:50:39 PM

of course they can, they have the full power of it.
but i think at the moment the government is not interested in outlawing bitcoin, moreover stop it
if they really want to stop bitcoin, they just need to make laws about it.

Sure they can since bitcoin relies on the internet for its existence and the governments happen to control the internet and the airwaves and so they can decide to switch it off and on any time thereby killing bitcoin and its usage as a result.

Absolutely they can stop if the government in that country wanted to do. But as whole world wanted to shutting down bitcoin thats impossible to do. Likewise there are many countries who did not support and accept bitcoin but people in that country are statisfying as bitcoin really affect in there finanacial needs.

szpalata

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Quote from: nurlela on October 30, 2017, 08:50:39 PM

of course they can, they have the full power of it.
but i think at the moment the government is not interested in outlawing bitcoin, moreover stop it
if they really want to stop bitcoin, they just need to make laws about it.

Sure they can since bitcoin relies on the internet for its existence and the governments happen to control the internet and the airwaves and so they can decide to switch it off and on any time thereby killing bitcoin and its usage as a result.

JayJuanGee

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Quote from: Avity on October 30, 2017, 09:57:43 PM

Considering governments could literally kill everyone on the face of the planet anytime they wanted too... yeah I think they could kill bitcoin if they truly wanted too. But the government is in the money business, and bitcoin has a money valuation. They have already started to make money off bitcoin in some places in the world. They have also started to reap the rewards of the underlying technology.

If the government killed bitcoin it would be the equivalent of killing the smartest kid in the class.

Your analogy does not work because your stated assumptions are too exaggerated and too outrageous.

Accordingly, Governments cannot kill every person on the planet, as you assert, so you are starting from a very flawed premise.

You need to think with more nuance if you are going to attempt to apply these kinds of sweeping analogies to bitcoin.

I think that your flawed logic in regards to governments being able to kill everyone is similar to your flawed logic in regards to how much the government could kill bitcoin, although probably, it would be easier for the government to kill bitcoin rather than killing everyone, as you assert... Roll Eyes

Avity

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Considering governments could literally kill everyone on the face of the planet anytime they wanted too... yeah I think they could kill bitcoin if they truly wanted too. But the government is in the money business, and bitcoin has a money valuation. They have already started to make money off bitcoin in some places in the world. They have also started to reap the rewards of the underlying technology.

If the government killed bitcoin it would be the equivalent of killing the smartest kid in the class.

nurlela

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of course they can, they have the full power of it.
but i think at the moment the government is not interested in outlawing bitcoin, moreover stop it
if they really want to stop bitcoin, they just need to make laws about it.

chichigirl

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HELENA

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, they can do that but need to do some rules that states about not using of bitcoin by any means and using it may result a punishment for everyone.

That may happen but as of now, let us work hard to earn more so that if that issue may happen we are all stable and can do some jobs or business that will help us earn for our needs and for the future.

terbetet

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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 yes since you have stated on the subject that they are powerful government so I think they can put bitcoin into a total shut down in any time they want. But I bet, they will not do it because even though they are powerful, still people will go on a protest against them and that will totally make a chaos since people found bitcoin to be helpful and beneficial to them so the government must not possess such kind of treatment that they will turn bitcoin into shutdown just because they just want to.

BTCevo

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Quote from: bitgolden on October 30, 2017, 10:51:44 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?

At this stage, it is very difficult for them to do. They could have tried to stop it when it was still very new and when they had the chance to buy all the coins but pretty much they would be at loss eventually.

I am sure worldwide, most governments never expected bitcoin to grow to this stage it is today and they are even more confused at what to do, knowing they do not have the control to stop it and they just have to find a way to accept it and control the activities in a way.

If you think they can't stop it then you are wrong. First thing, they have so many good resources which can help them to close it down forever or even banned it from their country so it is possible for them to stop this. Second thing if they banned it then the population will stop growing and if only all government work together, I believe it will happen to close down the mass adoption and close everything. So my answer is still possible but not a 100% chance

paul00

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Yes, I think governments can actually kill bitcoin once they had regulated it to happen. if this will occur and users of bitcoin will be oblivion, many account holders will surely stop it for it will be a lot harder to do business with it. Also, government thru the aid of media can make a bad publicity about it so more netizens will avoid to patronate it. Moreso, i think the high value of bitcoin also depends on the number of users/investors it has, and once these people started to fall, bitcoin will follow with it.

doomloop

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Quote from: cpfreeplz on October 27, 2017, 10:13:39 PM

If every country really started cracking down, sure bitcoins would be put into a choke hold VUT that's not going to happen because so many cou tries fully support it. Even if bitcoins where a japan only currency, they would still hold huge value. Keep them no matter what happens in your county.

It is up to the user that how the person use to do if the person is having the large amount and he is willing to invest it for the profit the he will be able to get the income and the money till it get high and the people who are now showing the interest will force the government not to stop the bitcoin and to let the bitcoin get more and more wide. So I think the government will not stop the bitcoin for sure.

btc-facebook

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When government said that they forbid bitcoin as main transaction, my people kinda afraid to use bitcoin thus bitcoin popularity quite difficult to increase.

Bitcoin still consider as criminal money so they have right to decide the best in order to protect their civilian from any bad things

Theb

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Of course they can the governments of any country has the power to block Bitcoin operations at their will as the have the power to ask their internet service providers to block websites and wallets that are relating to Bitcoin and other cryptocurrencies. It is a simple task but will be proven effective as it will make Bitcoin rot. If there is no internet access there will be no Bitcoin of course.

Dudeperfect

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Yes, governments can raise trouble for growing Bitcoin-friendly market environment. However, since the Bitcoin is no more a cryptocurrency/commodity limited in a single country, it is near to impossible for any government to complete evacuate Bitcoin without the collective efforts of each and every government out there. I haven't seen even a single topic on which the governments around the world unanimously agreed and acted to cooperate each other.

bitgolden

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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?

At this stage, it is very difficult for them to do. They could have tried to stop it when it was still very new and when they had the chance to buy all the coins but pretty much they would be at loss eventually.

I am sure worldwide, most governments never expected bitcoin to grow to this stage it is today and they are even more confused at what to do, knowing they do not have the control to stop it and they just have to find a way to accept it and control the activities in a way.

lordquanta

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Quote from: tee-rex on October 29, 2017, 08:27:08 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?

I don't really think they could kill Bitcoin in the way you mean it by overregulating it, though I certainly see that as a legitimate point of concern. This is what now happens in China and will likely happen in Russia too in the next few months. Bitcoin and other cryptos depend on exchanges but such exchanges like Bitfinex, which seems to get most Bitcoin trading nowadays, are registered in territories which are rather liberal in this respect. In this manner, overregulation even in the US and EU may not have the effect the governments may be looking for.

Thus the answer is, no, they won't kill it by imposing insane taxes, KYC and AML policies, or whatever alongside these.

Technically stopping bitcoin is not possible till the last country on earth is allowing it. We need to understand that bitcoin is a peer to peer crypto currency. All it needs is a blockchain which keeps the ledger of transactions. Here no central authority could decide what can be modified or done once transaction is done(block is mined). The way govt has been controlling the economy by threatening a person or company was with there ability to confiscate the cash and seize or froze the bank accounts. In other words govt could disable a person from using currency. And with help of other countries and organizations like InterPol they managed to force their action in other countries as well. Of course other countries also do the same. With bitcoin there is no such control available for govt. Thus they cannot kill it completely. However they could put curbs on bitcoin or crypto currency to the level that will demoralize people from using bitoin. Or they could even make it illegal to posses the coins. Or heavily tax the coins and companies which deals in bitocin.

tee-rex

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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 don't really think they could kill Bitcoin in the way you mean it by overregulating it, though I certainly see that as a legitimate point of concern. This is what now happens in China and will likely happen in Russia too in the next few months. Bitcoin and other cryptos depend on exchanges but such exchanges like Bitfinex, which seems to get most Bitcoin trading nowadays, are registered in territories which are rather liberal in this respect. In this manner, overregulation even in the US and EU may not have the effect the governments may be looking for.

Thus the answer is, no, they won't kill it by imposing insane taxes, KYC and AML policies, or whatever alongside these.

corroze

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I agree with you even though the government has the authority, but of course they can not stop the various transactions and activities in the bitcoin field.
But now there has been a lot of changes that occurred in some exchange services that ask for verification ID as a condition to be able to conduct transactions as a whole. And this seems to be a signal of government involvement into bitcoin

h0lybyte

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I think governments can stop bitcoin being utilized within their country by banning their local exchanges but they can't stop bitcoin being transacted over networks.
Look at china's government, they banned ICOs but couldn't stop locals from adopting bitcoin.
Bitcoin is still anonymous , that's why it can not be controlled wholly by some aspects.

DrGuns4Hands

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nope I think government can't control and stop bitcoin because it is online and over the net. which using a hash or something like that. they can't stop people on doing exchanges in btc like doing buying and selling and also it is a decentralized currency so no one can control it the only thing that can affect btc is the economy that doing exchanges.

Coffee135

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Quote from: Bit Log on October 29, 2017, 06:35:42 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?

I believe they can. Whether its that huge part of this world they can still remove it and erase it from existence. But why would they do that. If a government see a opportunity to earn money, why would they do such a thing. It will be a waste of time, money and chances, instead, I think they will invest on bitcoin if they see that it can give them a lot of earnings.

I don't see how the government can make money using bitcoins. Even if we assume that all users will just to pay taxes, many people will choose bitcoin. This means that the real economy will lose mechanisms to involve employees in the state could begin the collapse.

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