Topic: If the powerful governments wanted to, do you think they could stop Bitcoin? - page 18. (Read 4846 times)

Perhaps they could stop but chances are too low as we all know that bitcoins are the annynomous currency which does not allow any government to keep a track on iy. Infact bitcoins are free to move and even they could be easily exchanged with bitcoin mixer.

no, i think. very dufficult to stop or ban bitcoin. today bitcoin very prospected.

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. 

Governments together can kill bitcoin, but I believe that governments across the world will never unite and have same agendas. Powerful governments have influence just in some parts of the world, but they can't cover all the world, they can't cover their own territories because there are illegal actions done everywhere.
What I'm saying is that bitcoin can't be destroyed just like that, some governments are slowing progress of bitcoin with their restrictions and with that actions they protect banking system that works for them. In same time they stop people from using bitcoins and in that way people are financially hurted.

They can't kill it. They can deter 95% or more of users which is as good as doing so by strangling the exchanges. A Bitcoin that can't easily be exchanged suddenly becomes a lot less attractive to most people.

It would only be truly effective if all governments did it at once which is why it's an exceedingly unlikely scenario. If Belgium squashed it you'd simply nip across to the Netherlands.

Keep it from becoming even more popular and a currency used by most of the world's population? Yes.
Lower its popularity and potentially keep it to a small group of lawbreakers by making Bitcoin illegal? Yes.
Completely destroy the Bitcoin community? No.

Bitcoin is too large and too decentralized to be completely destroyed.
It can be made harder to use it, but it can't be stopped completely.

Regards,
Trump

Actually i am thinking they cannot really hold down bitcoin, or totally shut it down, its because basically they really don't know how much asset somebody has, and apso they do not have access to it. Instead they can claim it is illegal and out of the law that is why it is also too risky.

We all know this thing that bitcoin is decentralized in nature which actually means that there is no one who can actually control the bitcoin. As far as powerful governments are concerned, I really don’t think so that any government can do this thing.

Even if there is some government who can do this thing the government will not stop usage of bitcoin in their country as it is something which is helping their people a lot.

Absolutely, they can’t disappear bitcoin from this earth now. Bitcoin have made a very sensitive place in the hearts of its users. All around the world people are talking about it and then they start planning to dive into this amazing sea of profits. So, how much powerful government it would be, they can’t remove biotin unless there are no computers or internet.

Its an interesting question - but I think that any government that did this would basically be saying in no uncertain terms that they are the final arbiters of all money created.

It would mean that they are saying that you are not allowed to trade freely and that you are stuck with the currency of the country that you trade with.

If all governments said this then it would mean that they have created a monetary alliance that is stronger than Bitcoin because they could easily "outlaw" Bitcoin (using the legal system - they wouldn't be able to shut it down technically) and make their new currency legal tender.

If that were to happen then there would be no need for Bitcoin because it would mean that there would now be a borderless currency (which is one of the main value propositions of Bitcoin) and most likely the price of Bitcoin would drop.

If, however, they went about outlawing Bitcoin without providing an alternative - its likely that it wouldn't be a universal deal - there would still be countries that value the economic freedom of the individual above outlawing Bitcoin and would most likely not join the alliance - meaning Bitcoin could be mined and distributed legally there.

Maybe one day our leaders will understand that money is just a technology to help drive the economy and satisfy human needs and wants. Until then - buy Bitcoin.

No, can't stop because bitcoin is now popularized in the world. Government can regulate it or ban to their country but i think they could not kill. Many users are going to resign to their full time job to make bitcoins. The government will consider it and they realized that bitcoin has many aspect in life.

I dont think government can ban, or even regulate bitcoins for that matter. These days encryption services are so well equipped that one can secure their whole hard drive by encrypting it. Bitcoin is a open source code, thus anyone can view it, do you  think this thing wasnt in mind of the creater?

Check this article and see what Louis J. Freeh, director of the FBI has to say about encryption and its use to protect anything and everything, even the criminal activities.  https://epic.org/crypto/legislation/freeh_797.html   

I believe Bitcoin will rise or fall on its own merits.

The government can only do one thing that they can stop entering bitcoin in their region and that’s it and those who are not allowing bitcoin in their region they will suffer about this decision because bitcoin is the way toward the development and progress in region and stopping it means that they are not allowing their people to earn well and those who did so will lag in economy and they will regret,

I don’t think so that this thing will ever happen. It is because of the reason that bitcoin is decentralized in nature which makes bitcoin very much independent. There is no one who is controlling bitcoin either directly or indirectly. Moreover, the way bitcoin is making the economic condition of so many countries better, I believe government will not take such kind of step.

Well if powerful governments put time into it, i think they can. Governments can pretty much have control over whatever they want and that's right under our noses. Though i don't think tbat's going to happen with bitcoin since it's going to be beneficial for everyone in the long run

Even if the governments as a whole unite similar to the European Union it can make changes or regulations in the usage of cryptocurrency. But at any point they cannot stop bitcoin usage around the world. Even in the past, when certain countries banned bitcoin people still used it through some other way.

You just made a funny comment by saying the government can’t ban Bitcoin. Well, maybe I should let you know that they can destroy Bitcoin completely and not even talk about banning it, cause banning Bitcoin means it will just not be used in some countries. What did I say, Destroy? Yes they can destroy. They can target the bigger wallets owned by big investors and Destroy them making all go bankrupt.

They can do so by tracing it through the addresses. Ask me how? Then I will tell you to head to Google and make some research cause Google is a good friend of yours.

Governments can do a lot of harm to Bitcoin usage, if they want. For example, if they are interested then they can order the exchanges to be closed down (including Localbitcoins). They can make the possession of Bitcoins a criminal offense. It may be very difficult to trace down the coins to individuals, but with adequate effort the authorities can trace a few individuals and then they can publicize their case to scare others.

i think even the most powerful government with banks alliance will not stop bitcoin, because they cant stop the flow and influence of this bitcoin in most of people in the world that gets involve in this investment project, as we can see now, more article and blogs that against or has a negative content about bitcoin are spreading all over the net, but who cares? if all of us (bitcoin holder) continue believing and supporting bitcoin, no one can stop bitcoin even the most powerful government had a power to stop this success.

They would not be able to globally control ,ban or regulate bitcoin.Not all countries would agree to do so.Here,japan supports and adopts bitcoin and china takes stand against bitcoin and wants to stop its progress within the country.

The only thing that they could do is imply strict regulations on exchanges,asking them to strictly follow KYC and further imply rules so that exchanges itself would feel very hard to survive and close them by themselves.

But the bitter truth is that bitcoin would survive in other parts of the world and would continue to progress.