If the powerful governments wanted to, do you think they could stop Bitcoin? - page 22.

Theo222

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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 can stop some country but not all country because they want to increase the economy of bitcoin to some country and bitcoin can lessen the number of unemployed when the didnt stop bitcoin.

1NV3ST0NM3

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Quote from: lighpulsar07 on October 26, 2017, 10:55:16 PM

no. let take a look in china's case they imposed banning bitcoin exchanges in their country as well as ICOs we all know that china has a large influence in bitcoin when the ban is issued bitcoin crashed to the ground from 4000 to 2900 although it made a huge impact on bitcoin but since many countries are adapting to bitcoin the price recovers and it made rise even higher so, therefore as long as the is a country supporting bitcoin, powerful countries like china can't stop bitcoin alone.

But the question remains if all the major governments like US, China, Russia, UK, India, Japan form a cartel together to ban bitcoin. I really doubt bitcoin would have any demand. No ordinary citizen would like to buy somethin illegal. Some argue that darkweb would still use it. Yes they may but the demand for the currency would susbtantially decrease ultimately decreasing its value.

mriansa

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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 state governments can not completely sabotage bitcoin, bitcoin will always be in a row, if any country is sabotaging bitcoin maybe its country does not want to be a developed and developing country because now is the age of its digital currency and saves the production of paper money.

lighpulsar07

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no. let take a look in china's case they imposed banning bitcoin exchanges in their country as well as ICOs we all know that china has a large influence in bitcoin when the ban is issued bitcoin crashed to the ground from 4000 to 2900 although it made a huge impact on bitcoin but since many countries are adapting to bitcoin the price recovers and it made rise even higher so, therefore as long as the is a country supporting bitcoin, powerful countries like china can't stop bitcoin alone.

portotoi

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Yes maybe...

But Bitcoin gives hope to unfortunate people, those who losses their jobs, and who are not enough qualifications for government or private employment. As we can see, many people's lives changes to a more successful one because of this bitcoin. If this thing the government will consider and will realize the good side brought by bitcoin, then why should the government cut the opportunity for the success of the community and country?

Opquar

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Well, we saw how China was able to really make a dent on bitcoin's value. If every country does this, very few will continue to use bitcoins, essentially stopping it. One country cannot do it itself.

pinkflower

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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?

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.

TagaMungkahi

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They could kill bitcoin. In Illegal Way but it will take longer since they should kill all the nodes, if one of the servers have been affected it will alert other servers and also the bitcoin community that something bad is happening. They could also buy the 21 Million BTC on the highest price they could and just hold it forever ( but then again it will take longer ). And I don't even think they will do it , they can gain something from Bitcoin and Cryptocurrency Field Why Stop or kill it. Think about that.

ALT67890

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We can sense that the government and banking officials is now on offensive by painting cryptocurrency as a fraud/scam. But they can’t or investors never trust them because we all know about they’re own interest and profits that’s why they’re doing such move on bitcoin. With the help of internet and social media they can’t manage to stop it and that’s the truth.

hatshepsut93

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They couldn't kill it completely, but they can prevent mass adoption by simply outlawing it. Most people wouldn't risk getting fined or imprisoned just to use an alternative payment system, so Bitcoin community wouldn't be able to grow to any significant size. And the second problem is mining - right now it's relatively centralized and draws huge amounts of electricity - together it makes it easy to shut it down. Without mining Bitcoin's price can't freely grow, because mining protects the network from double-spending attacks, so when hashrate is low the network becomes less secure, meaning it's cheaper to attack it, so it can't sustain above certain amounts of value.

ralle14

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They could try by making their own version of bitcoin but it won't be enough to stop bitcoin. One way of killing bitcoin is to cut the internet access of everyone so there would be no transactions being made every second but that's unlikely to happen.

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.

On a serious note, no, I feel that it is difficult for them to do so. Even if countries like China tries to ban Bitcoin in their own country, they cant exactly do so to the whole world, and there will always be a use for Bitcoin somewhere else.

Buying all bitcoin would make the price very expensive and this can't be possible since some of the coins are already burned and some can't be moved like the 50 btc mined from the genesis block.

Beerwizzard

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They won't be able to 100% stop it. As you see we already should pass a lot of steps of verification on all exchanges to exchange our bitcoins to fiat money and thats where the governments will probably strike ( and that will hurt). In other way we still gona be able to use it like we use cash (but I don't think that any store will accept btc so you will only deal with other people).

EXtremeAEX

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

On a serious note, no, I feel that it is difficult for them to do so. Even if countries like China tries to ban Bitcoin in their own country, they cant exactly do so to the whole world, and there will always be a use for Bitcoin somewhere else.

Bitcoin is still gaining popularity, and its community is growing, so unless all the governments team up and say NO to BTC, it would not happen (I hope).
Citizens > Government, and we need to believe this as well.

squatz1

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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?

Topic: If the powerful governments wanted to, do you think they could stop Bitcoin? - page 22. (Read 4852 times)