If the powers that be…. | Bitcointalksearch.org

michellee

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Quote from: FortuneFollower on December 12, 2024, 06:55:02 AM

Quote from: michellee on December 12, 2024, 05:24:54 AM

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Regulations.
Alas, if the crypto is to be adopted on a larger scale - it's inevitable it's going to be regulated by those that govern everything. From people to what they use.
But it should be done in a good way - not in a way that would make crypto space as a one-way ticket, as a gov. institution.

Yes, you are right so we as a crypto user must be ready for the regulation from the government. We can hopes that the government will not apply a strict rule to us or apply a high tax for those who have crypto. It needs understanding from the government and maybe they can discuss this with the crypto user so the law will be benefit for both side.

Wish that can be like that because many government just focus on how they can take as much as money from their people.

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Quote from: michellee on December 12, 2024, 05:24:54 AM

The powers can ask their ISP to block crypto access from their connection. That will make people difficult to use crypto but they will still find other ways. People will never gives up to search for the connection to the crypto especially if they see the benefits of crypto to them.

While countries that see the benefits crypto has to them will not do that. This is because they can use crypto for their own goods so they will not do that. So it will not be easy to terminate crypto access from one country but they can regulate crypto to limit their people use it.

It would be better if the powers use their regulation to control their people rather than to block or terminate crypto. They can also benefits from that and maybe they can have a new source of income from the tax from their people who use crypto.

Regulations.
Alas, if the crypto is to be adopted on a larger scale - it's inevitable it's going to be regulated by those that govern everything. From people to what they use.
But it should be done in a good way - not in a way that would make crypto space as a one-way ticket, as a gov. institution.

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Quote from: EarnOnVictor on December 11, 2024, 09:05:23 AM

Oh, it's nice to read from another thinker, unlike those who believe Bitcoin or the people using it have that absolute power due to its decentralization. This is more reason I always thank the US government and their powerful allies for supporting Bitcoin, otherwise, it would have been long forgotten if they truly wanted it down. And I laugh at people who believe the decentralization of Bitcoin is an immunity, no, if the clampdown is total, it would be enforced legally as criminal globally and no one dares want to use Bitcoin again. Even if a few daredevils would dare use it, the value and demand would be so discouraging to be risked for.

If it's a total clap - it would be a clap towards all crypto, not only BTC, of course.
Maybe it would be done to enforce CBDC and its usage.
Only time would tell.

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The powers can ask their ISP to block crypto access from their connection. That will make people difficult to use crypto but they will still find other ways. People will never gives up to search for the connection to the crypto especially if they see the benefits of crypto to them.

While countries that see the benefits crypto has to them will not do that. This is because they can use crypto for their own goods so they will not do that. So it will not be easy to terminate crypto access from one country but they can regulate crypto to limit their people use it.

It would be better if the powers use their regulation to control their people rather than to block or terminate crypto. They can also benefits from that and maybe they can have a new source of income from the tax from their people who use crypto.

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While ISPs can try blocking Bitcoin activity, the network is somewhat resilient to such attempts. As has already been shown with satellite networks alternatives such as Blockstream Satellite, radio, and even SMS based transactions will keep Bitcoin operating without the need for traditional internet connectivity. Moreover, the complete shutdown of Bitcoin would require worldwide cooperation, which is hardly plausible. Even China, with its strict internet controls, hasn't managed to erase Bitcoin, as people use decentralized ways to get around the restrictions. Bans or limitations on Bitcoin often lead to increased usage as creative workarounds are developed. In such a case, instead of killing Bitcoin, these actions would underscore its resilience and decentralization.

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Oh, it's nice to read from another thinker, unlike those who believe Bitcoin or the people using it have that absolute power due to its decentralization. This is more reason I always thank the US government and their powerful allies for supporting Bitcoin, otherwise, it would have been long forgotten if they truly wanted it down. And I laugh at people who believe the decentralization of Bitcoin is an immunity, no, if the clampdown is total, it would be enforced legally as criminal globally and no one dares want to use Bitcoin again. Even if a few daredevils would dare use it, the value and demand would be so discouraging to be risked for.

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Quote from: bitzizzix on December 10, 2024, 04:57:05 PM

The only way to stop Bitcoin is the apocalypse or the worst that can happen is the creator sells all his bitcoins and that will cause the price of bitcoin to crash which will make everyone panic and demand and interest will decrease which will make Bitcoin considered mediocre.
I am confused to answer the OP's question because everything has been answered and also makes sense, and the most cruel thing is all the government of the country prohibit the use of Bitcoin to the extreme and if and whoever is caught using Bitcoin will be shot dead and this will scare people who most likely no one uses Bitcoin.

Hehe just kidding. Grin

I understand the importance of satoshi because he is the creator of bitcoin but I don't think people invest in bitcoin just because they believe in him. So even if he wakes up and sells his bitcoins it will cause panic in the market but I don't believe the demand for bitcoin will drop because of that. For those who have knowledge and understand how bitcoin works, everyone will know that bitcoin does not need and does not depend on anyone, including satoshi.

Many people say that governments cannot stop bitcoin, which is not wrong, but if they join hands and issue a global bitcoin ban, I don't think bitcoin can continue to exist. So for me, the government is still bitcoin's biggest challenge, not satoshi or any individual.

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Quote from: m2017 on December 10, 2024, 11:32:50 AM

Look around, how bitcoiners are happy that governments of countries have paid attention to bitcoin, are creating reserves with bitcoin, somewhere even legalizing it and, moreover, making distant financial plans. These are the 1st steps on their part to "crush" bitcoin for themselves, to accumulate and accumulate more. The next step will be a ban on use (and/or storage) and confiscation (why buy if you can take it away, right?).

Seriously, I don’t get your point here. Why would the government make Bitcoin a national reserve, accumulate it, and then ban its use? Maybe you think banning its use would stop circulation, but you’re overlooking a key fact, Bitcoin’s price would drop significantly if no one is using it.

Adoption happens when people use Bitcoin for daily transactions, which is its main purpose. Investment is only secondary. Without active use, Bitcoin’s value and purpose would diminish greatly.

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Quote from: ukaddict on December 08, 2024, 10:34:35 AM

If the powers that be wished to execute Bitcoin off the face of the earth, they effectively could but it got me thinking that this would elevate it to another level of power.

In theory I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin and then subsequently this would take it offline.

Unless the satellites were to be rocketed up by Tom dick and Harry or however they make the internet possible? Does this make sense?

This is based on if, Bitcoin Blockchain isn't related to any countries internet provider, it is not built like that so whatever you might be thinking is your own mind playing tricks on you because it is never going to happen.

No one can take Bitcoin offline, you can only shut down your country's internet so that your citizens won't be able to transact with Bitcoin, mind you doing so will affect you as well, because no one will be able to access the internet at all, don't forget that those who have bitcoin in your country will still have access offline, why? Because the Bitcoin they own is still sitting in their various wallets.

The moment they decide to leave the country they can start moving their Bitcoin around, so what is your gain? Why even think about this in the first place? You want Bitcoin gone or what?

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Quote from: ukaddict on December 08, 2024, 10:34:35 AM

If the powers that be wished to execute Bitcoin off the face of the earth, they effectively could but it got me thinking that this would elevate it to another level of power.

In theory I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin and then subsequently this would take it offline.

Unless the satellites were to be rocketed up by Tom dick and Harry or however they make the internet possible? Does this make sense?

"The powers that be" might actually be pro-crypto. Grin

Why destroy Bitcoin, when you could invest in it, pump it to the moon, sell it for an absurd price and take the profits. Grin

I don't get your point. How could destroying Bitcoin "elevate it to another level of power". This doesn't make any sense.
Yes, the Internet Service Providers could potentially ban everything related to crypto, but VPNs and the Tor Browser exist for a reason.
Also I'm pretty sure that not all Internet Service Providers around the world would agree to ban crypto. Some offshore ISPs would refuse to impose such crypto ban. If it was so easy to ban illegal content online the darkweb would never exist.

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Quote from: _act_ on December 10, 2024, 03:23:10 AM

It is not easy as you think. If a country bans Tor, there are many companies that are offering Tor, including Tor from The Tor Project which I think is the first company that offer such service. If a country ban it, the people in the country can continue to use it. If the sites that people can download the Tor from are blocked, VPN can be used to access it and be down downloaded. Tor connects not to just central servers but nodes in different countries. Many of the nodes are masked with Tor.

You are right; I am not an expert who can argue on equal terms. However, the recent government order in Russia also banned many VPN providers, which caused an extremely inconvenient situation for many users, at least for access to this forum. Speaking about a complete ban, I certainly do not see it in the framework of the world, but the fact that one country will be able to do this is probably acceptable.

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The only way to stop Bitcoin is the apocalypse or the worst that can happen is the creator sells all his bitcoins and that will cause the price of bitcoin to crash which will make everyone panic and demand and interest will decrease which will make Bitcoin considered mediocre.
I am confused to answer the OP's question because everything has been answered and also makes sense, and the most cruel thing is all the government of the country prohibit the use of Bitcoin to the extreme and if and whoever is caught using Bitcoin will be shot dead and this will scare people who most likely no one uses Bitcoin.

Hehe just kidding. Grin

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Quote from: ukaddict on December 08, 2024, 10:34:35 AM

In theory, I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin, and then subsequently, this would take it offline.

Your imagination is way out of content since Internet users are not the one controlling the nodes that executes Bitcoin transactions on the blockchain, miners do, and those miners can never back out of Bitcoin mining since it is highly lucrative and capital-intensive to run a mining firm.

Quote

I like your imagination, but that’s not necessary. If you want to see Bitcoin die in the future, regulation is the key. If governments worldwide declare Bitcoin illegal and enforce severe penalties, such as serious jail time for anyone caught using it in any way, people will stop using Bitcoin.

Government around the world will possibly lack the capacity to bring to total halt bitcoin usage because of bitcoin decentralised nature and aside from that, it is impossible to see any government handing out a total banned on bitcoin since bitcoin is receiving alot of positive feedback and support from tip government around the world.

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Quote from: South Park on December 10, 2024, 03:32:52 PM

Many governments all over the world tried banning bitcoin for years and it did not work, so even if you could get all governments around the world to agree on banning bitcoin and enforcing that ban, there will still be many people interested on it, even if this meant civil disobedience on their part, while many current holders could just use their favorite tactic, to wait and hold, until the legal climate changed and then keep using their coins as always.

The idea of banning the bitcoin at the global market is mostly an idea sold by the west and in the western world, America is always at the forefront. But now that America has gotten a new government which will be led by Donald Trump, I think the idea of banning the bitcoin will crumble even more because the bitcoin market will definitely see a favour in the hands of the new Trump-led administration allowing more positioning for the bitcoin in the global world.

I pray that the many people around the world will have to embrace bitcoin at this time because it will only thrive the more.

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Quote from: freedomgo on December 08, 2024, 10:38:15 AM

Quote from: ukaddict on December 08, 2024, 10:34:35 AM

In theory I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin and then subsequently this would take it offline.

I like your imagination, but that’s not necessary. If you want to see Bitcoin die in the future, regulation is the key. If governments worldwide declare Bitcoin illegal and enforce severe penalties, such as serious jail time for anyone caught using it in any way, people will stop using Bitcoin.

Many governments all over the world tried banning bitcoin for years and it did not work, so even if you could get all governments around the world to agree on banning bitcoin and enforcing that ban, there will still be many people interested on it, even if this meant civil disobedience on their part, while many current holders could just use their favorite tactic, to wait and hold, until the legal climate changed and then keep using their coins as always.

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Quote from: Churchillvv on December 08, 2024, 01:08:27 PM

I think we've past the stage of thinking the possibility of bitcoin getting entirely shutdown as those who are to work with the internet providers to bring bitcoin down are becoming more bitcoin friendly.

Perhaps it's almost impossible to have bitcoin shutdown entirely even if their is a uniform regulation.

The thing is that even the regulation will be hard because most of the government officials are also using bitcoin in one way or another. Many of them are holding millions of USDT worth of bitcoin, so why do some people still think that bitcoin will shut down? I think this is something that will be hard to happen; bitcoin has gone farther than how we are thinking. Many people have invested in it, and those people are also among people that are well known worldwide.

However, there is no way they will shut down the internet. Because many things are going on through the internet, even the government is interested in running some of their stuff, especially their businesses, so if they are talking about shutting down the internet, it will also affect them.

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Quote from: freedomgo on December 08, 2024, 10:38:15 AM

Quote from: ukaddict on December 08, 2024, 10:34:35 AM

In theory I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin and then subsequently this would take it offline.

I like your imagination, but that’s not necessary. If you want to see Bitcoin die in the future, regulation is the key. If governments worldwide declare Bitcoin illegal and enforce severe penalties, such as serious jail time for anyone caught using it in any way, people will stop using Bitcoin.

Look around, how bitcoiners are happy that governments of countries have paid attention to bitcoin, are creating reserves with bitcoin, somewhere even legalizing it and, moreover, making distant financial plans. These are the 1st steps on their part to "crush" bitcoin for themselves, to accumulate and accumulate more. The next step will be a ban on use (and/or storage) and confiscation (why buy if you can take it away, right?).

In general, it is strange to observe when bitcoin was born as an alternative to the traditional monetary system, but over time begins to be absorbed/mixed with this very system, "against" which it was created. And it is no less strange when people call bitcoin "financial freedom", but are impatiently waiting for integration by countries, governments, central banks, which has little to do with freedom.

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Quote from: ukaddict on December 08, 2024, 10:34:35 AM

If the powers that be wished to execute Bitcoin off the face of the earth, they effectively could but it got me thinking that this would elevate it to another level of power.

In theory I’m thinking that all internet providers could effectively terminate anyone running or executing code relating to Bitcoin and then subsequently this would take it offline.

Unless the satellites were to be rocketed up by Tom dick and Harry or however they make the internet possible? Does this make sense?

Most of the network on earth among countries is interconnected via cables. So for one if all those satellites goes down the network would still be functioning, and if all the countries stand as one power to shut down the internet then they can easily, but that won't mean they will be executing Bitcoin off the face of the earth.

They just can't restrict the use of the Internet like North Korea, I mean if they will new chaos will occur people are living on the internet haha they won't care for their BTC or money they need the internet it has become an addiction, even I don't feel like living when I don't have internet.

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Quote from: _act_ on December 08, 2024, 10:44:57 AM

Which is not possible as more people are liking bitcoin. These people included leaders, regulators and everyone. Bitcoin is designed in a way that more people will like it.

Of course, but I was just going along with OP’s imagination about the only possible way Bitcoin could "die", not literally, but in a way where it would never be the same again. It’s like going back to square one.

Quote from: Ambatman on December 08, 2024, 11:00:02 AM

This is purely theoretical
While some might see it as a threat others might see it as an opportunity
So getting a unanimous decision to ban Bitcoin is highly unlikely especially with its popularity Now.

But this scenario is more likely compared to OP’s fear of the entire internet uniting to ban Bitcoin... Tongue

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Quote from: DudeAtWork420 on December 09, 2024, 07:38:10 AM

It would be near impossible to eliminate or fully regulate bitcoin. The government themselves knows that and if anything happens, they would regret their actions as the revolt would be massive for a country that is digitally inclined and are fully into bitcoin. The peoples power would come into play and nothing can stop them. I have come to realize something that the masses could be calm and obedient to the laws but can not be oppressed forever as they would definitely revolt or protest to communicate or show their grievances.

I don't see people revolting for BTC.
It's not that adopted for something like that to happen.
Yet.

Topic: If the powers that be…. (Read 488 times)