Actually the government can do it anytime, but of course they have special analysis and consideration so the government let bitcoin. if one day there is a special regulation about bitcoin, of course, aimed at protecting the regular currency.
I don't think governments can eradicate the usage of bitcoin, because in the past when certain countries banned bitcoin the users still had accessibility to the usage of bitcoin. I don't think that governments will focus much on banning rather than using it for effective functioning same as that used by Russia.
Topic: Maybe governments can stop bitcoin after all - page 16. (Read 11335 times)
If I ask you seem to have a hard time getting the government to stop the bitcoins. Especially now it's a solid one. And many people remain faithful to it. And the only possible thing to do to get it totally illegal is if it's something wrong do. We can do the example is the Fall of the banks. And if this happens they'll probably stop. But it still can not be terminated.
I think its not our fault why the banks will fall because of cryptocurrencies or bitcoin. They have held our money long enough and pushed us to the edge. I can't even call my money mine because it's their possession. The very paper and layers of it are all government property. And they are just afraid because these "crypto will replaced them". And yes they have the power to ban it and exterminate it but this is clear, the system is twisted and unfair. We are being patience long enough, let's pushed this technology together and see be a one decentralized system.
I do not think all countries will ban bitcoin, maybe just a few countries are banning using bitcoins, like china. i like little in indonesia in all countries all over the world
If bitcoin will be traded only on the exchange or exchange we will always be under attack by the government. Only in the case if you will be able to use bitcoins as a currency regardless of the wishes of the government, we will have prospects.
That will possible to happen of bitcoin will really be a currency for the whole world, and since this is a decentralized currency; Government cannot intervene the current trading ground of digital currency. Just like what had happened with china now, people aren't satisfied with government's currency earnings through regular jobs. That's why Chinese traders didn't lose their investments with digital currency and still trading their coins to the cryto currency markets.
China did banned ICO and is closing exchanges because looks like those were working without a proper license, soo its possible a regulamentation is already being worked out to handle crypto. We all know that big miners are located at China, if they ban we will see those companies mooving their hash into a more friendly country, who know Japan wont get those miners there, bitcoin miners were helping the China economy since they need to pay the energy unless they had invested into green energy and even that way they would be supporting their economy.
No one were expecting the China to act the way it had, but if we think a bit we will understand that ilegal money were using ICO to clean their money, soo they need to act before those ilegal money colapse the economy.
No one were expecting the China to act the way it had, but if we think a bit we will understand that ilegal money were using ICO to clean their money, soo they need to act before those ilegal money colapse the economy.
If bitcoin will be traded only on the exchange or exchange we will always be under attack by the government. Only in the case if you will be able to use bitcoins as a currency regardless of the wishes of the government, we will have prospects.
For now the easiest way to control bitcoin is through exchanges. They totally deanonymizes users. So, for now it is the weakest point of bitcoin.
As soon we will pass scaling problems anonymizing solutions will be implemented.
In Japan and Korea bitcoin is officially recognized, other countries planning to do their own cryptocurrencies. So, even some countries will ban bitcoin it will not have huge influence. Price does not matter at all, bitcoin became bitcoin only because of it unique properties. If you are considering bitcoins success through it price you are wrong. Market is very thin and it is relatively easy to dump or pump. What matters - decentralized properties, independence, security, immutability.
Forget about price, about governments and other bullshit, follow it development and properties that is what tell you what to do with it.
I agree. Not only price is the basis of bitcoin's success. It price changes constantly every single time passes by. If you only consider price as the reference of success, then every fall of it is a failure, and it really matters because it always recover. And also, we must not waste our time on this negativity, instead we must focus on the bright side, just considering the negative side. Still, there are some thing that must be considered. As soon we will pass scaling problems anonymizing solutions will be implemented.
In Japan and Korea bitcoin is officially recognized, other countries planning to do their own cryptocurrencies. So, even some countries will ban bitcoin it will not have huge influence. Price does not matter at all, bitcoin became bitcoin only because of it unique properties. If you are considering bitcoins success through it price you are wrong. Market is very thin and it is relatively easy to dump or pump. What matters - decentralized properties, independence, security, immutability.
Forget about price, about governments and other bullshit, follow it development and properties that is what tell you what to do with it.
I think they can not stop the bitcoin here in the Philippines because so many Filipinos are using it and that's something else they hope instead of stopping the bitcoin why they do not just support so that they can even help our country and even as well as its users to improve the livelihoods of our Filipino citizens ...
This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
It is possible and we must be ready for this, no matter what we do if all of the government agencies like SEC and the alliance of governments will ban Bitcoin then we have no choice but to move on. Bitcoin can still be used again but on the under the table trasactions. I don't know how people.But in my opinion it is unlikely to happen because it is the most trusted desentralized network and the most stand alone banks. It would be obvious if the government ( banned something without proper explanation) that they are just afraid of losing control of money.
Governments doesn't have the ability to stop the bitcoin completely due to the fact that it functions independent as well doesn't come under an authority which holds the control of the entire system. Also governments have difference in thinking, based on which few support it and few has banned its usage.
Government can't ban Bitcoin completely because people will always find some ways to do transactions through bitcoin. But if Bitcoin is termed illegal then it could quite difficult because then it cannot be converted into local currencies, hence no use for the citizens of that countries. Then if they want to use their stored their Bitcoin the only possible way I can see is that shifting to a country where it is legal and then converting into Local currency
Cryptocurrencies are decentralized products traded largely on centralized exchanges. Cryptocurrency proponents note that an advantage of cryptocurrencies like bitcoin and litecoin is that reliance on or trust in a third party is not required to transact. Centralized exchanges, however, themselves may make it hard to open an account or may place restrictions or ban the withdrawing of funds or cryptos. Centralized exchanges can also be be hacked or closed by governments. Thus, centralized exchanges may run counter to one of the advantages of transacting in cryptocurrencies
The government can only limit the users of its citizens but in general can not limit the bitcoin because everyone when there is internet access can use bitcoin. I think bitcoin is a good thing but why government banned bitcoin?
What we can see today is increasingly invasive approach of the governments worldwide into the daily lives of it's citizens. I'm not too optimistic about the approach of the most of the governments. Big money has a lot of influence on that level and if it starts to see the bitcoin as a serious threat, we will see much more official involvement against the bitcoin. If it can influence it and to what extent is however a completely different topic.
Governments differ from country to country and in some cases their involvement is necessary. This doesn't include bitcoin which, of course, shouldn't be banned in a free society. And it won't be banned, I'm sure, in most of the civilized countries. They can start regulating it, yes, but they can't ban it.
What we can see today is increasingly invasive approach of the governments worldwide into the daily lives of it's citizens. I'm not too optimistic about the approach of the most of the governments. Big money has a lot of influence on that level and if it starts to see the bitcoin as a serious threat, we will see much more official involvement against the bitcoin. If it can influence it and to what extent is however a completely different topic.
Governments can't monitor many human to human transactions or not "know" how many tomatoes a farmer grows and sells seems to completely ignore the rapid growth of surveillance already happening and the exponential curve of AI in the present and imminent future.
Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.
Yeah you are right now a lot of the people are making profit from the bitcoin. It is the currency of the future and it will grow more and more than decreasing. No government will stop using bitcoin and it will not let bitcoin get down at any cost because it is the time for all of us to make bitcoin more popular so that the government will legalize bitcoin and they will increase the price more. Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.
This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
What is really happening is a form of set back and short lived victory for government because deep down within, they will start rejoicing that a policy like this a go a long way in crashing the price but little did they know that this is another one of their arsenal let out of the bag and the fall in price is a form of retreat in other to come back stronger against gimmicks like this.
korea had already declared ICO bann. but it seem not affecting at all. not a news that we'd buy right? soon the news about more countries banning BTC and ICOs might just be ignored. and investors will just go on without even leaving a comment.
the only reason why they panic is because chinese investors have no balls. SNM will shine.
I think that the governments can put pressure on bitcoin and other crypto's, but it's too late to stuff the genie back in the bottle.
People are losing faith in their governments, and thus fiat, and need something to put their money in to try and preserve wealth. Precious metals are an age old safe haven, but they're not nearly as practical as crypto when it comes to trade.
The crackdowns may slow bitcoin down, but people will just find other, more secure/anonymous coins to preserve their privacy. See my signature for one upcoming example - Deep Onion.
People are losing faith in their governments, and thus fiat, and need something to put their money in to try and preserve wealth. Precious metals are an age old safe haven, but they're not nearly as practical as crypto when it comes to trade.
The crackdowns may slow bitcoin down, but people will just find other, more secure/anonymous coins to preserve their privacy. See my signature for one upcoming example - Deep Onion.
Here in the US your second point is not true. Home Owners Associations everywhere. People don't want freedom, they want to be controlled and they look for centralized entities everywhere to take over their rights. Federal, state, county, city, associations, unions, churches. People can't get enough of them. An every growing number of people in the US have complete faith in the government and want more of it. The socialism of Bernie Sanders is a growing movement which like bitcoin won't be stopped. Just look at single payer cradle to grave government health care free for all. People are marching in the streets demanding it and they are putting their faith in government to give it to them. In the end they will find they got only lies. They won't have any health care, they won't have any gold/silver and they won't have any bitcoins either. And the guy who sold them the lie be it Bernie, Chaves, Maxine Waters or someone else will be long gone and in all likely hood they will have healthcare, gold/silver and some bitcoins too.
I see bitcoin as a black market safety net to balance out Americas move to socialism which will fail just like it has in Venezuela, Greece and Italy. The rest of EU is in the same boat just farther behind. Bitcoin will continue on driven by the every growing numbers of people who put their faith in central governments. Some of us will know better.
Governments are powerless against drugs, blackmarkets of all kinds. Government once made people in the US turn in gold if they had it. Only the sucker, losers fell for that one. Bitcoin is here to stay and will become a balancing force.
Governments can't monitor many human to human transactions or not "know" how many tomatoes a farmer grows and sells seems to completely ignore the rapid growth of surveillance already happening and the exponential curve of AI in the present and imminent future.
Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.
Government assisted by AI can know pretty much whatever the fuck they want, and in some ways already do. Especially when you add in other incoming tech like the rapid development of drones etc.
Maybe if bitcoins become a threat to their national currency and also their trading, then they may be able to ban cryptocurrencies. I don't know what's the deal with China making bitcoins illegal but from what I heard, bitcoins made their market weak. If this is so, then governments may ban CC as well.
May be you are right because they can be a threat for national currency which is not so much beneficial in the country’s interest. China has banned bitcoins in their country because bitcoins have weakened their economy as china has very large number of bitcoins investors. So governments may take action against bitcoins.Jump to: