No One Can Shut Down Bitcoin - page 4.

lepbagong

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Quote from: Blowon on June 01, 2021, 10:44:10 PM

Bitcoin can be stopped if there is no longer internet and community, but it is impossible now. We see there are even billions of dollars in the bitcoin industry. That's also one of the factors why bitcoin can't be stopped. If, the internet and technology fade that's when bitcoin disappears.

technology is growing day by day as well as the existence of bitcoin making it something that is very much needed in an era like this. the need for bitcoin is clearly very much needed there is no way anyone can prevent it with the progress that is happening today. added days the progress of bitcoin is unstoppable and is urgently needed to facilitate transactions without any restrictions that can prevent it.

yes the internet plays an active role in the use of bitcoin because without the internet there is no benefit, so it is true that you say bitcoin will fade if the internet and technology no longer exist, but is it possible !!! Of course it will not happen, it will become an inseparable need.

bocyaj

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Quote from: ConnerDalfino on May 28, 2021, 03:52:22 AM

Binance CEO Changpeng “CZ” Zhao said it’s impossible for a single entity to kill bitcoin and its underlying blockchain technology. “I don’t think anyone can shut it down now, given that this technology, this concept, is in 500 million people's heads,” he added. Binance is the biggest cryptocurrency exchange by volume.

Theoretically, this is true, but governments and regulatory bodies can severely restrict access to and redemption of bitcoin. While the network will always be accessible through an internet connection, and Bitcoin will always have value, it is another issue if BTC use and custody are heavily regulated or outlawed due to Governmental fear of losing their monopoly on the money supply.

Your opinion?

It's a fact one.Because of this, the bitcoin had struggled over a 12 years. It's because of the fact of decentralized concept. The price of bitcoin also cannot be alter by any of the individual people. It purely the decentralized concept and people easily get profit by just holding it without selling it.

dark1234

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until whenever bitcoin will always run with time, because bitcoin is a very difficult time to be cornered the more governments prohibit and make rules that want to bind bitcoin, the times will get bigger and move off from its capabilities
and we know that until now in some countries there are still differences of opinion and perception about bitcoin and this is what makes bitcoin continue to strengthen from year to year

Bitcoin-Eco

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Nothing can destroy Bitcoin....but Bitcoin

samsul1234

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Quote from: ConnerDalfino on May 28, 2021, 03:52:22 AM

Binance CEO Changpeng “CZ” Zhao said it’s impossible for a single entity to kill bitcoin and its underlying blockchain technology. “I don’t think anyone can shut it down now, given that this technology, this concept, is in 500 million people's heads,” he added. Binance is the biggest cryptocurrency exchange by volume.

Theoretically, this is true, but governments and regulatory bodies can severely restrict access to and redemption of bitcoin. While the network will always be accessible through an internet connection, and Bitcoin will always have value, it is another issue if BTC use and custody are heavily regulated or outlawed due to Governmental fear of losing their monopoly on the money supply.

Your opinion?

hello sir, yes i agree with you, however people look at bitcoin and want to destroy it, i don't think it will be able, even elon though, bitcoin has gone very, very long, and in it there is a network that will never even be cut off and if the government regulates or tighten the regulations in bitcoin, I think there will be a demo for it, the government may also change the regulation of bitcoin which is getting bigger and bigger

wendy sy

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On the surface, countries can close some mines and prohibit their mining activities, but private transactions are unavoidable, and Bitcoin is scattered around the world, it is impossible to close it, not to mention the fact that blockchain technology does bring Come some technical updates, I think it will be helpful to humans.

Kasabus

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Quote from: 7788bitcoin on June 02, 2021, 03:02:13 PM

Quote from: tabas on June 02, 2021, 02:13:13 PM

It's very impossible for the world to lose its internet. There's already some backups that are on the space to provide internet access for some areas and that's why if there's a world problem about internet, they'll use that. We probably don't know how it's going to be possible to lose the internet worldwide but there could be a way but that won't happen because it would lose not only billions of money combined for every country affected.

It is possible for internet disruption if there are natural disaster and we have seen that in the past and then we have experienced that when the underwater sea cables were damaged in the past and no one was able to log online for a while and the internet connections were really slow during that period and so this the reason i am telling that it is possible that we can face internet disruption but that does not mean that the entire Bitcoin network can be shut.

Whenever possible internet disruptions happen, the concerns will definitely have to fix it immediately so that the damage won't be prolong. But in terms of bitcoin banning, a lot of countries have tried to ban bitcoin and their governments impose strict regulations towards bitcoin but it all ends that. No one is capable to shut down bitcoin and its blockchain no matter how they tried.

I got confused why they have to shut down bitcoin when in the fact they can possibly generate profits if they will adopt it? Government officials might fear of bitcoin's transparency and all illegal transactions might be definitely track. But having to use it and impose taxes will still give them the chance to make profits.

LUCKMCFLY

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Quote from: Blowon on June 01, 2021, 11:13:24 PM

Quote from: Lordhermes on May 28, 2021, 03:21:37 PM

How many times have they tried it but no way for the government to ban it, china, Nigeria, India, afghanistan, and all these counties government had made a trial of stopping the usage of cryptocurrencies, notwithstandingly, they could only stop the bridge and interconnection of crypto and banks, that's the only option that Nigerian government used to restrict crypto enthusiasts, still yet, Nigerian are among the higher crypto users in the world.

it's the same with my country in Indonesia, they initially gave a ban to cryptocurrency in various ways, but the technology is unstoppable, in 2019 the government arrived to allow bitcoin as a communiqué asset. and now in our country crypto projects are highly developed. Even here we have a local binance. It's called a tokocrypto.

I think that these countries that banned BTC people must be somewhat more irreverent, it is not possible and it should not be accepted that a government, bank or third party takes away the right not to have BTC, or not to use it, much less save it, these Countries that have banned Bitcoin seems to me that their governments at some point have to back down, because Bitcoin is ringing globally, and they cannot refuse the technology, they cannot be left behind.

The main reason why they do it is so that they do not do money laundering, but the same thing happens, those who use VPN and protect themselves very well, can access and make all kinds of transactions, in addition, OTP exchanges have more emergence, it is It is impossible that in the near future there will be countries with this type of vision, at some point they must retract.

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Quote from: isaac_clarke22 on June 02, 2021, 02:18:28 PM

Quote from: tabas on June 02, 2021, 02:13:13 PM

~

It is still built and coded. It can still be destroyed by whatever means you can imagine.
Even data in the cloud storage would not be able to be accessed because servers maintain everything in it including changes that happens to every data.

Yes, but there are now infrastructures that has been built to back it up just in case something like we can imagine breaks it.

Quote from: Mahanton on June 02, 2021, 02:25:13 PM

Impossible for such thing to happen on losing internet globally unless if there would some strong EMP would hit up earth which would cause this kind of problems but well those are just example but actually it cant really happen so we can say that internet connection is something excluded out on the list
for things to vanished.Bitcoin couldnt die as long there would be connection and demand in the community. If government had able to stop bitcoin
then they had already done those things in the past when it is just starting on and now it had became big which its even more hard
to stop and we are currently witnessing it.

Bitcoin's network/blockchain will just continue even if there's a disruption in the internet. Some place won't have internet connection but for some others, they will still have.

Quote from: 7788bitcoin on June 02, 2021, 03:02:13 PM

It is possible for internet disruption if there are natural disaster and we have seen that in the past and then we have experienced that when the underwater sea cables were damaged in the past and no one was able to log online for a while and the internet connections were really slow during that period and so this the reason i am telling that it is possible that we can face internet disruption but that does not mean that the entire Bitcoin network can be shut.

There's a disruption but it hadn't stopped or completely lost internet. I remember that undersea water cable, I was one of the affected user with that incident.

7788bitcoin

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Quote from: tabas on June 02, 2021, 02:13:13 PM

It's very impossible for the world to lose its internet. There's already some backups that are on the space to provide internet access for some areas and that's why if there's a world problem about internet, they'll use that. We probably don't know how it's going to be possible to lose the internet worldwide but there could be a way but that won't happen because it would lose not only billions of money combined for every country affected.

It is possible for internet disruption if there are natural disaster and we have seen that in the past and then we have experienced that when the underwater sea cables were damaged in the past and no one was able to log online for a while and the internet connections were really slow during that period and so this the reason i am telling that it is possible that we can face internet disruption but that does not mean that the entire Bitcoin network can be shut.

Mahanton

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Quote from: tabas on June 02, 2021, 02:13:13 PM

Quote from: Blowon on June 01, 2021, 10:44:10 PM

Bitcoin can be stopped if there is no longer internet and community, but it is impossible now. We see there are even billions of dollars in the bitcoin industry. That's also one of the factors why bitcoin can't be stopped. If, the internet and technology fade that's when bitcoin disappears.

It's very impossible for the world to lose its internet. There's already some backups that are on the space to provide internet access for some areas and that's why if there's a world problem about internet, they'll use that. We probably don't know how it's going to be possible to lose the internet worldwide but there could be a way but that won't happen because it would lose not only billions of money combined for every country affected.

Impossible for such thing to happen on losing internet globally unless if there would some strong EMP would hit up earth which would cause this kind of problems but well those are just example but actually it cant really happen so we can say that internet connection is something excluded out on the list
for things to vanished.Bitcoin couldnt die as long there would be connection and demand in the community. If government had able to stop bitcoin
then they had already done those things in the past when it is just starting on and now it had became big which its even more hard
to stop and we are currently witnessing it.

isaac_clarke22

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Quote from: tabas on June 02, 2021, 02:13:13 PM

~

It is still built and coded. It can still be destroyed by whatever means you can imagine.
Even data in the cloud storage would not be able to be accessed because servers maintain everything in it including changes that happens to every data.

tabas

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Quote from: Blowon on June 01, 2021, 10:44:10 PM

Bitcoin can be stopped if there is no longer internet and community, but it is impossible now. We see there are even billions of dollars in the bitcoin industry. That's also one of the factors why bitcoin can't be stopped. If, the internet and technology fade that's when bitcoin disappears.

It's very impossible for the world to lose its internet. There's already some backups that are on the space to provide internet access for some areas and that's why if there's a world problem about internet, they'll use that. We probably don't know how it's going to be possible to lose the internet worldwide but there could be a way but that won't happen because it would lose not only billions of money combined for every country affected.

Lorence.xD

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Quote from: Obito on May 28, 2021, 05:38:59 AM

Actually there is, that would probably be the Internet consortium that has seven members that are spread around the world and they have the rings that is going to access a backdoor for Internet that they use to have a maintenance for the Internet to keep it running for 3 more months so yeah there is an entity that can shut down bitcoin.

I have heard of this and I think that they have an anonymous identity and they live in different countries, they're kind of like the Michelin food reviewers but less anonymous. That's pretty cool that the Internet can only run for 3 months before shutting down because that's such a short amount of time given how fast paced our world is. I think that electric grid companies are probably the other entity that cam shutdown bitcoin for good and only if there will be no electricity again.

Blowon

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Quote from: Lordhermes on May 28, 2021, 03:21:37 PM

How many times have they tried it but no way for the government to ban it, china, Nigeria, India, afghanistan, and all these counties government had made a trial of stopping the usage of cryptocurrencies, notwithstandingly, they could only stop the bridge and interconnection of crypto and banks, that's the only option that Nigerian government used to restrict crypto enthusiasts, still yet, Nigerian are among the higher crypto users in the world.

it's the same with my country in Indonesia, they initially gave a ban to cryptocurrency in various ways, but the technology is unstoppable, in 2019 the government arrived to allow bitcoin as a communiqué asset. and now in our country crypto projects are highly developed. Even here we have a local binance. It's called a tokocrypto.

Dread Pirate Roberts

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In my understanding in the blockchain bitcoin there is no authority that can control the blockchain system or stop it. and the crypto community itself is already huge with many people and company had bussiness running on it. the only possible way they closed way people to access it . even if the access is closed there will always be a way people to use it and access it. this only the worst assumption but i don't think that will happen.

Blowon

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Bitcoin can be stopped if there is no longer internet and community, but it is impossible now. We see there are even billions of dollars in the bitcoin industry. That's also one of the factors why bitcoin can't be stopped. If, the internet and technology fade that's when bitcoin disappears.

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Quote from: Cling18 on June 01, 2021, 09:37:54 PM

The government or huge organizations could ban Bitcoin yet they couldn't shut it down. It has built a strong foundation already so I don't think it would end that easy especially now that it's being adopted by big companies and lots of investors. There are still lots of upcoming adoptions so we should expect the best instead of thinking about negative things that might happen.

Right now they are not banning, they are only regulating. It's going to be impossible to ban nor shutdown BTC and they realized this so they are only regulating. They are however overdoing it because there seem to be CLEAN BTC and UNCLEAN BTC which affect the fungibility of the coin. There isn't really a regulatory standard for Bitcoin, they just come up with this regulation at the protocol level that will undermine the fundamental property of BTC.

Cling18

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The government or huge organizations could ban Bitcoin yet they couldn't shut it down. It has built a strong foundation already so I don't think it would end that easy especially now that it's being adopted by big companies and lots of investors. There are still lots of upcoming adoptions so we should expect the best instead of thinking about negative things that might happen.

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Well, I think of the same thing, bitcoin can't be turned off because it has a large community, like what binance's CEO says, that more than 500 million people currently hold bitcoin, how can bitcoin die if that many people hold it, and bitcoin is also the most profitable asset because it is a financial industry.

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