We only have to look at the countless examples of people in countries where Bitcoin is banned to see people continue using it. Or we could simply look to the decentralized P2P file-sharing network, BitTorrent, which continues to thrive despite it being illegal in many places. The other factor is there'd need to be a global, unified ban, which is unlikely, so there will always be regulatory/geographical arbitrage. Bitcoin the network and protocol are near impossible to stop.
Topic: No One Can Shut Down Bitcoin - page 6. (Read 1229 times)
Turning off bitcoin is the same as turning off electricity and the internet network which is very influential to be able to use bitcoin and if both do not exist then bitcoin will not exist.
and bitcoin has spread throughout the world and cannot be stopped, Bitcoin is like the sky net in the Terminator movie, meaning Bitcoin transactions will not disappear as long as there is the internet.
So far only a few countries have tried to kill bitcoin and so far no one has been able to prove it, and can only ban but not kill it.
and bitcoin has spread throughout the world and cannot be stopped, Bitcoin is like the sky net in the Terminator movie, meaning Bitcoin transactions will not disappear as long as there is the internet.
So far only a few countries have tried to kill bitcoin and so far no one has been able to prove it, and can only ban but not kill it.
It is impossible to shut down and regulators will become a little more friendly over time towards digital currencies.Probably they Can't outlaw but they can banned bitcoin in every country, Specially If the government wants to ban Because of the negative side of the community of bitcoin.Cu'z We all know That the Bitcoin Is Decentralized,
Can the government shutdown or ban it? Nope they can't. To ban bitcoin they will have to ban everyone in their country. Like literally every people. Because all people together make the decentralized network. It would have been easier for the government to ban bitcoin if it was a centralized coin. All they had to do was to ban the central authority that would have controlled the network. But yeah, the government can indirectly ban the usage of crypto currencies or bitcoin through imposing very strict policies.
The pros and cons of bitcoin will of course always be there. when the price of bitcoin is high enough and beats all digital assets, of course FUD will be scattered a lot, this will make bitcoin prices crash and the goal of making FUD is to make bitcoin fall again.
but to turn off bitcoin nothing will be able for now. Bitcoin is still the most valuable digital asset today. Even though bitcoin regulations in some countries are still illegal bitcoin still persists.
A real example is China which recently made bitcoin prices drop, because China expelled all bitcoin miners out of the country.
Bitcoin will survive as long as this community remains. Bitcoin will not be extinct, Bitcoin is a future technology that will be very promising.
but to turn off bitcoin nothing will be able for now. Bitcoin is still the most valuable digital asset today. Even though bitcoin regulations in some countries are still illegal bitcoin still persists.
A real example is China which recently made bitcoin prices drop, because China expelled all bitcoin miners out of the country.
Bitcoin will survive as long as this community remains. Bitcoin will not be extinct, Bitcoin is a future technology that will be very promising.
Exactly, no need to be worried about it. Although BTC has crashed the price into a very dip price, there are still others who will help Bitcoin to rise up. It is a matter of time and also market condition.
Actually, if all power and institution worldwide work together, Bitcoin can really day. In the condition of:
- Whales make dump sell of BTC at a very low rate
- Spreading FUD every day
- Government rules and regulations who are more strick,
- Many more bans
But, of course, they will not be willing to do this, and for what? That is why I also do believe that no one can shutdown BTC
Actually, if all power and institution worldwide work together, Bitcoin can really day. In the condition of:
- Whales make dump sell of BTC at a very low rate
- Spreading FUD every day
- Government rules and regulations who are more strick,
- Many more bans
But, of course, they will not be willing to do this, and for what? That is why I also do believe that no one can shutdown BTC
So far what I have seen is the same pattern. They are the same countries that create bitcoin FUDs. It is no coincidence that just when the bullish race for bitcoin occurs, the bans begin, it is logical to think that governments and central banks observe people's interest in bitcoin and cryptocurrencies.
It is a reality for all of us we are stopping using banking services because we prefer to invest in the crypto space.
For all that we have experienced, bitcoin will prevail forever, otherwise governments would be taking the freedom that we have won in the past and for which we hold on to bitcoin.
It is a reality for all of us we are stopping using banking services because we prefer to invest in the crypto space.
For all that we have experienced, bitcoin will prevail forever, otherwise governments would be taking the freedom that we have won in the past and for which we hold on to bitcoin.
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?
This has been known from the very beginning, governments can outlaw whatever they want and this of course includes bitcoin, but when the will of the people opposes the ban then they will have no other option but to take a step back and allow it, and we have many examples of this, alcohol was banned on the US but the demand for it was so huge and it enriched the mafia so much the US government did not had any option but to concede and make it legal again, the same is happening with cannabis and if they are dumb enough to do this to bitcoin the same will happen as the demand of bitcoin will do nothing more than to increase due to the outrageous amount of money governments are printing to pay for the costs of the pandemic. 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?
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?
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?
until whenever they won't be able to ban Bitcoin, that's an impossible job...
day by day more and more who initially rejected Bitcoin now instead support it, this is a revolution. fighting Bitcoin today like fighting revolutionaries who want freedom, an eternal battle that the government will never win.
Government had long time ago trying out to ban bitcoin and now that its already getting some recognition and adoption is on the rise which makes them more worry.
Some had banned it and some had tend to accept or adopt it just because they cant do anything about it even if they do try to get rid of it. Banning wont be enough
because it would continue to exists as long the community would mainly support it then there's no way that bitcoin could die or being shut down.
^ I have heard many countries had been banning BTC but until people there can still access BTC or even have a trading activity on cryptocurrency.
Most of them are in Islamic countries or something in the middle east country. So until when they are banning BTC? Until they come at the point looking for a way how to shut it down, there is no way to shut it down BTC and no one will do that. Governments are always doing that but still, BTC will always exist. Why they are afraid of this technology, this is even don't have a threat to the whole financial system. Instead, accepting the innovation of technology through BTC is a great idea.
Most of them are in Islamic countries or something in the middle east country. So until when they are banning BTC? Until they come at the point looking for a way how to shut it down, there is no way to shut it down BTC and no one will do that. Governments are always doing that but still, BTC will always exist. Why they are afraid of this technology, this is even don't have a threat to the whole financial system. Instead, accepting the innovation of technology through BTC is a great idea.
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?
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?
until whenever they won't be able to ban Bitcoin, that's an impossible job...
day by day more and more who initially rejected Bitcoin now instead support it, this is a revolution. fighting Bitcoin today like fighting revolutionaries who want freedom, an eternal battle that the government will never win.
He's 100% right, Bitcoin can't be destroyed. Paradoxically, local restrictions in different countries may even lead to the increased price, because the hodlers won't be able to sell.
Also, people will always have access to Bitcoin through darknet or make transactions using hardware wallets. The only thing the govs can actually affect is exchanges, so this limits the ability to withdraw. I think such bans will lead to the emergence and spread of underground exchanges. Bitcoin will live!
Also, people will always have access to Bitcoin through darknet or make transactions using hardware wallets. The only thing the govs can actually affect is exchanges, so this limits the ability to withdraw. I think such bans will lead to the emergence and spread of underground exchanges. Bitcoin will live!
I agree that the switch that "turns off" bitcoin does not exist and there is no point in it. It is much easier to create trouble and drop the price of something to discourage many from wanting to do business with him. However, it is impossible to completely destroy this "genie" who has long escaped from the jug and lives its own life. By expelling him from one region of the world, you simply move him to another, this is all that the governments that are fighting against him can count on.
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.
The government already tried its best to shut down bitcoin but they cannot do it, they are always fo something to take over decentralization because they know how good it is and they can't do something to benefit from it and the government hates that thing. Bitcoin is now unstoppable and I don't think that there is one thing that can shut it down unless we lose internet connection worldwide.
The best example here is China, how many times they had said that they ban bitcoin but until now, many people have their own bitcoin.That's right, bitcoin is unstoppable and no one will stop it because it is decentralized and millions of people were holding bitcoin in different codes digitally. So it is impossible for them to shut down bitcoin.
I'm thinking what if they will also enforce to ban the bitcoin mining all over the world. We will become no miners, how bitcoin transaction will work in that way.
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If I was the million dollar hodler, I would just hodl for the rest of my life though I would sell a bit from that and I wouldn't still be broke in crypto. 
I'd consider that investment in mining but it isn't my thing.
It's impossible to stop Bitcoin, but it is capable of being regulated on how people uses it not merely how Bitcoin functions.
I am fully agree with your opinion but some people can damage market hugely. Let you consider Elon musk and China government already declared Bitcoin as a huge misused of fuel and power energies consumptions . Due to the high consumption of energies, most of the people are preferring to ban Bitcoin.
For the people outside bitcoin, what banning means to them is just like banning it entirely on their jurisdictions. But they don't understand that there is no one that can stop its continuous mining operations from different parts of the world and its own blockchain will continue no matter how many mining farms they crack down and ban it solely, they can't shut down the whole network for bitcoin.
I'm sure that they will never be able to shut it down and you saying that "governments" will do it look so dumb. When was the last time you saw the governments of the world cooperate to fight something together? Even if we were attacked by an enemy from space they wouldn't be able to work together. I bet some countries would like to make a deal with the invaders while others would be fighting it.
Even if 50% of the world bans bitcoin the other 50% will see it as an opportunity to make money.
Even if 50% of the world bans bitcoin the other 50% will see it as an opportunity to make money.
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?
They can do all those bans and prohibitions but that wont really be enough on getting rid with bitcoin since when it comes to accessibility then it cant really be stopped.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?
They can really give out influence when it comes to legal matter for those platforms whom do attached to it but remember we do have dex and p2p transactions
that cant still be done without any intervention into any platforms which simply shows that it cant really be controlled nor can be handled out
even how powerful or influential you are and this is what the community do see on it which did really get big support.
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