The Government Could Shutdown Bitcoin? - page 2.

omfg.xekcep

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

Unfortunately I have not completely understood what you actually mean and what you imply saying that the government might prohibit bitcoin or other cryptocurrencies. I never used to participate in the similar discussions because I did not consider them quite useful and sensible. Why so? I do not know. Anyway, at least I will endeavor. So, let us return to your question. If really, I cannot understand why the government ought to be worried about the bitcoin existing. What are the reasons? Why the government did not prohibit cryptocurrencies until cryptocurrencies became popular and quite wide usable, at lest it would be much easier to eliminate bitcoin earlier than now. I meant the government might dispose the whole crypto market but probably the government would not wanna do it. May be the government understands the cryptocurrencies are vital for the further evolving high tech. I consider that prohibiting bitcoin is something like prohibiting "freedom". And I repeat, the government would have prohibited cryptocurrencies if the government had wanted to do that. As we can see the government actually do not care of it.

Palider

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The government can't do that, and to be worth $ 1,000 worth of bitcoin the government needs to buy all the bitcoin 15, million BTC or 10,821,750,000 USD is actually not all. Do you think the government will waste that much money for bitcoin?

peter0425

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

lol if the government can control Bitcoin then surely they have done this the very moment,but its not the thing no single entity that can control bitcoin.

Quote from: adeandro on November 25, 2019, 09:59:15 AM

If they really want it, they will do it, very quickly.

lol in your dreams Grin

adeandro

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If they really want it, they will do it, very quickly.

Gheka

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Quote from: xvids on November 24, 2019, 01:46:09 PM

Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

They could ban Bitcoin in their country but they could never shutdown Bitcoin.
And it isn't simple and easy how do you think they would make the price drop below $1,000 again?
And if it ever reach that low again do you really think that they could maintain it that way?
People would grab their chance to buy it back for sure.

Why don't you think governments can easily shut down bitcoin but they simply think this is unnecessary and has no benefit to them? Banning or disabling bitcoin are all jobs within the power of the government when they own a series of genius brains, even smarter than the person who created bitcoin. However, governments are still more interested in their interests, the benefits of the economy with bitcoin, a lot of mysterious relationships and tacit cooperation between the government and people involved in bitcoin, the shutdown of bitcoin will destroy the hidden benefits and promote many economic problems

Wind_FURY

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Quote from: Blawpaw on November 24, 2019, 06:59:13 PM

I don't think that governments could take down Bitcoin. To do that they would have to shut the internet. Even if the governments criminalize using and mining Bitcoin the price would skyrocket and Bitcoin would become more desirable than ever. Even if the government tries to control Bitcoin price I don't think they would succeed.

The government actually will undertand that it would be better to give in to their greed, and be miners, and HODLERS. Cool

Wintersoldier

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Quote from: Blawpaw on November 24, 2019, 06:59:13 PM

Even if the government tries to control Bitcoin price I don't think they would succeed.

The point is because the Government is powered by people, and cryptocurrency and Bitcoin is also powered by people. If Government will try to ban or shut down bitcoin, people will lose trust to cryptocurrency. Why should a government stop an asset or technology when it provides allot of benefits to their people? Soon they will support it and implement its security once they figure out how crypto could contribute to their country. But will never ever have the capability to shut down crypto especially Bitcoin.

Blawpaw

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I don't think that governments could take down Bitcoin. To do that they would have to shut the internet. Even if the governments criminalize using and mining Bitcoin the price would skyrocket and Bitcoin would become more desirable than ever. Even if the government tries to control Bitcoin price I don't think they would succeed.

Lizzie_Girl

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Quote from: BitcoinGirl.Club on November 22, 2019, 06:17:02 AM

Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

In other words you are saying the bitcoin will be controlled by a single power?

Seriously! What is wrong with you people? When you see a sudden fall then you lot start to panic and forget about this that this kind of things happened thousands times with Bitcoin but still it had 20,000x gains against this shit dollar currency.

You people really do not deserve bitcoins. If you are not okay to hold your coins if the price goes down to $1k (which is highly unlikely) then you people really do not deserve to see bitcoin price to have $100k against this dollar shit.

Exactly it. Do they think stabilizing it will kill it? Why would that kill it? More people will invest. It is a much better way to pay and these fools are losing the point entirely.
They should all just sell their bitcoin and be over with it. They do not use it for what it is meant for and always cry when the price goes up. They think everything will be 100% all the time. Impossible.

djcaoile1205

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Lol these decided it's too easy? If the price will be about 1000k, I will be the happiest human in this world. I just go buy more btc and more! And then, it will up to the sky coz there re so many people like me.

xvids

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

They could ban Bitcoin in their country but they could never shutdown Bitcoin.
And it isn't simple and easy how do you think they would make the price drop below $1,000 again?
And if it ever reach that low again do you really think that they could maintain it that way?
People would grab their chance to buy it back for sure.

amyshek1979

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You're absolutely right. If the price really falls, then we will run to buy more and more bitcoin. We are a huge community that is getting bigger every day. They simply cannot control the price.

jets567

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

There is no goverment that has power to control the price of Bitcoin and lets say that even if they did lower the price under $1000 for a long time, how sure they are that people will lose interest in Bitcoin? and what if some people take this as an opportunity to buy large amount of Bitcoin then the demand increase as well as the price so that kind of thinking will not work.

diazepam666

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If any biggest riot rise against government means they might be shut down but none can stop the the operation of blockchain and cryptocurrency. If you think that Bitcoin value can rise or fall!
It is reasonable and we can understand that volatile nature made you that but shutting Bitcoin not happening even in the dream.

BlackFor3st

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

Its a very cheap trick and it has very low of success rate, if I were the government's the best way to shutdown crypto currencies are to make it illegal and anyone who are still in it will be punished or put into jail.

Some countries are doing it but this scenario will not happen to all the government's as not everyone has the same reasoning as other government's are legalizing also bitcoin which is opposite in banning it.

uneng

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Quote from: lighpulsar07 on November 24, 2019, 10:46:43 AM

They could especially USA. governments can do anything they want within their territory if they want to ban bitcoin they will ban it if won't they won't ban it it's just how the way us ordinary citizen wouldn't do anything about it. But still bitcoin will go on it will just it's price and it will turn back to normal and of course people will have to VPN to just buy and sell bitcoin.

That is ridiculous. A government can't do this, because they will be wasting a lot of national financial resources to dump a digital currency that can be pumped on the next second by any other person or group at any random place in the world.
Governments can only shutdown bitcoin through regulations, although you are right, as there is the vpn option, people can continue using it at their own risk.

agentx44

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Quote from: Asuspawer09 on November 22, 2019, 05:48:26 AM

I read this article online that the government could stop the Bitcoin? Easily using a simple trick.
Making the bitcoin market price staying in under a 1000$ for a long time and wait for the people to lose interest in it.

For me, this is easier said than done, making the bitcoin market price lower than 1000$ would encourage investors to invest in bitcoin that will inevitably affect the market price.

What is your opinion about this? Could the government do this?

https://bitcoinist.com/bitcoin-could-be-stopped-by-governments-pretty-simply/

Considering the fact that bitcoin is a decentralized currency, manipulating its value could be quite impossible I think which means the government will surely have a hard time on controlling its value into 1000$. Another thing, bitcoin's system is well organized and breaching in would be impossible because if it is, then lots of IT experts could have hacked it in to gain lots of money so that could be another struggle for the goal of shutting down bitcoin I guess. Bitcoin is a powerful coin, you can never underestimate its capability and system so it would be best if we would just avoid thinking about the feasibility of having bitcoin shutdown by the government.

lighpulsar07

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They could especially USA. governments can do anything they want within their territory if they want to ban bitcoin they will ban it if won't they won't ban it it's just how the way us ordinary citizen wouldn't do anything about it. But still bitcoin will go on it will just it's price and it will turn back to normal and of course people will have to VPN to just buy and sell bitcoin.

blckhawk

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I do agree with OP. Shutting down Bitcoin isn't an easy task, it has already grown and is resilient to such manipulation. One man cannot put negative pressure on the prices constantly to keep it under a thousand. Several holders are there ready to buy in because they know in themselves that Bitcoin is worth something. Total censorship by the government isn't also gonna affect Bitcoin and transactions would continue pretty much like an underground trading, since Bitcoin surpasses banking traditional regulations, privacy, and fees.

crossabdd

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I don't think it's that easy. Are you sure, the government can hold the price of bitcoin at $ 1000? no, because the price of bitcoin is free. it is determined by the users, it depends on demand and supply. not the price set by the government. maybe the government can ban bitcoin, but can't stop it.

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