Topic: The U.S. Government Tried To Shut Down Bitcoin (Read 1127 times)
Even though all the biggest countries will try to shut down bitcoin, they will not become successful at it. Bitcoin is completely decentralized and there is no person or company behind bitcoin that is completely responsible to it. Bitcoin works on its own and the reason why government is trying to shut down bitcoin is they know that bitcoin is so powerful so they are trying to shut it down so people will get scared of using cryptocurrencies.
I think they do the right thing. they have a voice and their country hates money laundering or tax evasion. As for the crypto market, most businesses formed here are just to avoid tax or money laundering wisely. That's why you see more than 4,000 coins were generated and only a few dozen alts worked well. This is the largest manipulation and money laundering market in the world that any government hates and prohibits businesses from joining. If we run a large country, we would not want our people to evade taxes or launder money in this way. things will get chaotic and the economy will not be stable.
This news constitutes with other fud makers and I think that there's a shady plans for other big whales in connection to the government. No matter who eager they're trying to pull down bitcoin, they couldn't be successful because of the decentralization of bitcoin. It's created to become anonymous, so people preferred to use it independently, and in fact most of the growing businesses in US implemented the system using blockchain technology.
I think they do the right thing. they have a voice and their country hates money laundering or tax evasion. As for the crypto market, most businesses formed here are just to avoid tax or money laundering wisely. That's why you see more than 4,000 coins were generated and only a few dozen alts worked well. This is the largest manipulation and money laundering market in the world that any government hates and prohibits businesses from joining. If we run a large country, we would not want our people to evade taxes or launder money in this way. things will get chaotic and the economy will not be stable.
Lets just start with the basic concept of crypto currencies. They were created as a digital medium of exchange but as all new concepts take time, this one also requires some time before the purpose is served.
A digital medium of exchange? Then what difference does Gaypal, ApplePay and others like those have with bitcoin? Bitcoin is decentralized and somewhat anonymous, censorship-resistant. Thats what gives it an upper hand. Quote
We can see countries planning to launch their own crypto currencies and definitely this means we are heading towards an era of crypto coins.
Wrong. People who understand the ideals of a decentralized currency would not go for state government backed coins. They are completely centralized like Ripple and a waste of an investment to make, let alone use any for transaction purpose. If you like them then do as you wish but taking Venezuela as an example would be a biased one since they had an economic collapse without any way to recover from it while other bigger countries are able to recover with time.Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
What I believe is that you have answer in your question. America will always try to oppose Russia and China because of her differences with them. China is claiming to be the next super power and Russia was once a super power. Both these countries are not in favor of America as a super power. Well as far as bitcoin is concerned, I am pretty sure that in the coming decade it would be accepted by all states of the world. if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
The united states will never even think of destroying the bitcoin again, but they would rather look for the opportunities to also blend and also create things that would make them to want to be in control of the cryptocurrency technology, so there will not be any plan by US again to scrap cryptocurrency, except they want to lose their power completely.
In such a confusing domain, it is normal that theories of all kinds are born.
In reality, even if there is apparently a war going on, governments are quite indifferent to what happens in the world of crypto: volatility is high, trade volume is irrelevant, and mass adoption - if there ever is - very far.
Lets just start with the basic concept of crypto currencies. They were created as a digital medium of exchange but as all new concepts take time, this one also requires some time before the purpose is served. We can see countries planning to launch their own crypto currencies and definitely this means we are heading towards an era of crypto coins. What future do you think bitcoin and altcoins hold? In reality, even if there is apparently a war going on, governments are quite indifferent to what happens in the world of crypto: volatility is high, trade volume is irrelevant, and mass adoption - if there ever is - very far.
In such a confusing domain, it is normal that theories of all kinds are born.
In reality, even if there is apparently a war going on, governments are quite indifferent to what happens in the world of crypto: volatility is high, trade volume is irrelevant, and mass adoption - if there ever is - very far.
In reality, even if there is apparently a war going on, governments are quite indifferent to what happens in the world of crypto: volatility is high, trade volume is irrelevant, and mass adoption - if there ever is - very far.
Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
What I believe is that you have answer in your question. America will always try to oppose Russia and China because of her differences with them. China is claiming to be the next super power and Russia was once a super power. Both these countries are not in favor of America as a super power. Well as far as bitcoin is concerned, I am pretty sure that in the coming decade it would be accepted by all states of the world. if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Well, even if how many attempts they are going to do to shut down bitcoin it will never be shut down because they don't have an access on it and bitcoin is a cryptocurrency and even if it's banned in the US but still it's growing and no one can shut it down. Through using VPN it will change IP address and you can still be using Bitcoin but you can sell into fiat money which is asking personal data. Indeed, even the government did not have a power to shut down Bitcoin.
There are two ways to shutdown bitcoin, they can shutdown the electric grid or they can shutdown the Internet, what happens is that none of these options are really appealing to anyone since shutting down any of those networks will create a huge disruption around the world, but make no mistake bitcoin as formidable as it is has some weak points like anything else and we cannot discard the possibility that in the future the governments find an exploit and try to destroy bitcoin again. 
I think most countries do not like bitcoin and cryptocurrency. including the United States government. they don't like bitcoin and cryptocurrency because anonymous and unregulated cryptocurrency can be used for criminal acts such as drug trafficking and terrorist financing. and I think if now the United States government wants to stop bitcoin I think it's too late because bitcoin has grown rapidly and already has a lot of investors all over the world.
Even if they did ban the usage of Bitcoin still they cannot prohibit the people from using it, Bitcoin has an untraceable track which makes things more difficult for the government. The government is only against in Bitcoin and other cryptocurrencies simply because it is tough to regulate this type of currency, meaning this can be used in some notorious transaction that involves drugs, terrorism and more. Moreover, as long as people could get profit from Cryptocurrencies they will never stop utilizing this technology even if they declare it unconstitutional.
Well, even if how many attempts they are going to do to shut down bitcoin it will never be shut down because they don't have an access on it and bitcoin is a cryptocurrency and even if it's banned in the US but still it's growing and no one can shut it down. Through using VPN it will change IP address and you can still be using Bitcoin but you can sell into fiat money which is asking personal data. Indeed, even the government did not have a power to shut down Bitcoin.
If I am not wrong, the article says that some of the government officials investigated the possibility of destroying Bitcoin back in 2011-12 (probably due to its use in Wikileaks funding). But the informant specifically says that apart from these investigations, none of the agencies ever took any real steps in that direction. Perhaps they thought that it will be counterproductive, giving more publicity for Bitcoin.
Well, even if how many attempts they are going to do to shut down bitcoin it will never be shut down because they don't have an access on it and bitcoin is a cryptocurrency and even if it's banned in the US but still it's growing and no one can shut it down. Through using VPN it will change IP address and you can still be using Bitcoin but you can sell into fiat money which is asking personal data. Indeed, even the government did not have a power to shut down Bitcoin.
Not just US government, it is absolutely impossible for bitcoin to be control by government through its entire system in their hand because there is no one that own bitcoin, and there is no one that can make any coin that is similar to bitcoin, government will therefore control the exchanges than these coins, once they are able to regulate and control the exchange, they have already started controlling the better part of cryptocurrency.
For this not to happen, we have to all start working towards encouraging dex exchange developers to do more, because with dex and using a decentralized coin, we will have absolutely control and government would not even be able to do anything about it rather than just looking for a way to deal with the situation.
For this not to happen, we have to all start working towards encouraging dex exchange developers to do more, because with dex and using a decentralized coin, we will have absolutely control and government would not even be able to do anything about it rather than just looking for a way to deal with the situation.
Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Only united state country want to shut down and banned using bitcoin, there are still many bigger economic country want to adopt and altcoin as legal currency payment. From china to Japan have adopt bitcoin as transaction for the future payment and give access to investor become crypto as best solution for investing assets.if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Not only the united state, but there is a bigger list of country who want to either ban or regulate bitcoin. you can find a wiki list here regarding the legality of bitcoin https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory . There are some country like China and India they where BTC is not banned but a different type of ban imposed while trying to trade BTC.
Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
United States always tries to have control over the rest of the world. Upon the same people believe that USA is trying to have control over bitcoin. The community isn't depended on the single country, the usage is spread all around. This means a single government's control can't make big impact over the entire market. if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Only united state country want to shut down and banned using bitcoin, there are still many bigger economic country want to adopt and altcoin as legal currency payment. From china to Japan have adopt bitcoin as transaction for the future payment and give access to investor become crypto as best solution for investing assets. if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
Trump always want to banned bitcoin as investment assets in their country and never give permission to bitcoin become legal as transaction and investment assets in United State, he want to make bitcoin gone in United State of America and many country do not use bitcoin for investing assets, he want to make investor never know with bitcoin currency and like for investing with USD money for every transaction and investment assets.
Yup, US president and other leader of country want to banned or eliminate bitcoin or crypto. they know that they didn't control it as long as people continue to use it. government don't have a huge benefit in crypto. that's why they want bitcoin to drop down. bitcoin is so very popular that even government had the pressure to remove it. so basically they don't want people uncontrol because of bitcoin era.
It will even be foolish of the US government to keep pressing to shut down bitcoin at this level that cryptocurrency has grown to because there are so many world's leaders that are beginning to even legalize bitcoin, like France, japan, Switzerland and the rest even though some of them are just on the verge of legalizing them.
Bitcoin cannot be killed by the United States alone, Bitcoin is controlled by all the people of the world,
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
if America tries to kill then kill us all, indeed I don't think why America hates bitcoin, even though China and Russia now support bitcoin
This is one of the old story, they have tried and they failed. There is no any government that can shut down bitcoin due to bitcoin proof of work, consensus, nodes, and miners that spread across the world. Now they just regulate it and watch over everyone who registered on exchanges, tax is one of the reasons they do that.
The government can ban bitcoin, exchanges, and miners, but they can't prohibit people using it under the radar, bitcoin is the money of freedom.
It is not an old story because I think they will keep trying but they will try different tactics, instead of destroying bitcoin they are trying now to create so many regulations that any normal person will be unable to deal with them slowing down adoption in the process, but while they may be successful in the short term with this strategy if their economies begin to go down you can be sure that people will begin to use bitcoin and will not care at all about their regulations. The government can ban bitcoin, exchanges, and miners, but they can't prohibit people using it under the radar, bitcoin is the money of freedom.
I think most countries do not like bitcoin and cryptocurrency. including the United States government. they don't like bitcoin and cryptocurrency because anonymous and unregulated cryptocurrency can be used for criminal acts such as drug trafficking and terrorist financing. and I think if now the United States government wants to stop bitcoin I think it's too late because bitcoin has grown rapidly and already has a lot of investors all over the world.
Even if they did ban the usage of Bitcoin still they cannot prohibit the people from using it, Bitcoin has an untraceable track which makes things more difficult for the government. The government is only against in Bitcoin and other cryptocurrencies simply because it is tough to regulate this type of currency, meaning this can be used in some notorious transaction that involves drugs, terrorism and more. Moreover, as long as people could get profit from Cryptocurrencies they will never stop utilizing this technology even if they declare it unconstitutional. Jump to: