The U.S. Government Tried To Shut Down Bitcoin - page 8.

dengpei

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Quote from: Google+ on October 10, 2019, 07:48:15 AM

I hope this is just fake news that usually often circulates on the internet when the price of bitcoin rises, traders must understand if this can be fake news and don't easily panic so you don't lose.
Market conditions are starting to improve so follow the flow and let's bring the price of bitcoin to the moon.

You are right there, there is a need to verify news before making a decision because we are in the era of fake news. Anyway even if the news is correct it can only affect the price of the coin for a while only and price correction happens soon after the news goes stale.

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I hope this is just fake news that usually often circulates on the internet when the price of bitcoin rises, traders must understand if this can be fake news and don't easily panic so you don't lose.
Market conditions are starting to improve so follow the flow and let's bring the price of bitcoin to the moon.

Strongkored

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Well, I'm not an US citizen, news like this will continue appear not only for US but also news from other countries that will say so, but what we see is only news from media not officially that has been conveyed by the government officially.
Those who continue to say about shut down BTC who only see the BTC from the price and also price fluctuating.

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Quote from: mu_enrico on October 10, 2019, 03:47:36 AM

If the US Government really tried, they would have used coercion tactics. They have done it in the past with gold (read Executive Order 6102).

At the moment, I think the US Government didn't see Bitcoin as a threat to their national interests.

Or they've decided bitcoin is actually a help to their national interests, in that it might undermine other fiat currencies but not the dollar.

Given the US-China rivalry and the fact that so many Chinese were using bitcoin to get their money out of China, the Americans might have concluded that bitcoin was an ideal tool to undermine the yuan and prevent it becoming a reserve currency.

audaciousbeing

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Of course. Its an open secret. Over the years several forms of currency have been promoted and they have found a way to shut it down. Liberty reserve comes to mind. What the man was made to go through and even plead guilty to some charges in his own widest dreams never thought exist but eventually he has to cave in. The irony here is that, its not only the US government, its every governments of the world that would have tried one thing or the other to shut down whatever that they feel will threaten the peaceful co-existence that they have come to enjoy and its that simple. I have read governments clamp down protesters, even their organisers slammed with treason for attempting to overthrow a sitting government how much more a currency that could whittle down government influence and there really no one to be held accountable. Shutting down becomes the best alternative.

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The U.S Government will never get a chance to shut down bitcoin because bitcoin is decentralized and there is no one that is controlling or managing the world of Bitcoin. It is a complete independent currency where people have the power to use it. Even the government orders a ban for using bitcoin, it will still not work because people can easily bypass that by using VPN.

mu_enrico

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If the US Government really tried, they would have used coercion tactics. They have done it in the past with gold (read Executive Order 6102).

At the moment, I think the US Government didn't see Bitcoin as a threat to their national interests.

magneto

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Is this surprising at all? We've long knew that governments around the world would start looking at trying to stop BTC from growing sooner or later, and it turned out that they had their eyes on that goal a lot sooner than people expected.

Of course, it's just not enforceable no matter what kind of bans they try to impose on BTC, because it is ultimately decentralised. Regulations and restrictions can only go as far as regulated exchanges and businesses go, and not to the actual blockchain ledger itself.

Quote

"What we heard with libra were the same criticisms [I'd first heard about bitcoin]" Haun said.

"They were just heightened and they got more attention because of the high-profile nature of the project and the fact that Facebook was involved. I think it would be a really dangerous thing, and frankly a dangerous precedent to start shutting down technology before it’s built."

The difference between BTC and Libra is decentralisation, which makes Libra easily prosecuted by governments, which will likely to happen. That's why I'm pessimistic on Libra's chances.

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Its very important to read the whole story before we can react on the article but given the fact that if its true I think it will be hard for the Government to shutdown Bitcoin, I should say its too late for them now that it is used accross continents. Its a myth that they can control this type of asset, only harsh regulations they can impose.

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Quote from: LeGaulois on October 09, 2019, 06:52:22 PM

Sorry guys but before you continue the discussion, can you please check the source, because Forbes says "The US tried to shut down Bitcoin", the source says "Meet the former prosecutor asked to investigate bitcoin who became the face of crypto VC investing"

True the White house was investigating (but like many others countries), both titles are differents, Forbes uses a clickbait title, the real news is about a lady who worked for the government and with her professional carrier she is now sitting as a partner at a VC firm with $350 millions in cryptocurrencies.

Here is the basic history. https://www.cnbc.com/2019/10/06/meet-the-former-prosecutor-who-became-the-face-of-crypto-vc-investing.html
An article to promote the lady...

I totally agree, the title is very misleading, I think the lady has move on after 2012 and obviously she really understand that there's no way that crypto couldn't be stop before. And now look at here, sitting on a VC firm with a lot of capital and she could really turn it into a billions with here experience. I guess this is just another example, how crappy and shitty are crypto journalist are (yes, I know we have been seeing this for years), but this one is very obvious so say the least.

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Sorry guys but before you continue the discussion, can you please check the source, because Forbes says "The US tried to shut down Bitcoin", the source says "Meet the former prosecutor asked to investigate bitcoin who became the face of crypto VC investing"

True the White house was investigating (but like many others countries), both titles are differents, Forbes uses a clickbait title, the real news is about a lady who worked for the government and with her professional carrier she is now sitting as a partner at a VC firm with $350 millions in cryptocurrencies.

Here is the basic history. https://www.cnbc.com/2019/10/06/meet-the-former-prosecutor-who-became-the-face-of-crypto-vc-investing.html
An article to promote the lady...

hatshepsut93

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If the US government seriously wanted to take action against Bitcoin, they would have done it. It wouldn't shut down Bitcoin, but it would hurt - we'd have less market liquidity, less services, less adoption.
But from what I see in this article, it was simply a wish of a few officials, and this idea never had any wide support. People often have simplistic view that a government is a monolith organization, but in fact it's just a group of people with often times different views when the government is more or less democratic. Most of the time when we get news about some government and Bitcoin, it's actually just a statement or opinion of some government official and not a government as a whole.

Searing

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Clueless!

https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#50c193671966

Considering this is just coming out from 7 years ago, what makes you think they have still not continuously been trying to kill Bitcoin/Crypto

since then and up to the present time anyway?

I suppose we will find out in another 7 years that this is an on-going attempt, year by year, anyway.

Brad

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Quote from: serjent05 on October 09, 2019, 12:22:18 PM

Can't see anywhere that US tried to shutdown Bitcoin on the article, I see it as plain interpretation or something like exaggerated writings to catch peoples attention.

The key word is "tried".

They investigated the possibility of legally shutting down bitcoin in 2012 (before it became mainstream) but probably realised that there was no legal mechanism to do it properly. But they "tried" in that they actually spent time checking whether they could do it.

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Quote from: Baby Dragon on October 09, 2019, 12:24:02 PM

Quote from: NathanJB on October 09, 2019, 06:57:03 AM

Well, if they failed in their earlier attempts, they will also fail in their subsequent attempts. If they are really determined to kill Bitcoin, they should have done it with much force when Bitcoin was a small infant in its crib. But because they failed on that and Bitcoin has grown into a strong young man after 10 years, they are admittedly helpless now. They are claiming Bitcoin to be unstoppable already.

And because of that they are now shifting their focus to unborn projects that might become as strong as Bitcoin in the future. Lest they will become as helpless as they are now over Bitcoin when they will allow the kinds of Libra to proceed. This is precisely the reason why unborn projects such as Libra, walmart's, Apple's, etc are nipped in the bud.

Well said, its because they don't have enough power to destroy bitcoin. Many of them had tried many times before and until now they keep on fighting for it despite of losing it. We can't read their minds and thoughts but I think there is a specific reason why they keep on doing it. Bitcoin had faced many challenges and issues before, I don't think that government officials can get rid of it easily. They are just putting themselves into a difficult situation, but we need to stay positive that it won't happen.

Even if they do strived to they wont really able to do such thing yet we know on how vast or big the community is when it comes to crypto market specially with Bitcoin.

I'm sure that they didn't expect for BTC to be this big into those earlier years when it was just starting.They do underestimate on how a decentralized currency can really be a exception piece of discovery and now it did become big and unstoppable. After all the years we have seen and government trying to suppress it down plus having those banning on other countries but still we do able to stand strong.

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Bitcoin in itself is designed to where it can't be shut down by any entities. The United States government has not tried to shut it down. If they can make money from something, you can bet they're going to. They don't like it simply because it's hard to keep track of who owns what to collect taxes on. That's why they've got Coinbase and others turning over user information to keep track of who has what. I honestly believe if they could track it easily and tax it just as easily, it wouldn't even be brought up within the government.

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Quote from: serjent05 on October 09, 2019, 12:22:18 PM

Can't see anywhere that US tried to shutdown Bitcoin on the article, I see it as plain interpretation or something like exaggerated writings to catch peoples attention.

That is most likely the case here. It appears that some federal prosecutor was asked to investigate bitcoin, but its the article writers who drew the conclusion that this was an attempt to shut it down. It is not clear to me exactly why this prosecutor was chosen to do the investigating, but I suppose it doesn't matter. That would be an extreme example of a fool's errand, and I think they realized this early on.

As regards 'shutting down bitcoin', how can anyone really expect a single country to eliminate a global currency? That is ludicrous to my mind, and this is nothing more than an inflammatory article written by simpletons with unknown motivations.

Quote from: Baby Dragon on October 09, 2019, 12:24:02 PM

Well said, its because they don't have enough power to destroy bitcoin.

No gov't truly does. Any country could pass laws restricting it's use, but there is no way to actually keep people from owning and using it. Maybe if the mining industry was severely cracked down on in multiple countries, there would be an effect, but then the miners would probably just move their operations to countries where it was still legal. There's no way to stop bitcoin.

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Quote from: NathanJB on October 09, 2019, 06:57:03 AM

Well, if they failed in their earlier attempts, they will also fail in their subsequent attempts. If they are really determined to kill Bitcoin, they should have done it with much force when Bitcoin was a small infant in its crib. But because they failed on that and Bitcoin has grown into a strong young man after 10 years, they are admittedly helpless now. They are claiming Bitcoin to be unstoppable already.

And because of that they are now shifting their focus to unborn projects that might become as strong as Bitcoin in the future. Lest they will become as helpless as they are now over Bitcoin when they will allow the kinds of Libra to proceed. This is precisely the reason why unborn projects such as Libra, walmart's, Apple's, etc are nipped in the bud.

Well said, its because they don't have enough power to destroy bitcoin. Many of them had tried many times before and until now they keep on fighting for it despite of losing it. We can't read their minds and thoughts but I think there is a specific reason why they keep on doing it. Bitcoin had faced many challenges and issues before, I don't think that government officials can get rid of it easily. They are just putting themselves into a difficult situation, but we need to stay positive that it won't happen.

serjent05

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Can't see anywhere that US tried to shutdown Bitcoin on the article, I see it as plain interpretation or something like exaggerated writings to catch peoples attention.

It is obvious that every government is hesitant of this trending digital currency called Bitcoin. It is also normal for every country to have a hostile initial reaction to something that they thought threaten their curriency's economic power. So this is actually no news. Resistance is expected but will soon be overcome by Bitcoin. Government will choose to coexist with it because of the possibility of benefits they can get if they adopt, adapt and utilize Bitcoin and the other cryptocurrency.

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Quote from: Pab on October 09, 2019, 10:55:36 AM

I don"t think it may happen.USA is very much unfriendly for blockchain and cryptocurrencies. It is enough to say that Circle move from from USA to offshore location.But ban bitcoin i think it is kind of talk.
I think we can expect hard regulation.Generally USA is nervous about dollar dominance so it is also affecting crypto

Every time they want to kill Bitcoin then they always fail, it's because Bitcoin is now so sturdy that it's difficult for anyone to kill it. If they want to kill Bitcoin, they should kill it when they are babies but it is very difficult because Bitcoin is supported by various parties who wants sophisticated technology that can make his life better, namely Blockchain.

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