Topic: The U.S. Government Tried To Shut Down Bitcoin - page 9. (Read 1127 times)
It ought to be known that the market react to convenience and one other thing also acceptability. Bitcoin has been widely accepted over the 10 years of existence. the convenience it gives as compared to most brick and mortar financial products is yet another of its cutting edges.
It may not happen urgently, there are many registered business already in USA that are crypto or blockchain related. They will need to consider the damage it can be done once they shut it down. They can give rules, laws relating to crypto in their government but not to the point of not using or implementing it to those who are already into it. USA Investors and traders will sure can find a way to still use it even they will put restrictions.
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
I think we can expect hard regulation.Generally USA is nervous about dollar dominance so it is also affecting crypto
The U.S. Government would keep the running Bitcoin nodes as TOR. but it wont have mainstream acceptance. 3rd party service will take over. most people would care about performance & convenience over privacy and secuity. there will be small part of internet would use it but mostly for bypass govt.
Bitcoin can be an alternative financial and banking system and being not under the direct control of the government this will naturally attract a lot of opposition however Bitcoin has now grown to the point when it is already impossible to stop it technically and technologically. Yes, the government can instead institute regulations on its trading and the businesses that can sprout out of it but not directly on Bitcoin (and this is a welcomed move, by the way).
The way I am seeing it now, this is the reason why the government has to strongly opposed Libra because this is their opportunity now as Libra still has to publicly open its doors. Of course, we know that within the Bitcoin community a strong and critical number of us are also expressing strong dislike with Libra all because this is centralized and not really a real cryptocurrency (meaning on the same level as that of Bitcoin). Good for Bitcoin bad for Libra.
I don't know why they always scared with cryptocurrency.
Is it will killing fiat in the future?
Fiat is we know don't have any transparency. They make it without notice want make it.
If top company want make cryptocurrency.
That will centralized and so easy government broke it.
I don't believe government can shut down Bitcoin. Because that is decentralized. If your ip get blocked, there is bunch VPN ready give a seat to other country. There we can still use Bitcoin.
Is it will killing fiat in the future?
Fiat is we know don't have any transparency. They make it without notice want make it.
If top company want make cryptocurrency.
That will centralized and so easy government broke it.
I don't believe government can shut down Bitcoin. Because that is decentralized. If your ip get blocked, there is bunch VPN ready give a seat to other country. There we can still use Bitcoin.
see it from this side:
maybe bitcoin IS government created and the 1 million "lost" satoshi-coins are their backdoor, in case the experiment gets out of hand?
The government has always been against anything that opposes them or they don't have control over. That have been their number one problem with Bitcoin as BTC seeks to put power back in the hands of the people thanks to its decentralized nature. What's more? In a decade alone, Bitcoin has made significant progress in terms of adoption with hundreds if not thousands of people joining every month. Not to mention lotta retail stores currently accept bitcoin as a means of payment. We even have bitcoin ATMs across several countries.
No matter what they do, They can't stop the decentralization movement!
No matter what they do, They can't stop the decentralization movement!
It's super interesting how these negatively tinted articles always find their way to the net when the price has been trending down. 
One thing I like about Libra is how politicians of all levels used Bitcoin as benchmark to point out the difference between a decentralized crypto and Libra, a centralized shitcoin that's controlled by a corporation. It must feel great for any government to hammer down on these centralized tokens simply by subjecting them to regulations, something they can't force upon Bitcoin.
I am of believe that even Facebook should be allowed to create its own currency, but they have no option but to abide by the regulations within the countries they plan to operate in. Anyone supporting a free money market should be open to that, no matter how shitty it might look to you.
One thing I like about Libra is how politicians of all levels used Bitcoin as benchmark to point out the difference between a decentralized crypto and Libra, a centralized shitcoin that's controlled by a corporation. It must feel great for any government to hammer down on these centralized tokens simply by subjecting them to regulations, something they can't force upon Bitcoin.
I am of believe that even Facebook should be allowed to create its own currency, but they have no option but to abide by the regulations within the countries they plan to operate in. Anyone supporting a free money market should be open to that, no matter how shitty it might look to you.
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.
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.
see
https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#58419a821966
https://www.forbes.com/sites/billybambrough/2019/10/08/the-us-government-tried-to-shut-down-bitcoin/#58419a821966
Quote
Bitcoin conspiracy theorists have long suspected the U.S. government, among others, would like to shut down bitcoin.
Bitcoin's first decade has seen its price explode, making early adopters overnight millionaires, and prompting some of the world's biggest technology companies to create their own versions of bitcoin.
Now, it's been revealed federal prosecutor-turned bitcoin and cryptocurrency expert Katie Haun was asked to look into "shutting down" bitcoin by her boss at the U.S. attorney’s office in 2012.
"They said 'we have this perfect assignment for you'–there’s this thing called bitcoin and we need to investigate it," Haun told CNBC in a wide-ranging interview, adding a colleague asked her to take down bitcoin.
"That was the first time I’d ever heard of bitcoin."
Over the next few years Haun would go on to sit on the board of U.S. bitcoin and cryptocurrency exchange Coinbase and teach a class on cryptocurrency at Stanford Law School.
Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, "it would have been akin to saying ‘let’s go prosecute cash.'"
Haun, who is now the first female general partner at U.S. venture capital firm Andreessen Horowitz and co-heads its $350 million cryptocurrency fund, has worked closely with social media giant Facebook in development of its troubled libra cryptocurrency project.
U.S. government opposition to bitcoin and cryptocurrencies has become far more transparent since Donald Trump entered the White House.
Earlier this year, U.S. president Trump sent shockwaves throughout the bitcoin and cryptocurrency industry when he tweeted a vicious attack on Facebook's bitcoin rival plans, branding it and bitcoin "unregulated crypto assets."
Others in the U.S. government were quick to tow the line, with U.S. Treasury secretary Steven Mnuchin adding his voice to the assault on bitcoin, Facebook's planned Libra crypto project, and other cryptocurrencies, warning they pose a "national security" risk to the country.
Elsewhere, Apple chief executive Tim Cook has warned companies against creating their own cryptocurrencies.
"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."
Facebook's libra has been under fire over the last week, with internet payments company PayPal, one of the Libra Association's founding members, suddenly pulling out of the group on Friday.
Mark Zuckerberg, Facebook founder and chief executive, had hoped to work with global regulators to clear libra's path to launch in June 2020 but appears to have underestimated the level of opposition to the scheme.
Bitcoin's first decade has seen its price explode, making early adopters overnight millionaires, and prompting some of the world's biggest technology companies to create their own versions of bitcoin.
Now, it's been revealed federal prosecutor-turned bitcoin and cryptocurrency expert Katie Haun was asked to look into "shutting down" bitcoin by her boss at the U.S. attorney’s office in 2012.
"They said 'we have this perfect assignment for you'–there’s this thing called bitcoin and we need to investigate it," Haun told CNBC in a wide-ranging interview, adding a colleague asked her to take down bitcoin.
"That was the first time I’d ever heard of bitcoin."
Over the next few years Haun would go on to sit on the board of U.S. bitcoin and cryptocurrency exchange Coinbase and teach a class on cryptocurrency at Stanford Law School.
Any serious attempt made by the U.S. Department of Justice to shut down bitcoin inevitably came to naught, with Haun saying, "it would have been akin to saying ‘let’s go prosecute cash.'"
Haun, who is now the first female general partner at U.S. venture capital firm Andreessen Horowitz and co-heads its $350 million cryptocurrency fund, has worked closely with social media giant Facebook in development of its troubled libra cryptocurrency project.
U.S. government opposition to bitcoin and cryptocurrencies has become far more transparent since Donald Trump entered the White House.
Earlier this year, U.S. president Trump sent shockwaves throughout the bitcoin and cryptocurrency industry when he tweeted a vicious attack on Facebook's bitcoin rival plans, branding it and bitcoin "unregulated crypto assets."
Others in the U.S. government were quick to tow the line, with U.S. Treasury secretary Steven Mnuchin adding his voice to the assault on bitcoin, Facebook's planned Libra crypto project, and other cryptocurrencies, warning they pose a "national security" risk to the country.
Elsewhere, Apple chief executive Tim Cook has warned companies against creating their own cryptocurrencies.
"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."
Facebook's libra has been under fire over the last week, with internet payments company PayPal, one of the Libra Association's founding members, suddenly pulling out of the group on Friday.
Mark Zuckerberg, Facebook founder and chief executive, had hoped to work with global regulators to clear libra's path to launch in June 2020 but appears to have underestimated the level of opposition to the scheme.
Jump to: