Topic: Why government Don't kill btc? (Read 1942 times)
Destroying bitcoin is not in the government's hands. It's a decentralised currency and there is no one who can control it.
most governments are not governments like china or russia or many other dictatorship governments, no press freedoms or no freedoms for their people, so governments where there is good freedom and democracy and laws they just prefer to watch and see what impact will bitcoin have before they take steps like banning, because they can take advantage of that benefit of bitcoin, while intolerant governments rush to ban bitcoin or do things to restrict bitcoin usage
Governments doesn't have control over the market. As it operates decentralized, governments can view every transaction and not make any changes to it. This uniqueness of the blockchain technology is the success with bitcoin. As no one can evade into the blockchain technology governments weren't able to have control on the system.
I'm sure even though the government banned bitcoin but they buy bitcoin in secret because everyone knows bitcoin is one of the most valuable assets and can be stored for a long time and bitcoin is one of the very secret assets that no one else can know.
Yeah, I agree with you on this. Many of them buys Bitcoin in secret. Although, they try to control it, but unfortunate, Bitcoin operates on a decentralized system, it basically can't be controlled. So the government end up placing ban on it, however, despite banning it, people still trade with peer-to-peer. Which keeps Bitcoin on the moveIn fact in places where bitcoin is outright banned, prices rise significantly higher than elsewhere.
I'm sure even though the government banned bitcoin but they buy bitcoin in secret because everyone knows bitcoin is one of the most valuable assets and can be stored for a long time and bitcoin is one of the very secret assets that no one else can know.
Yeah, I agree with you on this. Many of them buys Bitcoin in secret. Although, they try to control it, but unfortunate, Bitcoin operates on a decentralized system, it basically can't be controlled. So the government end up placing ban on it, however, despite banning it, people still trade with peer-to-peer. Which keeps Bitcoin on the move
Why government cannot stop bitcoin?.. simply because they cannot do so, also because they seeing the advantage of it although for some it seem like a rivalry to the bank. Bitcoin is one separate system that they cannot control actually and so all they can do is either adapt or banned it, for some country they did it but for other they saw great potential in it and can help them raise the standard of their economy.
Because Bitcoin can also bring certain profits to the government and can be used as a way for the government to govern the country. If the government bans Bitcoin, it will cause certain turbulence in the financial market, which is not conducive to the development of the national economy.
Government can't control a decentralized community; they might manipulate us by spreading FUD to lose our trust and interest, but Bitcoin is like the blueprint in blockchain processes. So more projects based on cryptocurrencies will emerge, and BTC will stay the prime.
Recently, China has completely blocked Bitcoin. But banning Bitcoin in a country will not kill Bitcoin, because Bitcoin has countless nodes in the entire network, and it will never be completely banned unless all governments in the world completely block Bitcoin, but we all know that this is not may.
People may still run nodes secretly. And once Pos is activates, we won't have many nodes. BTC is decentralized, it can not be banned even if all government decides. It can die off if community lose trust in it.
Recently, China has completely blocked Bitcoin. But banning Bitcoin in a country will not kill Bitcoin, because Bitcoin has countless nodes in the entire network, and it will never be completely banned unless all governments in the world completely block Bitcoin, but we all know that this is not may.
What is Stopping?
Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Why would they ban btc?Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Think of bitcoin being intellectual property only difference is its owned by everyone of us but not the government.
The government is sometimes seen as the enemy because they try to put crypto 6feet under...which makes banning it impossible because it's not run like a website which can easily be pulled off the internet...no its a wide spread of computers that make it work and indistractable.
What is Stopping?
Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Do you think it is easy for them to kill it? Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Nah BTC is much more stronger technically. Have Governmens able to end everything they believe danger to them?
No. They can never kill BTC even if they want to.
What is Stopping?
Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
They also secretly bought bitcoin after dumping it but banning? you knew that this is impossible to happen because even they imply that yet they have no resources to make it 100% functional.Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Bitcoin secrecy can handle trading and transacting without government knowledge so whats the sense of banning this?
Most countries in the world are scrambling to regulate Bitcoin. Some countries, such as Bolivia, Egypt and Saudi Arabia, even try to ban it completely. The problem is, no matter what the regulators say, Bitcoin cannot be banned.
Because it is actually impossible to write laws to oppose an agreement that is far superior to human subjective legal systems. The government may "ban Bitcoin", but their people will continue to use it.
The Internet may be partially censored. Websites can be banned, and governments of dictatorships can even prohibit everyone from accessing the Internet. This is because the Internet still relies on ISP vendors and centralized servers that the government can control. Bitcoin is not banned. Because it relies on node decentralization, its distributed software has developed to the point where it cannot be shut down globally.
Because it is actually impossible to write laws to oppose an agreement that is far superior to human subjective legal systems. The government may "ban Bitcoin", but their people will continue to use it.
The Internet may be partially censored. Websites can be banned, and governments of dictatorships can even prohibit everyone from accessing the Internet. This is because the Internet still relies on ISP vendors and centralized servers that the government can control. Bitcoin is not banned. Because it relies on node decentralization, its distributed software has developed to the point where it cannot be shut down globally.
I'm sure even though the government banned bitcoin but they buy bitcoin in secret because everyone knows bitcoin is one of the most valuable assets and can be stored for a long time and bitcoin is one of the very secret assets that no one else can know.
bitcoin no one runs and controls so everyone can buy, sell, store without anyone else knowing.but if the government makes a clear prohibition even though it is not known, of course it is a violation where there is a binding sanction. any unlawful act is strongly discouraged to be carried out even with the aim of keeping it longer and waiting for the right time . every clear violation certainly makes us carried away with worry and fear.
From a technical point of view, it's okay to explicitly ban bitcoin transactions in a country. Bitcoin transactions do not depend on a centralized state, but on all the nodes of the Internet. The state can be regarded as the central authority and can stop its own transactions, but cannot stop other nodes from continuing to operate. From the perspective of interests: according to the attack of 51% computing power, it can hinder the correctness of the receiving data of other nodes. However, the cost of use is too large. I have asked the people in the mine, and based on the current block size, it would cost billions or even billions of dollars to tamper with the data. The cost and purpose are not proportional. And digital currency cannot be banned.
I'm sure even though the government banned bitcoin but they buy bitcoin in secret because everyone knows bitcoin is one of the most valuable assets and can be stored for a long time and bitcoin is one of the very secret assets that no one else can know.
Because they think that they are too big for bitcoin for them to bother doing something about bitcoin plus, they won't be able to do so because people will always resist authority if they find it oppressive.
Bitcoin is a plus point for them and also the reason to resist is that the government is currently improving the country’s economy through the use of blockchain technology has made digital transactions easier to use. So even though the government doesn't legalize bitcoin it thinks it's too big. What is Stopping?
Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
Why government Don't kill btc?
Why They protecting the btc?
Its Becouse They own Secretly btc?
Like They did with Gold in USA They banned Gold then They Secretly bought Gold in history
In general, I don't think they can "kill" Bitcoin or anything like that. They can only impose more and more restrictions and regulations and hope that people will lose interest in the crypto world.
And as for whether governments own part of Bitcoin, I don't think anyone can say for sure if that's the case and it will all be speculation, but I think it's entirely possible and normal.
Because it would be extremely time-consuming and expensive, and would require a lot of computing power, let's say the United States decides to ban Bitcoin altogether. But it is unrealistic for governments around the world to agree. Many big countries, including China and Russia, stand to benefit from the rise of Bitcoin and the loss of the dollar as the world's reserve currency. This could lead to an international stalemate, where the US and China are allocating resources to increase the hashing rate of the network and support different mining groups, which would actually make the Bitcoin network more secure.
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