Topic: Why government Don't kill btc? - page 4. (Read 1942 times)
The government cannot do killing bitcoin in the first place they have no control to it because it's decentralized, they can only enforce banned in other countries, but not worldwide. In other countries it may be seen as an opportunity for their citizens to help with their financial problems especially in times of crisis and pandemic.
Killing BTC can't happen in a straightforward way. It can only be killed "on paper" at this time, which won't achieve much.
However, to really kill it, the governments of the world will need to work together (which obviously isn't easy) AND do it as a process. Put lots of walls around it, slowly add regulations around it to squeeze out all value out of it and try to make it as unattractive as possible. Tax it higher, scare people, etc... So far, they don't seem to be having much success with those tactics, but it's reasonable that they will continue to try in all ways possible that do not make them hated by the public.
However, to really kill it, the governments of the world will need to work together (which obviously isn't easy) AND do it as a process. Put lots of walls around it, slowly add regulations around it to squeeze out all value out of it and try to make it as unattractive as possible. Tax it higher, scare people, etc... So far, they don't seem to be having much success with those tactics, but it's reasonable that they will continue to try in all ways possible that do not make them hated by the public.
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
Bitcoin is free non-gov stuff. People are allowed this freedom in the USA. Not only would it be against the law for Gov to stop it, but Gov doesn't have a method to stop it.
The only way to stop bitcoin is to shut down the Internet. This might happen. Trump might do it in his fight against Biden and the fraudulent voting machines.
Did you ever hear of Piratebox - https://piratebox.cc/? This is non-Internet communication that acts like Internet. There are others like it. We need to do this before the Internet is shut down by Gov.
I think the reason that governments don't kill Bitcoin is quite simple. They can't kill Bitcoin because it doesn't work that way. As we know, Bitcoin is a decentralized cryptocurrency. So, there is no such thing as "killing Bitcoin". If Bitcoin would be in control of the governments like fiat, then we could argue about it.
The government will never be able to kill Bitcoin because is not under the control of the government and if the government gives legitimacy then is very helpful to improve the economy of the country. Bitcoin is a very profitable investment not only for the government but also for the people. The government cannot control Bitcoin as is decentralized but if the whole world supports the government will accept and the world will go digital. The governments of many countries are legitimizing to improve their own country.
Bitcoin is a decentralized currency which is ready to help any government to reduce unemployment in the country. During the pandemic many people lost their job because of the virus that was spreading all over the country, that was causing killing of citizens and collapse of economy in the country . Government impose wearing of facemask and washing of hands to help people to prevent the virus that was affecting the citizens in the country. Many citizens use the bitcoin to sustain during the pandemic which was making other citizens who does not have idea on bitcoin, really experiencing the hardship in the country.
With the enough envidence the government saw with bitcoin, during the pandemic where other cryptocurrencies where reducing in the exchange market which was causing bitcoin a serious pumping through out the period. Government are ready to create more conducive for all bitcoin users in the country.
With the enough envidence the government saw with bitcoin, during the pandemic where other cryptocurrencies where reducing in the exchange market which was causing bitcoin a serious pumping through out the period. Government are ready to create more conducive for all bitcoin users in the country.
To kill a decentralized asset such as Bitcoin, the government agencies need to direct billions of USD into the mining sector, and even then it is not clear whether they would be able to perform a 51% attack or not. And with every passing week, the network hash rate is increasing and it becomes more and more difficult to perform such an operation. As of now, the authorities don't think that it is worth spending so much money and effort to kill BTC. Even if they kill BTC, another alternative will be created in a matter of few days. What they are going to do then? Repeat the same process again?
I think why the government didn't kill BTC, the answer is quite simple because BTC is unstoppable, unregulated and untraceable
The government must gradually adapt to this situation where BTC becomes a hive in society because of the need for more flexible transactions
The government must gradually adapt to this situation where BTC becomes a hive in society because of the need for more flexible transactions
Bitcoin is one of the digital currencies created by Satoshi Nakamoto. Bitcoin cannot be killed by anyone because bitcoin is loose and bitcoin cannot be controlled by the state or private companies.
They could stop it in a way although this will only get the demand higher and the prices bigger, they do not want their capitalist homies get angry because the masses are not enslaved to their bureaucratic cogwheel. They knew that stopping it in a blatant way will make the masses angry which could lead to something worse, they are in it for the long con, they want to cripple the market in a way that no one will pay attention to it at first glance which will be terminal once it is obvious. They also see the positive lights of bitcoin and I think they are more inclined to benefit from it rather than stopping it, this is just my speculation, the government might be indifferent to the surge. I guess government and hackers can kill Btc, but btc is still running and moving forward. It is also legal in most other developed countries so on the other hand, maybe they are also protecting it.. and I think as long as people have transactions, btc will continue to grow.
If government kills bitcoin, the future of digital currency goes down. They can't kill bitcoin because it is an open-source decentralised system. In short, no one controls its existence. They can shut it down by banning it from their countries but they won't stop people from using it. Bitcoin gives a future development in terms of currency. Our era has shown that globalisation and technological advancement adapted, bitcoin is one of the biggest inventions that promote global developments. Government cannot kill nor destroy its name, there are many people who tried to destroy btc yet most of them failed.
This is the reason why the government are making rules and regulations since they can't control the situation but the longer this Bitcoin exist the longer they will soon going to accept it. Although there are countries that isn't fond of accepting cryptocurrency on their land because they think this is a threat but they were too arrogant to just conclude everything without even trying to understand the concept of having Bitcoin.
The government in the future will definitely make applicable regulatory rules and gradually bitcoin will still be acquired by the government so this is still not guaranteed when in a situation like this, how the government understands blockchian really takes a long time to optimize it to the government, therefore the government does not can kill bitcoin even with many communities.Currently, the whole world is almost familiar with bitcoin, so one of the reasons why bitcoin is easy to develop is that the government still legalizes it in a country with a large community.
If only they could find the real creator of Bitcoin there might be a possibility and since Satoshi Nakamoto is nowhere to be found then stopping Bitcoin is almost to impossible. The only thing that the government could wish to eradicate Bitcoin is to stop the usage of it all over the world but that's also impossible to happen since every country has different opinions about Bitcoin.
And the worst case scenario would be a world war or chaos in every country. That for sure would stop the trading of Bitcoin because there's no internet to make a transaction.
Absolutely, since the cryptocurrency is decentralized, meaning there are no groups of people or any other organization that is taking care of this kind of digital money there is no such thing that it can be killed or stopped since the government doesn't know who creates cryptocurrency. The only thing that they can do is that they can regulate the usage or even ban it in their country but they cannot kill it by themselves. I hope there's such perfect understanding about cryptocurrency around the world that it is not a threat, instead, it is a good way of payment method and also an investment. And the worst case scenario would be a world war or chaos in every country. That for sure would stop the trading of Bitcoin because there's no internet to make a transaction.
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
Simply, because they won't kill bitcoin. Btc brought the changes in the history of transaction and payment. Imagine, a society wherein you can buy or sell products without holding a fiat currency. Government can't remove bitcoin because they don't know how to do it. Unless otherwise, they shutdown all of our internet connections. In fact, even the creator of bitcoin seems to be anonymous until now. So they have no power to reverse nor stop bitcoin from using it. Banning bitcoin would become an easy step but I know as time goes by, citizens of every country will see bitcoin as good. And government, can't do anything when people decides to use bitcoin. 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
No one has full control and has the ability to regulate Butcoin even the governy. This what makes Bitcoin what it is today. It all depends to the people who are either support and develop the internet currency. Since internet can be access anywhere, Bitcoin could be anywhere also. The only way to stop Bitcoin is to totally get out of the internet which is impossible since internet now is a necessity
No government can "kill" this technology, they can only prohibit its use in certain areas. But through exchanges, People do still manage to invest in areas wherein it is not "legal" through crypto exchanges but are having a hard time to convert it into fiat.
For the most part it is true that no government could kill the technology but the major problem i see is that the mining is centralized and if there is a collaboration of nations that has the most miners and they can shut that down then we might have a problem but i am not expecting that as the financial institutions started pouring in billions and the principle behind the idea is novel and hence implementing laws around it is the best option rather than stopping it.This is true. I once saw a post on the forum that says that people in some countries have been blocked from accessing any bitcoin related site (including this forum). But then, he was advised to change his IP address and I believe it worked for him. So if that's how they plan to stop bitcoin, then it won't work as people now know How To change their IP address.
For sure, the government already tried killing it so many times but unfortunately, they cannot do it and by that maybe they thought that instead of killing I why don't they embrace it, one thing that prevents them from accepting bitcoin or any cryptocurrency is the features of the bitcoin or the volatility which makes it so complicated for every person who doesn't have good knowledge about it and not all can afford computer/mobile phones and internet as well. If they will consider some unfortunate people then they would not agree for cryptocurrency to be accepted.
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
Any government and institution can never kill bitcoin. The government in my country has banned bitcoin, but there are still many people who store and use bitcoin. Even though the Binance exchange has been blocked, we can still trade our crypto assets using a VPN. 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
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
I think it is not like gold. In the case of gold, it was visible, and within the reach of the government and could be regulated or controlled by the government and also agencies but in the case of Bitcoin and its technology, It leave governement with no access towards controlling its flow and circulation. No doubts, it has eluded them and they can not comprhend it else they would have put a stop to it earlier.
Bitcoin is a digital currency that is ready to assist any government that need it in their country. The reason why government is doing everything possible to create a good environment for all BTC users, is because is helping the government to reduce unemployment in the country. Many government who think bitcoin is a scam currency that is making them not legalized bitcoin in their country, find it difficult to reduce economy challenges in their country because they fail to carry out some research concerning the digital currency which other countries are using to improve their economy in the country.
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