Why hasn't any government stopped Bitcoin? - page 11.

Fatunad

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Quote from: Coffee135 on December 01, 2017, 06:15:57 AM

Quote from: skarais on December 01, 2017, 06:11:37 AM

Quote from: Sithara007 on November 30, 2017, 11:38:48 PM

The government hasn't banned Bitcoins because they are not capable of doing that. In order to ban the possession of Bitcoins, they need to shut down the entire internet (even then they will not be able to confiscate the coins from Bitcoin users). That is why intelligent governments (such as those in Japan) legalized Bitcoin.

although the legality of bitcoin in my country isn't yet official but so far there is no government ban on use of bitcoin, and in my opinion the government can't stop bitcoin activity easily except to disconnect internet connection and it seems that it is impossible because internet usage is needed to help various business activities or other financial transactions.

Physically governments can't stop bitcoin. They are powerless. But they can go the other way. They may prohibit banks to participate in transactions on the exchange of bitcoins for Fiat. Also the ban will also apply to the crediting of funds to cards from online exchanges. This can significantly reduce the demand for bitcoin.

This thing is possible for it to be implemented but how sure they are that those transactions are just being used to bitcoin? How they would differentiate a certain transactions either on legal or crypto engagement? For sure lots of things would be affected on such changes because not all the times we can assume that every transactions are engaging into crypto.

Coffee135

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Quote from: skarais on December 01, 2017, 06:11:37 AM

Quote from: Sithara007 on November 30, 2017, 11:38:48 PM

The government hasn't banned Bitcoins because they are not capable of doing that. In order to ban the possession of Bitcoins, they need to shut down the entire internet (even then they will not be able to confiscate the coins from Bitcoin users). That is why intelligent governments (such as those in Japan) legalized Bitcoin.

although the legality of bitcoin in my country isn't yet official but so far there is no government ban on use of bitcoin, and in my opinion the government can't stop bitcoin activity easily except to disconnect internet connection and it seems that it is impossible because internet usage is needed to help various business activities or other financial transactions.

Physically governments can't stop bitcoin. They are powerless. But they can go the other way. They may prohibit banks to participate in transactions on the exchange of bitcoins for Fiat. Also the ban will also apply to the crediting of funds to cards from online exchanges. This can significantly reduce the demand for bitcoin.

skarais

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Quote from: Sithara007 on November 30, 2017, 11:38:48 PM

The government hasn't banned Bitcoins because they are not capable of doing that. In order to ban the possession of Bitcoins, they need to shut down the entire internet (even then they will not be able to confiscate the coins from Bitcoin users). That is why intelligent governments (such as those in Japan) legalized Bitcoin.

although the legality of bitcoin in my country isn't yet official but so far there is no government ban on use of bitcoin, and in my opinion the government can't stop bitcoin activity easily except to disconnect internet connection and it seems that it is impossible because internet usage is needed to help various business activities or other financial transactions.

sukamasoto

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Quote from: Sithara007 on November 30, 2017, 11:38:48 PM

The government hasn't banned Bitcoins because they are not capable of doing that. In order to ban the possession of Bitcoins, they need to shut down the entire internet ...

It's not how it's work , government able to make regulation that people must obey.
My government said that on 2018, they will make a firm regulation for bitcoin because they afraid that bitcoin will be use for criminal activity such like money laundry,corruption,etc

Sithara007

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The government hasn't banned Bitcoins because they are not capable of doing that. In order to ban the possession of Bitcoins, they need to shut down the entire internet (even then they will not be able to confiscate the coins from Bitcoin users). That is why intelligent governments (such as those in Japan) legalized Bitcoin.

LightSide

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Actually in China and Morocco bitcoin related services has been shutdown and later a few prohibions appeared.

RodeoX

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Quote from: Kronos21 on November 30, 2017, 01:50:12 PM

You are wrong. In order to destroy bitcoin simply to strengthen governmental control over Fiat money. This is the weakest link in the chain of bitcoin. Now, there are no conditions to bitcoin existed independently. Every user is compelled to exchange their coins for Fiat. If banks are banned from such transactions then bitcoin will lose popularity.

I am not compelled to exchange for fiat. I don't want fiat so I only use bitcoin. If I can't get it for bitcoin then I don't need it. There is nothing that will change my spending habits now and I'm not asking for permission to use crypto, I'm telling the banks that I will.

Kronos21

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Quote from: carlfebz2 on November 30, 2017, 11:48:59 AM

Quote from: yojodojo21 on November 29, 2017, 07:58:56 PM

Bitcoin will not be stop by any government it's because of it's anonymity, bitcoin is like a good virus/malware that cannot be appreciated by government. russia , China, and any other country cannot fully erase bitcoin. If internet network exist then bitcoin will never stop existing and insisting to any protocols. Government will just waste their time trying their best to make bitcoin dissolved.

Its really possible for it to be stopped but would really require super quantum computers which we do know that it isn't available as of now and it would still take time for it to be invented which means bitcoin would able to still exist for longer years as of now.Government cant really do nothing on its existence and it cant be stopped this is why they do only impose laws on their vicinity regarding on the prohibition of using it but totally shutting it down it isn't possible.

You are wrong. In order to destroy bitcoin simply to strengthen governmental control over Fiat money. This is the weakest link in the chain of bitcoin. Now, there are no conditions to bitcoin existed independently. Every user is compelled to exchange their coins for Fiat. If banks are banned from such transactions then bitcoin will lose popularity.

carlfebz2

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Quote from: yojodojo21 on November 29, 2017, 07:58:56 PM

Bitcoin will not be stop by any government it's because of it's anonymity, bitcoin is like a good virus/malware that cannot be appreciated by government. russia , China, and any other country cannot fully erase bitcoin. If internet network exist then bitcoin will never stop existing and insisting to any protocols. Government will just waste their time trying their best to make bitcoin dissolved.

Its really possible for it to be stopped but would really require super quantum computers which we do know that it isn't available as of now and it would still take time for it to be invented which means bitcoin would able to still exist for longer years as of now.Government cant really do nothing on its existence and it cant be stopped this is why they do only impose laws on their vicinity regarding on the prohibition of using it but totally shutting it down it isn't possible.

ralf2018

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I suppose ,that there is nothing that can stop a government or central bank from banning bitcoin,becouse there is no single organisation or person that controls btc. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code.

HollywoodCoins

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This is very similar to the situation under the name "we cannot stop what is happening, so we must lead it "! Today everybody knows, the members of government prefer to store their financial savings in the Bitcoin currency.
In fact legislation is too slow, hard and complicated mechanism, what have to take into account the terms of consideration. Laws will never catch up the internet fresh ideas and new projekts which are born in the world of crypta.

yojodojo21

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Bitcoin will not be stop by any government it's because of it's anonymity, bitcoin is like a good virus/malware that cannot be appreciated by government. russia , China, and any other country cannot fully erase bitcoin. If internet network exist then bitcoin will never stop existing and insisting to any protocols. Government will just waste their time trying their best to make bitcoin dissolved.

Hordrick

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Because they are confused and yet do not know what to do, but soon the power will take bitcoin in their hands.

selectaselectine

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Maybe because that it beyond their control and they don't feel like focusing on it since many people can be benefited from Bitcoin. Plus, they can't stop it because it has already gained many users and it is not illegal.

wwdz99

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The state is only interested in their own narrow interests. You seriously think politicians care about your health and is therefore prohibited drugs? They are concerned about a large number of not controlled by people who do not benefit the country. For bitcoin they are also. Their concern is that thanks to bitcoin, people will be self-sufficient and the government will lose control over them. For government officials the bitcoin worse drugs.

Glaseseye

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Yes bitcoin is a new technology to improve the economic crisis that occurs in a country, the government can not also oppose it because the growth of their country also rose thanks to bitcoin. But the country is also confused because bitcoin is also widely used for other illegal things. I think it takes a new law to regulate bitcoin in that country

coat47

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A country can establish laws prohibiting the btc etc. But the problem it’s they put themselves on the sidelines of other countries. While they forbid, other countries are friendly altcoins and the companies are created, people are being hired. It’s good for the economy of the country. So did they want to come on board or missing out on important opportunities ?
But a government can't stop the btc because the btc, it's internet and you can't stop internet. Unless you cut electricity. So it’s impossible.

car01ine

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governments can't stop bitcoin with laws and people are also not able to understand why it should be illegal. It's not drugs, it doesn't beat anyone, it doesn't hurt anyone, so what could be the reason to prohibit it successfully?

mitchee

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They can't stop it because they don't know where to start. Trading is not illegal, Mining is not illegal, possession is not how are you suppose to stop it?

Trant

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They are not stopping bitcoin because nothing is illegal with it.
Bitcoin doesn't violate any existing laws.

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