Topic: Why hasn't any government stopped Bitcoin? - page 21. (Read 36255 times)

The government cant be reckless to make decision, becuase there are so many bitcoin user and the government realize that bitcoin had helped the people and bitcoin could possibly the future system for transaction, if they stopped bitcoin the country could possible being left behind by this technology

Because the average daily volume of the forex markets (currency trading) is $5.3 trillion USD, or well over 1,000 times the entire value of the bitcoin market. Bitcoin is an infinitesimal part of the economic system and no government is going to spend resources to stop it. Governments may try to restrict or regulate it, but it’s simply too small to try to stop.

true, but they can hinder the adoption, in many way, by stopping local exchange or closing your bank account, or saying shit like "I put you in jail if i caught you usign bitcoin", some country also do this actually

but i think it would be better for them if they embrance bitcoin, and regulate it like japan did, they would receive a better source of income via additional taxing

If you look at some facts that exist and the development of bitcoin more rapidly certainly not easy to stop the progress of bitcoin by any government for now. Even with the rise of some countries that declare legal bitcoin of course this will make bitcoin stronger.

You can't stop something that you can't control, put your hands on or restrict. Those countries which could maybe possibly somehow stop it will soon accept bitcoin.

The US Gov is already "regulating" it and it's exchanges.

[Suspicious link removed]j.com/articles/irs-crackdown-on-bitcoin-exchange-fuels-privacy-worries-1490623200

In China

http://www.zerohedge.com/news/2017-01-07/china-launches-bitcoin-crackdown-pboc-will-probe-investor-behavior-and-rectify-misbh

https://www.bloomberg.com/news/articles/2017-01-06/bitcoin-buyers-eye-beijing-nervously-as-prices-slide-from-record

Plenty of info all over Google.

While, they can't stop it, they can control it.

Gov's will use the blockchain and launch their own digital currencies. Use them, or else.

If you have the balls to break the law and use other coins go for it.

Bitcoin Never Stop. Then Government can not stop bitcoin because there don't have any control of bitcoin. Recently India give permission to bitcoin. from there bitcoin never stop and it will be usable every ware and every country.

If a country as advanced as USA and Russia technologically not leaving other countries like China or North Korea behind, could not over the years stopped bitcoin, then that sends a message to other countries that towing that path of destroying it is a waste of time rather they are now improvising by making the environment more difficult for users. And aside that they are now proposing their own crypto currencies its also a way to slow down bitcoin.

Depending on how you define "new world order" I agree.
Cypherpunks basically believe that through certain mechanisms and coding, the people
can be protected from institutions that have slowly become corrupted or malicious to
those that they originally represented or led. When fully established, many things that
we consider today to be normal, like privacy and certain rights, will be seen as suspicious,
not important, and if performed, worthy of imprisonment or torture. As technology
improves and evolves over time, it is inevitable that those improvements will be used
against the people to the point in which they will become no different than watched slaves
who shortly become guilty until proven innocent. At that time, humans will only exist to
perpetuate that future totalitarian system and their controller's power. Those humans will
never again have the ability to overthrow them and institute a free and fair government/
society. The belief of life, liberty, and pursuit of happiness will be a pipe dream.

Cypherpunks, IMO, are the last group of freedom fighters who have the capability
and means to prevent that potential future oppression from actualizing. They are the
final safety valve that releases from time to time to counter balance and prevent that
potential future. Bitcoin, in this light, is much bigger than just a financial instrument.
It is a form of redemption that the world will not fully understand until it is actually
needed. For example, in Venezuela, Bitcoin's true need and use has manifested
in our modern day. So, Bitcoin is already changing things and creating a better
tomorrow.




Simply, if the Miners reach a point where they have become fully corrupted or
compromised, the community can decide to change the Proof of Work algorithm
so that those entities can no longer directly influence the system. In this case, a
new PoW algo will be selected that is ASIC resistant and likely rotated with other
algos so that centralization of mining power becomes harder to perform in short
time frames. It will not be perfect, but it is highly acceptable over a Bitcoin blockchain
that is regulated, mandates blacklisting of certain coins, ID registering and tagging of
addresses, and any other restrictive or oppressive aspects you can dream up.

This will be performed by a hardfork, where the new protocol/chain will have this
new PoW algo. If governments take control of mining facilities, which is not far
fetched and very likely, especially in countries such as China, we will just flip them the
bird and leave them on the old chain with the old protocol. If Miners do not resists
governmental attempts at control or directly regulating their block work, and choose
to play ball with them, they have chosen their side and we no longer are bound to
preserve their financial investments. In fact, we will proudly brick those investments.

When Satoshi created decentralized mining with the dream of 1 CPU = 1 Vote, he
assumed that potential governmental attack vector was covered since it disbursed
the liabilities over the whole world and through hundreds to thousands of decentralized
individuals. Since that did not develop as he desired (centralization happened faster than
he thought possible), if Miners willingly (or unwillingly) become compromised today, we
just adapt and move forward without those compromised systems. We will then
participate on a free chain like today. If it happens again over time, we will just hardfork
again. The governments can keep trying to regulate ortake control, but ultimately it will
always be futile. As Bitcoin is designed, it must continually evade all forms of capture,
whether from internal parties or external ones.

Yes exactly, the biggest issue here is the centralisation of miners.
What can we do to avoid that? Everything has become so political in the Bitcoin world

How can we distance ourselves from being ruled by the miners and how can we protect the network from a 51%?
I miss the good old times when we were all united.

keep telling yourself that  

no centre of attack; so no core devs   no centralised mining pools   no centralised exchanges 

Thats so true, and besides bitcoin is the initiative of people who wants a decentralized system away from government control. All the the government can do is to regulate but I doubt if the can regulate 100%.

they already have pretty much, by regulating it.

bitcoin should have been indifferent to gov, kinda the whole point, but yeah now all these wannabes entrepreneurial types  have poisoned it enough to allow windows to regulate it.

If bitcion is legal in your country and the bitcoin can be withdrawn then people doing a job for bitcoin is actually bringing money from other country so it is good for the economy, once the government realize what is the good benefits of bitcoin being legal they will try to control it but as long as bitcoin is being anonymous and has an uncontrollable value then government will try to make some boundaries regarding of how it is being used. Maybe they're in the process of legalizing or making it illegal and they don't want to make some issues regarding it so it is not being announced and keeping it away from media.

Yes You are right the government can do any think. because there are find any think about bitcoin. bitcoin will be stop if the miner stop mining. but the are not possible. government only what happen and what will doing bitcoin. then new revelation in currency world.   

Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. Government can only use media as a weapon.

The issue about this legality is that it is getting clearer by the day and the government is wishing it to go away rather its popularity keeps on growing and that's where they have the concern on what they want to really do about it. The reason for the delay from my own view is largely due government yet to find a way to control it and them being preoccupied with more pressing needs to give bitcoin the needed attention.

Thank you very much for your answer, it is very inspiring and it is refreshing to see someone who believes in a new world order as a potential end game for the blockchain rather than an easy way to make a quick buck.It has been a while since I have seen someone mention the cypherpunk movement.

I have trouble understanding your point on leaving the miners behind by modifying the POW system. How would that go? This is for me the biggest vulnerability of bitcoin, a government taking over as it grows and challenge their supremacy and control over not only the currency system but the whole governance.
What can we do when we reach this point?

Yes You absolutely Right. your every point of view right. The government can't do any think. 

I think bitcoin has the right to flourish and is equivalent to fiat currency, because of its enormous functionality to the economy of its users in various countries.
Although currently only some countries that successfully adopted bitcoin but with these advances would have a positive impact on the development of bitcoin.
And the government has no right to stop bitcoin activity, because presence of bitcoin doesnt harm any party.