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Topic: Why hasn't any government stopped Bitcoin? - page 9. (Read 36251 times)

member
Activity: 350
Merit: 10
February 08, 2018, 01:01:09 AM
At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.

For example, we can see japan. because, japan is one of the countries that legalize bitcoin as legal currency. And in fact, Bitcoin trading using the Japanese yen is the second most liquid after the US dollar. A study in Japan, "Nomura Instinet" projected Bitcoin could boost the country's economic growth. They say that bitcoin can increase the power of public spending.
newbie
Activity: 133
Merit: 0
initially, so many countries of the world kicked against bitcoin because its transactions cannot be taxed, many things was said against it but they cannot stop it based on the high technology it was formed and its popularity to the world of internet. but the good news is that many countries of the world are now accepting bitcoin because of its popularities and the good innovations it has brought to the global market many countries are now seen purpose and reason to have internet currencies and the benefits it has brought the global economy. but we are still hoping that many of the government will come out openly to declare the acceptance of bitcoin as a means of exchange in their country.
jr. member
Activity: 84
Merit: 8
At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seem to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.

Simply put, there is no agreement between governments, but they are no fools either. They certainly understand that banning Bitcoin in a specific country is not going to change a lot. They need a concerted effort, and things are starting to unfold in that direction already. So don't get deceived by this seemingly friendly attitude toward crypto from the powers that be. It will end as soon as they find a way to put a definitive end to the whole shebang. They would have done it long ago if they only could!
newbie
Activity: 37
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First of all, because it is very difficult to technically implement that control of the turnover of the cryptocurrency
full member
Activity: 258
Merit: 100
Bitcoin is a digital currency that provides users with unique anonymity capabilities. The Bitcoin payment system uses a cryptographic and decentralized register that is difficult to track.
Despite technical drawbacks, Bitcoin is a powerful tool for payments, funds transfer, microfinance. Bitcoin's secure P2P network provides new opportunities for financial technology and allows consumers to save money.
Apparently, in their cautious approach to the crypto currency, governments want to: objectively consider all the possibilities of the crypto currency;
evaluate business models that work with crypto currency;
monitor and analyze the market and develop a regulatory framework.
sr. member
Activity: 2422
Merit: 357
Actually. There are countries announced that they will accept bitcoin transactions and this would be a start for something great at the relationship of bitcoin and governments. The only thing i know that causes banning is the tax. Government maybe wants to tax the bitcoin holders but do not know where to start because of its anonimity.
newbie
Activity: 85
Merit: 0
The governments of many countries prohibit or tax the bitcoin for their own enrichment. Higher ranks in the government of many countries have a billion dollars in bitcoin.
member
Activity: 90
Merit: 10
The good thing I see why other government not stopped bitcoin is because of they see the great and big potential of bitcoin to help our society to start innovation and promote electronic system.
newbie
Activity: 85
Merit: 0
They all know that bitcoin is a decentralized currency. And that is maybe the reason why government never attack and stopped the bitcoin. 
legendary
Activity: 3346
Merit: 1352
Leading Crypto Sports Betting & Casino Platform
Government tried to stop bitcoin, however, it's not effective because there is no organisation or person to attack. No one controls bitcoin and the transaction is different with the regular financial institution. Like no one can stop a person to download an app or answer a forum like this.

It is not possible for the governments to ban the possession of Bitcoin, since it is decentralized. But the governments can harass the Bitcoin users, in the form of income tax notices and closure of exchanges where crypto-currencies can be traded. These measures are effective only up to a certain limit, as the Bitcoin users are a resilient lot and usually adjusts to the new settings in a short period of time.
member
Activity: 182
Merit: 12
Government tried to stop bitcoin, however, it's not effective because there is no organisation or person to attack. No one controls bitcoin and the transaction is different with the regular financial institution. Like no one can stop a person to download an app or answer a forum like this.
newbie
Activity: 1
Merit: 0
Do you think that Bitcoin will be banned in the USA? 
newbie
Activity: 10
Merit: 0
Because if they think 2 minutes, it's perfect for them : Their population takes the money from other countries to bring it to their country Wink

So why is bitcoin still legalkan in certain countries. this is a real industry we can make a living through the internet. and can also buy bitcoin currencies at cheap prices and sold when the price is expensive. this is a very lucrative investment.
hero member
Activity: 770
Merit: 629
(snipped to save space)

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.

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.


I used to think that too.  But I think otherwise now, and I'm quite pessimistic about this.

I'll tell you why.  I have two different vectors of why bitcoin and freedom from state will potentially fail.

The first one is that states will become extremely mean.  Although it is true that for the moment, we still enjoy some forms of freedom that allow us to communicate, write open source code and do computations on our on devices, that freedom is already under a menace.  Under the all-encompassing excuse of terrorism, we've already given up a lot of fundamental freedoms, and the "freedom to write code and do computations" is not guaranteed to stand a long time.  Indeed, it is sufficient that, as in the past, cryptographic calculations are simply forbidden without a license, and it is game over.  How could that be ?  Well, it is sufficient to say that terrorists use cryptography.  Yes, cryptography is useful, but I don't see how totalitarian states (all states are totalitarian apart from Switzerland) could be prevented from implementing this.  The UK already can imprison you if you don't give all your cryptographic keys upon demand.  They could simply ask you for all your cryptographic keys of your crypto currencies.  If you refuse or fail to comply, you will go to jail for 2 years.  In the UK.  After 2 years, they ask you again.  So the "freedom to write code and do calculations" was granted because nobody thought that one day, that freedom could be used against the state's authority.  With the advent of cryptography in general, and cryptocurrencies specially, they may change their minds.
States can also become mean in another way: they might consider that you can shift tokens as much as you can, but right at this moment, almost nobody has the slightest form of economic freedom.  In most western countries, economic exchange is forbidden, unless allowed, that is, you have to declare to do business, or you have to declare a working contract.  "doing something for someone else" is simply forbidden if you do not have a permission.  In France, it is even forbidden to help working in a house if it is not for a family member of less than 3 degrees.   You can help your parents, your children, your brother and sister.  But if you help your cousin, that's in principle illegal, because "black work".  You can do so, if you declare it, if you pay 50% or so taxes and social security on the *estimated market value* of it, even if not a penny changed hands.
The law prescribes that if you give me some math courses against bitcoin, I have to declare this, pay social security on this and so on, and you are not allowed to do so unless you've declared your activity.  For the moment, you can still do so, if you declare it.  But it is not difficult for the law to simply forbid activities if they are not paid in regular money, killing the very possibility of paying with crypto.  Without that possibility, crypto has absolutely no value, because you can't do anything with a crypto token.  I can imagine one having to declare, hour by hour, one's activities during the day and the night, so that it can be judged whether those activities do not generate economic value.  Of course you can consume, you can shop, you can enjoy leisure.  But you are strictly forbidden to do anything useful.  I wouldn't even be surprised that you are soon taxed, and have to ask for permission, to do something useful *for yourself*.  Maybe you are still allowed to read fiction ; but maybe learning, and reading non-fiction, will become taxable, because a potential investment in your own economic abilities, and hence, liable to economic production for yourself.  Maybe if you read a math book for an hour, you are taxed upon giving yourself a math course at the market price of an hour of math courses, because that's the value you've created. You would have the right to watch entertainment TV ; but if ever you looked at Wikipedia, you would have to pay for the time you try to educate yourself, as a "useful activity". You would have to declare, hour by hour, that you've done nothing of use during the day, except for those activities where you got a permission from, like being an employee.  Of course, in order to enforce such things, there would be the necessity of strict surveillance of what you are doing in your home, on your computer, and everything, and people would be randomly selected to be verified in their declarations, with all the in-house camera and other tracers of activity.  In such a world, it would not only be entirely forbidden to write open source code, which would be considered a forbidden useful activity, but of course, crypto cannot exist in any meaningful way.  In a horrible, resource-limited world which we are heading to, "useful economic activity" would be in general considered dangerous, unless strictly regulated, because potentially resource-consuming.  Actually, this would mostly be popular with the huge masses of extremely uneducated people that are entertained and are absolutely not capable of understanding anything else than the few "truths" they learned in "school".  Economic anarchists and terrorists that want to do useful things for themselves would be the culprit of everything that goes wrong.  You would get popular support for every measure that forbids people to do anything for themselves, and especially, instruct themselves.  Most probably, even learning to read would be a forbidden activity.

In other words, the very existence of the liberties we still have that allow us to write code and do calculations, are maybe under threat ; but even if they still leave us that, as we have no economic liberty at all without state permission, any economic exchange against crypto currencies can be killed off legally.  For the moment, that's not the case yet, but if pushed, states can be very mean - even western states like the UK and France.

But my second angle of pessimism is that I think that bitcoin has in it, an even much worse form of totalitarianism than human states.  I'm pretty convinced that, if not stopped by states earlier, crypto will take over most of finance.  I'm also convinced that machines will take over most of human intelligence.  If machines are now taking over crypto, they will dominate us in a way against which we don't have the slightest defence.  Crypto machine states are orders of magnitude worse than the meanest of human states.  I see smart contracts develop that are pyramid letter equivalents of hired murder: you get a fortune in crypto if you go and kill Mr or Ms X, and if you don't, you're the next on the list.  Oracle verifies whether you actually did so.  Smart contracts (that will be our intelligent machine states) will bribe politicians, company CEO etc... to do the things that fit in their plans, and eliminate those that resist wit a pyramid killer contract.  We will not know until it is too late.

I think crypto was the missing piece in the puzzle for the Singularity.  I always wondered how machines could take over command on earth with us humans letting us subjugate.  Now I know: through crypto.  Political decisions, taken by crypto-bribed puppets, following the strategies thought out by smart intelligent contracts deploying their own crypto currencies, acquiring the funds through smart trading and market manipulation by their own intelligence to fund their strategies, their procreation, their improvement, are unstoppable, decentralized, omnipresent and will end up being far more intelligent than any of us.  Not right now.  Several decades from now, for sure.  I don't know what such contracts will think of that funny notion of "human liberties".  Probably just as much as we think about "mosquito liberties".

So I'm not very optimistic for the future, but in fact, I prefer the demise of humanity through the singularity and with crypto.  At least, a new species will take over: smart machines.
newbie
Activity: 11
Merit: 0
The reason behind I see why does other government not stopped the company of bitcojn in their country is because of they see the great potential of bitcoins in the whole industry and has a bright and great future.  From this it is a nice thing since it will increase the demand and the bitcoin community.

This is a very good opinion. hopefully the government can cooperate with bitcoin industry in any country.
legendary
Activity: 1190
Merit: 1001
Because if they think 2 minutes, it's perfect for them : Their population takes the money from other countries to bring it to their country Wink
full member
Activity: 434
Merit: 100
The reason behind I see why does other government not stopped the company of bitcojn in their country is because of they see the great potential of bitcoins in the whole industry and has a bright and great future.  From this it is a nice thing since it will increase the demand and the bitcoin community.
newbie
Activity: 11
Merit: 0
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.
Its possible but this thing would really takes time for sure. Government can really impose those things on having a very very strict when it comes to their own fiat money but come to think off that people can easily convert those coins into another country which don't have much restrictions into crypto which means they can still convert into fiat indirectly without being noticed by its government itself. This is the fact that there were almost government do ban or prohibits bitcoin but there are still numbers who hadn't this kind of decision.

The decisive role in this  situation is also Human right, Wich  must be protected from Govermant.Everyone has constitutional right to make Entrepreneurial activities and dispose his funds as he/she wants and Goverment may get regulations wich will  determine balance between criminality and humans constitutional rights.Legislative and executive authorities are obliged to use only relevant Interference,wich will be defensive and this bans are not relevant,because Countries can use more liberal approaches.So,I think the best solution will be global regulations.

Principles of intellectual property:

1. Economic Principles
In economic principles, intellectual rights derive from the creative activities of the human mind that has benefits and economic value that will benefit the owner of the copyright.

2. The Principle of Justice
The principle of justice is a legal protection for the owner of an outcome of the intellectual ability, so has the power in the use of intellectual property rights to his work.
member
Activity: 672
Merit: 32

in developing countries bitcoin growth is too far from the original currency, I think it is very fast growth.
even in a big country also its growth is already very worrying of course for the government that issued the official money of the country.
most people worry about digital currency being the path of the rise of online fraud.

this is just my opinion that is seen from ordinary people and just learning. thank you
member
Activity: 630
Merit: 24
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.
Its possible but this thing would really takes time for sure. Government can really impose those things on having a very very strict when it comes to their own fiat money but come to think off that people can easily convert those coins into another country which don't have much restrictions into crypto which means they can still convert into fiat indirectly without being noticed by its government itself. This is the fact that there were almost government do ban or prohibits bitcoin but there are still numbers who hadn't this kind of decision.

The decisive role in this  situation is also Human right, Wich  must be protected from Govermant.Everyone has constitutional right to make Entrepreneurial activities and dispose his funds as he/she wants and Goverment may get regulations wich will  determine balance between criminality and humans constitutional rights.Legislative and executive authorities are obliged to use only relevant Interference,wich will be defensive and this bans are not relevant,because Countries can use more liberal approaches.So,I think the best solution will be global regulations.
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