The government cannot destroy itself because of the dispersion of Bitcoin. However, they can control and restrict the use of bitcoins within their jurisdiction.
For example, they can close the bank accounts of encrypted money companies, and they can prohibit the creation of any related business. If only a few countries ban encrypted currencies, the impact will be limited, because businesses will only move to more friendly jurisdictions.
This is exactly what happened after China banned its domestic order Exchange last year. Although it's almost certain that one or more governments will pursue Bitcoin in the same way, I think it's almost impossible to achieve a global ban. It's a different matter to assume that the United Nations will reach such a consensus.
In addition, Bitcoin is already legal in Japan. It would be very harmful if the United States, the European Union, the United Kingdom and China jointly banned encrypted currencies.
More likely, however, they regulate encrypted money markets to protect the interests of individual investors while collecting taxes.
Topic: Will Bitcoin collapse by a global government crackdown? - page 5. (Read 1605 times)
bitcoin has not experienced a collapse, bitcoin has only experienced market saturation which has resulted in prices falling, but what is happening now is that bitcoin has begun to crawl up, but this has shown evidence that bitcoin is not collapsing and in the future there will continue to be an increase.
All that is just nonsense and of course this is a game of global elites and the central government, which I know is that a lot of news wants to drop bitcoin, even though behind that there is interference from global governments, so they can supply so much bitcoin, because they know more about bitcoin and they have designed a plan to reduce prices in all markets in 2018 yesterday, so the point is they make a lot of people panic, so that everyone throws away the bitcoin and they wait for the moment they have designed as well as possible ...
Well, there's no doubt that governments control what happens in the mainstream world. While Bitcoin and most other cryptocurrencies are decentralized, many exchanges are most certainly not. Because of this, governments have some sort of power over the trading or exchange of cryptocurrencies around the world. If decentralized exchanges would've dominated the market, I'm sure that it'll become much more difficult for any government to try to stop Bitcoin. Of course, there's always the option of P2P or in-person trades. However, it'll never be the same as trading Bitcoin via exchanges.
Given how Blockchain technology as advanced, it's becoming more difficult for governments to gain control of any cryptocurrency we know and love today. Bitcoin being the most prominent cryptocurrency, is the largest Blockchain in terms of hashrate and user support. For Bitcoin to truly collapse by a global government crackdown, the whole Internet needs to collapse too (which is something nearly impossible).
Nonetheless, a good thing that has Bitcoin is that it's resilient, allowing it to survive many events in the real world. Just my opinion
I thought we discussed this thoroughly 7 years ago....
If indeed all countries will carry out rejection regulations, then clearly the value of bitcoin will be very cheap and will not even be worth it anymore because every country has banned activities with bitcoin.
Obviously bitcoin will die if all countries declare that bitcoin is illegal, because prices drop dramatically and nobody buys it. So the owner of bitcoin is the same as having something very cheap.This condition can occur if bitcoin is contrary to the state policy that has been set. Therefore, to avoid such things, bitcoin must adapt to state policies globally.
As such, what do you think will happen with Bitcoin if all the governments of the world ban it?
There is no possibility for ever government from around the world to place a ban on bitcoin or cryptocurrency. I'd you have been listening to the news you would find out that most countries are accepting bitcoin 
If there is no way to exchange Bitcoin into Fiat money then it would pretty much die. Most people buy bitcoins using fiat money in the first place only to resell to make a profit and turn back into fiat money. Bitcoin will unfortunatly always be tied up with Fiat money and that is the downfall of Bitcoin
I don't think it is going to die
As long as you can exchange Bitcoin directly for some good or service, it will have value. Ultimately, this is what the whole shebang is about, i.e. turning Bitcoin into a full-fledged currency in and of itself. If it becomes that, it won't need fiat. I could even go as far as to say that without fiat sticking around it would fare even better in that case (as a means of payment). Money is not bestowed on us by our financial gods (though you may still believe in Mammon) as it is created by us in pretty mundane ways with utilitarian purposes in mind
With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.
As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.
Nonetheless, what are your thoughts about this?
As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.
Nonetheless, what are your thoughts about this?
All that is just nonsense and of course this is a game of global elites and the central government, which I know is that a lot of news wants to drop bitcoin, even though behind that there is interference from global governments, so they can supply so much bitcoin, because they know more about bitcoin and they have designed a plan to reduce prices in all markets in 2018 yesterday, so the point is they make a lot of people panic, so that everyone throws away the bitcoin and they wait for the moment they have designed as well as possible ...
If there is no way to exchange Bitcoin into Fiat money then it would pretty much die. Most people buy bitcoins using fiat money in the first place only to resell to make a profit and turn back into fiat money. Bitcoin will unfortunatly always be tied up with Fiat money and that is the downfall of Bitcoin..
How can a government stop BITCOIN with digital or internet based.
Which anyone can use the coin without having its identity while drugs are being circulate all around the world but can't stop?
Peace is also an issue for every country which they can't get and then they will have unity in getting BTC banned?
Which anyone can use the coin without having its identity while drugs are being circulate all around the world but can't stop?
Peace is also an issue for every country which they can't get and then they will have unity in getting BTC banned?
A lot of large world states have already adopted cryptocurrency, therefore it is hardly possible to ban it by all states. However, if this happens, the cryptocurrency will be very bad. Due to the fact that on the Internet you can ban everything that will be connected with it,
it will be used only by a small group of enthusiasts who will no longer be able to raise it to the proper level. However, the prerequisites for such a global ban does not exist.
it will be used only by a small group of enthusiasts who will no longer be able to raise it to the proper level. However, the prerequisites for such a global ban does not exist.
An entire collapse due to a government crackdown? No! Just as there are some governments against Bitcoin, there also some governments in supports of Bitcoin. One of the advantages of decentralization is that no single body owns absolute control over the market, hence governments can only cause damage to Bitcoin to some extent but not entirely destroying it.
That's certainly true, mate. The outcome is likely impossible to happen, because many governments cannot reach an agreement. Thanks to Bitcoin's decentralized nature, it's hard to take the Blockchain system all by itself. It would've been much easier for Bitcoin and other cryptocurrencies to become disrupted by governments worldwide if they were centralized. In this sense, Ripple (XRP) has a huge risk of facing a global government crackdown because of its centralized nature. If Bitcoin becomes threated by governments, then people would simply use or support it via alternative networks such as Tor, or i2p.
Nonetheless, time will tell us what will truly happen with the regulatory stance of Bitcoin and other cryptocurrencies. If most governments remain friendly towards crypto, then there should be nothing to worry about. Just my thoughts
The possibility is much lower for a government to crackdown the bitcoin network because it is not centralized to any location in the world so unlike other large expanded organizations bitcoin cannot break down from a single strike and that is the main reason why it was able to survive during last couple of years facing many restrictions which is a bold significant quality in bitcoin network that comes with decentralization and blockchain technology
The government will not do that because if they cannot even stop corruption mhow can bitcoin be?Each governments has been fighting corruption for long time but yet theres always here.
But if this happens surely bitcoin will collapse in face of the legalization then after the illegal adoption will happen ,if they cant stop drugs in physical form,then what more bitcoin in virtual ?
But if this happens surely bitcoin will collapse in face of the legalization then after the illegal adoption will happen ,if they cant stop drugs in physical form,then what more bitcoin in virtual ?
Hey there’s no way government can be the death knell of bitcoins, as they cannot stop people from using bitcoins, at max they can ban it but people will always find ways to use it. If you’re not aware now governments are taxing bitcoins, and some have even made it a legal currency to earn more revenues from it. In many USA states you can pay off your taxes in crypto’s, which shows that government is going to adopt crypto’s not kill it.
Yes, the government can stop bitcoin, I am sure they can. But the problem is they need to shut down the internet connection in all of the world because bitcoin is connected with the internet. Although the government ban bitcoin, I am sure people will search another way to use bitcoin if they think bitcoin can bring more benefit to them. But I don't think that the government will stop bitcoin and I think they are thinking about what they can do with bitcoin
They don't need to shut down the Internet
In fact, they don't even need to ban Bitcoin directly as cracking down on major exchanges will suffice for bringing it down. It won't kill Bitcoin, not in the least, but that will make its use not worth it. Strictly speaking, Bitcoin is not a great threat to governments anyway (I mean major ones), so they don't need to do anything yet. But we can already assess the effect of such intervention by an example of ZCash. It was banned on a couple of important exchanges and now it is of no interest to anyone
I do not think so, being a decentralized currency and censorship-resistant, it is able to withstand even attacks by governments and continue its development.
Of course one of the main reason why bitcoin is decentralized and use blockchain technology is to withstand attacks from centralized organizations and also bitcoin cannot collapse entirely or in a large scale due to a single government crackdown and that is the main advantage of a decentralized system but with a significant restriction it can definitely do a big damage to the entire bitcoin system and its price because investors, traders and holders are very concern about government view towards bitcoin specially when comes to make decisions to sell, hold or buy so it won't collapse but there can be a huge damage
Government can stop bitcoin. The thing that can make bitcoin stop is community. If community think bitcoin is not secure anymore as store of value, people will leave bitcoin and not use it anymore. People always looking for security and government only can regulating
Yes, the government can stop bitcoin, I am sure they can. But the problem is they need to shut down the internet connection in all of the world because bitcoin is connected with the internet. Although the government ban bitcoin, I am sure people will search another way to use bitcoin if they think bitcoin can bring more benefit to them. But I don't think that the government will stop bitcoin and I think they are thinking about what they can do with bitcoin.
if in my personal opinion. bitcoin won't collapse bro. because so many people from around the world already love bitcoin. if the government globally joins to destroy bitcoin it is very likely that bitcoin will collapse. and I'm very sure that nothing will ever happen. bitcoin will always have a bright future.
I can't quite agree that cryptocurrencies are too big to fail now
As we already see them failing whether you like it or not. It doesn't mean that Bitcoin is necessarily going to fail (though who knows), but I definitely can't say the same in regard to the rest of cryptocurrencies, with probably only two exceptions, those being Litecoin and Dogecoin which seem to have real use. Further, it's been a decade since Bitcoin appeared but we don't see a lot of application yet. So how big will it be if we remove the speculative component from it?
As we already see them failing whether you like it or not. It doesn't mean that Bitcoin is necessarily going to fail (though who knows), but I definitely can't say the same in regard to the rest of cryptocurrencies, with probably only two exceptions, those being Litecoin and Dogecoin which seem to have real use. Further, it's been a decade since Bitcoin appeared but we don't see a lot of application yet. So how big will it be if we remove the speculative component from it?
Well, if you look at the infrastructure of most popular Blockchain projects (like BTC, ETH, DOGE, ...), you'll notice that they're still alive and running with numerous nodes and miners supporting them. I was referring that cryptocurrencies are too big to fail based on these facts. Of course, if we base ourselves on transaction activity, Dogecoin and Litecoin are widely used in the mainstream world. Even Dogecoin is being more used than Bitcoin Cash itself
That's not my point exactly
I don't deny these things as such but all this infrastructure will be useless if people stop using these currencies. Really, what's the purpose of miners if no one is sending transactions anyway? It is impossible to transact without miners, and they are required (as long as we use PoW), but they are definitely not everything which is required here and certainly not the most important pebble on the beach
Further, I didn't mean Bitcoin or Dogecoin (you can also add Litecoin to them) as these are likely the only coins which have real value backing them up and coming from real world use (e.g. Dogecoin being a coin of choice for gambling). On the other hand, I don't think of Bitcoin Cash or Ethereum as something worthy of investing long term (apart from aggressively short selling them on rebounds)
With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.
As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.
Nonetheless, what are your thoughts about this?
Basically Bitcoin can be used so easily because as long as we have internet access we will be able to use bitcoin. Some countries have indeed banned the use of Bitcoin, but everyone can still use Bitcoin because there is a lot of access that we can use. Actually the role of the government is very large in making a trust in the market, the Government will influence whether Bitcoin can be a commodity that is trusted or not. the role of the government is very vital, and if it is true that the government will ban Bitcoin it is evident that the decline in Bitcoin prices is just waiting for time. As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive? AFAIK, Bitcoin is largely dependent on nodes distributed geographically. The Internet is controlled by ISPs which are subject to government demands. If a global government crackdown happens, then the growth of Bitcoin and other cryptos might stale for sure.
Nonetheless, what are your thoughts about this?
If the government can effectively control the bitcoin, it will going to collapse but I doubt if all governments will agree to the idea of banning the bitcoin globally. A group of countries called G20 are planning to impose a global regulations instead of banning to counter mney laundering, terrorism and other crimes that uses cryptocurrencies. These moves by the governments will prove that they not going to make crackdown on cryptocurrencies because according to them crypto is important for global ecobomy.
Jump to: