Will governments try to kill bitcoin?

[Sincerem]

I feel it won't be possible to destroy crypto currency in this case Bitcoin because it anonymous and its ownership or system of the crypto currency cannot be traced and destroyed.

 

[Robust]

Yes, because in my country the government has ban any transaction that deals with cryptocurrencies in all the banks and the also the ban PayPal wallet in my country

 

[Sotherefore]

Nobody is trying to kill bitcoins because bitcoin's is not controlled by government organisation of this world , bitcoins solely depend on demand and supply except some countries has stop it from operating within their country.

 

[Ghost]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

Of course in my country attempt has been made to try and hinder cryptocurrency trading, but it's been futile. Currently banks are made to ban account of citizens who trades crypto

 

[Robust]

The government in a particular country can kill Bitcoin or cryptocurrencies entirely in there country but I do not think I can happen generally. So the government can only try to kill.

 

[Ononivami]

The regulatory framework that has been embarked upon by most of the region's is actually a major way at which the government would take total control of the cryptocurrency.

 

[Swazykid4all]

I don't think so, many government officials and law markers invest or store their money in Bitcoin so I don't see any law or government kicking against Bitcoin in their country. It's a general legal tender.

 

[tyrim88]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

No matter how any government try to see the issue of cryptocurency trading it cannot stop the activities of crypto,because it is decentralise,and at worst,what they can do is to stop their financial insttution from directly confirming payment through that channel.

 

[Nat]

Yes they would. They know that it is a threat to banks. More people wil stop using banks. Money will not be saved banks . No more loans taken. Bitcoin solve those limitations

 

[Imran_Noori]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

Absolutely governments will try to destroy Bitcoin because of their own benefits, they are trying to have a direct control on people and their economy, the only way to have control on your funds is BTC.

 

[Immilash]

A lot of countries has banned cryptocurrency with no good reason, I don't know why the government does that, but this is not appreciated by most people.

 

[Genie01]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

I honestly agree with you. Bitcoin kind of stiffles them of the privilages they obtain from the Monopoly on money. They have tried their possible best to see it extinct but it seem Bitcoin might continue to thrive regardless .

 

[Immilash]

Yes they would. They know that it is a threat to banks. More people wil stop using banks. Money will not be saved banks . No more loans taken. Bitcoin solve those limitations

Well that's true, but if we look at the other flip side of the coin, Banks do get alot of money by trading the financial market, they can earn a considerable amount of money doing that.

 

[tyrim88]

I honestly agree with you. Bitcoin kind of stiffles them of the privilages they obtain from the Monopoly on money. They have tried their possible best to see it extinct but it seem Bitcoin might continue to thrive regardless .

That is just the fact,because it will be very difficult for any government to ban the trading of bitcoin totally,because its trading is a global trade,it can be retricted due to the fact that they want to still have total control of the economy.

 

[Immilash]

That is just the fact,because it will be very difficult for any government to ban the trading of bitcoin totally,because its trading is a global trade,it can be retricted due to the fact that they want to still have total control of the economy.

You have a point there, but I think the government has banned the use of cryptocurrencies I don't know why the government have to do this.

 

[tyrim88]

You have a point there, but I think the government has banned the use of cryptocurrencies I don't know why the government have to do this.

A government can decide to impliment any financial laws that it deem fit for it's economy,but the reason why most government would want to ban cryptocurrency is because of the issue of control and regulations.

 

[Agbalagbaa]

No I don't think so, despite the fact my government has banned the use of cryptocurrencies but I don't think they'll try to kill Bitcoin, that's not happening.

 

[Danny4cash]

I don't government can kill bitcoin, even if they tried. Ordinarily, there is no point in government trying to kill bitcoin. Of the truth, bitcoin is bringing an end to government monopoly of money, but I don't think that it's enough reason for government to say they want to kill it.

 

[Immilash]

A government can decide to impliment any financial laws that it deem fit for it's economy,but the reason why most government would want to ban cryptocurrency is because of the issue of control and regulations.

That's true a lot of fraudlers are using cryptocurrency I think that's why the Nigerian government decide to ban the use of cryptocurrency in Nigeria, that's not a good idea.

 

[tyrim88]

That's true a lot of fraudlers are using cryptocurrency I think that's why the Nigerian government decide to ban the use of cryptocurrency in Nigeria, that's not a good idea.

That is really one of the main issues that made them to effect a ban, another one is that lots of persons are now removing their money from the banks and using it to do cryptocurrency trading.