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Why can't governments stop cryptocurrencies?

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Many people believe that cryptocurrencies will never be accepted as a form of money because governments cannot pass laws prohibiting them and thus cannot control them, which means that they will not be adopted.

But the problem with these skeptics is that they ignore the actual consequences of banning cryptocurrencies on the ground and how they could rise backfired.
Why can't governments stop cryptocurrencies?
To answer this question, we provide an example of China and its 2017 intervention by the Chinese authorities and the banning of cryptocurrency trading platforms.

Many of these platforms have become compliant with the regulatory framework of the countries in which they operate.

But can cryptocurrency trading really stop?

The answer is no.

There are many solutions that have emerged in the Chinese arena and other areas around the world, especially in areas that prohibit trading.

There are P2P platforms such as Bitcoin or Telegram.
This means that government-sponsored currency conversion is easy and simple.

Once funds are transferred to any cryptocurrencies, geographical boundaries and legal regulations are meaningless.

Cryptocurrencies do not follow the set of international regulations, but that does not mean they live in chaos, but are based on blockchain that cannot be manipulated and decentralized.

In the sense that cryptocurrencies have laws like banknotes but decentralized.

What is the impact of China's cryptocurrency ban in 2017?
Beijing has been unable to ban the acquisition of encrypted digital assets, but it is almost impossible to track down those who own them. They have already understood this and have not even tried to look into it.

This is because of the design of cryptocurrencies that support privacy.

At the same time, despite China's ban on cryptocurrencies, the state has increasingly turned to blockchain technology.

Until President Xi Jinping announced that China should “seize the opportunity” created by blockchain technology last week.

And how blockchain technology will play an important role in the next round of technological innovation and industrial transformation.

This confirms the fact that Chinese citizens are still very active in the Crypto world even though the ban has been in place for over two years.

This does not mean that the prohibition of exchange operations has no effect at all but remains limited.

As noted, the only significant impact of the crypto ban is to push some traders to OTC platforms.

Can governments shut down these platforms as well?
It will be very difficult.

Two parties can meet anywhere in a cafe, for example, or a park bench, agree to each other's terms, exchange cryptocurrencies for cryptocurrencies, and switch between them smoothly and out of control.

This means that governments indirectly encourage the use of cryptocurrencies.

A country like Argentina, for example, imposes a huge 33% tax on international transactions, meaning that every time you want to use the banking system to get your money out of Argentina, the government takes about a third.

You may want to make an online purchase of an airline ticket from a foreign carrier.

Or maybe you just want to buy the latest smartphone not yet offered at local stores.

It doesn't matter if the money leaves Argentina, you are obliged to pay the tax.

Bitcoin and other cryptocurrencies thus become the best way to preserve the value of the property and remove it easily.

This means that the government should consider ways other than the big taxes on remittances.

Traditional government-controlled methods, whether besieging people with large sums of money at borders or through state banks, have become a thing of the past thanks to cryptocurrencies.

in the last:
No matter what governments do or do not do, we see that cryptocurrencies such as bitcoin are the only opportunity for citizens in these countries (China, Argentina, Brazil…) to protect their wealth and property.

Ultimately, it is argued that by imposing strict controls, governments can raise awareness of cryptocurrencies and make cryptocurrencies more popular.

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They used to stop cryptocurrencies due to personal reasons, and that they don't even have the chance to benefit for its transparent approach. Cryptocurrency transactions were can be traced, and I don't think government officials would prefer the volatility of crypto compared with regulated fiat economy. Decentralization prevents them because of visible corruption attempts may follow once implemented that using crypto will hinder their shady intentions in the end. Unlike paper money all motives can be hidden from person to person, so they can do it illegally.

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because they cant. its not possible to block users from a open source technology. but can be possible if make new law.

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2 minutes ago, kjames said:

because they cant. its not possible to block users from a open source technology. but can be possible if make new law.

Yes, they can't stop it because cryptocurrencies  do  not  obey  the  collection  of  international  regulations,  but  that  does  not  mean  that  they  exist  in  anarchy,  but  are  built  on  blockchain  that  can  not  be  exploited  and  decentralized.  

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1 hour ago, Smartxh said:

There are many reasons behind that, even the United States said Bitcoin can't be stop then I see no other government that will try to stop it

Some countries still not legalize the bitcoin and other cryptocurrency in their country but their national doing trading on this crypto market and not problem some of the big countries legalize the cryptocurrency in their country and their national doing trading with legal status and in hope in future all the countries legalize the cryptocurrency market in their country. 


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4 minutes ago, Shabbir81 said:

Some countries still not legalize the bitcoin and other cryptocurrency in their country but their national doing trading on this crypto market and not problem some of the big countries legalize the cryptocurrency in their country and their national doing trading with legal status and in hope in future all the countries legalize the cryptocurrency market in their country. 

It is because those countries that are still not legalize bitcoin are not favor on how bitcoin works. I mean they don't know what is happening to the cryptoworld and how the users interact to each other. However, they don't know that in cryptoworld, you are just like living in the real world.

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5 hours ago, Smartxh said:

There are many reasons behind that, even the United States said Bitcoin can't be stop then I see no other government that will try to stop it

Well this is hard to believe but the government is more afraid of people getting burned by scam ICO's and losing their life savings to a speculative shining bubble. That is where they are acting.They are not actively trying to kill crypto.They are waiting for most of them to fall flat on their own faces.

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Simply because it does not control it and cannot do anything to stop it, it will have to stop the Internet in order to stop it. This is impossible because there will be big problems in countries because of that.


THINK POSITIVE

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I don't believe that the government will never accept cryptocurrencies. Think of that why would the government need to stop it, if they can support, and implement it? I think they had a plan for the cryptocurrencies someday. 

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I think that they cannot stop cryptocurrency because that is not under there control and also some people want to use cryptocurrency as a part of their daily lives so no one can't stop it. O also believe that government doesn't have any power to crypto so they also have the rights to control it and to stop it.

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Government can't stop bitcoin because bitcoin is our civilization so therefore government can't stop civilization what I will be saying that government you should stop corruption not to store crypto currencies 

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Cryptocurrency cannot be prohibited due to the networks it uses are not in the government's control. They cannot put their hands into any transactions of it. Also, there are lots of way how to connect bitcoin in their currency. People will have its way to still enter the crypto.

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The governments understands that it is impossible to pour water against the wind and at the same time remain dry. They know that when the wind blows, you do not need to install a fence, but build a mill. We are dealing with a new technique. And stopping open source decentralized digital technology is simply not possible.

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There are a lot of reason why goverments can destroy crypto. For example in India- thiefs kidnapped man which hold bitcoin in 64 000 000$. After this india goverment made a lot of rights

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I think otherwise. Stronger governments can do whatever they want when bitcoin is a real threat. Right now they aspire to control it. They will use all their instruments. If you do not enter through the hoop, all your business is closed and you go to prison, period.

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That's why governments are having a hard time or still can't decide whether they will accept the use of cryptocurrency in their country because of it's strong security and untraceable transactions.

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I think that if the countries unite they will be able to stop the cryptocurrency, but it takes time and huge resources that no one is willing to spend

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They can not really stop is because it is not in their power and possession so and beside you can only control what you have not what you dont have assess to .

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Other countries tried to stop by banning those cryptocurrency but i think it is not possible to stop because of open source and they scattered in whole internet. 

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It is because cryptocurrency has a broad and wide system that no one can stop this, it runs through networks. If they want to stop it they are needing some advance tech7to mine all coins and buy it from the investors and delete it entirely from the web.

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14 minutes ago, okoro1212 said:

They can not really stop is because it is not in their power and possession so and beside you can only control what you have not what you dont have assess to .

I agree and how can they stop it when it's not violating any of the rules in their countries. Cryptocurrency is an online way to keep your money and it is not bringing harm to people so why stop it? 

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Cryptocurrencies are open source technology...so they cannot be stopped or banned by anyone..and also as long as their is internet their will be cryptocurrencies..hope this answer helps..

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Governments can't stop cryptocurrency because they are not in control of it, cryptocurrency are decentralize and they are digital cryptocurrency that is on the internet and can be use anywhere in the world without no one knowing.

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