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ahmed albasha

Why can't governments stop cryptocurrencies?

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They cannot stop nor ban cryptocurrecies in their countries, the only thing that they can do about cryptocurrency is to not adapt it in their countries which can cause big loss if ever something good happens with cryptocurrency. i think they will eventually accept it as time goes by because of the technology, crypto is super fit to the generation now because we are advancing really fast in technology.

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3 hours ago, Cryptominded said:

Satoshi Nakamoto is a genius, he deserves a Nobel Prize Award in Economic Sciences, but I would rather he stays in the shadows because they would surely come after him and they'll be unforgiving for his invention that handed power back to the people. 

I probably foresaw and I'm sure he would destroyed every evidences that could prove he invented Bitcoin even if he's still alive.

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when they won't be able to. the country's very unlikely to make sure you block out individuals in a clear cause solutions. still is practical any time earn cutting edge regularions.

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1 hour ago, Decrypt01 said:

Even the government make a law that prohibited the use of cryptocurrency, they can't still stop it. Why? Obviously because they don't have power to monitor their countrymen. They could stop it if they shutdown the internet. 

yes the only way to stop people from using crypto is stop the internet service all over the country. but they can't go a single day without internet. so they can't stop crypto in future aslo!


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8 minutes ago, Rafik said:

yes the only way to stop people from using crypto is stop the internet service all over the country. but they can't go a single day without internet. so they can't stop crypto in future aslo!

The internet was invented as a solution to breaks in communication in case of war and natural disasters and now it has evolved, stopping it is near impossible and a consensus for that would never be reached because it could bring some economies down.

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The cryptocurrency transactions in our country are completely illegal. More and more cryptocurrency transactions occur in every country. A country is legal and a country is illegal. The governments of different countries have expressed different differences

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Just now, Cryptominded said:

The internet was invented as a solution to breaks in communication in case of war and natural disasters and now it has evolved, stopping it is near impossible and a consensus for that would never be reached because it could bring some economies down.

We don't use internet only for crypto. A govt. needs to do a lot of things through internet.they often block the crypto sites but we can access by using proxy. 


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Cryptocurrency is a currency that no one one's and because of that the crypto is safe and can't be hacked or traced by someone and i guess government fear about that because they can't put a tax in every transactions in crypto.

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On 11/7/2019 at 4:08 AM, ahmed albasha said:

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.

Government cannot stop cryptocurrencies because cryptocurrencies is already supported by many people. Through cryptocurrencies many people are already using cryptocurrencies as their primary source of income. In cryptocurrencies someone can gain and earn so much money and can make their time and effort productive.

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Change is here, digital currencies exist. blockchain technology is real. the world that satoshi nakamoto author of the bitcoin white paper envisioned and others are building is an unstoppable force.

This goverment already tried to shutdown this crypto currency, but all have failed.

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Because they really can't. Although the government prohibits its citizens from using cryptocurrency. But crypto residents are smarter I think.

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  • Over the past decade, Bitcoin has gained attention not only from ordinary individuals but also governments around the world.
  • Some governments fear that Bitcoin can be used to circumvent capital controls, can be used for money laundering or illegal purchases, and could be risky to investors.
  • Still others have voiced more systemic concerns over the decentralized cryptocurrency's potential to destabilize or undermine the authority or control of central banks.

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I think, it's not legal in many countries. But they can't prevent users from open source technology to trade using BTC. 

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It is inconceivable in government to stop digital currencies despite the fact that crypto is generally spreading on the planet as use for exchanges either in fortunate or unfortunate circumstance , they have no entrance that cryptographic money can without much of a stretch stop.

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Ultimаtеly, it's fаr сontendеd thаt with the aid of fоrcing strict соntrols, govеrnmеnts can rаise mindfulnеss of cryptoсurrеnciеs and mаke cryptoсurrеnciеs ехtra widespreаd.

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Because the crypto networks are decentralized and of course the government cannot stop it because it is not centralized, besides that with all the communities that spread throughout the world it will certainly be difficult to block the development in each country.

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For me, the reason behind it is because they do not have full control of it. They can only minimize the usage of it in their country but they cannot stop it because of the users and moderators. The only way to stop it is; if people will stop using cryptocurrency.

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On 11/9/2019 at 10:38 PM, Mathers said:

I probably foresaw and I'm sure he would destroyed every evidences that could prove he invented Bitcoin even if he's still alive.

But why he did this? I think he feared about his project because it will assume a lot of money and there was a chance to people lose their money through his project. so he destroyed evidence.

 

Edited by Maricem

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As you refer in your topic that a China has been active in terms of crypto and with that note the higher chances of stopping crypto are totally impossible and if still there is a blockchain technology that allows us all human around the world to perform in a P2P platform. 

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Yоu may want to crеate a wеb purchasе оf аn plаne priсe tickеt from а оut оf doors prоvidеr.

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i don’t think that government has a say in shutting crypto world down. they are not in control with it so it’s impossible for them to stop the transactions in crypto market.

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On 11/7/2019 at 10:34 AM, ImACryp said:
On 11/7/2019 at 10:31 AM, kjames said:

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

 

On 11/7/2019 at 10:34 AM, ImACryp said:

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.  

In my opinion the government dont have a complete control on bitcoin they can implement a law to banned bitcoin but they cannot stop user to have an access to it. As we know we could easily bypass the website probition using a VPN and access bitcoin at anytime.


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Governmеnts cаn't hаlt сryptоcurrenсy in viеw that they're not in contrоl of it, cryptосurrenсy аre dеcеntrаlize and they arе advаncеd cryptoсurrenсy it's оn the nеt аnd сan be usе wherеver within thе globаl withоut nо persоn knоwing.

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I think the reason why government can't stop crypto because it is really hard to handle and there's a lot of problem to give attention to and they choose not to handle crypto

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On 11/6/2019 at 4:08 PM, ahmed albasha said:

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

Very good post.

I think that slowly some governments have became more smart about cryptoworld. China is one of them and it's taking control of the core technology, blockchain. 

Sure cryptocurrencies will be in the future of China, but with China's own cryptocurrency as the master one.

Edited by Ohmygoddess

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