Quote from: sapnu on February 23, 2019, 03:48:21 PM

Quote from: Abiky on January 23, 2019, 10:25:16 PM

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? Huh

There are actually so many reasons why bitcoin and other cryptocurrencies collapsed, one is because of the bull run that triggers so many holders and investors sell their holding of other crypto for them to have bigger profit. Also they said that big whales are holding buying and selling it every time that makes the price to collapse and dump so far.

With respect to Government itself, there's now way for cryptocurrency to collapse as long as fiat is concerned at all. The value of bitcoin depends also on how the fiat economy also circulates it's demand, that's why if government prohibits crypto; people can't transact freely. Freedom cannot be enjoyed when there's strong regulation and when government is going to crackdown crypto, they can't penetrate blockchain network so digital currency remains intact and safe. There's should be separation of government and crypto, that's why even if Government will try to demolish crypto people can still use the system without any barriers due to anonymousity.