Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Will always Survive
by
kro55
on 22/05/2024, 09:16:44 UTC
In conclusion since Bitcoin has survived such attacks from government
You are very wrong that Bitcoin has survived the attack from the government, if the government attacked Bitcoin, it would have been a different story today. I can assure you that if the world government attacks Bitcoin today, it will not survive and even all the decentralised mechanisms around it and sites/platforms related to it will all be pulled down. This is because there will be a total clampdown on it (Bitcoin) and all the businesses around it including exchange.

You can imagine how huge the panic selling of Bitcoin would be by then, and it will get to the level that you will not be able to sell your Bitcoins again because no one will be willing to buy it from you. It is not until this time that you can say "the government has attacked Bitcoin." Restricting, banning and finding ways to regular Bitcoin transactions for the sanity of the world is not an attack, only that you guys are not appreciative of what the government is doing, particularly for not clamping down on Bitcoin.

The story is different if we talk about one government or all the governments of the countries combined, because 1 or 2 governments will never be able to stop or destroy bitcoin because bitcoin is decentralized. If a country bans or seeks to eliminate bitcoin, miners will move to another country, like the Chinese government did with bitcoin, but things will become serious if governments join forces and attack bitcoin then surely bitcoin will be difficult to survive.

But I somewhat agree with you that many people are underestimating the power of government, if our government bans bitcoin then we will see how difficult it will be to use bitcoin. Many people do not see the power of the government because they come from countries that do not ban bitcoin, if someone is living in a country that bans bitcoin, they will feel the power of the government.