Quote from: kro55 on May 22, 2024, 09:16:44 AM

Quote from: EarnOnVictor on May 22, 2024, 09:00:10 AM

Quote from: MarissaLopez on May 09, 2024, 12:36:04 PM

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.

You are correct about this, if it is a selective government clamping down on cryptocurrency, it will never be efficient and even the citizens and residents will be in that same country doing cryptocurrency...lol This is so possible with VPN and other ninja tools and they will never be able to suspect them not to mention of tracing them to face the law. Even in China, many people are doing cryptocurrency despite the tough stance of the government about it. This is to the point that early this year, China's central bank warned that hundreds of billions of USDT were transacted within a year, even as recently, an illegal underground banking operation transacting in the USDT was raided (https://www.theblock.co/post/294777/china-busts-1-9-billion-underground-banking-operation-using-usdt). Can you imagine? This means that a selective country clamping down on cryptocurrency cannot work but coordinated clamping down on it. This was what birthed my reply to the OP, even as he never mentioned a selective government but generalised them.