Mythbusting: Bitcoin can and will be shutdown by governments

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2 years ago

Bitcoin has no central authority

"No one owns the Bitcoin network, much like no one owns your wallet."

Bitcoin and other cryptocurrencies are decentralized designed to work in P2P transactions as a currency. It is decentralized which means it does not have central authority. Even developers has no power to control or manipulate the system.

Fiat currencies on the hand can be controlled by governments. They may use Central Banks to issue or destroy money easily using monetary policy. Governments may also dictate how you should transfer fiat currencies so that they can track the currency movement.

Since Bitcoin and other cryptocurrencies has no central authority, it poses threat to governments because they can't control it. This is why governments wants to shutdown Bitcoin and other cryptocurrencies as well.

Can government shutdown Bitcoin?

Governments may have the power to make it very difficult for every citizen to use Bitcoin and cryptocurrencies but it can never really pose a serious threat.

The first time federal prosecutor Kathryn Haun heard about Bitcoin was when someone asked her if she’d like to prosecute it.

The assistant U.S. attorney for the U.S. Department of Justice in San Francisco, who had previously focused on organized crime, prison gangs and murders, very quickly realized that wouldn’t be possible — that it would be like “trying to prosecute cash” -

Haun have also noted that,

“I don’t think the reason the government didn’t shut down bitcoin (previously) was because the blockchain is useful to the government. I think the reason is that the government realized they can’t shut down bitcoin. There’s simply no way. With these technologies, once the genie is out of the bottle you can’t put it back in.”

The government itself realized that there is nothing they can do to shutdown Bitcoin. They may try but they will always fail.

Two Impossible Possibilities

I will present the two unlikely possibilities that Bitcoin and other cryptocurrencies can be shutdown.

Miners Stop Mining

The backbone of Bitcoin and other cryptocurrencies are the nodes. They are computers spread around the world that confirms transactions and store in the blockchain. The blockchain is a long string of transactions, each of which refers to an earlier record in the chain. Every time you do a transaction, it will be broadcasted in the network and then will be on the hands of miners. Miners do the checks then they bundle this into a block and finally add it to the end of the Blockchain.

Miners play an important role here but I can't think of any reason that they will stop mining because they are earning here and governments can't stop every miner in the world to stop mining cryptocurrencies.

All governments in every country United and ban Bitcoin and other cryptocurrencies

We already have countries who have significantly adopted cryptocurrencies and have seen its beauty - decentralized.

We also have thousands of merchants accepting Bitcoin Cash payments from all over the world.

So, all countries to unite and ban cryptocurrencies?

No, that is highly unlikely because those (countries) who already adopted it were enjoying financial and technological benefits than those who banned it.

We have also the strongest thing - some people trust cryptocurrencies than central banks. Sooner, it will be realized by everyone!

Debunking the Myth "Bitcoin can and will be shutdown by governments"

Governments may ban Bitcoin and cryptocurrency activities in their country but it is impossible for them to destroy or shutdown Bitcoin and cryptocurrencies today or in the future. As time passes, people realize its value and worth.

But wait... I think there's one thing that can shutdown Bitcoin! It is BITCOIN CASH!

Meme credits to BeCashy

The very reason why governments can shutdown Bitcoin is because it is backed by Mathematics. Mathematics is just and the only way to counter it is through Mathematics.

Bitcoin Cash preserves Satoshi Nakamoto's orginal vision. It also backed by Mathematics but unlike Bitcoin, Bitcoin Cash is way more valued by merchants, customers and users because it is fast, cheap, and reliable. See why Bitcoin is not perfect for merchants.

With Bitcoin, you may be benefiting from profits but it doesn't really give you a lot of benefits.

Bitcoin Cash Offers

  • 16 Benefits to Users

1. For the first time in human history, Bitcoin Cash allows users to fully control their money. Bitcoin cash is an equal currency that cannot be frozen by banks or the US government.

2. With Bitcoin Cash, you don't need to trust anyone. Your funds are hosted in mathematics and cryptography, not in the hands of anyone.

3. Send or receive any amount of Bitcoin Cash, anyone, anywhere, instantly and almost free. There is no need to fill in lengthy bank forms, and neither the sender nor the receiver need to provide private information.

4. In the past, how many people lined up in banks every day wasted time. Bitcoin Cash saves millions of people every day in time and money.

5.Bitcoin cash helps connect billions of unbanked people and valuable expertise with the global economy, creating millions of new jobs and bringing economic growth to the entire world.

6. Bitcoin Cash supports micro-rewards, so you can write articles or create video content, and get rewards through your creations.

7. Bitcoin cash has high volatility, which may be both a plus and a minus, depending on how people view it.

8. Bitcoin Cash protects your purchasing power from inflation and hyperinflation, just like gold and silver because it exists outside fiat currencies and banking systems.

9. Unlike fiat currency, Bitcoin Cash cannot be counterfeited, so your chance of holding counterfeit currency is zero.

10. In the past, banks could legally confiscate depositors' funds at any time during the financial crisis, and users had no recourse. The bank's risk of door closure may not be able to recover the user's money, but Bitcoin Cash has a perfect record, online 24 hours a day, and has been doing so since 2009.

11. Bitcoin Cash has the privacy protection of CashShuffle and CashFusion. This means that you can fund money privately with anyone without revealing your private information, which is useful in situations where you want to donate to an organization and do not involve anyone.

12. Bitcoin Cash may prevent government corruption. Historically, like the US government, there has to be more or less corruption and exploitation of citizens' assets. And Bitcoin Cash lets you transfer your wealth to a safer place anytime, anywhere.

13. Bitcoin Cash allows you to bypass financial censorship, restrictions, and sanctions because it is a peer currency that cannot be restricted.

14.You can use bitcoin cash to pay for hotels, airline tickets, food, daily necessities and more.

15. Bitcoin Cash is a programmable currency that allows smart contracts, tokens, dividends, anonymous voting, and many previously impossible innovations. It's like the early days of the Internet age, where rapidly evolving technologies and crazy innovations often occurs.

16.Anyone can start an uncensorable crowd funding with

"Note 1-15 benefits is taken from ekrem's article and #16 is not"

  • 7 Benefits to Merchants

1. Bitcoin Cash transactions are instant and secure.

2. The risk of refund is almost zero.

3. Stop worrying about credit card fraud.

4. Never worry about centralized payment systems like PayPal freezing or stealing your money.

5. There is almost no transaction fee. As a merchant, you can receive the full amount paid by your customers.

6. Very easy to get started. Just install the wallet and the Bitcoin Cash Register app and you can start accepting Bitcoin Cash payments in minutes.

7. Bitcoin Cash will not treat any business differently. If a merchant runs a bank or an organization that the U.S. government may not like, funds may be confiscated at any time, just as funds used to help Iran may be confiscated at any time. Bitcoin cash cannot be taken away by banks or governments, as long as you don't allow it. - ekrem

Meme credit to MoreGainStrategies

Bitcoin Cash is growing and its benefits will soon be realized by the world. By that time, Bitcoin will die because there is substantial loss of beliefs and will no longer be valued - the same way fiat currencies dies.


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Avatar for sjbuendia
2 years ago


BCH is cool, I never knew what its advantages, Thanks for the info

$ 0.00
2 years ago

The coolest 😎

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2 years ago

I thought you will somehow somewhere mention war that can also destroy the crypto. Isn't it???

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2 years ago

mention war that can also destroy the crypto

Did war ever destroyed fiat currencies?

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2 years ago

I am saying about possibilities. Didn't you notice CAN ?

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2 years ago

Didn't you notice CAN ?

I do

I am saying about possibilities

That's why I asked 😉 If war has ever destroyed a fiat currency, there's a little chance that they can also destroy the use of crypto but not the crypto itself. Only little

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2 years ago

What if Btc die? Many cryptos will be affected as well right?

$ 0.05
2 years ago

Sa nakikita natin ngayon ganyan yung nangyayari especially sa price, sumusunod lang sa BTC. That is because BCH is not able to create its own network effect yet. Other cryptocurrencies will not be affected. Satoshi invented the Bitcoin to be an open software so anyone who is willing na gumawa ng changes diyan can do a fork, that is if kung madami ding miners na willing to run that new node

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2 years ago

Bch should find its way to remove its ties from btc. If it happens, for sure mas magiging happy ang bch community 😁😁

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2 years ago

True ate

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2 years ago

Hi! You got 10.000 Mythhunter tokens


Good luck!!

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2 years ago

Thanks Sofia 💚

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2 years ago