Can The Government Shut Down Bitcoin?



In this video, I discuss whether the U.S. government (or any government) can shut down Bitcoin. While theoretically possible, it seems unlikely for the following …

28 Comments

  1. 🙂 I think you misunderstand how things are going to play out. The government doesn't have to ban bitcoin, governments will collectively be "encouraged" (ie it's going to happen) to outlaw any exchange of crypto as payment for anything. As soon as it then has no fungability, pretty much like it doesn't now, it will instantly be a worthless digital ledger entry collectivly shared by people who have a fascination with worthless things like odd shaped rocks :). But I know, people say "but history won't repeat itself"… ahhhhh but it will. Not being a hater, just giving you the 411 on what to expect from central banks at the point they decide to remove a huge amount of debt from the market. With an unlimited check book, come unlimited solutions to unlimited problems. Bitcoin is just another easily solvable problem for central banks. Could be a while though before they do it so hope whoever is in it makes huge bank and sets up their family for a long time. More power to you who get out in time. viva la resistance!!!! 🙂

  2. That is IF bitcoin was developed by individuals with good intentions.
    But IF say DARPA or a ROTHCHILD actually developed bitcoin with a kill switch – Then WHEN THEY PULL THE PLUG ON BITCOIN. They will brag SEE johnny punchclock should have stayed with the central bank now he has no home.

  3. ​ @Trader University what about if the government just targets all of the node servers? they are all massive server farms right? what if the FBI/ allied forces i.e. europe/ uk ban all of the farms? talking about weed and gold is different. weed and gold isnt connected to the system. The location of EVERY farm is easily identifiable from the internet service providers (ISP) surely? would take seconds for them to find the exactly location. and its not as if these are small/ easily movable or cheap set ups. once they get shut down once.. noone is gonna set another one up given how expensive server infrastructure is and how easily theyre found. 'the internet' is actually the biggest risk for btc. the internet is controlled by the government via ISP which is like 10 companies (uber centralised). pls let me know your thoughts.

  4. So it has a chance. But if the government/fed really wanted to eliminate a competitor they COULD. They have the balls to slam 2 planes into the center of NYC, start wars and orchestrate a world wide hoax pandemic ruining businesses across the board to usher in their communist world order, then yes they can easily knock off bitcoin.

    Yet, there is still a glimmer of chance if enough people hop in.

  5. its all a cycle, the history books are there. the romans, the British, the spaniards etc you get my point. they all were ruling above all until their day came, now its time for the us, its inevitable haha the way bitcoin its setup there's no escaping it

  6. Enjoyed this, thanks. One thought, if you had a perspective: with all this additionally money infused into the system by the Fed, doesn’t it actually help the US govt to let bitcoin value skyrocket given that ultimately, to spend that bitcoin, one would be paying a heavy “conversion fee” or something that would bring $$ back into the Fed? As in does growing bitcoin value provide an avenue to inject all this extra $ liquidity?

  7. If you had to guess about the reason most bitcoin investors in fact invest what would say their answers would be ?

    Alternative currency?
    Decentralized value store that is hard to attack ?
    …..or something else.

    Good point on the 33 gold seizure. I try to explain to people that their fear about bitcoin being attacked by the govt is no different than gold in that respect. Then I get a lecture about tulips………

  8. Channel is in fact addictive. My opinion is coherent flow on topic. Very a b c and so on. Helps people grasp and there is no flamboyant attitude. Refreshing. Voice is also very good for this topic.

  9. can BTC be gone tomarrow? im not talking about the price going to 0, im talking about blockchain been shut down by the people that created it?

    how can we get our money back then? do you think this will ever happen?

  10. Hi Matt – I like your channel, like your videos, but the question of government's potential role in killing BTC bothers me. I agree that if world governments couldn't coordinate over COVID, they are unlikely to do so over BTC. However, if the government killed BTC in some key countries with large populations and/or large hordes of the world's wealth (say US, UK & China), wouldn't that effectively kill BTC? Say the US government ordered Robinhood, Coinbase and any other platform they could to turn over all BTC assets to them (like they tried to do with gold in the 40's), I would imagine that would drive some trading underground, but that would also remove any chance of big money moving in from hedge funds, which would keep the price capped at best? Even progressive countries that wouldn't make it illegal, I would imagine huge funds in those countries might be gun shy about dumping in large sums of money into something so tightly scrutinized by other major countries. Curious your thoughts on how it gets to $1m in an environment like this without institutional money entering?

  11. With the stroke of a pen, and the creation of a U.S. digital dollar, U.S. lawmakers could make Bitcoin die a painful death by 2 trillion paper cuts.  That's the approximate number of U.S. dollars in circulation.  And, it would be backed by laws, courts, jails, police, and if that is not enough, soldiers, tanks, and bombers.  Treason, sedition, and subversion are serious matters.  Let the buyer beware!

  12. It's a pretty reliable indicator that Bitcoin is about to drop big time when you get these promotional "advertorials" and adstructional videos about how Bitcoin is going through the roof and how it is unassailable and safer than gold. Fair enough – good luck with that – but keep in mind that there is a core group of bitcoin holders that sponsor this kind of content in order to manipulate the public into buying it at the worst possible time. Bitcoin is like some kind of electronic multi-level marketing scheme, aka a pyramid scheme. Avoid it and avoid being fleeced.

  13. @Trader University I’ve watched all your videos about btc, but possibly missed it: What’s your thought of Crypto.com? They offer a interest if you invest and hold MCO in their account for 6 months and you get a debit card with cash back offers and also the app allows trading BTC as easily as Coinbase PRO, which I use today.

    I was under the impression that you could use the card for usual payments, but it would debit your BTC saldo… Maybe I misunderstood.

    I have been buying tranches of BTC now and getting a great average buy-in price!

  14. If the economy goes into a deeper recession which is more likely than not, we will not see an increase in Bitcoin by the end of 2020 how PlanB predicts. Traders will be moving their money out of bitcoin to ride out the recession. Where will the increase come from?

  15. You can shutdown bitcoin many ways you. 1. You grab majority of nodes. 2. You find exploit in software. Least likely. 3. You block traffic between nodes so can not mine crypto. 4. You redirect traffic from many node to central location. 5. You already can not run bitcoin as is it is unusable in mass. 6. If your comparing bitcoin to black market shadow economy that's ridiculous comparing, because even slaves, prostitution and child porn never stopped either. 7. Government controls the inflow of currency now in past didn't if governments control inflow having proof of ID to your deposit you now can know who, amount and time invested hence taxed in future. 8. Nsa, patriot act allows background isp sniffing of passwords making your encryption via remote logins shown. However government would likely double tax it like they do now until they make their government controled crypto version where you auto pay your government tax per transaction. Also how do you investers verify that they have this much bitcoin similar to gold never verified as holdings. Do investers ever have a key? No. Hence don't own anything other than a house of cards. Many individuals who have lost keys, forgot passwords, I never seen a trader prove such as proof of ownership like showing public key then doing a single transaction afterwords. Same with gold certify they are showing their holdings and not other people's gold. Like having 10 people saying they own the same piece of gold.

  16. Can't they do what they did to gold & silver at the comex and suppress price by derivative trading? Or manipulate by 'painting the tape'?

  17. The reality is that if the Government declares Bitcoin a form of US currency tampering it will carry the same penalties as slipping down to your basement to print $100 bills, etc. Unfortunately it is as simple as that. If you have to sneak around while always looking over your shoulder it might be the case that only criminals will still find it worth their while. It’s the world we live in.

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