It has been quite some time now that the Cryptocurrency has taken over the world. One of the notable names in the cryptocurrency world is Bitcoin. The cryptocurrency system was initially established as an alternative financial system to the onescurrently run by our banks and Governments. You see, such economic arrangements are under complete control of the governments; your bank accounts can be shut down, monitored, or even frozen.
Although, this sort of atrocity is not possible with Bitcoin (because like all the other Crypto networks, Bitcoin is also independent of Government) unless crypto assets of Bitcoin are recorded on a crypto platform answerable to the Government.
Crypto experts have already begun to see a future where the Government may be able to halt Bitcoin’s popularity.
Lack of financial surveillance can cause Bitcoin to halt
The crypto expert @Rhythmtrader, suggested the idea since he has a strong belief that if Governments offers something better than Bitcoin, the people would gladly let go of Bitcoin. Something better as in –Lack of financial surveillance, eliminating capital controls with an end to inflation. As he states:
Just stop the financial surveillance, inflation, artificial interest rates, deficit spending, fractional reserve banking, and capital controls.
Bitcoin can be put a stop to if Governments short it
Yet another Crypto expert .i.e. Alex Kruger trusts in this philosophy that simply portrays that another easy way to put a stop to Bitcoin by the Government is that bitcoin investors lose interest in Bitcoin. Most of the Bitcoin community has high expectations from their Bitcoin yields, hoping to soon purchase their very own Mansions and other properties with there coins.
Thus, the expert believes that if reforms such as shortening the BTC for long-term and keeping its price range at $1000 or below, would help the crypto community to loose not just interest, but all their fancy hopes.
As Alex replied to @Rhythmtrader’s tweet stating that
Just short it. Keep it under $1000 for a long while, watch most people lose interest permanently. No need to bother with 51% attacks.
However, some Bitcoin experts negate these ideas stating that the Government does not necessarily need to stop such a global incentive. One of the experts, “Satoshi’s Disciple (B),” went as far as stating that Bitcoin one day achieve enough to be the backbone of the whole of the digital economy because of the enormous potential it beholds. He even mentioned that nothing could put a stop to bitcoin, not even Blockstream.
Bitcoin opens up so much new potential that cannot be achieved previously.
Micropayment economy for one example