Bitcoin slanders spend so much time thinking about ways by which this cryptocurrency would be shut down. Decentralized currency seems to be a huge threat to governments and central banks, but that is the main reason why it was created. Some large BTC transactions that have taken place recently clearly show that the coin wouldn’t shut down anytime soon.

There was post earlier this week on the theoretical way to shut Bitcoin down. It stated that if Government could keep Bitcoin price below $1,000, all holders will eventually lose hope and become extinct.

Governments could stop bitcoin pretty simply.



How?



Just short it. Keep it under $1000 for a long while, watch most people lose interest permanently. No need to bother with 51% attacks. https://t.co/5cUtFGPDvd — Alex Krüger (@krugermacro) November 19, 2019

‘Rhythm Trader’, also suggested some changes the government needs to make in order to relegate the need for decentralized currency. He claims governments should stop inflation, financial surveillance, artificial interest rates, deficit spending, fractional reserve banking and capital controls.

Some previous Bitcoin transactions clearly explain why the governments feel threatened and why they see the currency as unstoppable.

Governments could stop bitcoin pretty simply.



How?



Just stop the financial surveillance, inflation, artificial interest rates, deficit spending, fractional reserve banking and capital controls. — Rhythm (@Rhythmtrader) November 11, 2019

Firstly, in 2011, there was a transaction of 500,000 BTC worth $1.32 million by then, which is worth $4 billion currently. In 2013, another 195,000 BTC worth $150 million at that time was moved. Lastly, in September this year, a total of 94,500 BTC which is worth a billion dollars by then was sent.

No bank will allow an individual to conduct such huge transactions, unless the person owns that bank. All these huge amounts of money sent attracted minimal transaction fees; a little over $700. This is the more reason why banks do not like Bitcoin because it charges lower, hence they will lose profits.

Whales would always prefer to conduct such huge transactions using BTC because they wouldn’t be affected by governments or banks. Central authorities wouldn’t want people to have total control over their monies, but that is the more reason Bitcoin has come to stay.

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