Topic: Banned bitcoin - page 2. (Read 2669 times)
The OP, Czechkid, is making a great point. It's important not to completely piss off government in the name of Bitcoin, because Governments and banks have power and power can make laws and influence business.
What if a country made it illegal for a business to accept payment in Bitcoin? Just like it would be illegal to accept cocaine or weed or a person for payment of some service.
If businesses can't transact in bitcoin, how much volume will we really have? And if people can only bitcoin to send money to people, how much value in the currency (the value of its utility) will be lost, and therefore drop the value as an investment?
What if some countries just simply ban bitcoin? To the point that its against the law to own it and use it.
Bitcoin is a deep Crypto cant be stooped by Trivial Rules, Gambling is Banned in US, do you think that people in US do not do Gambling? similarly BTC as being anonymous you can only make it hard to spend bitcoins , but you cant stop people using bitcoins. 
you cannot legitimately ban bitcoin.
unless you can do 51% attacks to monopolise all.
unless you can do 51% attacks to monopolise all.
It actually cannot be banned
True, they can only make it illegal.
It actually cannot be banned
I don't see a way to ban BTC, the internet as a whole. Even when Syria tried to firewall the whole country Anon managed to send pre-coded dial-up connections for activist to post to YouTube and Twitter. Nothing will stop a movement with enough backing, nothing...
A ban can only take full effect if they were to, as mentioned, ban the internet, -somehow- trace all the users of Bitcoin in their country and do whatever they see fit to prevent them from continuing to use it, and find some way to prevent any goods or services from changing hands using Bitcoin.
There is no real way to ban Bitcoin, as long as goods and services can be purchased.
There is no real way to ban Bitcoin, as long as goods and services can be purchased.
Bans look uncool. If a country wasn't into the idea all they have to do is strangle the fiat gateways. There'd still be a bit of activity but it would be greatly reduced.
All Bitcoin banning would do is driving the interest up as in people being curious about it and it would basically backfire on their initial intentions which were to scare people away from it, thats why Putin backpeddled and ended up accepting it after banning it.
Thats why they start to regulate it i guess
Countries like Bangladesh, Ecuador, Bolivia, Kyrgyzstan, Vietnam are afraid that their currency will devalue even faster if people would have choice to use Bitcoin.
Regulations can be separated into 2 categories: Japan type (bitcoin is free, unregulated by law and any economic standards) and China type regulations (financial institutions cannot use or involve themselves with bitcoins).
All Bitcoin banning would do is driving the interest up as in people being curious about it and it would basically backfire on their initial intentions which were to scare people away from it, thats why Putin backpeddled and ended up accepting it after banning it.
Thats why they start to regulate it i guess
Bitcoin owns his value to the users that agree that it is valued so. This is not illegal by any means, and do not think it could be banned.
What if some countries just simply ban bitcoin? To the point that its against the law to own it and use it.
can you ban internet?
you'll have to stop everyone from using the internet if you want to fully ban bitcoin.
Total ban of internet is reality in North Korea and China has some parts of the internet censored. Basically we are talking about all countries without democratic background here...
All Bitcoin banning would do is driving the interest up as in people being curious about it and it would basically backfire on their initial intentions which were to scare people away from it, thats why Putin backpeddled and ended up accepting it after banning it.
You mean just like many countries have banned piracy of music and movies?
We've all seen how that worked out. Same with technologies like Bitcoin. Old industries wish to hold on to their monopoly, but they're no longer relevant. It's not gonna make a difference. You can't stop technological development and advancement.
We've all seen how that worked out. Same with technologies like Bitcoin. Old industries wish to hold on to their monopoly, but they're no longer relevant. It's not gonna make a difference. You can't stop technological development and advancement.
Thank you, what about businesses not being able to accept it as a payment?
You mean just like many countries have banned piracy of music and movies?
We've all seen how that worked out. Same with technologies like Bitcoin. Old industries wish to hold on to their monopoly, but they're no longer relevant. It's not gonna make a difference. You can't stop technological development and advancement.
We've all seen how that worked out. Same with technologies like Bitcoin. Old industries wish to hold on to their monopoly, but they're no longer relevant. It's not gonna make a difference. You can't stop technological development and advancement.
I was asking what will happen if they ban it!! Not if its possible 
I get what you all mean but you get "punished" if caugh doing anything illegal...drugs, young drinking, killing etc...if they say using bitcoin in any form is illegal and can get fined or jailed than it will happend...so i ask again...what will happen to the price? It would also be harder to introduce it to a lot of new users.
Btw..if the goverment tells all internet providers to cut everyone off they will..or they destroy servers/satelites
Bitcoin is big and dangerous to powerful fiat people...anything can happen
Btw..if the goverment tells all internet providers to cut everyone off they will..or they destroy servers/satelites
Bitcoin is big and dangerous to powerful fiat people...anything can happen
Exactly, like someone has told above, can you ban Internet? This is a beauty of the blockchain technologies and Bitcoin, you cannot really ban them. I mean you can outlaw them and shake confidence of the investors a bit but the bottom line is that Bitcoin would exist and run even if all of the countries of this world ban it and this is why I am into Bitcoin, freedom at last!
They won't because they can't they will just make themselves look foolish and a joke to have a law so openly broken and unenforced.
What if some countries just simply ban bitcoin? To the point that its against the law to own it and use it.
Countries have also banned drugs and stuff. In the past alcohol was banned in the USA, but moonshining became big business..
They can't ban bitcoin.
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