Topic: Bitcoin cannot be banned (Read 1170 times)
The value of the Bitcoin network is increasing over time. It is value never goes down. It gains power bitcoin never sleeps increases value. It is driven by very general market dynamics. In this digital age, Bitcoin represents the transformation of personal value as an exchange. I think all the people in the world have accept it for financial freedom and sovereignty by providing it.
From my point of view, bitcoin can be banned and can be restrict in other countries from making transactions in bitcoin, but they cannot cease bitcoin because it is decentralized, which no one can control and manipulate it. That is why governments in other counteues only bans bitcoin from using it.
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tulipmania which is just a hype
It did contain the tulips which remain to this day and if planted will flower for decades meaning they are quite impressive plants. The reason some are so sceptical on Bitcoin is they barely accept technology as having a worth of its own, as in the usage and products of using technology not the physical circuits. Bitcoin is not a physical commodity but it is a software based one and its a new category to consider which some reject as being real at all.The price appreciation for BTC lasted much longer then tulips, relative to other value the flowers only had so much usage and eventually people chose to distribute the value elsewhere. BTC will have adjustments but the key point is whether it continues to have a future usage and demand behind its pricing.
Bitcoin trading, bitcoin exchanges, bitcoin usage and many other things that can be banned and isn't that enough to destroy the market? I mean if the governments come out tomorrow and tell you that you can't store bitcoin, you can't trade bitcoin, you can't spend bitcoin, doing anything with bitcoin is highly illegal and has 100k dollars punishment if you do it with no jail time, just money punishment. Would you continue to use it?
Obviously you can hide your bitcoins from the government and continue to live like that forever which is a fair option but at the same time there won't be many that will do it, I would probably hide it from the government and continue but 50%+ of the people who use crypto right now won't do it. Hence, I think banning is technically not possible but still could hurt the market if any country goes for it.
Obviously you can hide your bitcoins from the government and continue to live like that forever which is a fair option but at the same time there won't be many that will do it, I would probably hide it from the government and continue but 50%+ of the people who use crypto right now won't do it. Hence, I think banning is technically not possible but still could hurt the market if any country goes for it.
^^ Bitcoin is decentralized and it can never be ceased.
However, government can apply strong negative force on it and ban it indirectly. They can regulate mining or other activities that are vital for Bitcoin and paralyzed the network easily.
But the worldwide ban on cryptocurrencies isn't gonna happen as there are countries like Malta which have legalized cryptocurrencies and are safe harbor for many of the companies dealing in the cryptocurrency business. Also i agree with you on the fact that it is decentralized and can't be banned as there will always be people supporting the network and there isn't a central server holding all the information, anyone with a copy of complete blockchain can again start the network if something bad happens. However, government can apply strong negative force on it and ban it indirectly. They can regulate mining or other activities that are vital for Bitcoin and paralyzed the network easily.
indeed on the scale you provide, all that is true. Bitcoin cannot become a global currency due to large fluctuations, privacy, anonymous nature. so it is very difficult to entrust this to a country. and the weakest for currencies is, basic decentralized. this is the main reason that bitcoin does not qualify as a currency. and will continue to be a controversy in the future.
How is it possible that you believe that decentralization is a weakness for bitcoin when that is what it has allowed bitcoin to still be here 10 years after its creation? Satoshi knew very well that if he created a coin that was centralized then governments could destroy it as soon as they decided to do so as they have done with many services that do not abide by their rules, satoshi made bitcoin decentralized so no government, bank or any institution could kill it.already or even if they don't accept at least they
are not clearing this as illegal currency.there many countries now in which treating Bitcoin as their legal tender meaning
we already have this as transaction paying currency
.And being decentralized is not a bad approach because yeah there are some government that don't wanna put this in
to their economy but in future i know,they will understand what
this is all about.
By its nature Bitcoin is hard to ban. It's not part of any system, no regulatory body, it's independent and decentralized. To use it you basicly need only internet acess.
However, some governments may bring certain regulation that use of Bitcoin is illegal or prohibited but users will always find the way. Besides, I don't think there is any general intention to ban Bitcoin, just the opposite, ecept maybe in some countries that don't respect freedom, free economy and human rights.
However, some governments may bring certain regulation that use of Bitcoin is illegal or prohibited but users will always find the way. Besides, I don't think there is any general intention to ban Bitcoin, just the opposite, ecept maybe in some countries that don't respect freedom, free economy and human rights.
Bitcoin will never banned because it's a digital currency, Bitcoin is widely used in developed countries. but i don't know why Bitcoin has become a band in some countries. For example, i don't know why bitcoin is banned in Bangladesh. i think it should be introduced in Bangladesh. Bitcoin should be introduce not only Bangladesh but also in all countries where it's banned.
indeed on the scale you provide, all that is true. Bitcoin cannot become a global currency due to large fluctuations, privacy, anonymous nature. so it is very difficult to entrust this to a country. and the weakest for currencies is, basic decentralized. this is the main reason that bitcoin does not qualify as a currency. and will continue to be a controversy in the future.
How is it possible that you believe that decentralization is a weakness for bitcoin when that is what it has allowed bitcoin to still be here 10 years after its creation? Satoshi knew very well that if he created a coin that was centralized then governments could destroy it as soon as they decided to do so as they have done with many services that do not abide by their rules, satoshi made bitcoin decentralized so no government, bank or any institution could kill it. 
bitcoin help lot of traders in the world for selling their production and with fast with bitcoin whatever now or in the future . and bitcoin sign of science and exchange of opinion in trade and economy . and bitcoin in recent years have lot value in the economy ; i think no one will benefit for banning bitcoin
In my own personal opinion, bitcoin can be banned because even bitcoin is decentralized that it cannot be controlled. The government will still find a way for it will be shut down, that is why we should be careful with our actions, especially for those people who do scams because if this kind of scam activities in cryptocurrency was increased they would probably turn it down.
How they can shut down the bitcoin if they didn't know whos the owner of it? And in my opinion, even if they banned bitcoin maybe that is only a site of a bitcoin, like this forum, or online bitcoin stores and those bitcoin wallets will not accessible in their country they can ban the site but the bitcoin itself will never be banned. such as financing terrorism and money laundering, indeed bitcoin can never be banned, because this is decentralized,
there is no real owner of bitcoin, we are all owners !, so You know for sure that Bitcoin will always be there
In my own personal opinion, bitcoin can be banned because even bitcoin is decentralized that it cannot be controlled. The government will still find a way for it will be shut down, that is why we should be careful with our actions, especially for those people who do scams because if this kind of scam activities in cryptocurrency was increased they would probably turn it down.
How they can shut down the bitcoin if they didn't know whos the owner of it? And in my opinion, even if they banned bitcoin maybe that is only a site of a bitcoin, like this forum, or online bitcoin stores and those bitcoin wallets will not accessible in their country they can ban the site but the bitcoin itself will never be banned.
indeed on the scale you provide, all that is true. Bitcoin cannot become a global currency due to large fluctuations, privacy, anonymous nature. so it is very difficult to entrust this to a country. and the weakest for currencies is, basic decentralized. this is the main reason that bitcoin does not qualify as a currency. and will continue to be a controversy in the future.
An interesting read on the economics of Bitcoin:
https://www.unchained-capital.com/blog/bitcoin-cannot-be-banned
Excerpt.
The Progression of Denial & Stages of Grief
The skeptic’s narrative consistently shifts over time. Stage one of grief: bitcoin could never work – it is backed by nothing. It is nothing more than a present-day tulip mania. With each hype cycle, the value of bitcoin rises dramatically and is then followed by a correction. Often extolled as a crash by skeptics, bitcoin fails to die and in each instance, it finds support at levels higher than prior adoption waves. The tulip narrative becomes tired and the skeptics move on to more nuanced issues, re-anchoring the debate. Stage two of grief follows: bitcoin is flawed as a currency. It is too volatile to be money, or it is too slow to be a payments system, or it cannot scale to satisfy all the payments in the world, or it wastes energy. The list goes on. This second step is a progression of denial and it is a significant departure from the idea that bitcoin is nothing more than nothingness.
Bitcoin can and it will be banned by most governments around the world, what they cannot do is to enforce that ban since they do not have any control over the network, this will most likely happens because the economy of the world will stop growing and it will begin to contract and people will realize that the economic growth they supposedly experimented was felt only by the rich so even if bitcoin is illegal they will find a way to use it if it is of benefit to them. https://www.unchained-capital.com/blog/bitcoin-cannot-be-banned
Excerpt.
The Progression of Denial & Stages of Grief
The skeptic’s narrative consistently shifts over time. Stage one of grief: bitcoin could never work – it is backed by nothing. It is nothing more than a present-day tulip mania. With each hype cycle, the value of bitcoin rises dramatically and is then followed by a correction. Often extolled as a crash by skeptics, bitcoin fails to die and in each instance, it finds support at levels higher than prior adoption waves. The tulip narrative becomes tired and the skeptics move on to more nuanced issues, re-anchoring the debate. Stage two of grief follows: bitcoin is flawed as a currency. It is too volatile to be money, or it is too slow to be a payments system, or it cannot scale to satisfy all the payments in the world, or it wastes energy. The list goes on. This second step is a progression of denial and it is a significant departure from the idea that bitcoin is nothing more than nothingness.
The value of bitcoin comes from the people's faith that a decentralized currency is a better way for an alternative or probably could be the main currency.
However, a country could ban bitcoin to be used as a means of payments replacing fiat currency due to the government's power to rule the country, although not everyone will obey to regulations.
However, a country could ban bitcoin to be used as a means of payments replacing fiat currency due to the government's power to rule the country, although not everyone will obey to regulations.
In my own personal opinion, bitcoin can be banned because even bitcoin is decentralized that it cannot be controlled. The government will still find a way for it will be shutdown, that is why we should be careful with our actions, especially for those people who do scams because if this kind of scam activities in cryptocurrency was increased they would probably turn it down.
It is impossible to stop bitcoin which has a decentralized system, all transactions are recorded on the blockchain and anonym.
Except for just stopping its circulation through government regulations which in my opinion make no sense. But in my opinion, it doesn't limit how bitcoin can develop into bigger than it is today.
I agree I don't also think that bitcoin can stop, it can use online so anytime we can use it every time and everywhere we want even if the government will say that they are banning bitcoin to their country as long as it is accessible we can still use bitcoin. Unless all bitcoin sites in your country will be banned by your government including bitcointalk. Except for just stopping its circulation through government regulations which in my opinion make no sense. But in my opinion, it doesn't limit how bitcoin can develop into bigger than it is today.
It is impossible to stop bitcoin which has a decentralized system, all transactions are recorded on the blockchain and anonym.
Except for just stopping its circulation through government regulations which in my opinion make no sense. But in my opinion it doesn't limit how bitcoin can develop into bigger than it is today.
Yeah hard to stop infect it’s growing more and more with the passage of time. Now bitcoin is being accepted around the world. Few more countries have adopted bitcoin so I think it will be more strong. Bitcoin has a lot of supporters who are keeping it alive and it’s getting even more famous with time. Bitcoin price is also improving I am sure it will remain the same forever. Except for just stopping its circulation through government regulations which in my opinion make no sense. But in my opinion it doesn't limit how bitcoin can develop into bigger than it is today.
The reality now is that Bitcoin was banned on some countries but because of it's decentralization wherein people can use it anonymously so whether the government like it or not their citizens will find ways to be involve in crypto as long as they don't get caught. Even if the government don't give their full support, I'm pretty sure that Bitcoin will still exist because we have a huge crypto community that continuously use these technology.
Well, it's very basic that people will use the available choices that doesn't look like a good idea to them but technically not a bad idea for the government too. And it is using the anonymous surfing apps just to use their crypto besides, the government can't really ban any usage of cryptocurrency to the people, they can just ban the exchanges for trading it inside of their country.Yeah it sucks to hear that out but thats the sad reality yet regulation and law will always be ahead into anything.Banning services that do involves crypto/btc will
surely have that big effect on the entire crypto market.
The reality now is that Bitcoin was banned on some countries but because of it's decentralization wherein people can use it anonymously so whether the government like it or not their citizens will find ways to be involve in crypto as long as they don't get caught. Even if the government don't give their full support, I'm pretty sure that Bitcoin will still exist because we have a huge crypto community that continuously use these technology.
Well, it's very basic that people will use the available choices that doesn't look like a good idea to them but technically not a bad idea for the government too. And it is using the anonymous surfing apps just to use their crypto besides, the government can't really ban any usage of cryptocurrency to the people, they can just ban the exchanges for trading it inside of their country.Jump to: