Topic: Bitcoin will be banned ?? - page 2. (Read 3998 times)

Bitcoins despite of being secure and good are banned in few countries and declared illegal. In taiwan, recently bitcoins were banned and their use was declared illegal. The reasons behind it is that people are using it for gambling, and kidnapping and ransom asking to pay huge amounts in bitcoins. As there's no official community to look after bitcoins. Countries don't have any other option but to ban bitcoins.

If the bitcoin is banned in one country, but flourishes in another country, gives many benefits there. The country becomes more efficient and people liver a better life. The bitcoin will be unbanned in the first country.

Well I agree with what he's saying, I've said it myself a long time ago. If Bitcoin continues to try and be a two-faced rebel that uses existing infrastructures to proliferate while saying no to government control, it runs the risk of being stomped out. Bitcoin needs to make some concessions at some point, when it comes to regulations, if it is to assume a permanent position within the world economy.

Yep that is totally true. People will still do cash transactions via localbitcoins in countries that have banned bitcoins.

This scenario is not impossible, and we have seen some governments pushing back against it, but the reality is, Bitcoin opened up a whole new global financial opportunity and it kept up with the changing needs of the people. We will see a lot more from this Blockchain type technologies doing the rounds.

Bitcoin will get regulated a lot more and it will fill a need in the financial world, but with time, and if it does not change to become government friendly, it will be replaced with a Blockchain replacement that adapted to the government needs. 

Bitcoin is completely out of reach from government act. No government can directly ban the bitcoin. They may ban only the fiat converting services. Nothing else would be possible for any government as bitcoin is a decentralized it is not possible to shut down all the computers and Internet.

Yea i wouldn't call it defenseless either, lets say more of skeptical about what it could offer then and who will become the main holders of bitcoin, I'm sure the government could buy out bitcoin at a 100 billion marketcap if they want to just try and hold power over it.

I wouldn't call government defenseless, they can make our lives hell. Maybe not destroy bitcoin completely but ostracize it so much that we would be better without it.
Simple regulations to bitcoin business will be enough to make bitcoin really hard to use.

The way i see it, all governments can do is to slow down bitcoin's price with bad regulations and bans, but when it comes down to shutting bitcoin down - they are defenceless.
I usually just ignore every statement people who are bias make; it's only natural that they are trying to fight bitcoin off, but they will fail in doing so either way.

Well, good thing bitcoin doesn't need support from governments then.

EDIT:  I smell fear and jealously of the unknown.

Besides, doesn't he know what's already happened?  Nearly every government in the world has already setup a committee to investigate bitcoin, and ways to regulate it.  In the majority of cases, it resulted in a shoulder shrug, and nothing was done.  After looking into it, they realized it's impossible to regulate.  They can regulate the fiat transactions within exchanges I guess, but that's about it.

Bitcoin will never be banned unless the authorities around the world work together. Even so, it would take more than a decade to take down the whole network. Thus, instead of preventing Bitcoin, I think governments around the world will accept Bitcoin.

Of course, that can't be the only way (you can mine with GPU after all). And you said it yourself, it's easy if you ban acceptance in stores.
It wouldn't kill it but it would hurt it pretty bad if they chose to do it early enough.
I think they are still thinking about what to do at the moment.

Even if they regulated the manufacturing of this hardware miners, you would only value the current market more, for there is over 1/2 of the possible BTC out on the market already.  The only way to stop this currency from existing would be to have all vendors stop accepting the currency as payment.  There are so many countries and jurisdictions that do not consider BTC a currency, so until they classify it under some form of currency, it can still be accepted as trade.  Come on now, the US government sold off at auction how many thousands of seized BTC.  If they would have accepted it as currency, they would have just traded it in for cash like they do with all the drug money they collect on sieges.

This guy is full of himself.  There is no way that one man is going to stop this from continuing.  As big as bitcoin is at this time, there needs to be some catastrophic change in the financial market that will stop people from using Bitcoin.  If all vendors out there stop taking bitcoin for payment, then it is possible that a small crash could occur, but Bitcoin will survive the damage.  As long as everyone does their part and support BTC in one way or another, BTC will just keep getting  bigger and bigger until it stabilizes.

You can't completely stop Bitcoin, but governments could hurt it very bad ! Just cut all the exchanges off, regulate the manufacturing and sells of ASICS in SHA256 (as said above). They totally can slow down pretty badly the adoption.
Oh, and Taiwan banned Bitcoin yesterday.

I don't think intervening with ASIC manufacturing would be that effective for a government. Plus a blackmarket would pop up and help circumvent it. But I could see crippling regulations that effectively kill bitcoin service companies like coinbase. and crippling regulations that prevent the public from using it and shops from accepting it. I know coinbase, and I think a few others, have hired lobbyists to make sure cryptocurrency regulations are fair in their country. but against the power of large traditional financial companies they are nothing

They cannot stop individuals from using Bitcoin.
They might try to kill it through over-regulation.

You can laugh now. And I know it it seems pretty unrealistic now. But realistically it could happen. The best and efficient way is for governments to regulate ASIC manufacturing,
for example by forcing manufacturers to add some sort of kill switches to the hardware, force them to register and have mining licenses.

LOL ban Bitcoin
Goodd joke 

i dont think there is anything they can do to "literally" stop or kill Bitcoin, You cant kill an idea (or any  other Alts for that matter), however i do worry about government crackdowns on digital currency's, cause no matter what country your in, or who your government is, the one thing they all have in common is how serious they are about Not fucking about with their money! and bitcoin (the way i see it anyways) kind of does just that, or at least strips the power of money control away from the Big guys, and gives it to the people.

We will always be able to send/receive bitcoin, for many of years to come, but i can remember a time back when i used to torrent all day every day, now you cant get to any of your favorite torrent sites without jumping through a few proxy's,
i remember when i first stumbled across them when i was younger i didnt know anyone (in person) that knew about torrents, then there was the phase where everyone knew about them a few years later and when i say everyone i mean the general public, hey i even remember my friends mum who i think is in her late 50s downloading torrents, but now where in a stage where although you can still download torrents willy nilly, the average person cant anymore or isnt at all bothered to go out and look for ways around the blocks to getting to them, i fear the same for bitcoin, what major retailers will be willing to accept bitcoin if the big governments are busy trying to lock them down? sure ill still be able to send bitcoins to my friend and he will probably gladly accept them, but isnt the goal for me to be able to send bitcoins to his mum, or my mum or just the average person and they can now go out and spend their coins without the hassle of Searching for a place to spend them?

Bitcoins need room to thrive, sure they'll survive but surviving is the easy part.

My nearest bitcoin ATM is a 1 hour drive away from me, not the most convenient, i dream of a day where i can walk 2 mins from my house to my local shop, and use one.