Bitcoin will be banned in the EU starting from 2025 if ... - page 2.

Wind_FURY

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EU can not ban bitcoin, what will it profit their government to ban it, besides, bitcoin doesn't belong to a continent or country, that will make it difficult for them to ban it,they can only regulate it, in fact if they ban it, it will not have any benefit on their economy, I know before 2025 they will change their minds when they think about good things that bitcoin will offer their economy.

They can “ban” it, with the quotes. But to truly ban a censorship-resistant, decentralized cryptocurrency that you can store in your head through a memorized seed phrase is impossible.

Although an EU ban would be an interesting experiment for the Honey Badger.

Wind_FURY

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Quote from: DdmrDdmr on February 26, 2022, 04:58:14 AM

Quote from: mynonce on February 25, 2022, 02:53:43 PM

<…>

We’ve been commenting this on my local board, and my view all along was that someone has blown the scale out of proportion, and what was likely related to discussing PoW mining, somehow scaled to an interpretation and echo of banning all services related to PoW coins.

(translated)

Quote

The vote of the EU Parliament on #MiCA will be canceled at my request and will not take place on February 28th. As a reporter, it is crucial for me that the MiCA report is not misinterpreted as a de facto #Bitcoin ban @btcecho.

The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted & understood as a PoW ban. It would be fatal if the #EU Parliament were to send the wrong signal with a vote under these circumstances.

In this context, I see the urgent need to resume talks and negotiations with the parliamentary groups on this topic and to create clear facts on the #PoW question @paddi_hansen.

I will make another attempt with all stakeholders to reach a compromise that provides crypto assets with a proper legal framework but does not challenge #PoW .

https://twitter.com/DrStefanBerger/status/1497151798355898368

Berger, whom I believe was bearing the weight of the proposal, even seems to downplay the PoW discussion. Something to follow, but that likely should not raise all these bells and whistles.

Plus they should be careful. The technology they ban can and will be used against them by entities who would embrace, and weaponize it. Bitcoin’s underlying nature to weaken their strongholds in finance and finance and politics is not fully understood, nor is it priced in.

bitzizzix

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Quote from: Taskford on February 26, 2022, 05:32:59 AM

Quote from: virasog on February 26, 2022, 03:31:37 AM

Quote from: mynonce on February 23, 2022, 09:40:41 PM

Just read this report:

EU on Track to Ban Bitcoin: Report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'

Check the date , that is 2025. Who knows what will happen in 2025. If they need to ban crypto, why not ban in 2022 ? The fact is that this news are produced only to suppress the bitcoin price and create negatively. Don't know why it is done, perhaps some whales need to buy more cheap bitcoins.

They can't ban bitcoin now, not next year, and not even in 2025. I think in 2025, you will hear statement that EU have accepted bitcoin

2025 is long time to speculate and if they want to ban it they will do it now not on the year which is far to happen. And there's so many thing to happen on that year then might we can see bitcoin adoption or became a legal tender on some countries in the world. If good things happen for sure they will never think about banning bitcoin but they will find ways to regulate it.

Yes, if intend to ban it, why wait years, and in my opinion, for bitcoin to 2025, bitcoin changes will definitely go further and become more popular and any related issues will be resolved soon.
because there's a lot of potential for bitcoin to become more popular in the future, and I think that's something to really pay attention to. And more and more businesses are starting to accept bitcoin as a way of payment and lots of other good news that I think will continue that in the end many countries have accepted it well.

Fortify

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Quote from: mynonce on February 23, 2022, 09:40:41 PM

Just read this report:

EU on Track to Ban Bitcoin: Report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'

source: https://u.today/eu-on-track-to-ban-bitcoin-report

I don't know what they want, but I wanted you to know this ...

--------------------

Update 25/Feb/2022

Quote from: mynonce on February 25, 2022, 02:53:43 PM

European Parliament Postpones Vote on Crypto Regulations Indefinitely

'The European parliament has postponed its vote on the proposed regulatory package for crypto assets after a leaked draft drew criticism for including a provision that sought to ban the use of cryptocurrencies like bitcoin and ether in the European Union (EU) over energy concerns.

The parliament member in charge, who is known as the rapporteur, Stefan Berger, has asked for more time to clarify the provisions, according to a Twitter post he made on Friday. The parliament was supposed to vote on the draft for the Markets in Crypto Assets (MiCA) framework on Feb. 28.'

Source: https://www.coindesk.com/policy/2022/02/25/european-parliament-postpones-vote-on-crypto-regulations-indefinitely/

European Parliament delays vote on crypto assets bill over proof-of-work debate
https://www.theblockcrypto.com/post/135459/european-parliament-delays-vote-on-crypto-assets-bill-over-proof-of-work-debate

It does seem like the writing is on the wall for Bitcoin and cryptocurrencies, unless they can figure out a way to become more environmentally friendly. Unfortunately the complex calculations the blockchain is trying to solve creates a lot of wasteful duplication and all of the "wrong" answers translate into wasted energy. It comes down to a simple question - is the benefit of a decentralized currency better than existing payment networks. Quite simply they are not for the vast majority of use cases. If you can send a simple transaction between financial institutions already which costs a fraction of the energy of a bitcoin transaction then it will never be justified. It should be remembered that most of the world is currently in an energy crisis right now, so any way to conserve it will be looked upon favorably.

Taskford

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Quote from: virasog on February 26, 2022, 03:31:37 AM

Quote from: mynonce on February 23, 2022, 09:40:41 PM

Just read this report:

EU on Track to Ban Bitcoin: Report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'

Check the date , that is 2025. Who knows what will happen in 2025. If they need to ban crypto, why not ban in 2022 ? The fact is that this news are produced only to suppress the bitcoin price and create negatively. Don't know why it is done, perhaps some whales need to buy more cheap bitcoins.

They can't ban bitcoin now, not next year, and not even in 2025. I think in 2025, you will hear statement that EU have accepted bitcoin

2025 is long time to speculate and if they want to ban it they will do it now not on the year which is far to happen. And there's so many thing to happen on that year then might we can see bitcoin adoption or became a legal tender on some countries in the world. If good things happen for sure they will never think about banning bitcoin but they will find ways to regulate it.

DdmrDdmr

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Quote from: mynonce on February 25, 2022, 02:53:43 PM

<…>

We’ve been commenting this on my local board, and my view all along was that someone has blown the scale out of proportion, and what was likely related to discussing PoW mining, somehow scaled to an interpretation and echo of banning all services related to PoW coins.

(translated)

Quote

The vote of the EU Parliament on #MiCA will be canceled at my request and will not take place on February 28th. As a reporter, it is crucial for me that the MiCA report is not misinterpreted as a de facto #Bitcoin ban @btcecho.

The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted & understood as a PoW ban. It would be fatal if the #EU Parliament were to send the wrong signal with a vote under these circumstances.

In this context, I see the urgent need to resume talks and negotiations with the parliamentary groups on this topic and to create clear facts on the #PoW question @paddi_hansen.

I will make another attempt with all stakeholders to reach a compromise that provides crypto assets with a proper legal framework but does not challenge #PoW .

https://twitter.com/DrStefanBerger/status/1497151798355898368

Berger, whom I believe was bearing the weight of the proposal, even seems to downplay the PoW discussion. Something to follow, but that likely should not raise all these bells and whistles.

Kakmakr

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This is all politics.....

They have to push "Green" energy solutions, because they are forced to buy Renewable energy credits to bypass the laws that require them to operate without all these energy saving solutions. So environmentally conscious governments are making money out of this and they will most probably start looking for ways to tax POW in the future.

They need time to do this and I should think 3 years will give them time to decide if they can profit from this or not....and if they don't, they will probably ban it. Roll Eyes

Wind_FURY

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Quote from: mynonce on February 23, 2022, 09:40:41 PM

I don't know what they want, but I wanted you to know this ...

Haha. They actually don’t know what they want because it’s truly hard to define what Bitcoin is. Is it a mere Ponzi? A currency for personal finance? A protocol to use to go around sanctions? A network to weaken financial, and socio-political strongholds? The definition becomes bigger and bigger.

This meme illustrates how confused people are.

virasog

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Quote from: mynonce on February 23, 2022, 09:40:41 PM

Just read this report:

EU on Track to Ban Bitcoin: Report
'Bitcoin will be banned in the EU starting from 2025 if the Commission and the Council of the EU don’t ditch a crippling amendment to the MiCA framework'

Check the date , that is 2025. Who knows what will happen in 2025. If they need to ban crypto, why not ban in 2022 ? The fact is that this news are produced only to suppress the bitcoin price and create negatively. Don't know why it is done, perhaps some whales need to buy more cheap bitcoins.

They can't ban bitcoin now, not next year, and not even in 2025. I think in 2025, you will hear statement that EU have accepted bitcoin

PX-Z

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Quote from: mynonce on February 23, 2022, 09:40:41 PM

Just read this report:
...

Quote from: mynonce on February 25, 2022, 02:53:43 PM

'The European parliament has postponed its vote on the proposed regulatory package for crypto assets after a leaked draft drew criticism for including a provision that sought to ban the use of cryptocurrencies like bitcoin and ether in the European Union (EU) over energy concerns.

"over energy concerns"

Are they out of researchers? Lots of researches have done that the consumed energy in bitcoin mining is too low compared to other industry like banks or even much greener than gold mining. Even lots of these miners moved to green energy compared to this old-aged industries.

Why they still keep pushing that it's their main reason? Would be reasonable if they just say that don't want it since they can't control over it.

Hypnosis00

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Well, 3 years left isn't worrying, right? We can just think about what gonna happen in 1 year or in 3 years, kinda we see more changes on the market, and that "IF" turns to "F" failing to ban Bitcoin. Hearing more FUDs isn't healthy anymore, I hope the government will help instead of contradicting the development.

I'm not sure but maybe they could appreciate Bitcoin 3 years from now and change their plan, they will support Bitcoin and cryptocurrencies. They can't be blind forever and seeing the growth of Bitcoin users will help them realize that it needs support, not criticism or banning.

Japinat

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Quote from: Questat on February 25, 2022, 03:12:37 PM

It's not even a FUD for me, that's 3 years from now, imagine the scope of adoption we already have by that time. Actually, I'm not worried or never will be worried about that as I heard a lot of bad news, speculation, or anything related to it about bitcoin before, but look where we are now, bitcoin is still here successful.

That ban may not be possible in the long run because there are still a lot of positive changes in bitcoin that will take place within 3 years from now. Patrick Hansen, head of growth and strategy at decentralized finance startup Unstoppable Finance, described the proposal as “suicidal,” predicting that it would kill the entire crypto industry in the EU. But we'll see if they will come to succeed that ban since bitcoin has now becoming more inevitable, so how much more by 2025 when most of the countries have already decided to legalize bitcoin and eyeing bitcoin to be an alternative currency by then. Source:https://u.today/eu-on-track-to-ban-bitcoin-report

Questat

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It's not even a FUD for me, that's 3 years from now, imagine the scope of adoption we already have by that time. Actually, I'm not worried or never will be worried about that as I heard a lot of bad news, speculation, or anything related to it about bitcoin before, but look where we are now, bitcoin is still here successful.

Imran232

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Quote from: hd49728 on February 23, 2022, 10:12:54 PM

Did they on track to ban the Internet in 1990s? Did they succeed to ban the Internet?

............

That is the answer to what I wanted in this post, and I got it from here. Look at what I believe now regarding bitcoin and crypto. It's not just a payment asset or just a revolutionized technology. Now it has turned into a community, it has become a network, and it has succeeded in connecting the whole world with its chain. What is blockchain? Those countries that legalise bitcoin can easily use bitcoin in other supported countries too. It's like they are using the other countries' currency too. But all the currency is the same, isn't it? I also believe that in the future, the whole world will adopt it. No one can deny it easily because it is a network for community. And the EU is predicting about 2025. It's like another joke.

mynonce

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Update 25/Feb/2022

European Parliament Postpones Vote on Crypto Regulations Indefinitely

'The European parliament has postponed its vote on the proposed regulatory package for crypto assets after a leaked draft drew criticism for including a provision that sought to ban the use of cryptocurrencies like bitcoin and ether in the European Union (EU) over energy concerns.

The parliament member in charge, who is known as the rapporteur, Stefan Berger, has asked for more time to clarify the provisions, according to a Twitter post he made on Friday. The parliament was supposed to vote on the draft for the Markets in Crypto Assets (MiCA) framework on Feb. 28.'

Source: https://www.coindesk.com/policy/2022/02/25/european-parliament-postpones-vote-on-crypto-regulations-indefinitely/

European Parliament delays vote on crypto assets bill over proof-of-work debate
https://www.theblockcrypto.com/post/135459/european-parliament-delays-vote-on-crypto-assets-bill-over-proof-of-work-debate

slaman29

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Quote from: suzanne5223 on February 24, 2022, 06:46:29 PM

Ever since the EU government raised a red flag on Binance exchange for offering Margin trading for EU citizens have presumed a day like this will come but they ought to have placed a ban on Bitcoin this year instead not 2025.
This is reminded of the thread where the Ontario Superior Court of Justice ask the wallet creator/provider to freeze a self-custodian wallet of a user.
Having said that, if the EU government ban Bitcoin I am sure their citizen will always find a way round just like we see in China.

China, America, sometimes Russia sometimes India, everyone has tried to ban Bitcoin and everyone keeps getting taught that they're wasting their resources. Some of the enemies have now become friends.

You ban the intent, you can't ban the method.

EU citizens are even more equipped to avoid detection as GDPR protects their privacy more than anywhere else in the world.

stompix

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Quote from: pooya87 on February 25, 2022, 12:11:44 AM

Some experts are speculating gas price to jump to $2000 ~~per cubic meter~~ if the energy crisis worsens, similar jumps for oil and coal are also expected as oil price already reached $105.

Per thousands cubic meters Wink

.
And it has already been there in December.

Quote from: pooya87 on February 25, 2022, 12:11:44 AM

If my analysis of the reasons behind this is correct this ban can be pursued more seriously now (at the very least for mining) because of the new developments over the past days.

As I said previously, it's like a vegan restaurant banning meat products from its menu.
Europe has been left with just a few mining farms in the northern countries and a few in Italy, the rest of miners are just like me, small things in the single digits petahash ranges, once my deal with the power company ends if I have to pay open market prices I'm gonna sell all of my gears even without a ban.

Quote from: kotajikikox on February 25, 2022, 04:51:21 AM

Don't worry mate that is 3 years from now meaning there are many things that might happen and will change the way it sounds, remember that there are so many countries in the past that has almost the same stand as EU now but what happened recently ?
most of them are trying to learn about how crypto could help their economy, as accept it or not? cryptocurrency is one of the best thing that they can keep shouldering than other options.

There is one huge difference between accepting bitcoin and accepting mining.
In the EU we use a lot of things that we simply import from other countries and let them deal with the pollution caused by it, the same as we deal with plastics, it's banned to throw it away so we pay poorer countries to take it and, it ends getting thrown away anyhow.
Do you think we care how much pollution is caused where those solar panels and windmills are manufactured?

We won't ban the usage as it's profitable but we need to keep away the unknown and maybe troublesome parts of it.

kotajikikox

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Don't worry mate that is 3 years from now meaning there are many things that might happen and will change the way it sounds, remember that there are so many countries in the past that has almost the same stand as EU now but what happened recently ?
most of them are trying to learn about how crypto could help their economy, as accept it or not? cryptocurrency is one of the best thing that they can keep shouldering than other options.

unrealisticexpectations

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China tried several times and ban every or so years and nothing really changes. I do not think Europe a freer society will achieve anything more and there are probably now a lot of business and maybe even countries like Switzerland and Norway who tries to attract investment into crypto venture and mining projects.

People who benefited from Bitcoin will also fight this and I could see maybe even energy companies going on board since mining are so nice customers. Its really sad that Germany with its failed energy revolution is trying to bully the rest of Europe into taking stupid policies that have already proven to be disastrous with the biggest achievement being the highest energy prices and an increased coal consumption.

And because Bitcoin is not tied to a particular location you could easily see a massive exodus like what happened in China to more open countries.

Ozero

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Quote from: Darker45 on February 23, 2022, 10:35:13 PM

I don't think this will be implemented. Of course, there will be heavy counter-arguments against this. As a matter of fact, there are already a number of EU countries where Bitcoin is allowed. For sure, EU won't commit the mistake of embracing cryptocurrency while implementing a ban on Bitcoin. They would end up embracing centralized shitcoins instead. If they are to get deeper and understand why cryptocurrency became a thing in this post-modern era, the answer would precisely be what Bitcoin offers.

I am quite sure that such a ban will still come into force in 2025. At the last G20 summit, states committed to taking action to avoid further global climate change. Of course, they will not destroy their sectors of the economy that emit greenhouse gases. There will be some kind of restriction, but they will not lose anything if they prohibit the mining and circulation of cryptocurrencies with an energy-consuming PoW algorithm. Moreover, if earlier they only talked about a possible ban on the mining of such cryptocurrencies, now we are talking about a complete ban on walking.
Bitcoin will not disappear from such a ban, but its circulation will be very difficult.

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