Btc and government, what does the future holds? - page 2.

AnonBitCoiner

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Quote from: Indrawan77 on February 01, 2018, 01:16:55 AM

Yes the government able to banned all the things regarding to crypto currencies and there are nothing we can do about it, we only can secretly using or saving crypto, and there is possibility that the government will take that action, if the government feel cant control the crypto anymore then the government will take the easiest action which is banning crypto completely

In my country bitcoin is legal upto now.So I was very happy about it.Bitcoin is the future currency .The country which makes bitcoin has a legal are the early adopters of bitcoin.The people of their country will have huge bitcoin in their wallet.Government making bitcoin as a legal because they got fear bitcoin will replace their currency.

J Gambler

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Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

To break the camel’s back, I think that a country needs to sponsore and let cryptocurrency work its way on its economy and financial status. Once it has fully integrated and a lot of companies take notice major investments would be made and governments would soon take notice of what is there for the future on them if they would behold bitcoin into a whole other level into which they finally accept bitcoin as a currency

rickhayes

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Some country already do that and government on every country has power to do it (banned cryptocurrency). Time will tell.

Indrawan77

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Yes the government able to banned all the things regarding to crypto currencies and there are nothing we can do about it, we only can secretly using or saving crypto, and there is possibility that the government will take that action, if the government feel cant control the crypto anymore then the government will take the easiest action which is banning crypto completely

barbara44

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Quote from: KingdomHearts on January 30, 2018, 01:45:20 AM

Quote from: Coffee135 on January 29, 2018, 08:37:58 AM

Quote from: eaLiTy on November 10, 2017, 04:39:39 PM

Quote from: z38630610 on October 31, 2017, 10:09:34 AM

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal Roll Eyes

i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

They have more advantages for bitcoins if they are banned, yes you are right. These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.

Legalization of a crypto currency is not an easy thing to do for any of the government as they are well aware of this fact that all the crypto currencies are decentralized in nature and even if they declare it as legal currency, there will be no control of the government on any of the crypto coin.

It will take some time for the government to realize the need and importance of bitcoin, only then they will take such kind of step.

Tungsten-1

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Quote from: StonedWolf on January 30, 2018, 04:39:07 AM

Sadly, there is no guarantee that such a thing can't happen. In some countries, bitcoin doesn't pose a threath. Also ,it doesn't harm the economy. At least, not yet.
But, for other countries that are facing problems, it is indeed a threat. Some transactions need to be tracked, for people 's safety purposes. For example, imagine that an assasination happened. The government caught the hitman and the money he got from the opetation. They want to track it. If it is in bitcoin, they can't. In that case , they will just prohibit it.

What i want to say , nothing is certain, because its happening , depends on too many variables.

For sure, this matter of bitcoin legalization and illegalization throughout the world is not a small thing. It is moreover dependent on various factors such as the government system of the state, economy, crime rate, demographic variations etc. so it is not easy for the state to take nay solid step in short time. Here I will appreciate those countries that have declared bitcoin legal because they are step ahead from others in understanding the need of this action.

gabmen

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Quote from: BettingTips on January 30, 2018, 05:18:10 AM

Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

Bitcoin, as well as the cryptocurrencies market, is facing a risk of being banned from trading by governments. But I find the government's ban on electronic money is because they feel they can not control the money, fearing it will affect the economy as well as the finances. And now governments in some countries instead of banned Bitcoins and cryptos, are looking for ways to control the cryptos, they recognize that the cryptocurrencies market will be the future of the currency in the next 30 years.

Its too early to tell. Governments around the world don't have the same stand when it comes to crypto, with japan leading those that seem to accept bitcoin with open arms, and those like china who seems too uneasy about an anonymous currency. For me, in the long run crypto will be regulated by certain countries and eventually be accepted with certain laws and restrictions

Lora_ng15

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bitcoin to control or not possible, or very hard, it is better to live in a country where the crypto-currencies are legal

Fantastic33

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Some countries already banned cryptocurrencies, just like in china. In September last year, ICOs were banned in china, and to suspend crypto to fiat currency order-book trading services. Recently about 2 weeks ago, Chinese government also wanted to apply more strict regulation on cyptocurrency trading-related activities and services. Korea is also planning to ban crypto exchanges but its not yet final. All those banning are already happening. Hoping that other countries wont do the same and still look on the benefinits that cryptos can give us.

BettingTips

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Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

Bitcoin, as well as the cryptocurrencies market, is facing a risk of being banned from trading by governments. But I find the government's ban on electronic money is because they feel they can not control the money, fearing it will affect the economy as well as the finances. And now governments in some countries instead of banned Bitcoins and cryptos, are looking for ways to control the cryptos, they recognize that the cryptocurrencies market will be the future of the currency in the next 30 years.

boyshx

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Quote from: Hydrogen on August 31, 2017, 04:01:00 AM

Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

If you're referring to the united states, look up something called "senate bill 1241" which involves crypto currencies/bitcoin.

It contains provisions which would allow the government to seize crypto for no reason with no checks or balances. It contains other controversial content including adjusting the terms gift cards and others associated with bitcoin/crypto are forced to operate.

It is also possible that the united states government uses its influence to protect chinese bitcoin miners having a controlling stake rather than a more decentralized mining base operating internationally. There's a lot that could be said on the topic. I wouldn't view my own post as being particularly informative or a decent overview.

I was going through the answers and found yours, seems to be very solid reason but limited to each countries rules and regulation or the government itself. As far as I know these changes can never take place suddenly int he asian countries like India, Bangladesh,etc. Their government is strict but at the same time *corrupted too. They might just take lot of time before they could even make any amendments within those countries. It is said that politicians over there are using bitcoin for the money laundering purposes and thats why the bitcoin is still running over there without any hassles.

So you see this is really matter of each country. Where one may accept the bitcoin openly (like Japan, Switzerland) or they may not and make it strict for example, USA.

*No offence. Information obtained form the local news paper.

StonedWolf

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Sadly, there is no guarantee that such a thing can't happen. In some countries, bitcoin doesn't pose a threath. Also ,it doesn't harm the economy. At least, not yet.
But, for other countries that are facing problems, it is indeed a threat. Some transactions need to be tracked, for people 's safety purposes. For example, imagine that an assasination happened. The government caught the hitman and the money he got from the opetation. They want to track it. If it is in bitcoin, they can't. In that case , they will just prohibit it.

What i want to say , nothing is certain, because its happening , depends on too many variables.

el kaka22

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Quote from: KingdomHearts on January 30, 2018, 01:45:20 AM

These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.

Because, government cannot do anything about bitcoin like they cannot stop people holding bitcoin nor stop people from mining bitcoin. As these are all coming under people's basic rights.

All they can do is, may regulate bitcoin trading against fiats. Like they can impose new regulations against exchanges. That is already happening in many countries but we can see that is not at all impacting the growth of bitcoin in long term. When some regulations are coming in, people first get scared but after that they get practice to that and within that regulations they are finding new ways to adopt and to become a successful bitcoiner.

KingdomHearts

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Quote from: Coffee135 on January 29, 2018, 08:37:58 AM

Quote from: eaLiTy on November 10, 2017, 04:39:39 PM

Quote from: z38630610 on October 31, 2017, 10:09:34 AM

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal Roll Eyes

i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

They have more advantages for bitcoins if they are banned, yes you are right. These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.

fiulpro

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The government is doing all this already,you don't need to think that it's something that's related to future ..
Rather one should remember that... Whatever anyone does the market can always fluorish without their support.

But one thing for sure have changed over these years and that is... The government is getting scared 'scared of the cryptocurrency system Because they are not being able to control this money , it's decentralized and something that they fear.

BlackPanda

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Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

That could happen because the government has the power of access to be able to do things. Bitcoin had previously been a problem because some countries have banned the use of bitcoin. So it is very possible that the government can take a favorable decision for their country.

faceoff97

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Quote from: Coffee135 on January 29, 2018, 08:37:58 AM

Quote from: eaLiTy on November 10, 2017, 04:39:39 PM

Quote from: z38630610 on October 31, 2017, 10:09:34 AM

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal Roll Eyes

i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

How MANY? It is the ICO that has been banned in SOME of the countries around the world like South Korea. China have implemented the ban of cryptocurrency but not specifically Bitcoin. Governments are regulating the use of bitcoin and cryotocurrencies. Since the goverment cannot control the flow of bitcoin being decentralized they will make ways on how to stop or have a control over bitcoins or cryptocurrencies. It's sad how some people in the government use bitcoin for their own interest.

amih

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as applied in my country for now is to impose a ban on the form of transactions or the sale of any type of goods by using the method of payment with bitcoin on the grounds in my country there is an official money intended to transact. but in my country there is no prohibition to invest with bitcoin so for me this is not really a problem because my goal on bitcoin is to make an investment within a certain period of time. and if I want to do a sale and purchase transactions of course I do is first to exchange for bitcoin that I have to be converted into USD or official money in my country.

lesinset

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I think that it's possible for the government to come up to such law that will forbid bitcoin. But, I believe they won't do it because they themselves can earn a lot from bitcoin if they'd use the law to it.

ss890

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Quote from: Gozie51 on August 29, 2017, 12:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

My opinion about this one:

They have already started taking the actions in different countries. I believe that maxima for this incidence will reach to all new heights soon. Many countries already fell into this and people got screwed with the investments. So we need second alternative surely.

Quote

What do you think & what will happen?

Getting real experience from the people who are in the country where the bans have occurred recently. Its really fearing thing that our funds might get ceased into different exchangers and we may not get them back. So most probably bad things will happen only.

For the sake of governments own safety it won't be difficult for them before they can ban from the whole world. Im seeing the storm but somehow big investors might be stopping or trying their best to stop the bad accusation. Otherwise it would have been already stopped.

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