Topic: Can a country actually ban BITCOIN - page 7. (Read 1028 times)
It will be so long the government says its illegal. Though I don't blame them, they won't just go for something they don't understand. That's how we humans are, always scared of the unknown. Very few of us got the guts
If a country wants to ban Bitcoin, they'll first make it illegal to own or trade Bitcoin. Secondly they'll regulate the banks to prevent money transfers to exchanges... which would dramatically reduce demand for it. That would essentially push Bitcoin to the fringes and criminal elements of society. Let's hope that doesn't happen.
I think no one can ban bitcoin because it is a decentralized technology.
They stop the local platform that transacts bitcoin by converting btc to local currency
People would use vpn and anything related to money such as paypall to disburst it.
Bitcoin is a Digital Currency. I like Bitcoin.
They stop the local platform that transacts bitcoin by converting btc to local currency
People would use vpn and anything related to money such as paypall to disburst it.
Bitcoin is a Digital Currency. I like Bitcoin.
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
obviously not at all, because bitcoin transactions can be done in any country and using any IP so bitcoin will not be prohibited its circulation by any country.
it can happen however i dont see it happening ...
even if they will, people will keep using it =]
even if they will, people will keep using it =]
This could happen. especially if a bitcoins or altcoins are harmful to a country. It's just like investment scams and many more that can affect someone to lose money. Of course you need to have a law for that.
What they can ban is local exchanges, and block the online exchnages, nothing else they can do honestly.
I think that this cant happen.
Because bitcoin is a decentralized system, it does not have an owner.All that the government can do is block websites linked to it. But there is always a cold purse. How can they block it? No, so do not worry about it.
Every "power" now wants to bite off a piece of pie. Earlier when the crypto currency was at the bottom, something they did not pay attention to it.
Yes, that is the real power of a decentralized system. A country may ban fiat related operations like exchanges and mining process but never can ban holding bitcoins. Also government cannot stop people to exchange bitcoins within themselves as people will be able to send and receive bitcoin anonymously all the times. Some governments are not taking any responsibility about bitcoin for this reason only. For the same reason, government cannot ban bitcoins.Because bitcoin is a decentralized system, it does not have an owner.All that the government can do is block websites linked to it. But there is always a cold purse. How can they block it? No, so do not worry about it.
Every "power" now wants to bite off a piece of pie. Earlier when the crypto currency was at the bottom, something they did not pay attention to it.
Even governments ban bitcoins, that will not affect bitcoin users in any drastic manner. So, the progress of bitcoin growth will not get impacted.
I think that this cant happen.
Because bitcoin is a decentralized system, it does not have an owner.All that the government can do is block websites linked to it. But there is always a cold purse. How can they block it? No, so do not worry about it.
Every "power" now wants to bite off a piece of pie. Earlier when the crypto currency was at the bottom, something they did not pay attention to it.
Because bitcoin is a decentralized system, it does not have an owner.All that the government can do is block websites linked to it. But there is always a cold purse. How can they block it? No, so do not worry about it.
Every "power" now wants to bite off a piece of pie. Earlier when the crypto currency was at the bottom, something they did not pay attention to it.
Ofcoures it can, goverment can control everything that happend in their country. If they think bitcoin will likely make their economy not stable they can make rules about it and bann bitcoin
to support this, exchanges for fiat can be control from site within the country. ICO can also be limited. Aside the decentralization factor that countries are considering to be challenge to them, it still has a lot of advantages. if Singapore with the accolade of economic improvement uses ICO and bitcoin so well to improve investment within the country, countries should employ the same idea.
It is a possible situation but anycountries can't stop this progress. It will be dominant location in world market as global money . I hope every country support this progress.
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VPN, TOR, ETC. anything they can try to do can be bypassed by a semi competent person.
True, but that only helps the clients/users? What i mean: Exchanges are really helping to find acceptance for a coin, and running an exchange behind tor would be problematic, as the data throughput is really low..Hm, on the other hand: isnt openbazzar doing something like that? Never really checked..
But as long as in some-country there is still an exchange, we should be fine. If we wouldnt have exchanges, i guess it would fallback to manual arranged p2p trading for converting fiat to crypto..that would suck (no offense dear localbitcoins.com fans)
I think that far-sighted heads understand that they behind cryptocurrency the future, but are afraid of it and don't know what with it to do. They hope will give the chance to occupy the niche to cryptocurrency in the real world.
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
you already answered on your question. even if we recall the recent situation with Korea, which is rumored to have banned crypto-currencies. And then it turned out that this information was misconstrued. 
I think certainly can prohibit the use of bitcoin inside the country, if faced with such a task, he would be able to implement it, but why?
Yes if any country decided to ban bitcoin or crypto completely then they can easily ban it and just give lame excuses like terror funding or illegal transaction to by pass the tax amount and all but a smart government will not do that but rather it will tax bitcoin traders and ask them to keep track of users with high transactions.
VPN, TOR, ETC. anything they can try to do can be bypassed by a semi competent person.
I think the thing is the use or the exchange is possibly can be banned. But for me as long as there is internet bitcoin will still be there. I mean they can stop the use if it and the like but banning it without lets say shutting down the net is impossible people could still find a way to access bitcoin.
I think Brazil can, unfortunately, do it soon.
they can. but people still use that without dangerous. because it is very hard to track who use bitcoin or not
Everyone can use cryptocurrency but the problem would be on the country you belong. If Bitcoin and all cryptocurrency are banned then all you can do is using cryptocurrency as it is as digital but there's no way you could exchange it into you local fiat as it serves no value in that particular place.
You can only earn coins and tokens but you couldn't turn them into cash.
My opinion is a county don't actually ban Bitcoin, Because of if a gov ban the btc in his/her county then people won't abide by this law i think. They will buy or sell btc secretly and will continue this buy and sell. After all a country won't ban bitcoin actually.
Yes if bitcoin is banned by a particular government then it will become like the biggest grey market of the century as the users have once experienced the amount of profit they receive from bitcoin they are not gonna stop using it either by hook or crook bitcoin will be there so the government should be wise and should not make any premature decisions like banning bitcoin and all.
Bitcoin will become the next Cocaine of the community where users are making transactions on tunnels or under the streets with hoods. The only authority could stop Bitcoin and Cryptocurrency adoption is the state or the government wherein banks are subject to submit their transaction information into governments in order to control cryptocurrency activities.
People could still use cryptocurrency in other ways but it's very hard to exchange it into fiat due to government restrictions just like in China, there are so many Chinese investors but they couldn't exchange it into their own local fiat.
and stil they can use P2P or hand to hand exchange to exchange with fiat, so yes country can ban it, but they can't stop it
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