Can a country actually ban BITCOIN - page 8.

loloy

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Quote from: kpierce77 on January 13, 2018, 01:21:43 PM

Not like that. I think there is another purpose from the government in doing some statements like that. because I've also heard that a community that is not currently using bitcoin will be a gap, so the government limits its use

The only reason behind every government or state that are banning cryptocurrencies is they are afraid that their sovereign fiat will be affected by any digital assets that isn't backed by their state.
Digital assets are volatile that's why they want to protect their economy by sending the users to prison if they will try to involve cryptocurrency in their earnings. Thailand, Vietnam and Bangladesh are few of the countries who hates cryptocurrency.

WSDN

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they can. but people still use that without dangerous. because it is very hard to track who use bitcoin or not

loloy

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Quote from: maxamus on January 13, 2018, 01:14:10 PM

Quote from: anjuara29 on January 13, 2018, 12:32:26 PM

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.

kpierce77

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Not like that. I think there is another purpose from the government in doing some statements like that. because I've also heard that a community that is not currently using bitcoin will be a gap, so the government limits its use

meldrio1

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yes they can ban bitcoin if they really want to ban it, if the government found out the increasing rate of criminals or drug dealers because of using bitcoin as the secret transaction online then they will ban it, or if they think that bitcoin is the reason why their economy down then they will ban it.

maxamus

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Quote from: anjuara29 on January 13, 2018, 12:32:26 PM

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.

melted349

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Quote from: usekevin on January 13, 2018, 12:02:51 PM

Quote from: rangga28 on January 13, 2018, 11:56:51 AM

I think the news is true sir. Because in my country bitcoin and altcoin still not legal by the government. and there are rumors saying that soon bitcoin in my country will be banned. and I hope it will not happen

Only in some countries bitcoin is illegal. But in most of country bitcoin is legal, even it get banned. The bitcoin will not fully abolished from any country. Some of people said bitcoin is illegal in China. But still now,there are lot of traders are in China and many mining farm is there in China.So don't worry about it, bitcoin will become legal in your country.

there is a lot of countries that ban bitcoin for so we all have to be aware on this so people that are living for where this is legal for we can say that they are lucky and the country that they belong for are has a freedom for , every country has their own reason for why they ban it so we should be able to respect it.

loloy

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Quote from: anjuara29 on January 13, 2018, 12:32:26 PM

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.

Is possible government can ban Bitcoin or any coin exchange as what China did since last year but still people can get out and Cryptocurrency as they like, is just that no banks or any exchange institutions could process your social assets into fiat because huge amount of money transactions are subject to be monitored so people can earn cryptocurrency but they couldn't convert it into local money.
That would be the effect of your country does ban cryptocurrency and you can do nothing about it.

loloy

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Although Bitcoin and Altcoins are somehow decentralized, meaning there's no one man or a group of people or an organization or company that is manipulating or in control of Bitcoin's supply and value that which can be circulated around the world but the limitation can be controlled by the the state of government. They could ban any exchange through monetary because it can be traced and no banks could make such transactions in any way other than keeping it on your wallet no matter what the amount of figure you're holding.

Baton55

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If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved.

Hirameki

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Quote from: Dydot on January 13, 2018, 08:50:33 AM

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.

Actually yes, if it they deemed it necessary and believe that it is harmful for their people. But I dont think they will do it because its not feasible. Many problems of a country that bitcoin solves, like unemployment and underemployment.

anjuara29

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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.

sister1001

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Quote from: Duzenn on January 13, 2018, 08:54:55 AM

If it is illegal to declare private transactions and then arrest those who trade in bitcoin, then I think bitcoin transactions will be banned.

It would be practically impossible to enforce a ban on bitcoin operations. It is possible to make hard rules and even ban transactions and that would have a bad effect, but to make a full stop... nah

grimoire5

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country can ban bitcoin but can not stop their activity such as trading and mining
ohh also transaction of bitcoin to other
they can make it illegal, capture the user but can not stop all BTC user fully

Quote from: Nawaytes on January 13, 2018, 12:21:24 PM

Yes, all of country can bann bitcoin or altcoins anytime they want, and anyone could make a rumor about bitcoin and altcoins so they can get that coins at "super low" prices.
Just believe in yourself, your insting, because nobody can give you a guarantee for super predict that they have and the chart or price of cryptocurrency.

nice

entr

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They may ban exchanges so indirectly, people can not safely trade bitcoin to fiat. This may decrease use of bitcoin.

Nawaytes

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Yes, all of country can bann bitcoin or altcoins anytime they want, and anyone could make a rumor about bitcoin and altcoins so they can get that coins at "super low" prices.
Just believe in yourself, your insting, because nobody can give you a guarantee for super predict that they have and the chart or price of cryptocurrency.

Stasnislav11

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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?

usekevin

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Quote from: rangga28 on January 13, 2018, 11:56:51 AM

I think the news is true sir. Because in my country bitcoin and altcoin still not legal by the government. and there are rumors saying that soon bitcoin in my country will be banned. and I hope it will not happen

Only in some countries bitcoin is illegal. But in most of country bitcoin is legal, even it get banned. The bitcoin will not fully abolished from any country. Some of people said bitcoin is illegal in China. But still now,there are lot of traders are in China and many mining farm is there in China.So don't worry about it, bitcoin will become legal in your country.

rangga28

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I think the news is true sir. Because in my country bitcoin and altcoin still not legal by the government. and there are rumors saying that soon bitcoin in my country will be banned. and I hope it will not happen

balrog

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Any country can ban bitcoin , but it doesn't mean that people won't use it . If we talking about people who making a big money on trading , or other crypto-related business they can just leave their country and move to another one they like , where crypto is not prohibited . Actually , this is what happening now with btc miners in China .

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