Can any government ban Bitcoin? - page 15.

smyslov

sr. member

Activity: 2030

Merit: 269

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

The latest one was south korea and this cause big interruption and a big crash in bitcoin but they clear it up by saying they are not banning but only regulating, yes any major country can ban bitcoin because they are free to do that, but bitcoin trading and uses of cryptocurrency will still continue.

Masteriano4423

newbie

Activity: 152

Merit: 0

Any of government has their own law which can set the law to ban bitcoin.The effect of bitcoin banning by government is not for long term , investors will always buy bitcoin because they thrust that bitcoin has good future

futuristic18

newbie

Activity: 59

Merit: 0

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Yes, any government can ban Bitcoin. It's still not centralized however EU has a plan to cover digital currencies but till it is not covered by EU or done centralization, any government can ban it.

Ethan112

newbie

Activity: 78

Merit: 0

I think Bitcoin can not be banned at this time because Bitcoin is a global trend. Some countries now declares war on cryptocurrencies. South korea banned bitcoin and all trading transaction with bitcoin. But it can not be banned in the whole world.

yron51

newbie

Activity: 168

Merit: 0

Possible it depends on how bitcoin will process correctly

bitcoin is legal to the government so 10% rate can government ban

Beehives

jr. member

Activity: 175

Merit: 2

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Banning a cryptocurrency is a government prerogative. Government will band only if the the BTC have no benefit on the government itself.
At this heights of btc banning cannot really stop the trading and operation it will always find its ways to the market. The best thing the government can do about it is to tax and legalize the cryptocurrency so that both the government and the traders/investors will benefit.

Skuylaruy

jr. member

Activity: 68

Merit: 1

Quote from: Scor1937 on December 23, 2017, 01:35:46 AM

Unfortunately, yes any government can do so, but even banning bitcoins will not affect much. Also the USA government has banned ICO's which keeps their citizens safe from various ponzi projects. Bitcoins are actually decentralised and banning them by any individual government won't affect much.

Yes of course, the government can just forbid the use of bitcoint and cut the access to bitcoint exchange,the government can impose law against bitcoin and giving sanction to those who violated thier laws.

Rupok365

jr. member

Activity: 280

Merit: 1

Bitcoin is not a currency issued by any country. So, it is not possible to control the government. However, if the government wants it can invalidate the transaction. It has become quite popular because the government did not pay taxes.

mybtcasset

newbie

Activity: 238

Merit: 0

Quote from: longminh123 on January 19, 2018, 08:30:46 AM

I think Bitcoin can not be banned at this time because Bitcoin is a global trend, and many parts of the world are beginning to legalize Bitcoin. For me should choose Bitcoin as a means of payment as it will greatly reduce the cost

I can agree with you but governments are not directly mentioning that they are banning the Bitcoin. Even many countries are saying it is illegal but no country is directly telling we are strictly banning the Bitcoin in specified countries.

Biomech

legendary

Activity: 1372

Merit: 1022

Anarchy is not chaos.

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Absolutely. And the effects will be devastating, and will drive up the value of Bitcoin. Google the Volstead Act for confirmation of the assertion.

sitnikov

jr. member

Activity: 98

Merit: 4

It is very much possible for government to ban Bitcoin in a country. They can do so by taxing people or punishing them for Bitcoin transactions.

AliMan

hero member

Activity: 1974

Merit: 502

Vave.com - Crypto Casino

Quote from: rvrl_23 on January 19, 2018, 09:04:32 PM

Actually China already banned bitcoin, so yeah. but I think any country couldn't do anything about controlling them, because bitcoin is decentralized, and correct me if I'm wrong but, I think no organization or company has control over them.

If bitcoin is illegal, why it is now existing and accepted by the other countries? It will not be banned because bitcoin is legal. Actually, it will help to grow the economy of a country. There will be no reason to ban bitcoins in any government because their country will benefit from it.

rvrl_23

newbie

Activity: 45

Merit: 0

Actually China already banned bitcoin, so yeah. but I think any country couldn't do anything about controlling them, because bitcoin is decentralized, and correct me if I'm wrong but, I think no organization or company has control over them.

lyks15

full member

Activity: 546

Merit: 100

I think yes. Government can ban bitcoin any time they want because there is no legal consent to operate bitcoin here in Philippines even it is a free country. Even it is a global trend government has a right to stop it whenever they want. Specially they dont have any income coming from bitcoin. Like in China they already ban bitcoin because I think bitcoin affect their money flow and product availment because many of people earn a lot coming from bitcoin. But I think instead the government look the bitcoin in a negative side they should think that bitcoin is a big help for the people to have a good income specially to those unemployed.

napi

member

Activity: 350

Merit: 10

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

it seems that it will not be possible and can not because bitcoin is the digital currency that its circulation in the movement by directly from the demand from buyers who want to buy bitcoin, including the government also will never be able to stop the circulation of bitcoin.

Raisa263616

member

Activity: 154

Merit: 10

Yes
any country can do it in there country.Because there right doing anythin in there country.Bitcoin is cryptocurrency,crypto is not parmit in any country.government always say there bank about cryptocurrency to banned and stay far from crypto currency.But the people of this country can use crypto currency in another way.

4U

member

Activity: 195

Merit: 10

Quote from: longminh123 on January 19, 2018, 08:30:46 AM

I think Bitcoin can not be banned at this time because Bitcoin is a global trend, and many parts of the world are beginning to legalize Bitcoin. For me should choose Bitcoin as a means of payment as it will greatly reduce the cost

There is no chance that bitcoin can be ban by any country because bitcoin is the only currency which is going to help in economy of country and it have already reduced unemployment in many countries so I think when a currency can help any country in their economy so I don’t think so any one can ban bitcoin and my country is going to make bitcoin legal because it did a lot for us and everyone they are thank full to bitcoin.

fanten

full member

Activity: 266

Merit: 101

The Future of Global Copyright Registration

Yes, government can do anything to ban Bitcoin. They can frost all the bank account that are related to cryptocurrencies and they can do anything to punish those that play with bitcoin if they seriously want people to just stop using bitcoin. We need exchanged to do trading and that is the first step government can take to take down all the exchanges.

cutecute

full member

Activity: 378

Merit: 100

Quote from: nhoj25 on November 27, 2017, 02:57:05 PM

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

For me yes government can ban bitcoin because they have the rights to do it. Government can do anything that they think it can help their country. For me it is better if government will support bitcoin because there are so many people that are being help by it. There are so many people now that are rich and successful by working on it.

Xising

sr. member

Activity: 910

Merit: 257

I think the government can ban cryptocurrency to some extent. I think they'd simply regulate it in my country because in doing so, they can also get profit from it. Totally banning it will only force users to do transactions under their nose. People will find ways to continue their bitcoin business. The government on the other hand will just have to be more vigilant in catching and implementing punishments to offenders accordingly.

Topic: Can any government ban Bitcoin? - page 15. (Read 3343 times)