Topic: Can any government ban Bitcoin? - page 24. (Read 3343 times)
They have the power to ban Bitcoin in their own country because it is only where they can implement their rules about the usage of Bitcoin. If the government finds the users of Bitcoin abusive in their country, they might think about banning it.
Government has the power to eliminate, stop and ban something that they are against off. And others did their initiative already and they started to ban bitcoin because they can't just see the positive part of it of being accepted into their country.
Bitcoin is not owned or controlled by any government or corporation. Bitcoin network is peer to peer and fully decentralized.
That means nothing. So you have a bitcoin, you can't buy anything with it. You cash in at coinbase. The US Congress passes a law requiring any exchange to issue a 1099 form for any conversion to cash. What record do you have proving your basis price? Don't have any, bingo, the IRS says you have a 100 percent capital gain. You can bet that legislation is in the works to get access to capital gains taxes on bitcoin transactions. Buy a car and use bit coin, the dealer will be required to report the transaction. Buy property with bitcoin, the transaction will be reported to the IRS. Think carefully people. Tax is one thing, tax and penalty at 20 percent interest is another.
Anyone who thinks they can get around a power house like the US IRS is making a big mistake. Drug dealers fill prisons and so can bitcoin tax evaders. About all Bitcoin is good for is blackmarket transactions and, that is actually very useful.
They can since they are the person responsible in implementing the rules and laws of a country. But if they wish to ban Bitcoin, they will have to get through a lot of process since it has become more popular through the years and many people have started using it.
Can government ban drugs? They can try to ban Bitcoin, but they can suppress it.
They just want more control, but better option for them is to try to play the same game and not to do something what they can't do.
They just want more control, but better option for them is to try to play the same game and not to do something what they can't do.
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?
Can the government of any major country step in and do the unlikely?
Yes obviously, That is the reason why other investors cannot spend their money on bitcoin, It is because of hesitation if bitcoins will really be successful someday since other country are banning it because it really affects their industry or business of other people, More likely are the banks is really affected when people are not investing on them but turning to bitcoins because the growth of their money in cryptocurrency is growing faster rather on a time deposit.
Yes. they have the power to ban bitcoin if they proved that it may affect the security and stability of their country then they will ban the use of bitcoin.
The government can ban the use of bitcoins as currency, but I see no reasonable reason to ban the use of bitcoin as an asset. At least that's the impression I received from my government policy.
No government wish to ban such a popular currency only because it is creating competition to their traditional currency. Its duty of government of country a country to protect the interest of its citizens. Bitcoin have some serious loopholes and disadvantages that is creating some security issues. Bitcoins continuously rising price is attracting many illegal activists towards it. So to prevent such activities, countries like Australia, Japan, Canada have banned and regulate bitcoin currency.
Bitcoins has no central authority over it, its is just simple peer-to-peer transaction and as it is a cryptocurrency it cant be controlled by anyone.
however, a government can ban bitcoins.
a few countries have already banned bitcoins but that didnt have a greater effect on it and still bitcoins is growing stronger and its prices keep on increasing.
however, a government can ban bitcoins.
a few countries have already banned bitcoins but that didnt have a greater effect on it and still bitcoins is growing stronger and its prices keep on increasing.
Well, of course because bitcoin isn't handle by the government. So, if there any single thing that opposite with the governments rules will definetly get ban, it sames like you broke the rules you get the punishment.
And this is being happened all around the world, just see there are only few countries, you can count them on your fingertips, and they have allowed their citizens to use bitcoin in that country. Else, majority of the governments in all countries have just banned bitcoin. Reason is quite simple and you have already told that, things are against the nature of government policies, so they banned it.Well, of course because bitcoin isn't handle by the government. So, if there any single thing that opposite with the governments rules will definetly get ban, it sames like you broke the rules you get the punishment.
And this is being happened all around the world, just see there are only few countries, you can count them on your fingertips, and they have allowed their citizens to use bitcoin in that country. Else, majority of the governments in all countries have just banned bitcoin. Reason is quite simple and you have already told that, things are against the nature of government policies, so they banned it.
A government can only pass a law on its people against the use of Bitcoin. It cannot ban Bitcoin from gaining assess.
Perhaps Bitcoin may be banned at the country level. But for some country to somehow affect other countries. no. This is impossible in principle.
Governments of individual countries can completely prohibit the circulation of crypto-currencies in their country, and some countries have already done so. So, most recently, on December 18, bitkoyn was completely banned in Kuwait. There, apparently, were frightened of its sharp rise in price. However, judging by the situation with the ban on crypto currency in China since September this year, such a ban is ineffective, since the state can not fully control its ban. After all, there is a crypto currency on the Internet, and it's not so easy to ban it.
Yahh
any government can banned bitcoin in anytime.But they can't stop bitcoin anymore.Beacuse i know that bitcoin cannot die.Bitcoin is one of the top cryptocurrency in this world.Nothing can stop it.thank you.
any government can banned bitcoin in anytime.But they can't stop bitcoin anymore.Beacuse i know that bitcoin cannot die.Bitcoin is one of the top cryptocurrency in this world.Nothing can stop it.thank you.
I am not sure how they would, maybe some countries that have control over the Internet but in the West? How would they even start.
I always thought this was the best part of crypto, if you live in Greece or Zimbabwe you probably don't have alot of faith on your government or currency.
I always thought this was the best part of crypto, if you live in Greece or Zimbabwe you probably don't have alot of faith on your government or currency.
they can, but they just can banned bitcoin in they country
yes they can but they are quite difficult to prohibit bitcoin running in the country-state. so the news that has been circulating about bitcoin is sometimes true, and sometimes not true or hoak. so it's up to you to believe it or not it's our right.Based on my humble knowledge about government rulings here in our country, yes there is a possibility that they can ban bitcoin since they have all the control over what is legal or illegal transaction in accordance with the law. However, bitcoin is decentralized and it will take a long process before they can totally ban it but they can suppress or limit transactions if they want to.
they can, but they just can banned bitcoin in they country
yes they can but they are quite difficult to prohibit bitcoin running in the country-state. so the news that has been circulating about bitcoin is sometimes true, and sometimes not true or hoak. so it's up to you to believe it or not it's our right.Based on my humble knowledge about government rulings here in our country, yes there is a possibility that they can ban bitcoin since they have all the control over what is legal or illegal transaction in accordance with the law. However, bitcoin is decentralized and it will take a long process before they can totally ban it but they can suppress or limit transactions if they want to.
they can, but they just can banned bitcoin in they country
yes they can but they are quite difficult to prohibit bitcoin running in the country-state. so the news that has been circulating about bitcoin is sometimes true, and sometimes not true or hoak. so it's up to you to believe it or not it's our right.Jump to: