Can any government ban Bitcoin? - page 27.

worle1bm

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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?

As everyone knows it is decentralized currency and not owned and controlled by anyone so government can ban it but they cannot stop persons to use it.Although they can issue a law making its usage illegal and sentence anyone using it but they cannot control this currency.

thenameisjay

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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?

No. I can't see any government banning bitcoins itself but banning bitcoin transactions are very doable and possible. They can halt bitcoin flows in a country or even ban exchange websites. I think the Chinese government has done this that's why China's bitcoin activity has been halted.

otomakansotas

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Govt. can ban Bitcoin by instructing ISPs to ban bitcoin protocol.
Very easy to do.
Some othe alt-couns use TOR & I2P which make them more
Resilient to such bans.
But bitcoin ban can very easily be enforced by a govt.

JohnBitCo

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I think they can't ban the bitcoin since its decentralized and not in under control. Same in china, they banned the use of ICO but not bitcoins. Government have all access on internet they can ban some sites, I think they'll first target block chain and some wallets sites. They know only wallets can help bitcoin users to store there money but then people can use proxy and still access their coins.

Sum24

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Quote from: Rossy Akbar on December 23, 2017, 11:32:21 PM

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.

China and Indonesia ban bitcoin but nothing happen to bitcoin it’s still very popular and strong then ever its users are going to increased day by day and some of the countries make bitcoin legal bitcoin is also playing a very big role in in economy of many countries and it also reduces unemployment in many countries so world know how bitcoin is important for them so I don’t think so any country will ban bitcoin because its helping to everyone.

iqlimasyadiqa

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Quote from: pathapoddo on December 24, 2017, 01:53:31 AM

Bitcoin is already banned in many countries government. But though it is ban, government can't do anything because Bitcoin is so strong and it's price is so attractive. Bitcoin is attracted to the people. So,Bitcoin is best.

It all depends on how the government responds to Bitcoin. When Bitcoin is considered a dangerous thing then the government will take tough actions like Bitcoin's ban. But when the government considers that Bitcoin can help the economic development in the country then Bitcoin will be free to use. But if Bitcoin is banned then we can still use Bitcoin, although it can not be free but we can do various transactions easily.

unknown-user

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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?

Well, I think it is possible. There are already countries wherein Bitcoin and other cryptocurrencies' transactions are banned such as in China so it is not impossible for other governments to do the same thing. But the thing that is not possbile is for government to control Bitcoin since it is decentralized in nature

Stooked

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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, when government see any things against it’s rules and may make dangerous against it will ban it.

bitcoin more than governments ban and will never effect in bitcoin

yopaa

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This form of attack is the most feasible, time tested way to attack Bitcoin. Laws can be made by governments to either support Bitcoin or to destroy Bitcoin's acceptance. Democratic governments like Australia, Switzerland etc have regulated Bitcoin, which helped more mainstream adoption of Bitcoin and other cryptocurrencies. But authoritarian governments like China have implemented laws to directly attack Bitcoin.

This is done by implementing anti money laundering laws to ban entities that allow Bitcoin to interface or exchange with the "real" (non-Bitcoin) world. We have seen from the price history that Bitcoin market is negating such events in long run as it anticipates much movements from authoritarian governments. But if a similar movement from USA or Australia, would damage the whole crypto space.

So in nutshell, a rich, powerful, hostile government could probably do quite a bit of damage to the Bitcoin economy, even if they cannot actually touch the technical foundation of the cryptocurrency - the blockchain.

cx_primo

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Some government that thinking for sureness and not coming to their country this program maybe they dont allowed it. Because they dont anything about the deeper program of bitcoin.

pathapoddo

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CRYPTOCITIZEN $CCASH

Bitcoin is already banned in many countries government. But though it is ban, government can't do anything because Bitcoin is so strong and it's price is so attractive. Bitcoin is attracted to the people. So,Bitcoin is best.

daenarys_stormborn

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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?

I think the government may have tried to find a way to control bitcoin transactions, but until now the government still has not found it, it is likely the government can baned bitcoin if it has found a way to control bitcoin, but I believe it still takes a long time

Naitik

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I too agree with your question, But we really need to study how and why government want to ban bitcoin.
Bitcoin is going stronger and stronger and lots of peer added their investment everyday in the bitcoin.
Government should have to give the proper explanation why they want so.
If they could not give us the significant reason, a violation situation will occur.
till then government will do nothing, lots of employement is now depend upon bitcoin.

kriticko29

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Yes they can and they can also put taxes into bitcoin transactions. Bitcoin can close banks and put economy down because of that but if government sees the good in bitcoin they can use it to sustain economical growth.

weblouartisan

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Lets Go Adab

Yes it is possible for bitcoins to be banned by the government. There are a lot of countries who are banning bitcoins because they are avoiding problems like illegal transactions, Most of the government are avoiding drug laundering or selling of guns and it is sad to say but this is all possible with bitcoins.

Mr.John19

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Absolutely Yes! Government have the power to regulate the financial system in their area. And if there are enough complain about people getting scammed in ICO or any related event in relation to bitcoin or cryptocurrency, the government could issue a warning and then total restriction to doing business is the said technology. There are four countries as I could recall that ban or prohibit using, trading and mostly mining bitcoins.

Rossy Akbar

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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.

Pink Panda

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Now here in our country .our government and banks are slowly enclosing those who are have accounts on banks that have related or having a withdraws or deposits using bitcoin..Dunno what their reason or their strategy ..maybe they are afraid of bitcoin now..but Im afraid that bitcoin will be fully illegal in our country..it is bitcoin is our income and financial support.and even our way to succeed our dream

Xenophoto

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I am happy to announce to you guys that the government cannot ban bitcoins. Bitcoin resides on the Internet and the Internet is open for all. You can do whatever you want but it's possible that it's not the case anymore because of the removal of Net Neutrality.

Right now, though. The government simply cannot do anything to effectively ban bitcoin. One thing that they might do though is to put tremendous tax on exchanges. But even that might still not work out because obviously there will be a country that's going to be bitcoin friendly and not put huge tax on bitcoin cash outs. Bitcoin businesses are just going to move their agency there and that government will make money from them. It will be a winwin situation and it's nothing but loss for the government that shoo-ed away bitcoin companies.

pekobites

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0x88628bf14F2391707bA9d1767f83c694Efd2a8B9

They can try

But they can't stop it

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