Can any government ban Bitcoin? - page 29.

appiivenkii

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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 one can ban Bitcoin...Only thing Govt can do is to ban the exchanges in their country.... So no one can liquidate it for Fiat..But who cares

EtherATM

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Quote from: joanshu on December 23, 2017, 12:59:28 AM

Btc is not associated with any government and it is just a digital currency which is being used world wide and so i don't think that government can ban btc.

Although government and bank central can't be controlled bitcoin but i think they still can ban bitcoin. In fact, some countries is banning bitcoin as Morocco , Nepal, Bangladesh, Kyrgyzstan, Bolivia, Ecuador... The government of Nepal has arrested all people who related to crypto currency trading recently. If all countries is like Nepal bitcoin will die.

oaz7t

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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.

kokobaba880

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Bitcoin is the crypto currency which is beyond the control of the government. Bitcoin give us the opportunity to earn money is is not easy to control by a person or country individually because it is the internet based currency and it is not that much easy to control it. people have to transfer their amounts from one country to another without any restriction.

btccointalk

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Bitcoin is not controlled by any Government or organisation....I think no Government can ban bitcoin.

Scor1937

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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.

Weaklies

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Quote from: setifien19 on November 27, 2017, 03:50:36 PM

To be more specific, governments can just forbid the use of Bitcoin and cut the access to bitcoin exchanges and wallets in their local area , they can not ban bitcoin since it's treated in a decentralised way ( the is no control )

Yes, I agree with you too. Slowly the use of Bitcoin is increasing. If the market price is not the same, neither the government nor the coma will be able to make it vane. And I do not think that the use of Bitcoin will decrease the market value as long as its usage will increase. In the meantime, many companies are trading through Bitcoin. I think the government will make bitcoin open all over the world.

AndrewBoltz

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Quote from: Danglen1010 on December 23, 2017, 01:22:22 AM

yes goverment can ban Bitcoin..especially bitcoin is no tax..our government very strick for tax..when u earn money u need to pay taxes how come if u earn a small amount .. and they know government will loose money ..i hope our country do not band bitcoin.

Government always want to take control of everything even in bitcoin. Lucky for us bitcoin was invented as decentralized and no regulations. That is what the government is opposing.

Danglen1010

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yes goverment can ban Bitcoin..especially bitcoin is no tax..our government very strick for tax..when u earn money u need to pay taxes how come if u earn a small amount .. and they know government will loose money ..i hope our country do not band bitcoin.

AndrewBoltz

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Quote from: joanshu on December 23, 2017, 12:59:28 AM

Btc is not associated with any government and it is just a digital currency which is being used world wide and so i don't think that government can ban btc.

It is already happening in other countries where they ban the use of bitcoin. But i guess the people can't be stopped using this currency, not even the government can do about it.

joanshu

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Btc is not associated with any government and it is just a digital currency which is being used world wide and so i don't think that government can ban btc.

sarfwr

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No government can ban bitcoin altogether, since there will always be countries that will support bitcoin, so this is the benefit of decentralization. That's one of the reasons I love bitcoin.

AndrewBoltz

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I don't think it will crush the economy. In some ways, it can help grow an economy of a country. Some governments do accept the existence of bitcoin. But when politics comes, I'm sure bitcoin will do suffer.

Vikingr

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Quote from: sirkings0003 on December 19, 2017, 12:35:39 PM

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. Government of any country can ban bitcoin use in their country. But the bitter truth is that they will not succeed as far as internet remains.

Bitcoin is as good as the internet.

Yeah it is true that any government can ban Bitcoin in their country. Like China ban Bitcoin in their country. Actually Bitcoin is digital currency of independent quality. So some government feels that there is no control over the transaction of Bitcoin. They lose their control on companies and businessmen that is why they stop Bitcoin in their countries. Another reason is that the Bitcoin is crush the economy or value of their currency.

orka39

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Quote from: jinksters09 on December 20, 2017, 12:16:21 AM

Yes of course especially if the officials of the government with corrupt, and greedy mind who wants to take full advantage of the transaction happening in bitcoin. This speculation of your could happen anytime, with their schemes and evil plot.

Agree if the company or government with corrupt people will try to ban bitcoin anyway.
And government which look at the bitcoin just in bad hole, without care with the pros of bitcoin, they will also try to ban bitcoin because they want to protect their citizens.

AndrewBoltz

newbie

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Yes of course, it is already happening in some parts of the world. Their government are afraid it could change their economy in a bad way not thinking the benefits of bitcoins give us.

jinksters09

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Yes of course especially if the officials of the government with corrupt, and greedy mind who wants to take full advantage of the transaction happening in bitcoin. This speculation of your could happen anytime, with their schemes and evil plot.

CryptoScorpio

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Quote from: User365 on November 27, 2017, 03:25:59 PM

Yes, of course, this can occur, but I think it is very unlikely right now.

EU will Not Regulate Digital Currencies like Bitcoin: http://www.newsbtc.com/2016/01/26/eu-will-not-regulate-digital-currencies-like-bitcoin/
Federal Reserve Chair: US Central Bank Can't Regulate Bitcoin: https://www.coindesk.com/federal-reserve-chair-us-central-bank-cant-regulate-bitcoin/
China: Banned facebook, twitter, snapchat, gambling, people in the Chinese military are not allowed to access the internet, google,... So I think it is an achievement for BTC that it is "banned" in China Cheesy

Great read.Thank you. And Cryptocurrency will overtake stocks marketcap and could be bigger than stocks and eventually Choyna feel bad again as it did the same mistake avoiding google, facebook and twitter.

arrmia11

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Actually yes, any government could ban bitcoin just like the government of China. Although we admit that bitcoin can give us a lot of advantages like easy and smooth transactions but on the other hand bitcoin can also use as a means of transactions of illegal things.

Dmitry.Vastov

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Yes,government can ban bitcoin. In any country government is in the highest postion and any company bound to take permission from government in order to start business. In many country bitcoin is acceptable while in some countries like china Bangladesh, Ecuador etc it is declared as illegal and their government ban it. Bitcoin is Decentralized it means it doesn't under control of government. This is the main reason behind ban of bitcoin. Many illegal activities are also happen by the help of bitcoin so this could be another reason of banning bitcoin.

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