Can any government ban Bitcoin? - page 30.

KingOfWinterfell01

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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?

In some way, the government can ban bitcoins in countries. Bitcoins were banned in China. They prohibited mining and, if I'm not mistaken, trading as well. They can hold or block wallet sites or exchanges to prevent movement in their country and possibly forever kill cryptocurrency in that country.

taiwww

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Can any government ban bitcoin? Already did. Bitcoin is a decentralised digital currency, government cannot stops its working or operations all over the world but they can prohibit their citizens from trading or investing in bitcoins. Indonesian government last month completely ban bitcoin currency in their country by having reason that bitcoin is affecting their fiat currency. Not only bitcoin China can bitcoin everything Facebook, Youtube, Twitter everything. Countries like USA, UK, India have decided not to regulate bitcoins.

shindymlk

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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?

why not? the government can do everything if they think bitcoin be threat to world finance. but not all of government, maybe just some government make bitcoin be ilegal not to ban this forum. i think like that

Ginos

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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?

In a fact they can, look what happen on Morocco, users may face jail for transact on crypto currencies.
Probably because they want to maintain their people as poor as theyr now.

RanieriClaudio168

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Government of a particular country may not endorse the legality of bitcoin but can never ban the uses of bitcoin what so ever. Bitcoin is decentralized and therefore no government have control power over it. Bitcoin trading is very common in the country not in support of it. So it will be very difficult to stop it uses.

SupportBitcoin

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They can try! Fortunately Bitcoin doesn't depend on the government so good luck stopping it.

Blueblade

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The government can ban bit coin. Bit coin can also be used to inform users of the use of illegal use.But it is impossible to completely ban the country.If the Bit coin is banned, there will be greater loss. The biggest losers are investors.Bit coin prohibits the number of users that are overwhelmed but can not be completely blocked.

anjaydut

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Of course, if the government does something serious that can break people's access to the internet. For example like in China, in the country facebook, twitter, google, istagram, snapchat, pinterest, website, e-book and video is not accessible
because the government in China has blocked these applications.
By that way, of course the government can block people access to bitcoin.
Nevertheless, China remains the largest virtual currency transaction center in the world.

kpcian

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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

Bitcoin has achieved a position in the monetary world. day by day Bitcoin is getting accepted in many online platforms, not only that but also Bitcoin has been transacting with the renowned exchange site. Bitcoin site can be banned by any country.

Though it's an internet-based platform so it's also easier to be controlled or regulated. It's also true that China has dominated in many websites platform and they are regulating almost every popular sites, China government approves only their own sites. So it would be possible for any country to regulate and ban any site.

pinoyden

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i think no. government cant directly block or ban bitcoin because bitcoin is built or developed to be a decentralized and satoshi nakamoto wants bitcoin to be fully independent so that no one can hold or manage it. however governments can ban those websites or online exchanges or anything related to bitcoin if they want to restrict it on your country but then again blocked sites can still be accesible if you will use a vpn or tunneling apps and proxies to bypass their firewalls and security.

hadveach

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it could happen, the government can ban bitcoin if there is something that can damage the balance of politics, social, and others. such as money laundering, terrorism financing. and made a crime. then the government can ban bitcoin.

toptek

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in one word

YES they can do it any time they want to will they ? More then likely NO ....unless BTC get to much value .

selectaselectine

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I-CHAIN - The Revolution of Digital Advertising

Well, probably, because they have more access and they have more power and control to the things that occur or happen in their country. And since, they are also the lawmakers they can make it happen.

Noesly

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In my own opinion, I believe bitcoin is very stronger cryptocurrency and no one can break that, I think there's no power to distract a bitcoin or ban the bitcoin the important we do is to to depends the bitcoin against to all haters.

NightCloudz07

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Quote from: Lmaooo on November 27, 2017, 03:38:58 PM

Bitcoin is not owned or controlled by any government or corporation. Bitcoin network is peer to peer and fully decentralized.

yes they just want to banned the bitcoin that the government can afford to disable and to banned it because they just have the ability to banned the bitcoin in a one country and the government only has control if they want to banned a bitcoin

CherRic

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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?

Right now, they can't stop nor ban bitcoin, its like the internet, they cant stop it. But we never know the future because now, bitcoin is at its peak, so they cant ban now.

jzale

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Yes of course, there are few countries that banned bitcoin. It is their right to do that if bitcoin will pose a big problem or can cause a threat to the economy. Though I have something for you to read. Here are some link as to why some Government will choose not to ban bitcoin.
https://www.quora.com/What-prevents-governments-from-banning-Bitcoin-or-making-it-illegal
http://www.zerohedge.com/news/2017-10-23/why-governments-will-not-ban-bitcoin

pugi2

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Quote from: Wulanayu on December 19, 2017, 10:00:53 PM

The government forbids bitcoin Huh

I think it's impossible for people to stop using bitcoins right away.
How can the government stop bitcoin, in what way? Bitcoin can not be penetrated, in track.
if in a country it is true to forbid it still bitcoin will continue to run behind a thick wall wall that will not be seen.
Drugs that are clearly prohibited by all countries until now can not be stopped, let alone bitcoin. Grin

I think bitcoin is possible banned by government. Because of the volatility too high and people hide from tax make government banned bitcoin. Why is it impossible? How if all of government banned bitcoin?

chocolaty

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Yes, they are capable. In fact, bitcoin is already banned in China. That's the last news I heard about China.

Wulanayu

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The government forbids bitcoin Huh

I think it's impossible for people to stop using bitcoins right away.
How can the government stop bitcoin, in what way? Bitcoin can not be penetrated, in track.
if in a country it is true to forbid it still bitcoin will continue to run behind a thick wall wall that will not be seen.
Drugs that are clearly prohibited by all countries until now can not be stopped, let alone bitcoin. Grin

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