Topic: Can any government ban Bitcoin? - page 33. (Read 3343 times)
I think that government can only ban peoples means that only limited peoples could work on bitcoin or only limited peoples could have it but the government can not ban the bitcoin because it is a digital currencie not the currencie of government.
If government ban bitcoin it will only make bad effect to bitcoin for a short term, we cannot ignore that bitcoin is much better than cash or paypal or western union. Its so simple to use and the value is growing, people will always use it no matter what.
If any politico was foolish enough to propose banning bitcoin, a few friendly phone calls from major financial backers would be made to impress upon the politico the importance of blockchain technology and cryptocurrencies to the U.S. economy.
If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved.
Bitcoin is into limelight again as it broke the previous life time high and crossed $5000 mark convincingly, after the "China driven" meltdown.
Experts and charts suggest further upside potential for Bitcoin.
Ultimate resistance from Governments is yet to come.
Experts and charts suggest further upside potential for Bitcoin.
Ultimate resistance from Governments is yet to come.
Yes any government can ban the use of bitcoin in their country, it is their right and privilage to do so. But I think many countries are starting to realize the advantages of having a paperless currency and the future it holds and are now supporting it.
Some countries have already banned the possession and trading of cryptos.
In the US, a Bitcoin Regulation Act was incorporated into the Senate.
An undeclared possession or unreported holding of cryptocurrencies should be criminalized. After the IRS already pursues the transactions, now a reporting obligation for the possession of crypto currencies is to come. Exchanges must report account holders and transactions.
I do not believe that a direct ban will come in the US or Europe. But very strong regulations.
In the US, a Bitcoin Regulation Act was incorporated into the Senate.
An undeclared possession or unreported holding of cryptocurrencies should be criminalized. After the IRS already pursues the transactions, now a reporting obligation for the possession of crypto currencies is to come. Exchanges must report account holders and transactions.
I do not believe that a direct ban will come in the US or Europe. But very strong regulations.
There are therefore many governments have banned bitcoin, because they yet not be supple to deem a ways to control bitcoin . It is anonymous suitable it makes governments harder to reference case taxes concerning bitcoin.
It is possible that government can ban bitcoin because they have policies and regulation regarding the moderation of other currencies in their own country. But it is depends on the culture and guidelines of one state or country.
Yes sure any government has the right to banned Bitcoin or to legalize it, most of the government afraid that Bitcoin could ruin their economic, but banning bitcoin is not going to stop people to used Bitcoin, it is better for the government to adopt the Bitcoin rather than banned it, because Bitcoin is really useful for the citizen
Well it is possible that they can do that and ban Bitcoin but not totally ban to use by its people maybe they will only some rules and regulation regarding on how Bitcoin works.Any country in the world can ban Bitcoin in their jurisdiction but they can't really stop their citizens as there is so many ways to access Bitcoin if the people insist in using it.
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?
Then the government will need to control most of the computers in the bitcoin network, which is impossible to do.
Yes, as of now there are some countries already banned the bitcoin. They think that bitcoin industry can't help them to improve there economy because they don't know to whom the taxes will be collected and taxes are needed every country to help them to improve there economy.
Prohibition on bitcoins may occur. Especially if bitcoins have a bad effect on banks and people involved here. But now bitcoins are good for the people who use it. Because many of those who know bitcoins have the extra income they spend on their daily expenses. 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?
Of course governments can ban bitcoin, in fact there are several countries where bitcoin is totally banned and was declared illegal.
Bolivia http://www.ibtimes.co.uk/cryptocurrency-round-bolivian-bitcoin-ban-ios-apps-dogecoin-mcdonalds-1453453
Ecuador http://www.ibtimes.co.uk/ecuador-reveals-national-digital-currency-plans-following-bitcoin-ban-1463397
Kyrgyzstan http://www.nbkr.kg/searchout.jsp?item=31&material=50718&lang=ENG
Bangladesh http://www.telegraph.co.uk/finance/currency/11097208/Why-Bangladesh-will-jail-Bitcoin-traders.html
Nepal https://sanzeevdahal.com.np/bitcoin-banned-in-nepal/
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?
Government can control anything in any way possible and Bitcoin is not an exception. They might not care what Bitcoin was then until it gained popularity these past years. Some government in a specific country supports Bitcoin and some opposed and banned Bitcoin in their jurisdiction. Lately, we've seen what China did. It banned cryptocurrencies and it somehow shook Bitcoin [but in minimal, of course]. Government can ban Bitcoin but only in a specific range and not as a whole. This will only occur (the wide range of controlling or banning) when every single government and international entities do the unlikely, together.
That is possible but if they bans the bitcoin they will lose the opportunity to move towards the digital currency side. We found China bans bitcoin and Korea bans the ICO alone. These is taken action by the government to be safe the financial corporates to make money without the interruption of bitcoin. I think king ruling country will only works better than any government actions.
I think after 10 years we will find all the countries in the world accepts bitcoin as a legal currency everywhere. even in the next door shop near to your home also accepts bitcoin for sure.
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?
Government can control anything in any way possible and Bitcoin is not an exception. They might not care what Bitcoin was then until it gained popularity these past years. Some government in a specific country supports Bitcoin and some opposed and banned Bitcoin in their jurisdiction. Lately, we've seen what China did. It banned cryptocurrencies and it somehow shook Bitcoin [but in minimal, of course]. Government can ban Bitcoin but only in a specific range and not as a whole. This will only occur (the wide range of controlling or banning) when every single government and international entities do the unlikely, together.
Totalitarian regimes do everything to limit the economic freedom of citizens, but, in order to ban bitcoin, governments will have to ban all forms of communication
Yes.Any government can ban bitcoin.Recently China,Netherlands have banned bitcoin.Actually they don't want an alternate currency in their country.
Yes, as of now there are some countries already banned the bitcoin. They think that bitcoin industry can't help them to improve there economy because they don't know to whom the taxes will be collected and taxes are needed every country to help them to improve there economy.
I don’t think so any country can ban bitcoin because bitcoin is playing a very big role in economy of many countries and it have reduce unemployment as well in many countries so I think t sot of question that any country can ban bitcoin because if we see in last month’s here were some countries who make bitcoin legal in their countries and still more countries are trying to accept and make it legal and I wish it will be done fast because world need bitcoin. 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 they have the rights to banned any thing that can possible ruin their economy. Bitcoin can become threat to some country because of money laundering and huge amount of money transfer inside and outside the country.
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