Can any government ban Bitcoin? - page 8.

willybacem

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Quote from: Superways on March 26, 2018, 05:19:16 PM

Quote from: qtronix on March 26, 2018, 04:58:28 PM

Of course, the government can prohibit the use of bitcoin in the territory of their country. And we can hardly do anything. I can only hope that this will not happen in my country.

the government can only announce the ban in the country but they cannot have any control on it and on the users and they do not know that who are using bitcoin and who are involved in it in their country. As bitcoin is an anonymous and decentralized currency. In the past many countries have imposed the ban but they failed to continue that ban for longer as they do not know the users and the users can easily use it online for their online uses and they can exchange them for any currency with any user of bitcoin.

Agree with the opinion submitted by you. The number of Bitcoin users is now rampant, the government will be distressed if it will eradicate the use of bitcoin in their country territory. Moreover, the use of bitcoin with anonymous, they will increasingly difficult to overcome. The government can only announce its prohibition and disagreement on the use of bitcoin but cannot go directly to eradicate.
With any ban, I think bitcoin users will not care about the ban and they will still use bitcoin as usual.

Adamant06

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Quote from: qtronix on March 26, 2018, 04:58:28 PM

Of course, the government can prohibit the use of bitcoin in the territory of their country. And we can hardly do anything. I can only hope that this will not happen in my country.

Definitely yes, any government can ban bitcoin. Because we live in a world where different countries want to compete for business to better their economic situations. As long as government wanted it theres nothing we can do unless bitcoin will be legalized.

tungaqhd

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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 government ban bitcoin now, they just give more strict rules for bitcoin and crypto currency.
This happend in China, they ban ICOs and close many exchanger.

rainezerr

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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 they can, governments today are so powerful and they will do anything just to milk money from people if they are really corrupted and that is the reason why some of the governments are afraid of cryptocurrency growth because most of the people choose to trade in the market more than working on the corporate world.

justyourkuya

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Perhaps if the officials are not open to the advantages of bitcoins and other cryptocurrencies and to the thing it can bring to people's well-being. I guess government in some certain countries is already discussing how to regulate digital currencies and transactions to make it more engaging.

raidarksword

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Yes, the government can ban bitcoin from entering into their economy and preventing the citizens to adopt and use bitcoin but one thing they cannot do is controlling it. They may ban bitcoin but they will never stop the ideology of bitcoin. I have read some reports that even if china banned bitcoin still some citizens still investing on bitcoin, so the government can never control over it.

sicnarfkswiss

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Yes if they will, they can. They have the authority to ban everything that is coming to their country, but this will not gonna happen to all countries because many countries are now accepting bitcoin as part of their economy.

kimberlymingi

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Maybe that could happen, specially when it comes to the point that almost all the people in a country rely their income in bitcoin. I mean.. We all know that bitcoin has no tax and government might think that it may lead to lesser income for them specially when people doesn't want to be employed anymore because they rely to much in the salary they get through bitcoin.

juiceannabel

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government in some country may banned bitcoin, but not all countries.
the thing i don't understand is, why they banned bitcoin? it is not bitcoin that illegal.

PalindromemordnilaP

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There is clearly a possibility that this may happen, but at the moment I too believe this is highly unlikely, and that things will stay relatively the same.

Yes but government is government. They have the highest authority on the land (country) so they can impose their will anytime they want based on the governing rules that they have. Others band bitcoin and crypto because they found it that it has negative effects on their economic development.

rickyNmorty

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Yes they could. However, bitcoin abd tge cryptocurrency industry couldn't be banned worldwide. The first reason is because bitcoin supporters especially in the Asian countries would persuade their allies if the economic benefits of bitcoin. In addition, the fact that bitcoin is a virtual currency and is coming from the internet along with the anonymity feature it provides gives the people the power to object on a banning of bitcoin.

levvv

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any government can ban bitcoin, but they cannot fully banned.
if one country banned bitcoin, the users just need to use it from outside country or using international exchange.
Bitcoin is decentralized, i think no government can take fully control of it.

Coinnosaurus

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Actually any government can make it very difficult. if the government decided to ban bitcoin. 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.

Yur

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Absolutely yes they can. The government has the power to implement any laws in their jurisdiction. If they find it as a threat in their society perhaps they will find a way to prohibit the use of bitcoin. Some government tried to stop bitcoin but they failed. Bitcoin is becoming stronger as the time pass.

Games.Bitcoin

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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

This made me chuckle xD

yulionoo

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government can banned bitcoin just for their country, and they cant ban for other country. because it depend on their own country, and cant tak their bisness.
many country accepted bitcoin than they rejected. and i think, someday they will resonance to accept bitcoin. and maybe all of the world accept it. just wait for those time

Georgi99

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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?

The state can of course ban bitcoin, but the question is, will people really stop making money out of it? We live in such a century, the exit can be found from everywhere and to circumvent all bans! Of course, this may sound like illegal earnings, but laws always have their gaps!

Superways

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Quote from: qtronix on March 26, 2018, 04:58:28 PM

Of course, the government can prohibit the use of bitcoin in the territory of their country. And we can hardly do anything. I can only hope that this will not happen in my country.

the government can only announce the ban in the country but they cannot have any control on it and on the users and they do not know that who are using bitcoin and who are involved in it in their country. As bitcoin is an anonymous and decentralized currency. In the past many countries have imposed the ban but they failed to continue that ban for longer as they do not know the users and the users can easily use it online for their online uses and they can exchange them for any currency with any user of bitcoin.

Yatsan

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Unfortunately, they can. In fact, there are already countries such as China that banned Bitcoin exchanges in the market. But that's the only thing that they can. No government still can control Bitcoin or other cryptos that are decentralized. Moreover, even if one or more country ban cryptos, keep in mind that cryptos especially Bitcoin is being adapted by many countries given that its vast popularity has just began.

Coinnosaurus

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Yes - any government can ban Bitcoin. There was a time when holding gold bullion was a crime in America, punishable by a sentence of up to ten years in prison. The ban on owning gold remained in place for more than four decades, before President Ford legalized gold ownership.

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