Topic: Can any government ban Bitcoin? - page 9. (Read 3343 times)
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.
All that can not be controlled, provides a threat. That's what the government thinks. But I believe that this is not the case with bitcoin. It carries only positive qualities and should be used by people in every country.
It seems to me that many rulers do not want to allow the use of bitcoin, as it is decentralized, and consequently, control over it is excluded. It scares them.
This is quite possible, but I hope that the government will be more literate and advanced than we believe, and will enable bitcoin to develop.
Yes I think any government can ban bitcoins.it all depends how do looking at it.If it is a threat to them they will definitely ban it.
Every government could ban Bitcoin officialy and prohibit usage of cryptocurrencies, but let's be honest, how would they discover that someone is using them? Tor network has grown a lot, it wouldn't have any problems with handling data from Bitcoin and other cryptocurrencies wallets. Also, is there any benefit of banning Bitcoin? It will only make cash outs more difficult, people will continue to use cryptocurrencies. In my opnion it's too late to stop them from expanding. I understand why they are so reluctant, but it's too late.
Bitcoin is the crypto currency and it is beyond the countries boarders. it is not in the hands of any government if governments have any control regarding to ban bitcoin they will not allow it in the world. and the bitcoin will not survive for this much time. Bitcoin is the internet based currency and the governments has no control over it in the present time. I think the government in the future will allow bitcoin in our country because the governments officials have now invested their income for high return.
Yes, it is very easy for any country to ban bitcoins and other cryptocurrencies. But, by doing so, the government will feel the risk of Money Laundering. Suppose in a country approximately 5 million people are holding a bitcoin. Now, suppose that government decides to ban it. This would land people in a difficult situation and they would do everything possible to get their money back. So, people will start looking for alternatives. The money which was supposed to be withdrawn from local exchanges would now be sent abroad and withdrawn from their exchanges in foreign bank accounts. This way, a country's money would go abroad, and hence, there would a loss in economy.
So, even though banning Bitcoins sounds easy, but it is actually a herculean task and no government would risk doing that without getting into details.
So, even though banning Bitcoins sounds easy, but it is actually a herculean task and no government would risk doing that without getting into details.
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?
Not the way that everyone else will imagine it but I think yes, it is true that a government can decide to ban bitcoin and any other cryptocurrencies within its power and control over the citizens of the country. The government can stop the industries (both local and international) from including cryptocurrency in their payment method and transactions as long as it concerns the limit of the nation's economy. But not the private online transactions where is more popular for me.
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?
I think the government can ban bitcoin, the government has a myriad of ways to make negative news about bitcoin, and forbids its people from using 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?
I know that surely you are thinking about those countries who banned bitcoin but here you should think about the reality that why they banned and also here you will get idea easily that if there is any chances that they can ban it or not .Can the government of any major country step in and do the unlikely?
Try to see the list at the Google about those countries who banned the bitcoin use and at another side try to find the countries who legalised bitcoin to use .
You will found a simple type of things , the countries who banned bitcoin are lower powered and small by Economy like Bangladesh and Nepal and at another side who allows people to use bitcoin directly are big economic countries like Japan , Australia , USA etc .
So I don't think there is any more chance for another those countries who can ban bitcoin Because in the current time most of the countries are better by Economy power .
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?
It could be that at least the government will set bitcoin as something illegal so many of the people will leave bitcoin if they are afraid of the policy and are very obedient to the punishment stipulated by the government. Can the government of any major country step in and do the unlikely?
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?
really dont think they can ban it cos bitcoin is an online financial system in which the government cant really tell who and who is on the system..... except if they are ofcourse planning the banning of internet, which ofcos is not possibleCan the government of any major country step in and do the unlikely?
Any government can officially ban Bitcoin, however, why should this be done? Many governments have recognized already that bitcoin and crypto-currencies
do not threaten the stability of the global financial system. On the contrary, more countries recognize bitcoin as a means of payment.
Japan did it last year, Germany - this year. I think the tendency of governments is to use bitcoin and other crypto-currencies to generate additional revenue.
For example, they will tax miners, receive commissions for transactions, withdraw crypto currency into fiat, and so on.
do not threaten the stability of the global financial system. On the contrary, more countries recognize bitcoin as a means of payment.
Japan did it last year, Germany - this year. I think the tendency of governments is to use bitcoin and other crypto-currencies to generate additional revenue.
For example, they will tax miners, receive commissions for transactions, withdraw crypto currency into fiat, and so on.
Any country’s government can just make a rule to not to use Bitcoin and cut the access to bitcoin exchanges and wallets in their country but it is not possible to band bitcoin because it’s not controlled by any government Bitcoin network is peer to peer and fully decentralized.
Yeah government can ban bitcoin so the people in their country can not use it. But the best thing is bitcoin can use in other country where it can not be banned and it can still be used by other people.
Any country’s government can just make a rule to not to use Bitcoin and cut the access to bitcoin exchanges and wallets in their country but it is not possible to band bitcoin because it’s not controlled by any government Bitcoin network is peer to peer and fully decentralized.
It is possible for any government to ban bitcoin.The ban could mean transactions like payments and exchange of bitcoin will no longer accepted in their country.People can no longer use the digital currency within that country's economy.Yes,government can harm the bitcoin economy.
I do not think that this will really possible. The are many gouverments on this planet who try to censor the internet. But the problem is, there are many people who look for the challenge to bypass this censorship. So maybe the gouverments spends thousand of dollars for their ceonsor software, but the people are mostly smarter. They work the give freedom to the people, and thats why they always find a way to bypass those prohibitions. So they can try, but as long as they are good hackers available, they will never have a chance.
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 )
Probably government can do what they want as if they have power rolling by country but, bitcoin goes out with helping people financially and earn day by day. But government can't afford to do that way so why did they make a move that can make them in trouble? Also bitcoin has a lot of bigtime investors. And it makes daily livibg easy and profitable by way of digital currency.
They can make it very hard for you to withdraw the money from many exchanges which happened to me in my country.
If all the banks refuse your exchange's money from your bitcoins sales, that's it, you are completely stuck.
And yes governments have the power to ban anything they like as long as the public does not fight back and shows anger to the move.
If all the banks refuse your exchange's money from your bitcoins sales, that's it, you are completely stuck.
And yes governments have the power to ban anything they like as long as the public does not fight back and shows anger to the move.
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