Topic: Goverments to go AGAINST Bitcoin - page 13. (Read 3232 times)

Yes, it is highly possible. Some governments have already started to fight with Bitcoin. Unfortunately, some of them decided to ban it. However, these are extreme examples and only poor countries which have problems with inflation prohibit using of Bitcoin. Authorities hate Bitcoin because they can't control it (creating additional bitcoins). I doubt that any big country will ban Bitcoin completely. Even China wants to allow Bitcoin trading again.

I think for bitcoin to work and stuff(other currencys) big countrys or names have to get in the game. Like USA / Japan / China and stuff. Then others gonna follow. They always do.

There are already governments which are pro Bitcoin or open to Bitcoin, so I do not see a trend in Bitcoin rejection at government level.

Of course, if your government bans bitcoin you will be punished if you use it.
Anyway, few countries ban bitcoin atm so I don't think you should worry about it unless you're living in one of those countries.


If bitcoin ever replace fiat (printed) money they will be able to exchange it easily using smartphones, so this won't be a problem.
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Yeah i gota say i didnt think much of it haha. I guesss you are right.

Governments and politicians generally tend to opposite crypto money when it becomes harmful to their own profits or when they don't know how to treat such topics (lack of consciousness and knowledge)

Government want to control all kind of money circulance in there country so bitcoin not pay any tax to give government and government I'll not like bitcoin policy so as soon as government take action against to bitcoin system ,there are already countries who banned bitcoin other than the China also some countries are assigned bitcoin as a currency and one of them are Japan.Some government don't want Bitcoin to interfere there country Economy.

Maybe for the moment. Here's how this will play out,

Govt resistance > Mass uprising > Coup > Blockchain takes out Govt and banks and rules the world

There are counties who already banned bitcoin. But that isn't because of bitcoin will do something against them. Different reasons behind those banned and you can search for that by yourself if you really want to know more.

Don't want do go beyond discussion on these as your concern is the chances. Instead I want to say to you that don't mind those as if you will look at the outer picture, bitcoin is still reachable by majority of countries in the world.

Most likely yes. Because bitcoin will not any tax give government. Government will not like bitcoin policy.Government wants to control every kind of money circulation in their country. So as soon as possible government take action against bitcoin.

In order for the government to go against Bitcoin they will have to ban the whole internet of the country. There are already countries who banned bitcoin other than china, so this is just a normal event on the cryptocurrency world. Also there are some countries already who trusted bitcoin and make it one of their currency, and one of them is Japan, so rest assured, bitcoin will still live and will keeping booming as always and will sooner lead to revolutionary period throughout the world industry. Other factors the government can use to go against BTC is to Ban mining, ICO, Ban exchanges
etc.

For the moment bitcoin is not as mainstream as we all want it to be so it has not caught the eye of many governments except a very few that wants to put their dictatorship even to it, like Russia for example who threatened to put to jail persons caught using bitcoins a few months ago. There is a good article which you can read in Investing.com with the title: Bitcoin:The real Trump trade   for every one to read.

Major of the countries have not banned bitcoin yet. The reason can be that: 1. They are still don't think that bitcoin can be a problem for them (they don't belive that bitcoin have a future). 2. They are still trying to find out how to tax incomes coming from bitcoin, and after they don't have to ban it. This is better for the economy as well, and if they don't find any way to tax bitcoin they still have the possibility to ban it at the end. But I think ban is not the priority because it doesn't generate income for the government.

always be careful with governments, you never know the ideas of a political party


" Bangladesh

In a statement the Central Bank of Bangladesh cited concerns over bitcoin’s lack of “a central payment system” which could lead to people being “financially harmed”. It invoked the provisions of the Foreign Currency Control Act of 1947 and the Money Laundering Control Act of 2012. Then, added that trading in bitcoin and other digital currencies could lead to a punishment of up to 12 years in prison. "

" Bolivia

The central bank of Bolivia, El Banco Central de Bolivia said in a statement:

“It is illegal to use any currency that is not issued and controlled by a government or an authorized entity.”  "

" China

It is a common misconception that bitcoin and digital currency are totally banned and illegal in China, but China has become the world’s largest bitcoin trading market. The bitcoin ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government. Banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. Trading or mining in bitcoin is not illegal for common citizens.  "

" Ecuador

The ban by Ecuador makes the most sense of any ban, as they are building a national electronic cash system, so they feel the need to protect their new currency from something clearly superior. A decentralized currency of finite production that cannot be manipulated by governments or banks might dim the lights on their new program in the eyes of the public, which offers none of those benefits. "


"  Iceland

As of March 19, 2014 the Central Bank of Iceland issued a statement explaining the legal status of digital currency in Iceland. Purchasing them may violate the Icelandic Foreign Exchange Act, which specifies that Icelandic currency cannot leave the country. A nebulous designation, but it sounds like it is banned, in effect. "

"  India

Indian BankBTCXIndia was the first bitcoin exchange designed and built in India. While following KYC and AML guidelines, and allowing instant INR (Indian rupee) deposits and withdrawals, BTCXIndia was forced to close by their bank, which no longer services bitcoin businesses. The reasons are unknown, whether it is based on a perceived risk or just a simple ban by management, but the issue is widespread in India.

“We have today been informed by our bank that they will no longer serve bitcoin businesses,” the notice stated. “We have investigated the possibility to operate through other banks, but it seems this is a general policy in India as of today.” "

" Russia

Even with the recent legal victory in Ural recently, setting a legal precedent to lift the banning of websites related to bitcoin and other digital currencies, bitcoin is banned in practice, if not officially legal yet. With the Russian ruble rebounding, but still down over 30% from January 2014, banks and the national government aren’t looking kindly on those who are investing in other currencies, digital or not.

Gold purchases are frowned upon in Russia, so proceed with caution.  "

" Sweden

Bitcoin has suffered a small banning in the buying and selling of scrap metal and “waste products”. This sets a bad precedent of government interference for the future, but so far the ban is restricted to this industry by all accounts. "

" Thailand

According to news reports, the Bank of Thailand ruled bitcoin illegal on July 29, 2013. However, it appears “it issued a preliminary ruling that using bitcoins . . . was illegal because of a lack of existing laws” in the case of a currency exchange license application by Bitcoin Co. Ltd.

Bitcoin businesses have been able to conduct business and get licensing, but the ban technically is still there, if not in practice currently. "


" Vietnam

Back in February of 2014, Vietnam banned the virtual currency bitcoin for use by credit institutions, citing its ease of use for criminal purposes and its high risk for investors.

“Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment ” the central bank said in a statement "

There is 50-50% chances according to me because there are many countries which are wiling to accept the bitcoin while there are few of the countries which are against it already. Now why country to country acceptance is important? Because the reason is simple, the global economy of bitcoin is due to all countries investment into bitcoin or blockchain more specifically. If countries starts loosing the blockchain then we will loose the market.

Alos, few government mayn't be able to support the thing as we will need money to be flown form all over the globe for its complete redistribution. If that doesn't happen then supportive government will go against the bitcoin. There won't be another chance and hence unity of each and everyone is very important here.

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Yes you talk right because bitcoin currency will not any tax give government. All government want to tax all works. If any person  will not given tax so it is illegal.. Then the government wants to take action against those people.

Many governments in countries that are against bitcoins because they consider bitcoin to be very risky and view it as risky they think bitcoin economic change is impossible.

I think it is very likely that the government will fight bitcoin if their people overdo it using bitcoin, thus lowering the price of their country's currency

Yes, a government may go against bitcoin if they see it bad for them.. Governments usually like to control money circulation in their countries, other reasons may be using bitcoin for crimes because it's much harder to trace than fiat money


Of course, if your government bans bitcoin you will be punished if you use it.
Anyway, few countries ban bitcoin atm so I don't think you should worry about it unless you're living in one of those countries.


If bitcoin ever replace fiat (printed) money they will be able to exchange it easily using smartphones, so this won't be a problem.

Yes most of the country will not accept the legal way. It good helpful for the future growth and it will gather information. But some country accept the bitcoin legal way. So it good opportunity for the future growth. Bitcoin is become a future currency. So bitcoin will helpful to future improvement and investment. people growth is country growth so bitcoin will helpful for the future life change.