Topic: Government ban on crypto - page 3. (Read 1280 times)
the issue of government restrictions on crypto has already blown, I think the ban is just an issue and will remain an issue forever, the proof is that if us ban bitcoin, of course they have done it many years ago, but the proof is that they let bitcoin continue to grow and will continue to be supported by big company, if the government wants to ban bitcoin, now I am sure it will be very difficult, because it is too late ...
There is a good probability Bitcoin could be outlawed, similar to when the U.S. government made it illegal for individuals to own gold (the Gold Reserve Act of 1934).
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This is why Bitcoin NFT might be a good idea:
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When it comes to banning bitcoin, the government can do that, without minding any of the things you have said. Yup, I have seen countries where there are politicians that are investing in Bitcoin but still yet their government banned it. The question should be whether the government banning bitcoin will be able to stop people from being used? The answer to that question is going to be a NO; even if the government decides to ban despite everything you have mentioned, it still won’t stop people from making use of bitcoin, that’s the power of decentralization.
If Bitcoin was centralized, then they will be able to take it down, and I believe they would have done that when it was starting newly. I believe the reason why they didn’t push too hard was because they knew they can’t stop it from being used since it can still be used peer to peer.
If Bitcoin was centralized, then they will be able to take it down, and I believe they would have done that when it was starting newly. I believe the reason why they didn’t push too hard was because they knew they can’t stop it from being used since it can still be used peer to peer.
I have heard this news for a long time now it is proven that the government cannot prohibit bitcoin, the price of bitcoin is getting more expensive, in 2018 bitcoin is cheap, the government is unable to prohibit it, especially now that bitcoin is increasingly in demand by the rich for investment so there is no gap to ban bitcoin.
With the growth and demand of people about Bitcoin is increasing. Especially investment funds, businesses, large organizations have been investing in Bitcoin. If the government now wants to ban Bitcoin. That is really difficult. If they want to ban bitcoin maybe they should decide a few years ago.
I'm not convinced Bitcoin would be banned in the USA. Gold has a market cap of 10-11 trillion dollars and it is not being banned. Bitcoin just touched the trillion dollar market cap. It will take decades to even come close to Gold's market cap imho.
Getting banned doesn't really matter what marketcap it has, the government can place ban on bitcoin for a stoopid reason, but even if they do place ban on bitcoin, it's never going to affect your bitcoin in your wallet, because the bitcoin is urs and no one can take it from you, also the government placing ban on bitcoin is a big joke, its just like locking a gate that has no fence 
, the citizens will still make use of bitcoin no matter how tight the restriction is in their country. 
I'm not convinced Bitcoin would be banned in the USA. Gold has a market cap of 10-11 trillion dollars and it is not being banned. Bitcoin just touched the trillion dollar market cap. It will take decades to even come close to Gold's market cap imho.
It's obvious that government can't ban Bitcoin, and it's very clear and understanding that point is very clear that government can only restrict their people not to work with cryptocurrency and it's only situation that this can affects cryptocurrency, so therefore even though a particular country raised against Bitcoin, definitely Bitcoin can never be in control by the government, because it's digital currency which works with it's principle and regulations of increments and decrement without support from anyone. 
It is very unlikely indeed that bitcoin is to be banned in the US, basically because it has already been recognized by the government. But in the off-chance that it is to be banned, Bitcoin will receive the biggest downfall it would ever receive ever. Although it's operations aren't centralized to the US. The most of people who show the promise of accepting bitcoin aside from Nigeria is the United States, so to lose a very prominent investor/supporter will definitely dump the price of bitcoin to big degrees.
No body can successfully ban Bitcoin, it's a decentralized system. Much have been invested in it and the US is home Major player of Bitcoin and Cryptocurrency at large. The government is left with no option than supporting the movement.
As it's said in the real world, "if you can't beat them, join them". Governments' efforts to ban or destroy Bitcoin have been futile to this point. They have no choice but to embrace it or be left behind in the dust. It seems that the proposed launch of CBDCs (Central Bank Digital Currencies) is a sign of governments admitting defeat to Bitcoin. Countries like India and Russia tried to ban Bitcoin without any luck whatsoever. It shouldn't be long enough before they open the doors for crypto and Blockchain tech to blossom.
As far as I know, governments can only enforce regulations through centralized entities. This means centralized exchanges, online wallet services (like Coinbase, Xapo, etc.), and third-party mixers will be subject to government regulations. Decentralized alternatives are free from this due to their widely-distributed nature. As long as Bitcoin and other cryptocurrencies remain decentralized and censorship-resistant, there should be nothing to worry about. Just my thoughts
No body can successfully ban Bitcoin, it's a decentralized system. Much have been invested in it and the US is home Major player of Bitcoin and Cryptocurrency at large. The government is left with no option than supporting the movement.
I consider the banning of crypto by some governments and financial institutions as "myopic". It is an inevitable improvement in the financial space and the world entirely, how can you ban such a wonderful evolution of finance and expect to be ahead in the financial space.
Have Argument in your post. If government want ban bitcoin always he can. But it only her country not it all world. If today some big country ban bitcoin in her state bitcoin price fall down. If you saw 2018 why fall down bitcoin price. Many country ban bitcoin like China, France etc.
United States is the country of freedom...if the government will decide to ban crypto this will be a meaningless decision and im pretty sure this will not happen...americans play a very important rule in crypto and they will not let this happen
That is correct. The US will never make any statement to abandon bitcoin or cryptocurrency. It will be their dead end. They have all the facilities to experiment new technologies. That is why many technology start-ups choose America and Silicon Valley to begin their journey However, regulations are necessary. Many people are being stolen their money without receiving any help from others. Authorities do not like this at all. The US government always want to protect their civilians from any harm. On the other hands, regulations give the authorities more tax. People might not like this at all but they have to do this because big companies can avoid paying tax by using cryptocurrency as a payment method
Governments or financial authorities can't control bitcoin as a result they don't like bitcoin as a currency. All governments want to control the financial matters of their citizens. But many people don't like it, they want some sort of freedom of their financial matters so they feel with bitcoin, they will get their financial independence. Seeing no other alternative, some governments have been considering launching their own crypto to counter bitcoin.
Human nature to see new things with suspicion but crypto is not new though, it came into existance in late 2009 more in 2010 but came into public mainstream media much later.
So the governments are run by the politicians but the country is run by the industrialists. As soon as they start taking a pro-crypto stance we can see changes in the governments stance, which is gradually happening in the first world countries, hoping that it reaches the third world soon because that is where crypto can really make some changes.
And lets put aside the conspiracy theories of how bitcoin can be removed, shutting down the electricity supply to a country means a huge loss for that governments and so that is not happening. Besides the governments know that its people use crypto, they only need to keep a watch to catch money launderers, thats all.
So the governments are run by the politicians but the country is run by the industrialists. As soon as they start taking a pro-crypto stance we can see changes in the governments stance, which is gradually happening in the first world countries, hoping that it reaches the third world soon because that is where crypto can really make some changes.
And lets put aside the conspiracy theories of how bitcoin can be removed, shutting down the electricity supply to a country means a huge loss for that governments and so that is not happening. Besides the governments know that its people use crypto, they only need to keep a watch to catch money launderers, thats all.
Governments will not want to lose a piece of the pie, as crypto has become a force to reckon with. Instead of banning Bitcoin and other cryptocurrencies from widespread use, governments can simply embrace them for their own benefit. It's possible to tax crypto for governments' own financial gain. As long as crypto can be properly taxed, there should be nothing to worry about. Even if governments decide to "ban" Bitcoin, they won't have much success because of its decentralized and censorship-resistant nature. They should've done something within Bitcoin's early days in 2009 in order to make it disappear from the face of the Earth. Now that it's too late to "ban" Bitcoin, governments will have no choice but to accept Bitcoin and other cryptocurrencies as legitimate mediums of exchange.
All in all, no one knows what will happen in the future. Governments could either go rogue against Bitcoin or friendly towards it. No matter what happens, Bitcoin and other cryptocurrencies will stand the test of time thanks to their decentralized design. While people won't be able to trade crypto as usual through a centralized exchange (because of the government ban) they can resort to other means in order to fully participate in the decentralized economy. With decentralized exchanges, privacy-oriented cryptocurrencies, and atomic swaps, one can achieve true peace of mind. That's the beauty of decentralization and censorship-resistance. Just my thoughts
Back in 2010 😂:
I'm also concerned about government banning it. Possibly one way to fly under the radar of government long enough to get established in the mainstream and thus make it politically expensive for government to intervene is to blah blah blah, blah blah, blah blah.
Remember that by writing exactly this sentence this is becoming public information... enabling governments to read this and step in earlier..
Better not to write about this in open forums (my opinion..)
Okay I've edited mine, now you have to edit yours!
I'm also concerned about government banning it. Possibly one way to fly under the radar of government long enough to get established in the mainstream and thus make it politically expensive for government to intervene is to blah blah blah, blah blah, blah blah.
Remember that by writing exactly this sentence this is becoming public information... enabling governments to read this and step in earlier..
Better not to write about this in open forums (my opinion..)
Okay I've edited mine, now you have to edit yours!
I am really that surprised that there are countries who wants to ban Bitcoin and cryptocurrency in general. But what they don't know is that Bitcoin cannot be regulated lest controlled by anybody. Not even the Big Finance can do anything to make Bitcoin disappear. It will just make people be more aware of the existence of Bitcoin and more and more people will use it and invest on it. So in a sense, it is a losing game for the governments.
As OP stated, banning bitcoin at least in the US is very unlikely. But in the off chance that it is to banned, bitcoin will suffer significant losses. As most of it's high-rollers are situated in the US, and will be forced to cash-out or risk losing their money in the process. I can expect that it can even spark a panic sell which will definitely dump bitcoin's value, down to something that I highly doubt it can recover from. Even in the crypto world, the US still holds the best cards apparently.
Making it illegal does not ban bitcoin, but would rather show that they are a totalitarian government, albeit an incompetent one, since stopping Bitcoin is much more complicated than winning the drug war.
What are your thoughts?
Nah, don’t say that the government can’t ban cryptocurrency, they can do that anytime they want to do it, the thing that most people are going to do is get angry, even the Elon Musk you mentioned can’t do anything about it except just to be tweeting on Twitter and he wouldn’t tell the government what to do.What are your thoughts?
I am not saying that the government is going to ban bitcoin, I am just trying to let you know that there is the possibility of them banning it if they want to. But then if you look at it the other way round, if they ban bitcoin it doesn’t still stop people from making use of cryptocurrency, because they are going to continue making use of it and they will do that through p2p, just as what happened in Nigeria where p2p became the next big thing that everyone faced.
With a bitcoin ban, governments force individuals to transact in the shadows illegaly, not producing any income from taxes to the country. It's definitely not interesting for them.
Bitcoin is normal investment someone can adventure into, that's the reason most prominent people in the society likely to go into it currently, so government banning cryptocurrency, whenever I hear such I laughs because I noticed that government can't ban crypto because people in government don't have power over crypto, they can only restrict it movement or popularity in their country not in any other country, restrictions is different from bad, people misunderstood the point between ban and restrictions, Ban simply means it can never exist again across the continent, while restrictions means eradication for a specific place or a country, which other countries will partake on it with willingness, so the difference is very clear.
I believe the lack of sophistication of some people about the major concept of Bitcoin is the reason why some people thought the government can actually ban Bitcoin and the last time I checked Bitcoin posed total liberation from the government. Besides, people from countries like China still trade/invest in Bitcoin despite their government stance about it. Jump to: