Government ban on crypto - page 4. | Bitcointalksearch.org

Vishnu.Reang

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Quote from: thirdkiller on April 08, 2021, 08:53:27 AM

What is the attitude of the government of India to crypto now?

Wait for 3-4 weeks. State elections are going on in India, and some of the states with large number of cryptocurrency users are taking part in this process. So for now the regime has put a hold on their plans to ban the ownership of cryptocurrency. And the best news is that the current session of the parliament will end today. The next session is scheduled for August 2021. So before that I don't expect any major movement on this issue. And right now there seems to be disagreement between the bureaucrats (who are in favor of the ban) and some members of the governing party (who oppose such move).

thirdkiller

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What is the attitude of the government of India to crypto now?

kopijos

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the times and the population of bitcoin is getting more and more popular, it seems unlikely that bitcoin will be banned. including the US will not easily ban things that provide profit, I just believe the government can only have a limited number of rules to regulate bitcoin around the world, but that is the regulation according to the government of each country. because bitcoin does not have a centralized system so it will not be able to easily ban bitcoin in any form.

TheUltraElite

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Quote from: best123 on April 07, 2021, 03:45:22 PM

Banning of cryptocurrency is as old as cryptocurrency itself. Instead of seeing this coming true more influencial people are getting on board coupled with institutions.

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.

MIner1448

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The more bitcoin hype goes around the world, the more there is a desire to regulate it by the governments of different countries. After all, in fact, in America, when money was handed out to people in connection with the pandemic, we saw bitcoin jump, I think the entire population invested in bitcoin and the government did not like it very much ...

AndySt

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Quote from: Hobo66 on April 07, 2021, 01:06:35 AM

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

On the contrary, most rich people who make investments in cryptocurrencies are willing to pay taxes on these incomes and are unlikely to want to spoil relations with the state authorities on such an occasion. Some concerns about cryptocurrencies may raise monetary policy issues, because governments are used to acting and responding to situations in a certain way and cryptocurrencies do not fit into the usual way of doing things. Therefore, governments are more willing to accept cryptocurrencies as property than as currency.

GeorgeJohn

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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.

best123

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Banning of cryptocurrency is as old as cryptocurrency itself. Instead of seeing this coming true more influencial people are getting on board coupled with institutions.
I don't see ban coming true, to me cryptocurrency has come to stay.

justdimin

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Quote from: ConnerDalfino on March 26, 2021, 02:15:50 AM

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.

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.

abderrazak belkhir

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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

Argoo

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Quote from: Ludmilla_rose1995 on March 31, 2021, 02:31:46 AM

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

Most states have not yet finally decided on their attitude towards cryptocurrency, and even those that have done so may still change their attitude towards it. Therefore, in the future, everything is still possible. I think that over time, states will regulate the circulation of cryptocurrencies more stringently, but whether there will be an attempt to ban them, this will depend on many factors that are now impossible to predict.
Now the attempts of some individual states to ban the circulation of cryptocurrencies have not been crowned with success. However, if such a decision is made, say, at the G20 level, it will be much more difficult.

Lorence.xD

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Quote from: Hobo66 on April 07, 2021, 01:06:35 AM

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

They can do it, some developed countries will do everything they can for people to pay their taxes, yes there are some that slips through the cracks but if the money is right and they really hate that person, they will do everything in their power to make sure that person pays taxes but I digress, the reason that bitcoin is banned might be because of the old belief that it is a medium of exchange in the underground economy which is somewhat but not entirely true.

fauzan123

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Quote from: pixie85 on March 30, 2021, 04:17:27 PM

Quote from: Mr.sprin on March 26, 2021, 09:19:31 AM

governments all over the world ban bitcoin and this is not new and bitcoin is increasingly in demand. Big investors have jumped into the world of crypto and they are collecting bitcoin as an asset in the future.

Mostly unstable governments who fear for their fiat currency.

Banning bitcoin tells the world they're vulnerable and weak. It's one of the worst things you can do to your country's economy and status on the global arena.

I'm not scared of bans because in the EU it's already legalized and many countries are trying to invite crypto businesses by lowering taxes.

Questions remain on the effectiveness of the regulations because taming the decentralized, regulation-free blockchain-based virtual currency market will remain a big challenge for any real-world regulator.

onecall123

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Quote from: Hobo66 on April 07, 2021, 01:06:35 AM

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

The ban things over crypto market won't work any more. Recently the cryptocurrency market cap hits record $2 trillion and Bitcoin holds more than half of the whole market cap. It's simple that investors are firmly believes that BTC is a secure investment despite all the Govt ban drama.

Hobo66

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Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

Sithara007

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Quote from: online73 on April 06, 2021, 10:34:07 PM

I understand why Bitcoin is not banned in the USA, and I understand why it can be banned anywhere, but it is not possible to fully control this process. Until you yourself admit that you have cryptocurrency and don’t hand over your private keys or seed phrases, no one can prove anything. Banning cryptocurrencies is the same as blocking the flow of a stormy river - water will always find its way.

It is impossible to ban cryptocurrency. Because unlike bullion or fiat currency, cryptocurrency is not a physical asset. It is just a bunch of codes that can't be seized by the authorities. As long as you own the private keys, no one else can access your coins. If the government thinks that they can ban cryptocurrency by passing a few laws, then they are mistaken. As a first step, they can get themselves more educated about cryptocurrency.

online73

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I understand why Bitcoin is not banned in the USA, and I understand why it can be banned anywhere, but it is not possible to fully control this process. Until you yourself admit that you have cryptocurrency and don’t hand over your private keys or seed phrases, no one can prove anything. Banning cryptocurrencies is the same as blocking the flow of a stormy river - water will always find its way.

peterpanda

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Quote from: Ludmilla_rose1995 on March 31, 2021, 02:31:46 AM

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

There are alternatives if we face any difficulties. Bitcoin is unbeatable and government can't able to ban it as bitcoin is a decentralized coin. We can't locate the transaction and government can notify us not to use it only.

conected

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Quote from: Ludmilla_rose1995 on March 31, 2021, 02:31:46 AM

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

- The government action and ban is just a blow to the air, investors just need to take a little more time to solve this problem through VPN software, really don't understand what the government's efforts to do or what they want to prove, this stubbornness only makes the generation behind limited exposure in this area. Besides, the governments of these countries are stagnating their own development compared to other countries because so many businesses have entered crypto, their revenue will soon become tax money for the government and taxes are the foundation for a country's government to create more infrastructure and progress.

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Quote from: Wawa2013 on March 30, 2021, 04:46:51 PM

It is not surprising for me to know that there are always countries that want to ban Bitcoin, it's all because Bitcoin cannot be controlled.
The government will then take safe steps by banning Bitcoin normally, moreover the government thinks Bitcoin can threaten the Banks system.
So it's no wonder some countries ban Bitcoin, and if there are countries that legalize Bitcoin, it usually can't be used for payments.
Usually Bitcoin is legalized only as a digital asset.

Exactly. Governments see Bitcoin as a threat to the current monetary system. They might do everything in their power to try to stop it. A full Bitcoin ban might not directly affect the Bitcoin blockchain itself, but it could stifle its growth in the mainstream world. Most people will be scared to join Bitcoin if the government declares it as "illegal". Fortunately, Bitcoin will survive as not every country will ban its use.

Nonetheless, it looks like governments are too late to the game. If they really wanted to "destroy" Bitcoin, they should've done it within the cryptocurrency's early days. Now governments have no choice but to join the Bitcoin/Blockchain bandwagon. Who knows if every country in the world adopts Bitcoin as an alternative to Gold sometime in the future? Just my thoughts Grin

Topic: Government ban on crypto - page 4. (Read 1280 times)