Do you guys think Bitcoin has any chance of being banned by the government? I keep hearing people say that Bitcoin has a chance of being banned, yet I don’t think so because very powerful people like Elon Musk along with other companies are large investors. Is their any weight to that statement?
I am not afraid of any major developed country planning to ban the cryptocurrency market, we might expect a regulation to monitor the market and billions of dollars are invested by investors and companies alike and the government will not act against them, but they might find a way to benefit in the form of taxation. You might see a ban by the third world governments as you cannot predict what they do with it as we see topics regarding that all the time. 
Topic: Government ban on crypto - page 8. (Read 1280 times)
I believe BTC will get more adoption and regulation by governments since it's marketcap is in the trillions dollars. It is not a bad thing. Just the opposite. As we consider option of banning (just hypothetically) which have some small odds of happening anytime soon then I think crypto will become useless contrary to what many people here stated or at least be limited to very low level of usage since it is illegal. eventhough you exchange for cash you will not be able to use your money above some amount.
I think a chance of Bitcoin being banned by the government largely depends on the following factors: how democratic the country is, how widespread the usage of cryptos is and how many influential politicians and entrepreneurs use cryptos. The US is a strong democracy, crypto business is blooming, and crypto usage there is high, so there's a very small chance of cryptos getting banned there. But less democratic countries, such as China, can bad cryptos even if there's high interest to them among the population. So it depends on the country and the circumstances.
I don't get the information that OP is trying to convey. I've understood it as, USA on the urge of banning bitcoin. This might happen with different countries, but not with USA. Yesterday I had small conversation with a friend of mine working in usa, and he said about bitcoin, different gateways are available. USA has given access for bitcoin usage, only thing each and every transaction gets added to the taxation account with which taxation can be easily calculated.
We kept on hearing news about how USA wanted to banned bitcoin and yes, banning can be totally done by any government but it won't stop citizens from accessing it continuously. This is the reason i think that USA chose not to banned bitcoin but instead, it's even become more popular because of big institutional investors that has made a significant pump in the price of bitcoin. 
Well legally bitcoin can be definitely banned by any government. They can enforce punitive actions against any bitcoin holders by law as well. So yes a government can definitely ban bitcoin if they wish to.
Now the question is that how they would enforce the law. That's extremely difficult! It's like finding a needle in the haystack if they want to go behind the crypto holders. So enforcing such law will not be easy at all.
Also people will quickly find an underground market if the government bans it in any way. So just a law can't really stop users from using it. So I don't see a great success if a government bans it.
Now the question is that how they would enforce the law. That's extremely difficult! It's like finding a needle in the haystack if they want to go behind the crypto holders. So enforcing such law will not be easy at all.
Also people will quickly find an underground market if the government bans it in any way. So just a law can't really stop users from using it. So I don't see a great success if a government bans it.
Such as topics that have been discussed many times, you might participate there instead of creating a new topic and you will find it by using the search button. Anyway, technically there is no way to ban Bitcoin. Since it's a decentralized cryptocurrency, no one can prevent you from using Bitcoin. Yes, the government would declare as an illegal currency, but they aren't the one who can ban it from their country. Currently, most developed countries allow their citizens to use Bitcoin. Those aren't allowing I think they aren't well familiar with it or they are just stupid. Because there is the possibility that Bitcoin could keep a role in the country's development. A few countries didn't miss it.
If they are about to ban it, they should've done it before long time ago. IMHO, it's too late for them to ban it if they really want to get rid of it and avoid their citizen's attention being into it.
Too late in a sense that they see the importance of bitcoin because of its price and value. A country that's try to recover because of the pandemic will have its time to consider and avoid banning it as much as they can.
Over time, it is impossible to completely exclude the possibility of a ban on cryptocurrency by states. The current position of the G20 countries was that cryptocurrency does not pose a threat to global financial stability. However, they can reconsider this position, and there are already calls from some high officials to do this. Until now, many states are looking at cryptocurrency.Too late in a sense that they see the importance of bitcoin because of its price and value. A country that's try to recover because of the pandemic will have its time to consider and avoid banning it as much as they can.
Of course, the fact that large business structures invest large sums in bitcoin is a big plus for cryptocurrency. However, not one hundred percent guarantee.
I don't get the information that OP is trying to convey. I've understood it as, USA on the urge of banning bitcoin. This might happen with different countries, but not with USA. Yesterday I had small conversation with a friend of mine working in usa, and he said about bitcoin, different gateways are available. USA has given access for bitcoin usage, only thing each and every transaction gets added to the taxation account with which taxation can be easily calculated.
Since Bitcoin was launched in 2009 and released on the global crypto market, pros and cons have emerged, various accusations and speculations that have been raised, no half-hearted, including the creators of Bitcoin themselves want to be caught, The proof is now, Bitcoin has entered the era of 13 years of travel, nothing has happened, Bitcoin continues to grow all over the world and to remote areas.
What I want to say is: the world has entered the era of globalization with super sophisticated technology, Crypto / Bitcoin is a super great alternative currently used by the general public, In doing transactions with money in digital.
Let state authorities talk about banning Bitcoin, the more he talks, the harder it is to ban Bitcoin.
Yes, I will ignore anyone who is against bitcoin because it won't be easy to get rid of bitcoin.What I want to say is: the world has entered the era of globalization with super sophisticated technology, Crypto / Bitcoin is a super great alternative currently used by the general public, In doing transactions with money in digital.
Let state authorities talk about banning Bitcoin, the more he talks, the harder it is to ban Bitcoin.
whatever the reason, until now bitcoin is still around and even continues to spread to everyone and circles wherever they are.
and in the country where I live bitcoin continues to grow and is increasingly popular, especially during this pandemic and in the country where I live bitcoin is not prohibited and only allowed as an investment and not to be used as a buying and selling transaction using bitcoin and must convert it into fiat.
I agree with your points, but you can never be 100% sure with governments. Gold was a widely adopted form of money, and then it got seized because of the Great Depression. Now, you can't seize Bitcoin as easily, but you can ban trading it if government will decide that it hurts them.
Democracy can turn into tyranny in just a couple of years, so nothing is really set in stone in society.
Democracy can turn into tyranny in just a couple of years, so nothing is really set in stone in society.
If they are about to ban it, they should've done it before long time ago. IMHO, it's too late for them to ban it if they really want to get rid of it and avoid their citizen's attention being into it.
Too late in a sense that they see the importance of bitcoin because of its price and value. A country that's try to recover because of the pandemic will have its time to consider and avoid banning it as much as they can.
Too late in a sense that they see the importance of bitcoin because of its price and value. A country that's try to recover because of the pandemic will have its time to consider and avoid banning it as much as they can.
Question
Very highly unlikely for that to happen, specially now. In fact the opposite is going to happen. More and more government are starting to understand how bitcoin and other crypto currencies work and is trying to incorporate with the current existing system. They know that banning will just negatively affect the system. Again, they also realize that banning won't stop people from using it since it is decentralize. They are well aware banning will just cause rise in more illegal transactions. Hence, they are trying to legalize it through various policies and regulations. Only few countries out there that are totally against crypto currencies. Quote
Do you guys think Bitcoin has any chance of being banned by the government? I keep hearing people say that Bitcoin has a chance of being banned, yet I don’t think so because very powerful people like Elon Musk along with other companies are large investors. Is their any weight to that statement?
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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.
Don't see any news something like this at this moment since government are now looking on the crypto venture since it offers good opportunities between the user and institution. And banning is not be seen right now since government regulate it thats why we see some local bitcoin exchange platform,Atm's and other entities who's business is related with crypto is now popping up doing a good business so far.
Those people who are constantly talking about Bitcoin getting banned do not yet know Bitcoin. You have 2 options when faced with such people. Either you tell them that it is next to impossible to actually ban Bitcoin and perhaps argue a little since they will probably respond to it, or you just ignore them altogether and avoid wasting time with them.
If the US would have wanted to ban Bitcoin, it should have done it a long time ago. But I think they have already made attempts. All failed, though. Because how can you even ban Bitcoin? To the question of is there any chance of Bitcoin getting banned, there is none. Not because of external factors such as Elon has already accepted it but because by design it is impossible to ban Bitcoin.
If the US would have wanted to ban Bitcoin, it should have done it a long time ago. But I think they have already made attempts. All failed, though. Because how can you even ban Bitcoin? To the question of is there any chance of Bitcoin getting banned, there is none. Not because of external factors such as Elon has already accepted it but because by design it is impossible to ban Bitcoin.
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.
Many governments want to do this, but not many are able to do it. I still don't understand what is really happening in India.
Many governments want to do this, but not many are able to do it. I still don't understand what is really happening in India.
What happens to India is just similar to what happens to China and some other countries that opposed crypto.It gonna be a control issue. Their leaders (and even the others) wanted to keep Bitcoin on their hands which is very unlikely to happen no matter how powerful they are.
I don't know if they are totally thinking it right and they had tried to listen to the public coz probably it is not the wants of the people.
Since Bitcoin was launched in 2009 and released on the global crypto market, pros and cons have emerged, various accusations and speculations that have been raised, no half-hearted, including the creators of Bitcoin themselves want to be caught, The proof is now, Bitcoin has entered the era of 13 years of travel, nothing has happened, Bitcoin continues to grow all over the world and to remote areas.
What I want to say is: the world has entered the era of globalization with super sophisticated technology, Crypto / Bitcoin is a super great alternative currently used by the general public, In doing transactions with money in digital.
Let state authorities talk about banning Bitcoin, the more he talks, the harder it is to ban Bitcoin.
What I want to say is: the world has entered the era of globalization with super sophisticated technology, Crypto / Bitcoin is a super great alternative currently used by the general public, In doing transactions with money in digital.
Let state authorities talk about banning Bitcoin, the more he talks, the harder it is to ban Bitcoin.
The only way to stop bitcoin access is to cut electricity power supply. Essentially that would stop the internet from being accessed. But that is a too drastic step to be taken by anyone.
So you can be assured that such incidents will not happen and always hope for the best and betterment of the crypto space. Regulation may happen but remember that if you are a part of the law abiding citizen who does not take part in money laundering, you have nothing to worry about.
Or it could be the other way around too, shutting off Internet can also be a possibility or a apocalypse scale war like a full-on nuclear war. It is a pretty scary mindset that you have to not worry about regulations that they are going to put on bitcoin if you are a law abiding citizen because there will always be a possibility that you can be implicated or blamed for something that you didn't do, have you heard of frame up? So you can be assured that such incidents will not happen and always hope for the best and betterment of the crypto space. Regulation may happen but remember that if you are a part of the law abiding citizen who does not take part in money laundering, you have nothing to worry about.
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