What will the impact be of this "revolution" for these governments? Answer : All those transactions will not be taxed and a whole new secondary economy will be created that are free from government control and manipulation.
Topic: High possibility major governments will BAN Bitcoin in the near future - page 2. (Read 1040 times)
February 03, 2021, 12:56:48 AM
The governments must just accept the natural evolution of Crypto currencies, if they start "banning" Crypto currencies. The first thing that will happen after a ban, would be the "new" revolution of Crypto currencies. The developers will be motivated to create more decentralized market places and exchanges and this whole experiment will go underground.
What will the impact be of this "revolution" for these governments? Answer : All those transactions will not be taxed and a whole new secondary economy will be created that are free from government control and manipulation.
What will the impact be of this "revolution" for these governments? Answer : All those transactions will not be taxed and a whole new secondary economy will be created that are free from government control and manipulation.
February 02, 2021, 01:51:08 PM
Most governments want to control financial situations of its people. They are putting taxes on everything, so there is no financial freedom. With bitcoin they can't do it, so they are against it. As bitcoin is anonymous, they can't properly put taxes and there are other difficulties. Many banks and other financial institutions have been putting pressure on governments to ban bitcoin. In such situations, there is high possibility that they would put ban on bitcoin. But, a lot of people don't want their governments to control their financial situations, so they fully support bitcoin and their number is growing day by day. The way bitcoin has become so much popular in recent times that some governments have been contemplating of introducing their own cryptocurrency. So, the day is not far away, when we can see government issued crypto.
January 31, 2021, 06:42:12 PM
Even at the present time, government can already to restrict usage of not just Bitcoin but also other cryptocurrencies within their country if they would like too as long as they will have the reason to do such thing. There is really no need for their own digital or crypto currency to be created before they make such higher restriction or banning because they could possibly do such in any time they would want to make it up such decision. The point is that it is impossible for Bitcoin to loss value in that instant and for the totality of the majority of the governments existing in the world to restrict or ban Bitcoin usage for many have already been engaging into it. But we are not eliminating the possibility that it might happen, still we do not know what could happen so better just focus on the present rather than thinking of such thing that seems to be far to happen yet.
January 31, 2021, 03:55:14 PM
I know governments have been planning to have their own crypto currency but I don't think they can ban bitcoin as they don't have control over it and the maximum they can threaten the traders to instill fear which will surely send the Bitcoin market crashing but that would not be the end as user will find an alternative to bypass the government ban and bitcoin will be back to normal. We cannot blame bitcoin for the crimes you have mentioned because those crimes used to take place before the emergence of Bitcoin.
They can only limit the use in terms of not allowing physical stores or establishment to use or accept it but they cannot monitor it that can still lead to be use it often, there are also too many ways now to use it online even they will limit many will find ways. They might create their own cryptocurrency but the sense of being decentralized will not be applied in it which their people might not be interested to use with. 
January 31, 2021, 03:50:26 PM
Indeed the government will oppose with the use of bitcoin or other cryptocurrency considering the fact that it is all decentralized meaning they have no control over it. ~~~
However, on the other hand, the government also realizes that bitcoin has great potential to overcome many problems in the conventional financial system. with cryptocurrency, transactions become faster, not limited by space and time, but the government cannot fully control and supervise it, which is why in some countries the use of crypto is only legal for investment and trading commodities. 
January 31, 2021, 03:35:12 PM
I know governments have been planning to have their own crypto currency but I don't think they can ban bitcoin as they don't have control over it and the maximum they can threaten the traders to instill fear which will surely send the Bitcoin market crashing but that would not be the end as user will find an alternative to bypass the government ban and bitcoin will be back to normal. We cannot blame bitcoin for the crimes you have mentioned because those crimes used to take place before the emergence of Bitcoin.
January 31, 2021, 03:08:39 PM
It has started. Indian Government already presenting bill to ban crypto in upcoming session of parliament due in February. This will be a big set back for global and Indian crypto community.
January 31, 2021, 12:59:42 PM
The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.
Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.
There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.
The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.
How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
If you don't see a clear difference between 1930 and 2021, then I don't know what to say. They banned not only gold but Alcohol distillation, steroids, 90ths drugs, etc. But what? Gold is legal again, alcohol is legal again and just visit the Campus of any University, you'll be amazed when you see what happens there. Also, every bodybuilder and fitness influencers (some exceptions ofc) use steroids (while it's illegal).Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.
There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.
The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.
How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
Nevermind, Bitcoin isn't their competitor and there is no need to ban it. Plus, consider that there are a lot of businesses built around Bitcoin and cryptocurrencies, you can't just abandon them when you wish.
January 31, 2021, 12:33:18 PM
Indeed the government will oppose with the use of bitcoin or other cryptocurrency considering the fact that it is all decentralized meaning they have no control over it. Taxes are also not included when you are transacting with crypto, only fees are there which shows that it is not beneficial for the government too. I think they are trying to restrict or lessen the use of it through making their own digital currency wherein at the end of the day, they will still have control over it. We still can't predict the future, anything can still happen actually but let us not waste opportunity while we are still allowed to invest in crypto.
January 31, 2021, 12:21:51 PM
Bitcoin and other crypto might be affected with any single fud or any single news from the government if they want to banned it in their country but as we all know crypto runs thru online I think it will take so many months or years before they can fully implement it,
The price of bitcoin used to move according to the news and FUD in the past but in the past several months or over a year it is not responding to these manipulation, yes the tweet from Elon Musk made a huge difference as the price pumped for a while but that did not last long. The way a government will influence the market is by banning the exchanges running in their country even if they want to restrict it. January 31, 2021, 12:13:52 PM
There will be a very noticeable impact on the market, if the governments try to ban Bitcoin. Don't forget the fact that the recent bull run was triggered by institutional adoption of Bitcoin, especially from PayPal. If the government imposes any sort of restriction, then these institutions are going to pull out immediately, resulting in a bloodbath at the market. Bitcoin will exist, but the global adoption will be severely affected.
Bitcoin and other crypto might be affected with any single fud or any single news from the government if they want to banned it in their country but as we all know crypto runs thru online I think it will take so many months or years before they can fully implement it, I don't know how do they stop people from using it, especially now many companies and even well known personalities are into bitcoin now such as Elon, so I don't think they will ban it, possibility is low. January 31, 2021, 12:06:31 PM
Even though every country eventually has their own national cryptocurrency, it will not be able to compete with Bitcoin. Especially to kill Bitcoin,
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.
There will be a very noticeable impact on the market, if the governments try to ban Bitcoin. Don't forget the fact that the recent bull run was triggered by institutional adoption of Bitcoin, especially from PayPal. If the government imposes any sort of restriction, then these institutions are going to pull out immediately, resulting in a bloodbath at the market. Bitcoin will exist, but the global adoption will be severely affected.
January 31, 2021, 08:51:30 AM
Even though every country eventually has their own national cryptocurrency, it will not be able to compete with Bitcoin. Especially to kill Bitcoin,
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.
January 31, 2021, 08:37:50 AM
The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.
Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.
There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.
The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.
How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
Bitcoin has an high value than other currency and it can use by all people because of the lacking of authority. Government would ban bitcoin if the criminals using it on terrorising or it will be a threat to the current economy of their country. It all depends o how it will use either bad or good it is on hand of the person Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.
There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.
The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.
How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
January 31, 2021, 02:47:14 AM
BTC is an asset which will always dominate in Crypto market the reason behind this is people are crazy on this coin because of popularity and demand.
I agree government has the rights to ban the coin but that could be a wrong decision in my opinion the only thing we need to look is how convenient and secure is to the public and if they are ready to take their own risk then why need to ban a popular coin?
I agree government has the rights to ban the coin but that could be a wrong decision in my opinion the only thing we need to look is how convenient and secure is to the public and if they are ready to take their own risk then why need to ban a popular coin?
January 31, 2021, 02:44:05 AM
Im sure that after mass cbdc adoption gov will start to ban crypto. And i really hope that this will not kill the whole market. Overwise, my live savings in ownr wallet will become totally useless
January 31, 2021, 02:00:26 AM
Since they can't stop bitcoin, I don't figure they will boycott it later on. To have the option to acquire something from it, clearly, they will make a law to burden it later on. From the trade or perhaps in any type of the way, however, I trust it actually proceeds with what it is at this moment. I don't perceive any tax collection on cryptocurrencies to be successful as individuals can simply avoid it as long as they needed it.
January 31, 2021, 01:10:24 AM
There's is no doubt that the governments are looking for ways to reduce the use of cryptocurrencies as it deters their control of financial system relating to individuals in their countries as most people and new entrepreneurs keep their excess funds in digital assets. This reduces the money in bank that can be given out in loans to new investors in physical goods or services provision.
Another thing is that cryptocurrency ensures funding are sent without being traced to a known individual.
Tracing blockchain transactions is possible and even very easy but you can't trace it to a known individual. Funds move across borders without government knowing what they're meant for. These are things governments don't want as the funds might be moving around for criminal activities.
And on criminalising the usage of crypto might not be possible considering the fact that majority of world powerful are now cryptocurrency holders or users plus this is 2021, technology which improves world activities might not be at all easy to clamp down.
Another thing is that cryptocurrency ensures funding are sent without being traced to a known individual.
Tracing blockchain transactions is possible and even very easy but you can't trace it to a known individual. Funds move across borders without government knowing what they're meant for. These are things governments don't want as the funds might be moving around for criminal activities.
And on criminalising the usage of crypto might not be possible considering the fact that majority of world powerful are now cryptocurrency holders or users plus this is 2021, technology which improves world activities might not be at all easy to clamp down.
January 30, 2021, 11:10:29 PM
I believe several countries are now in the process of creating their own cryptocurrency, but competing with Bitcoin is likely to fail. Moreover,
killing Bitcoin will never happen, because many parties are trying to kill Bitcoin in various ways. But it all ended in failure, and I am also optimistic
that Bitcoin will not drop to below $ 1000 again.
killing Bitcoin will never happen, because many parties are trying to kill Bitcoin in various ways. But it all ended in failure, and I am also optimistic
that Bitcoin will not drop to below $ 1000 again.
January 30, 2021, 10:41:06 PM
India may be the first nation to ban "holding" of cryptocurrency (China only has a banking ban). A bill, which makes holding, trading or transaction of cryptocurrency a criminal offense (punishable by up to 10 years in jail) will be introduced next month (as per the parliamentary notes). Don't ask me how they are going to implement this stupid ban, but for the 5 million plus cryptocurrency users in India, things just got a lot more difficult.
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