High possibility major governments will BAN Bitcoin in the near future - page 3.

Ryker1

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Quote from: Ridwan Fauzi on January 30, 2021, 05:31:03 PM

^[snip]
Indeed, they have a right to make regulation but they have no right to manage the utilization. You can imagine how difficult they are if they ban crypto currency because in the internet field we have many ways to passed the ban. We still can use VPN and another way to access an exchange as an example. So as, the government decide to make regulation will ban crypto currency is a useless way.

Well, you have a point about this.
How they can regulate bitcoin that the fact that this has a decentralized nature and no one under control of this currency. Technically, they won't able to ban or just wasting their time because people still can use bitcoin in different tools use without even knowing if that is prohibited in your place. There are too many countries that had attempt to ban bitcoin, China and Indonesia as far as I remember but until now people keep accumulating bitcoin hoping to have again profit if they will invest in it. If banning is the purpose, I don't know how it will work but even shutdowns power source electricity bitcoin can still run without power.

Ridwan Fauzi

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This issue has been discussed many times, but there is no one especially who has been known how crypto currency work they didn't afraid of that. The regulation made by government only applies physically, we do have many way to still use crypto currency in any form.

Indeed, they have a right to make regulation but they have no right to manage the utilization. You can imagine how difficult they are if they ban crypto currency because in the internet field we have many ways to passed the ban. We still can use VPN and another way to access an exchange as an example. So as, the government decide to make regulation will ban crypto currency is a useless way.

verita1

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A scenario as dramatic as OP paints it I don't think it's possible. The crypto community, social groups, and people in general are armed with knowledge, ideals, and truth. It is what we have noticed in recent days. GameStop was the great trigger that centralism demonstrated by trying to squeeze its tentacles and oppress the minority. But there is freedom and free thoughts that quickly reacted.

A brief description of the ideals that we defend by the most recent facts. Take a look at this tweet.

https://twitter.com/Dooowta/status/1355518304446627853?s=19

Twentyonepaylots

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If they can't regulate it or profit from it, the government will surely ban it. That's just the case for most of the things they have tried to control in the past but were unable to make use of, bitcoin might fall to the same fate but the good thing about is that banning bitcoin might cause more people to leave the country which is not good for economy. So they might as well just let it be.

Quote from: FlightyPouch on January 30, 2021, 05:13:20 PM

Since they can't stop bitcoin, I don't think they will be banning it in the future. To be able to gain something from it, obviously, they will be making a law to tax it in the future. From the exchange or maybe in any form of way but I hope it still continue what it is right now. I don't see any taxation to crypto currencies to be effective as people can just evade it as long as they wanted it.

Exactly, taxation looks like a good plan for them, but we can't be too sure people will just let this slide especially when other countries are able to invest in crypto scot-free, plus the huge transaction fees they will still have to pay.

FlightyPouch

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Since they can't stop bitcoin, I don't think they will be banning it in the future. To be able to gain something from it, obviously, they will be making a law to tax it in the future. From the exchange or maybe in any form of way but I hope it still continue what it is right now. I don't see any taxation to crypto currencies to be effective as people can just evade it as long as they wanted it.

CryptopreneurBrainboss

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Quote from: A62662 on January 26, 2021, 09:11:28 AM

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.

Ok I think we have debated on this issue severally and have come to a conclusion that it doesn't really matter what they (the government) come up with because they'll fail woefully. They tried previously to create fud and cause panic among the investors and discouraged them form investing in the technology therefore bringing the coin down to it doom but all their attempts were in vain since it only had a short term effects on the may.

The government are secretly buying bitcoin just as the institutional investors were hiding before they made their holding public. The government know the technology is above their reach for all their selfish tricks. Don't be surprised if to know they must have go through all their books just to find something worthy of discredting the currency but all they can come up with is, 'it encourage criminal activities' meanwhile their fiats scams has been doing that for years now

There's a high possibility of the government finally joining the party instead of fighting it, knowing they are on the losing side already. Just my thoughts though.

SirLancelot

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Quote from: A62662 on January 26, 2021, 09:11:28 AM

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.

Yes, they will be seeing bitcoin as a competitor. Most of them have already created their own cryptocurrencies or tried creating it but it never worked. Chinese digital Yuan was being hyped for a long time and now nobody talks about it, we can’t even remember whether that exists or not. That’s because nobody is ready to make use of any of these, people just prefer the normal decentralized cryptocurrencies that we are using like bitcoin, and ETH, they are not interested the digital coins that these governments wants to offer. They should rest please.

bitterguy28

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They may Banned Bitcoin but they will never stop this from spreading so I think it's equal . there are many government also that will consider the use of this coin and technology so i am not that worried at all.

and besides with the market movement now ? maybe considering this in the next time and not now.

Quote from: Dabs on January 28, 2021, 08:19:15 AM

No bets so far. Enough said.

AGD

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OP, I'm waiting for an answer ... I say 'no major government will BAN Bitcoin in the near future.' Any amount. Escrow somebody?

In the silence

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Quote from: A62662 on January 26, 2021, 09:46:48 AM

Let me ask you this; have the major governments been in the endphase of having their own cryptocurrencies during the last 10 years. Well, no. But they might soon. That's what's make all the difference and why the BTC ban is probably imminent.

Major governments can compete with bitcoin by creating their own cryptocurrency since banning bitcoin would be a waste of time unlike if they can create their own cryptocurrency, oppose bitcoin and use their own cryptocurrency for to compete with other major governments who made also their own cryptocurrency.

uneng

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Quote from: mezzaluna on January 28, 2021, 11:46:10 AM

China is the only major government that banned Bitcoin because it is both a Communist and Capitalist country. The government cannot control Bitcoin which resulted into banning them so I guess not every country would follow China because other countries are not that scared since most users are just using it as another income generator.

However, this possibility can always happen because of the wrongdoings that can happen within this industry and once it caters enough bad reputation.

As far as I know this ban in China means nothing because there are people there dealing with crypto currency daily and even though we hear about it since a long time ago there are also theories China is playing with bitcoin's price, what is contraditory with the baniment information.
I think there isn't any positive impact for governments in banning bitcoin. Why would they refuse income from crypto investors, consequently sending these people and their respective incomes to another countries which are friendly to bitcoin?

mezzaluna

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China is the only major government that banned Bitcoin because it is both a Communist and Capitalist country. The government cannot control Bitcoin which resulted into banning them so I guess not every country would follow China because other countries are not that scared since most users are just using it as another income generator.

However, this possibility can always happen because of the wrongdoings that can happen within this industry and once it caters enough bad reputation.

Dabs

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No bets so far. Enough said.

Kittygalore

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Quote from: A62662 on January 27, 2021, 07:47:21 AM

Quote from: Kittygalore on January 27, 2021, 07:37:06 AM

~

No, Bitcoin isn't like heroin, cocaine or speed. If banned price would go down to almost nothing, probably in the hundreds of dollars, not in the thousand's like today. People would not flock to it, they would in fact avoid it.

What I mean by that is, the prices will go up because even if it is illegal, the people will want to get a piece of bitcoin and the people that are going to sell it will definitely be marking up the prices which will in turn artificially pumping up the prices., if the demand increases then the prices will go up, even if there is a lot of bitcoin in supply. Banning bitcoin would not mean that the prices will go down, its not like everyone will suddenly sell their coins because it is prohibited to even own one. You should learn the economics of illegal drugs as to why they have high(no pun intended) prices because that is what is going to happen when they ban altogether bitcoin. The best solution is to take care of the demand first, don't fight the wave instead go with the wave, apply regulations that are quid pro quo for both parties.

adzino

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Quote from: A62662 on January 26, 2021, 09:11:28 AM

-snip-
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.
-snip

So you believe that the US government is the government of the world? It was the US government that did that. Not the world. And I guess you are talking about the executive order signed by Roosevelt, right? Yeah that was shit. Citizens were forced to give up their golds. The order was active for like maybe 40 years.
But I doubt that is going to be a case with bitcoin. Crypto currencies are decentralized. Hence they have no central authority to ban. I mean, no one can stop something that is P2P and decentralized. Look at torrents. Were they able to stop those? Nope.

In the silence

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Just like gold, governments make it illegal then confiscated it. This is not new almost from the beginning the federal reserve is eyeing bitcoin and the governments seeks regulation and laws to dump it while injecting their paper money to bitcoin. What a tricksters.

bryant.coleman

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The governments would like to ban cryptocurrency, but it is not possible in a practical way. It is just not possible to ban an asset that is decentralized. At the most, they can go after centralized businesses (such as exchanges, gambling sites, P2P platforms) that are linked to cryptocurrency. Users may be able to transact BTC with each other, but they may face issues in converting their coins to fiat currency (or vice versa).

so98nn

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Quote from: A62662 on January 26, 2021, 09:11:28 AM

[..]
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.

Oh come on dude. Japan was the first country to legalise the crypto curreny use in their country and also world's leading OTC provider of the crypto's.

I dont think if they saw a future in it then they would go rogue against it anytime soon.
More than 1000 bitcoin ATM's around the USA and Europe present just because it's free to trade, I mean without any restrictions.
Worlds largest Mining farm is in China, Japan and USA so bite me on that if they will close down suddenly. (Billion dollars!)

Quote from: A62662 on January 26, 2021, 09:11:28 AM

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.

This is definitely not happening anytime soon. The prices won't fall because look at the market cap dude. It's huge and took almost decades of time to build it up. It can't go down in blink of an eye.

Moreover it will keep building more and more and soon hitting trillion dollar industry. You killing of the price? Not happening!!

takngantuk

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Quote from: A62662 on January 26, 2021, 09:11:28 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.

very low. the crypto community is not criminals, and they are not doing anything illegal. maybe there will be a ban, but to impose the punishment only for the holder, that is a mistake. there will be many who protest about this issue. after all, crypto provides benefits for all, and if you look at it, isn't it more profitable for the government, if crypto / bitcoin is legalized but on the condition that they are taxed. there will be a lot of income they will get considering the marketcap for crypto is huge.

WillieTruman

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Governments of all countries will have their own encrypted digital currency, Bitcoin will become their competitor, or some governments will rely on Bitcoin, of course, it will be some small countries

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