Topic: If governments block Bitcoin, does Bitcoin have no value? (Read 565 times)
Bitcoin is no more safe for illegal dealings, you can ask the FBI the amount of recovery in bitcoin in recent years, You may consider other anonymous coin like Komodo, Monero and Zcach with price tag of hack on the cryptocurrency. Although Bitcoin is used a lot to launder funds and a lot is put to control this in developed nations. World bank just gave access to smaller countries to adopt bitcoin, which indicates how safer bitcoin looks.
Anyway, I don't think this problem will exist, banning the use of BTC is almost impossible, it just reduces the scale of human use.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
It is next to impossible for any government to ban Bitcoin Transactions as it most de-centralized currency and P2P transactions will continue, there is no way to stop it. However, use of Bitcoin for criminal activities is a Major concern which should be addressed by introducing new Anti Money laundering Legislations.
https://www.blockchainconsultus.io/cryptocurrency-crime-uses-ways-stop/
My problem with crypto usage is on the rise
, laugh it off in fact I'm still doing it didn't blame it for this. 
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
So you mean to tell the world will be free of crime if bitcoin is banned. No never . Illegal activities, scam,
hawala etc all were there even before bitcoin . So there is no point in this. Its true that some are using bitcoin
for illegal transactions and dealings but it doesnt mean that all this happen because of bitcoin.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
It may affect on the price of Bitcoin but bitcoin runs it's own way after getting some positive news. As bitcoin is Decentralised crypto, government isn't able to block bitcoin transaction. The value of Bitcoin will remain forever because it's the leading of crypto market.They can block all they want but they cant completely make it stop and let bitcoin die because as long theres a community who had been using or simply on demand then Bitcoin would continue to live.
Demand is the key plus its technical aspects which is totally decentralized or cant simply be altered nor reverse and which do really make it great.
Governments understand the value of bitcoin, and that's why they do it.
Most governments do not and will not ban Bitcoin. Many people see the value and possibilities in Bitcoin like the President of El Salvador or the governor of Texas and other politicians who support Bitcoin.
China was always one of the most authoritarian countries in the world. Do you remember what they were doing in Tibet? How they're threatening Taiwan and Australia and how they were developing new viruses in Wuhan? It's a country that still executes prisoners in public. It's really nothing new that they're opposing every bit of freedom in this world.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
It has been proven that the biggest crimes and money laundering have been done with FIAT money, any financial tool can be used for good or bad, although that 46% percentage is very little credible, it would have to be done with an agency recognized based on a sample of a population that is representative.
The crimes that have occurred the most based on Crypto have been by Ransomware, and the truth is produced by hackers, is what can be highlighted the most, but most cases do not use crypto, in fact the casinos have mostly been protected With the licenses for the proportion of KYC to avoid such problems as money laundering , the statistic of 46% is quite debatable depending on the source. The countries that prohibit BTC instead of doing damage to BTC what they do is increase its demand, the human being always likes to be more irreverent, the things that they prohibit the most are the ones they want to do the most, and when it comes to Money can pass over any government or banking entity, tools are developed to be able to operate, if it is the case of BTC or any Cryptocurrency. In addition, it would be a very unusual decision, because the trend will always be in favor of the alternative deflationary economy, since for many the biggest bubble is the dollar.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
The way falsehood is evaporating from you with so much alacrity, actually I didn't expect such Bitcoin savaging post, after reading the title and then reading the post itself.Since I don't believe your statistics and I don't have any true source to get those informations I don't even think it's something that can have a true fact.
I would be okay with a discussion on the topic, bitcoin value can be affected my some government, and some aspects of bitcoin that was ban. For instance, Nigeria banned the withdrawal of crypto-currency to local Banks but this didn't affect bitcoin, fast forward, China had a ban on a particular aspect of bitcoin I think mining and this affect Bitcoin value.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
only bitcoins? but before bitcoins there are paypal and others and they are also invovled in massive frauds but did the governments block them , no but all of them still exist until now .sadly many governments in many countries still blocked btc and it does have a negative effect to the btc price , price fell down .
btc will only have no value when all country or government do the same
Paypal is a whole different story. Look at Jack Ma, if you can pin down a person that controls the entity, let's say the PayPal owner or CEO, you just find reasons and send him to jail, afterwards shut the business down or assign a penalty that literally destroys the company. All these actions you can't take against Bitcoin. In the case of China, interestingly, maybe they could force the mining pools to commit a 51% attack and destroy trust in the network. I don't know in how far China could pin down the majority of the hash power providers. Otherwise governments won't block Bitcoin because they can't really. They can try, but that's it.
Bitcoin price will never go down to zero just because governments ban it. There is not a system which is working like that for cryptocurrencies. Governments can hope to end this market but the effort will be in vain.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
only bitcoins? but before bitcoins there are paypal and others and they are also invovled in massive frauds but did the governments block them , no but all of them still exist until now .sadly many governments in many countries still blocked btc and it does have a negative effect to the btc price , price fell down .
btc will only have no value when all country or government do the same
if the government is not too strict, I don't think it will affect. but if the government is really serious about being very strict on it.. it might affect but still bitcoin will not die.
Anyway, I don't think this problem will exist, banning the use of BTC is almost impossible, it just reduces the scale of human use.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
It is next to impossible for any government to ban Bitcoin Transactions as it most de-centralized currency and P2P transactions will continue, there is no way to stop it. However, use of Bitcoin for criminal activities is a Major concern which should be addressed by introducing new Anti Money laundering Legislations.
https://www.blockchainconsultus.io/cryptocurrency-crime-uses-ways-stop/
Don't know why government always have the lame excuse that bitcoin is the reason of money laundering. If somehow, bitcoin and crypro is vanished from the planet, will there be no money laundering using fiat
Anyway, I don't think this problem will exist, banning the use of BTC is almost impossible, it just reduces the scale of human use.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
It is next to impossible for any government to ban Bitcoin Transactions as it most de-centralized currency and P2P transactions will continue, there is no way to stop it. However, use of Bitcoin for criminal activities is a Major concern which should be addressed by introducing new Anti Money laundering Legislations.
https://www.blockchainconsultus.io/cryptocurrency-crime-uses-ways-stop/
Anyway, I don't think this problem will exist, banning the use of BTC is almost impossible, it just reduces the scale of human use.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
However, the current situation seems to be going very well as there are already countries accepting and using BTC.
It is impossible for all governments to block Bitcoin. Bitcoin can be consumed and exchanged for other currencies, so it becomes valuable. As long as it continues to be useful, unique and safe, it will remain valuable.
What government do you mean? I am sure that not all governments will block Bitcoin moreover Bitcoin is legal in many countries.SO, why should worry about this? Bitcoin is not centralized. No one can block Bitcoin. Probably, it only can make the market price of Bitcoin influenced by the FUD. We know that many people around worldwide are involved in Bitcoin and it doesn't only focus limit on one country.
It will have an opposite effect actually, look at illegal substances and drugs, they are prohibited that's why they have a really high street value and that will be the same for bitcoin, the more that it is prohibited by the government, the more the people want it.
Very good example here. It is actually a very very good example. The drug industry is a decentralized farming scheme that you can never shut down. If you shut down one farm, there is another somewhere else because there is incentive for it You would have to fully eliminate the incentive in order for anyone to still see an opportunity to farm drugs.
That is impossible because government will never want full privacy for their civilian population. They also will never want full financial free and capital mobility for their population. For as long as government is not going to credibly provide that (which is almost a contradiction in and of itself), Bitcoin and other cryptocurrencies with a purpose serving civilian society beyond what government is willing to do, will keep thriving.
if government prohibits alcohol will there be no moonshine?..... no.. moonshine sales increase
if the government starts a war on drugs will there be no drugs?.. no.. theres more street dealers than ever
if the government stats making prostitution illegal will there be no whores? .. no.. theres more prostitutes than ever
if the government starts a war on drugs will there be no drugs?.. no.. theres more street dealers than ever
if the government stats making prostitution illegal will there be no whores? .. no.. theres more prostitutes than ever
We have seen it all happen before exactly like this and we see it happening in present situation. Gambling is mostly illegal where I live, so people find underground places to gamble. The result? They lose out on tax revenue and they can't keep an eye on the gambling, it's always a lose lose situation with these bannings.
In Bitcoin-based transactions, about 76 billion US dollars of transactions are involved in illegal activities each year, accounting for about 46% of the total Bitcoin transactions. Almost a quarter of bitcoin users, and nearly half of bitcoin transactions, are illegal. Therefore, from a quantitative point of view, the use of Bitcoin is enough to become the target of attention of governments and international criminal police. If governments block Bitcoin, does Bitcoin have no value?
Uuhm… I don’t think your stats there are accurate. Where did you get those stats that up to 46% of Bitcoin transactions are illegal? I think that is wrong. You should have left a link to the source so that we as well can check it. From what I know, which I am very sure, and it was according to CNBC.com, only 0.34% of cryptocurrency transactions were illicit transactions. Before now it has been around 2%, so that means there has even been a decrease.So, how did you come up with the 46% you have here? And in case you don’t know, fiat is more often being used for illicit activities more than Bitcoin. Bitcoin doesn’t even come close to the rate at which fiat is being used for that.
It will have an opposite effect actually, look at illegal substances and drugs, they are prohibited that's why they have a really high street value and that will be the same for bitcoin, the more that it is prohibited by the government, the more the people want it.
Quite an interesting example and I also agree, sometimes the bans from the government make us more curious and pay more attention, when we know what the product has and what benefits it brings, due to the difficulty of spreading, the value will become very expensive. I don't have such interestingly linked thoughts and fantasies, Bitcoin can be said to be a natural product in the online market, it belongs to the production of individuals and people have organized together to create the underground market as it is now, bitcoin will have value as long as the underground market exists and is not related to the government Jump to: