Pages:
Author

Topic: Is it possible for a country to block bitcoins (or even the whole cryptos) - page 2. (Read 2761 times)

sr. member
Activity: 728
Merit: 250
It's possible. For example, if there are no exchanges that would accept your btc and convert it to cash then it's useless having bitcoins in that country. All of the sites that are connected to btc are banned is also the worst case scenario if your government is really serious to prevent them from the market. You might need to go to other country so you can use them.
You would only need to do that if you plan to buy something physical with it, but if you want to buy digital products then the only thing you need to have is the website that accepts your bitcoin and if a government went as far as blocking those websites then you will probably need to use the option that you recommend, move to another country to use your bitcoin.
full member
Activity: 269
Merit: 100
Well, I don't think any government can block bitcoin completely since they would have to shutdown the internet to block bitcoins cause like what @Barcode_ said if they shut down crypto exchange sites, you can still access them by using Proxy/VPN or VPS. Governments can only make it illegal but they can't ban it completely.
member
Activity: 126
Merit: 10
No, it is not possible for the government to fully block crypto-currency usage in the country, because the citizen could always use a vpn service and access crypto-currency related site, the only thing the government could do is to regulate the exchanges that deal with crypto-currency, by enforcing rules and regulations on users to submit proof of identification for using the exchanges services.

That would in effect seriously hamper if not inhibit using bitcoin. My .02$
staff
Activity: 3248
Merit: 576
Join the world-leading crypto sportsbook NOW!
No, it is not possible for the government to fully block crypto-currency usage in the country, because the citizen could always use a vpn service and access crypto-currency related site, the only thing the government could do is to regulate the exchanges that deal with crypto-currency, by enforcing rules and regulations on users to submit proof of identification for using the exchanges services.
sr. member
Activity: 491
Merit: 250
Yes it is, but its going to be very hard to be fully enforced. Since bitcoin guarantees you anonymity then you can be sure that even if the country puts down twenty laws against that nothing is going to happen.
member
Activity: 126
Merit: 10
It's possible. For example, if there are no exchanges that would accept your btc and convert it to cash then it's useless having bitcoins in that country. All of the sites that are connected to btc are banned is also the worst case scenario if your government is really serious to prevent them from the market. You might need to go to other country so you can use them.

The EU for one is thinking hard about blocking it.
hero member
Activity: 811
Merit: 512
Enhalo Mining
It's possible. For example, if there are no exchanges that would accept your btc and convert it to cash then it's useless having bitcoins in that country. All of the sites that are connected to btc are banned is also the worst case scenario if your government is really serious to prevent them from the market. You might need to go to other country so you can use them.

Why Bitcoin would be useless if you could not convert it to cash. You can use Bitcoin, it's enough. You don't need to convert to fiat money. Just use Bitcoin.
If websites connected to Bitcoin are banned by the governement, you can always use a VPN to bypass their censorship. Really nothing to worry about...
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
Any country that attempts to do that has to be kidding. Bitcoin is anonymous for christ’s sake so how would you plan on blocking it when you don’t even know who is carrying out the transactions.

It's actually not that hard.The chinese firewall for example might do the trick with some tricks added.
Right now bitcoin uses for default port 8333 and the number of users actually capable of forwarding a port might be less than 0.1 % of this board.

But if they were totally against bitcoin and try to make an example of it they could do it far easier.
Declare it illegal and then have 50 or 100 people executed in a stadium like they did a month ago with 13 drug dealers.
Are you going to risk your life for bitcoins? Doubt it.

sr. member
Activity: 364
Merit: 250
It's possible. For example, if there are no exchanges that would accept your btc and convert it to cash then it's useless having bitcoins in that country. All of the sites that are connected to btc are banned is also the worst case scenario if your government is really serious to prevent them from the market. You might need to go to other country so you can use them.
sr. member
Activity: 728
Merit: 250
Any country that attempts to do that has to be kidding. Bitcoin is anonymous for christ’s sake so how would you plan on blocking it when you don’t even know who is carrying out the transactions.
Maybe they do not have a direct way to block bitcoin, but if they find a way to differentiate between normal traffic and bitcoin traffic they could try to block it, or they may try to block websites that talk about bitcoin like this forum and exchanges.
hero member
Activity: 910
Merit: 500
I think its hardly not possible for a country to do so.Bitcoin could not be completely banned unless internet is banned.If it had been possible to ban or block bitcoin,then countries like china,russia would have already banned bitcoins instead of regulating it.Almost all countries are aware of the fact that bitcoin could not be banned.Only thing they could do is to just regulate bitcoin exchanges in the country which china and russia has been doing now.
yes if they want it they will hold or block it, i think every country has the right to do it and every country has the department to do it, and they can regulate people on when and where they will about to surf if its in bitcoin or in other sites. but as long as they didnt prohibit bitcoin to its countrymen then it is good.
legendary
Activity: 1134
Merit: 1010
BTC to the moon is inevitable...
Any country that attempts to do that has to be kidding. Bitcoin is anonymous for christ’s sake so how would you plan on blocking it when you don’t even know who is carrying out the transactions.

it is not as anonymous as you may think although it can not be completely blocked. but causing a lot of troubles is easy, just announce it illegal and people will simply stop using it!
hero member
Activity: 1428
Merit: 653
Leading Crypto Sports Betting & Casino Platform
I think it's possible for the government of a country to block bitcoins or all of the other cryptocurrencies but whether they will be successful in doing so is doubtful. They have tried to curb so many illegal things which can be done with the fiat in the past but haven't been successful in abolishing them completely, people always come up with a way or two to make governments efforts in blocking something ineffective and keep on doing things they love and make money with so it's useless for governments to block bitcoins rather they should try to legalize it.
sr. member
Activity: 2506
Merit: 368
In what matters or problem why would the government is blocking bitcoin in your area? As far as i know the government doesn't care about much for bitcoin as long as it is not causing any trouble for any certain areas.

For the record if the government will ever going to do that i think there is already a chaos happening because if they did block it like what you said 'block the IPs/ISPs' there's a serious business going on that matters about the crypto currencies world.

I think you were just thinking too much or beyond because first and foremost why would they have to block it anyway? People can always find a way to access the internet even if you have to block their ISPs or IP addresses, so it doesn't make sense at all.
legendary
Activity: 3094
Merit: 1127
Just like the title says, is it possible to block crypto currencies if the government decides to?

They could enforce the ISP to block online payments made or something like that, is it possible?

Its possible to block some sites that do related on crypto or any other services related to it but its impossible to block it completely or restrict people on engaging on it. We do know there are lots of ways to access without being traced or blocked. Theres vpn services specially on using Tor too, you can access anytime without their awareness no matter how hard they try to block. Its impossible to isolate such thing.
sr. member
Activity: 1722
Merit: 300
Any country that attempts to do that has to be kidding. Bitcoin is anonymous for christ’s sake so how would you plan on blocking it when you don’t even know who is carrying out the transactions.
sr. member
Activity: 728
Merit: 250
Just like the title says, is it possible to block crypto currencies if the government decides to?

They could enforce the ISP to block online payments made or something like that, is it possible?


Not really doable.

cryptocurrencies are designed to counter this sort of government intervention in transactions. There is no central point of failure, for a country's government to say no to bitcoin completely they would have to shut down every single node that runs bitcoin which is impossible. This is in stark contrast with centralized payment processors such as LibertyReserve and e-gold which all got taken down very easily.

Your idea about ISP blocking online payments will firstly spark public outrage and secondly, probably wouldn't work very effectively as workarounds can be implemented quite easily. And plus, how are they going to block bitcoin transactions in the first place? I'm not aware of any obvious ways of doing that.


The only way I can imagine a government blocking transactions could be if they got their own mining equipment and use it to try to get 51% of the hash power and then reject all transactions except their own but that will be very costly to do for any government.
hero member
Activity: 1008
Merit: 531
Just like the title says, is it possible to block crypto currencies if the government decides to?

They could enforce the ISP to block online payments made or something like that, is it possible?


Not really doable.

cryptocurrencies are designed to counter this sort of government intervention in transactions. There is no central point of failure, for a country's government to say no to bitcoin completely they would have to shut down every single node that runs bitcoin which is impossible. This is in stark contrast with centralized payment processors such as LibertyReserve and e-gold which all got taken down very easily.

Your idea about ISP blocking online payments will firstly spark public outrage and secondly, probably wouldn't work very effectively as workarounds can be implemented quite easily. And plus, how are they going to block bitcoin transactions in the first place? I'm not aware of any obvious ways of doing that.

hero member
Activity: 1008
Merit: 501
In my opinion it is not possible in every country to block bitcoin (or even all crypto) but depending on the state within the government that does not want bitcoin to break in their official currency ( bank )
Maybe not all countries will block on bitcoin, for example my country. In my case bitcoin is not prohibited but not legalized. So all risks borne by the users themselves. The government will not interfere with interests in cryptocurrency. I think it's better than banning bitcoin
full member
Activity: 126
Merit: 100
It is very easy to do by the government to block the bitcoin wallet and its trade. Maybe if a country indicates a big problem with bitcoin use and the amount of money laundering in that country with bitcoin mode .. maybe that could happen. Criminality caused by bitcoin transactions to the detriment of a country. It will cause the state will not allow bitcoin to flourish in that country.
Pages:
Jump to: