Topic: Is it too late to make bitcoin illegal? (Read 2261 times)

http://www.coindesk.com/bitcoin-foundation-bangladesh-ban-bitcoin/
The Bitcoin Foundation has issued a new statement suggesting that it is currently investigating whether bitcoin and digital currency transactions are now illegal in Bangladesh.

there is some countries that have made it illegal
but although that happens,they simply cannot make nothing to stop bitcoin
bitcoin is unstoppable

Not developed countries claim it is as illegal.

For the rest is ok.

A bit to late they set all the frameworks to get it in place and built up
Would be counterproductive to do a 180 on that now.

That said death by over regulation is still possible lol.

Probably not but they still can make laws/regulations which might render BTC useless for some people.

Silly argument. Bitcoin was legal when they sold it. It can be made illegal at any point after that and the FBI still didn't break any laws.

-C.

Yes true everyone is becoming Bitcoins bitch now, from Angela Merkel to Ban Ki Moon.

Well illegal or not, they can not stop people from using it anyways. Bitcoin is already spread out quite a bit, and I'll say that it is too late for most countries.
Sure there are some (ignorant ones) that have banned/prohibited use, but it's their loss.

In USA and most of Europe yeah its way too late even the main streamers would smell a rat.  Perhaps they still have time to come up with a different category vs "illegal"?

you can make it illegal,but you can't stop it

Under what legitimate grounds do these bastards even have to make something like bitcoin illegal?

Unless the whole world makes it illegal or else people will still use bitcoin is areas of the world where bitcoin is legal.

+1
shortest and best explanation ever

for those that do not understand
alcohol could not 100% be stopped, all they could do is threaten peoples freedoms if they are found with it. you cant stop the product you can only control the people.

alcohol can be bought from other countries, so can bitcoin
alcohol can be produced without telling the government, so can bitcoin
even if governments at one point themselves stored/produced or sold alcohol a prohibition is simple making it illegal for PEOPLE to produce/store/sell during a period of prohibition.

nothing can kill bitcoin, but government can affect PEOPLES lives. much like how private trades on OTC/localbitcoins/VC investments is growing. but the volumes of trades on AMLKYC exchanges is decreasing.

hopefully sheeple will wake up and realise bitcoin will still exist in decades to come, and that its only PEOPLE's mindset and blinded vision that is affected by government.

do not rely on judging bitcoins market cap of 13million coins based on small trades done on crappy exchanges that are full of satoshi dust amounts and an occasional wall of 200 coins. wake up people many smart people are still trading at $500+, smart merchants and investors are still adopting bitcoin and it is growing. dont rely on only crappy exchanges as your opinions of bitcoin.

I'm sure if it was feasible there would have been more countries 'banning' bitcoin, at this point in time I really don't think it's anything to worry about.

Governments can make Bitcoin illegal all they want and about the only way that would be successful was if they found a way to completely destroy networking infrastructure within their nations, too. Even then, there could well be a few paper wallets and QR codes floating around.

For many countries it is too late such as USA, Canada, Australia, UK etc. Some of them have built increasing mature bitcoin eco system. Many startups are there to pay taxes to governments and offer job vacancies to the public. Many merchants and customers are using bitcoin. Bitcoin is gradually becoming a necessary part of their daily life.

Prohibition?

I don't know if people would really fight it, at least in large numbers to make a difference. :/
Not many people know or use bitcoin, and worse things have passed before.

Banning or making it illegal isn't going to stop people from using it. Drugs are illegal but because of that they've become an untaxed multi billion if not trillion industry.

It's never to late and they could pass laws to make it ilegal, but if they did this in the western world like in a country like the US or UK you can expect people to fight it.