Topic: new possibilities of government crackdown on bitcoin (Read 327 times)

Depends on what country you reside in and where you will be keeping your bitcoins. If you have your Bitcoin stored offline I wonder how you will lose it. You could still use VPN to access the bitcoins incase your country is blocked by your wallet provider. It's also better you trade on decentralized exchanges if your country plans to ban Bitcoin in the future.

Governments are still suppressing Bitcoin in form of cash settled contracts, which basically means that investors have a legal financial product to buy into without it being backed by the underlying asset.

It's also playing a role as to why we don't get an ETF, because that's not something the government wants to help with as an ETF will surely cause the price to experience new influx of billions in institutional capital.

The good thing is that Bitcoin never needed any of these financial products, but it's obviously nice to see the price go up a lot, which is the main reason for most people to be here.

Diversification should be do in Investments, why put all in one basket when there are many ways to put other investments especially if you still have doubt in it like government crackdowns that might happen in the future, but it will not be easily to do it there might also consider it we don't know what lies ahead so be smart now and take time to earn while it's still capable.

No one can stop the development of this market because it is an independent market and there are always many big changes so in the near future, it will provide a lot of solutions in daily life. Currently the government always prohibits investors from talking about this issue but they still choose to participate and invest because this is the best opportunity for them to make money in this market.

I believe that one day my friends may know about this market and they will support me more because for the past 2 years everyone has been suspicious of my current job.

Governments have also tried earlier to supress the growth of bitcoin and other altcoin but have failed to do so and you are talking about ten years forward and nobody knows exactly what will happen as decentralized and highly volatile currency like bitcoin can turn the tables in favour or against you.Just relax as chances are that most of them will favour it in long run and implement it as mode of payment in their financial system.Always be positive and always have second option for your funds to be safe.

If Bitcoin remains only a means of accumulation and a valuable asset with high volatility, then no government will be able to control and influence cryptocurrency.  But the goal of cryptocurrency is not only this, because you need to look into the future.  If there is no real legalization of cryptocurrency, then no businessman will accept cryptocurrency for use in his business.  Each businessman makes a report on his activities and will not violate the law if cryptocurrency is banned.  I believe that in this case the value of cryptocurrency will be limited.

I think no matter how much they try this is a decentralized p2p system so they can't really "ban" it and they are realizing this slowly, sure it will take a bit more time to make sure they understand it fully because places like China for example can't really understand why their people are not following what they are saying because if you take the power out of government of a dictator and give it to people the dictator expects people to keep obeying them but it fails since it is a private hidden thing that dictator can't do anything about.

So, they could ban the bank movements of crypto related stuff and all that but they can't really do anything else, it is just a ban on the banks even if they do that, you can still do crypto related stuff but can't withdraw to bank.

The government crackdown situation toward bitcoin will always happen but the reason why some of the governments does that is because of their self-interest cause they believe bitcoin will make their national currency obsolete and I believe the things done by the Chinese government is enough to make you totally understand. Mind you, their crackdown will only affect bitcoin price for some time and if you want to invest in bitcoin you can do that now while you set aside some capital which you can use to accumulate more coin when FUD happen.

A government crackdown won't happen anytime soon, the way that the laws and our regulations are progressing towards favorable outcomes for Bitcoin, I don't see any kind of scenario where the government will suddenly shift their views and look for in the opposite direction. With our current situation the government is well aware that criminals and other illicit activities are being done with the help of Bitcoin especially anonymity focused coins but they still don't see it as of the biggest flaws with crypto instead they still focused more on enforcement and kyc procedures so that their crypto industry can still be at play for them. The way I see it there will be no kind of scandal that will change their views towards crypto.

The government are not fans of bitcoin as they cannot control it. So, there will surely be a government crackdown in the future. In fact, crackdowns. But, will they be successful? I don’t think so. I think it will get to a point when the government will just accept crypto and look for a way to work with it. However, it is advisable you Invest smartly. Don’t go put all your money on bitcoin or any other crypto.

The possibilities of a crackdown is endless, though of course as long as there are developments made towards the good of bitcoin and the protection of consumers, I'd say that most governments would certainly just choose to tax bitcoin-based sales/trades rather than outright banning them and restricting an avenue for their people from bringing in some money to the table. Some are still completely awry about it, not gonna lie but then again you still have some countries spearheading the developments in the said field such as Japan, some EU countries and of course, the United States.

I am going to do it anyway. No gut no glory!

People.... Let me break it down for you. As I read through all these comments, I realize that most of you are not worried about the governments or see them as a big threat. I find this very disturbing. Yea Bitcoin/Cryptos are decentralized but that does not mean its immune to everything. There are plenty ways to skin a cat. Listen, The governments DON'T like Bitcoin/Cryptos, It poses a big threat in many ways because they are quite happy and comfortable with the current system they got going on.... They can always print or loan out imaginary money which is backed by nothing, they can spy and trace all your funds/movements, they can freeze all your assets because the banks are centralized and will do what the government says. They can say Bitcoin is like the dark web where criminals roam and buy illegal stuff, bitcoin funds terrorism and money laundering, bitcoin is good for tax evaders and crooks that want to hide/move large sums of money. Governments love to have visibility and control, quite frankly, Bitcoin does not give them that. As we speak, they are already taking the necessary steps to kill bitcoin. I am witnessing this first hand while living in different countries. They are blocking crypto websites. They wont outright forwrd you to a screen saying that the website is blocked, you will just notice that the site wont load. They blocking almost everything crypto on government computers... Facebook ADs are making it very difficult to place any ads related to Cryptocurrency. They are getting disproved and saying you need special approval to play an ad in that category.n They are cracking down on online crypto wallets to block/ban users that use they bitcoins/cryptos to play on/transfer funds to and from Gambling sites. The list goes on and on..

when they say don't put all your basket in one egg it also means set aside something that you can work around with the government. don't just distribute your wealth to cryptocurrencies. cracking down bitcoin will take a lot of years for them before they give up. for the mean time you can be assure your btc in your wallet is safe and when time comes you are prepared when BTC finally arise. you can move to another country though, there are countries that are open to crypto

Every government is different, China and India do crack down on the presence of bitcoin in their countries, but not in other countries, justu can get support from the government, for the next 10 bitcoin is increasingly known among many people, including the government, one day definitely use blockchain technology.

A wise investor never had that kind of perspective.
Why would you put everything in one basket? Yes, for me bitcoin is something else but it doesnt mean I will risk it all in it.

Where are you from? I mean what country?
Look, if you are having doubts, them put it in different baskets. Do not just put everything with one and be scared the rest of your life.
It is not supposed to be like that.

The United States currently might or might not be considering it, but it doesn't mean that they won't consider it in the near future. Especially as bitcoin grows and becomes more and more difficult to shut down as time goes, and as bitcoin becomes more and more of a risk to them.

That's always great advice, and especially nowadays when you have things like Libra getting extreme scrutiny from the government.  Who knows what's going to happen, what laws are going to be passed regarding bitcoin? 

OP, any single government could crack down on crypto, but it would take a bunch of them altogether to really have an effect.  I don't think the United States is going to do anything as far as outlawing bitcoin, even if they're giving Facebook a hard time.  Bitcoin isn't a stablecoin like Libra is supposed to be and isn't really a substitute for fiat.  Still, you just never know what these asshole lawmakers are going to do. 

Anyone remember Prohibition in the 1920s?  Yeah, the US government was responsible for that failed experiment as well as the current war on drugs and everything else.  They think they can legislate the world into being clean and squeaky, but they're silly for thinking that.  My point is that I wouldn't put it past them to try to make crypto use illegal.  But even if the US did it, it's only one country and it wouldn't necessarily stop people anyway.

Invest those money that you can afford to lose. I heard this type of news many times.maybe chaina banned bitcoin 2-3 times. In 2017 china banned bitcoin and bitcoin crashed 4100$ to 2000$. Then I have one question, why China branned for 3-4 times? 1time is not enough? Maybe they are playing with crypto.And I don’t care which country banned bitcoin.I have fixed amount of bitcoin that i am hooding.i will hold 2-5 years.             

before investing in bitcoin, of course you already know the risks, so you have to adjust how ready you are to take the risk, no one knows for sure the future of bitcoin, although the government supports or does not support if the price of bitcoin falls continuously, You will also still lose your money.