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Topic: Why Bitcoin can't be banned (Read 2274 times)

cgvnrbds

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CarnagexD

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Well for one, it is decentrakized, so as long as we are not being run by a one world government, bitcoin is safe. And it's also anonymous, it allows people to use it without their identity being checked, so much so that is even used for illegal purposes like smuggling and drug purchase. As for bytes and bits, there may not be a dedicated kaw for it but certain parameters can be ticked off and on in order to pass a law.

Nikole Fischer

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It’s very hard to regulate something that’s decentralized.
The blockchain is an incredibly resilient technology, can’t be controlled, can’t be banned, can’t be stopped.

erikoy

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Quote from: ?? on ??

I think that the author of that article should speak with the Chinese Government since they are now banning bitcoin. We all know that once the Chinese Government moves it's for real. Too bad for Chinese people who use bitcoin and other cryptos, lucky for us since our government thinks the same as the author of this article...

Well, you can't be sure that there will be no chinese people using bitcoin now. Any country could express the ban of bicoin but they could not totally prohibit bitcoiners to find way to make its access. Remember that bitcoin uses p2p network and everyone is part of it. So chinese people could still access bitcoin knowing that they should not be getting caught by their government authorities. Anyway, every countries has priorities now to settle and that bitcoin is lesser compared to other issues being face by so many countries like this pandemic.

Vageta420

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Quote from: LeGaulois on April 24, 2019, 09:31:38 AM

I would like to take up the points of an article published on Bitcoinist. (Even if some will say that this media is Pro-Bitcoin the points are the most important.)

Quote

1. Laws Can’t Be Written Against Bits and Bites
2. You Can’t Ban Open-Source Distributed Software
3. Bitcoin Can Be Broadcasted via Satellite
4. You can Send Bitcoin Via SMS
5. You Can’t Shut Down the Power Grid

Any regulation can't prevent us from using Bitcoin. Despite their attempt to keep an eye on the system, it is simply impossible for them to ban people using it. So why giving a fuck to "I'm afraid my country will ban Bitcoin!"
They have nothing to fully stop the ecosystem that is currently emerging.

Interesting read. Thanks for the share.

I don't think BTC could be banned and now I see why that could be true.

angrynerd88

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It may be inconceivable to physically boycott Bitcoin. But at this scenario, the financial institutions and government specialists are competent of anticipating the utilization of Bitcoins, by capturing its clients. This strategy has been utilized by third world countries such as still asian banned it, to frighten absent individuals from executing with BTC.But also asian developed countries have flexibility to legalize the Bitcoin that common people get benefit from it.

Charles-Tim

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Quote from: ?? on ??

banned bitcoin ?? who can ban bitcoin, and why is that being done? right now bitcoin has no offices, no workers, no directors. because bitcoin is not a product of a company, so it is not the authority of the state or anyone to ban bitcoin. Bitcoin is not easily banned like banned porn sites

You are right, but these are not the only reasons why bitcoin is not banned. Despite these, bitcoin is banned in some countries, there are strict ways governments can make sure people do not really make use of bitcoin. But, what I have noticed is that bitcoin is liked by people, and many government officials are even having bitcoin and will do their best not to ban it. What really make bitcoin successful are what you commented that it is decentralized, but also deflationary.

Debonaire217

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Quote from: LeGaulois on April 24, 2019, 09:31:38 AM

I would like to take up the points of an article published on Bitcoinist. (Even if some will say that this media is Pro-Bitcoin the points are the most important.)

Quote

Despite of the anonymousity of the owner and the dectralization of the currency, I must say law makers have the capability to ban bitcoin if there will be a powerful man that says to ban it. Laws are written in language that can uderstand by the people and very much likely laws are not going to be written in bits.

Some people are afraid of banning cryptocurrency on their ciuntry because they have sympathy. They think for their country too because not only them who are using it aside from the millions of people who are living in one country. Who knows? Maybe some of them rely on bitcoin. Other than that, any powerful and smart man can shut this if it will be debated to their congress and agreed upon that this will get banned.

Kong Hey Pakboy

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Bitcoin is decentralized that it has no central authority. Not even the government can control it. But they can restrict and banned the usage of bitcoin and other cryptocurrencies in their country like what other countries did like Algeria, Bolivia, Morocco, Nepal, Pakistan, and Vietnam. However, crypto users can still buy and hold cryptocurrencies in these countries in different ways, as long as they won't get caught by the authorities.

bryant.coleman

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Quote from: Masternode_Support on December 21, 2020, 12:41:01 PM

If a country bans it, it does not make any difference as other countries are not banning it simultaneously. Also, even if they completely and strictly ban it. Users can use various softwares to access the wallet. There is simply no way unless they take it as serious as child porn.

The only way to completely destroy Bitcoin is to ban internet. Even if all the countries in the world try to ban Bitcoin, it will exist as you need just a smartphone and internet connection to transact with BTC. Banning a decentralized asset is never going to work. If the authorities are that adamant, then I would recommend a 51% attack. But that is going to take billions of USD in funds and lots of manpower.

Wipeout2097

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Bitcoin is related with parts of individuals and parts of program and parts of web and other development.At display Bitcoin a few nation is considering to compare with keeping money system.Mostly enormous enormous financial specialist is related with Bitcoin trading.
I think in the event that parcels of nation think to prohibited it.its conceivable or not Since a few province presently running online promoting by utilizing Bitcoin so its not conceivable to prohibited person any govt or person any state.

Masternode_Support

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Argoo

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Quote from: Jating on April 24, 2019, 10:48:03 AM

Quote from: alisafidel58 on April 24, 2019, 09:40:19 AM

Chinese government can't stop bitcoin to be honest, there's a lot of OTC buying and I'm sure that trading underground will also occurs once they really put the ban hammer.

So it's really up to where we decided to live, if you are somewhat in a government wherein they have a hard stance, chances are, you might want to migrate to other nations wherein crypto is regulated.

If the decision to restrict circulation or prohibit cryptocurrency is made by a separate state, then of course, it is very difficult for it to control the implementation of its decision by citizens. Although in this case, when establishing criminal liability for the use of cryptocurrency,I think that many will not risk their freedom. But if such a decision is made by the G20 countries or even within the European Union, it will be much more difficult. It is better for a cryptocurrency not to conflict with states, but to try to coexist peacefully with them.

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GbitG

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Quote from: Nhor1011 on December 21, 2020, 09:04:04 AM

Maybe in different country who doesn't like bitcoin always try their best to ban bitcoin but unfortunately they could not do it. They can't stop people in using bitcoin. So far we can see different businesses accepting bitcoin and there are Bitcoin ATM machines in other countries which clearly means that bitcoin is useful and nobody can stop it.

After reading this all most of peoples sure no government can ban or stop this bitcoin and its reality because its really not easy for them just because of this now they are trying to control this all through centralized exchanges and rules or regulations which are contenting peoples to pass kyc for this all hopefully we will able to have some better way to stop this all but until now many P2P exchanges and sites already implementing this are very forcefully for members.

Traderbtcc

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If it were easy for the government to just stop bitcoin from working they would have done that a long time ago,but it's obvious they can't stop bitcoin from working, the only thing they can do is to prohibit the use of bitcoin within their country, since they can't really stop their citizens from making use of it, the only issue is how to convert the bitcoin to their country's currency, that's the only downside to bitcoin getting banned in a country, I pray that doesn't happen.

sapnu

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Quote from: NelfiNovita on December 21, 2020, 08:16:25 AM

Quote from: LeGaulois on April 24, 2019, 09:31:38 AM

I agree with your opinion, until now the government has not been able to cripple bitcoin so that bitcoin is becoming increasingly popular. If there is a government that wants to ban bitcoin, but their efforts are in vain, the proof is that until now the price of bitcoin continues to rise so that more people will know about bitcoin this year.

Our country experienced before a crisis in bitcoin wherein the government attempted to shut it down because there are plenty of new saying that bitcoin is a huge scam. After a few months, the issue just faded away all of a sudden and it was forgotten by everyone. In that case, we can already see that most of the government in the world doesn't have control over bitcoin's domination. It was the ignorance that caused this commotion and it is not surprising anymore since the cases why bitcoin is getting near from being banned because people are not knowlegeable enough about this.

Nhor1011

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shield132

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I have already posted a different opinion in this thread and I would stick with it that states that banning has no idea, they claim that bitcoin is the underground currency, so if you ban it what will change? Nothing, if we follow this accusation. If you make things illegal, people will always find a way to break through it and new method will be hard to catch in future but possible, it's a never-ending cycle.

But right now, a lot of companies implement bitcoin and a lot of them build businesses around it, it's getting stronger day to day, nothing has become so strong and popular in such a short time. We live in an era of information technologies, where innovations and new trends are coming quickly, everyone tries to follow the latest trends and bitcoin is that trend along with blockchain technologies, you can't kill the trend and it won't even die.