Why Bitcoin can't be banned - page 12.

vv181

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Quote from: Linkkoin on April 24, 2019, 11:40:31 AM

Bitcoin will not be banned but will be traced.
~

Actually, Bitcoin is being traced, that is why centralized exchange wanting KYC, and that is the reason ant blockchain analysis companies exist. Bitcoin natures are a pseudonym. Right now, we need to put some extra effort to gain full privacy and anonymous using currency. At least, until the technologies somehow 'significantly improved'.

In other hands, I'd agree with @mjglqw and @squatter, Thanks to decentralized and open sources nature of Bitcoin, the network and the system can't be manipulated with any centralized entities, but it comes to other problems, we are as a community would definitely lag behind if the adoption process is being slowed down and prohibited by government.

munareal

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It is nice to know that one can use his Bitcoin with out hindrance. The Government of a country that is against Bitcoin can not stop its usage. Bitcoin will surely rule the world

squatter

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STOP SNITCHIN'

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

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.

They can't enforce a ban effectively, but they can certainly hamper adoption. If a government officially prohibited its usage/ownership, I'm sure that driving it underground into the black market would hamper usage and adoption there. They could never really stop people -- we have encryption and there are simply too many of us. But you might be surprised how many people would fall in line if the government said so. I also think running mining operations at any real scale would be problematic under prohibition in that situation.

kryptqnick

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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.

Banning means officially forbidding to use it. They surely can do that, in my opinion. What they cannot do is, as was mentioned by some other members as well, prevent people from actually using it. In my country one social network is banned, but some people still use it. Russia not only banned but even tried to block telegram, but it wasn't effective.
Bans are still important, though, because not everyone is okay with facing penalties or even simply breaking the laws. If bitcoin were banned under death penalty, would you still use it? And what if the penalty was a big fine? The stricter the penalty, the less people will use it. For the community to thrive, we need it to be legal.

okala

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

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.

Is the Chinese government banning bitcoin or regulating the virtual agent's, because the last I hard from China is the stopping of bitcoin mining farm's, the point here is very clear even in China today the citizens are still using bitcoin freely so I still agree with the author of the article no government can ban bitcoin, before bitcoin can be unaccessible to the public is when the whole internet is shutdown which is impossible. This is why bitcoin is some time call the internet money.

Rana590

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It has own block chain. Bitcoin and fiat currency is not same things. They are different from each other and government can't handle it. Government can announce some notice but can't control it. Bitcoin is a decentralized crypto currency. Banning bitcoin from user is really not possible.

tomahawk9

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

So why giving a fuck to "I'm afraid my country will ban Bitcoin!"

I think people are afraid of the negative impact that such decision will cause in their country.

The perception that the general public has over Bitcoin will change dramatically if a govt decides to ban bitcoin, they'll see bitcoin as something illegal, anyone associated with it will be seen as a "criminal" (the masses can sometimes overreact), if you get caught using it (buy/sell stuff with btc, converting to fiat, etc), you're gonna face serious consequences like fines or something more severe (obviously, depending on how strict the ban is).

Adoption in that country will most likely stop, no one will accept btc as a alternative payment method (not legally), you won't be able to trade it as exchanges will probably shut down, you're left with something that can act as a store of value, which is great, but you won't be able to use it freely, anyone who wants to get involved with btc in a country where is banned will have to do it secretly, in the underworld, not that cool tbh.

Linkkoin

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Bitcoin will not be banned but will be traced.

Privacy coins on the other hand surely will get banned, sooner or later because the privacy modes can POTENTIALLY be used by some sort of wrongdoers. No matter if you want to make someone a surprise gift, want to buy some kinky fetish lingerie or you could have a chance to buy something illegal or pay for illegal services unnoticed.

mk4

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I mean, they technically can't stop us from using it, which is good, but I'd be lying if I said that I'm fine with countries banning bitcoin. From the fact alone that exchanges will be banned by the governments, it would be very tedious to try to get in and out of bitcoin. We would need to do it with black hoodies and do it on dark alleyways to be able to transact locally.

Jating

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

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.

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.

Bitinity

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Quote from: Haunebu on April 24, 2019, 10:05:45 AM

Quote from: sheenshane on April 24, 2019, 09:59:47 AM

However, banning it with the part that stopping and not allowing people to accept it and use it as a payment method is the thing to consider. You may have a bunch of bitcoin. But what would be the sense of it if the government already issued a law for the people not to accept it and not to consider the value of it? The government has the power to stop people from using it and consider it as an illegal deed.

So? Who cares if the government considers it as an illegal deed? Not everyone cares what the government think. If that were the case, no one would download torrents and no one would visit the dark web.

For example, the Indian government banned crypto exchanges completely, but Indians execute Bitcoin related transactions regularly through P2P platforms like LocalBitcoins.

Once the government bans bitcoin, most people cares about it. Those who do not care about the bans are those who do not afraid to be punished or getting sanction from the government. It is true that there is always a way to access it although it is banned, I my self wont care about it too much but I'll be more careful.

DreamStage

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You are basically asking why Bitcoin can't be centralized...

That's the first reason why it can't be banned, also due to being on a world wide network where everyone configures / changes it as they wish.

Such examples on why isn't bannable is because it's open source and you can still make derivates from it.

Haunebu

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Quote from: sheenshane on April 24, 2019, 09:59:47 AM

However, banning it with the part that stopping and not allowing people to accept it and use it as a payment method is the thing to consider. You may have a bunch of bitcoin. But what would be the sense of it if the government already issued a law for the people not to accept it and not to consider the value of it? The government has the power to stop people from using it and consider it as an illegal deed.

So? Who cares if the government considers it as an illegal deed? Not everyone cares what the government think. If that were the case, no one would download torrents and no one would visit the dark web.

For example, the Indian government banned crypto exchanges completely, but Indians execute Bitcoin related transactions regularly through P2P platforms like LocalBitcoins.

sheenshane

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Banning in bitcoin's ecosystem is really nearly impossible. You are right with your point that bitcoin is an opensource platform and it is not made to be regulated and is the user's choice and risk to use it.

However, banning it with the part that stopping and not allowing people to accept it and use it as a payment method is the thing to consider. You may have a bunch of bitcoin. But what would be the sense of it if the government already issued a law for the people not to accept it and not to consider the value of it? The government has the power to stop people from using it and consider it as an illegal deed.

alisafidel58

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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.

LeGaulois

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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.

Topic: Why Bitcoin can't be banned - page 12. (Read 2289 times)