Will governments ban Bitcoin like they did with Gold? - page 2.

Yamifoud

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Of course, something decentralized is very detrimental to the government. As we know the government's financial system is not completely free from corruption. If they adopt this system how can they manipulate the finances they steal? everything will be transparent. And one big thing that stands in the way is that the state will benefit more from doing conventional banking.

They are absolutely corrupt and have greedy souls. They can easily manipulate the market as they are in full control of it but they can't do this for Bitcoin, they just fail. This the reason why they hated Bitcoin and ban this, but that is all they can do. People will find a way...and they can stop Bitcoin from spreading.
I just hope that the government will realize their doings, if they will ask people nicely to pay taxes for their Bitcoin, it can be possible but if they will remain harsh towards us, the more it creates misunderstanding.

shield132

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I hope they learned that ban has no idea. If there is demand, there will always be supply.
Gold was banned but what? Didn't people had gold? There was alcohol banned in America but what? Weren't people drinking alcohol? There are drugs banned but what? Aren't people using them frequently?

And in a digital world, it's very hard to ban anything or have control on things. Simply, why ban bitcoin when you can regulate and tax it? It's a better and wiser option for the government and they are doing this.
And if they want to lessen the number of people who use bitcoin, they'll simply pay influencers a lot of money to do anti bitcoin or crypto propaganda and the highest percentage of people will immediately forget BTC/Crypto.

But to sum up, it simply won't happen!

Welsh

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Quote from: AB de Royse777 on April 09, 2021, 04:11:33 PM

Over 10 years is a long time and bitcoin has gone through a lot. If this was possible then we would have died already. So just relax, I think it's impossible to destroy all nodes and hypothetically say they destroyed all live nodes - how would anyone destroy the copies that are stored in individual drives?

They don't have to destroy every node. Of course, there will always be people running nodes, and there will be a sort of rebellion whatever the governments decide to do. However, they don't have to destroy every single node, they just have to make it hard to use the currency legally. That way, you would be risking possible prison sentences if you continue to use Bitcoin. Do I think this will become a reality? No, what I do think will happen is there will be tighter, and tighter regulations on Bitcoin, and the propaganda machine will keep on turning.

At the moment, Bitcoin isn't exactly a threat. Most governments are successfully taxing, and regulating Bitcoin. Bitcoin, isn't becoming the new way of managing your money, so banks aren't that scared. Of course, a lot of us are using Bitcoin that way, but the majority are treating Bitcoin as an investment due to the volatile nature of it.

Tumanggor

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Quote from: Abiky on April 09, 2021, 03:42:15 PM

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

once Bitcoin is in the heads of 500 million people or more, then the government can't do anything about it
will the government stop the internet which is the only way to turn off daily Bitcoin transactions?

Banned Bitcoin is like catching the wind, it's completely impossible
right now all they can do is watch how the Bitcoin price in the market moves Cheesy

dimox

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Quote from: LoyceV on April 09, 2021, 03:45:43 PM

So that's like banning certain Base58 strings? Or banning the use of certain words? Good luck with that!

If they could ban Bitcoin, I think they would have done it by now. If my government bans my investment on which I've been paying taxes, I expect full compensation for my damages.

yeah, they already taxed us, and its not a little number. and im not sure, government will thinking to give compensation, and they just what make them take a profit.

Quote from: Expecto on June 19, 2021, 02:05:44 AM

Some governments already banned Bitcoin and China is one of them. But these actions won't end Bitcoin. Its news can just affect the price for some time. Then, things can continue like always. And I don't think that all the governments in the world will do this. Because I think that most of them are aware of how much extra power they have with cryptocurrencies.

people will think to make the other way to access bitcoin, if it really make them rich. rather than to stop or ban, its more useful take the advantage of cryptocurrency

Expecto

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Some governments already banned Bitcoin and China is one of them. But these actions won't end Bitcoin. Its news can just affect the price for some time. Then, things can continue like always. And I don't think that all the governments in the world will do this. Because I think that most of them are aware of how much extra power they have with cryptocurrencies.

22bits

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Quote

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago.

Pretty hard to ban it unless you are a country like North Korea. Probably hard to get a VPN there

You could make it difficult to go from fiat to BTC, but don't see any way to do an outright ban.

Abiky

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Quote from: datguyian on June 03, 2021, 10:54:28 AM

Banning gold is easy because you can stop it at the airport, it is visible and physical. You just confiscate it if somebody tries to transport it. Much harder, if not impossible with Bitcoin in my opinion.

That's certainly true, mate. Banning Gold is easy because it exists in physical form. But that's not the case with Bitcoin these days. With nodes distributed across the globe, banning Bitcoin in its entirety may seem to be an impossible task. Governments are already noticing their efforts in trying to destroy Bitcoin are futile. They're forced to either join the game or be left behind in the dust. A Central Bank Digital Currency (CBDC) will give governments the leading edge, as they challenge Bitcoin's existence in the long term. While I don't think Bitcoin will disappear, its usage might be reduced to a minimum. After all, most people will experience the benefits of crypto/Blockchain tech via government-issued currency. Of course, this comes at a cost of centralization. But nobody cares about this as long as convenience/ease-of-use is put on top of everything else. With or without a ban, Bitcoin will thrive as sound money for everyone. Just my thoughts Grin

Obito

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I don't think that they will be able to do it though, they don't have the enough resources especially the third world country to monitor evryone who uses bitcoin or cryptocurrency, the people will find a way to not get caught using it.

samsul1234

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Quote from: Abiky on April 09, 2021, 03:42:15 PM

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

hello sir, yes i understand what you are asking, i think the government is too late to ban bitcoin at this time, because of the large pattern and circulation, it is likely that the government will let everything run as it is, bitcoin is currently in a larger development phase, everyone the program has also been updated, so the barrier will not be able to ban bitcoin because now bitcoin is growing faster and bigger

harlequininja

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This is a pretty good article here:

https://www.epsilontheory.com/in-praise-of-bitcoin/

The problem is not banning bitcoin. They will only do everything to make it as traceable as usual transactions and then they will create more derivatives and dump it on wallstreet...Like they did with gold and silver. Then they have full control again, while some think Bitcoin means opting out or censorship resistance.

The only way to keep Bitcoin a free and censorship resistant money is to improve privacy further and setting standards when it comes to efficiency of mining facilities.

iamsheikhadil

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I don't really know about other countries but me living in a democracy, am sure any democratic country will think many times before making such a move, specially when there's a large percentage of the population is using or trading the crypto that they want to ban and punish the holders for. But yeah, some countries, they can place bans on it by punishing with jail to anyone who's involved in it, and automatically a fear will create and many if not most people there would stop using it, but then again, the government would just be exposing to the world how bad they are even in 21st century!

grabpopcorn536

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I think ban trading as a currency, they can't ban people from holding as an asset. In fact, many countries ban gold from being used for payments because it would put their national currency at risk.
Bitcoin has been recognized by many organizations and countries so they already have laws for cryptocurrencies. I'm not too worried about bans because they are temporary. Governments have to keep up with the trend because now institutional investors and people around the world are supporting Bitcoin.

Issa56

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From the little experience am having I believe the government won't be able to ban bitcoin they way they banned gold, the only thing I believe the government can do is keep on crashing bitcoin price but u don't believe bitcoin can't be ban. People have been saying different things but I just believe all what they are saying is just to scare people government can't really do anything about bitcoin because the way bitcoin and cryptocurrency is currently I believe with time government won't have choice than to adopt it.

Lanatsa

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Quote from: conected on June 03, 2021, 01:52:54 PM

Quote from: sapnu on June 03, 2021, 10:44:13 AM

Quote from: Abiky on April 09, 2021, 03:42:15 PM

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

There are plenty of countries already that has banned bitcoin and it is not so far from happening that every country will come together against bitcoin. It might be something we should be scared of but after all we still have the decision on what we are going to do with our financial freedom. There are many people who lives in countries where bitcoin was already restricted yet they still manage to find ways on how they can access and earn from it. The government might have the power to stop other people but there will always be some who would find ways no matter what.

- Indeed, many countries have noticed the volume of capitalization being pumped into the crypto market, too much attention and when the media has been talking too much about crypto, the government already knows this time is in need of restriction but compared to many other issues, crypto is only a temporary threat and needs temporary solutions. Many people in banned countries are still quite comfortable with computers and phones in accessing bitcoin, perhaps the consensus of the governments is still too long to be implemented

Or wouldn't really be implemented at all because no matter how hard they would try but still wont be enough if we do talk about banning it completely or getting rid of it.

We have seen lots of situations on where some governments in other countries which they do make out such banning and prohibition but what happened?

Most of the government is fully aware that they couldn't do such thing if turns out to be mainly support and due to technical factors then
some of them do give up with that common goal.

ziyaaa

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There are already some governments that prefer banning Bitcoin for this reason. China is the biggest example. They are afraid of the cryptocurrencies as they can cause yuan to devaluate too much. But for example, the USA is not doing such thing. It is also aware of this threat but it is working on this to prevent such thing from happening.

conected

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Quote from: sapnu on June 03, 2021, 10:44:13 AM

Quote from: Abiky on April 09, 2021, 03:42:15 PM

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

There are plenty of countries already that has banned bitcoin and it is not so far from happening that every country will come together against bitcoin. It might be something we should be scared of but after all we still have the decision on what we are going to do with our financial freedom. There are many people who lives in countries where bitcoin was already restricted yet they still manage to find ways on how they can access and earn from it. The government might have the power to stop other people but there will always be some who would find ways no matter what.

- Indeed, many countries have noticed the volume of capitalization being pumped into the crypto market, too much attention and when the media has been talking too much about crypto, the government already knows this time is in need of restriction but compared to many other issues, crypto is only a temporary threat and needs temporary solutions. Many people in banned countries are still quite comfortable with computers and phones in accessing bitcoin, perhaps the consensus of the governments is still too long to be implemented

capcaypro

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this will be very difficult to happen, even though it is prohibited there are still many people who still hold bitcoin and farm bitcoin even though it becomes illegal. and I think this prohibition is very difficult to happen, even if it happens the impact will certainly be very large and a few years after this prohibition will definitely be reopened and legalized again, because back to what was previously there will be many people who will do it even if it becomes illegal.
and how to eradicate this will surely be as difficult as eradicating crime and drugs in the world.

speedy963

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You know what op, in today's time, it's quite hard to find anything that would be impossible to happen in this industry. Just look at what happened with doge and other meme coins that are utterly useless, didn't we think last time that such things happening are impossible? The case with this one is quite the same. Indeed it is already quite too late for the crypto industry to be banned entirely. But even so, it is doable if a scenario like what you said really does happen where different countries all unite and agree to ban crypto currencies(but then again, unity is impossible when we talk about the whole world). And so, proves that possibilities are endless in this industry.

ropyu1978

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if the government bans bitcoin at a time when not many people understand bitcoin, I think it can happen, but if the government wants to ban bitcoin for now, I think this is very difficult, because bitcoin has been around for a long time. than 12 years, and Rich people have also played a lot in bitcoin, like Brian Armstrong, Sam Bankman, Chris Larsen and others, making it difficult for the government to deal with rich people like them.

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