Topic: Will governments ban Bitcoin like they did with Gold? - page 3. (Read 1177 times)

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.

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.

If a single country decides to ban bitcoin, not only the citizens itself will suffer but even the government officials do. They will find it hard how to ban a currency which transactions are not totally visible. And bitcoin as a decentralized in nature, provides that no single entity or group is capable to ban it or shut it down.

Bitcoin cannot be banned legally but there might be restrictions along with it. And the more they see bitcoin as a hindrance to fiat, the more people will be even attached to it. Gold was banned some years ago but when it comes to bitcoin, it's better to comply than banning it.

Ironic, isn't it? Bitcoin comes out more popular than it was before after a government ban takes place. This shows us that people are interested in a truly censorship-resistant kind of money outside the scope of governments and central banks alike. Governments are already noticing their efforts in tackling Bitcoin's usage are futile, leaving them with no choice but to embrace it. Taxation would be the path for Bitcoin and other cryptocurrencies' widespread acceptance in the mainstream world.

Nonetheless, I don't think any government will be able to ban Bitcoin in its entirely like they did with Gold some time ago. The US may end up with fierce regulations towards the crypto/blockchain industry. But it'll never ban Bitcoin because it can be easily taxed throughout centralized exchanges. What governments will do is track and trace Bitcoin transactions in order to catch malicious actors on-chain. With surveillance/analytics tools like those provided by Chainalysis, it'll be easy to enforce the law on transparent blockchain networks like Bitcoin and Ethereum. The ever-growing popularity of Bitcoin will lead central banks into creating a CBDC of their own. Regardless of the FUD by some wealthy people (Warren Buffet) and mainstream media, Bitcoin will become bigger and stronger than ever thanks to its decentralized and censorship-resistant design. It's sound money that's many times better than Gold. Just my opinion

Why would anyone sell off the coins in panic if a country bans Bitcoin, there are several ways to hold the coin and cash out and there are many P2P exchanges as well which will sort these kind of issues. You only need to blame yourself if you sell off the coins in a panic.

Some of these countries might ban here and there and that will not affect the market as long as there no global ban and it is highly unlikely for a trillion dollar market even though everyone is expecting the market to be regulated.

If a certain country bans cryptocurrency, then in the end the citizens of that country are going to suffer. Take the case of India for example. When the news of an impending ban came out, large number of users in India sold their coins in panic. And within the next 2-3 months, the exchange rates went up by more than 100%. On the other hand, investors in more cryptocurrency friendly countries such as Russia and Japan don't face these issues. They are profiting from their investments and they can chose the time when they want to sell their crypto-assets.

Bitcoin is not like gold. Gold has a practical value endorsement, but Bitcoin does not. If Bitcoin is banned, then Bitcoin will eventually die out.But as long as a country recognizes Bitcoin, then Bitcoin is valuable, or only a few local tyrants recognize that Bitcoin is also valuable.

If the governments of all countries ban Bitcoin by legislation, this will show the great horror of Bitcoin, indicating that Bitcoin will greatly shake the regimes of those countries, and the result is that Bitcoin will be deeply rooted in the hearts of the people.

The effect that BTC has on the high volume of purchases and skyrocketing prices has made countries that ban BTC experience anxiety.  They continue to report the bad effects that can be caused by investing in BTC.  Even though the facts are not that bad if we can manage the investment we have.  They continue to limit activities in crypto with a fairly strict policy, then they make competitors for BTC such as CBDC.  Yes, they are the economists who drive inflation

Today, every ban seems to have become worthless when we look at the price of bitcoin, particularly information that some governments have mentioned and celebrity statements, most countries are choosing bitcoin as a place to further stimulate the economy. Regulation is something that countries are very stressed out with in crypto, they no longer care about banning when the interests of the people are so heavily placed here, some mistakes in decisions and bans could lead to the outrage of the majority and affect economic recovery.

A bit strange to read such thing as "US ban Bitcoin like they did with gold". Did the US really banned gold? I think they are on top place among countries who has gold reserve. US were always crazy about gold. How many year did they spend in Nevada's gold mines? Probably thanks to US gold mining  became so popular.

If the governments ban Bitcoin - how they are gonna control who still hold or trade Bitcoin? Specially with an era of VPNs. That is simply impossible to monitor in overall bans in a scale of a whole country. And as Bitcoin is a good source of income, why would government ban their another source to collect taxes from? I dont believe government will ever ban Bitcoin on purpose.

What? are you serious?  or are you stupid .
can you give those countries , those ALMOST ALL that now legalized Bitcoin , Do you understand what you are saying here?
or you just spamming with your nonsense posts?
Again what's your basis on this?
don't fool people here because it is not the countries adoption that makes the price increase instead this is from companies that entering bitcoin.
Talk to Yourself .

If we look recently, almost all governments have legalized bitcoin in their respective countries, moreover, the current price of bitcoi is getting higher and its popularity is also increasing in each country.
So I personally think the government will no longer prohibit its people from adopting bitcoin.

Im not certain on the stance of US government regarding bitcoin. But knowing that bitcoin is already recognized and big companies are started adopting it, I think its not going to be easy to implement banning of bitcoin. However if they do so, it can create a huge impact to crypto world because US is an influential country.

On the other side, here in our country I dont think they will ban bitcoin. They are giving warning even before that btc is an speculative asset but the decision to engage yourself is on investor's discretion. If they have plan to ban btc in the first place then it must happen before when btc is not popular yet. Now that btc has many users here snd they're also benefiting to the taxes given to traders using centralized exchanges I think it wont happen.

The news circulationg around the country that's planning to ban Bitcoin just provide the ideas

for their citizens, due to unknown system people got curios and start seeking for any information

regarding to this system, and once they've found the opportuities, they'll grab it and like what

you noticed, it's adding more interested investors and end users.

From what I have seen, the government bans usually have just the opposite effect on the popularity of Bitcoin. I have seen the same from Nigeria and India. When the government authorities proposed to ban cryptocurrency there, the popularity just rocketed and the number of users newly registering to various exchanges and P2P platforms went up by manytimes. Actually I should congratulate these government guys for popularizing Bitcoin.

What else can I say, Bitcoin has not been seen much in my country till date, even those who are involved in Bitcoin are suppressed by the government through various legal measures.  So in my country there is not so much headache about the legality of bitcoin.  My country believes in paper money, they don't believe in cryptocurrency at all.

A country can ban bitcoin usage in their territory, but the fact that there are at least 164 more countries who will be willing to accept a revolutionary piece of tech as bitcoin is still good to me. Countries can definitely impose regulations or even bans on anything they deem unhelpful or parasitic towards their people, just like what they do with drugs. If they see bitcoin as a drug that wastes away their people's brains, then they may definitely impose stricter regulations or even banning for it. But looking at its current benefits to the people, I highly doubt this ever happening.

Banning for Bitcoin is too much and not they should do it just because they think it is too late for them as they are old already. Because if they are concerned about the future and what they can offer to the next generation, they should support it rather than banning. But I was believing it won't go like this, banning isn't the looks to what we saw. It might be a conflict of interest but for sure they will understand this and accept that Bitcoin can't able to controlled and let it stay decentralized.

governments are not going to meet just to ban bitcoin mainly at the current stage. but some countries can put tough rules and even ban bitcoin ( mainly African countries are able to ban bitcoin without any problem). but in general this will not harm bitcoin. The current bitcoin stage does not allow all governments in the world to be banning bitcoin at the same time, because this market has already grown a lot, it is already consolidating itself like other markets and this brings more legitimacy to bitcoin.

Now what will really be a problem will be KYC, no doubt that it will be something that all governments are implementing and will be strict in inspections, bitcoin laws may also be tough in the future


they don’t need to ban because they can implement more rigorous KYC, so this idea of banning is something that doesn’t make much sense in the current scenario


definitely could survive but at a very low price and without a lot of volume, probably over the years would die