*government is mostly an institution filled with old men...
if they did it at a time when the internet had not developed this fast then they would certainly be able to get banned from Bitcoin but now the internet has grown tremendously and millions of people no longer obey their words. banned Bitcoin is a fantasy.
Topic: Will governments ban Bitcoin like they did with Gold? - page 4. (Read 1177 times)
Too late to ban it now, now that big money is involved and they are benefitting from taxes. Perhaps on some countries with little to no development on the cryptocurrency side of things, this is possible. But for those countries which already have established communities for bitcoin and crypto? It will be difficult. Besides, how would the ban play out if people can still use it underground? It's a futile endeavour, and probably just a waste of resources, too, for the government's side.
It may be too late for governments to ban Bitcoin from the face of the Earth. They ever-growing number of nodes and miners, makes the network more decentralized and resistant against third-party interference. The only way governments will be able to successfully "ban" Bitcoin is if they begin to crack down on centralized exchanges themselves. But then, people will be able to acquire Bitcoin via other means (decentralized exchanges, off-chain transactions, etc). I doubt major countries will want to ban Bitcoin as they would lose a huge opportunity to profit via taxes. As long as tax collection on crypto is possible, Bitcoin will be here to stay.
Nonetheless, no one knows what the future of Bitcoin will be. Who knows what will happen once CBDCs are introduced by mainstream governments? Will they declare Bitcoin and other cryptocurrencies as "illegal" in order to force people to use the new digital Fiat system? Or will CBDCs live alongside Bitcoin for years to come? The more Bitcoin grows in popularity, the more banks will become furious. Since governments don't want to lose control/sovereignty over people's money, they might do everything in their power to stop people from using Bitcoin. Even if governments are able to gain taxes from Bitcoin right now, there's nothing stopping them from changing their stance in the future. Whatever happens, Bitcoin will survive (although with a smaller user base) thanks to its decentralized and censorship-resistant nature. Just my thoughts
Are you a US citizen? And if yes why centralize the ban, why not make it known where the ban you think that it can happen, US isn't the whole world you know, but even at that I don't think with the adoption greater than it was in past, that the ban on bitcoin would materialize,
While US isn't the whole world, let's not forget they're a world power and what ever they do has a major impact on that section of the global economy. If the US government was to successfully ban bitcoin (which is quite impossible) the rest of the whole would follow suit especially those nation that has a strong relationship with the US government or rely on them for aid).
Aside from that, the US and other country can not totally ban Bitcoin they can only place some restrictions (just what happen in China, Nigeria, India etc) cause they don't have control over Bitcoin.
some governments have banned their citizens from using digital currency (Bitcoin), perhaps because it is feared that people will feel comfortable using Bitcoin compared to the existing local currency or maybe there are other compelling reasons. However, in my country now digital currency is widely known and the government supports this technology, but it cannot be used directly for transaction tools, it is possible for the government to support this digital currency because it can increase tax revenue that must be issued to its users.
They're already doing it. But at the same time, they themselves are interested in making a profit with bitcoin
Even though they ban it they cannot still prevent people from exploring cryptocurrency, just like in our country wherein cryptocurrency is not yet legalized but still, a lot of people are using cryptocurrency, they keep on selling and buying bitcoin or altcoins in different exchanges, bitcoin is a successful cryptocurrency, I confuse on the government why they keep on banning bitcoin, well, in fact, it can give us a lot of benefits and can rise to give good stand for the economy.
The government already tried many times to stop and ban bitcoin but they always failed on doing it because bitcoin cannot be stopped they will just waiting their time for doing it. The price of bitcoin as of this day is high which makes it more interesting for many people and many counties, some countries already exploring the world of cryptocurrency especially bitcoin, and mass adoption is already happening little by little no one can stop bitcoin unless the internet connection will shutdown worldwide and will never back again.
You can't generalize governments all around the world. There are some regimes which tried to ban Bitcoin. Perfect examples are Thailand, India, Bangladesh and Bolivia. But at the same time, there are others which were receptive towards cryptocurrency from the very beginning. I am talking about countries such as Japan, Germany and Switzerland, which legalized Bitcoin and regulated it's trade from the very beginning. And then there are the vast majority of the countries, where the legal status of cryptocurrency is unclear.
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.
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.
In theory everything in our world may happen. And in history and nowadays we can find proofs to that. Sometimes very unexpected things happen. Of course the influence is strong enough on lots of processes governments of different countries and united organisations have, despite we all would not like it to be so. But in my opinion in case they had such a strong desire to ban crypto worldwide, they would have done it already. In most cases the question with crypto even is profitable sometimes for someone's PR, sometimes for other things.
The government already tried many times to stop and ban bitcoin but they always failed on doing it because bitcoin cannot be stopped they will just waiting their time for doing it. The price of bitcoin as of this day is high which makes it more interesting for many people and many counties, some countries already exploring the world of cryptocurrency especially bitcoin, and mass adoption is already happening little by little no one can stop bitcoin unless the internet connection will shutdown worldwide and will never back again.
To be honest I can't remember when the US banned Gold or I didn't notice it. But do you think is it possible to ban Bitcoin like Gold? I don't think so. Because Gold is a physical asset that is preventable to enter a country or use it. But Bitcoin is quite different, it's a virtual currency and not preventable any way. A government would just announce that Bitcoin is a ban, but really they couldn't prevent citizens from using Bitcoin. There are no physical coins and the government wouldn't detect who is using Bitcoin if you don't use any centralized wallet or exchange. So I think it's too late to ban Bitcoin. Banning Bitcoin would affect Bitcoin price for some time. But couldn't prevent it while using.
The ownership of gold was banned by Roosevelt in 1934
Quote
Roosevelt justified Gold Reserve Act 1934 by saying that "Since there was not enough gold to pay all holders of gold obligations, ... the Government should in the interest of justice allow none to be paid in gold."[5]
https://en.wikipedia.org/wiki/Gold_Reserve_Act#:~:text=The%20passage%20of%20the%20Gold,restricted%20gold%20ownership%20and%20trade.
It is possible that the US government will continue to ban bitcoin because it cannot be controlled by them directly so they don't want to formalize it as a payment
US government still going on not legal using bitcoin as currency transaction payment because they still not believe with cryptocurrency, but other side they don't get competitor for USDT can replace by bitcoin or altcoin. Many time US government make bad news with cryptocurrency but still not give any bad for bitcoin, so far keep bitcoin and altcoin on the top price but waiting with many responds how bitcoin become legal currency transaction around the world. 
It is possible that the US government will continue to ban bitcoin because it cannot be controlled by them directly so they don't want to formalize it as a payment
The government has nothing to do with bitcoin and her usage, as said above, it's over 10 years now and we are still arguing about government ban on cryptocurrency, if they do, it doesn't affect the users and can't affect in anyway since everything is decentralized.
I don't understand what the op means by gold being banned. People buy things which are made from gold all the time, and they keep jewelry as a form of an investment sometimes. I haven't heard of gold being illegal,
Yes, I was also wondering if Gold has been ban in the US before, I haven't heard such news because it's the backbone of a country's economy.,so why put a ban sentence on it, imagine government putting ban on crude oil, that's ridiculous. 
Similarly to a few other people in this thread, I don't understand what the op means by gold being banned. People buy things which are made from gold all the time, and they keep jewelry as a form of an investment sometimes. I haven't heard of gold being illegal, but to be sure I've just checked that it's indeed perfectly legal to buy and possess jewelry as well as gold bars in my country. As for some context from other countries, I see that there was a ban for US citizens on owning or trading gold from 1933 till 1975 due to Executive Order 6102, but I guess it's currently legal in the US as well. And to answer the question regarding Bitcoin, I think that most democratic governments won't ban Bitcoin because it could cause public unrest, but I think that over time more and more countries will regulate cryptos, setting some requirements and restrictions.
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.
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.
It is possible that they will ban Bitcoin if they want to control the price - that's what I think the reason why. Today Gold are now legally accepted and can be freely traded. If one day the government banned Bitcoin, I believe that they will eventually make Bitcoin legal so as to what happened with Gold.
If governments want to ban bitcoin, why not ban at the beginning when it was first created? Bitcoin now is more than 10 years of existence and I think it was rooted already, where government can't easily remove it. Well, let's wait and see what government can do if ever.
If they want to ban, then the ban has to come from some global agency such as the United Nations. Since Bitcoin is a digital currency and it doesn't exist in the physical form, regionalized ban will never work. The users will simply move their assets from the country where it is banned, to another country where it is perfectly legal. The only impact is going to be a decrease in tax revenue for the country which banned it. If this was not the case, then Bitcoin would have been banned by most of the governments ages ago.
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.
It's too late for government to take that step of banning Bitcoin because now it has become a major financial assest globally which is opted by major institutions and investors preference have shifted towards it.They will never go against the general market as it could affect their political status and moreover the government's are also benefitting from btc as US govt. holds more than 80000 Bitcoin at this time seized from Silk road crime.And if you look at statement of former SEC chairmain Hester Pierce or so called "crypto mom" has said US will not take foolish step of banning Bitcoin and it is like shutting down the internet completely and it's not possible to do such things as it can have great impact on economy of the country and same goes for all the centeral authorities around the globe.So we need not to worry about it as we have came across lot of tough times but now Bitcoin is name that needs no introduction and will be accepted by all soon. 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.
In the past, there were instances where the governments tried to ban gold. Did that worked? Definitely no. The same will happen this time, and the results will be even more stark because of the digital nature of the cryptocurrency. In many of the developed countries, the authorities have realized that it is not possible to ban cryptocurrency. So they have started regulating it. However, there is no shortage of idiots in developing nations and here in India the government still want to make possession of cryptocurrency a criminal offense.
The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.
if the government "shuts down the internet" how will they track our movements "lol"Bitcoin is something that can no longer be managed and even eliminated. Bitcoin has officially become a decentralized asset since Satoshi officially made it public. only God can "shut down" Bitcoin.
God isn't involved here, only the people who are a part of its development. Maybe the shutdown will happen if Bitcoin has not used at all. But as we can see, it became valuable and this will even more valuable in the future where more people are using this one.
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