Bitcoin is the most valuable digital asset today. Because the price continues to rise and is able to reach the highest price in history, of course some world governments are worried about the development of bitcoin. some countries began to ban the use of bitcoin in their countries but some also legalized the use of bitcoin because of the technology that is needed for more modern payments.
The regulations regarding the use of bitcoin are regulated by the government in such a way. in my country Indonesia bitcoin is regulated only as a commodity trading and is not allowed to be used as a legitimate transaction tool like traditional money.
Bitcoin is a future payment technology that must continue to be developed.
Topic: Will governments ban Bitcoin like they did with Gold? - page 6. (Read 1177 times)
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.
Where are country really banned gold? I think almost country gold is legal investment and not banned or illegal property, but for bitcoin still an illegal and many countries not support for bitcoin become legal currency transaction or investment assets, but you was wrong with gold have been illegal or banned in any country. Just few country support bitcoin but only legal as investment assets and still not any space for bitcoin to be legal currency transaction payment.
I think it will be too late to ban now, because we already know for sure the positive impact generated by bitcoin for both per capita (individual) income and for unions such as large companies and investors and that indirectly increases government revenue in finances. just a small example in taxes, because the greater the income of investors / companies, the greater the tax borne.
even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.
Bitcoin's relentless efforts have linked so many large investors and corporations gathered here and with such a large community size, worldwide coverage, a little blockage is enough to bear a lot of opposition from this community, part of the government's taxes will not stop being affected. But governments never have a common voice, mostly just figuring out what would be in their nation's best interests, only a few countries are linked together, but in general, they just leave bitcoin to develop without blocking, a few such small efforts in exchange for the negativity of the result are not wise choices even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.
If they decide to ban the cryptocurrency it'll just come back stronger as the alternatives would be worse. A strong community would come back in its place to support this currency in all circumstances. That's why the probability of legalization is much more likely than ban. Its far better to adopt the future than fearing it.
I believe that know body can ban cryptocurrencies, from what I observed, cryptocurrency is not gold their is much different between gold and crypto, because people investing with bitcoin are much than people who invest with gold, normally gold was threading before but since existence of cryptocurrency gold now withdraw excessively in the world market, and currently people value cryptocurrency much than any investment.But the main objective is still profit. Bitcoin undoubtedly brings immense income
If they decide to ban the cryptocurrency it'll just come back stronger as the alternatives would be worse. A strong community would come back in its place to support this currency in all circumstances. That's why the probability of legalization is much more likely than ban. Its far better to adopt the future than fearing it.
I believe that know body can ban cryptocurrencies, from what I observed, cryptocurrency is not gold their is much different between gold and crypto, because people investing with bitcoin are much than people who invest with gold, normally gold was threading before but since existence of cryptocurrency gold now withdraw excessively in the world market, and currently people value cryptocurrency much than any investment. 
I think it will be too late to ban now, because we already know for sure the positive impact generated by bitcoin for both per capita (individual) income and for unions such as large companies and investors and that indirectly increases government revenue in finances. just a small example in taxes, because the greater the income of investors / companies, the greater the tax borne.
even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.
even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.
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.
I think i can't be happen anymore because bitcoin itself can't replace fiat. There are several reason like for example, need much fee when we send bitcoin to another person. Not like fiat that maybe we can give or transfer directly with low or maybe no fee at all. So with only that 1 reason, bitcoin already can't be used as payment so i think don't need to worry if bitcoin can get banned because government afraid it can replace fiat. 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.
From the knowledge I grabbed from the community here I don't think government have the right to ban bitcoin, they can criticism bitcoin but I don't the power to ban it is there, from other countries government who tried to ban I think they find it difficult to do so.
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.
I don't know about the gold ban because gold is being used everywhere and never heard of anything related to the gold ban. However, governments are trying to ban crypto but they could not. They don't have any control due to which they can ban the crypto. Even if they announce the ban, the people will continue using it.
They can't do it all over because they only can try to control people's investment and make it complicated. As they banned gold far ago but they can't stop using gold and its market. Gold is one of the most demanding material in the world as that they can't stop BTC. For some time they will slow the progress nothing else that.
Just take experience from what has been happening in some countries that has placed ban on bitcoin so far in the past. None has succeeded as their has been fights coming from all angle in support of human rights and certain specific right which are been denied due to the government recent ban on cryptocurency investment.
My thoughts exactly. While there are countries like Iraq and China that has banned Bitcoin, India has been placing restrictions on certain bitcoin companies and service providers. What the government has in its agenda is to regulate any business that involves Bitcoin. The latest note from the finance ministry of India states that Bitcoin and its ilk are illegal in India and the government is looking at legal avenues to impose the ban on the use of the cryptocurrency.
There is a doubt that the government was a right in their decision to put a ban in some countries, but there are certain loopholes in all banning measures to ensure the rightful citizen has access to financial services. In most cases, investors in countries have gone to places which were not affected by the ban to have the green light to invest, therefore giving rise to third party involvement and corruption.
I think it is already too late to ban Bitcoin from now on. Mass adoption has reached a great level. And the number of BTC investors has increased in an incredible amount so far. Even they try to ban it, they will come across a bad reaction from people. People will still search for ways to continue using BTC.
If they want to ban Bitcoin they should have done it earlier, now that adoption is skyrocketing people will fight for it. We’ve seen so many Bitcoin bans and harsh regulations from different countries, some tried to totally ban it and some are still shaky with their decisions. Its impossible to ban Bitcoin, they can’t control it unless they shutdown internet servers.
Very well said. They should do it earlier but now I don't think they can pull it off since adoption is now increasing and imminent. Yes, some countries could ban it but stop people from using it. Bitcoin is decentralized and that what it makes difficult to control or even ban it unless they cut off all internet connections which is impossible. Besides, some countries already have accepted Bitcoin and benefited from it so I don't think they will ban it. Furthermore, large institutions are already venturing on it that would also another reason why the government will have trouble putting it on prohibition.
In my opinion, Bitcoin has been adopted by a lot of big companies in the bitcoin market. Famous people and Billionaires already created a big hype with Bitcoin and that is really something that needs to taken as a good sign. With that said, I think governments would not doubt Bitcoin, and Cryptocurrency in general. I think what will happen is that governments might join the Bitcoin train and will buy some share so that they can invest on it and make money out of it as well.
Cryptocurrencies and gold are prohibited for payment in my country. Even so, we can make some arrangements for the circulation of Bitcoin or gold with assets.
The issue of using crypto or Bitcoin is worse because governments try to come up with arguments like money laundering, Bitcoin mining destroys the environment and so on ...
Even though they ban it, I still believe that Bitcoin will still be circulating because it exists on the blockchain, on the internet and no organization can interfere with it.
The issue of using crypto or Bitcoin is worse because governments try to come up with arguments like money laundering, Bitcoin mining destroys the environment and so on ...
Even though they ban it, I still believe that Bitcoin will still be circulating because it exists on the blockchain, on the internet and no organization can interfere with it.
They can ban but they can't stop Bitcoin but its not likely to happen in the future. All they will do is to increase the tax rates to insane amount so people will have no choice other than moving to other investment assets or black market.
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Just take experience from what has been happening in some countries that has placed ban on bitcoin so far in the past. None has succeeded as their has been fights coming from all angle in support of human rights and certain specific right which are been denied due to the government recent ban on cryptocurency investment.
Also judging form the government negative reaction toward the currency, if banning was that possible it should have been done a long time ago when the adoption was still struggling and not now we have big institutional investors coming into the industry simultaneously.
While banning of God was very achievable was because of the physical nature and centralization but bitcoin isn't physical nor is it centralized for a central point to be attacked.
Also judging form the government negative reaction toward the currency, if banning was that possible it should have been done a long time ago when the adoption was still struggling and not now we have big institutional investors coming into the industry simultaneously.
While banning of God was very achievable was because of the physical nature and centralization but bitcoin isn't physical nor is it centralized for a central point to be attacked.
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.
The most and least thing they could do only would be ISPs to ban every single trading exchange, because that is how BTC is mostly traded or transferred. Still people have the means to use various softwares like VPN.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.
Tor is also there for anonymous browsing.
Proxy is also there for reason.
Government banning those sites to not be able to be downloaded? Sure, people will still have the means to distribute those software without a trace.
Bitcoin will still survive.
The power of technology still speaks for infinite possibilities.
In my country. The government does not prohibit Bitcoin. But there is no legal provisions on Crypto. The government only recommends that citizens be careful when investing in Crypto because it is not controlled by the Government.
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