Another frequently repeated argument against banning Bitcoin is that, in an era of globalized Internet Economics, individual governments do not have the authority and power to act against a decentralized currency such as Bitcoin. However, we only need to see how China has limited the Internet and realize that it is not. Thanks to the combination of state legislation and the blocking of popular foreign sites providers of Internet services, the Chinese government tried to restrict Chinese "garden wall".
Traffic monitoring tools are used by the government to suppress political dissent. Banning Bitcoin will not be too much of an obstacle for the Chinese government.
Topic: Will the government ban bitcoin? - page 22. (Read 2143 times)
I think this is extremely unlikely in the long term. There are far too many incredible and innovative use-cases for crypto / blockchain technology, the advatages it holds for many industries can not be ignored outside the community for much longer.
The governments can't take control of bitcoin so they don't like bitcoin.and lot of people buy bitcoin with their fiat currencies to avoid tax from the government.so they bring regulations to bitcoin.Bitcoin is the future currency so the government can't stop people from using it.So banning bitcoin is not a practical thing because of its anonymous nature.and also bitcoin is already a trading asset and lot of people use bitcoin.so i don't think they ban bitcoin
They can't ban Bitcoin. But they can ban official exchanges. Truth of life.
Bitcoin and crypto are difficult to control because blockchain technology is absolutely safe and no holes are found. The ban may be but it is not appropriate and effective. We have seen many countries have issued bans / restrictions such as China, Korea.
There is no big problem for banning bitcoin for many countries so crypto currencies are like in the good stage and also bitcoin in the good value too so bitcoin will not ban by anyone.
The government would not ban bitcoin because it's a technology that will revolutionize the world. As most if not more than the internet.
Also, it's decentralized and they have no way to enforce it. Plus, any government that embraces it will have an edge on countries that ban it.
Case and point Venezuela. They banned yet so many people have it.
Also, it's decentralized and they have no way to enforce it. Plus, any government that embraces it will have an edge on countries that ban it.
Case and point Venezuela. They banned yet so many people have it.
If they are informed, they won't try to ban bitcoin, because they know they can't ban bitcoin. If they ban it and it doesn't work, which it won't, then the confidence to safeguard your capital in the ultimate off-shore tax-haven country "blockchain" increases exponentially.
From the states perspective, tactically it's much more preferably, if the general public believes as long as possible, that they could ban it at any moment.
Even more corrupt banana-republics that already banned bitcoin will jinx it for more sophisticated states, tough. Once it's obvious that no matter what someone with an important sounding title writes on a piece of paper, your brain wallet is your brain wallet, Hyperbitcoinization is one step closer, if it hasn't occurred by then anyway.
From the states perspective, tactically it's much more preferably, if the general public believes as long as possible, that they could ban it at any moment.
Even more corrupt banana-republics that already banned bitcoin will jinx it for more sophisticated states, tough. Once it's obvious that no matter what someone with an important sounding title writes on a piece of paper, your brain wallet is your brain wallet, Hyperbitcoinization is one step closer, if it hasn't occurred by then anyway.
Corrupt governments would and have. It is undemocratic in every sense of the word.
Corrupt democratic governments would probably attempt other means than to directly legislate against it. But thats all conspiracy theory stuff ...
Corrupt democratic governments would probably attempt other means than to directly legislate against it. But thats all conspiracy theory stuff ...
It could be because it depends on the government will banned bitcoin or not. Because the government thinks bitcoin could have disrupted the country's economy. And the government did not want to take that risk, it's the main factor why the government ban bitcoin.
Bitcoin and crypto are difficult to control because blockchain technology is absolutely safe and no holes are found. The ban may be but it is not appropriate and effective. We have seen many countries have issued bans / restrictions such as China, Korea.
This is a problem that many people are concerned about. Since the bitcoin was published, the government has resisted bitcoin. At present, only a few countries accept bitcoin. I think countries can ban bitcoin and have some regulations about bitcoin, but it is impossible to completely delete the existence of bitcoins in their country.
Very hard to control and tax any business operation using BTC to payment
I think Government have to ban to protect their operation
I think Government have to ban to protect their operation
Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?
I think it depends on the regulation of various countries if the country you occupy issuing regulation about bitcoin legality then bitcoin will not be prohibited circulation in your country, if country have told not to give permission of circulation bitcoin then your country can not accept circulation of bitcoin again .
See I don't think that you have raised a valid point. Governments will ban something if they see any point of harm in that particular thing. Crypto currency does no bad to anyone , the main thing that worried the government is that the crypto world is decentralized and that will create further more troubles for the government. But the decision of banning the crypto currency won't be an easy one for the governments.
Let us take an example here, In India you must be knowing of the recent scenario that RBI banned the transactions involving bitcoin and other crypto currency. But a crypto exchange called coin recoil filed a petition against RBIs statement claiming it to be wrong on various legal grounds.
That's the current scenario of the said judgement: https://www.moneycontrol.com/news/india/court-seeks-rbi-govt-response-after-crypto-exchange-challenges-central-bank-circular-2554533.html
Let us take an example here, In India you must be knowing of the recent scenario that RBI banned the transactions involving bitcoin and other crypto currency. But a crypto exchange called coin recoil filed a petition against RBIs statement claiming it to be wrong on various legal grounds.
That's the current scenario of the said judgement: https://www.moneycontrol.com/news/india/court-seeks-rbi-govt-response-after-crypto-exchange-challenges-central-bank-circular-2554533.html
I don't think Bitcoin will ever be banned by the government or maybe not now because for as along as it is not stated in a certain country that Bitcoin is illegal then of course they can't ban it just because they wanted it to. There has to be some reason on why they should ban it and right now, I don't think the government has any grounds to ban Bitcoin or the rest of the cryptocurrencies.
you are right. when the government knows the true function of bitcoin, they will not be banned bitcoin, but they will support bitcoin as a favorable tool for the country. many major countries are trying to develop it.
I don't think Bitcoin will ever be banned by the government or maybe not now because for as along as it is not stated in a certain country that Bitcoin is illegal then of course they can't ban it just because they wanted it to. There has to be some reason on why they should ban it and right now, I don't think the government has any grounds to ban Bitcoin or the rest of the cryptocurrencies.
Bitcoin does not ban foreigners just like china wants to ban bitcoin because it may be affecting their project in their country but overseas is legit bitcoin and is waiting for it to approve the government in their country
Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?
It wont be able to be ban . More companies are giving a good reviews about bitcoin how can be easy to used . More people will be jobless if it happens and they are not experiencing the wealth if it will happened.Those people who give bad impressions about this they are wrong.
Maybe yes and maybe not. bitcoin is now known all over the world. Yes because the government has the power to everything. They can shut it down if they wanted to. But there are billions of people who are using bitcoin. No because bitcoin is expanding immensely and in the upcoming days. Bitcoin will rise to the top.
Not banning but probably government will legalize the use of bitcoin because it simplifies the work of mankind in so many aspects. Bitcoin has the potential to become a universal currency because nowadays bitcoins becomes globally accepted and continuosly growing.
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