Will the government ban bitcoin? - page 25.

notyours

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Quote from: anzhanbei1214068 on March 10, 2018, 03:50:17 AM

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 it. But it does not seem to be the case because bitcoins show good and people use it. In fact it will have helped people. It is simply considered illegal because it exploits the people. Many people are deceived and constantly deceived because they do not know how to investigate what bitcoins really are

walemil

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I have not seen where any government proposed to ban cryptocurrencies. Government's attempt to regulate cryptocurrencies should not be misunderstood for a ban. While I don't like this idea of even regulating cryptocurrencies, i still will never take it to mean prohibition. Regulations will also come with its own advantages.

damrianto

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there are so many governments that prohibit the circulation of crypto currency, one of Indonesia.
which according to the Governor of Bank Indonesia said the ban should be done to prevent Bitcoin used in cases of money laundering, terrorism financing, while maintaining the sovereignty of the rupiah currency. . But this is impossible for the government to ban it,
this can be detrimental to the Indonesian bank because the transaction runs abroad using other currencies ..

FlightyPouch

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Quote from: perova93 on March 19, 2018, 06:09:26 AM

The government will not prohibit bitcoin because it is a transparent system and bitcoin is a free currency that is not responsible for the people

The government can still ban bitcoin as long as we are talking about using it in their country but they can't really stop people on using it and find a way that they can use it in the internet but not really in their country. As far as I know there are still Chinese who uses bitcoin even that is banned in their country. People can still trade digital currencies online.

CodyAlfaridzi

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Quote from: anzhanbei1214068 on March 10, 2018, 03:50:17 AM

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 we shouldn't fear governments banning Bitcoin anymore. It was the thing of the past. Governments and regulators are looking for ways to regulate it. They are looking for ways to use crypto in a positive way instead of outright banning it which will eliminates all of its potential. In the recent G20 summit, the chairman of the Financial Stability Board of G20 said:

Quote

The FBS’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time

source: https://crypto-lines.com/2018/03/19/cryptocurrencies-dont-risk-global-stability/

Which is a very good thing to hear for us the crypto enthusiast. I believe crypto will be the future of global economy now more than ever.

GoodBrother

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In my humble opinion at first governments will try to control bitcoin. On the other hand, bitcoin and other cryptocurrencies will gain more and more influence in the world and the governments of TOP 7 will have to find a way to integrate bitcoin into the world economy. Moreover, governments, political parties are only people and they change, and their beliefs are evolving too. Also bitcoin must be integrated into the world public payment system, or it can become the main currency of the criminal world

perova93

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The government will not prohibit bitcoin because it is a transparent system and bitcoin is a free currency that is not responsible for the people

shezu007

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A few governments are endeavoring to put diverse kinds of impediments on bitcoins. In the meantime we have different governments tolerating it and making it lawful for its subjects. The choices made by little economies won't have much impact on this yet in the event that real economies begin putting complete restriction on bitcoins it will be the finish of bitcoin. Any sensible government ought not do this but rather we never know what's to come. Somebody legitimate and insatiable government figure may endeavor to dispatch contending coin and afterward boycott every current coin.

JerryJam

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I think that the government will not be able to fully ban bitcoin. If this happens in some state, people will withdraw bitcoin through banks of other States.It is possible that they can limit the Internet sites that advertise cryptocurrency.All attempts by the government to control the cryptocurrency did not bring positive results.They can not take your bitcoins because the secret key is only with its owner.

AegeusCoin

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I don't think the government will ban cryptocurrency because that's essentially what you are saying. All other cryptos are pretty much in the trail of Bitcoin itself. The government won't be able to completely ban on it however I can see them implementing regulations that will not shut it down but attempt to make it more transparent, that's why so many ICO's are now under scrutiny. It's not just the scammy coins out there that are causing this alarm and need for closer monitoring, it's a way that the government can piggy back on a legitimate excuse to attempt to control how cryptos are mined/minted and distributed.

Depending on the industry you are in, monitoring maybe ok however there will always be cryptos out there that will operate in true privacy. These are the coins I'm aiming for that have a solid future vision. This is a great question and credit to the poster who asked this.

snowbubble

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Government can ban bitcoin in some countries , but worldwide its impossible, plus bitcoin even if banned you can use him with vpn and easily sent and receive it.

WatchMaker

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PUFFY FINANCE

No government in the world can ban bitcoin completely because bitcoin uses the peer-to-peer technology just like BitTorrent client. Bitcoin is decentralized which makes it impossible to ban bitcoin. If you take for example China they ban bitcoin in the country but Chinese people are still using bitcoin by simply using the VPN Client.

kirito1614

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Restricting bitcoin will be conceivable to be happen on the grounds that legislature dependably surmise that this exchange is a trick and can make disorder to everybody. It will be boycott by the administration if at any point they dont recognize what truly bitcoin is and how it truly helps numerous individuals for their living. Government will boycott bitcoin in light of the fact that they generally ponder bitcoin and that was makes them off-base.

Audistar

newbie

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Banning bitcoin depends largely on the governments' perspective, in some cases governments also change opinion of bitcoin and have now welcomed it.
In other countries, legality of bitcoin is still under dispute, and in some acceptance is already established, while others have been regulated and taxation imposed.
On another note, here is a link where you can check a few countries that accepts and says no to bitcoin:
https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp

Switchern

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But I think the government can be legal in every country of origin there is a tax for the government. Because bitcoin again ngtren in countries then its government there should be a tax that must exist. it is the present government

XFlowZion

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Depends on what country you are in. But for progressive countries, their government won't do it. Japan, Korea and Singapore are the leading successful countries and they know that bitcoin will make improvements to their economy.

Derizo

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Some states do prohibit bitcoin, but many countries use it and create different cryptocurrency laws and get taxes from it.

AimHigh

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Quote from: Wish 107.5 on March 10, 2018, 06:59:19 PM

Quote from: devioso8 on March 10, 2018, 06:55:27 PM

I think governments will embrace and accept it for the most part. I'm sure they have realized banning things are counter-productive in the past.

I believe that government will not going to ban Bitcoin, I think they will accept it after a long period of time. Government officials have no control to it but it will never be enough reason to ban Bitcoin.

Some of the country didn't accept bitcoin they ban in there country like china, india, russia, sweeden and many morenand they have many reason why didn't embrace and accept digital currency even my country before because scammers that is why they banned bitcoin so not all country and government not agreed in digital money or cryptocurrency.

Hitesh Ohri

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I don't think bitcoin be banned. this is not illegal because it is not harmful for the society in any way rather there are certain more issues in this country that should be considered first by the govt.

zentdex

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There are a handful of countries that band and prohibit bitcoin or any crypto, but there are more countries that support and even created their own country special coin. Additionally, there are countries that did not ban nor support crypto but they don't tolerate crimes in relation to crypto. Due to the previous subpoena issues, there are existing crypto companies that have no choice but to follow the mandate of their government. But I do hope that the government is positive about it that they will help crypto to grow rather than to ban it.

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