Bitcoin Forum

Link: https://news.bitcoin.com/europe-power-ban-blockchain/

The European Securities and Markets Authority (ESMA) is responsible for promoting investor protection, orderly markets and financial stability. At a blockchain conference last week in London, Patrick Armstrong, Senior Risk Analysis Officer, detailed ESMA’s approach to blockchain technology. One strategy he noted was to ban blockchain products or processes altogether.

Sad news, better to prepare yourself because they will try to do something against Bitcoin. If they don't ban it, they will want fees over it. This EU should end, they disrespect the individual rights and the countrie's soberany. Everything they want is to rule, live on confort, everything with europeans money. Demagogues and hypocrites,

Another issue of the central governance of the EU. Won't let individual countries choose their stances and so they go for a blanket ban because it ends up freeing the citizens of Europe from the slavery set up by the Euro and the excessive labor markets.

Leave it to Brussels to find a stupid way to start blocking stuff. Can't make themselves useful until they attack the average working man.

It is bad news for europeans and the planning to banning bitcoin on Europe on january 2018, still there is has long time for ESMA learn about bitcoin and not bunning usage of bitcoins, because bitcoins can not be banned just on Europe only.  ;D

How can you ban blockchain technology? I mean how is that possible? Would't that be like trying to ban mathematics?

Another exit will happen.
Strict just for dig up the potential on any innovation. It is unfair in my mind.

It's actually kind of interesting considering the nature of the "-exits" within the EU right now; considering that Italy is next on the chopping block (however unlikely because of the benefits given from the EU to Italy) it could mean that the state of the EU is incredibly shaky and, honestly, if Italy leaves, it will start to spell the end of the Union. More countries will aim to opt out, and especially in Le Pen gets in in France, then it is over.

The EU will try and restrict what it can with the power it has now, but they know they're losing bigly. First Brexit, then Trump, and now Le Pen leading.

Interesting times.

Italy vote on their EUxit this weekend, right?

I have heard that Germany has blocked bitcoin but I am not sure why would a country do this as bitcoin is exploding the market. Soon the market will get hacked by bitcoin as it is wild and have less of a feedback system unlike those of commodity exchanges in which supply and demand controls market.

Even if they do decide that a harmful tipping point has been reached, they won't be able to ban blockchain till 2018. For the meantime, all they could actually do is "issue warnings".

Besides, for now, they have decided to take the "wait and see approach".

So, I think that there isn't really a need to be concerned and anyway, everyone knows that banning something doesn't really work much these days.

I think it can happen because bitcoin is used to illegal activities or something else which make economic from this country threatened. I don't worry about that during the price of bitcoin still stable and not go down.

As it seems that quite a few haven't actually read the article (or did and are blinded by some sort of vendetta against the EU), I'll clue in anyone still reading in: they aren't planning to ban blockchain technology.

This being any financial innovation. They are simply listing the ways they approach any changes in the financial world.


This thread (and especially it's title) is simple fear mongering, even more so than the article. The chances of anything happening to Bitcoin in relations to EU bans and/or regulations is minuscule, especially considering the current political, societal and to some extent economic situation of the European Union.

Well, why am I not surprised that the EU is looking to do something like this. It's like classifying a banana based on whatever the hell it was they were trying to push as a "proper" banana. A group of unelected officials justifying their positions by making the lives of everyone else just a bit harder.

I don't know how they would effectively enforce something like this, but inefficiency seems to be something the EU excels at.

If that happens,it will not only influence European bitcoiners but the entire bitcoin community all over the world.Since they only considering it as one option,we hope they never go for it

I think they don't fully understand bitcoin or that they feel that it can be a threat to their own currency. Part of the reason for bitcoin's rise a few months ago was the Brexit poll result, and maybe if another country decides they want out of EU, that could be another good thing for bitcoin.

Not so. Certain Bitcoin selling sites have fallen afoul of existing financial legislation there. Other than that Germany's a pretty nifty place to be a Bitcoiner. There's no capital gains if you hang on to it for over a year for instance. The government has also declared it private money. 

Probably but this is not the first time something like that happen, years before there were attempt to try to stop the average people of using cryptography, but this was ruled against because it was the same as banning math.

I am not a bit concerned about this "threat". They can try banning it but there is really nothing they can do. How are they going to stop the whole darkmarket from using it? Or how are they going to stop the ransomware using hackers? They do not know what to do except to FUD and make threats. The regulators in Europe cannot stop unlicensed porn, drugs online, pedophilia, unlicensed gambling online and a whole lot more where Bitcoin is very useful for payments. Let us face it, this is the world we are living in now.

Agree, even if they banned this blockchain technology, people will make way how to used it. Now, that we've experience how it works and function,  this move of EU will only spark interests and curiosity among people.

news.bitcoin.com is officially added to my news site shitlist with this new title they chose for their article because it has nothing to do with banning blockchain technology and i have seen other articles from them that were worthless click baits.

You spoke my hearts out, my friend. I hate their government from my heart's core. Rich, filthy hypocrites, always banning people's rights and trying to make money from almost anything. I never really visit their countries because of the high tax of foreigners and the way they look down upon Asian countries. They should be left to rot in their own tiny world, but oh! They are the main cause of world terrorism and nuclear race.

I agree with this because after going through the article in detail I must just conclude that its a means to get traffic to the site and nothing else because from the article the banning being blown out of proportion is not even an option on the and that is even the last option if they will go that route not even in 2018 that is coming. It is not a threat or a "tiiping" point to attract the attention that will necessitate that...

This is really bad news that waiting to happen, we hope not as He said :
However, Armstrong confirmed that ESMA is not considering this first approach. “We can rule out the first restrictive approach,” he said, citing that the authority does not see blockchains posing risk to its three objectives; stability, protection and integrity.
Bitcoin is good business for financial advance, what the reasons they should ban bitcoin as it doesn't risk those three objectives.

This is really not a good news for blockchain and I hope this does not happen. But recently only swizz and Paris started accepted Bitcoin so why would they do it now. It's not a good move and will effect so many people who have investment in it. Or is it cause their currency is getting lowered a step to revive it.

European Union is in a plan to ban Blockchain technology, but I'm sure that it won't be that easy to ban the technology within the countries falling under the union. Importantly due to the advancement more and more sectors, even banking sectors have started adoption of Blockchain technology. Banning is possible only if an alternate solution is generated with an technology similar to Blockchain.

They will simply ban its usage in the territory, as long as they have access on all internet connections they can easily block a thing like that not to be used by anyone in their control, that is how it can be done i guess, don't have much knowledge about all that though.

Not a fan really of one decision being made and then all countries having to abide by the ruling, the UK and the Brexit still might not go ahead as it now needs to be signed off and voted for by parliament, if it does not go through we will definitely see some interesting times.

They will ban nothing. They will do as usual: spread "news", do the "wait and see" game as long as possible and when they will see that there's no harm in blockchain (excepting that it may get some money off the banks and imho that's why the ban is asked for) they will go for "facilitative or catalyst approach".

Of course, the banks will try to make EU politicians ban blockchain, for various reasons.
And of course, we will have to say it loud that we support the blockchain.

I don't think this gonna effect bitcoin in any sense, they may regulate or even tighten the rules regarding bitcoin trading but there will be no point for EU to ban bitcoin totally or in other words they can't simply ban bitcoin.  :D

They may search to establish balance between bitcoin and its regulation.

I don`t believe in this, why would Europe do something like this, to protect euro? `One strategy he noted was to ban blockchain products or processes altogether.` and in the same time they claim how this ESMA has power to ban bitcoin, so they just wish to scare us.
If you ask me this just shows how they are scared from bitcoins, bunch of bank owners, corporations saw what bitcoin can become and now they wish to show to people who trust in fiat how they have power to shut down what ever they don`t like.
When I reading something or watch, I like to check out comments below, there I see what people think about news and even there is a lot of trolling sometimes, there is some very smart people and their comments are show true state of something, I wish to copy first comment that reflect my opinion also"

Black Dynamite! `The E.U. is pretty stupid and poorly managed, so I expect them to ban blockchain, or attempt to.
This is what a poorly-conceived globalist state would do to maintain their fleeting control.  BD`

I strongly doubt something like that is ever going to happen.
I really believe there are too many bitcoin friendly countries in the EU.
By the way, don't they have bigger problems to solve at the moment?

Most bitcoin friendly countries is in Europe if I'm correct and many will protest about it because it will affect online transaction of bitcoin user if they interfere many will lose profit/revenues because of this action so it might be stop if implemented if people using bitcoin will petition. Hoping its not final.

They have a lot to manage in Europe right now, so the best for them in the contrary is not to be scary for a new of this topic. For myself, this new have no real value and I don't think this would happen.

I don't know why, but I know bitcoin will succeed there.

       If this not the personal opinion of a government functionary but reflect thoughts of official members of European Union then it is sad to say that Europe will come back to Middle Ages. At that years had burned many people who had been accused of being sorcerers and witches. Now EU demonizes a revolutionary innovative technology. I feel that european citizens they will lose the train because of their political parties actions

Many, MANY countries in the European Union are using Bitcoin in a few, if not a lot of their businesses. What will the owners of Bitcoin ATMs do? What will mostnof us here, on the forum do? We cannot accept that and I do not think Bitcoin can be controlled that easy.

I've heard that some American court had once banned the law of gravity


That guy, I mean Armstrong, seems to be a great prankster. He might have been shorting Bitcoin heavily himself and thus interested in spreading this type of FUD. It would be extremely interesting to find out how many members of that ESMA agency have bitcoins themselves. The former chairman of the Central Bank of Russia, Herman Greff, confessed that he had some bitcoins...

I guess Bitcoin should be particular handy in bribing all these clowns

The european bureaucracy is dangerous for bitcoin and the blockchain.

I will continue to use btc and i don`t care if they will ban the blockchain or not.

Everything is indeed might just happen, for all countries or groups have different purposes and they also have views in something different. so if we can't do something a good thing then it will only make our trust and confidence against bitcoin and blokchain to be less good. Your thinking is indeed dangerous, but it all happened because I saw that you consider bitcoin and blockchain would be a very good future

Yes, Bitcoin.com is a pile of dung. Everybody visiting Bitcoin.com or posting "news" from it should be aware that it is a propaganda site of racketeer Roger Ver, where he pushes his various company and altcoin investments and spreads propaganda for UnlimitedCoin.

In this case, the "news" is pure click-bait, without any tangible implications for Bitcoin. The EU just set up another bureaucracy unit. That's all. There are no concrete plans of banning Bitcoin or its technology. And even if their were, Bitcoin doesn't care.


No, not directly. They vote on internal government structure and their PM attached his political fate to it (will resign if he looses). In turn, there will likely be a new election in Italy, which Euro-Skeptics form left and right will likely win.

ya.ya.yo!

You must be kidding. Why in the hell would Europe want to ban an innovative technology like this?
That is just hitler like of them coming onto communist motives to block out progression of their people.

Fear from the EU Banks are the mastermind behind this audacity. >:(

This is one of the reasons I'm against Serbia joining EU. EU lost it's use after it became, basically a 4th Reich. But I really doubt that this will be changing anything and it's one year from now, bitcoin won't be stopped like this. and also I don't think EU will last that long considering that it's slowly falling apart.

Europe is sinking deeper and deeper, day by day.

This isn't at all what the article is saying. Besides, by 2018 I believe these sorts of regulators will see the significant benefits blockchain ads to their objectives. The current attitude is typical of new technologies from regulators.

I dont think someone could shut down blockchain technology

So why are you against Serbia joining the EU exactly?

Just in case, Serbia (and Greece, to a degree) had been the only Balkan country fighting the 3d Reich during WWII for real. In fact, the EU has been the 4th Reich since its very inception, the successor to the Holy Roman Empire with Germany as its back-bone. Great Britain, on the other hand, had never been an integral part of this structure, that's why they got off so cheap

I dont know why banks would be behind this as they in the general are interested at blockchain technology, looks like they do pretend to tax bitcoin on the next years, but who will let them trace the coins we do have? I wont let they know my coins ammount never, im scared to some group joins to attack bitcoin holders to steal their coins.

Whoah, I hope this won't really happen. It is natural they want to do so, right? They are used to have control under everything and predict the economical development. How can they do it when there is something anyone can use and pay 20 000 satoshi but no additional taxes? And yet I'm thinking.. If they do shut it down.. Is it possible for something else to appear instead? Or is it truly the end of bitcoin then?

That is really not a good news for blockchain, but I think it is not so easy they must think about this for several time as they are going to cutoff themselves from a new emerging currency of the world which is going to be accpeted by all the countries of the wrold in future.

I could see a push to ban bitcoin but not the technology,it would fly in the face of advancement in technology.
They would have some push back from areas that they would not even be taking into account,such as similar products that banks are planning to use.
Do not see this as being to big a problem as it will take a majority in Europe to get this pushed through.

The chance of this happening are less than the EU falling apart and the latter seems to be more likely at this time.

I have always said when the (central)banks are ready to launch their own crypto currencies bitcoin would be banned.

Bitcoin was just the alpha build and we are just the stress testers.

Explain to me please how you ban technology ? You cannot it is impossible. You can not take an idea from someone.
You can hurt or kill them burn their house but you can never take education knowledge and ideas from someone.

NP government would do this it would start a war. I wouldn't wanna live in a shithole world that bans technonogies I would rather fight for my rights.

Way over 1000 activity and yet you say stupid thongs like that ? ???

If Europe chose to ban something, it should ban websites telling false news to scare people. There are rules regarding Initial Public Offerings, accounting and access to capital markets, and those rules change with time, but most of them aren't applicable to BTC. Europe may tighten again KYC and AML regulations, and that may concern exchanges, but BTC and blockchain tech are safe.

Because bitcoin is a threat to their own experimental coin, the euro, but don't worry if they ban bitcoin or blockchain technology then that only means the new developments in the cryptocurrency world are not  going to happen in Europe and they are going to be missing the benefits that come with it.

I agree. The thread title is nothing but fear mongering. If people actually read the article, they wil find that the speaker indicated three possible approaches, one of which was banning blockchain technology, which was promptly dismissed. .It must be said thought that the article itself is fear mongering also with the following in bold:

if europe wants to ban blockchain technology then i think it will not good for them because before they make this statement, i am sure that they can see the positive of blockchain technology. the main problem of blockchain technology until now is the lagging of transaction, and i think many economic people don't want to waited too long for just make one transaction. just imagine if one transaction sometimes need almost one hour to complete, what will happen with the economic and the people itself? but if blockchain technology can develop for fast transaction in future, then i think many government will think twice about this technology.

Yea... because of Adoption Mainstream of Chain Block, Bitcoin and other cryptocurrencies has been hampered by problems related to ease of use, negative public relations and application methodology, among other factors.

Blocking chain is a distributed book technology that P2P commerce supports without the need for a central function of the market. Although better known as the infrastructure that Bitcoin is, potential use cases are emerging in a number of sectors, including utilities. Blocking the chain is attractive to companies, so it is necessary to speed up transaction times, remove centralized control on the market, reducing the cost of conducting transactions and ensuring trust between different parties.

Despite the above benefits the widespread adoption of technology has not yet been achieved. There are cases of testing by a few banks and a number of government agencies around the world, but in the broader perspective, Blocking the chain and associated elements will integrate.

To those words youve said it gives me a relief though that this news regarding on banning blockchain is dismissed since i cant really believe at first  that banning blockchain is possible in any way.If its dismissed already then it means they cant really do it and thats a good news because theres no threat already on bitcoins adoption on some places on the world.

The title of this thread is not the same title bitcoin.com used in their article, this thread is misleading.
The title they used was: Europe will have power to ban blockchain tech in jan 2018

As mprep mentioned They are simply listing the ways they approach any changes in the financial world.
Read the article.

No it is not true, and people are lazy to read. Take the time, read the article and then come back and post something constructive. The EU knows Crypto currencies are here to stay, it is now part of the financial system. They have a duty to protect the consumers, if something is perceived as a threat. < Imo Fiat and the banking sector is the biggest threat, and they did not lift a finger to stop them >

Bitcoin and Crypto currencies will just be regulated to protect consumers, but a blanket ban will achieve very little.

This kind of thread title is totally misleading and is more of a click bait + FUD than anything else.
I am more afraid that in January 2018 we might not have European Union in current state.
Seeing how fast legal structures of EU are degenerating I wouldn't be surprised to see see further splits.

Bad news for bitcoin. I am sure this will not reduce the interest of the users of bitcoin. May be a worry if bitcoin when passing the Euro official Europe currency.

This only brings more attention to Bitcoin, and the act demonstrates that, if necessary to protect the state's interests, centralized governments are willing to alienate people from a useful and important technology to the world economy. All this brings more incentives for people to start using Bitcoin and other blockchain technologies.

Exactly, the government of Europeans are fear to bitcoins because still there are problem with bitcoins as technically are like bock size and other problem, but actually it is still planing for banning bitcoin usage on there, we just can wait and see until january 2018 because right now they are learning about bitcoins and related.

I think the main reason why Europe is planning to ban bitcoins because of its negative impacts on the financial and banking system. The brexit has just occured lately and they are now probably in the state of going towards economic downfall. If the Europeans will panic and shift to bitcoin then the possible economic downfall will really occur. So to recover from its financial problems Europe decided to ban bitcoins not because it hates bitcoin but as a way of recovering their financial and banking stability.

I really wish people here would read the posts and links before posting for their signature campaign based purely on the thread title and you guys in the Yobit campaign are the worse , they should just ban the whole bloody campaign.

Europe is NOT planning to ban bitcoins at all, as the article says:

Actually if Europe wants to ban blockchain technology, well it is a critical topic and of course europe has the power to do it. The European Securities and Markets  is responsible for promoting investor protection, orderly markets and financial stability. "https://news.bitcoin.com/europe-power-ban-blockchain/"

But do they need to do that? For what reason/s? If they really want to do it, then is it really big impact to the users here.

This was also posted on Reddit, in /r/europe and reading some of the comments makes me pretty sad to think that some people are really short-sighted.
https://www.reddit.com/r/europe/comments/5fb9rb/europe_will_have_power_to_ban_blockchain_tech_in/

Some examples:



I just think it's kinda stupid to even make the argument for banning Bitcoin about it's use for illegal activities.

Well,I am not from a europian country. This may sound's bad for all who were in Europe but i also believe that if this action would really be implemented it can cause them a lot of trouble especially if the other countries instead adopts bitcoin. The flow will just continue around the world.

there is a big difference between when some people are only talking about banning bitcoin or blockchain technology and when there is serious talk about it.

in my country nobody knows about bitcoin but when i checked more about it there were some suggestions to issue a law to make using bitcoin illegal but these laws never happen. nobody agrees with them.

It is no surprise, Bitcoin is a big challenge to all the fiat currencies out there, because it is beyond the control of anyone of those governments and which is a reason they are fighting tooth and nail to derail it. They however woke up quite late, bitcoin and its blockchain technology is done reveling the falsehood and manipulations of the governments and its agents, that money can never remain what it used to be.

If they ever get some success in dislodging bitcoin, they would only have succeeded in laying the foundation for a more sophisticated and rugged coin to take center stage, because this is really not all about bitcoin and blockchain, but more of abolishing modern day slavery from its roots.

Not good news, but they are not necessarily true, you can usually start to prepare for this, but I think it's just rumors.

They can try stop bitcoins power, but they won't be succesful. This currency is already consolidated, many persons over the world depends bitcoins for their own success or for the sucess of their businesses. The best thing governments and another authorities can do is accept it, this way they will be saving a lot of time for everybody.
At this moment it's impossible to know what will happen in the future, for now, let's continue making profit with our businesses.

I read some days or weeks ago that Dubai was going to use blockchain technology to attrack new tourists and cryptocurrency users. Here opinions are two: One side is going to use it for tourism development and another side is banning it in 2018 january. Maybe europe countries have their strategy for financial income and it'll help them. Let's see what will cause blockchain population and banning in different area.

https://www.youtube.com/watch?v=ijxr5Oolf5A&t=64s

They always say that in the beginning. Then they when they find they can do this. They try to limit the damage by controlling it. Who ever said they would ban it is ignorant.

Huh?

Says who?

I read the article and that didn't say anything about banning bitcoin technology.  Have I missed anything?

Ooops, yeah, just the title. ;)

good job it's not true

I read with a smile :). I still remember, when nokia cooperated with the government's monopoly on information technology system. then in fact they could not stem the android os which clearly exceeds their capabilities.

This analogy is not the same, but blockchain would be a great project than just a smartphone. There are always pros and cons, because they touch the real world currency stability. I don't agree with the opinion that considers currency and real bitcoin will not collide. They will collide, when Bitcoin scarce and contested.

They will admit blockchain when they were unable to stem the global market's confidence.

Sensational headlines attract masses, I also didn't saw anything about banning bitcoin in article.
Writer just wanted attention, and with this headline wlhe got it.
There is no truth in this headline, and just some idiot would believe in this. Bitcoin is safe for now, in future who knows we will see. Much more likely they will try to control blockchain, in case they don't succeed they will try something else.