Bitcoin Forum

What will cause a government to ban bitcoin in the country? In what circumstances will that be justified by the government?
And how can government actually ban bitcoin? I mean they can ban people selling or buying stuff with bitcoin in the country, can they actually ban people from holding bitcoin?

Governments won't ban bitcoin for long (India) when most of the top politicians, leaders and central bankers are working for the rothschilds, even though they absolutely can.

One by one, they will all adopt bitcoin. You will see.

it can be very different with each government, in different countries the way of thinking is very different to other countries.
for example as we saw Japan is very open to technology and accepted bitcoin as a real currency in their country. but other places are still unclear about it.

the only place that i have heard beaned bitcoin is Bangladesh. and i am not sure about specifics of it.

Bitcoin is a big virtual currency, it affects the economy of a country i suppose they ban bitcoin because they worry for their country, most countries ban bitcoin since it was just At that time, people have not noticed its effect, so they worry it will ruin the economy in their country. However, the opposite happened, bitcoin brings a great profit for everyone. Countries using free bitcoin always grow, though bitcoin has many bugs, but it has shown us its potential. So, it will not be permanently banned in countries, it's just a temporary rule, I believe that right.

The government can ban bitcoins if it goes out of control. This would mean that it becomes a vector for money laundering and black market activities and has become a haven for criminals. But of course if in the beginning the government had set up rules and policies before the acceptance and adoption of BTC then it cannot be used in criminal activities. If in case the government will ban bitcoin it doesnt mean that people cannot hold bitcoins anymore but they cannot convert their btc to local currency or sell them in their neighborhood.

Dear all!
I don''t think so, BTC very good at the moment

It doesn't matter if the world governments ban bitcoin they already have their own legitimate reasons to do so anyways, what you can do however if faced any problem in a specific country there is always some options available for every one such as taking advantage of services like BitMixer to cover your tracks effectively in cheapest way possible and there will be people here in this forum to buy and sell bitcoin if everywhere else failed you.

i think it's very simple:
when the position revenues are touched, who detain this revenue start to fight.
Bitcoin could be devastating to the private banks and the credit card scheme...
if you want to check country by country, check here:
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

They can claim that bitcoin is used in illegal activities particularly by terrorist.
They can get all the information of bitcoin users from exchanges and ask exchanges to shut down their business.
Luckily the can't prevent anyone from holding bitcoin in offline wallets

Governments can ban bitcoin or make it illegal but there is no concrete way to actually stop us from using it. Maybe it will be harder for us to exchange it to fiat because exchanges will be shutdown but there are still other ways. They can never really stop this.

It is possible that the Goverment could ban bitcoin in some countries, in fact, in some countries, bitcoin was already banned, like in Russia, India, Iceland and so on. But still, since the bitcoin is anonymous, people in those countries are still using bitcoin. They just can't shut all of the bitcoin users just by banning it.

And banning people using bitcoin is impossible, because they don't know those individuals who are using bitcoin, because it is decentralize and anonymous, that is why.

In "democratic" countries government can do the following:

Regulate bitcoin.

Require exchanges in the country to follow the Know Your Customer rules.

Legislate unfavorable taxations laws - taxing it like commodity instead of currency.

Require to follow expensive procedure to open exchange - like New York license.

Create massive propaganda in mainstream media by claiming that it is used for money laundering, black market and by ISIS.

In non democratic countries:

Make it illegal to open a bitcoin exchange. 

Try to actively track bitcoin transactions and locate the state citizens involved in bitcoin transactions and prosecute them.

Off course all of these can backfire. In democratic countries - by switching bitcoin activity to more tolerant countries and thus letting them to enjoy the huge competitive advantage from allowing bitcoin related technology to develop freely.

In non democratic countries - by adding incentives for bitcoin to evolve and become even more oppression resistant. Also in those countries - whatever the government fights - immediately becomes something that everybody assume is good to have.

Those techniques cannot stop bitcoin and will fail miserably. Even if this was a global attempt to ban bitcoin - it would only slow down the adoption rate and force bitcoin to evolve even more rapidly.

Bitcoin is information - it cannot be banned. Once people realize it is possible - it cannot be undone.

If the government found out that many people using bitcoin for purchasing illegal things or doing illegal transaction then the government has the right to ban the coin, when too many people using bitcoin and not paying tax the government will surely find a way to ban bitcoin, bitcoin is giving advantage for the user not for the country

Yes any government can ban bitcoins by simple saying that it's used in supporting terrorism.
Therefore, a lot of exchanges will be shut down and it'd just be harder and "illegal" to change it to fiat. :(

But I guess for holding the coins they can't do much if you mix them in a bitmixer and save them in an offline paper wallet.
Let's hope that more countries start officially accepting them as Japan did.

Fiat money is used for the exact same thing, do they ban money ? That's not a reason I guess


That's true though.

A government can ban bitcoin if they saw any threat to their economy because of bitcoin. We cannot really say the exact reason because each government of different countries have their own laws. If they find it (bitcoin) unconstitutional or whatever, they may ban bitcoin in their territories. When they ban bitcoin, they will not accept any transactions via bitcoin or using bitcoin, they cannot actually ban people from holding any bitcoin since they cannot monitor every citizen of their country.

All people deserve internet freedom, and banning bitcoin at this point of time is almost equal to banning internet freedom.

I also think that using bitcoin to purchase illegal goods or using bitcoin to support any illegal activities  is not a reason to ban bitcoin. Bitcoin is a digital currency and no one can  control people on how they will use it. Using bitcoin for illegal acts does not make bitcoin illegal. Let us take note that bitcoin is also used for good things such as for donations or alike, this, however, does not make bit[Suspicious link removed]d as well, it is in the middle, neutral. Bitcoin will not be treated illegal based from how we use it.


Surely the government will not ban bitcoin automatically just because of this, they may implement tax for the transactions using bitcoin first. The government will not take the last resort first, regulating bitcoin will also help. Though I agree that this is true but I do not think that they will use this as a reason to ban bitcoin in their country.

They can ban bitcoin indeed. You will still be able to use bitcoin if they ban it but they will make life very hard for you, especially if you are holding many bitcoins.

People will with many bitcoins can survive for quite a time but sooner or later they'll be needing cash and banks are the only safe exit unless they're not blocked by the the gov.

When you won't be able to use banks, you'll be using local traders and that'll bring you a lot of mess to deal with. Firstly, you can get robbed. Secondly, the people you are dealing with might be cops. And whenever you need cash you'll have to take those risks. Simply not worth it.

Long story short, Govs can easily make your life miserable if they wanted it. Bitcoin is good but it won't make you invincible.

Well I think they will not ban bitcoin without a just reason. And freedom does not mean do anything, it comes with limitations and responsibility.

The risk for their civilians, The bitcoin is not having strong legal aspects ( i mean the law aspect to defend its investors such as the insurance).

If the government can give a direct intervention to defend his civilians / Legal helped.

Actually, they can't.




Their reason will be aiming on the law and regulation of its government currency.

i think people can not use bitcoin in public area and we can not see offline store that available to accept bitcoin for the payment but i am sure that people which is using bitcoin will search another way so they can still using bitcoin without government known. maybe government can only ban from using bitcoin but they can not close the purpose of people with using bitcoin except government is trying to close blockchain with many ways.

The Government will try to ban Bitcoin when they have a competing altcoin. They would love people to use e-money so that all transactions can be tracked and they can play big brother. Until then, they will just tolerate Bitcoin.

There are so many threads out there in this board that has the same topic like this, the same questions with different phrases and different words used but the same idea. And they are answered already by different members here also. You are sr.member right? and you know how to read and use the searched function of this forum?. Example of thread is
What would happen if BTC was Banned?
https://bitcointalk.org/index.php?topic=1294465.0 and not only this thread but there are 3-6 threads related to this.

I don’t think a ban on bitcoin is very practical. It definitely won’t stop it’s use. It will just go underground and can’t be used at the corporate level. I mean even if your in a communist country like Russia or North Korea and the block access to websites outside the country you can still get around them very easily with a VPN. I don’t see a reason for a ban on the currency either. If a government doesn’t like it, they don’t need to implement it.

Let me clear the misunderstanding here,bitcoin as a protocol does not have any bugs but it needs some technical updates with more users and coming into it to manage each and every transactions you need some upgrades and that does not mean that it does have any bugs,its completely different,BU who is on the other hand trying to take over the core does have many bugs and no one takes them seriously now that they proved that they are not that competent enough with the bugs it had.According to the government banning bitcoin they could ban exchanges running in a country but to ban the protocol they have to ban internet. :P

Ignorance will cause the government to ban Bitcoin.  And it will be justified in whatever circumstances they wanted, they rule the country, so definitely they have the power to tell it is justified even though it is not since the ignorance.  Though they can ban it through restriction of exchanges, they cannot totally ban the network of Bitcoin just like torrents.

Some countries already banned bitcoin, but still government cannot handle the people's mind on using it especially they cannot manipulate the web so far, so I guess it does not matter if the bitcoin is banned to some other countries.

Bitcoin is usually banned by nations with weak economy or authoritarian/totalitarian government.
Examples: Ecuador, Vietnam, BTC was banned briefly in Russia (not anymore).

The government usually claims that the only legal tender is state-run currency and every other payment method is illegal and harmful for the state.
Bitcoin ban is all bark and no bite, as long as there is internet access government can't really prevent people from using BTC.

This I agree with. There is nothing that can stop Bitcoin now. It is like a pandora's box. Once you open it you cannot put it and close it back in.

The situation in China is a very good example of how uncensorable and how Bitcoin cannot really be banned. Like bamboylee said, the government will make it hard to convert to fiat.

Causes? There are lots. Just researched on a countries that bitcoin is being banned and find a specific country. I will assume the cause will be included there.

But it doesn't mean that people there will not able to use or hold bitcoin. If bitcoin related site like exchanges can be accessed in the country where bitcoin is banned, then people there can still use bitcoin. It will just give them a hassle way when converting it to fiat since everything will be done under the table because it's prohibited.

If some countries find any of their citizens using bitcoins for illegal activities,then they may take a decision to ban bitcoins.But banning will not give them the desired results.For that reason only,Russia and china dropped their idea of banning bitcoins.Bitcoin couldnot be banned unless internet is banned.

I don't know if governments could actually punish every user when they ban Bitcoin.
I'd like to compare it with torrents, Germany for example is doing a pretty decent job prosecuting users that illegally share material, so I think it might have a big effect if multiple countries went about it the same way as Germany does with torrents.

A lot of people would still be able to do it ofc, but it serves as a decent deterrent, so the price would go down I believe.

All banning Bitcoin does is force exchanges a bit more underground and it makes it harder for the average person to do anything with it. However, in the event that the average person has enough money they want to get out of Bitcoin, regardless of the laws, it's possible for them to do so. They just end up being a bit more clandestine about it.

Banning Bitcoin is wholly ineffective for stopping anything of importance. It just becomes an inconvenience for normal people, typically.

I think they can, Gobeenments can ban bitcoin into their country when these digital currency is cauing a harm or maybe it is a reason of big illegal activities to be on action. Bitcoin is free and you can do whatever almost that you want to do, but the thing is, it is also a good way to pay or sell something that is illegal and the government will never knew it because they are not the authority that control bitcoin, the users are. If these kind of activities are being abused by the people of ones country, the government will be banning it for good.

They can ban Bitcoin. The problem is if they can enforce it. It is the same with downloading movies illegaly from torrent sites. It is illegal and you can be made to pay hefty fines if caught and charged. But can the government really stop it?

I don't think that governments can stop bitcoin since people can still access it as bitcoin is still standing. They can only ban it if it gets down however it is impossible since the market of bitcoin is huge and I don't see any reason to shut it down.

That's true since the governments cannot turn off Internet globally they've actually lost control over the usage of Bitcoin because no matter the ban people will still use it in the underworld and that will even hike it's prices and will gain more popularity.

government may take into account the tax for purchases with bitcoin, this calculation is so difficult, that the micro-economic calculations very difficult to calculate, assuming this is what makes some countries refuse to use transactions with bitcoin.

The reason they're banning bitcoin is they dont want an decentralized virtual coin they can't control and their people.
What they want is their centralized and over regulated fiat currency to be used by the people so they can manipulate them with taxes and debt, loans.

reason to ban the bitcoin probably mostly related to politics. state may not want to accept bitcoin for bitcoin does not provide a clear advantage for the country. besides, bitcoin is able to compete with the bank which is a state trust.

When bitcoin turns to be a threat to the growth of Country's economy governments will oppose it. Same happened in​the past when Yuan falls China made a inspection all around and made regulations as well stabilizing yuan. So when the real nature of bitcoin is understood governments won't oppose, they adopt it.

bitcoin is money and it can not affect a Country's economy by nature.
and what China did had nothing to do with Yuan price and whether it fell or not. it was all about money laundering and many other illegal money related stuff in a big but unregulated place working with fiat called bitcoin exchanges.

They can't ban people from holding bitcoin.
Bitcoin can literally be held without any proof, People are able to literally store their private key in their brain by memory(although, this is really a bad idea if you are thinking of doing it), use a salted brainwallet, or even engrave it in some secret code that nobody knows about on metal.

So tell me, how are governments going to find out about these people owning bitcoin? It's impossible.

What is possible is limiting people depositing fiat onto bitcoin exchanges in their country. They can require lots of ID and proof of the origin of the funds(think what China is doing right now), and basically cause a panic for bitcoiners in that country.

They can also limit your accounts on a centralised exchange, like Coinbase.
So make sure you don't use that, hold your own private keys!!!

You seem to have got something backwards

Money is the thing that affects an economy of a country most strongly. There is even a proverb which basically says that if you want to destroy a country first destroy its money. The invention of money is of the same scale as invention of wheel and catching fire. Just imagine where we would have been (or rather remained) if we were still using only barter. Right now, Bitcoin is of no great danger but with instant off-chain transactions it may quickly become a major threat to and pain in the ass of many governments

Government maybe can ban bitcoin but to track each user in their country i don't think they would do it everytime. in my country bitcoin not legal yet but we still can use bitcoin with our own risk. so no regulation about it

No doubt that bitcoin is already banned in some countries and it will happen for another countries also where people are using bitcoin to hold or make trading or earning or making deals with the bitcoin .
Here the condition to ban bitcoin in any country will arrive when the government officer will try to ban and no one will can against this decision by and if no one will came to tell advantage of bitcoin in better way for better use .
If the same thing happen then surely bitcoin will got ban but if the bitcoiners of that country will explain in postive then about it is impossible to ban bitcoin .

Basically, governments not able to track the transactions of bitcoins and they may not be knowing the source of investment so most of the governments are not with bitcoins. Last week in Indian parliament also one minister bring up this issue to ban the bitcoins to use in India.

Basiccally make investments into bitcoin is high risk losing money, i think it is one of many reason
the government ban usage of bitcoin on their countries
also the government can not control about bitcoin because of decentralized of bitcoin but it is good fetures
that make bitcoin is still alive until right now and the comunity of bitcoin will make bitcoin is alive.

Indeed it is impossible, but it still cuts both ways

While it may be impossible to find out info about people using Bitcoin entirely in cyberspace, but only as long as it remains there. Such use doesn't threaten any government in any meaningful way. Basically, most of Bitcoin application today comes down to speculating with it (i.e. trading) or gambling. Whenever you touch real economy in whatever way (i.e. go out into reality), your impose yourself and your identity to the risk of being revealed to the government. In other words, no one cares that you are planning to kill, for example, Pope until you do something which can be actually interpreted toward that (e.g. tell somebody about your plans, thus revealing your intentions)

I wouldn't say impossible, yes it is difficult but it is not entirely impossible. Some countries require bitcoiners to verify their identity in order to convert BTC to fiat. With this, the government may identify a person who's currently holding bitcoin saying that they ban bitcoin now. Another, due to the  advancement of certain government agencies, they can track transactions using bitcoin and pinpoint the person using its IP Address. So basically, it is not entirely impossible.

I would like to hear more about these "certain government agencies" (and their methods of revealing one's identity)

And how they are going to pinpoint a person (his IP address) by tracking his Bitcoin transactions, more specifically. You should understand that it is not enough to claim something, you have to provide some evidence actually substantiating your point. Apart from that, I don't think that anyone is particularly interested in vague rationale about such a possibility. Indeed, if someone reveals himself all his personal info at every corner, it won't be difficult to track him down. But you don't need to be a government agency to do that, obviously

Well, I would say that I agree with you in almost every point, but the thing is that if bitcoin will be banned totally, you still can store it somehow: but how would you cash them without using bank account/bank system?
Only for cash, and that is also risky, because you dont know if the buyer isn't the police.

Another important aspect is that the bitcoin price would fall pretty hard in case of BTC getting forbidden all over the world, so that would be another reason to leave the bitcoin alone.

The causes of a country banning out bitcoin to their country is earning bitcoin doesn't have tax it is all yours only transaction fee was the only way on taxing it, and I think the government really wants to control bitcoin, I don't really know how is a country would ban out bitcoin, but in my opinion taking out the internet access of the country or blocking the sites that are bitcoin related, or if a person had make a transaction regarding bitcoin they can surely know and pinpoint the location of it, but the thing is I think that they would realize the thing that is lost if they truly ban bitcoin from their country.

may be is goverment thinking that bitcoin is scam ..
but bitcoin ban by goverment is imposible but bitcoin can run without goverment :)

Any country on the verge of a conflict with China, would be wise to dump BTC as soon as possible.
Blocking BTC Transactions is an ability their 68% gives them.


 8)

Right after Trump had been elected as a new president of the US we discussed this issue

I basically claimed that the Chinese miners could potentially retaliate on the Bitcoin users from the US by deliberately blocking all their transactions (i.e. not including such transactions in the blocks they found) if Donald was really going to fuck up with China. The consensus had it that it would be impossible to do, and I remember you posting there too (though I may be mistaken). What changed since then?

Probably, well that is for politics-oriented countries,mostly. When a country's government is politics-minded, they might ban bitcoin because of personal interest. However, if a country's government is concerned about the country's change and growth, they will utilize bitcoin into their advantage.

the government can ban bitcoin because they think bitcoin is making people avoiding tax, or making people use it for deepweeb CP, like in russia, or any other illegal things, but no government really banned bitcoin for now, ah well maybe bangladesh, but they can't ban people that use bitcoin, when they ban bitcoin they say, that if you use bitcoin they put you in jail, this scare people and make bitcoin less usable in that country

I don't think any country has so far blocked it. It will be really under some extra ordinary circumstances. One which I sadly am starting to believe is terrorist, it's hard to believe but they are using it and if it continues it will lead to a sure shot ban. Then I feel next would be taxes that the government is suffering. It's a sad reality but the government does loose a lot of taxes. Other than that I don't think there should be any other reasons.

If they are going to ban bitcoins because the terrorists use it, then there fiat should have been banned decades ago. Every single thing that has value will be traded upon another thing. Thus, it will always be used by the terrorists. If we are using gold coins right now as a means of buying things, the terrorists will be using it as well. Terrorists is just a part of the economy of the world.

For the second thing, there's only 21 billion dollars market cap on bitcoins. Even if all of that were taxed, it will be just a little amount of money to the government. Even the 21 billion USD itself is just a little amount of money to the government. They wouldn't mind losing this amount of money at all.

That will be only a pretext for banning Bitcoin, obviously

Since banning Bitcoin by just one country doesn't make a lot of sense (Bitcoin is just short from being banned in China, and it didn't change anything), we can imagine the UN Security Council issuing a resolution which would be binding to all UN member states and which would aim at a universal ban of Bitcoin on whatever pretext they find most appropriate at the moment (terrorism financing, money laundering, child pornography, drug trafficking, just to name a few)

http://s45.radikal.ru/i109/1704/6b/876caf7758c9.jpg

This will happen when people around the world will openly defy their government financial authority

Do you know banning bitcoin is as simple as banning the ip address of sites associated with it?
Or making it a law that anyone directly and indirectly involved in bitcoin will be raided and prosecuted?

You guys think that banning bitcoin is so hard as if the governments are truly helpless. No, they are not.

Bitcoin might get banned only if people from various places inside the world paid for Weapons and other illegal things instead of having the interest in regular products like food, toys, clothing and the such. Bitcoin would then get noticed as a really bad thing to have around and it would make the people around the purchasers plus the sellers of Bitcoin a dangerous threat to the environment.
The people that want to ban Bitcoin would have somewhat of a success in banning Bitcoin because there would be a dramatically small amount of people that have Bitcoin purchasing access.

And how are you going to ban the IP address?

They can restrict access to a domain name, but banning IP addresses would be equal to banning Internet as such, more power to them. Nevertheless, I'm curious how are you going to prevent people from using free VPN's, anonimizers of all sorts and kinds as well as numerous proxy-servers scattered all over the world. Let's assume that you are a government hell-bent on prohibiting its citizens from using Bitcoin. What will your actions be?

How will you ban bitcoin ? You can't. Anyway banning things is ridiculous and does the opposite. Drugs are banned. Yet ever since they were made more and more illigal there have just been more and more demand ? So banning drugs was detrimental instead of good. What about violent video games ? Should we ban those too ? Should we ban GTA because a few people shot other people and stole some cars ? Now the game must be blamed ?

Ban bitcoin for what reason ? Government greed ? Banning bitcoin will do the opposite to what they want. People will just increase their usage just to spite the government. Bitcoin is people's money. People don't just sit around when someone threatens their money. If it was true then there wouldn't be so much crime and murder because that's mostly done for money. So threatenings someone's well being and family by threstening their income is a good way to start a civil war.

Why so I say this ?

One example is India or China.

You work like a dog cutting down trees or some other horrible manual labour. Now you work long hours for crap pay and you hot and tired and you in the sun and it sucks. Then you discover bitcoin and you can now blog about your life India or take part in bounties or whatever and make 3x more then you were and not have to be in the sun all day chopping trees or whatever. So now if the government threatens that because people are working online instead of working like slaves do you think those people will do nothing about it ? Eh noo ... I would do anything to not go back to chopping trees. Bitcoin changes people's life and is a tool of liberation and freedom !!

Viva let bitcoin !! We stand united we stand strong !! No dictator of tyranny can break us down. For we are justice and freedom.  In bitcoin we trust.

If you read this far thank you ^^

Banning bitcoin sites is just like China banning porn sites.

Another is to make it illegal to get involved in bitcoin.

Yet another is use the media to spread all negative news about bitcoin.

And then forbid all banks from opening/managing/handling accounts that involve bitcoin-fiat transactions.

In the end, you may still own bitcoins (secretly) but it will be worthless and useless to you.

Additionally, make it a law to prosecute all business entities that directly and indirectly involved in bitcoin, including prosecuting web hosting sites that hosts sites that buy/sell bitcoin.

You right. You cannot ban the IP it will not work. That guy had no idea what he is talking about. Ban the ip they get a new one ? Then what ? Ban it again ? They get a new one ? Even if you start banning entire sections of IPS like Netflix has started doing it won't be for long and it is very resource intensive. Would you rather your police force catch murderers and theives and rapists or stuff around banning IP addresses ? Crime will go crazy.

Raided ? Prosocuted ?? You clearly have no idea about the law and have a very crazy imagination.
Firstly. You cannot just raid someone's house. You need a Warrenton signed by a judge and a damn good reason to believe said person is actually using bitcoin. Now let us say a hacker installs bitcoin wallets on other people's PC's ? Essentially the jacket can have anyone arrested. Seriously dude please this k before you start typing crap. I know I sound rude but dude really now.

If police started raiding everyone's house do you think other people will like this ? People who don't use bitcoins will not like that at all. It's not cool having a communist Nazi type regime of police running around raiding people . People will protest . I wouldn't like my neighbor being raided over something stupid like using bitcoin. That such a breech of so many things including ethics and human rights. Noone had the right to tell is what we do with out hard earned money. Noone is above us they are not God the only laws that should be written are those to protect people as a whole and not to further s few people personal agenda. Otherwise we will be living in a post opolyptic world where nothing makes sense.

Do you know that in the US, police are raiding houses and killing occupants WITHOUT warrant from the court?

Lol.

You live in your own fantasy world. How is it there ? You only obey and do what people tell you to ?
You can't just go around prosocuted people . They can't prove who owns the bitcoins ? What you talking about is a communist government. Why would you even live in a country even willing to try that which btw will never work.

Additionally, refer here ---> https://cointelegraph.com/news/comply-or-close-shop-cyprus-sec-to-international-forex-bitcoin-traders (https://cointelegraph.com/news/comply-or-close-shop-cyprus-sec-to-international-forex-bitcoin-traders)


Causing uncertainty among companies that hold bitcoin eh?

Just a simply yet-to-be-enforced threat can send jitters among companies holding bitcoin.

Imagine what will it do if actual law is in place banning bitcoin as illegal.

You are a very NAIVE person, do you know that?

The moment China starts requiring exchanges to do anti-money laundering policy and the participation rate of Chinese from over 90% sharply dropped to way below 20%, causing massive fall in price.

And here we are just talking about AML policy.

We are NOT even talking about outright banning and passing law to make bitcoin illegal and punishable by imprisonment.


And all the while, naive youngsters keep talking about how great is bitcoin that it cannot be stopped by the government. I say, this is LOL.
If the governments really do make bitcoin illegal and punishable by imprisonment, you will see the price fall so much you will actually shit in your pants.

And most of all, knowing all these does not make the intelligent to be fearful of bitcoin, but instead make him much wiser and more confident in investing in bitcoin.

Only the naive will feel differently.

You are not the first (and not even the second) who comes up something along these lines

This won't work out as you think it would. Basically, banning Bitcoin is not the same as banning some drug or a violent game. Banning drugs and similar things doesn't affect them, cocaine will remain the same cocaine no matter how illegal it is being made, how many times it has been banned, or what punishment its possession may bring. In other words, the use of such banned substances will remain the same. This is not the case with Bitcoin since its use (read value) directly depends on whether governments are turning a blind eye and keeping a deaf year to it. If Bitcoin gets universally banned its use will drop and thus its value will plummet too. There is no advantage from decreased use in respect to Bitcoin. In short, it won't become more expensive due to this


Whom are you talking to now?

But why would governments ban Bitcoin? They don't have reasons to do it now, the adoption is low and it doesn't affect government plans. And even if someday many people start using BTC and governments start banning it, people have their voice to be heared by their representants. They can requisite the use of Bitcoin on their countries, government can't deny it.

Government will find a lot of reason if they wanted too.  They can even create fake scenarios and false evidence.  Once the government declare that Bitcoin is used to support terrorist and make fuss about it and exaggerate things about how Bitcoin are helping the terrorist, then they all have the reason to restrict the use of Bitcoin.  Luckily they need to convinnce all nation  to agree with the ban.

In progressive and civilised countries there will be no bitcoins ban. Of course things like terrorism and criminal activities could be the reasons for that but many governments now see that there is no use of bitcoin ban and that the virtual currencies are new reality. They will try to regulate bitcoin, yes, but not ban it. Unless maybe in countries like India, South Korea or similar.

You should never forbid what you lack the power to prevent

When Bitcoin user base expands dramatically (e.g. due to introduction of instant payments), it might be already too late to cry, so to speak. That's why it makes sense to ban Bitcoin right now while it is still possible. After people start massively using Bitcoin between themselves abandoning local currencies (and this is what I expect to happen eventually when transactions become ping-time instant over time), banning Bitcoin may play an evil joke with the government itself. Governments are not as invincible as many come to think here, and banning Bitcoin would backfire and effectively mean outlawing the government itself

There is nothing that justifies bitcoin ban and the Government (if they wish to ban anything), they'll find any excuse and they can just pass an order to ban all crypto currencies (bitcoins and altcoins) due to its misuse and not being authorized. They can freeze all the funds of a person even if the person has been holding bitcoins earlier (as most Governments have considered it as a currency associated with shady trades and illegal activities) and proving the source wouldn't be sufficient.

The countries that decided to ban this currency feared that their own economy was suffering and hence they applied a fine on those still dealing with bitcoins. Till now, no country has banned it for illegal activities dealing in bitcoins as even their own currency is used for such activities.

A big NO

If they can do this, many countries might have already ban bitcoin. They can't shut down all the distributed nodes all over the country and if even one node remain alive, other nodes can easily copy ledger from that single node.

It is not like banning few websites by ISP.  ;D

They can make a law that says holding and selling Bitcoin is penalized by law, but it won't happen. First of all it's not dangerous in any way, it's like holding a bunch of mp3s, movies, collectibles, it doesn't harm anyone. It would be something similar to prohibition, where people still bought and drank alcohol, they just couldn't do it openly in daylight, but attended hidden basement clubs.

Only the ignorance of the governments will make the governments to ban the use of bitcoin in their country as only the ignorant people to bitcoin do not understand it and often make false assumptions about it and often deny the use of bitcoin.

Right now, I don't think any government will "totally" ban bitcoin from their country. They may limit the use of it by their people (i.e. Chinese government) but it is has a very small chance of getting banned. I know that some countries are already adopting BTC and they are already integrating it in their financial market. As we all know, bitcoin has vast potential as virtual currency and any government will take advantage of this.

Nonetheless, do not worry of bitcoin getting banned.
No, it will not.
Any ban will be temporary.
I believe India will lift its ban soon.

News of money laundering, funding terrorism with bitcoin are just there to serve as a base/excuse to implement regulation in the future.

It isn't easy to ban Bitcoin due to its decentralised nature. Bitcoin can be banned in a sense that businesses are not allowed to accept Bitcoins as a form of payment and exchanges cannot operate in the country. You can try to reduce the number of nodes that people in a country can connect to by implementing a firewall. Bitcoin would just be made more difficult to access, not restricted completely.

Well that is becoming the whole point now. It is turning out that Bitcoin is not for the average user. All the average user does is hold them or trade them for profit in fiat. The people who know how to use Bitcoin properly are the criminals and the dark market users. Most of the people in this forum do not really know how.

i think bitcoin can not be banned all they can is caught a person using it live, but they can not keep track on all the person because bitcoin is semi-anonymous system.it will take a little time more to accept bitcoin in India and china. but i would like to see governments getting failure which avoiding bitcoin. hope they tries their best and in addition its true that people in India easily get scammed thats why government was forced to take such decision

Bitcoin can be banned.
And they won't ban it because it's the phoenix currency.

It's like saying I can't crash my car because my car is invincible.
No, I don't crash my car because it's mine.

A lot of what you have mentioned is true The government can take action any time they see an abuse of the use of Bitcoin. Situations like Bitcoin being the main currency of Drug transactions, Bitcoin Laundering, and payment for illegal things in the dark web. Also with the wide use of Bitcoin there will be a chance that the government will have a decrease in national income because there will be a lot of hidden earnings via Bitcoin because it is untraceable. Also the government can easily shut down the operations of Bitcoin because it's operation involves the use of the internet. And the internet and its web is controlled by the government. Remember the site Silk Road? Many versions have been created of it no matter how many they are they have been shut down easily. Now Torrent Sites are endangered because of its piracy and everything around it. Bitcoin may be next when they see an abuse of using it.

There's no way Bitcoin will be banned by the world. Several countries may restrict its usage. But an outright ban is not possible. Although I foresee a situation where the altcoins will limit the relevance of Bitcoin. Already the dominance is being challenged. Before now Bitcoin dominated the coin market by over 87%. But right now its strength has dwindled to 65% in dominance.

But not the content that fills the web

They can control network equipment like cables, routers, switches and whatnot but they can't control traffic which this equipment is used to transmit. Indeed, they can block it, but that would amount to blocking all Internet at large. Given the role of it in our life today, that would be prohibitively expensive (in terms of economic consequences). Regarding raiding places like Silk Road and its likes, how are you going to raid the blockchain itself? Suppose instant transactions kick off and decentralized exchange is implemented over the blockchain itself (i.e. it becomes an integral part of Bitcoin), what are you going to do next?

The government might ban bitcoin for many reasons, all we know that bitcoin has been used for many criminal activities so no doubt for them the government to ban it. However banning bitcoin is not completely banning the activity of the bitcoin user, they can ban people for selling or buying bitcoin, in this case, is local exchanger, maybe people can't convert their bitcoin to fiat but they can still use it freely whether spend it to purchase something online or hold them in their wallet due to the decentralized nature of the bitcoin, that's why they can't control it. The best way to ban bitcoin that government can do is banning mining farm this will cause a big impact on the community.

if i was a government i would enforce the rgulation of bitcoin instead of banning it, bannning it doesn't make anything for me, instead regulating and makign people pay tax for me can increase my income as a government of any country

would be stupid for them to miss this opportunity and ban their own new way of revenue, they could also tax big farm with additional % because of business income

BTC cannot be ban because of its free to use  anonymously and private currency,easy to use. I have read some forums news here, They even say north korea uses bitcoin for secret transaction for funding. If BTC shall be ban many companies and people will be bankrupt in no time. So I think BTC cannot be ban except if it will cause world war III.

This can only happen in few countries and few business where they can ban bitcoins and stop people from using it. People will still use it online and in other businesses where they is no such Ban.

A Government/Central Bank can ban bitcoin because have fear from it. The people my use it instead of their local money and this will bankruptcy their country economy. This ban is not justified because bitcoin is a product of revolutionary technology which will affect the life of everyone of us. Is justified the regulation of it but not the ban.

Practically banning bitcoin will not be possible for governments, even they have planned any type of banning bitcoin, over time they will learn regulating bitcoin will be the right solution instead of banning. As far as I have learned, stopping people from saving/using bitcoin is not possible so government will learn what are practically feasible for them.

I like to suggest people here not to have any panic about government ban on bitcoin in the any future, we can leave off such topic (as it will not be possible for government), we can work on other aspects of bitcoin.

You don't see the whole picture

By regulating Bitcoin officially governments would be effectively recognizing it. Obviously, recognition and acceptance are the opposite of outright prohibition, and while they could (theoretically) increase their revenues derived via taxes which they would levy on Bitcoin operations, the negative effect from people starting to massively use Bitcoin (and not paying taxes at that, anyway) would heavily outweigh any potential benefits. In other words, that would be a decision penny wise and pound foolish overall. But just in case, I'm all in

Banning bitcoins from the government will look the same like when they ban porn sites or different terorristic pages on the net and many other things like that. It is not so impossible, indeed. We are all controlled and seen, just we don't realise that. Yes, maybe in some countries the government comes freely to the point of banning of diffrent sites which bring illigle or just "not good" information. But in developed countries this point solves very fast. So, if they can ban bitcoin if they want easily.

Most Democratic countries will have a hard time out right banning Bitcoin but even in America companies can have their banking accounts closed, assets frozen and be prevented from using traditional money transfer systems by alleging they are enabling money laundering. 

If this happens Bitcoin will be pushed underground but it won't die.

Bitcoin may even get a boost if banned, because kids love to rebel against the system.  I wouldn't be surprised if Bitcoin got a huge boost in price after becoming illegal. Kids smoke pot and drink to be "cool" and these activities are cool because they are illegal. Pot use has fallen in states were pot has been made legal. If you tell a kid he/she can't have or do something that just makes them want to do it more.

it will be hard that the government will stop bitcoin or ban it because of the internet. we all know that a person can access bitcoin if there is an internet. so if that happens, the government must shut down its internet connection first before it can ban bitcoin. just my opinion.

have a good day mate.

Who are those controlling and overseeing us, aliens?

Ultimately, such control and supervision is ineffective and inefficient on purely economic terms. You would have to pour tremendous amounts of money into such a system and hire half the population so that they would spy on the other half of it. And pour even more money and hire the other half too to spy on the first half. It makes sense to sift the data collected by government agencies in search of die-hard criminals (like drug dealers and pedophiles, or similar dregs of society), but if most people turn into drug dealers the system will quickly get stuck and become utterly useless

The most probably thing or cause of government banning bitcoins everywhere is when bitcoins beat up financial system run by the world government.They dont like that way bitcoins is because it will threaten them and no government would let that happen.Also one reason that may cause this problem is legality issues of bitcoins.

There won't be any boost

And you'd better not hope for that. As I explained it many times already, Bitcoin value directly depends on how wide it is being used. The wider it is used, the higher will be its price simply because more people will be chasing the same amount of bitcoins. The value of pot doesn't depend on how widely it is used, since it will be the same pot whether it is widely used or not. In fact, it could be plausibly claimed that if its use expands its price will actually decline eventually since there will be a lot of incentive to produce more of it (remember, the number of bitcoins won't increase in a similar case since the supply of bitcoins is rigidly fixed), and then economies of scale will inevitably kick in which will lower the prices over time

Yes, due to the technical nature of bitcoin, the complete ban is totally out of question. Banning is few organizations wont help to the organizations themselves as this is like closing the eyes towards the new technology, means failure of the business in the future.

Even if its banned, people who have used it will always continue to use it, because its such a great opportunity. And yes, banning will only pull back the the specific country and organisations growth if they banned BTC.

That's a very naive thought.

If bitcoin gets banned (which also includes all the business operations associated with it), then where will you refer to for the price of bitcoin to make a transaction?
Like saying, "The price will still be $1,200/unit."
Well, where is this "$1,200" that you get from? Who gives you that quote?

Banning bitcoin will make a big problem in country that has the most number of bitcoin users.In fact there is already some country where bitcoin is banned in,one i know is russia due to reason that terrorism grow there because of bitcoin terrorist are able to supply their ammunationd many other things.

The price will obviously crash if Bitcoin gets universally banned

But even if all countries "unite" to ban it (which is an unlikely event, anyway), they can't ban cyberspace as such (banning Internet is an even less likely event than banning just Bitcoin alone), and many exchanges which are not there yet (such as, for example, Bitfinex) will have to urgently and completely move to cyberspace (if they want to continue to be involved in Bitcoin trading, of course). So, as I'm inclined to think, there will be enough places to get price quotes from, though withdrawing fiat will be troublesome indeed

Your words leading me to think that Rothschild`s have something with inventing of bitcoin, or if not that then they have a lot of bitcoins or mining rigs which is more likely. I think that some countries will not adopt bitcoin, world is working like that, there will always be people who will be against bitcoin, and they will stay traditional and conservative in any way. Japan legalized bitcoin couple days ago, and that is a good step for btc, we will see what will happen, on this things we can not inflict, we can just stand and watch.

While any ban on government might not be that effective but it will certainly create many problems for bitcoin users.
For example,if btc is banned by Indian government,all centralized btc exchanges will have to shut down their businesses and share all their users info with government.

when and if someday bitcoin was banned, the price will take a hit for sure but that has nothing to do with what dmamigo said!

in order to use bitcoin the only thing necessary is bitcoin having a value. it doesn't matter how much.
have you forgotten the 10000BTC pizza story?
and price is only determined based on supply and demand. as long as there are peers demanding bitcoin in exchange for something, then it has value. it can exchange of 0.001BTC for one cup of coffee or it can be exchange of 10000BTC for a cup of coffee.

Do you know why there are no Jews in China?

In fact, this is not technically correct since there are about a few thousand Jews in China, but given the country's population of around 1.4 billion people, this number is truly negligible. So why are there no Jews in China even despite overall neutral attitude of Chinese people toward Jews? Basically, because the Chinese are the Asian Jews themselves, and Rothschild's bros can hope for nothing there. Thus your whole point has more to do with conspiracy theories than harsh reality

Well, the rothschilds created bitcoin for us in order to keep track of us totally (how much wealth we have, what asset we own, what we buy/sell, etc).
Bitcoin is their "money" to digitize us all.
But bitcoin is not their money, because bitcoin is artificial.
The money of the rothschilds is gold, but if we have gold as wealth, then the rothschilds would not be able to control us, thus bitcoin is needed for the job.
The rothschilds don't need bitcoin to stay rich or maintain their existing wealth, because their wealth is in gold.
In the future, the "value" of bitcoin will reach such a high level that people that hoard gold will conveniently exchange bitcoin for their gold.
This is effectively a "strip away" of the real wealth that we have in exchange for a digital wealth that is not only fake but also a mean of control/dominance.

Most governments are behind the rothschilds' dark syndicate.
Most of the politicians are corrupt and willingly play along with the rothschilds' game because that solidifies each other's power over their own people.
The people that will be against bitcoin will not be the government people/politicians, but people like you and me (average joe).
These people that are anti-bitcoin will be a sort of economic outcast in the future.

Japan legalizing bitcoin gives confidence to other Asian governments to follow along (Japan is a pretty conservative country, so if a conservative country is willing to adopt bitcoin, what more of countries that are less conservative, something like that).
Japan's adoption will also help the rothschilds to discover how acceptable is bitcoin to the japanese people and identify the rate of adoption and acceptance now that it is legalized.
The rate of adoption helps the rothschilds identify the right timeline for carrying out their plan.

Do you know who funded the Chinese communists?
It was the rothschilds.

Your harsh reality isn't harsh enough.
The one that's truly harsh will force you to feel totally hopeless and helpless and give up life on earth (i.e. go spiritual, like becoming a monk or something like that).

Societies around the world are degenerating.
Moral and ethics are falling lower.
By right, technology was supposed to help us transcend beyond materialism, but instead people become more materialistic than ever.

Humans are in a form of bondage.
And that bondage is the result of us worshiping the money god.
It is our worship of the money god that gives power to the rothschilds.
By right, we don't even need money to survive and prosper.
The earth is so rich and bountiful, and we are so intellectually advanced that all needs can be easily managed by automated technologies while life on earth should be about joy, adventure and discovery.
By right there should be no poor people, no people in hunger, and no sick people.
All resources can be efficiently utilized and allocated to build the most advanced and hi-tech infrastructures on earth instead of wasted on high-quality products for the rich vs low-quality products for the poor.
The low-quality products experience lower durability and get tossed in landfill and pollute the environment.
And the humans unnecessarily slaving for generations and lifetimes supporting the false economic system of the money god just for daily survival that can already be easily met with today's technology.
Why are we succumbing to the money god?
Why are we succumbing to materialistic pursue?
Our lifestyles are a bunch of falsehoods made up to cater to the money god and its system.
When are we going to stop?

Before the government can reach bitcoin they should know how the transaction work meaning to say they need to legalize first the bitcoin program in transaction so they can control it. And even if it happened i guess the government will not banned the bitcoin because they will become aware on the positive attribute of the bitcoin on transaction and prince increased. They can also control the price and demand if necessary.

Generally speaking, they are government, and if you know, they are ruling and need no reason actually to ban Bitcoins. They might come up saying Bitcoins are being used for illegal activities more than for its privacy purposes. What agendas they put in front of people have nothing to do actually with its ban, but what they will be planning is all we need to know. Govt may even take interest in people's money that they are making through Bitcoins, may not ban but levy some handsome taxes over it which would let everyone either stop doing it or pay those amounts.

Can you provide any legitimate evidence?

I always thought it was Stalin and his accomplices who actually promoted Chinese communists to power


http://i045.radikal.ru/1704/b5/6fffe3c0c67c.jpg

Stalin was a committed antisemit, just in case. So I don't think that he had anything to do with the Rothschild family (if you are going to tie him with the Jews too). Nevertheless, even if what you say had any connection with reality, you still have to face the facts, and the facts are that the Chinese don't allow the Jews to interfere with their affairs in any way possible (unlike other nations). As I said, the total number of Jews among the Chinese population is infinitesimal (on the order of a few thousands)

You are better off finding that out from youtube or google.

I believe that none government will ban bitcoin but if any has decide to do something like that will do for the following reasons:
1. The cental bank of this country will be fear that citizens will stop to support local fiat currency
2. Government will loose the control because there is no way to control btc

Imo, there is no country who cannot actually ban btc but she can create many barriers if anyone wants to use it, like as:
1. Very strict policies to local exchanges
2. Unnecessary bureaucracy and procedures to anyone businessman wishes to transact with bitcoin
3. Information campaigns against bitcoin

Well, i think that some of your points are actually right, however I have to say that i cannot agree with some of them.
First, I dont have idea what influence of bitcoin being banned could have on fiat currency, it is really unlikely to see that the locals would boycott the fiat currency usage because of harmful cryptocurrency rights.
Secondly, losing control about what?
The government control printing paper money, also the law however bitcoin is totally separate from regular fiat money, it is totally a different thing.
Bitcoin will live even when it is going to be banned in every country in the world ( which is pretty much impossible )

But I agree with you about the barriers that government can build on the way of cryptocurrency, imagine just forbidding crypto exchanges.
That would be a huge strike into crypto trading in specific country, the only way would be to trade it face-to-face, and you can't even know if the guy you make the trade with, isn't from police right?

They can try to block bitcoin, but they cannot erase it no matter what.

This would work only up to a certain point

First, there would be no local exchanges at all if draconian policies get introduced. Exchanges like Bitfinex or Btc-e are already existing mostly in cyberspace, so implementing such policies will be counterproductive in the long run. Second, only a tiny part of businesses are accepting Bitcoin as a means of payment, so creating even more barriers will be an exercise in futility, stupidity, and hilarity. And last (but certainly not least), information campaigns against Bitcoin in circumstances when the local currency is consistently and hopelessly spiraling down will actually add to Bitcoin popularity, not take from it (as well as direct and outright ban). The Russian government tried to do something to that tune in the early 1990s by banning the US dollar when the Russian ruble had been plummeting like a stone. This didn't in the least stop the population from using the dollar whenever possible

I agree, an anti Bitcoin campaign will make every citizen to know it, curious of it and not all people going to believe on what is in the campaign.  This might probably bring more users.  Curiosity.   This might be the start of using Bitcoin for those who happen to newly knew about Bitcoin.

No I have a different view about that. Look at the definition of fiat money in investopedia.  (http://www.investopedia.com/terms/f/fiatmoney.asp) Fiat has value not because there is a commodity to support it but because there is a demand from people. If it (demand) is reduced then the local currency gradually loses its value. Moreover there are other reasons. Say in China; why were they in a hurry the last January to regulate bitcoin? Chinese authorities claimed that their purpose was to restrict the bitcoin's illegal transactions. But the three leading Chinese exchanges suspended only bitcoin withdrawals but fiat (yuan) transactions were not affected. This situation lasted for a month or more if I'm not mistaken. So if PBOC reacts in that way what anyone could think for other not so strong countries?