Bitcoin Forum

Can that happen, some countries have been salivating at the idea

they do that and they will have another thing to handle like drugs.

people smugling bitcoins, etc...

I read a few minutes ago that In China, there is BTC BAN for all Chinese Vendors comming soon. Dont know how reliable the story is, look into.

But if so, bye bye BTC.

US Senate hearing seemed quite positive to me, I doubt banning is probable now

lol - banning something in China only makes it more valuable there.   ::)

Bitcoin is the first. Infinite variants are possible. How can you regulate something you cannot define. Any attempt to define it will leave the door open for what is next.

Also, Once Bitcoin and alt coin markets get too large, the people that run the governments will likely all own chunks of crypto, I say 1 trillion is the point of no return. So a government could kill crypto currencies it but not once they gets too large.

Final point is that Bitcoin in no way threatens to remove the dollar or Yen from the planet. The USA will always require tax payment in dollars. You will always need to sell Bitcoin to pay your taxes, that includes sales tax if you are a business owner.

Ha ha huh, no it doesn't smart guy.

The chinese gov. literally executes people who violate some of there most pety laws. Citizens are really scared to break the law there.

So much you know....

I can't see how they can be banned, unless Internet access is somehow pulled, though that still doesn't eliminate the issue. Of course you can impose prohibition on businesses accepting bitcoins, possibly? Anyway, here's hoping that this won't happen!

link?

where did you hear the hearing?
is that even public? :D

I hope its wrong... China has been a major reason for the current rise/bubble!!

got me there   :D

it was live on CSPAN2

I'm sure the video is on youtube by now

I highly think this will not happen. It would damage the currency a lot and there's no real benefit for the countries to do this.

They can try throttle the beast, but they wont be able to kill or tame this particular one. To ban bitcoin outright you would probably need to ban the web and computers. I'm sure there's ways they could make life a little difficult for us, but 'banning' or even trying to stifle such a thing as Bitcoin will ultimately be futile and will only just push it back underground which is where this animal thrived from in the first place.

Just look at prohibition. Whether they try regulate it or ban it; it wont work, so they're going to have to adapt and deal with it.

Ban Bitcoin would mean not allowing any exchange to work and probably people offering Bitcoin on localbitcoins would risk fines/prison

These chinese gov. has done everything it could, to dethrone the dollar in a few years.

A couple of days ago the chinese gov
announced that they will no longer invest into FX exchanges (dollars, bonds, etc.)

http://www.marketpulse.com/20131120/china-longer-expanding-fx-reserve/

This shouldve made the news and been all over the headlines, yet everything is being pushed along and kept quiet.

The chinese are positioning themselves to pull the plug on the US dollar very soon, and I dont think that the Chinese Gov. Is going to allow Btc to ruin its agenda. I just read the Chinese Vendors will be banned from doing any transaction.with BTC (look it up at google.hk)

The chinese gov. Is buying all the precious metals it can (gold, silver) , and so should you.

I dont think they can, but if so I will just be a "outlaw" and still hold it. I have made some friend in Brazil, and Australia so I can get them to sell it for me if I need.

I dont think they will, or even could.

Banning exchanges will just push the currency underground and people will trade it amongst themselves like they did in the beginning.  Fines/prison wont stop people. Drugs and theft are illegal and carry prison sentences, but people still commit the crimes.

Apparently they're banned in Thailand where I went on holiday, not sure what that entails though?

Really? I thought the China government were also buying.
Also, there is this one badass miner in China who mines like 50 BTC a day lol...
I heard that they also banned them in Thailand.

The chinese citizens are buying btc, yes.

But the chinese gvt. Is not buying btc so don't start misleading people.

If the chinese incoming vendor ban is true, watchout.

That turned out to be false, although it was still reported as true by many news outlets.

I doubt the exchanges in China could start to operate without some goverment authorization

Didn't they just not grant Thai exchanges licences to exchange it or something, not ban it per se?

Some people expect Russia to start banning Bitcoins after the last Internet censorship laws being passed.

In Russia Bitcoins own you.

Would be interesting what would happen with BTC-E

OMG. This made me watch: https://www.youtube.com/watch?v=8EiJHmHPVig (https://www.youtube.com/watch?v=8EiJHmHPVig).

dam countries banning BTC

hope it wont happen

  LOVE THIS

banning is highly unlikely by most governments, but i wouldn't be surprised if there were 1 or 2 countries that did it.

there's one thing you can be certain about though: government wants its cut, and it will make sure that you pay it.

I agree in order for it to become mainstream it will need government help... Then a transaction fee will go straight the the Government.  At the moment it is still too small to make them tax it, but as soon as it breaches a certain threshold, which I am sure has been laid out by someone they will get involved

Not possible, there are hundred Governments over the world, who you would pay the Block fees to ?  :)
Tax is payed from income by every person. Report and pay it properly  ;)

usa maybe

Oh god, sanding the dead skin off your foot with a drill arghh  ???.

Thailand banning bitcoins maybe,  Bank of Thailand is liaising with Thailand’s Ministry of Information and Communication Technology, Ministry of Finance, and Securities and Exchange Commission Thailand before making a final decision.

In China, bitcoin is a digital commodity, not a legal currency, so it apparently cannot be used as input by vendors legally (otherwise a lot of accounting and taxing issues). It's not allowed in the first place, not banning. People can, however, buy and sell BTC as they wish on the exchanges without any problem. This was confirmed by the government officer in public. I believe Bitpay like services will emerge in China soon. That is people pay with bitcoin, but the vendors get the fiat.

Don't worry about the demand of Chinese people will decrease because of this. Most of Chinese people buy bitcoin for investment or speculation, and I think only a tiny part of them may consider using BTC as real currency. As long as there're no other reliable investment options in China (the stock market there stays at the bottom for many years), the BTC price will increase just as the property price there.

Now if any country want to ban bitcoin then he must ban INTERNET then its possible to ban this bitcoin otherwise its a not good idea

Banning and enforcing the ban are two different things, in my opinion enforcement is impossible, enforcement is ineffective in most cases for contraband goods. The few that will be caught using bitcoins will be given pointless prison sentences and it will be all business as usual.

systemD

FTW

deal with it bitchez

they'd have to ban the internet
impossible

Countries that want to ban are doing so cuz they cant control COINS.

What will happen if they do?

Then they can make btc worth 1$? or less  :-\

Most of countries that are willing to ban are from Asia cuz they buying them most

Big brother don't like bitcoins,get ready for the attacks
If they go after the server providers,could get messy