Bitcoin Forum

If politicians could ban Bitcoin, they would have done it by now.
They can't ban it.

The price of bitcoin will have no effect even if the president of USA bans it. There may be temporary panic in the market but it will recover because the demand of bitcoin worldwide will never decrease ,rather it will increase with the passage of time.

I would suggest everyone not to panic from such statements and also Donald Trump will not take any such step to ban bitcoin in his country.

Let us say for example a law to ban bitcoin was passed in the US, the price will go way higher simply because of the difficulty of buying it. Some people will still buy bitcoin even if it's declared illegal there.  

Trump saying he is going to ban Bitcoin is like him saying he is going to build a border wall. Neither will happen. I wouldn't worry about it too much, but his tweets certainly do affect the crypto-market, along with the regular stock-market. Like I always say, there is no bad publicity for things like Bitcoin.

I think the prices will most definitely drop if Trump would ban bitcoin, simply due to the fear of people owning it. I have no doubts that majority of the Americans will sell, while the others will just hide their coins on their wallets and not use them for now.

P.S. Governments can't ban Bitcoin per se, just as they can't ban torrents, but they can definitely make the ownership of bitcoin illegal. Probably by giving penalties like jail time and such.

+1 to this one, bitcoin's network doesn't depend hugely on USA, if they take this decision, this will be another proof of their dumbness which I don't think they are.
But still imagien USA banned bitcoin: what happens? Alternative ways, bunch of VPNs and mining/operation from current companies will continue from different location. In any way it's hard to run service from USA because of high costs, so this decision won't affect current US companies seriously, that's good. Then probably people will massively start to use VPN and access their coins this way.
If USA banks bitcoin there mustn't be massive panic to my mind.

I don't think the price will drop if Trump bans the bitcoin. Most of the platforms and users are not in the US, most of them are in Europe so I think it'll affect it a little bit. If OP is just referring about the bitcoin then Ethereum and other platforms will lively go pump in the market.

He won't
Trust me.
Because still there are things in US itself that shows how some big business men thinks that It could just change the whole senario  in the US regarding it economy.
The 3-4th highest chances of you bumping into a Bitcoins ATM is itself in US only.
He doesn't like it doesn't mean it doesn't support.
I think the future is bright in the US.

 There are countries that banned BTC. They can't however stop their people from using it and this will also happen in US if Trump ban BTC, the government just have no jurisdiction over a p2p network but then the price will certainly dip if Trump announce it. I'm not gonna try holding mine if there is a chance to profit, I would sell mine for I know I might be able to profit from it.

Based from some articles[1] from crypto news sites, from Binance alone, the percentage of traffic from U.S. customers is approximately 15-20%. I'm pretty sure that's a significant number if you ask me.

Also, by the way, Coinbase, Kraken, and Gemini are US-based companies.

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[1] https://www.theblockcrypto.com/2019/06/14/us-customers-to-be-blocked-from-trading-on-binance-com/
     https://cryptoslate.com/binance-to-block-customers-in-the-united-states-from-trading-plans-to-launch-binance-us-soon/

Oh,come on.The Donald Trump crypto tweets topic is all over the forum during the last few days.
Can we just STFU about it? :(
The bitcoin price is now stable and the FUD wave is gone(for now).Donald Trump might not be president after 2020.
If bitcoin gets banned in the USA,it's price will go down for sure,but the blockchain will survive.Americans will have to use VPNs or Tor in order to trade BTC after such ban.

Sure Trump can ban BTC. It's highly unlikely though, and the ban won't stay forever as cryptocurrency in general will grow. US doesn't want to stay behind the rest of the world.

The price of BTC will drop significantly I think if Trump decides to ban it completely, but that will just be another buy opportunity. Long-term BTC isn't going anywhere, and still heavily undervalued.

Trump is not popular among the public and many of his decisions are not been accepted by the public at large. I do not know what is his intentions when he is giving such statements about the bitcoins but overall this is sad for bitcoin community. I hope he changes his opinion about bitcoin soon.

Okay. Let's start by saying that it's just one tweet, and that it can be that Trump's just saying what the people who elected him want to hear mostly. America's great, America's money is the best, America's banks are the best and other sh*t like that. Even if the guy doesn't like Bitcoin and would prefer to ban it, he can't. He is only the president, not the king. He cannot make laws, he can only sign or veto them. And his party doesn't have the majority in a part of the parliament. And his party doesn't have the majority in the House of representatives which passes bills, so not a chance.
If he were able to that, though, it could affect the price for a while. But Bitcoin is strong, it would've got out of it eventually anyway.

Wrong. If the US govt decides to ban Bitcoin, it'll definitely affect crypto companies in the US, like exchanges, as well as the entire crypto ecosystem in this country. Also, with a bitcoin ban, you can bet your ass that we won't see Bakkt or a Bitcoin ETF (so, it'll also affect those US-based companies and financial institutions that want to jump into the btc bandwagon), meaning no "massive influx of fresh capital from institutional investors" which is what the BTC community wants in order to see the price and the value of their BTC stash skyrocket.

USA is one of the biggest players in the crypto market, a ban, or something similar on bitcoin in the US, will 110% have a negative effect in the Bitcoin price, and god knows if it'll cause a snowball effect in the rest of world. Then again, chances of seeing a ban on Bitcoin from the US are so low that most of the time I consider discussing the matter a complete waste of time.

Seems you're understimating how powerful the US president is in regard of its decisions. The price will obviously drops and has great but its not necessary that's the end of BTC, no one can kill BTC except if the whole internet goes down.

May be I will have another chance to buy some more Bitcoin. Those who are truly into Bitcoin they know that it's not going to die very soon in fact never.

OP: If Trump ban Bitcoin then it will be ban from USA, do you think people from the other countries care about it much. In fact they will take this chance and become more richer than Americans :-)

He cannot ban what he does not have control over. However, if he happens to kick against Bitcoin, that might seriously dampen the price of Bitcoin for some time, as he might influence other allied countries to do same. However, that wouldn’t last long as cryptocurrency will keep growing and he would not be in that position forever.

well sure they can. trump could even do it himself. in 1933, FDR banned private ownership of gold by executive order, and required people to sell it to the government at a fixed price. you don't think they could do that again?

of course it wouldn't kill bitcoin, but driving it into the black market would have a pretty big effect.

He can, but that doesn't mean its the end, more people will support BTC coz obviously, the government doesn't want it.

That would people in the US will actually do once a ban lifted in there.

The price will surely fall off the track but does not mean that the bitcoin will die after He Banned it, remember China has Banned bitcoin too but it remains until it recovered its price again. so if Trump banned bitcoin, it will not affect much it just one of the worst decision he will make.

I mean you can`t really ban bitcoin, You can outlaw it in your country. It would have 0 impact on bitcoin itself, other than speeding up the network a little once all the traders were done changing exchanges and some leaving the market/bitcoin.

As for the price sure the market may go down a little for a bit, but it would go back up and when other countries and merchants refuse USD over it, which they will, I promise you, then It will go back up a fuck load.

Just know it will be your only time to get cheap coins again if he "banned (outlawed in his own country)" bitcoin, that will be the last big dipper.

any kind of negative news in any kind of market out there always causes a downtrend in that market, there is no exception either. so your question is half answered, obviously bitcoin price could fall if that hypothetical situation happened.
but again like any other market the value doesn't come from random news whether positive or negative. the value always comes from the utilities and bitcoin won't change when a country bans it or when a country adopts it, bitcoin will remain the same resilient decentralized currency as it has always been. so the other half of the answer is that price would rise back up after the "drama" ended.

I am actually underestimating this US president. And I don't believe that there will be a significant drop of Bitcoin's price even if Trump will declare it illegal. Look at how Bitcoin fared when he made his infamous statement that he does not like Bitcoin at all? Not only did he say that he does not like it, he also associated Bitcoin with crimes. Was there a drop? Not a single Satoshi.

If he cannot even fire a member of his white house press, how much more firing Bitcoin from the entire US?

i think if donald trump ban bitcoin it's doesnt mater with the bitcoin prices because bitcoin holder not just from the US.

It is unlikely that Donald Trump will prohibit the use of Bitcoin. From his statements on social networks it is seen that he expressed his opinion as a person and as if from an observer.
However, if he does this as the president of the United States, then this will cause a bitcoin price reduction for a while. We see that such bans are ineffective.

Donald Trump will face the full force of some very powerful companies in the courts, if this happens. A company like Coinbase can fund a lot of lawyers to fight this all the way to the Constitutional court and we have seen previous court cases on encryption technology that has already paved the way for them not to even attempt this. <Courts already made the ruling that you are allowed to encrypt your data>  ;)

We also saw what happened in the US when they banned the nationwide sale and import of alcoholic beverages, called the Prohibition. People just went underground and started to do this illegally and this robbed the US of millions in tax income for years. We already know Bitcoin is unstoppable, so you can guess what will happen if they start banning Bitcoin too.  ;)

It's not about data encryption, but rather the ownership of a certain kind of property. I think it's unlikely but as pointed out earlier, the US government could outlaw private bitcoin ownership just like they did with gold for 40 years (https://en.wikipedia.org/wiki/Executive_Order_6102). Gold confiscation by the government was never found to be a constitutional issue.

He only says few words through an social media but it's makes crypto users around the world speculate about the future of crypto but it would be different if those tweeted came from the presidents outside US however if this is happen then i think the price suddently fall as some of people always be utilize bad news about crypto to dumped the price but i don't think it will be last long consider most of bitcoin users not only came from US

No one will directly ban the Bitcoin or accept the bitcoin due to some background history but the price hike and the increasing acceptance capacity of Bitcoin creating a strong global ground for this digital asset.

Donald Trump could ban bitcoin and other cryptocurrencies banned from USA, and the same can't be expected to happen through the rest of the countries. Even now there are more countries that have banned the usage of bitcoin, yet the usage from people keeps continuing. I believe there will be such disturbance in the market if Trump takes some initiative to ban bitcoin, other than that there won't be big impact.

https://i.imgur.com/Hzbzvzw.jpg

If Politicians can absolutely stop bitcointalk,they would have done so by now. Bitcoin was designed to be censorship-resistant, so Trump banning it won't stop its use. We will only have a temporary drawback,then the market recovers,same way it did when China placed a ban on it. It is worth mentioning that the US congress admits that you cannot ban bitcoin. The option they therefore present is to adequately regulate it.

https://cointelegraph.com/news/bitcoin-an-unstoppable-force-us-congressman-tells-crypto-hearing?fbclid=IwAR2NGt1MZuSuCPk_8mk-GN1S6gTGbTPkXK0BE8PDkbjDLwOSGkfb8pbeiLA

According to the latest news, the US Dollar is possible nearing default. After Trump’s announcement that he didn’t like Bitcoin, the Chinese court found Bitcoin as "virtual property". From this, it can be concluded that if the US bans Bitcoin, China will become the center of cryptocurrency and gain control of the market, Bitcoin will grow by suppressing the dollar and the US will be in a very difficult position

let's suppose the US president banned bitcoin the price would fall a lot, it would fall a lot because the US is a big power and that would make many countries go the same way as the US and many people who buy a lot of bitcoins are from the US (I don't I have data on this, but I suppose a lot of people who buy a lot of bitcoins are from the US because US people have greater financial capabilities, I may be wrong about that). But according to this article:

Trump Banning Bitcoin Is Feasible But Highly Unlikely, Says Economist (https://cointelegraph.com/news/trump-banning-bitcoin-is-feasible-but-highly-unlikely-says-economist)

it's not that simple

The worst case scenario is when Bitcoin is banned in the US by Donald trump, I think immediately the price of bitcoin will fall as well as a series of other coins, but I believe it doesn't happen when The versatility of bitcoin gives the US economic and military benefits to the US president.

We can expect a huge crash in this scenario.

BTC won't die, but with BTC banned, I don't see a lot of people brave enough to take the risks of being banned
And another situation is the institutional money, companies will sell BTC immediately ins this case

Yea, I honestly think the main problem would be the exchanges. Since they would no longer be able to legally run and sell Bitcoin for fiat, it would cause a lot of issues. I think that the chances of this really happening though are quite slim. Donald (just like every president) says a lot of things that will never happen, just to get the crowd going.

Bitcoin will definitely take a hit and the price may suffer for some time. I do not know how low it will drop if the US bans bitcoin, but I know bitcoin will still recover from it. Bitcoin is worldwide and not constricted to US. That is the beauty of decentralization. US can ban it but it will still continue to grow in countries where it is accepted.

What does it matter what Trump will do, beside he can only try to ban in usa not in other country, Trump will come and go but btc will still remain supreme, i feel irritated anytime i see all this topic about btc and trump, too much attention on it which shouldn't be, he should focus on doing right by his citizens not on btc.

Well it's definitely unlikely, but I'm not sure I agree with Krueger's rationale. He says the President would need to "convince Congress of the need to ban Bitcoin" which isn't really true.

Trump could ban Bitcoin via executive order. Congress could only attempt to stop him by passing a new law to invalidate it. Trump could then veto the new law. Congress could only override that presidential veto with a two-thirds supermajority vote (https://en.wikipedia.org/wiki/Executive_order):


So Trump doesn't need to convince Congress. Rather, Congress needs to have overwhelming consensus to stop him, which is a much bigger feat.

Of course he can't. He's just a clown.

Bitcoin would take a serious blow if was banned by any major government, including the Trump administration.

Personally, I think it would send the value of Bitcoin below $3,000 and it would be very difficult to recover from in the near future. The main reason being that U.S. merchants would immediately jump ship now they realize they're messing with a potentially illegal currency.

It will not affect too much in crypto industry if ever Trump will ban bitcoin in his country. One thing more it has a process before he can ban it. Other countries legally used bitcoin and not all investors comes from the jurisdiction of Mr. Trump .

LOL! Look at that! With all due respect, I would never agree. A Trump administration banning Bitcoin would send its value below $3,000? That is funny as it is beyond reason. First, because any initiative coming from Trump will not be accepted seriously. Look at how the US congress views Bitcoin. It appears the body is not on the same river as Trump. Second, this is not gonna happen. Please consider all the huge billionaire names in the US supporting Bitcoin.

Then He will ban to other country when use Bitcoin and Trump will closed Bilateral relation ship and stoped impor product, it's not just holder outside USA but it's about political country.
In fact, Bitcoin still alive when ban by powerfull goverment, Bitcoin can use when internet and computer aroun the world still alive.

It will surely affect bitcoin's price and I can say it will dumped down to $3k again. Trump statement is powerful and the market reacts depends on how big is the news. But we can never tell, if there is no FOMO among investors, there would never be dumped in bitcoin's price.  However, if we can see the picture if ever Trump banned bitcoin in their country, a small percentage bitcoin investors will be gone thus affecting the price.

he can only stop importing or exporting a product to other countries but not to bitcoin because he didnt hold bitcoin   . no can stop bitcoin  , you can still trade online whenever you are in the world   . there is less restriction online and you can still bypass their security using some tools  .  if ever trump bans btc , that will have an effect on the price  . the price of btc will decline but it will still recover because not all countries will be able to do the same banning  .

Well, recently I saw the article about the war between governments and cryptocurrencies so I can leave it here (https://www.blockchain24.co/crypto-civil-war/?fbclid=IwAR0o4AZBymbrmEypkLJm37sq9nU0nC3h6L7B41QdVpJYnKxkjleC_FfHOQ8&utm_source=Twitter&utm_medium=social&utm_content=Crypto%20Civil%20War). And I need to say that to me - it would be perfect if USA government accepted cryptocurrencies and this Trump's statement is quite incomprehensible...

Trump decision will temporarily have an effect on bitcoin, as expected, there will be panic and lots of weak hands will sell off, but with time, things will regulate and bitcoin will bounce back, we shouldnt forget that the demand for bitcoin is globally and the USA is just about 1/3 of the world demand for bitcoin.

How Donald can ban bitcoin? I don't think this is possible.
Bitcoin is not a legal payment method in USA, or is it? So people will be in prison for trading bitcoin? That's crazy.

Although USA is a very important country in the world when it comes to world finance, but USA is not the only country in the world, the president can not actually ban bitcoin, if it were possible and he did, the market of bitcoin and its bullishness will go on and many traders will just exit USA because once you have tested the profit of bitcoin, you will earn for more.

Trump will never ban Bitcoin. If he could do it, Btc would have been already banned till now.

However, hypothetically speaking,  if US would ban Btc, I think temporary we might see a price drop to ~4-5k again.

He is not a fan of bitcoin, my parents are not fans of bitcoin, my friends are not fans of bitcoin, so the problem here is that he does not say that he hates and gives serious threats to bitcoin users in his country, only you read junk news that is often created to create headaches , but unfortunately the price of bitcoin is being corrected not because Trump said that, so all bitcoin users and traders are more mature and smart enough, you can see out there a lot of media that is paid to make scary news even though it looks normal news, all will alright, see it later

The crypto community consists of members from all around the world. US alone consists of a heavy percentage of people who are active crypto users.
So if Trump bans cryptosurrency in the U.S. then it will surely create a big impact on the price of bitcoin.
The price of bitcoin will fall down for a while as many users will try to sell their coins. Once the price has met the bottom it should then increase over time.
So even if Trump bans bitcoin it will just create a temporary effect on the price of bitcoin.

Is there any doubt that bitcoin would crash heavily if the USA banned it? All exchanges registered there would close and all american legal investors and funds would drop it.

Trump's tweets are not taken very seriously, but if it wasn't the main factor there are little doubts that his tweets helped bitcoin crash.
https://twitter.com/TheTIEIO/status/1150415614722433024

Imagine an american ban!

Not all publicity is good when we are talking about money.

And many influential commentators, politicians and studies are adding more negative fuel to the fire
https://www.project-syndicate.org/commentary/cryptocurrency-exchanges-are-financial-scams-by-nouriel-roubini-2019-07
https://research.bloomberg.com/pub/res/d28giW28tf6G7T_Wr77aU0gDgFQ
https://home.treasury.gov/news/press-releases/sm713
https://www.wsj.com/articles/most-bitcoin-trading-faked-by-unregulated-exchanges-study-finds-11553259600

We need to admit that if president of united states of America ban bitcoin it's really obvious there have and big effect for the price goes drops.
The last thought of trump their have an slight effect for bitcoin price drops because of panic, but I believe even bitcoin goes not into the zero if trump ban bitcoin.

I think that even pres. Trump doesn't like bitcoin, he would not right away ban it, but still be possible to do so. Pres. Trump was not a fan of crypto or not a crypto enthusiast so we can possibly say he can ban it possibly but i think not immediately taking decisions.

In my opinion, if Donald Trump can ban Bitcoin, it will not make a heavy influence on bitcoin price. Because most of the countries are not accept Bitcoin as their main currency. The USA is also not accepted Bitcoin as the main currency. So there is little effect on Bitcoin price after Bitcoin ban for the USA. People who have not enough knowledge about bitcoin, they can make the price down by panic selling for few duration.

The price might suffer slight fluctuations for a while but it would definitely come back up. Well Bitcoin existed before Donald Trump assumed the position of being the president of United States of America. Who cares if Donald Trump is not a fan of bitcoin but seriously don't fall for these schemes of whales okay. I am sure Donald Trump has some bitcoins stored on his ledger wallet. Most whales come up with such news just to shake the market and make people sell their Bitcoins.

People on the comments saying trump cannot ban bitcoin but did not think about getting jailed if they continue owning and trading bitcoin once their president impose it. Trump just saying that he isn't a fan of btc has already made btc decline so think what damage it can deal to the price when he lose his head and bans it. US is very powerful and they can lead the worldwide ban of btc if possible.

No one cares whether Trump is a fan of bitcoin or not but the fact is that if he had the power to ban bitcoin he would have done that already and that is not the situation and the only thing they might do is to drive the companies related to bitcoin out of the country by these comments as these companies needs  clarity and risk free zone to conduct business for the long term.

Do not under estimate the power of the common citizen, if you are living in a dictatorship reign you might be sent to jail but not in America.

Trump is more a performing person than that one, who knows well about political and economic stuff. Claiming he does not like BTC, he is simply going to get more hype. he knows that now, people will start talking about his personality in the connection with BTC, and it is profitable for a person who owns billions. As for Bitcoin price, his attitude does not affect it at all.

well, until now, trump has responded negatively to this development, and there is no doubt that trumps are indeed people who can make changes to the price of bitcoin. when it's banned, I think the price of bitcoin will decrease.

Trump is not going to prohibit the use of Bitcoin or other cryptocurrency. As president of such a large state, he did the right thing by defending national money. However, he did not speak negatively about Bitcoin so that we could see his intention to prohibit the use of cryptocurrency. Therefore, there is no reason for panic or even serious reasoning on the prohibition of Bitcoin.

The problem is that NO body including Donald Trump, can ban Bitcoin.

Agree. The US Government should have banned Bitcoin the minute they knew about it, but they did not because they knew that Bitcoin is a powerful technology that can be useful in the future. Donald Trump's statement might affect the price, but it won't make Bitcoin go away. Just think about Venezuela wherein Bitcoin is their solution to beat the unstoppable increase of their country's inflation rate.

If we see the history, we will know that negative words by famous persons are mostly spoken only to create panic and then those people themselves fil their bags with cheap crypto. John MacAfee used to do it and now I think its a move my the US to buy more cheap coins themselves by spread this temporary fud.

there is a big difference between not being a fan and totally oppose cryptocurrencies
Trump knows what it is and knows the pros and cons, since he has stated he wasn't a fan of it
but banning bitcoin is a huge step and this is not what the US and Trump need at the moment from the political point of view
if it happens , though , I think the price can go down for a period of time
but bitcoin's ecosystem won't be hurt too much by getting banned in one country even if as powerful as the US

I think it will have no effect. Please, US is not the center of the world but I know that many users belong right there. Volume and market cap will be lower and btc price might drop for a while then after that it can regain again..

Maybe then BTC will suffer (price) only for few weeks! Afterwards; everything will be fine for sure!

Historically, the prices have gone down whenever the talk about bans surfaced. First in 2013 December, the prices crashed when there were rumors about a ban in China. Another crash occurred in mid-2017, when there were similar rumors from the same country. And in 2018, another crash occurred when ICOs were banned in Korea. In case the United States authorities ban BTC, the market is not going to behave in a different way.