Bitcoin Forum

The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.

Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.

There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.

The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.

How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.  

Sure, the government banning(or specifically, illegalization, because they can't really "ban" it) Bitcoin is definitely possible. But saying that bitcoin's price will get "killed completely"? Sure a crash is likely to happen, but "killed" is probably over exaggerated.

Yes, and it doesn't matter. It's decentralized vs centralized money, and Bitcoiners wouldn't move to a centralized cryptocurrency just because a government created one.

It will matter for the price. AND it will turn Bitcoin into an underground and little used tool. You can also say goodbye to 100% of any institutional and large buyers, killing the price in the process.

Sure, and I'm pretty certain that has always been a possibility since forever; heck, anyone who tried to think about Bitcoin's potential downsides as an investment could easily think of that. The question is, to what extent can a certain government "ban" it? Knowing that some institutional investors(that has a crap ton of lawyers, even from Blackrock alone), are already in, and are continuing to get in.

Governments do not need to have a digital currency built on the blockchain inorder to ban Bitcoin, theyncan attempt to restrict its usage even if hey had no alternative, as some countries have already done. The reason they would want a CBDC is to give users an alternative to Bitcoin, which would give them the qualities it has (although, this would not be the case).

Control is really the only reason. Financial crime is mostly funded by fiat and Bitcoin does not facilitate it.

I think it is highly unlikely, Bitcoin is still at its budding stage but has gained lots of adoption by individuals and businesses, an outright ban would not be very practical as it could negatively affect the integrity of the government as well as push holders to other regions. A more likely scenario would be government agencies seeking for more control by strongly regulating centralized platforms linked to bitcoin.

It will have to be coordinated between the major powers of the world if it is to be effective, they are probably holding talks about this behind closed doors.

You are right, they cannot kill Bitcoin itself, but they can kill the price and most of the usage. After the ban you won't be looking at a price of $31,300, and not even $3000, but closer to $300.

Silly rabbit.

People have been saying this nonsense for more than 10 years.

I can prove that even you don't believe it.

Let's make a bet.  You are CONFIDENT that this will happen in the "NEAR FUTURE". I assume that "near future" means less than 2 years?

So, how about a bet of $2000 USD? I bet that the U.S., Canada, Mexico, or any country in the European Union will NOT pass a law before Jan 1, 2023 which demands any jail time or a fine of more than the equivalent of $100 USD for any private citizen solely for the acts of sending, receiving, or holding Bitcoin.

Notes, this doesn't apply to:

• "using Bitcoin to launder illegally acquired cash".  That law already exists.
• "Using Bitcoin in the activities of a Money Service Business without a license"  That law already exists.
• "Failing to report transactions of high value to the appropriate reporting agency" That law already exists.
• "Using Bitcoin in the act of fraud or theft" That law already exists.
• Or any thing else which is already illegal without Bitcoin

This bet specifically applies to a NEW law that applies not to a business or other non-person legal entity but rather to individual citizens.


Your click-bait subject line says that this is a High possibility, so this should be an easy bet for you to win, right?

EDIT: If you accept this bet, I'm happy to digitally sign a statement of agreement to the bet as well as place $2000 worth of bitcoin (or whatever smaller amount you wish if you aren't willing to bet $2000) into escrow with a trusted third-party member of this forum.

Let me ask you this; have the major governments been in the endphase of having their own cryptocurrencies during the last 10 years. Well, no. But they might soon. That's what's make all the difference and why the BTC ban is probably imminent.

Not really. CBDCs will be competitors to stablecoins and traditional payment networks, not Bitcoin. Bitcoin will remain volatile and hard to use, perhaps even still having scalability issues by the time CBDCs will launch, so CBDCs and Bitcoin will have very different users.

If governments wanted to ban Bitcoin because it's a threat to them, they would have done it a long time ago, when it was much easier to do so because there was less adoption and awareness. Sure, authoritarian governments like China and Russia can do it at any time still, but western democracies wouldn't be able to ban Bitcoin without backlash.

It would make much more sense to ban Bitcoin once they have a working cryptocurrency of their own, and that is coming.

Yes.


No? Oh, ok.  Then no.


Might?  I thought you said "IT IS A FACT that these countries are working on cryptocurrencies of their own".  It only takes a few seconds to fork the open source code.  Any team of qualified programmers can then modify that code into yet another alt-coin in a matter of days.  Either it's a "FACT" and therefore happening right now, or you're just spewing nonsense.


Probably?  Or "High possibility"?  Make up your mind, which is it?

Are you accepting my bet or not?  Do you truly believe what you are saying? Or did you read some nonsense somewhere, and now you're using that nonsense to geet your post count up higher for some signature ad campaign?

What a load of bull.

They have a hard time agreeing when they have opposing views. In this case they share the same view of stopping Bitcoin to protect their own national interests and currencies. So I wouldn't hold my breath.

$300 is something, it would still be worth money, it won't go to zero. But I would consider going from 31K to 0.3K getting killed.

I'm not sure. There are conflicting elements here. The higher the price goes, the more seriously governments will consider BTC and potentially legislating against it. But the higher the price goes, the more institutional adoption there is. So the situation is that the more pension funds and other institutional investors buy in and become exposed to BTC, the more the government wants to take action... but they'd be taking action not against the cliched money-laundering bitcoin criminal underworld, but rather against Wall St and friends.
So I don't know. The time to ban a thing is before it becomes a part of the fabric of society, i.e. before it becomes a threat. But governments are notoriously reactive rather than proactive, they are slow to move and pathologically short-termist.
Obviously it could go either way, but I take incoming establishment money as a good sign, and one that makes BTC's long-term survival and success more probable.

Who cares if every government comes out with their centralized coin, there is a major difference, bitcoin is a decentralized currency and it is not even a competition. 


China does have its restrictions, but Japan already legalized bitcoin and they cannot jump from a pro bitcoin country to anti bitcoin because there are businesses that run as well, Europe will not criminalize bitcoin.


I would like to see the price of bitcoin around $1000  :P.

by "major government" you mean Venezuela and India. then yes they had been laying the groundwork for their own cryptocurrency and Venezuela already created their own and was a big failure. they didn't ban bitcoin though, that part is just a FUD that always comes at times like this when the bitcoin market is getting ready to see another big rise. the real "fact" is that people started buying more bitcoin when their government started talking about cryptocurrency of their own!

Oh, a bet? Let me know if there is an actual bet, I can hold it for y'alls.

I love your bet,  :D
and it's really not easy for the country to control us who have lived with bitcoin for a long time, and are trying to ban our bitcoin ownership.

This will not happen, while we are still vigorously moving bitcoins, and we and bitcoiner will agree with you too.
let us see, as thought or just as a sleeping flower ....

Do you have any reference that the government is treating Bitcoin as how they treat gold in the 1930s? I don't think it will ever be the same because they can't cease the crypto that different people have possibly multiple wallets even. It's just unnecessary for them and probably know that they are not going to be able to completely stop it with its technology.

They are basically digitizing fiat, what's the difference now? It's still won't be internationally accepted easily unless those two countries would be in partnership or something. It's mostly like how fiat is being traded but not being directly accepted by the masses.

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I can't wait to watch those kinds of bets happen. Dabs have offered escrow already. Make it official!

Ban it or not government has not full control of Bitcoin pity for them because we can still use it no matter what. If these countries are working on cryptocurrency of their own then there is no reason for them to ban Bitcoin because without it their shitcoin won't work the way they create and want it to be.

And it will certainly continue to do so for the next 10 years, it is simply something that is in the nature of the human mind. Beginners who have no idea about the basics of Bitcoin or anything related to finance in general live in some conspiracy theories all the time.


If the OP is really convinced of their claims then it would be easy money - but I don't think the kids really have $2000 or even 10 times less to bet on something like that.

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CBDC is a reality, but it’s just a digitized fiat and nothing more. Of course governments have mechanisms to harm Bitcoin, but wouldn’t it have been easier if they had done so long before the whole thing became so popular? The genie is out of the bottle and I would love to see who will bring it back.

Governments have been struggling to prohibit the total ban of illicit goods for decades, and most of these goods are even being smuggled and distributed by the people of the government. How sure are you that these same people would be rallying for a ban on bitcoin, especially now that their best buddies--the institutional investors--are already in the game with billions of dollars already dunked in the crypto? They might restrict the usage of bitcoin on some fronts and impose regulations that limits the normal user on what to do with their coins, but full-on ban is most likely not on their list; not now, not ever.

My question is;
If the state and government completely prohibit bitcoin, either the owner, miner or trader will be punished and jailed. How can they find out or trace who owns the address?

Maybe they can find out the owner of the wallet address through centralized exchange transactions that require users to do KYC. But, what if someone sends and receives a certain amount of BTC via a decentralized wallet?

Governments can do as in Russia. There, some officials were ordered to get rid of the storage of cryptocurrency by April 1, after this period, responsibility for its storage will be in effect.
It is possible that states and their governments will try to restrict or even ban the circulation of cryptocurrency. This cannot be ruled out. Their digitized central bank currencies will be issued anyway, as this makes their circulation faster, more convenient and cheaper to maintain. At the same time, stablecoins of states will indeed be used to compete with cryptocurrencies.

Not even remotely likely. It's like saying the US government will ban Fedex and UPS because they are direct competitors to the Postal Service.

Also, Bitcoin is not a direct competitor to nations upgrading their legacy digital money systems to cryptocurrency (CBDC). It is inevitable that nations start issuing their fiat currencies as cryptocurrencies because it is a superior technology. This inevitability was brought about by the invention of Bitcoin. But Bitcoin is very different than CBDC's. In fact CBDC's aren't anything different than the fiat that is already used, it's just a tech upgrade. Why would nations suddenly ban bitcoin just because they gave their own monetary systems a tech upgrade?

So, no, it doesn't matter at all that nations will eventually all upgrade their digital money systems to use cryptocurrency tech. It's not changing anything about fiat itself. Nothing in the bitcoin/fiat relation changes simply because nations upgrade their monetary tech. This does nothing to make it more likely nor less likely that nations will ban bitcoin. It is a non-factor. And Bitcoin is not going away, that much has been obvious for a few years now, so the answer is no, bitcoin is not going away, and free nations have no reason to ban bitcoin, and certainly not just because they gave their own monetary systems an upgrade which in no way changes government's relationship to Bitcoin.

Lol I love how some very very foolish gullible people seem to think if something is banned it disappears. Firstly doing this is beyond unconstitutional even bordering the line of civil disobedience. I can promise you right now I would both reject and fight the government with everything I have if ever they did this. May as well bring back slavery laws. STOP SPREADING FUD!!!

Ok so.... Drug war? Increased the price of drugs and increased the number of users. increased the black market hold and profit for criminals. Great job government.
Ban on gold? People still hold it. There is no way to know who has and who does not hold gold. You don't even have to hold the gold in your own country.

This will never happen and will explode in the government's face.

A ban is just a sily law written in a book it means nothing. If a ban happened as a write this no one will sell anything. In In fact we will all laugh at the government.

Before the government wants to point pictures they should stop corruption that robs the taxpayer.

Ban for what? because they will make their own cryptocurrencies? I highly doubt. There are already existing cryptos which are fiat based but that doesn't seem to affect other cryptos negatively. Things will coexist, I believe. It is more likely to happen that regulation to cryptos will be implemented than for them to just ban the use of this technology. In such way they will be able to tax every transactions, which is their primary concern. I do really think there's no need for total restriction and it does seem for me that they won't. This is just I think an assumption since there's no given supporting details for the claim and, this is just making no sense.

I love it. This is the way to point out the issues with OP's post.

It is very easy to speak in grand generalities but when one has to be specific, and put up real money, it certainly sharpness and forces one to crystallize the position.

It reminds me of the innumerable discussions about "needing bitcoin to expire if not moved for X years".  No one has had a successful fork that incorporates those provisions because they are idiotic.  This sounds similar where a simple request stops the nonsense.

The odds that all the countries will do this is infinitesimal because there is competition.  Would Russia cooperate with China or the US or Europe or Central or South America or Africa or Asia to do this?  No, they want to beggar they neighbor and competition will help keep them semi-honest. (Well, at least somewhat honest with regard to bitcoin,  nothing else.)

Banning will be a shot on their foot, this will be like drugs, cutting off the supply will not be enough but instead will in turn increase the prices overtime. People have a history of resisting oppressive authority, banning bitcoin with the narrative that it does not help with the interest of the state will only spark a problem that does not need to exist in the first place, bitcoin never hurt anybody it's the people that does, don't shoot the messenger as they said. Banning will only make the prices higher and make more people flock to it, introducing the same concept will not work because shitcoins have existed.

No, Bitcoin isn't like heroin, cocaine or speed. If banned price would go down to almost nothing, probably in the hundreds of dollars, not in the thousand's like today. People would not flock to it, they would in fact avoid it.

Before paper currency, people use different method to trade but after become of paper currency so a mechanism was developed and paper currency was regulated. Now, Cryptocurrency is also a new and fast ay of trade without limitation beyond the borders. I think a mechanism can be developed to tackle it in a secure way. There is no chance of killing of bitcoin because of its hold. If we points at crime issue, so people are also doing crime with paper currency also.

I think some major governments are already done it, they can ban Bitcoin if they want but they can't kill it because it was decentralized. The Government of China through its Central Bank has already made a digital Yuan, But my question is how it will compete with BTC when the Digital Yuan is a Stablecoin, CBDC more likely a Stable coin for sure it will only use for payment, etc. unlike BTC it can be used as an investment because it was a store of value. that was my opinion about it.

The governments want's to do away with paper currency. Why, because they can fully track the coming government cryptocurrencies to fully have total social control over all of us, and what we do with our money. Thats why they will also ban Bitcoin.

The ban doesn't have to be a 100% successful, i'm sure they would be happy with 99.99%. And btw, if you face fines and jailtime, would you really use Bitcoin, would you?? If you really think about it, I dont think you would risk that.

How come?? A National digital currency and a decentralized cryptocurrency is Nowhere related! A National digital currency is is as good as cash in your pocket no matter what ever digital convenience it brings!

Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.


There is a possibility that major governments may ban or criminalize the usage of cryptocurrency, especially bitcoin! However it is easier said than done! Cryptocurrency users can quickly move to privacy oriented coins if the need arises. So the enforcement agencies will have to find a needle in the haystack in the most literal sense.

Yes, such a scenario has been always existing. Of course there's such a tendency in the world that lots of governments make different steps towards the tryings to regulate people's assets, especially crypto assets, to make them be in some rules and frames. And may be some day they will fulfill their ideas on some percentage, but ban Bitcoin totally it would be not so easy or not forever. As for BlackRock not so long ago they gave the go-ahead for two of its funds to invest in Bitcoin futures.

I do not concern this as a important issue, although it can affect the adoption of bitcoin. Banning bitcoin can result as many people sell-off this asset. However, the majority of investors who have associated with bitcoin for many year will not leave bitcoin cause of their understanding that bitcoin is such a tool against the centralization created by the government. Mostly, no matter how the government try to trace back anyone using bitcoin, it is hard for them to figure out if ones know how to hide themselves in the decentralization

No. The national crypto will be a digital version of their currencies. Not related to Bitcoin (they are centralized, Bitcoin is decentralized), no competition with Bitcoin.
The actual competitors, those who have to be scared of these moves should be major card companies, Visa and Mastercard, not Bitcoin.

Would be hard to implement the total ban of bitcoin. Let us put it this way, even if the government will create their own crypto, once their constituents learn more about the advantages of dealing with bitcoin over their centralized coin, I believe, some of them will move on to bitcoin. Now, the government will just pave the way for these previously noncrypto users appreciate the benefits of bitcoin over centralized ones. So nope, not gonna see that bitcoin will be banned by the governments. They can't have the full control of its usage.

Hello?

Is this microphone on?

I feel like we've got a bad connection.  Perhaps you were unable to read what I wrote?  Why hasn't this thread died yet?  I think that the OP troll has already proven that he doesn't actually believe what he's saying.  Why is everyone else continuing to play along with his nonsense?

I have been hearing this since a long time. What is the source of your assumption that these countries will ban BTC?
There is no news that support your assumption. On the other hand some governments are planning to regulate cryptos.

I think this will happen but it is not going to be as easy as you think, politicians are for the most part controlled by people with a lot of money and we are now seeing that institutional investors are coming to the market of cryptocurrencies, if enough of them come then they will never allow for bitcoin to be banned, they will allow regulation since that benefits them but never a ban, a ban will only be over the table once an economic crisis comes that devastates fiat currencies, but once that happens people will choose to disobey the law anyway as the only other alternative is to lose all your wealth you have worked so hard to obtain for most of your life.

Yet another noob know it all. You must have some special inside knowledge to know these things. I don't care if they ban it. There tons of other people that do as well. In fact, most users would ignore the ban and it would fall apart like the joke it is. Here we have "toll booths" where there shouldn't be. Legally you must pay but only like 2% of the people actually pay. My point is after a certain amount of people refuse to do what the government want there is not much they can do. I mean will they arrest us all? They know they need us.

You are spreading FUDs as you have no strong reasons. Also, I don't know why you trump up this topic without any data or valid sources to support your reasons. Anyway, I don't really understand the main point of this topic. If you are talking about the policy of the USA, China, or other big countries in the world, it is always the same that they will fight financial crimes. But the financial crime doesn't specifically come from Bitcoin, instead Bitcoin brings new hope for an income source during the corona crisis. So, how can the governments around the world ban Bitcoin if it is needed by all people?

killed completly but have a value of 1k ? but we always look forward for that moment or when btc hit 1k , not because we believe on what you are saying or we hate btc and wish btc to die but we love to take advantage of what btc has to offer  .
governments or countries creating their own cryptos already happened before , where you at that time ? but look at btc now , btc is unaffected and growing healthy .

They can ban all they want but the fact the stopping or getting rid of it completely wont really be happening thats why some of them do accept it rather than on banning it.

It wont really change a thing because majority of them will be seeing bitcoin as a threat and some of them will be seeing it as a good alternative or add up.
We had already seen circumstances on countries do try to ban it but on what effect? It doesnt change a thing because demand is still consistent and able to
survive for a decade already in spite of those lots of issues that had been thrown out.

For big countries, Bitcoin does have the risk of affecting their national currencies and financial markets, but Bitcoin is also a means for people in small countries to protect their assets. If something you predict does happen, the price of Bitcoin may fall. , But it won’t fall much.

I don't think it's gonna happen. At best, the government will inpose tax on bitcoin, which will force the holders to sell, instead of labelling it as crime. :'(

@A62662 I call that bet too. Any amount.

Governments of all countries will have their own encrypted digital currency, Bitcoin will become their competitor, or some governments will rely on Bitcoin, of course, it will be some small countries

very low. the crypto community is not criminals, and they are not doing anything illegal. maybe there will be a ban, but to impose the punishment only for the holder, that is a mistake. there will be many who protest about this issue. after all, crypto provides benefits for all, and if you look at it, isn't it more profitable for the government, if crypto / bitcoin is legalized but on the condition that they are taxed. there will be a lot of income they will get considering the marketcap for crypto is huge.

Oh come on dude. Japan was the first country to legalise the crypto curreny use in their country and also world's leading OTC provider of the crypto's.
https://i.ibb.co/B448jgQ/Screenshot-2021-01-28-10-16-38.png (https://ibb.co/RhhLPCs)

I dont think if they saw a future in it then they would go rogue against it anytime soon.
More than 1000 bitcoin ATM's around the USA and Europe present just because it's free to trade, I mean without any restrictions.
Worlds largest Mining farm is in China, Japan and USA so bite me on that if they will close down suddenly. (Billion dollars!)


This is definitely not happening anytime soon. The prices won't fall because look at the market cap dude. It's huge and took almost decades of time to build it up. It can't go down in blink of an eye.

Moreover it will keep building more and more and soon hitting trillion dollar industry. You killing of the price? Not happening!!

The governments would like to ban cryptocurrency, but it is not possible in a practical way. It is just not possible to ban an asset that is decentralized. At the most, they can go after centralized businesses (such as exchanges, gambling sites, P2P platforms) that are linked to cryptocurrency. Users may be able to transact BTC with each other, but they may face issues in converting their coins to fiat currency (or vice versa).

Just like gold, governments make it illegal then confiscated it. This is not new almost from the beginning the federal reserve is eyeing bitcoin and the governments seeks regulation and laws to dump it while injecting their paper money to bitcoin. What a tricksters.

So you believe that the US government is the government of the world? It was the US government that did that. Not the world. And I guess you are talking about the executive order signed by Roosevelt, right? Yeah that was shit. Citizens were forced to give up their golds. The order was active for like maybe 40 years.
But I doubt that is going to be a case with bitcoin. Crypto currencies are decentralized. Hence they have no central authority to ban. I mean, no one can stop something that is P2P and decentralized. Look at torrents. Were they able to stop those? Nope.

What I mean by that is, the prices will go up because even if it is illegal, the people will want to get a piece of bitcoin and the people that are going to sell it will definitely be marking up the prices which will in turn artificially pumping up the prices., if the demand increases then the prices will go up, even if there is a lot of bitcoin in supply. Banning bitcoin would not mean that the prices will go down, its not like everyone will suddenly sell their coins because it is prohibited to even own one. You should learn the economics of illegal drugs as to why they have high(no pun intended) prices because that is what is going to happen when they ban altogether bitcoin. The best solution is to take care of the demand first, don't fight the wave instead go with the wave, apply regulations that are quid pro quo for both parties.

No bets so far. Enough said.

China is the only major government that banned Bitcoin because it is both a Communist and Capitalist country. The government cannot control Bitcoin which resulted into banning them so I guess not every country would follow China because other countries are not that scared since most users are just using it as another income generator.

However, this possibility can always happen because of the wrongdoings that can happen within this industry and once it caters enough bad reputation.

As far as I know this ban in China means nothing because there are people there dealing with crypto currency daily and even though we hear about it since a long time ago there are also theories China is playing with bitcoin's price, what is contraditory with the baniment information.
I think there isn't any positive impact for governments in banning bitcoin. Why would they refuse income from crypto investors, consequently sending these people and their respective incomes to another countries which are friendly to bitcoin?

Major governments can compete with bitcoin by creating their own cryptocurrency since banning bitcoin would be a waste of time unlike if they can create their own cryptocurrency, oppose bitcoin and use their own cryptocurrency for to compete with other major governments who made also their own cryptocurrency.

OP, I'm waiting for an answer ... I say 'no major government will BAN Bitcoin in the near future.' Any amount. Escrow somebody?

They may Banned Bitcoin but they will never stop this from spreading so I think it's equal . there are many government also that will consider the use of this coin and technology so i am not that worried at all.

and besides with the market movement now ? maybe considering this in the next time and not now.

 ;D

Yes, they will be seeing bitcoin as a competitor. Most of them have already created their own cryptocurrencies or tried creating it but it never worked. Chinese digital Yuan was being hyped for a long time and now nobody talks about it, we can’t even remember whether that exists or not. That’s because nobody is ready to make use of any of these, people just prefer the normal decentralized cryptocurrencies that we are using like bitcoin, and ETH, they are not interested the digital coins that these governments wants to offer. They should rest please.

Ok I think we have debated on this issue severally and have come to a conclusion that it doesn't really matter what they (the government) come up with because they'll fail woefully. They tried previously to create fud and cause panic among the investors and discouraged them form investing in the technology therefore bringing the coin down to it doom but all their attempts were in vain since it only had a short term effects on the may.

The government are secretly buying bitcoin just as the institutional investors were hiding before they made their holding public. The government know the technology is above their reach for all their selfish tricks. Don't be surprised if to know they must have go through all their books just to find something worthy of discredting the currency but all they can come up with is, 'it encourage criminal activities' meanwhile their fiats scams has been doing that for years now

There's a high possibility of the government finally joining the party instead of fighting it, knowing they are on the losing side already. Just my thoughts though.

Since they can't stop bitcoin, I don't think they will be banning it in the future. To be able to gain something from it, obviously, they will be making a law to tax it in the future. From the exchange or maybe in any form of way but I hope it still continue what it is right now. I don't see any taxation to crypto currencies to be effective as people can just evade it as long as they wanted it.

If they can't regulate it or profit from it, the government will surely ban it. That's just the case for most of the things they have tried to control in the past but were unable to make use of, bitcoin might fall to the same fate but the good thing about is that banning bitcoin might cause more people to leave the country which is not good for economy. So they might as well just let it be. Exactly, taxation looks like a good plan for them, but we can't be too sure people will just let this slide especially when other countries are able to invest in crypto scot-free, plus the huge transaction fees they will still have to pay.

A scenario as dramatic as OP paints it I don't think it's possible. The crypto community, social groups, and people in general are armed with knowledge, ideals, and truth. It is what we have noticed in recent days. GameStop was the great trigger that centralism demonstrated by trying to squeeze its tentacles and oppress the minority. But there is freedom and free thoughts that quickly reacted.

A brief description of the ideals that we defend by the most recent facts. Take a look at this tweet.

https://twitter.com/Dooowta/status/1355518304446627853?s=19 (https://twitter.com/Dooowta/status/1355518304446627853?s=19)

This issue has been discussed many times, but there is no one especially who has been known how crypto currency work they didn't afraid of that. The regulation made by government only applies physically, we do have many way to still use crypto currency in any form.

Indeed, they have a right to make regulation but they have no right to manage the utilization. You can imagine how difficult they are if they ban crypto currency because in the internet field we have many ways to passed the ban. We still can use VPN and another way to access an exchange as an example. So as, the government decide to make regulation will ban crypto currency is a useless way.

Well, you have a point about this.
How they can regulate bitcoin that the fact that this has a decentralized nature and no one under control of this currency. Technically, they won't able to ban or just wasting their time because people still can use bitcoin in different tools use without even knowing if that is prohibited in your place. There are too many countries that had attempt to ban bitcoin, China and Indonesia as far as I remember but until now people keep accumulating bitcoin hoping to have again profit if they will invest in it. If banning is the purpose, I don't know how it will work but even shutdowns power source electricity bitcoin can still run without power.

India may be the first nation to ban "holding" of cryptocurrency (China only has a banking ban). A bill, which makes holding, trading or transaction of cryptocurrency a criminal offense (punishable by up to 10 years in jail) will be introduced next month (as per the parliamentary notes). Don't ask me how they are going to implement this stupid ban, but for the 5 million plus cryptocurrency users in India, things just got a lot more difficult. 

I believe several countries are now in the process of creating their own cryptocurrency, but competing with Bitcoin is likely to fail. Moreover,
killing Bitcoin will never happen, because many parties are trying to kill Bitcoin in various ways. But it all ended in failure, and I am also optimistic
that Bitcoin will not drop to below $ 1000 again.

There's is no doubt that the governments are looking for ways to reduce the use of cryptocurrencies as it deters their control of financial system relating to individuals in their countries as most people and new entrepreneurs keep their excess funds in digital assets. This reduces the money in bank that can be given out in loans to new investors in physical goods or services provision.
Another thing is that cryptocurrency ensures funding are sent without being traced to a known individual.
Tracing blockchain transactions is possible and even very easy but you can't trace it to a known individual. Funds move across borders without government knowing what they're meant for. These are things governments don't want as the funds might be moving around for criminal activities.

And on criminalising the usage of crypto might not be possible considering the fact that majority of world powerful are now cryptocurrency holders or users plus this is 2021, technology which improves world activities might not be at all easy to clamp down.

Since they can't stop bitcoin, I don't figure they will boycott it later on. To have the option to acquire something from it, clearly, they will make a law to burden it later on. From the trade or perhaps in any type of the way, however, I trust it actually proceeds with what it is at this moment. I don't perceive any tax collection on cryptocurrencies to be successful as individuals can simply avoid it as long as they needed it.

Im sure that after mass cbdc adoption gov will start to ban crypto. And i really hope that this will not kill the whole market. Overwise, my live savings in ownr wallet will become totally useless

BTC is an asset which will always dominate in Crypto market the reason behind this is people are crazy on this coin because of popularity and demand.

I agree government has the rights to ban the coin but that could be a wrong decision in my opinion the only thing we need to look is how convenient and secure is to the public and if they are ready to take their own risk then why need to ban a popular coin?

Bitcoin has an high value than other currency  and it can use by all people because of the lacking of authority. Government would ban bitcoin if the criminals using it on terrorising or it will be a threat to the current economy of their country. It all depends o how it will use either bad or good it is on hand of the person

Even though every country eventually has their own national cryptocurrency, it will not be able to compete with Bitcoin. Especially to kill Bitcoin,
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.

There will be a very noticeable impact on the market, if the governments try to ban Bitcoin. Don't forget the fact that the recent bull run was triggered by institutional adoption of Bitcoin, especially from PayPal. If the government imposes any sort of restriction, then these institutions are going to pull out immediately, resulting in a bloodbath at the market. Bitcoin will exist, but the global adoption will be severely affected. 

Bitcoin and other crypto might be affected with any single fud or any single news from the government if they want to banned it in their country but as we all know crypto runs thru online I think it will take so many months or years before they can fully implement it, I don't know how do they stop people from using it, especially now many companies and even well known personalities are into bitcoin now such as Elon, so I don't think they will ban it, possibility is low.

The price of bitcoin used to move according to the news and FUD in the past but in the past several months or over a year it is not responding to these manipulation, yes the tweet from Elon Musk made a huge difference as the price pumped for a while but that did not last long. The way a government will influence the market is by banning the exchanges running in their country even if they want to restrict it.

Indeed the government will oppose with the use of bitcoin or other cryptocurrency considering the fact that it is all decentralized meaning they have no control over it. Taxes are also not included when you are transacting with crypto, only fees are there which shows that it is not beneficial for the government too. I think they are trying to restrict or lessen the use of it through making their own digital currency wherein at the end of the day, they will still have control over it. We still can't predict the future, anything can still happen actually but let us not waste opportunity while we are still allowed to invest in crypto.

If you don't see a clear difference between 1930 and 2021, then I don't know what to say. They banned not only gold but Alcohol distillation, steroids, 90ths drugs, etc. But what? Gold is legal again, alcohol is legal again and just visit the Campus of any University, you'll be amazed when you see what happens there. Also, every bodybuilder and fitness influencers (some exceptions ofc) use steroids (while it's illegal).

Nevermind, Bitcoin isn't their competitor and there is no need to ban it. Plus, consider that there are a lot of businesses built around Bitcoin and cryptocurrencies, you can't just abandon them when you wish.

It has started. Indian Government already presenting bill to ban crypto in upcoming session of parliament due in February. This will be a big set back for global and Indian crypto community.

I know governments have been planning to have their own crypto currency but I don't think they can ban bitcoin as they don't have control over it and the maximum they can threaten the traders to instill fear which will surely send the Bitcoin market crashing but that would not be the end as user will find an alternative to bypass the government ban and bitcoin will be back to normal. We cannot blame bitcoin for the crimes you have mentioned because those crimes used to take place before the emergence of Bitcoin.

However, on the other hand, the government also realizes that bitcoin has great potential to overcome many problems in the conventional financial system. with cryptocurrency, transactions become faster, not limited by space and time, but the government cannot fully control and supervise it, which is why in some countries the use of crypto is only legal for investment and trading commodities.

They can only limit the use in terms of not allowing physical stores or establishment to use or accept it but they cannot monitor it that can still lead to be use it often, there are also too many ways now to use it online even they will limit many will find ways. They might create their own cryptocurrency but the sense of being decentralized will not be applied in it which their people might not be interested to use with.

Even at the present time, government can already to restrict usage of not just Bitcoin but also other cryptocurrencies within their country if they would like too as long as they will have the reason to do such thing. There is really no need for their own digital or crypto currency to be created before they make such higher restriction or banning because they could possibly do such in any time they would want to make it up such decision. The point is that it is impossible for Bitcoin to loss value in that instant and for the totality of the majority of the governments existing in the world to restrict or ban Bitcoin usage for many have already been engaging into it. But we are not eliminating the possibility that it might happen, still we do not know what could happen so better just focus on the present rather than thinking of such thing that seems to be far to happen yet.

Most governments want to control financial situations of its people. They are putting taxes on everything, so there is no financial freedom. With bitcoin they can't do it, so they are against it.  As bitcoin is anonymous, they can't properly put taxes and there are other difficulties. Many banks and other financial institutions have been putting pressure on governments to ban bitcoin. In such situations, there is high possibility that they would put ban on bitcoin. But, a lot of people don't want their governments to control their financial situations, so they fully support bitcoin and their number is growing day by day. The way bitcoin has become so much popular in recent times that some governments have been contemplating of introducing their own cryptocurrency. So, the day is not far away, when we can see government issued crypto.

The governments must just accept the natural evolution of Crypto currencies, if they start "banning" Crypto currencies. The first thing that will happen after a ban, would be the "new" revolution of Crypto currencies. The developers will be motivated to create more decentralized market places and exchanges and this whole experiment will go underground.

What will the impact be of this "revolution" for these governments? Answer : All those transactions will not be taxed and a whole new secondary economy will be created that are free from government control and manipulation.  ;)

So what do you think? The government guys will just sit back and watch this, while their revenue intake dips? The governments need tax revenue to survive and if they think that cryptocurrency is being used for tax evasion, they will come down really hard. The idea of "decentralized marketplace" is good in theory. But it needs to be seen whether it can be implemented in real or not. For my part, I am not in favor of avoiding taxes by using cryptocurrency. Let's pay the tax that is due and use cryptocurrency at the same time. 

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I think the Bitcoin ban will only turn into a myth in the near future, only a hermit country will do that for they don’t understand the technology behind it. Banks don’t need to fear Bitcoin, its not competing against the fiat rather its the best alternative investment to gold.

They can certainly try, however it is futile and will only result in what is called a "prisoner's dilemma". They ban but others won't. There's too much already by institutions at this point and it's just going to get messy.

From what I can see, the main competition right now is between cryptocurrency and stocks/mutual funds. And that is the reason why some of the governments are feeling uneasy right now. They feel that if cryptocurrency provides a better return compared to the stocks, then people will start moving their money from the stock market to the cryptocurrency market. This will have deep implications, such as reduced tax revenue, rise in unemployment, weakening of the national currency.etc. If the competition was between cryptocurrency and gold, then the governments won't be bothered to a great deal.

Any Proofs about this ? While other countries think that Bitcoin is a competitor of their currency , other countries see this differently so Please be guided on that matter.
Well Don't make US as an Example because of course They will always Look for Dollar welfare but does the situation really favors them now?
|Lol Japan? Europe ? China? maybe they will not support Bitcoin But they will support other coin that in the end will favor bitcoin still.

The Indian government is also planning to ban crypto, the problem here is how will you enforce the ban. Cryptocurrency is an Internet-based currency if you want to ban it you have to ban the internet or you will have to create a system to keep track of all transactions on the Internet. How will the second most populated country do it, is the question?

The best option is to either regulate it as banning is not possible in this age of technology.

They could definitely ban it if it confronts their interest. Look at India, the moment they about to release their own version of digital coin issued by the government or central bank they outright ban bitcoin and punish those bitcoin users.
The government will always try to get rid of anything that blocked its interest and more specifically in pursue of money and resources. But one thing people need to remember, banning bitcoin is one thing but enforcing the law and detecting the users are another thing.
I bet they need to allocate huge resources if they truly want to impose the law of bitcoin banning.

It could be.

And bitcoin can be use for illegal transaction like -> terrorism, money laundering, tax evasion, and other illegal and subversive activity all benefit from the ability to move money in untraceable ways.

Agreeing with your point of view, blocking an object online is really too difficult in the technology age when technology allows us to have too easy access to an object through many different methods even when the government wants to prevent, except for this point, government laws only make people more curious about this product and technology, India is a very typical country when people know more about bitcoin when the government tries to get rid of it. Strengthen and establish relationships with Bitcoin and create a team of highly specialized work in the near future with Bitcoin is something to do with the country wise

If undeveloped countries like India ban Bitcoin, it doesn't mean that developed countries will follow.

The thing is that more forward-looking and broadminded governments are more likely to attempt to adopt Bitcoin and use it for their own good.

Many countries can ban Bitcoin but I don't think bitcoin will be killed completely. Bitcoin will be there with good value. Now I don't see any reason that bitcoin will drop to $1000 value. The scenario you said only speculation on the other hand we can expect more countries will make it legal. If the countries make their own cryptocurrencies that would be like Tether with fixed value.

I don't think Bitcoin would be banned that bad.

There are a lot of countries that like the idea of cryptocurrencies. The convenience and speed it offers would really be a great asset for the future of finance and transactions. I don't think they will be worried of how Bitcoin will be developed in the future, I think they will be more worried about how will they make their fiat better.

While they may try I believe they'd have less chance than to ban the internet. Unlike Bitcoin the internet is pretty centralized, in the hands of just a few individuals and companies (ISP's, Website Hosts, domain registrations, etc). They might get somewhere shaking out the weak hands in regards to acquiring new Bitcoin by closing the fiat onramps and controlling the exchanges - however they have no way of knowing who holds Bitcoin on a personal wallet, and they can't prevent people from sending / exchanging and getting Bitcoin if they deal with each other directly. Any attempt to seriously ban Bitcoin will only drag it underground more.

Bullsh**
*can be used* for nefarious purposes, yes however, Bitcoin uses a public open ledger with all transactions easily seen and tracked between addresses - hardly 'untraceable'. Now some altcoins - that is a different story.

No matter what coin is used sooner or later conversion to/from fiat WILL occur which brings up the very large elephant in the room which is the fact that fiat is the 'root of all evil' and prime currency used for illicit activities.

let's speculate what false flag will happen in order for crackdown to occur 8)

Governments are likely to start by regulating the circulation of bitcoin as the share of cryptocurrencies increases in the financial sector of the global economy. We remember that the leaders of the G7 countries decided that cryptocurrency does not pose a threat to global financial stability. If this balance is upset due to the increase in the total capitalization of the cryptocurrency, then the reaction of states may be different. Of course, no one will stop the Internet, however, it is quite possible to declare certain types of cryptocurrencies, including bitcoin, a pose of law. At the same time, they can oblige the exchanges not to trade these types of cryptocurrencies, as we have already seen in the example of ripple in the USA, and also prohibit those exchanges that do not comply with this requirement. Also, certain sites that are associated with cryptocurrency will be banned. If strict liability is established for these violations, up to criminal, the cryptocurrency will be dealt a serious blow. I am not saying that this will happen, this is one of the possible scenarios for the development of events.

As they already said, users/investors will not shift to another digital currency just because they've made or adapt the system of cryptocurrency. It's very impossible for them to bank decentralized money since they don't have control over it we have multiple ways of accessing it. Killed? It is too much.

A cryptocurrency even a shitcoin can't be killed, they can lose value but can't be killed as they were created and already existed in the world of crypto. Imagine, a shitcoin still exists in the blockchain, what more in bitcoin? thousands of users, a huge community, and a lot of investors.

if governments had intended to ban bitcoin they would have done so a year ago where bitcoin was less accepted. today big companies and big investors are in this bitcoin market and rich people would not invest in something that has no guarantee. look at paypal, they’re doing well since they introduced bitcoin


It is true, and India is similar to China and Russia, these countries are far from democracy and equality between their people and freedom. but there are many countries where bitcoin is very welcome

Everything would be divided because not all would really be going on the same direction and it had already been proved out since there are already governments do already recognized nor had
implemented on receiving their pays via Bitcoin which do signifies that there is really still had some chance for it to be adopted without any problems.

Government doesnt really like decentralization because that would really be removing all of things into their grasp thats why negative and criticisms arent really something
new that you would really see around.

It doesnt matter on what would be their measures because the demand doesnt really limit out nor they would able to stop bitcoin existence even if they do
go fully against with it.