Bitcoin and the State

[Kakmakr]

When the state ban Bitcoin, they effectively ban all Crypto currencies, and all these banks and other financial institutions working on Blockchain technologies, will be f$%ed too. The state or governments of the world rely on tax income, and the economy generate that income. Bitcoin is a new technology with lots of opportunities for new innovative job opportunities.

If they ban Bitcoin or any other Crypto currency, they will shut down a huge opportunity to create extra jobs and also to generate extra state taxes. ^hmmmmm^

[pooya87]

Hi everybody,
Bitcoin has some marketcap, but if it gains traction it will compete with the all-powerful state with it's fiat currency?
If countries (usa, canada,) and group of countries (EU) ban the usage of BTC, what will be the effect in price?
Thanks!

it will be a very long time for bitcoin to reach a stage that it can even begin to threaten fiat currencies on a big scale so governments start to worry!
right now we have to conqure the internet first then move on to offline shops.

besides no one can prohibit us from using bitcoin ever!

[dryandry]

try collect bitcoin as many as you can and cash it to your local currency
thats the way safer to use bitcoin if ur state will ban bitcoin in your country

[davis196]

Hi everybody,
Bitcoin has some marketcap, but if it gains traction it will compete with the all-powerful state with it's fiat currency?
If countries (usa, canada,) and group of countries (EU) ban the usage of BTC, what will be the effect in price?
Thanks!

Bitcoin is still too small to compete against the big fiat currencies.

This is good because if bitcoin becomes big enough, the governments and central banks might try

to destroy it.If the big countries ban bitcoin the price will go down.

[Herbert2020]

Hi everybody,
Bitcoin has some marketcap, but if it gains traction it will compete with the all-powerful state with it's fiat currency?
If countries (usa, canada,) and group of countries (EU) ban the usage of BTC, what will be the effect in price?
Thanks!

well, if that happens surely there will be a lot of drama and price will also surely take a hit especially if bitcoin is banned all over the USA since there area lot of users from there but two things are here to be considered. bitcoin is being used all over the world and not all countries are going to ban it so it will continue being used and also no government can ban individuals from using bitcoin as they can always use it with their own wallets and cold storages.

[cryptme]

try collect bitcoin as many as you can and cash it to your local currency
thats the way safer to use bitcoin if ur state will ban bitcoin in your country

I my country the state given pension funds will have (and probably a lot of states will be that way) critical problems around 2040-2050.
Private funds can also default and I have no trust in the state to guarantee those funds.
So i think putting away a part of my earnings in bitcoin is a wise thing. Is this sane or what? I mean planning for 2040 bitcoin...

[virasog]

I don't think that the controls that the state will place or try to place on Bitcoin and Crypto will be anywhere near the level of what is coming with other types of currencies, especially using things like Paypal, Google and iPay at the register.

[Reid]

Hi everybody,
Bitcoin has some marketcap, but if it gains traction it will compete with the all-powerful state with it's fiat currency?
If countries (usa, canada,) and group of countries (EU) ban the usage of BTC, what will be the effect in price?
Thanks!

It will depend on the height of the ban. If it is just usage in their country then there wont be much effect but if it is the exchange from bitcoin to fiat and vice versa then there would be some chaos. Imagine you living in that country who loves bitcoin so much you cant do a thing to join the society with the faster way of esrning money.

[severaldetails]

I don't think that there will be some kind of ban in the near future.
When you look at the market capitalization of bitcoin, it's not even 10 billions. And that in the whole world.
I am relatively sure the industry countries have bigger fish to fry than to worry about this, in their eyes small amount.
In a few years, if biton really goes mainstrem and the value multiplies as some here predict, the situation could be different.

[bitbunnny]

As far as I know Europian union is not planing to ban the Bitcoin. On contrary there are some intentions to make some common regulations to determine Bitcoin status within the EU countries. USA and Canada are also to democratic and open minded states to make such ban. And they don't consider Bitcoin to be a threath to their own currencies.

[rinhunter]

Of course have an effect on prices, because in the USA, Canada and Europe had many bitcoin users if bitcoin banned on there, a lot of people sell BTC and it makes the price of Bitcoin dropped.
But I'm sure the government there was very wise in making decisions.

[Catmony]

Price could be effected but it will be still hard to predict how much it will be effected. But as banning bitcoin is not easy task as well as now many millionaires from eu, usa etc are trading bitcoin actively which will even force governments to keep supporting bitcoin.

[clickerz]

As far as I know Europian union is not planing to ban the Bitcoin. On contrary there are some intentions to make some common regulations to determine Bitcoin status within the EU countries. USA and Canada are also to democratic and open minded states to make such ban. And they don't consider Bitcoin to be a threath to their own currencies.

I think to regulate bitcoin is what the states or other countries are planning right now.

They cant stop bitcoin, only to regulate or tax it  or recognizing it as a money as  a way the government to get hold of this currency. I think other state already recognized bitcoin as cash some are not considering it as money .

I Think the Link below can help.

Legality of bitcoin by country

[Sweetbtc]

As far as I know Europian union is not planing to ban the Bitcoin. On contrary there are some intentions to make some common regulations to determine Bitcoin status within the EU countries. USA and Canada are also to democratic and open minded states to make such ban. And they don't consider Bitcoin to be a threath to their own currencies.

They are already tracking and watching everything. All that using Bitcoin can do is slow that and maybe prevent
some tracking.

[densuj]

Hi everybody,
Bitcoin has some marketcap, but if it gains traction it will compete with the all-powerful state with it's fiat currency?
If countries (usa, canada,) and group of countries (EU) ban the usage of BTC, what will be the effect in price?
Thanks!

If bitcoins growing up and there are many people who use it, it will become rival of fiat currencies because they can not control the bitcoin amount and if the countries ban the usage of bitcoin. The price will be going down, but doesn't mean bitcoin is dead, bitcoin be banned by countries, it has happened but the bitcoins was survive until right now.

[coynedterm]

i think it will not happened because some of these countries are official user of bitcoin . and if it would to retard the use of bitcoin in these bulk user bitvoin countries than the bitcoin price will fall diwn rapidly .

[xuan87]

if a lot of people know bitcoin i think they will prefer to use bitcoin, and within the more user using bitcoin someday it can become a threat to fiat, but actually bitcoin will never beat fiat, but if the government want to take precaution maybe the government will bring down bitcoin, but i think even its being bring down bitcoin will still survive

[gilangIDR]

I think when many countries prohibit the bitcoin prices will decline. but look at the fact that the current bitcoin prices continue to rise. bitcoin developments in various countries is very fast.

[countryfree]

I'm sure that BTC will compete with government's currency at some point, just like it competes with fiat currency. Note that we may see a government-invented cryptocurrency some day, to compete with BTC.

[Sweetbtc]

As far as I know Europian union is not planing to ban the Bitcoin. On contrary there are some intentions to make some common regulations to determine Bitcoin status within the EU countries. USA and Canada are also to democratic and open minded states to make such ban. And they don't consider Bitcoin to be a threath to their own currencies.

They are already tracking and watching everything. All that using Bitcoin can do is slow that and maybe prevent
some tracking.

But the PC's that you buy the Bitcoins on are being tracked too, so in the end, it is nothing more than us stepping up our end of the attack against controls and they will step things up and back and forth until the end of time.