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Author Topic: Bitcoin will be banned ??  (Read 3826 times)
Envrin
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November 05, 2015, 03:36:29 AM
 #21

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“No government will ever support a virtual currency that goes around borders and doesn’t have the same controls. It’s not going to happen.”

Well, good thing bitcoin doesn't need support from governments then. Smiley

EDIT:  I smell fear and jealously of the unknown.

Besides, doesn't he know what's already happened?  Nearly every government in the world has already setup a committee to investigate bitcoin, and ways to regulate it.  In the majority of cases, it resulted in a shoulder shrug, and nothing was done.  After looking into it, they realized it's impossible to regulate.  They can regulate the fiat transactions within exchanges I guess, but that's about it.
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November 05, 2015, 04:36:55 AM
 #22

The way i see it, all governments can do is to slow down bitcoin's price with bad regulations and bans, but when it comes down to shutting bitcoin down - they are defenceless.
I usually just ignore every statement people who are bias make; it's only natural that they are trying to fight bitcoin off, but they will fail in doing so either way.
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November 05, 2015, 04:46:52 AM
 #23

The way i see it, all governments can do is to slow down bitcoin's price with bad regulations and bans, but when it comes down to shutting bitcoin down - they are defenceless.
I usually just ignore every statement people who are bias make; it's only natural that they are trying to fight bitcoin off, but they will fail in doing so either way.
I wouldn't call government defenseless, they can make our lives hell. Maybe not destroy bitcoin completely but ostracize it so much that we would be better without it.
Simple regulations to bitcoin business will be enough to make bitcoin really hard to use.
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November 05, 2015, 05:01:16 AM
 #24

The way i see it, all governments can do is to slow down bitcoin's price with bad regulations and bans, but when it comes down to shutting bitcoin down - they are defenceless.
I usually just ignore every statement people who are bias make; it's only natural that they are trying to fight bitcoin off, but they will fail in doing so either way.
I wouldn't call government defenseless, they can make our lives hell. Maybe not destroy bitcoin completely but ostracize it so much that we would be better without it.
Simple regulations to bitcoin business will be enough to make bitcoin really hard to use.

Yea i wouldn't call it defenseless either, lets say more of skeptical about what it could offer then and who will become the main holders of bitcoin, I'm sure the government could buy out bitcoin at a 100 billion marketcap if they want to just try and hold power over it.
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November 05, 2015, 05:16:14 AM
 #25

Bitcoin is completely out of reach from government act. No government can directly ban the bitcoin. They may ban only the fiat converting services. Nothing else would be possible for any government as bitcoin is a decentralized it is not possible to shut down all the computers and Internet.
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November 05, 2015, 05:29:03 AM
 #26

This scenario is not impossible, and we have seen some governments pushing back against it, but the reality is, Bitcoin opened up a whole new global financial opportunity and it kept up with the changing needs of the people. We will see a lot more from this Blockchain type technologies doing the rounds.

Bitcoin will get regulated a lot more and it will fill a need in the financial world, but with time, and if it does not change to become government friendly, it will be replaced with a Blockchain replacement that adapted to the government needs. 

christycalhoun
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November 05, 2015, 05:51:15 AM
 #27

Bitcoin is completely out of reach from government act. No government can directly ban the bitcoin. They may ban only the fiat converting services. Nothing else would be possible for any government as bitcoin is a decentralized it is not possible to shut down all the computers and Internet.
Yep that is totally true. People will still do cash transactions via localbitcoins in countries that have banned bitcoins.

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November 05, 2015, 06:31:04 AM
 #28

Well I agree with what he's saying, I've said it myself a long time ago. If Bitcoin continues to try and be a two-faced rebel that uses existing infrastructures to proliferate while saying no to government control, it runs the risk of being stomped out. Bitcoin needs to make some concessions at some point, when it comes to regulations, if it is to assume a permanent position within the world economy.
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November 05, 2015, 07:13:02 AM
 #29

If the bitcoin is banned in one country, but flourishes in another country, gives many benefits there. The country becomes more efficient and people liver a better life. The bitcoin will be unbanned in the first country.
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November 05, 2015, 07:36:26 AM
 #30

Bitcoins despite of being secure and good are banned in few countries and declared illegal. In taiwan, recently bitcoins were banned and their use was declared illegal. The reasons behind it is that people are using it for gambling, and kidnapping and ransom asking to pay huge amounts in bitcoins. As there's no official community to look after bitcoins. Countries don't have any other option but to ban bitcoins.
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November 05, 2015, 07:52:32 AM
 #31

Or so says Jamie Dimon. He seems pretty sure of himself too. What are your thoughts

http://fortune.com/2015/11/04/jamie-dimon-virtual-currency-bitcoin/

The chances of other countries following the banning is probably pretty high. Does that matter? Nope that doesn't matter the people in that country who used it before will continue to use it there is not much a ban will do for pre existing bitcoiner but will be a shame for new blood. There will be more and more regulation if nothing else.


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erickimani
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November 05, 2015, 10:12:52 AM
 #32

Bitcoin can not be banned directly but they will definitely find a way to convince people to loose their trust in bitcoins. also if you are using bitcoins understand that it is an investment which can either appreciate in value or depreciate. It is not 100% safe but all in all we risk every day.
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November 05, 2015, 11:33:10 AM
 #33

As bitcoinsatan said above, the only way a ban would have a real impact is if every country banned it simultaneously (not likely) but a US,EU,and china ban would certainly hurt.
Could someone elaborate on his plan to use the blockchain tech with USD. I presume he means a private centralised blockchain set up between the worlds banks.
On a side note 90% of the coverage on the media is more positive and mature this time compared to the last surge in 2013 when we had to listen to ponzi scheme accusations etc (although some threw in the MMM ponzi scheme as a reason for this surge)
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November 10, 2015, 09:19:58 AM
 #34

Bitcoin people, stand strong in your beliefs and remember your only enemy is the accuser that offers no workable, constructive solution or dialog.

Also without any shame (maybe a little Roll Eyes ) I am going to selfishly plug my two videos about Bitcoin and request you to share them if you can  Kiss
testing my luck ? please tell me if anyone think that I am breaking any guidelines by doing so ?

Video 1) A Bitcoiner's paradise - there is no way back now ! Bitcoin freedom is here.
https://www.youtube.com/watch?v=0DpAieJgm00

Video 2) What if Bitcoin is made illegal ? Bitcoin people - To succeed we must reject the illuminati and freemasons !
https://www.youtube.com/watch?v=vfq2WNgxInQ

Stay cool friends
Argonne
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November 10, 2015, 07:40:31 PM
 #35

Bitcoin is a commodity in USA, it is also treated as a property by IRS. Bitcoin is not subject to VAT as it is treated as currency in Europe.
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November 10, 2015, 08:29:08 PM
 #36

Or so says Jamie Dimon. He seems pretty sure of himself too. What are your thoughts

http://fortune.com/2015/11/04/jamie-dimon-virtual-currency-bitcoin/

JP is a total prick he hasnt got a clue what he is on about and all he wants to do is try destroying something he has no idea of and how it is improving country's and people an business as a collective. Good luck to stopping it even it is already banned in some places but have removed its restriction soon after and ones where it is banned still get access and use it. So it is far impossible to be stopped. If Barclys Bank are currently testing it out with charities then I think it will be simple to say Bitcoin is the future and Jamie Dimon is prick and nothing more than vapor with him. And JPMorgan can go fuck himself, he thinks its not regulated or wait UK have that covered and oh wait many other places have that covered to and actually support it with REGULATION IN PLACE. US n Morgan do not have regulations in place hence why want to bank it bunch of assholes. Regulate it have regulations in place to follow then you can follow like others. If not then GTFO Bitcoin

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November 12, 2015, 10:54:23 AM
 #37

The head of a major bank hopes that bitcoin will be banned - does anyone consider this news? In your dreams, dude.

I have seen interview with head of Russian Central Bank (where Bitcoin is banned) and she says that they watch Bitcoin and they now that this low cost alternative is very attractive for citizens, so if it will be necessary they will prepare regulations. So we can clearly see that BTC is going in good way and slowly to mainstream.. even in Russia Wink

       
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erikalui
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November 12, 2015, 11:05:11 AM
 #38

Bitcoins can be banned in few countries but not overall so soon. If the currency continues to be misused by ISIS and other illegal activists, it will effect all of us. Even RBI are monitoring its use and till now nothing has been confirmed. It's just that every Government is desperate to collect taxes from each penny an individual has, bitcoin is viewed as black money.

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November 12, 2015, 07:50:23 PM
 #39

This guy is just a huge pile of bullshit. Why would it be banned?
 
You can use BTC in just the same way as online payments, or can even convert it to them.
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November 12, 2015, 10:40:44 PM
 #40

Bitcoin cannot be banned or controlled. It is a decentralized system, one person does not control the whole operation. If governments want to ban Bitcoin they will have to arrest every miner in the world, something that is impossible.
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