Europe wants to ban blockchain technology?

[ironm@n]

Link: https://news.bitcoin.com/europe-power-ban-blockchain/

The European Securities and Markets Authority (ESMA) is responsible for promoting investor protection, orderly markets and financial stability. At a blockchain conference last week in London, Patrick Armstrong, Senior Risk Analysis Officer, detailed ESMA’s approach to blockchain technology. One strategy he noted was to ban blockchain products or processes altogether.

This only brings more attention to Bitcoin, and the act demonstrates that, if necessary to protect the state's interests, centralized governments are willing to alienate people from a useful and important technology to the world economy. All this brings more incentives for people to start using Bitcoin and other blockchain technologies.

[gribble]

Bad news for bitcoin. I am sure this will not reduce the interest of the users of bitcoin. May be a worry if bitcoin when passing the Euro official Europe currency.

Exactly, the government of Europeans are fear to bitcoins because still there are problem with bitcoins as technically are like bock size and other problem, but actually it is still planing for banning bitcoin usage on there, we just can wait and see until january 2018 because right now they are learning about bitcoins and related.

[Xester]

Bad news for bitcoin. I am sure this will not reduce the interest of the users of bitcoin. May be a worry if bitcoin when passing the Euro official Europe currency.

Exactly, the government of Europeans are fear to bitcoins because still there are problem with bitcoins as technically are like bock size and other problem, but actually it is still planing for banning bitcoin usage on there, we just can wait and see until january 2018 because right now they are learning about bitcoins and related.

I think the main reason why Europe is planning to ban bitcoins because of its negative impacts on the financial and banking system. The brexit has just occured lately and they are now probably in the state of going towards economic downfall. If the Europeans will panic and shift to bitcoin then the possible economic downfall will really occur. So to recover from its financial problems Europe decided to ban bitcoins not because it hates bitcoin but as a way of recovering their financial and banking stability.

[bitkilo]

Bad news for bitcoin. I am sure this will not reduce the interest of the users of bitcoin. May be a worry if bitcoin when passing the Euro official Europe currency.

Exactly, the government of Europeans are fear to bitcoins because still there are problem with bitcoins as technically are like bock size and other problem, but actually it is still planing for banning bitcoin usage on there, we just can wait and see until january 2018 because right now they are learning about bitcoins and related.

I think the main reason why Europe is planning to ban bitcoins because of its negative impacts on the financial and banking system. The brexit has just occured lately and they are now probably in the state of going towards economic downfall. If the Europeans will panic and shift to bitcoin then the possible economic downfall will really occur. So to recover from its financial problems Europe decided to ban bitcoins not because it hates bitcoin but as a way of recovering their financial and banking stability.

I really wish people here would read the posts and links before posting for their signature campaign based purely on the thread title and you guys in the Yobit campaign are the worse , they should just ban the whole bloody campaign.

Europe is NOT planning to ban bitcoins at all, as the article says:

“When confronted with a financial innovation, a regulator can roughly take one of three approaches,” he explained.

The first approach, which Armstrong called the “restrictive approach” is to ban or restrict products and processes based on blockchain technology.

[stark101]

Actually if Europe wants to ban blockchain technology, well it is a critical topic and of course europe has the power to do it. The European Securities and Markets  is responsible for promoting investor protection, orderly markets and financial stability. "https://news.bitcoin.com/europe-power-ban-blockchain/"

But do they need to do that? For what reason/s? If they really want to do it, then is it really big impact to the users here.

[eternalgloom]

This was also posted on Reddit, in /r/europe and reading some of the comments makes me pretty sad to think that some people are really short-sighted.
https://www.reddit.com/r/europe/comments/5fb9rb/europe_will_have_power_to_ban_blockchain_tech_in/

Some examples:

Exactly my first thought, why would they. Bitcoin is one thing, but the technology has a potential that goes far beyond a digital currency, if you look at ethereum. It is however a good idea to develop methods to control it, should it develop into something harmful, bitcoin can and is used to facilitate illegal activities afterall. Establishing parallel currencies is not without consequences for the economy either.

Monetary control. Bitcoin is inconvenient because it is not under governmental control. While there can be made SOME arguments for this ( like cutting down of fraud, illegal activities and protecting owners) I see this as an organized effort to undermine and limit fiscal freedom.

I just think it's kinda stupid to even make the argument for banning Bitcoin about it's use for illegal activities.

[darklus123]

Well,I am not from a europian country. This may sound's bad for all who were in Europe but i also believe that if this action would really be implemented it can cause them a lot of trouble especially if the other countries instead adopts bitcoin. The flow will just continue around the world.

[BitcoinHodler]

there is a big difference between when some people are only talking about banning bitcoin or blockchain technology and when there is serious talk about it.

in my country nobody knows about bitcoin but when i checked more about it there were some suggestions to issue a law to make using bitcoin illegal but these laws never happen. nobody agrees with them.

[Victorycoin]

Sad news, better to prepare yourself because they will try to do something against Bitcoin. If they don't ban it, they will want fees over it. This EU should end, they disrespect the individual rights and the countrie's soberany. Everything they want is to rule, live on confort, everything with Europeans money. Demagogues and hypocrites,

It is no surprise, Bitcoin is a big challenge to all the fiat currencies out there, because it is beyond the control of anyone of those governments and which is a reason they are fighting tooth and nail to derail it. They however woke up quite late, bitcoin and its blockchain technology is done reveling the falsehood and manipulations of the governments and its agents, that money can never remain what it used to be.

If they ever get some success in dislodging bitcoin, they would only have succeeded in laying the foundation for a more sophisticated and rugged coin to take center stage, because this is really not all about bitcoin and blockchain, but more of abolishing modern day slavery from its roots.

[staff_1307]

Not good news, but they are not necessarily true, you can usually start to prepare for this, but I think it's just rumors.

[uneng]

Sad news, better to prepare yourself because they will try to do something against Bitcoin. If they don't ban it, they will want fees over it. This EU should end, they disrespect the individual rights and the countrie's soberany. Everything they want is to rule, live on confort, everything with Europeans money. Demagogues and hypocrites,

It is no surprise, Bitcoin is a big challenge to all the fiat currencies out there, because it is beyond the control of anyone of those governments and which is a reason they are fighting tooth and nail to derail it. They however woke up quite late, bitcoin and its blockchain technology is done reveling the falsehood and manipulations of the governments and its agents, that money can never remain what it used to be.

If they ever get some success in dislodging bitcoin, they would only have succeeded in laying the foundation for a more sophisticated and rugged coin to take center stage, because this is really not all about bitcoin and blockchain, but more of abolishing modern day slavery from its roots.

They can try stop bitcoins power, but they won't be succesful. This currency is already consolidated, many persons over the world depends bitcoins for their own success or for the sucess of their businesses. The best thing governments and another authorities can do is accept it, this way they will be saving a lot of time for everybody.
At this moment it's impossible to know what will happen in the future, for now, let's continue making profit with our businesses.

[shield132]

I read some days or weeks ago that Dubai was going to use blockchain technology to attrack new tourists and cryptocurrency users. Here opinions are two: One side is going to use it for tourism development and another side is banning it in 2018 january. Maybe europe countries have their strategy for financial income and it'll help them. Let's see what will cause blockchain population and banning in different area.

[revealer]

https://www.youtube.com/watch?v=ijxr5Oolf5A&t=64s

[inyourear1]

They always say that in the beginning. Then they when they find they can do this. They try to limit the damage by controlling it. Who ever said they would ban it is ignorant.

[Jewelettes]

Huh?

Says who?

I read the article and that didn't say anything about banning bitcoin technology.  Have I missed anything?

Ooops, yeah, just the title.

[Paninotech]

good job it's not true

[youdacapt]

I read with a smile . I still remember, when nokia cooperated with the government's monopoly on information technology system. then in fact they could not stem the android os which clearly exceeds their capabilities.

This analogy is not the same, but blockchain would be a great project than just a smartphone. There are always pros and cons, because they touch the real world currency stability. I don't agree with the opinion that considers currency and real bitcoin will not collide. They will collide, when Bitcoin scarce and contested.

They will admit blockchain when they were unable to stem the global market's confidence.

[Barbut]

Huh?

Says who?

I read the article and that didn't say anything about banning bitcoin technology.  Have I missed anything?

Ooops, yeah, just the title.

Sensational headlines attract masses, I also didn't saw anything about banning bitcoin in article.
Writer just wanted attention, and with this headline wlhe got it.
There is no truth in this headline, and just some idiot would believe in this. Bitcoin is safe for now, in future who knows we will see. Much more likely they will try to control blockchain, in case they don't succeed they will try something else.