BTC Ban

[Xenophoto]

I don't think any country has so far blocked it. It will be really under some extra ordinary circumstances. One which I sadly am starting to believe is terrorist, it's hard to believe but they are using it and if it continues it will lead to a sure shot ban. Then I feel next would be taxes that the government is suffering. It's a sad reality but the government does loose a lot of taxes. Other than that I don't think there should be any other reasons.

If they are going to ban bitcoins because the terrorists use it, then there fiat should have been banned decades ago. Every single thing that has value will be traded upon another thing. Thus, it will always be used by the terrorists. If we are using gold coins right now as a means of buying things, the terrorists will be using it as well. Terrorists is just a part of the economy of the world.

For the second thing, there's only 21 billion dollars market cap on bitcoins. Even if all of that were taxed, it will be just a little amount of money to the government. Even the 21 billion USD itself is just a little amount of money to the government. They wouldn't mind losing this amount of money at all.

[deisik]

I don't think any country has so far blocked it. It will be really under some extra ordinary circumstances. One which I sadly am starting to believe is terrorist, it's hard to believe but they are using it and if it continues it will lead to a sure shot ban. Then I feel next would be taxes that the government is suffering. It's a sad reality but the government does loose a lot of taxes. Other than that I don't think there should be any other reasons.

If they are going to ban bitcoins because the terrorists use it, then there fiat should have been banned decades ago. Every single thing that has value will be traded upon another thing. Thus, it will always be used by the terrorists. If we are using gold coins right now as a means of buying things, the terrorists will be using it as well. Terrorists is just a part of the economy of the world

That will be only a pretext for banning Bitcoin, obviously

Since banning Bitcoin by just one country doesn't make a lot of sense (Bitcoin is just short from being banned in China, and it didn't change anything), we can imagine the UN Security Council issuing a resolution which would be binding to all UN member states and which would aim at a universal ban of Bitcoin on whatever pretext they find most appropriate at the moment (terrorism financing, money laundering, child pornography, drug trafficking, just to name a few)



This will happen when people around the world will openly defy their government financial authority

[Dorky]

Do you know banning bitcoin is as simple as banning the ip address of sites associated with it?
Or making it a law that anyone directly and indirectly involved in bitcoin will be raided and prosecuted?

You guys think that banning bitcoin is so hard as if the governments are truly helpless. No, they are not.

[btcjoin14]

Bitcoin might get banned only if people from various places inside the world paid for Weapons and other illegal things instead of having the interest in regular products like food, toys, clothing and the such. Bitcoin would then get noticed as a really bad thing to have around and it would make the people around the purchasers plus the sellers of Bitcoin a dangerous threat to the environment.
The people that want to ban Bitcoin would have somewhat of a success in banning Bitcoin because there would be a dramatically small amount of people that have Bitcoin purchasing access.

[deisik]

Do you know banning bitcoin is as simple as banning the ip address of sites associated with it?
Or making it a law that anyone directly and indirectly involved in bitcoin will be raided and prosecuted?

You guys think that banning bitcoin is so hard as if the governments are truly helpless. No, they are not.

And how are you going to ban the IP address?

They can restrict access to a domain name, but banning IP addresses would be equal to banning Internet as such, more power to them. Nevertheless, I'm curious how are you going to prevent people from using free VPN's, anonimizers of all sorts and kinds as well as numerous proxy-servers scattered all over the world. Let's assume that you are a government hell-bent on prohibiting its citizens from using Bitcoin. What will your actions be?

[Mike Mayor]

What will cause a government to ban bitcoin in the country? In what circumstances will that be justified by the government?
And how can government actually ban bitcoin? I mean they can ban people selling or buying stuff with bitcoin in the country, can they actually ban people from holding bitcoin?

How will you ban bitcoin ? You can't. Anyway banning things is ridiculous and does the opposite. Drugs are banned. Yet ever since they were made more and more illigal there have just been more and more demand ? So banning drugs was detrimental instead of good. What about violent video games ? Should we ban those too ? Should we ban GTA because a few people shot other people and stole some cars ? Now the game must be blamed ?

Ban bitcoin for what reason ? Government greed ? Banning bitcoin will do the opposite to what they want. People will just increase their usage just to spite the government. Bitcoin is people's money. People don't just sit around when someone threatens their money. If it was true then there wouldn't be so much crime and murder because that's mostly done for money. So threatenings someone's well being and family by threstening their income is a good way to start a civil war.

Why so I say this ?

One example is India or China.

You work like a dog cutting down trees or some other horrible manual labour. Now you work long hours for crap pay and you hot and tired and you in the sun and it sucks. Then you discover bitcoin and you can now blog about your life India or take part in bounties or whatever and make 3x more then you were and not have to be in the sun all day chopping trees or whatever. So now if the government threatens that because people are working online instead of working like slaves do you think those people will do nothing about it ? Eh noo ... I would do anything to not go back to chopping trees. Bitcoin changes people's life and is a tool of liberation and freedom !!

Viva let bitcoin !! We stand united we stand strong !! No dictator of tyranny can break us down. For we are justice and freedom.  In bitcoin we trust.

If you read this far thank you ^^

[Dorky]

Do you know banning bitcoin is as simple as banning the ip address of sites associated with it?
Or making it a law that anyone directly and indirectly involved in bitcoin will be raided and prosecuted?

You guys think that banning bitcoin is so hard as if the governments are truly helpless. No, they are not.

And how are you going to ban the IP address?

They can restrict access to a domain name, but banning IP addresses would be equal to banning Internet as such, more power to them. Nevertheless, I'm curious how are you going to prevent people from using free VPN's, anonimizers of all sorts and kinds as well as numerous proxy-servers scattered all over the world. Let's assume that you are a government hell-bent on prohibiting its citizens from using Bitcoin. What will your actions be?

Banning bitcoin sites is just like China banning porn sites.

Another is to make it illegal to get involved in bitcoin.

Yet another is use the media to spread all negative news about bitcoin.

And then forbid all banks from opening/managing/handling accounts that involve bitcoin-fiat transactions.

In the end, you may still own bitcoins (secretly) but it will be worthless and useless to you.

[Dorky]

Banning bitcoin sites is just like China banning porn sites.

Another is to make it illegal to get involved in bitcoin.

Yet another is use the media to spread all negative news about bitcoin.

And then forbid all banks from opening/managing/handling accounts that involve bitcoin-fiat transactions.

In the end, you may still own bitcoins (secretly) but it will be worthless and useless to you.

Additionally, make it a law to prosecute all business entities that directly and indirectly involved in bitcoin, including prosecuting web hosting sites that hosts sites that buy/sell bitcoin.

[Mike Mayor]

Do you know banning bitcoin is as simple as banning the ip address of sites associated with it?
Or making it a law that anyone directly and indirectly involved in bitcoin will be raided and prosecuted?

You guys think that banning bitcoin is so hard as if the governments are truly helpless. No, they are not.

And how are you going to ban the IP address?

They can restrict access to a domain name, but banning IP addresses would be equal to banning Internet as such, more power to them. Nevertheless, I'm curious how are you going to prevent people from using free VPN's, anonimizers of all sorts and kinds as well as numerous proxy-servers scattered all over the world. Let's assume that you are a government hell-bent on prohibiting its citizens from using Bitcoin. What will your actions be?

You right. You cannot ban the IP it will not work. That guy had no idea what he is talking about. Ban the ip they get a new one ? Then what ? Ban it again ? They get a new one ? Even if you start banning entire sections of IPS like Netflix has started doing it won't be for long and it is very resource intensive. Would you rather your police force catch murderers and theives and rapists or stuff around banning IP addresses ? Crime will go crazy.

Raided ? Prosocuted ?? You clearly have no idea about the law and have a very crazy imagination.
Firstly. You cannot just raid someone's house. You need a Warrenton signed by a judge and a damn good reason to believe said person is actually using bitcoin. Now let us say a hacker installs bitcoin wallets on other people's PC's ? Essentially the jacket can have anyone arrested. Seriously dude please this k before you start typing crap. I know I sound rude but dude really now.

If police started raiding everyone's house do you think other people will like this ? People who don't use bitcoins will not like that at all. It's not cool having a communist Nazi type regime of police running around raiding people . People will protest . I wouldn't like my neighbor being raided over something stupid like using bitcoin. That such a breech of so many things including ethics and human rights. Noone had the right to tell is what we do with out hard earned money. Noone is above us they are not God the only laws that should be written are those to protect people as a whole and not to further s few people personal agenda. Otherwise we will be living in a post opolyptic world where nothing makes sense.

[Dorky]

You right. You cannot ban the IP it will not work. That guy had no idea what he is talking about. Ban the ip they get a new one ? Then what ? Ban it again ? They get a new one ? Even if you start banning entire sections of IPS like Netflix has started doing it won't be for long and it is very resource intensive. Would you rather your police force catch murderers and theives and rapists or stuff around banning IP addresses ? Crime will go crazy.

Raided ? Prosocuted ?? You clearly have no idea about the law and have a very crazy imagination.
Firstly. You cannot just raid someone's house. You need a Warrenton signed by a judge and a damn good reason to believe said person is actually using bitcoin. Now let us say a hacker installs bitcoin wallets on other people's PC's ? Essentially the jacket can have anyone arrested. Seriously dude please this k before you start typing crap. I know I sound rude but dude really now.

If police started raiding everyone's house do you think other people will like this ? People who don't use bitcoins will not like that at all. It's not cool having a communist Nazi type regime of police running around raiding people . People will protest . I wouldn't like my neighbor being raided over something stupid like using bitcoin. That such a breech of so many things including ethics and human rights. Noone had the right to tell is what we do with out hard earned money. Noone is above us they are not God the only laws that should be written are those to protect people as a whole and not to further s few people personal agenda. Otherwise we will be living in a post opolyptic world where nothing makes sense.

Do you know that in the US, police are raiding houses and killing occupants WITHOUT warrant from the court?

[Mike Mayor]

Banning bitcoin sites is just like China banning porn sites.

Another is to make it illegal to get involved in bitcoin.

Yet another is use the media to spread all negative news about bitcoin.

And then forbid all banks from opening/managing/handling accounts that involve bitcoin-fiat transactions.

In the end, you may still own bitcoins (secretly) but it will be worthless and useless to you.

Additionally, make it a law to prosecute all business entities that directly and indirectly involved in bitcoin, including prosecuting web hosting sites that hosts sites that buy/sell bitcoin.

Lol.

You live in your own fantasy world. How is it there ? You only obey and do what people tell you to ?
You can't just go around prosocuted people . They can't prove who owns the bitcoins ? What you talking about is a communist government. Why would you even live in a country even willing to try that which btw will never work.

[Dorky]

Additionally, refer here ---> https://cointelegraph.com/news/comply-or-close-shop-cyprus-sec-to-international-forex-bitcoin-traders

International Forex trading hub Cyprus has signaled that “comply or close shop” standards will be enforced within nine months, causing uncertainty among FX companies, some of them holding Bitcoin/fiat positions.

Causing uncertainty among companies that hold bitcoin eh?

Just a simply yet-to-be-enforced threat can send jitters among companies holding bitcoin.

Imagine what will it do if actual law is in place banning bitcoin as illegal.

[Dorky]

Lol.

You live in your own fantasy world. How is it there ? You only obey and do what people tell you to ?
You can't just go around prosocuted people . They can't prove who owns the bitcoins ? What you talking about is a communist government. Why would you even live in a country even willing to try that which btw will never work.

You are a very NAIVE person, do you know that?

[Dorky]

The moment China starts requiring exchanges to do anti-money laundering policy and the participation rate of Chinese from over 90% sharply dropped to way below 20%, causing massive fall in price.

And here we are just talking about AML policy.

We are NOT even talking about outright banning and passing law to make bitcoin illegal and punishable by imprisonment.


And all the while, naive youngsters keep talking about how great is bitcoin that it cannot be stopped by the government. I say, this is LOL.
If the governments really do make bitcoin illegal and punishable by imprisonment, you will see the price fall so much you will actually shit in your pants.

[Dorky]

And most of all, knowing all these does not make the intelligent to be fearful of bitcoin, but instead make him much wiser and more confident in investing in bitcoin.

Only the naive will feel differently.

[deisik]

What will cause a government to ban bitcoin in the country? In what circumstances will that be justified by the government?
And how can government actually ban bitcoin? I mean they can ban people selling or buying stuff with bitcoin in the country, can they actually ban people from holding bitcoin?

How will you ban bitcoin ? You can't. Anyway banning things is ridiculous and does the opposite. Drugs are banned. Yet ever since they were made more and more illigal there have just been more and more demand ? So banning drugs was detrimental instead of good. What about violent video games ? Should we ban those too ? Should we ban GTA because a few people shot other people and stole some cars ? Now the game must be blamed ?

You are not the first (and not even the second) who comes up something along these lines

This won't work out as you think it would. Basically, banning Bitcoin is not the same as banning some drug or a violent game. Banning drugs and similar things doesn't affect them, cocaine will remain the same cocaine no matter how illegal it is being made, how many times it has been banned, or what punishment its possession may bring. In other words, the use of such banned substances will remain the same. This is not the case with Bitcoin since its use (read value) directly depends on whether governments are turning a blind eye and keeping a deaf year to it. If Bitcoin gets universally banned its use will drop and thus its value will plummet too. There is no advantage from decreased use in respect to Bitcoin. In short, it won't become more expensive due to this

Raided ? Prosocuted ?? You clearly have no idea about the law and have a very crazy imagination.
Firstly. You cannot just raid someone's house. You need a Warrenton signed by a judge and a damn good reason to believe said person is actually using bitcoin. Now let us say a hacker installs bitcoin wallets on other people's PC's ? Essentially the jacket can have anyone arrested. Seriously dude please this k before you start typing crap. I know I sound rude but dude really now

Whom are you talking to now?

[mrcash02]

The moment China starts requiring exchanges to do anti-money laundering policy and the participation rate of Chinese from over 90% sharply dropped to way below 20%, causing massive fall in price.

And here we are just talking about AML policy.

We are NOT even talking about outright banning and passing law to make bitcoin illegal and punishable by imprisonment.


And all the while, naive youngsters keep talking about how great is bitcoin that it cannot be stopped by the government. I say, this is LOL.
If the governments really do make bitcoin illegal and punishable by imprisonment, you will see the price fall so much you will actually shit in your pants.

But why would governments ban Bitcoin? They don't have reasons to do it now, the adoption is low and it doesn't affect government plans. And even if someday many people start using BTC and governments start banning it, people have their voice to be heared by their representants. They can requisite the use of Bitcoin on their countries, government can't deny it.

[lionheart78]

The moment China starts requiring exchanges to do anti-money laundering policy and the participation rate of Chinese from over 90% sharply dropped to way below 20%, causing massive fall in price.

And here we are just talking about AML policy.

We are NOT even talking about outright banning and passing law to make bitcoin illegal and punishable by imprisonment.


And all the while, naive youngsters keep talking about how great is bitcoin that it cannot be stopped by the government. I say, this is LOL.
If the governments really do make bitcoin illegal and punishable by imprisonment, you will see the price fall so much you will actually shit in your pants.

But why would governments ban Bitcoin? They don't have reasons to do it now, the adoption is low and it doesn't affect government plans. And even if someday many people start using BTC and governments start banning it, people have their voice to be heared by their representants. They can requisite the use of Bitcoin on their countries, government can't deny it.

Government will find a lot of reason if they wanted too.  They can even create fake scenarios and false evidence.  Once the government declare that Bitcoin is used to support terrorist and make fuss about it and exaggerate things about how Bitcoin are helping the terrorist, then they all have the reason to restrict the use of Bitcoin.  Luckily they need to convinnce all nation  to agree with the ban.

[BingoDog]

In progressive and civilised countries there will be no bitcoins ban. Of course things like terrorism and criminal activities could be the reasons for that but many governments now see that there is no use of bitcoin ban and that the virtual currencies are new reality. They will try to regulate bitcoin, yes, but not ban it. Unless maybe in countries like India, South Korea or similar.

[deisik]

The moment China starts requiring exchanges to do anti-money laundering policy and the participation rate of Chinese from over 90% sharply dropped to way below 20%, causing massive fall in price.

And here we are just talking about AML policy.

We are NOT even talking about outright banning and passing law to make bitcoin illegal and punishable by imprisonment.


And all the while, naive youngsters keep talking about how great is bitcoin that it cannot be stopped by the government. I say, this is LOL.
If the governments really do make bitcoin illegal and punishable by imprisonment, you will see the price fall so much you will actually shit in your pants.

But why would governments ban Bitcoin? They don't have reasons to do it now, the adoption is low and it doesn't affect government plans. And even if someday many people start using BTC and governments start banning it, people have their voice to be heared by their representants. They can requisite the use of Bitcoin on their countries, government can't deny it

You should never forbid what you lack the power to prevent

When Bitcoin user base expands dramatically (e.g. due to introduction of instant payments), it might be already too late to cry, so to speak. That's why it makes sense to ban Bitcoin right now while it is still possible. After people start massively using Bitcoin between themselves abandoning local currencies (and this is what I expect to happen eventually when transactions become ping-time instant over time), banning Bitcoin may play an evil joke with the government itself. Governments are not as invincible as many come to think here, and banning Bitcoin would backfire and effectively mean outlawing the government itself