Don´t you fear a sudden government ban ?

[conkeer]

Bitcoin isn´t big/stong enough to really disturb government and big banks, probably a minor incovenience by now, we see some talks about regulation here and there, but nothing concrete.


But as it gets more popular and a direct impact in their operations start to appear, it´s reasonable to think action would be taken, even making it illegal.


Sure they won´t be able to seize our bitcoins, or stop transactions, but this won´t matter, the support and general belief will suffer major damage, price would crash to hardly recover ever again.


US took down major and global poker sites overnight due to suspicion of illegal activities around it, why should be different with bitcoin ?

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[ultrloa]

Bitcoin isn´t big/stong enough to really disturb government and big banks, probably a minor incovenience by now, we see some talks about regulation here and there, but nothing concrete.


But as it gets more popular and a direct impact in their operations start to appear, it´s reasonable to think action would be taken, even making it illegal.


Sure they won´t be able to seize our bitcoins, or stop transactions, but this won´t matter, the support and general belief will suffer major damage, price would crash to hardly recover ever again.


US took down major and global poker sites overnight due to suspicion of illegal activities around it, why should be different with bitcoin ?

It's because bitcoin is separate from poker and it happens that those gambling games sued its because they are operating illegaly.

And you should remember that bitcoin is E-assets and as I've read from some articles if I am not mistaken trump supports crypto's and only those who sued by goverment are indulge on money laundering and unlicensed gambling sites.

[maeusi]

Also, if it would be not supported, governments bans wouldn't have effects to bitcoin holders. Bitcoin is a decentralized currency and can't be taken under supervision by governments. As preposter already stated, bitcoin itself has nothing to do with activities like gambling. It is just a currency. Governments will more support Bitcoin as banning it, because they take huge profits from taxes and bitcoin technology.

[Seansky]

But as it gets more popular and a direct impact in their operations start to appear, it´s reasonable to think action would be taken, even making it illegal.

For now theres no need to fear of a sudden government ban because the chance of it happening is pretty low. Here where I live, bitcoin is considered as an e-asset and is legal to use unless you do something illegal and those poker sites took down by US and bitcoin are different. If one were to happen though, I still won't be afraid because no one can now that I use bitcoin unless I say it out loud.

[Torque]

Sure they won´t be able to seize our bitcoins, or stop transactions, but this won´t matter, the support and general belief will suffer major damage, price would crash to hardly recover ever again.

[pooya87]

~
US took down major and global poker sites overnight due to suspicion of illegal activities around it, why should be different with bitcoin ?

and when they took down these "major and global poker sites" did they by any chance ban poker itself?
you see where the flaw in your thought is?

and besides which government are we talking about? bitcoin does not belong to one country to be controlled by one government. it is a global one without any centralized authority to be able to have any effects on it.
if one idiot country government decided to "ban bitcoin" they are just isolating themselves from the rest of the world. other countries have not only adopted bitcoin but also legalized it.

[freebutcaged]

US government is not the only government in the world, lets assume they just ban Bitcoin completely, the rest of the world will use it as before mate.

Since Bitcoin is decentralized they have no power to sanction any nation adopting Bitcoin because you could easily hide your location where you are

Sending and receiving transactions. yeah welcome to the new banking. besides they would never ban something which is making them billions, if you

Think they are nor deeply involved from 2009 in Bitcoin then you're just gullible.

[iamTom123]

Any government can declare the use of Bitcoin as illegal. They can not declare Bitcoin per se but they can regulate its use. However, as shown in Japan, there is a better compromise. The government will recognized Bitcoin as either cash or asset and they can start on imposing tax. In the end, everybody can be happy.

The main concern of the government is always the collection of tax as it is the lifeblood of the government without funds it can not move in serving its constituents. And of course, the control on money laundering so that illegal activities can not be encouraged with the use of Bitcoin.

[djuvantebit]

Bitcoin isn´t big/stong enough to really disturb government and big banks, probably a minor incovenience by now, we see some talks about regulation here and there, but nothing concrete.


But as it gets more popular and a direct impact in their operations start to appear, it´s reasonable to think action would be taken, even making it illegal.


Sure they won´t be able to seize our bitcoins, or stop transactions, but this won´t matter, the support and general belief will suffer major damage, price would crash to hardly recover ever again.


US took down major and global poker sites overnight due to suspicion of illegal activities around it, why should be different with bitcoin ?

Government wouldn't take a drastic action has declaring bitcoin illegal unless it threatens their mainstream income,  what they can do is give bad press to discourage their citizens from using bitcoin.

[Yuuto]

Bitcoin isn´t big/stong enough to really disturb government and big banks, probably a minor incovenience by now, we see some talks about regulation here and there, but nothing concrete.


But as it gets more popular and a direct impact in their operations start to appear, it´s reasonable to think action would be taken, even making it illegal.


Sure they won´t be able to seize our bitcoins, or stop transactions, but this won´t matter, the support and general belief will suffer major damage, price would crash to hardly recover ever again.


US took down major and global poker sites overnight due to suspicion of illegal activities around it, why should be different with bitcoin ?

The thing is that bitcoin is decentralized.

If bitcoin was centralized then obviously it always has the risk of getting shut down by government. But this is simply not true. Bitcoin's value is based on the fact that there is a fully decentralized ledger that is running that keeps all the transactions.

Thus, if the government wants to shut down bitcoin, they would have to shut down all the bitcoin nodes.

And this is impossible, considering the sheer size of nodes. And it's only growing. So the only way to 100% shut down all bitcoin activity would be to shut down the internet which would not benefit anyone.

[severaldetails]

Where I live the government usually sticks to the rules because they even apply for the government.
Sure, they could declare the posession of bitcoin to be illegal.
But they could not do so from one day to the other.
You would always have several months to prepare for such an event.
But I highly doubt it will ever come to that because bitcoin has already been ranked to be a commodity by them.

[farhaan]

Surely,bitcoin could become a big disturbance to governments in the very near future.Not every country is bangladesh to ban bitcoin.All the countries are well aware that they could not ban bitcoin.Thats what happened in the case of china and russia whenthey had an idea to ban bitcoin.Later they realized that they could not and changed their stand and started regulating bitcoins.This is the final option left for a country to do with bitcoins,just to regulate it.

[iqlimasyadiqa]

Surely,bitcoin could become a big disturbance to governments in the very near future.Not every country is bangladesh to ban bitcoin.All the countries are well aware that they could not ban bitcoin.Thats what happened in the case of china and russia whenthey had an idea to ban bitcoin.Later they realized that they could not and changed their stand and started regulating bitcoins.This is the final option left for a country to do with bitcoins,just to regulate it.

Each country must have its own rules. As you said that when there is a country that prohibits bitcoin then in the end they still will not be able to completely ban it. Bitcoin develops in the current era. The fact is there are many ways that can be used to access bitcoin, and I'm sure now has started many countries are open and receive bitcoin. They are aware that bitcoin can help the economic development of the country. So from now on do not be afraid when the government plans to tire of bitcoin, they just bluff and their efforts will be in vain.

[chessnut]

I dont think Bitcoin is big enough to ban the government yet.

[Basmic]

Nothing good I expect from my government, and therefore used to survive in any conditions. Even if they try to ban bitcoin they will not succeed because I will cash them on the territory of a neighboring state. Against any poison there is an antidote.

[jc89]

I don't think there's a reason for the government to ban btc so there's nothing to fear. Btc helps in economic growth that's why I don't think they will ban the use of it. The government saw its potential that's why they decided to support it in the first place. The only thing they can do is make sure that the its uses won't get out of hand and make sure to properly regulate it by making effective bills.

[maokoto]

I am pretty sure that if things go high enough, governments will try to regulate bitcoin usage, passing laws, fees and taxes. But they will not make it dissappear for sure. I sometimes see it similar to piracy, they have tried, but could not stop it.

[Samarkand]

I don't think there's a reason for the government to ban btc so there's nothing to fear. Btc helps in economic growth that's why I don't think they will ban the use of it. The government saw its potential that's why they decided to support it in the first place. The only thing they can do is make sure that the its uses won't get out of hand and make sure to properly regulate it by making effective bills.

How exactly does BTC help economic growth in your opinion?
A huge percentage of owners is just holding and doesn´t make any transactions at all.

The mainstream economy works, because most people buy and consume stuff. If someone buys BTC instead of buying
a TV or a new computer, the economy doesn´t really benefit.

In the future when BTC will be used more for purchases this could change, but currently I don´t really see it
as contributing to economic growth.

[neinnein125]

I am personally scared of sudden ban for all coins by lot governments. It can trigger ban waves all over the world. I hope there will always be peace between bitcoin and nations.

[AjithBtc]

I don't think there's a reason for the government to ban btc so there's nothing to fear. Btc helps in economic growth that's why I don't think they will ban the use of it. The government saw its potential that's why they decided to support it in the first place. The only thing they can do is make sure that the its uses won't get out of hand and make sure to properly regulate it by making effective bills.

As stated bitcoin is completely on a different platform compared to other things that function around us. It's not that easy for governments to oppose or regulate bitcoin. Only after long research it will be added. So for few governments already accepting bitcoin I expect the number to increase by the years to fall.