Btc and government, what does the future holds?

[Hydrogen]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

If you're referring to the united states, look up something called "senate bill 1241" which involves crypto currencies/bitcoin.

It contains provisions which would allow the government to seize crypto for no reason with no checks or balances. It contains other controversial content including adjusting the terms gift cards and others associated with bitcoin/crypto are forced to operate.

It is also possible that the united states government uses its influence to protect chinese bitcoin miners having a controlling stake rather than a more decentralized mining base operating internationally. There's a lot that could be said on the topic. I wouldn't view my own post as being particularly informative or a decent overview.

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[richmcrich]

Once the government realizes it could benefit from it, it will certainly try to get it's fingers into honeypot. How exactly will it be done remains to be seen.

Exactly. This is what I too think. If the government finds out that BTC is going to be profitable for them, then there is no point denying Bitcoin and BTC. It will for sure take some time, but you can expect BTC playing a major role in Country’s economy.

[beerlover]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

It could happen but I think regulation is more likely than a ban, bitcoin unlike drugs does not damage society in the way those substances do, besides governments like the smell of money more than anything else.

I don’t think so that any Government will take up such steps against Bitcoins. On the other hand, it can happen that Governments of different countries can make it as their National Currency. And this will not be surprising at all for anyone knowing the worth of Bitcoin.

[pitiflin]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

It's quite possible because it's a kind of a loss to the government and the government will do anything In it's power to abandon it from it's people who are using it.  And the people who are committing crimes using bitcoin has caused the government a lot of issues and problems.  So the government does has a legitimate reason for banning bitcoin.

[Casmania]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

It's quite possible because it's a kind of a loss to the government and the government will do anything In it's power to abandon it from it's people who are using it.  And the people who are committing crimes using bitcoin has caused the government a lot of issues and problems.  So the government does has a legitimate reason for banning bitcoin.

There are so many reasons why bitcoin could be considered as a threat to the government. One of which is its anonymity and the possibility that it might be used as a "storage" for corrupted money or a way for illegal transactions. The government couldn't also put their hands on bitcoin, it is basically tax free. They couldn't profit nor get any benefit on it.

[mia khalifa]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

this possibility could happen, but I really hope that the government does not touch bitcoin at all and does not prohibit bitcoin trading. because if the government touched bitcoin and banned bitcoin trade then bitcoin will degenerate and become very cheap.

[bubblebit]

Every country is different and every laws or decisions must be popular to there citizens for they will be criticized about it. In our country I'm one hundred percent sure that it will not be banned but it will just be regulated. We're opened for new technologies and we are very adaptive country from what is trend every year. Bitcoin is a big helped for us and I don't see reason for it not to be legalized in the near future.

[Potato Chips]

Every country is different and every laws or decisions must be popular to there citizens for they will be criticized about it. In our country I'm one hundred percent sure that it will not be banned but it will just be regulated. We're opened for new technologies and we are very adaptive country from what is trend every year. Bitcoin is a big helped for us and I don't see reason for it not to be legalized in the near future.

well even if bitcoin got banned in your country for whatever reason even though i don't know how they'll do it lol, you can still use it through vpn

moreover the possibility of you getting caught is low. now if you're worrying about it being banned on every country, thats plainly impossible.

if they want to ban it, they have to ban the internet first. but realistically speaking, bitcoin has some things they should be wary about but i don't

think they'll go that far

[error08]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

Some countries already banned bitcoin, such as Ecuador, Kyrgyzstan, Saudi Arabia, Bangladesh, and Bolivia https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
But, most countries does not have detailed policies of regulating or banning bitcoins, so it's still safe to use bitcoin in many countries.
I don't think bitcoin deserve to be banned, because citizens could get benefits from bitcoin, there are many business utilize cryptocurrencies as medium of exchange and trading object. As long as a country regulate about KYC and AML for bitcoin and exchanges, it will be fine.

[jvdp]

Every country is different and every laws or decisions must be popular to there citizens for they will be criticized about it. In our country I'm one hundred percent sure that it will not be banned but it will just be regulated. We're opened for new technologies and we are very adaptive country from what is trend every year. Bitcoin is a big helped for us and I don't see reason for it not to be legalized in the near future.

Only the Bitcoin will stay in future. Bitcoin will replace the government soon.Surely bitcoin help everyone in their life at any situation. Even to my life.I had recently brought new Micromax Television. But bitcoin takes some decades of year to replace the government and all.

[JohnBitCo]

Once the government realizes it could benefit from it, it will certainly try to get it's fingers into honeypot. How exactly will it be done remains to be seen.

Exactly. This is what I too think. If the government finds out that BTC is going to be profitable for them, then there is no point denying Bitcoin and BTC. It will for sure take some time, but you can expect BTC playing a major role in Country’s economy.

The problem is that governments are not dump and they have already figured it out that bitcoin cannot be controlled by them and no taxes can be applied on it. Thats the reason they are not encouraging people to transits in bitcoins and convert their local currency into bitcoins. If you ask me, i will suggest governments to take both their local currency and bitcoins side by side as there is no way they can deny or stop people from using bitcoins.

[ceremonita]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

Let me list my perception about this.

-Governments will want more interfrence between bitcoin and users.
-Governmetns will try to take the market under control.
-Governmetns will try to tax people tradin and holding bitcoin, let's say 5% btc tax for holding it, each year.

[PhucS]

I think the Government's fight against Bitcoin by issuing a ban on it will not happen, if it is, it is very unlikely. Today, Countries now have more positive views about Bitcoin, some countries have adopted the legalization of Bitcoin as an official currency, opening up to welcome it to innovate more economically. I think the benefits of Bitcoin, especially its blockchain-based trading capabilities, have made it increasingly trusted by many governments and nations around the world. There will be more countries open with Bitcoin, I believe so

[Beerwizzard]

This thing is already sarted but one of the advantages of bitcoin is that it can't be controlled by government. The only thing they can do is ban using bitcoins (but that will not be affective) or ban mining (that will only hurt people but won't be harmfull for the whole blockchain).

[geyayy]

Bitcoin and government? I don't think this two can be in one sentence, if it is in my country. Having a government like ours, I think the first thing they will do is to put tax on it. I am not against to my country's government but it still a baby country and I think they will do all odds just to make them grow.

[Glorious04]

If it ever happens, i don't how are they going to do it since there is really no one who can rule over what is really going on in the internet.

[cluit]

Once the government realizes it could benefit from it, it will certainly try to get it's fingers into honeypot. How exactly will it be done remains to be seen.

Exactly. This is what I too think. If the government finds out that BTC is going to be profitable for them, then there is no point denying Bitcoin and BTC. It will for sure take some time, but you can expect BTC playing a major role in Country’s economy.

The problem is that governments are not dump and they have already figured it out that bitcoin cannot be controlled by them and no taxes can be applied on it. Thats the reason they are not encouraging people to transits in bitcoins and convert their local currency into bitcoins. If you ask me, i will suggest governments to take both their local currency and bitcoins side by side as there is no way they can deny or stop people from using bitcoins.

You are so right. Government only takes action or interest in that thing which ultimately by bolts and buts energizes the economy of their own accounts rather that of state. Bitcoins could not be under their rule and they control them, how would you think they will appreciate bitcoins? No, they will never do so.

[jostorres]

Once the government realizes it could benefit from it, it will certainly try to get it's fingers into honeypot. How exactly will it be done remains to be seen.

Exactly. This is what I too think. If the government finds out that BTC is going to be profitable for them, then there is no point denying Bitcoin and BTC. It will for sure take some time, but you can expect BTC playing a major role in Country’s economy.

The problem is that governments are not dump and they have already figured it out that bitcoin cannot be controlled by them and no taxes can be applied on it. Thats the reason they are not encouraging people to transits in bitcoins and convert their local currency into bitcoins. If you ask me, i will suggest governments to take both their local currency and bitcoins side by side as there is no way they can deny or stop people from using bitcoins.

Most government, after knowing the above fact has place lots of transfer fee in converting bitcoins to local currency. They cant tax bitcoin directly but whoever convert it in local currecny he / she is bound to pay high fees and this is not good really.

[machinek20]

The government need to take a serious thought before deciding to banned bitcoin, because bitcoin is helping the people to have a better life, and without being realized bitcoin can decrease the number of unemployment, so bitcoin is helping the country

[richkellj]

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

It's quite possible because it's a kind of a loss to the government and the government will do anything In it's power to abandon it from it's people who are using it.  And the people who are committing crimes using bitcoin has caused the government a lot of issues and problems.  So the government does has a legitimate reason for banning bitcoin.

There are so many reasons why bitcoin could be considered as a threat to the government. One of which is its anonymity and the possibility that it might be used as a "storage" for corrupted money or a way for illegal transactions. The government couldn't also put their hands on bitcoin, it is basically tax free. They couldn't profit nor get any benefit on it.

I don’t  really think the government will have anything to do with bitcoin, even if they do later,  it will be about investing. Some world governments are recognizing bitcoin and are starting to invest into it,  because they believe it will help boost their economy.