Btc and government, what does the future holds?

[z38630610]

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 is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

[Emitdama]

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 is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I must say that the economic condition of the country in which there are people who are investing in bitcoin is far better than any other country who is not having any investor who invests in bitcoin. Bitcoin is no doubt very much capable of making the economic condition of almost most of the countries apart from that of making the economic condition of the people better.

[chickenado]

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?

In what i see in our country it was not possible that government would have interest in bitcoin as a matter of fact government officials were busy resolving their personal issues,problems of terror attacks, illegal drugs and corruptions and bitcoin here is not that popular,most people do not understand its functions,for me i don't have to worry for now that bitcoin will be banned or put a law through our exchangers or traders because fiat curreny is still valuable here and only few of us knows about it and if it happened maybe it takes alot of time,in the future.

[Aikidoka]

The future of bitcoin lies within the hand of people not the government, unless the latter gets its share. As a matter of fact, the government is aware of the bitcoin and if it sees it as a threat, either it bans it or regulates it like what some countries did.

Added to that statement, it is possible for it to intervenes with bitcoin to prevent a fatal crisis. Honestly, I do not like the intervention of the government.

[Mascrypto]

Learn why Bitcoin was created. It can not be controlled, therefore the government will not be favorable. Bitcoin has started a new era of money and is considered a kind of economic experiment.

[The213e]

The central banks they benefit from retaining power. Look at countries such as Afghanistan, Iraq and Libya. Before the war it was reasonable when it comes to the money market. But after the war and that America has interfered with it, central banks have been introduced. The whole world revolves around the power of money. So the central banks benefit from the money and the people, they do it through debt. And so the citizens of the countries are the slaves of the central bank. That's why Bitcoin is so important. A limited amount of what can be spent. No owner and everyone is his own bank.

[eaLiTy]

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

[arwenphoenix]

Learn why Bitcoin was created. It can not be controlled, therefore the government will not be favorable. Bitcoin has started a new era of money and is considered a kind of economic experiment.

Yeah, goverments will ban things that they can't control, put it in the prohibited sessions .

[ErlindaBit]

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?

I think the government has only the authority to ban the use of bitcoin as the legitimate exchange rate in that country, it will not be more than that

[Coffee135]

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

[ss890]

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?

My opinion about this one:

They have already started taking the actions in different countries. I believe that maxima for this incidence will reach to all new heights soon. Many countries already fell into this and people got screwed with the investments. So we need second alternative surely.

What do you think & what will happen?

Getting real experience from the people who are in the country where the bans have occurred recently. Its really fearing thing that our funds might get ceased into different exchangers and we may not get them back. So most probably bad things will happen only.

For the sake of governments own safety it won't be difficult for them before they can ban from the whole world. Im seeing the storm but somehow big investors might be stopping or trying their best to stop the bad accusation. Otherwise it would have been already stopped.

[lesinset]

I think that it's possible for the government to come up to such law that will forbid bitcoin. But, I believe they won't do it because they themselves can earn a lot from bitcoin if they'd use the law to it.

[amih]

as applied in my country for now is to impose a ban on the form of transactions or the sale of any type of goods by using the method of payment with bitcoin on the grounds in my country there is an official money intended to transact. but in my country there is no prohibition to invest with bitcoin so for me this is not really a problem because my goal on bitcoin is to make an investment within a certain period of time. and if I want to do a sale and purchase transactions of course I do is first to exchange for bitcoin that I have to be converted into USD or official money in my country.

[faceoff97]

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

How MANY? It is the ICO that has been banned in SOME of the countries around the world like South Korea. China have implemented the ban of cryptocurrency but not specifically Bitcoin. Governments are regulating the use of bitcoin and cryotocurrencies. Since the goverment cannot control the flow of bitcoin being decentralized they will make ways on how to stop or have a control over bitcoins or cryptocurrencies. It's sad how some people in the government use bitcoin for their own interest.

[BlackPanda]

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?

That could happen because the government has the power of access to be able to do things. Bitcoin had previously been a problem because some countries have banned the use of bitcoin. So it is very possible that the government can take a favorable decision for their country.

[fiulpro]

The government is doing all this already,you don't need to think that it's something that's related to future ..
Rather one should remember that... Whatever anyone does the market can always fluorish without their support.

But one thing for sure have changed over these years and that is... The government is getting scared 'scared of the cryptocurrency system Because they are not being able to control this money , it's decentralized and something that they fear.

[KingdomHearts]

It is hard decision that governments may be against bitcoin. Because governments have lots of economical benefits thanks to bitcoin. If they see bitcoin
 as illegal money, they will lose their high economy. Think about big money men, bitcoin makes their illegal money to legal. Therefore bitcoin is a big chance to develope and be the richest one.

I truly did not understand what you are telling here,what economic benefit does the government have because of bitcoin other than the minor tax they are supposed to get if they legalize bitcoin ,bitcoin making illegal money to legal  i am not sure from which country you are coming,if someone does that ,he should land in jail and for this only reason any government could ban the trade and running of exchanges in a country and you think that due to these the government will support,that weired thinking.Any government could come up with any decisions but as a user we will find ways to trade it as it is not centered around any one nation.

Many governments have already banned the use of bitcoins. Do you see any response from the bitcoin community? I do not see. Even without a complete government ban users cannot develop trade with bitcoins because of the very high fee for the transaction. What will happen if now to the prohibitions of the governments will join the bankers? They have a direct interest in the destruction of bitcoin.

They have more advantages for bitcoins if they are banned, yes you are right. These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.

[el kaka22]

These governments already know what are the goods and bad of this bitcoins, knowing all these facts still they are behaving like dumb who knows nothing. They need to understand the importance of bitcoins and their legality so that every person can use them worldwide and they can be benefited.

Because, government cannot do anything about bitcoin like they cannot stop people holding bitcoin nor stop people from mining bitcoin. As these are all coming under people's basic rights.

All they can do is, may regulate bitcoin trading against fiats. Like they can impose new regulations against exchanges. That is already happening in many countries but we can see that is not at all impacting the growth of bitcoin in long term. When some regulations are coming in, people first get scared but after that they get practice to that and within that regulations they are finding new ways to adopt and to become a successful bitcoiner.

[StonedWolf]

Sadly, there is no guarantee that such a thing can't happen. In some countries, bitcoin doesn't pose a threath. Also ,it doesn't harm the economy. At least, not yet.
But, for other  countries that are facing problems, it is indeed a threat. Some transactions need to be tracked, for people 's safety purposes. For example, imagine that an assasination happened. The government caught the hitman and the money he got from the opetation. They want to track it. If it is in bitcoin, they can't. In that case , they will just prohibit it.

What i want to say , nothing is certain, because its happening , depends on too many variables.

[boyshx]

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.

I was going through the answers and found yours, seems to be very solid reason but limited to each countries rules and regulation or the government itself. As far as I know these changes can never take place suddenly int he asian countries like India, Bangladesh,etc. Their government is strict but at the same time *corrupted too. They might just take lot of time before they could even make any amendments within those countries. It is said that politicians over there are using bitcoin for the money laundering purposes and thats why the bitcoin is still running over there without any hassles.

So you see this is really matter of each country. Where one may accept the bitcoin openly (like Japan, Switzerland) or they may not and make it strict for example, USA.

*No offence. Information obtained form the local news paper.