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Author Topic: Maybe governments can stop bitcoin after all  (Read 11086 times)
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December 15, 2017, 09:31:14 AM
 #601

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.

the government in my country is planning to generate income from bitcoin instead of stopping it. they are trying to find a local name for bitcoin to enter the literature. and then they plan to buy tax on bitcoin. I hope they will not succeed in this.

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December 15, 2017, 09:49:20 AM
 #602

Some of them already banned Bitcoin transactions, for example South Korea. So i think most governments still don't know what to do with Btc and somehow they assume it's a threat for themselves.

No, What ? Shocked,Who said and what are you reading ? Bitcoin transactions are under observation and they might bring some regulations regarding taxes system for bitcoin but they are not going to ban bitcoin after all they were so supportive for bitcoin in the past and also people were giving reference of South Korea how they have manged to expand bitcoin in their country. South Korea plays a vital role and they also earn much revenue from this system if introduced taxes and will never ban a stuff which helps them to earn them so much revenue.
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December 16, 2017, 08:09:11 PM
 #603

Some of them already banned Bitcoin transactions, for example South Korea. So i think most governments still don't know what to do with Btc and somehow they assume it's a threat for themselves.

No, What ? Shocked,Who said and what are you reading ? Bitcoin transactions are under observation and they might bring some regulations regarding taxes system for bitcoin but they are not going to ban bitcoin after all they were so supportive for bitcoin in the past and also people were giving reference of South Korea how they have manged to expand bitcoin in their country. South Korea plays a vital role and they also earn much revenue from this system if introduced taxes and will never ban a stuff which helps them to earn them so much revenue.
The governments which are truly for their regions they will never create any hurdle in the way of its progress and I am bit sure that banks are now on the ending stages and people find bitcoin which is much more reliable than investing into the banks and more of it bitcoin will also wipe out cash because people are now much more attached to the bitcoin because they know very well that this cash will not give them much.

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December 16, 2017, 09:07:41 PM
 #604

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.

They can try but this type of system can't be stopped because there are more people on this side of the storm then the ones who are trying to stop it. As long as we stay true to the vision of bitcoin and don't sellout it will always work. The key is to not sellout because there will be a selloff and it matters how many strong hands are left that will decide whether bitcoin remains or not. Overall I like to think the hands are quite strong and we will keep the system in tact for years to come. No doubt though governments will try to intervene or even have their own coin, I just think they can't stop what bitcoin will one day become.

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December 18, 2017, 03:11:18 PM
 #605

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
We all know bitcoin is good to us,because some people doing this to earn a money, so that is important to those person they no job.And i think bitcoin is legal to many country, so that many people complaints in to the governments.And those people needs a work, so that can easy to work in bitcoin, because of internet.
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December 18, 2017, 03:15:22 PM
 #606

It has been already tried before, people went underground and bitcoin still thrived.
The idea now has taken hold on people and the governments will have a hard time dislodging it.

Best thing governments can do is regulate it.

Freedom provided by bitcoin is its selling point. Though, in the end, we still have to work with the government so, regulation is the key and not banning.

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December 20, 2017, 08:51:33 PM
 #607

Some of them already banned Bitcoin transactions, for example South Korea. So i think most governments still don't know what to do with Btc and somehow they assume it's a threat for themselves.

No, What ? Shocked,Who said and what are you reading ? Bitcoin transactions are under observation and they might bring some regulations regarding taxes system for bitcoin but they are not going to ban bitcoin after all they were so supportive for bitcoin in the past and also people were giving reference of South Korea how they have manged to expand bitcoin in their country. South Korea plays a vital role and they also earn much revenue from this system if introduced taxes and will never ban a stuff which helps them to earn them so much revenue.
The governments which are truly for their regions they will never create any hurdle in the way of its progress and I am bit sure that banks are now on the ending stages and people find bitcoin which is much more reliable than investing into the banks and more of it bitcoin will also wipe out cash because people are now much more attached to the bitcoin because they know very well that this cash will not give them much.
The current monetary system can provide us the ability to use money without internet, we do not depend on internet to connect our wallet, bring paper money instead of credit card, this is the solution and best function of current monetary system while Bitcoin can not provide for us.



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December 20, 2017, 11:35:05 PM
 #608

I think it is beacause when the bitcoin become famous to all country so they have posssibility that majority of people in one country who using bitcoin become dependent to the profit that came from btc. So if the majority of people depend only on the btc profit how about the tax of one country if the mojarority of people only depend the bitcoin currency the government can stop bitcoin because bitcoin no tax.

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December 21, 2017, 12:30:41 AM
 #609

Some of them already banned Bitcoin transactions, for example South Korea. So i think most governments still don't know what to do with Btc and somehow they assume it's a threat for themselves.

No, What ? Shocked,Who said and what are you reading ? Bitcoin transactions are under observation and they might bring some regulations regarding taxes system for bitcoin but they are not going to ban bitcoin after all they were so supportive for bitcoin in the past and also people were giving reference of South Korea how they have manged to expand bitcoin in their country. South Korea plays a vital role and they also earn much revenue from this system if introduced taxes and will never ban a stuff which helps them to earn them so much revenue.
The governments which are truly for their regions they will never create any hurdle in the way of its progress and I am bit sure that banks are now on the ending stages and people find bitcoin which is much more reliable than investing into the banks and more of it bitcoin will also wipe out cash because people are now much more attached to the bitcoin because they know very well that this cash will not give them much.
The current monetary system can provide us the ability to use money without internet, we do not depend on internet to connect our wallet, bring paper money instead of credit card, this is the solution and best function of current monetary system while Bitcoin can not provide for us.

will not happen because the government is not able to make a global vote, there will always be countries that appreciate the development of bitcoin because of its potential. so if there are some governments that are voting to reject it will have no effect because there will be an opposing state, the only way is to enact a rule on bitcoin completely and be signed together because bitcoin can not be stopped.

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December 21, 2017, 12:31:47 AM
 #610

Unless they attack HUGE btc holders I don't think they have a chance, people who creates stuff to be used with btc are these using them and the government has no chance to change it
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December 21, 2017, 12:49:29 AM
 #611

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.

the government in my country is planning to generate income from bitcoin instead of stopping it. they are trying to find a local name for bitcoin to enter the literature. and then they plan to buy tax on bitcoin. I hope they will not succeed in this.
If they government is interested in going after your exchanges then you can be sure that they'll succeed with their goals of going after and getting taxes from cryptos, you have to realize a lot of poorer countries (not that I know which country you come from) will do a lot to get their hands on tax money so they can do whatever it is they need to spend money on. If there is no insane trading volume or whales within your borders you might be out of luck. But only time will tell and you might be able to squeak by.
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December 21, 2017, 02:02:17 AM
 #612

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.
That is a sad reality. But I do not see bitcoin stopping from now. There is no stopping bitcoin. Even if it is declared illegal by some countries, bitcoin still becomes unaffected and value continues to rise. China once banned btc but they made a counterdecision to reverse it and make it legal.

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December 21, 2017, 02:10:27 AM
 #613

Yes it can happen because bitcoin deflating the countries currency, for that country can take strict action. But banning bitcoin after so long is not considered. If they want to ban they can do that in beginning. Many policies, rules, regulation are made. Also determined that they dont want to ban.

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December 21, 2017, 11:18:04 AM
 #614

I don't think so. Governments don't have any means to stop bitcoin, knowing that everyone can use the computer as they wish.
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December 21, 2017, 11:32:41 AM
 #615

I don't think so. Governments don't have any means to stop bitcoin, knowing that everyone can use the computer as they wish.

It's not known whether the government will succeed in stopping bitcoin, but they can introduce such a law that the use of cryptocurrencies will make it more difficult. Then some people may be discouraged from investing in bitcoins.

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December 21, 2017, 11:37:04 AM
 #616

They can't stop the using but they can stop the growth by regulating it. By this, investors will be upset and their potential profit will be stopped. The government of every country are currently taking actions on making laws on bitcoin.
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December 21, 2017, 11:39:59 AM
 #617

European union is working (or will soon) work on the question. But apparently, they shouldn't stop it, it's more about regularize and tax gain in crypto than stop it. Anyway countries which make it illegal may change their mind depending on how other countries take action.

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December 21, 2017, 11:53:23 AM
 #618

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.

The central bank of the Philippines is also against to bitcoin. I think they do not accept bitcoin as a way of income of we are going to open an account to them.
It is not yet the government itself but it is very powerful. So expect more when the government is the one who give decision.

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December 21, 2017, 12:09:54 PM
 #619

Yeah this is the true thing. No goverment can control or manage Bitcoin. Europeans used to try but it didn't work.

That's true, no one can stop Bitcoin invading the whole world. Even the government can't do anything, unless their going to communicate or talk to all internet provider to block all site with regards to Bitcoin matter.
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December 21, 2017, 12:14:24 PM
 #620

This is a serious discussion. I mean, after I've seen how bitcoin (and other cryptos as well) got dumped badly after an irrelevant law that makes ICOs illegal. I can only imagine now what would happen If more countries do the same thing and It could get worst by make itself bitcoin illegal. Whether we like to admit it or not, most of people would sell everything they have once its made illegal, some may continue to fight the central banking but the sad reality is that as soon as people start making profits, they will dump it and move on.

Probably they cant end bitcoin but theyxan regulate it through centralized wallets. Some governments only regulates bitcoin in order to have control over transactions using bitcoin, eventhough they cant fully control bitcoin still they can extract taxes on bitcoin transactions and investment. So in other word government cannot end bitcoin that easily.

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