Serious topic: how can we be sure Bitcoin will not be banned by most countries?

[junoreactor]

Hi,
First of all, I am a holder, and Bitcoin is for me is an investment, I intend to hold for at least 5 years, so the question asked in the topic title is the last thing in the world I want.
That being said, with China, and now this rumor about Russia, I have to ask this question: how do you deal with the possibility that one day Bitcoin could be illegal in most countries?
Is it a possibility?
It is likely/unlikely?

All opinions are welcome.

Regards.

[Fasdartin]

Hi,
First of all, I am a holder, and Bitcoin is for me is an investment, I intend to hold for at least 5 years, so the question asked in the topic title is the last thing in the world I want.
That being said, with China, and now this rumor about Russia, I have to ask this question: how do you deal with the possibility that one day Bitcoin could be illegal in most countries?
Is it a possibility?
It is likely/unlikely?

All opinions are welcome.

Regards.

Its impossible to ban the bitcoin in all country. Because there's one country who made thw bitcoin and im sure about that. If no country create the bitcoin then why as of now the bitcoin is alive ? Im sure that the givernment of that country is make a way to sure the bitcoin can't destroy

[BanaanBakje]

They cant ban bitcoin, its the same as banning internet

[Singwala]

It depends on what bitcoins do to us. And what this impact on us is. Because if bitcoins are good then the government will not stop them anymore. Actually the bitcoins are famous for many lives that have changed it so it's less likely to disappear

[iamTom123]

Hi, First of all, I am a holder, and Bitcoin is for me is an investment, I intend to hold for at least 5 years, so the question asked in the topic title is the last thing in the world I want. That being said, with China, and now this rumor about Russia, I have to ask this question: how do you deal with the possibility that one day Bitcoin could be illegal in most countries?
Is it a possibility? It is likely/unlikely? All opinions are welcome. Regards.

Well, if there is one thing I learned in this world it is that nothing is really impossible...anything can happen as far as Bitcoin is concerned in connection with the many governments who are right now looking at Bitcoin with unkind eyes. They can ban Bitcoin or rather the use of Bitcoin in their own territories and they  have the power to do it as shown by what China did last month. Of course, technically they can't stop Bitcoin because they do not own the Bitcoin network but they can put regulations making it hard if not impossible for their citizens to deal with Bitcoin.

Now, what can we do to help? Essentially, there is nothing we can do. The power of the government does not belong to us even if we can ideally say that all power emanates from the people (this power can be good in election days and not really all the time). Not all countries fully subscribed to the democratic ideals people in the West are upholding and practicing. This is a big reality we have to contend with. We can't create our own government and declare Bitcoin to be fully legal. Or maybe not for now.

We can only hope that those countries already opened for Bitcoin will continue on supporting the cryptocurrency bandwagon and will not change their mindset about it. Plus we do expect that there would be more countries to join us here in the Bitcoin family -- maybe by next year. As for you, just continue on HODLING to your Bitcoin because for sure it is now travelling to the moon.

[Cloud27]

The form of government will be my basis on how will Bitcoin will survive and not be banned in a country. There is a high possibility that Bitcoin will not be banned if a country is practicing a true democracy. In my view, a country that people have freedom to choose is likely will not ban Bitcoin.

[davis196]

Hi,
First of all, I am a holder, and Bitcoin is for me is an investment, I intend to hold for at least 5 years, so the question asked in the topic title is the last thing in the world I want.
That being said, with China, and now this rumor about Russia, I have to ask this question: how do you deal with the possibility that one day Bitcoin could be illegal in most countries?
Is it a possibility?
It is likely/unlikely?

All opinions are welcome.

Regards.

I am not an optimist and i think that sooner or later this will happen and we have to be prepared.
This hit the bitcoin price for sure,but i don`t think that it will damage the blockchain that much.
Bitcoin will continue to exist in the darknet,but the btc price will be way too low.
The good news is that  bitcoin supporters can be found in most of the governments of the western countries,so they might try to stop such mass ban.

[Vendetta666]

One of his serious questions is that there is no accurate answer. Bitcoins are a bit of an internet so if you stop accessing it at the same time stopping the internet. Bitcoins do not control anyone so there is no way to stop it but I can see and catch the builder that Satoshi Nakamoto might have chances but you really find it hard to identify and see. So let's accept it and embrace because bitcoins can change the way of payment

[junoreactor]

Thanks for all the constructive replies.

I guess, our hopes are in western countries, said democratic, such as US, UK, France, Germany, Northern Europe, Australia, Japan. etc
I think if in those countries alone, the demand for Bitcoins grows, it should be still good news for the investors we are.

Those countries should find a way to benefit from Bitcoin (taxes...) rather than banning it. I hope so!

[Topper]

Lets assume the US government wants to ban BTC. The supreme court already ruled, that software of any kind is protected by the 1st amendment. There are nine categories, which are not considered 'free speech" ( http://www.newseuminstitute.org/about/faq/which-types-of-speech-are-not-protected-by-the-first-amendment/ )

In conclusion: Transfereing BTC from one wallet to another can not be banned under current US law. There are also technically problems to ban BTC. The wallets are anonymous (if you cloak your IP/dial-in via anon-service) so in order to ban BTC, the US government has to detach themselves from the internet, build an own national intra-net and ban anon-service. That way, they can see who is using BTC and prosecute the users of it.
That will never happen, if you ask me. What the government actually can do is banning BTC from the exchanges so that you can't trade BTC into fiat currencies. That is all they can do, as far as I'm concern. But of course they can pull something illegal. Executive Order 6102 is considered unconstitutional today, it forbid US citizen and foreigners to own gold from 1933 to 1974. So this might happen again in the future.

[yohananaomi]

Hi,
First of all, I am a holder, and Bitcoin is for me is an investment, I intend to hold for at least 5 years, so the question asked in the topic title is the last thing in the world I want.
That being said, with China, and now this rumor about Russia, I have to ask this question: how do you deal with the possibility that one day Bitcoin could be illegal in most countries?
Is it a possibility?
It is likely/unlikely?

All opinions are welcome.

Regards.

the possibility could happen, but whether all countries will do that, I feel .... will not, because there is also a demanding and legal state.
hopefully not affect the sale of bitcoin !!

[bitorama]

when some countries ban bitcoins, some other countries will accept it to have the hot money in, unless all the countries come to an accord, that's impossible.

[junoreactor]

when some countries ban bitcoins, some other countries will accept it to have the hot money in, unless all the countries come to an accord, that's impossible.

Sounds like great logic here hope things will be fine. We will all immigrate to Belize if we need to, lol.

[whoisyourking]

There is a possibility that bitcoin will be banned in many country. but observe bitcoin in your country if there is lots of use in bitcoin in your country the possibility is low to become banned. like in my country there is mobile app using bitcoin to buy stuff in many online and physical stores nation wide. As a investor this one of the big risk you will be facing in the future.

[Wipro]

when some countries ban bitcoins, some other countries will accept it to have the hot money in, unless all the countries come to an accord, that's impossible.

Sounds like great logic here hope things will be fine. We will all immigrate to Belize if we need to, lol.

You no need migrate anywhere buddy. Since, government of china banned bitcoin still many chinese ebay resellers are selling the miners and other products related to bitcoin. So we can use in the same country converting it into a fiat cash with the available traders. They banned the sites in country only but the domain created under different country cannot be controlled by China and all. There is no ban will be happen in future still recently next country to china. India made it is a legal money.

[greeklogos]

Do you ever heard the saying "Forge the iron while it's hot"?
I am planning to live like that. I am watching how new and new countries joining to regulation of cryptocurrencies which consists in ICOs banning and banning of exchangers, but I am going to make bitcoins and sell it and trade it while it didn't come to my country. Simply. And after I will see.

[junoreactor]

when some countries ban bitcoins, some other countries will accept it to have the hot money in, unless all the countries come to an accord, that's impossible.

Sounds like great logic here hope things will be fine. We will all immigrate to Belize if we need to, lol.

You no need migrate anywhere buddy. Since, government of china banned bitcoin still many chinese ebay resellers are selling the miners and other products related to bitcoin. So we can use in the same country converting it into a fiat cash with the available traders. They banned the sites in country only but the domain created under different country cannot be controlled by China and all. There is no ban will be happen in future still recently next country to china. India made it is a legal money.

Yes, good point Wipro

[romecheo]

Banning Bitcoin across countries?, I haven't see it will happen, there's a possibilities, however, it was too small to consider.

Even half of this world would banned Bitcoin, it won't stop Bitcoin enthusiast, investor and fanatic.

[Heyyyrenz]

We don't know for sure but i think it will depends in the impact of the coin to a specific country. Let me give you a good example:

If a country uses bitcoin and also the official uses bitcoin and they steal a money in the government and use bitcoin to launder it. It's possible right? We all know that if you go in the cryptocurrency or at least in the internet you're anonymous.

Also if all people in the country tries to work all in the cryptocurrency they're not going to receive a tax payment for every person who works and earns money.

This all just my ideas and opinion.

[Pursuer]

you can never be sure. what you can be sure is that nobody should care what the countries do. bitcoin is DECENTRALIZED! and that means something...

with China, and now this rumor about Russia, I have to ask this question:

you are asking the wrong question. you should be asking what China and Russia really said.
China said they are banning ICOs and they also closed down a couple of exchanges that did not have any license and were laundering money.
Russia said ICOs are causing a lot of financial damage, they also said cryptocurrencies are dangerous, they also said cryptocurrencies are the future and should be legalized. they have not done anything about any of it yet though. they also closed some exchanges.