When will govt's outlaw cryptocurrencies?

[QuantumKiwi]

The big question, when or IF governments outlaw crypto-currencies?

When do you think it will happen?

Even if its decentralized, do you think govt's will start attempting to outlaw it?

[Mike Christ]

This is a common question   Honestly, if the gov wanted to, and made cryptocurrency illegal, it would put pressure on the biggest businesses to not use it.  It wouldn't kill Bitcoin, but it would certainly stunt its growth.

[BitAddict]

I don't think governments will outlaw cryptocurrencies, it would be impossible to enforce.  I would have thought that it is more likely that they would try to regulate them to collect more tax revenue.

All goverments no, buy USA probably yes. First they will try to control it, if they can't... you can guess what.

[DreDri]

I'm sure they'll outlaw it as soon as they believe it's half-feasible. Even if they can stop some from barely stepping outside their near-absolute control, they'll take that compromise and just keep brainstorming..

[veteranBtc]

I don't think this will happen. It's like they outlaw the internet
Weird.

[Drezi]

As it has been said countless times before, enforcing a ban would be impossible and would most likely cost more than they would recoup in taxes.

[crumbs]

The governments won't outlaw cryptocurrencies -- that's both impractical & unnecessary.  If and when cryptos start being perceived as a threat,* US government will simply regulate Bitcoin to dollar exchange.  If these regulations are made strict, difficult to comply with & consistently enforced, Bitcoin will die a natural death.  The logic behind this is elementary:  Unlike other fiat currencies, Bitcoin has neither an economy nor a military to back its value.**

If Americans don't protest being felt up each time they board a plane, there certainly will be no objections to curtailing "hacker doper terrorist child raper currency." The nice lady from FinCEN already trotted out the children, if you think i'm stretching it:

"However, I would like to close with a challenge to our great innovators: extend your focus to devising creative solutions for preventing the abuse of virtual currencies by criminals, such as those who would exploit children."  Kid you not:  http://www.fincen.gov/news_room/speech/html/20130613.html

*At this point, Bitcoin is no more than a curiosity -- $1 bil. market cap.  Many *individuals* make more than that in one year.  When it comes to gov. spending, that amount doesn't even register.  NYC yearly budget is seventy times that @$70 bil, just to give some perspective.
**Before arguing that budding Bitcoin economy already exists, remember that web-storefronts selling goods for Bitcoin *must* cash out to pay their suppliers, same goes for SR merchants.

[Capitalism Prevails]

They haven't outlawed the Tor network and how could they?  It's too ubiquitous just like Bitcoin is too ubiquitous.

[giantdragon]

It is impossible to ban currencies, however U.S. and Germany govts could ban exchanges that don't "cooperate" (report to tax agencies and monitor for suspicious transactions).

[crypto-finance]

The big question, when or IF governments outlaw crypto-currencies?

When do you think it will happen?

Even if its decentralized, do you think govt's will start attempting to outlaw it?

As soon as they figure out it's going to destroy central banks and taxation. Which they may have already figured out.

...and their attempts will be futile.

[mairusu]

Think cryptos can do more for the gov't than hurt them, decipher a wallet's originating ip address bam blockchain.info is the nsa's new best friend.

[QuantumKiwi]

If the internet were to be cut off at from certain countries, Im sure there would be ways around it.

See the FBI hacked the tor network and exploited firefox browsers...

[Spendulus]

If the internet were to be cut off at from certain countries, Im sure there would be ways around it.

See the FBI hacked the tor network and exploited firefox browsers...

THE FIRST WAVE.

[manfred]

Cryptos never,
Cash as soon as possible but a functioning crypto infrastructure has to be in place first. cash is anonym.

[narayan]

That'd be as successful as the War on Drugs.

[rifter390]

I don't think it matters what they say is legal or not. What makes you think they can do anything about it? Look how great a job they are doing preventing piracy, ddos attacks, fraud, child porn, and identity theft which are all more serious matters that should be taken care of.

Bottom line is just because something is made illegal don't mean they are able to stop it.

[Twilight_Sparkle]

I find it amusing that a lot of you thing that bad ideas or the fact that costs more than they would "make" in taxes, would even register as a "problem". It is not their own money they spend but yours, so why do they care about costs?

Of course goverments are gonna outlaw bitcoin. A few examples from the land of the "free":

banned alcohol
banned gold(!)
banned money not printed from fed
banned drugs/war on drugs