Goverments to go AGAINST Bitcoin

[thet]

Is there any chance goverments to go against bitcoin if they see its something against them??

Government will not allow to use bitcoin because it is decentralized and they cannot use their power to control the transaction of bitcoin.

[Hamstead]

Not all governments  are getting hated to bitcoin,  in fact they just push their people to be a part of this largest and fastest growing investment just like in Japan,  Vietnam. Though some countries are keep silent towards on this but I think they are just supporting  this because bitcoin is really a big help for their people in terms of financial. And they realized also that bitcoin  will have a huge potential to help their economy and it will make a big changes in our life as we go through it.

[JaredStein]

Of course governments are going to go against Bitcoin. It goes against everything the powers that be have built. Sure there are a majority of people that aren't part of what really goes on behind the scenes and they have families so eventually you will see people start to leave the old system and enter the new system which is much safer and built on a universally immutable ledger.

[ajmapalo22]

Yes governments can go against bitcoin in fact right now mang of them are in that position they just can't go over because of the increasing demand in bitcoin and tge fact that there are some countries supporting bitcoin. Another thing is that I think government are still looking for the solutions so they can take the control over bitcoin transactions within their area  covered which is up to this time is unresolved but just in case surely government if they can't control bitcoin they may probably banned it

[iluvpie60]

Is there any chance goverments to go against bitcoin if they see its something against them??

Governments certainly can go against bitcoin and can ban exchanges from accepting fiat currency to but BTC or other altcoins. A lot of countries are coming around to making bitcoin legal though. Depending on what country you are in it varies greatly.

China seems to ban and unban bitcoin a lot, which i think is very comical. They can't exactly ban someone from it if that person is using a VPN and goes around firewalls. It would be really hard for an exchange to operate legally though in many countries, as the burden is very great on licensing.

[jhongzjhong]

Is there any chance goverments to go against bitcoin if they see its something against them??

Most likely yes! Government will not support bitcoin directly because it is against their centralization policy. Government wants to control every kind of money circulation in their country. However, bitcoin is against that idea of centralization. So this is against the government policy. Bitcoin circulation can't be controlled by any government which is again against their idea. So it is least likely a government will support bitcoin. Not every government is progressive like Japan.

Now that im thinking about that. What about drug lords? Its something against them. If like in 20-30 years Printed money are not existed. And everything is digital. Then i guess they wont be able to exchange drugs and money. The only they gonna do it its like ex change based on value. like 1kg cocaine for a car.(example)

Maybe it will happen that druglords or other criminal activities will used bitcoin, because bitcoin did not trace every transaction they have by our government. Being decentralization of bitcoin our government nothing do with people who used or hiding their personalities. But we hope that it won't be happen that they abused bitcoin using criminal activities.

[glennmatthew]

Governments can't do much to stop cryptocurrencies at the moment. In most western countries there would be massive protests and the people would not allow it.

They will not ban it, they will regulate it to make it safe (and taxable )

[g4vinshreds]

There's a chance of course,  but most governments probably don't honestly care as long as they can collect whatever taxes they want when bitcoin/altcoins are transferred to fiat.  At the worst,  I feel that they might try to somehow tax bitcoins/altcoins.

[sheenshane]

Being of a decentralized bitcoin no bodies behind this that you can blame, so maybe there's a point that government trying to against bitcoin but they nothing to do just to accept. Besides bitcoin help people to support their financial problem and also help the economical growth of our country. Lately here our country announced by our local media on august 21,2017  that bitcoin recognized and regulate by our central bank virtual currency exchanges.

[GeorgeEden]

There's a chance of course,  but most governments probably don't honestly care as long as they can collect whatever taxes they want when bitcoin/altcoins are transferred to fiat.  At the worst,  I feel that they might try to somehow tax bitcoins/altcoins.

I guess taxes is the answer , thats the common solution i see also.

[Domenc]

I think nothing new in this, things like this have happened in the past. For example, countries where Bitcoin is declared illegal, saw Bitcoin as a potential to illegal activities and thought it may harm the economy of the country and declared ban on it. Government are the main power holders of country and if things go against them they will surely take every possible step to eradicate the problem, whether it is for benefit of citizens or not. They first look at their own benefits.

[jhoesuahubilla]

Is there any chance goverments to go against bitcoin if they see its something against them??

There are some countries in the world that already banned bitcoin in their place. There are also some countries that legalize it. The government has the power whether to ban or to legalize it in their country. But those countries who legalize bitcoin, have a better and more developed economy.

[Hakkerman101]

There are countries that consider the crypto currency to be illegal and try to prohibit or restrict its use (Bangladesh, Bolivia, China, Ecuador, Iceland, Indonesia, Kyrgyzstan, Lebanon, Russia, Thailand, Vietnam, etc.)

As the crypto currency is spreading, governments around the world are wondering whether it is worth developing a legal framework to actively introduce digital currency into the economy. But for the time being, some countries have not agreed to give a chance to bitcoin, since they can not apply existing laws to their regulation, which depend on the definition of the concept of crypto currency in each individual country. Others preferred to prohibit bitcoin, and some even tried to create a bill for this purpose. In any case, it will be quite difficult to eradicate the crypto currency, because of its decentralization. So, of course, people have enough time to feel all the benefits of digital money, even if the legal status of bitcoin remains uncertain.

[figmentofmyass]

Is there any chance goverments to go against bitcoin if they see its something against them??

of course. for example, vietnam's central bank announced last month that cryptocurrencies are not a "lawful means of payment." they also said that the "issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited."

it sounds like they've made it a criminal offence. i expect to see similar actions taken elsewhere, particularly by smaller and/or more autocratic governments. i heard rumors recently that morocco's government is planning a similar ban.

Honestly, the U.S. government is already going against it.

how so? the CFTC just formally allowed ledgerX to register as a BTC swap execution facility. and fully regulated CME futures markets are expected to open next month.

if the US government were moving against bitcoin, why would they be approving new, regulated markets for bitcoin speculation?

[xBitHodler]

There have been already quite a few governments who decided to ban Bitcoin. The most recent example is China which doesn't allow you to trade Bitcoin there. The rest of the countries are small ones with big economical problems. People from those countries started to invest in Bitcoin because its value is constantly growing unlike their national currency.

[lvincent]

Some government act against bitcoin like banned it or something  i think they're just scared because they can see the potential of bitcoin but some government see it's potential and use it instead. I think the government that use and see the potential of bitcoin will gonna have a brighter future than those who goes against it.

[DARKANGEL6415]

Government will definitely fight Bicoin because of the decentralized  nature of Bitcoin. Anything that the government will not control they will fight against it. Government are losing taxes in all the transaction that involves bitcoin and they do not like it.

Well i habe to say i agree with you on this statement to some degree. Governments will always try to control what they don't know or understand. Now i don't know about other countries but in the USA i know the internal revenue service has been taxing people on bitcoin for like 4 years.

[ASHLIUSZ]

Already this has been taking place in some countries, but majority of the governments show neutral response to the cryptocurrency and bitcoin in specific. Few governments tend to make it an regulated asset, so that it is possible to tax it and government feel benefited like other forms of properties, stocks, gold trade that is taxable.

[GXHPP]

They might prohibit BTC in some countries in which they is no system to speak of (where the president and officials can do whatever they want with no legislative restrictions) mainly because of the possibility of exchanging their currency and BTC directly, possibly lowering it's value.

[lamugo09]

Yeah many countries are against the bitcoin since taxation on country is lost and money doesn't revolve through banks which is what will bug down a country's economic status.