Can any government ban Bitcoin?

[Robert Ryan]

It is unlikely for now. But there are countries where bitcoin is banned. They ban it when bitcoin was not so popular. But at present time it's rearly possible that any country would ban bitcoin.

[sheryl26]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Yes bitcoins can be banned by the government and as a matter of fact the Chinese government already banned bitcoins in their country and i do not have an idea if it is banned till now but those banning makes the bitcoins fall. I that time bitcoins are struggling and a lot of people are panicking and selling all their bitcoins but look what happen after a month bitcoins came back with a tremendous rise and those people think that the bitcoins are that easily to destroy they are all wrong

[Chuokie]

Well..yeah...
But only they can do it on the field they cover...
But not on everything....

[Pain Packer]

Of course they can. If they the government thinks that bitcoin is a threat to the financial system of a country, they can banned any transaction and use of bitcoin. But to think that it is now opposite. Because of its popularity, they want to regulate the flow and use of bitcoin.

[Fatemablabla]

Yes they have this right. The are the ruler so of course they can do it. I am not sure but this kinda banning stuffs maybe causing problems in the road of becoming more famous of bitcoin and maybe it is faicing price fall. I dnt knw why they do this. This is an asset. So we all should make its best use.

[Zrs]

in my point of view,i am not agree that bitcoin can be banned by government.as bitcoin is peer to peer network,it is quite impossible to ban bitcoin form this world.as long as we give value to bitcoin,it will exist forever.

[ihsanskanzaone]

Of course the government can ban the use of bitcoin but it must be through legislative decisions, the government can not directly ban the use of bitcoin without going through the process. But unlike the communist government they organize the nation's economy so tightly that bitcoin will surely run counter to their rules so that most of the communist countries ban bitcoin.

[nagatraju]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

They could ban it in the sense of declaring possesion of Bitcoin illegal.
However they can't really block it. It's simply not possible to do without blocking the Internet.
Even if they try to seriously cripple the experience by blocking all Bitcoin-related services, people can always use some sort of circumvention technology like VPNs or Tor to access such services.
I'd say that it's pretty much unstoppable.

That's what i feel too. Banning the Bitcoin altogether is not a possible task to be performed. While all we can say is there can be some legislations to put on certain restrictions on its free usage.

yes, you are right, the government can restrict usage and it will be sad because people will still use bitcoin...and eventually they will get to commit a crime...

[zgrdyg]

I think any government can not ban Bitcoin but they can tax it of course. Maybe I'm mistaken but Australia has taxes over Bitcoin Gainings.
Besides taxing issues, Governments can restrict to access Bitcoin Markets in the country or worldwide by limiting the internet access to those websites.
In Turkey we lived that restrictions sometimes in Youtube or Twitter.

[smile1218]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

Yes any government can ban bitcoin in their respective countries just like what Indonesian President did He ban bitcoin in their country as per news that the purpose of banning is to protect their economy and their currency. It depends on the government of each country if they will allow the existence of bitcoin in their country.

[JerryJam]

Do not forget that bitcoin is not only a currency. This technology. Nikoiu knows what will end this excerpt. It is in the interests of the state to develop and modernize innovations. Given the trend towards bitcoin growth and its increasing popularity with the government, it is not advantageous to prohibit bitcoin. More than that, some of them themselves keep their assets in bitcoins and others

[tumokatok]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

until now I do not know how the government forbids bitcoin in his country, I know there are currently some countries whose governments have not legalized bitcoin as legitimate currency in the country

[sino22]

Bitcoin has been around the borders of financial markets for less than a decade, but is slowly gaining importance as an alternative asset class.
Can the government of any major country step in and do the unlikely?

until now I do not know how the government forbids bitcoin in his country, I know there are currently some countries whose governments have not legalized bitcoin as legitimate currency in the country

to me the government could have banned bitcoin. because the government is the administrator of our country for the country to grow well.
every government also has the right and authority to act whatever they want.

[malika]

Banning of bitcoin in one country is the discretion of its government. There are government entities wanted to ban bitcoin to protect their currency as well as their economy just like china did. But of course for sure many investors would still invest even their government ban the coin in their country for sure they will find a way to invest.

[pekobites]

They can try

But they can't stop it

[Xenophoto]

I am happy to announce to you guys that the government cannot ban bitcoins. Bitcoin resides on the Internet and the Internet is open for all. You can do whatever you want but it's possible that it's not the case anymore because of the removal of Net Neutrality.

Right now, though. The government simply cannot do anything to effectively ban bitcoin. One thing that they might do though is to put tremendous tax on exchanges. But even that might still not work out because obviously there will be a country that's going to be bitcoin friendly and not put huge tax on bitcoin cash outs. Bitcoin businesses are just going to move their agency there and that government will make money from them. It will be a winwin situation and it's nothing but loss for the government that shoo-ed away bitcoin companies.

[Pink Panda]

Now here in our country .our government and banks are slowly enclosing those who are have accounts on banks that have related or having a withdraws or deposits using bitcoin..Dunno what their reason or their strategy ..maybe they are afraid of bitcoin now..but Im afraid that bitcoin will be fully illegal in our country..it is bitcoin is our income and financial support.and even our way to succeed our dream

[Rossy Akbar]

Well, of course because bitcoin isn't handle by the government. So, if there any single thing that opposite with the governments rules will definetly get ban, it sames like you broke the rules you get the punishment.

[Mr.John19]

Absolutely Yes! Government have the power to regulate the financial system in their area. And if there are enough complain about people getting scammed in ICO or any related event in relation to bitcoin or cryptocurrency, the government could issue a warning and then total restriction to doing business is the said technology. There are four countries as I could recall that ban or prohibit using, trading and mostly mining bitcoins.

[weblouartisan]

Yes it is possible for bitcoins to be banned by the government. There are a lot of countries who are banning bitcoins because they are avoiding problems like illegal transactions, Most of the government are avoiding drug laundering or selling of guns and it is sad to say but this is all possible with bitcoins.