Can any government ban Bitcoin?

[EllaPonchik]

Perhaps Bitcoin may be banned at the country level. But for some country to somehow affect other countries. no. This is impossible in principle.

[teejaymuna]

A government can only pass a law on its people against the use of Bitcoin. It cannot ban Bitcoin from gaining assess.

[logicgate]

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.

And this is being happened all around the world, just see there are only few countries, you can count them on your fingertips, and they have allowed their citizens to use bitcoin in that country. Else, majority of the governments in all countries have just banned bitcoin. Reason is quite simple and you have already told that, things are against the nature of government policies, so they banned it.

[ubeng07]

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.

And this is being happened all around the world, just see there are only few countries, you can count them on your fingertips, and they have allowed their citizens to use bitcoin in that country. Else, majority of the governments in all countries have just banned bitcoin. Reason is quite simple and you have already told that, things are against the nature of government policies, so they banned it.

yes in some countries this is really happen and bitcoin can now banned in country wherein we can say that to wealthy and they have the power banned everything that they wanted to banned for like what was happen lately so if you are on the country were you are able to take the freedom of using now bitcoin.

[oaz7t]

Bitcoins has no central authority over it, its is just simple peer-to-peer transaction and as it is a cryptocurrency it cant be controlled by anyone.
however, a government can ban bitcoins.
a few countries have already banned bitcoins but that didnt have a greater effect on it and still bitcoins is growing stronger and its prices keep on increasing.

[boyshx]

No government wish to ban such a popular currency only because it is creating competition to their traditional currency. Its duty of government of country a country to protect the interest of its citizens. Bitcoin have some serious loopholes and disadvantages that is creating some security issues. Bitcoins continuously rising price is attracting many illegal activists towards it. So to prevent such activities, countries like Australia, Japan, Canada have banned and regulate bitcoin currency.

[emberbekas]

The government can ban the use of bitcoins as currency, but I see no reasonable reason to ban the use of bitcoin as an asset. At least that's the impression I received from my government policy.

[hernandezrnh]

Yes. they have the power to ban bitcoin if they proved that it may affect the security and stability of their country then they will ban the use of bitcoin.

[websoftwareengineer]

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 obviously, That is the reason why other investors cannot spend their money on bitcoin, It is because of hesitation if bitcoins will really be successful someday since other country are banning it because it really affects their industry or business of other people, More likely are the banks is really affected when people are not investing on them but turning to bitcoins because the growth of their money in cryptocurrency is growing faster rather on a time deposit.

[Fredyink]

Can government ban drugs? They can try to ban Bitcoin, but they can suppress it.
They just want more control, but better option for them is to try to play the same game and not to do something what they can't do.

[selectaselectine]

They can since they are the person responsible in implementing the rules and laws of a country. But if they wish to ban Bitcoin, they will have to get through a lot of process since it has become more popular through the years and many people have started using it.

[smokeydog]

Bitcoin is not owned or controlled by any government or corporation. Bitcoin network is peer to peer and fully decentralized.

That means nothing.   So you have a bitcoin, you can't buy anything with it.  You cash in at coinbase.  The US Congress passes a law requiring any exchange to issue a 1099 form for any conversion to cash.  What record do you have proving your basis price?  Don't have any,  bingo, the IRS says you have a 100 percent capital gain.  You can bet that legislation is in the works to get access to capital gains taxes on bitcoin transactions.  Buy a car and use bit coin, the dealer will be required to report the transaction.  Buy property with bitcoin, the transaction will be reported to the IRS.  Think carefully people.  Tax is one thing, tax and penalty at 20 percent interest is another.

Anyone  who thinks they can get around a power house like the US IRS is making a big mistake.  Drug dealers fill prisons and so can bitcoin tax evaders.  About all Bitcoin is good for is blackmarket transactions and, that is actually very useful.   

[boyptc]

Government has the power to eliminate, stop and ban something that they are against off. And others did their initiative already and they started to ban bitcoin because they can't just see the positive part of it of being accepted into their country.

[ghost424]

They have the power to ban Bitcoin in their own country because it is only where they can implement their rules about the usage of Bitcoin. If the government finds the users of Bitcoin abusive in their country, they might think about banning it.

[deviant99]

Probably yes, as long as there are threat that seeing the government out of it. But it is impossible, because government can use it too. Bitcoin is not align to government, the government itself can ban bitcoin on to using by people around to it.

[panjul07]

I have to say that there is no government has the power to ban Bitcoin, the most possible thing they can do is to ban their people to use bitcoin by issuing a regulation against bitcoin. Even if they do such thing, their people will be still able to access/use bitcoin as it is an online thing unless the government ban the internet as well

[brengoskandel]

on what basis, what because the government can not levy a tax is forbidden, or something else ..
is not this investment in the responsibility of the investor alone if there is a loss, and why the state should ban it is irrelevant

[magz]

Only the government have the rights or have the authority to ban using and buying Bitcoins. They cannot destroy Bitcoin because it is a program that is fixed. They can only destroy it by banning it.

[smokeydog]

I have to say that there is no government has the power to ban Bitcoin, the most possible thing they can do is to ban their people to use bitcoin by issuing a regulation against bitcoin. Even if they do such thing, their people will be still able to access/use bitcoin as it is an online thing unless the government ban the internet as well

Governments have the power to legislate and that's all they need.  Governments can require any transaction using bitcoin be reported and the person transferring the bitcoin can can be made to show proof of the price at which it was acquired.  Put money in a checking account and the bank must issue a 1099 if a person receives any interest.  Us a bitcoin anywhere in non-black market commerce and the government will have the power to regulate it.   Bitcoin activity in blackmarkets can't be controlled but that may not be of much use to most people.   As the US keeps issuing more and more Fiat money, bitcoin could continue to rise but, the day it is ever transferred to buy something or pay for service, capital gains taxes will be due.   Engage in a transaction and do not report your gain and you are placing yourself in jeopardy.  Take your chances.  Do what you want but, you must know the law and know the consequences if you choose to ignore it.

[guoyu78]

the way i see it, they all have the power to do it if they see its a threat to the country. Well certain countries have done it.
but of course, this still depends on the type of government the country has

Countries are not to deny bitcoin almost but they have also not yet been endorsed bitcoin being a legal currency in their countries nor bitcoin requires endorsement of a country/institution, but it doesn’t mean that a government can ban bitcoin in the country.

Bitcoin has kept continue business across the world by well of the masses although some countries has banned on exchanges but they cannot imprison bitcoin completely because bitcoin has spread virtually.