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Author Topic: Can any government ban Bitcoin?  (Read 3208 times)
Markzuckertion
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January 16, 2018, 03:38:32 AM
 #341

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?
All government can ban bitcoin anytime but they can't stop bitcoin. The effect of bitcoin banning by government is not for long term , investors will always buy bitcoin because they thrust that bitcoin has good future. We use bitcoin anonymously so there is no problem with that.

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January 16, 2018, 04:05:52 AM
Merited by sunshinelavapie (2), NeonFlash (2), patriknilen (2)
 #342

Yes, of course, this can occur, but I think it is very unlikely right now.

EU will Not Regulate Digital Currencies like Bitcoin: http://www.newsbtc.com/2016/01/26/eu-will-not-regulate-digital-currencies-like-bitcoin/
Federal Reserve Chair: US Central Bank Can't Regulate Bitcoin: https://www.coindesk.com/federal-reserve-chair-us-central-bank-cant-regulate-bitcoin/
China: Banned facebook, twitter, snapchat, gambling, people in the Chinese military are not allowed to access the internet, google,... So I think it is an achievement for BTC that it is "banned" in China  Cheesy
yes, I agree with your opinion, it will happen but not today, because today bitcoin is getting stronger.
but I would argue that it will happen if someday the bitcoin weakens in dying conditions. and it's hard to predict ..
There are many governments that prohibit Bitcoin, in my opinion they prohibit Bitcoin because they are weak or economically developing countries, it is possible that Bitcoin in their country will affect the economy but in the future There will be a lot more water involved in Bitcoin because Bitcoin is developing very well
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January 16, 2018, 04:13:08 AM
 #343

They can not actually ban it by making it unable to to be reached, but however any state in the World can perfectly make it outlaw and then sentence anyone who would be caught using it. Hopefully the fashion is more to the legalisation lately than the ban.
mr.niwangz
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January 16, 2018, 05:18:25 AM
 #344

yes there is a possibility that the government will ban bitcoin, but it is difficult to do because while it takes more people interested to invest in bitcoin so they have freewill to banned bitcoin because they have the authority to enforce.

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January 16, 2018, 05:23:31 AM
 #345

Bitcoin is not owned or controlled by any government or corporation. Bitcoin network is peer to peer and fully decentralized.
Yes, i Agree with you bro that bitcoin is not owned by any government. A certain country's government can ban the exchanges of cryptocurrencies only. If your country declared that it had ban the exchanges of cryptocurrency then you can't convert your coin to your local fiat.
EvieeHist
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January 16, 2018, 05:47:37 AM
 #346

I think that if the government just forbids bitcoin it can, but that does not mean it can stop or eliminate the bitcoin from the community, given the fact in the market and the number of its developers continue to increase, I think one day the current state has not legalized bitcoin will be legalized by demand from society at large.
dvillier
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January 16, 2018, 06:04:05 AM
 #347

Each nation on the planet can boycott Bitcoin in its locale however they can not by any means stop its subjects on the grounds that there are such huge numbers of approaches to get to Bitcoin if individuals demand utilizing it.
I don't perceive any purpose behind any legislature on the planet to boycott Bitcoin on the grounds that this isn't an illicit sort of computerized cash despite the fact that terrible individuals can do diverse kinds of digital wrongdoing with it however that isn't a legitimate explanation behind me since FIAT cash can utilize likewise in doing awful action.
Satry
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January 16, 2018, 07:20:11 AM
 #348

I do not think any government can ban bitcoin entirely as this is a de-centralized platform.

You're wrong. Because some countries have banned the bitcoin and they have different reason why? For example the country of Morocco, Abdellatif Jouahri, governor of Bank Al Maghrib, said at press conference he said that bitcoin is a not a currency but a financial asset. He also warned of its dangers and called for a frame work to be put in place for consumers protection.
But there are many countries that bitcoin are legally use.
rodgelampis
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January 16, 2018, 07:25:35 AM
 #349

I think one day the current state has not legalized bitcoin will be legalized by demand from society at large.yes there is a possibility that the government will ban bitcoin, but it is difficult to do because while it takes more people interested to invest in bitcoin so they have freewill to banned bitcoin.
kuncimobil
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January 16, 2018, 07:27:19 AM
 #350

I think the government can ban bitcoin if they think bitcoin is harmful and could make a loss or may have been used for crime
Rrtt
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January 16, 2018, 07:42:14 AM
 #351

Yes, any government can ban bitcoin but only on the trading side. They can do whatever they want, if they see cryptocurrencies as a negative threat to their economy then they can always applies laws against crypto.
Scor1937
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January 16, 2018, 07:47:02 AM
 #352

Yes any major government like the government of USA,China,etc can bann bitcoins considering its negative side. Bitcoins are the best example to earn profits online and i guess, bitcoins should never be banned but bitcoins are also used in various fields like buying/selling drugs, weapons, hitman service, etc as a medium of payment. If the government manage to stop all this then surely bitcoins wont be banned but at the current situation bitcoins are on a riskier side which can be banned by any government.
Maryverycool
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January 16, 2018, 07:50:26 AM
 #353

Bitcoin is not allowed to trade because bitcoin transactions are anonymous, and transactions do not pay taxes and harm the interests of some governments.
Marry Finch
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January 16, 2018, 07:56:01 AM
 #354


For some reason I am sure that no government (except dictatorships) will go to extremes by banning bitcoin.
In the era of globalization of the Internet economy, some governments have not enough power and power to effectively combat decentralized crypto currency. However, it is worth paying attention to how the Chinese authorities are trying to control the Internet.
If any government decides that the trade or possession of bitcoin is illegal, then the question immediately arises: how can this ban be implemented? After all, the government will not be able to confiscate the bitcoins from the owners if they do not hand over the private keys themselves.
bright4mech
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January 16, 2018, 07:57:27 AM
 #355

Government do nothing about it. I mean is unstoppable currency, is only you and I. I mean the users of btc say no, and I believe no one here or btc users we say no. Btc has changed people life, even what so called government has not think of. For me btc come to stay for ever.
Thyristor
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January 16, 2018, 08:12:02 AM
 #356

Of course any countries government easily can ban Bitcoin.Because government is very powerful always in this country and all decision is depend on government.Most of the government announced Bitcoin is ban or illegal i know.
jbarcenas18
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January 16, 2018, 08:22:20 AM
 #357

On my own side, yes, any government can ban Bitcoin especially if they see that the government cannot benefit from it and can cause chaos to their people. Now in my country, the SEC (Stock Exchange Commission) is eyeing people who are engage in cryptocurrency trading.

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cposeidon
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January 16, 2018, 08:31:40 AM
 #358

Of course any government can ban the usage of bitcoin anytime they want, but they cant do that without a good reason.
Lago_V
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January 16, 2018, 08:41:38 AM
 #359

The government can ban. Plus, they may not recognize it as a currency at all.
snekinmyleg
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January 16, 2018, 09:22:27 AM
 #360

They can not actually ban it by making it unable to to be reached, but however any state in the World can perfectly make it outlaw and then sentence anyone who would be caught using it. Hopefully the fashion is more to the legalisation lately than the ban.
There is no government that can prohibit Bitcoin from operating globally; they can ban people from using and participating in Bitcoin in the country but in fact Bitcoin is still in the public domain, government can not handle the thing.
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