Faxmate
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December 13, 2017, 05:37:59 PM |
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Technically, governments can ban the Bitcoin-related activities such as exchanging it against fiat currencies but practically it is impossible to do that in my opinion. In worst case scenario, the governments will try to monitor the transaction history of users by accessing a database of the domestic exchanges to determine the tax liability but I do see a rare chance of levying the complete restriction as I mentioned earlier.
The government has full power and they can do whatever they want. the government now considers Bitcoin a threat because the very fast price movement of bitcoins could disrupt the stability of the economy in their country. So the public should be able to play an active role to be able to socialize Bitcoin and never use Bitcoin to conduct illegal deeds because it can make integrity and trust in Bitcoin is increasing. As many have feared, it seems that one of the main reasons the government has banned Bitcoin because of its nature can be a currency tool for trading illegal activities. This is a fact and indeed, bitcoin has become the main payment tool in use in darkweb for the purchase of illicit goods such as drugs, hijacking tools, etc. While on the other hand, the government can not monitor much less get access from every bitcoin account, because the purpose of created bitcoin is as freedom in owning independent bank without the intervention of the bank. There is no chance to ban bitcoin because when china ban bitcoin so its people were trying to get back bitcoin and still in some part of china they are using bitcoin because its role is very important in countries a good quality of bitcoin is that it’s for every one because rich countries and poor countries they are using bitcoin and every country they are expecting bitcoin because bitcoin is the changing currency and its very help full for everyone.
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DestiNeedCoin
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December 13, 2017, 05:42:46 PM |
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No. Bitcoin can't be banned because internet users will continue to have access.
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vinz7229
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December 14, 2017, 03:17:36 AM |
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I think a country's government has the power to bitcoin banning, but nobody can ban bitcoin for the whole world. So the answer can be yes, or not. Your question is too short, so I'm a bit confused to answer it. In essence, the government can ban bitcoin, but the world does not.
i think this topic is lack of specific details on what he/she wants to emphasize. anyway i agree with your thoughts. government have a power to banned bitcoin in their country just like what china did. but if we talk about banning for the whole world, that could not be happen, because bitcoin is a virtual crypto currency. even in a well experienced I.T. expert would having a hard time to stop bitcoin. specially now lots of moderator for ICO's putting a strong security so that hacker can not easily enter to their system.
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migolmigol
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December 14, 2017, 03:22:03 AM |
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Actually no. Because no one regulates it and therefore no one can stop it from operating. And technicallly, it does not violate any law of different countries. But some countries are prohibiting the activities of Bitcoin, but not totally ban. This is because there are several illegal activities that are happening involving the transactions of the use of Bitcoin. They tend to seize bitcoin instead of catching the criminals who are involved in those activities. Bitcoin is not the reason. Whether Bitcoin exists or not, those illegal activities will still operate unless they were totally caught.
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Heo
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December 14, 2017, 03:23:51 AM |
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Totally ban bitcoin ? No. But they can ban you for mining bitcoin. Yes.
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maxj57634
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December 14, 2017, 03:31:59 AM |
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Actually no. Because no one regulates it and therefore no one can stop it from operating. And technicallly, it does not violate any law of different countries. But some countries are prohibiting the activities of Bitcoin, but not totally ban. This is because there are several illegal activities that are happening involving the transactions of the use of Bitcoin. They tend to seize bitcoin instead of catching the criminals who are involved in those activities. Bitcoin is not the reason. Whether Bitcoin exists or not, those illegal activities will still operate unless they were totally caught.
Bitcoin has been ban in many countries now and so as other alt coin, these governments are banning bitcoins use,trade and transaction, its not just about illegal activities that they are worried about its about how their people can hide their wealth over bitcoin making them hard to pursue over taxes.
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globalking
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POINTPAY
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December 14, 2017, 03:33:14 AM |
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no, it cannot be a ban every country have to accept bitcoin there is no other solution bitcoin solves the worlds biggest financial problem.
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RockBar0
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December 14, 2017, 03:35:43 AM |
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Bitcoin can not be banned. If the government can not manage the bitcoin, it is likely that the bitcoin will be banned in that country. But I hope bitcoin will be accepted all over the world
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Aryadwipanggah
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December 14, 2017, 03:40:58 AM |
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it is prohibited that its bitcoin depends on its government policy. Because there is already a ban on bitcoin in a country even though not all countries are banning.
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millgates
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December 14, 2017, 03:46:07 AM |
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Can Bitcoin be ban?
There are countries which already ban bitcoin, but ot cannot make bitcoin die. Bitcoin don't need government to exist, what is need is a loyal users which always use it for transaction. For me bitcoin is digital gold, which the value is keep increasing.
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777Jolami
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December 14, 2017, 03:49:10 AM |
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Many countries ban the use and storage of bitcoin. However, it is very difficult to control. The government does not accept bitcoin, bitcoin that reduces government power
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Dapper
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December 14, 2017, 03:49:16 AM |
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No but the only country that really matters in this regard is the USA. If they ban it (as in, make it illegal for any financial institution to do business with bitcoin exchanges), it'll not maybe kill it, but it'll be like chopping off bitcoin's arms, legs, and hands. As an example of this, try to find a bank in the world that did not bend to the will of the USA and become FATCA compliant. Very few indeed, and certainly not many you would want to keep your money at.
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sent from my X6
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Mumbeeptind1963
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December 14, 2017, 03:50:13 AM |
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Bitcoin could not be totally ban from using bitcoins, Other Governments could just prevent it or consider it as illegal. There are some countries have forbidden using cryptocurrencies and they have impose some sanction for anyone who violate. But they could not totally ban it.
Yes some country is now ban bitcoin because they didnt know what bitcoin can help in many people to their country. Also they ban it because they cannot control it and also they know bitcoin can use in illegal activities or crime that they cannot trace the one who doing crime.
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anume123
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Proof-of-Stake Blockchain Network
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December 14, 2017, 03:51:32 AM |
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Bitcoin can be ban if your country not accept cryto like bitcoin . But if the government accept crypto they going get a taxes go accept bitcoin because they get a financial for bitcoin and the consumer so they accept it.
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no0dlepunk
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December 14, 2017, 03:54:00 AM |
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Can Bitcoin be ban?
Nobody can limit you from using bitcoins unless your government decided to block all the exchanges in your country. I think the only way they could stop you from buying bitcoins is when they create a law that prohibits fiat-crypto conversion.
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inthelongrun
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December 14, 2017, 03:56:13 AM |
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Can Bitcoin be ban?
Yes, in fact it is still currently banned in some selected countries. There were also countries that used to ban Bitcoin and its uses were deemed illegal but eventually such state policy was overturned in favor of Bitcoin. If I am not mistaken, Indonesia used to make an official state law that banned Bitcoin. But right now I think the country already officially acknowledged the existence of such a technology. In fact, many Indonesians are already into it.
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Jayrmalakas
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December 14, 2017, 04:03:09 AM |
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Bitcoin is legit and impossible to do this ban, there is no reason to prohibit it, but it helps many people in the world and they are expanding human capabilities to extend their minds about bitcoin, more people are assisted bitcoin. Many are rich in bitcoins and do not violate government law so Bitcoin can not ban the world
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Palmholder
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December 14, 2017, 04:03:10 AM |
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I have heard bitcoin is banned in Vietnam, people may get $8000 fine by using it, huge money ammount for vietnamese citizens. Well police is not able to spy for everyone, may be somone is still using it, but such laws can stop majority of users
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Airdrop International
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December 14, 2017, 04:03:12 AM |
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It depends the country. If bitcoin is forbidden it will be forbidden to convert it in fiat. It will be so hard for people who have cryptos but that is nearly impossible. At least they will let us some time to withdraw our funds.
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Karakyli
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December 14, 2017, 04:07:12 AM |
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Bitkoyn can be banned at the level of an individual state by issuing appropriate regulations. True, the implementation of such a ban will be associated with enormous efforts, costs and difficulties. So far, in the world, there are, as far as I know, a ban on the use and use of bitcoins in five countries, mainly with a weak economy or an authoritarian regime. In general, no one will be able to prohibit bitcoins all over the world, since bitkoyn has already firmly entered our life and has a significant impact on the economy of most countries.
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