Dydot (OP)
Member
 Offline
Activity: 98
Merit: 10
|
 |
January 13, 2018, 01:50:33 PM |
|
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
|
|
|
|
|
|
|
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
Duzenn
Member
Offline
Activity: 252
Merit: 10
The Experience Layer of the Decentralized Internet
|
|
January 13, 2018, 01:54:55 PM |
|
If it is illegal to declare private transactions and then arrest those who trade in bitcoin, then I think bitcoin transactions will be banned.
|
|
|
|
Dydot (OP)
Member
Offline
Activity: 98
Merit: 10
|
|
January 13, 2018, 01:59:54 PM |
|
If it is illegal to declare private transactions and then arrest those who trade in bitcoin, then I think bitcoin transactions will be banned.
But bitcoin is a protocol, a language so to say. it is not a website, or a social media that one can outrightly ban. I don't know if you get my point? |
|
|
|
Kolokoy
Member
Offline
Activity: 196
Merit: 50
OMNI TOKEN PLATFORM FOR PAYMENTS
|
|
January 13, 2018, 02:01:05 PM |
|
Yes, there are already countries that are banning Bitcoin like Bangladesh, Iceland, Thailand and Vietnam.
These countries who are protecting their sovereign money and they thought their fiat will be affected by digital currency or assets. But most countries do find economic advancements through adapting the future of economy and trade.
|
|
|
|
|
ghonkz
|
|
January 13, 2018, 02:04:01 PM |
|
Ofcoures it can, goverment can control everything that happend in their country. If they think bitcoin will likely make their economy not stable they can make rules about it and bann bitcoin
|
|
|
|
|
|
MatrixMining
|
|
January 13, 2018, 02:05:31 PM |
|
No country can actually ban Bitcoin. It is a global decentralized network, so no country can stop it.
However, they can make buying/selling Bitcoin with fiat money and accepting it by merchants illegal, which will make it very difficult and dangerous (you might go to jail for example) to trade crypto vs. fiat and use Bitcoin to buy stuff. This wouldn't destroy the Bitcoin network, but probobaly would have a great impact on its price as most people will probably not risk jail in order to trade and use crypto.
|
|
|
|
|
|
seek4dream
|
|
January 13, 2018, 02:07:25 PM |
|
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
There is no single country in the world that can ban Bitcoin. They can shut up exchanges or forbid banks from involving it within their territory, and it will affect Bitcoin price for a while, but it won't stop Bitcoin from growing stronger. |
|
|
|
|
Dydot (OP)
Member
Offline
Activity: 98
Merit: 10
|
|
January 13, 2018, 02:09:41 PM |
|
Ofcoures it can, goverment can control everything that happend in their country. If they think bitcoin will likely make their economy not stable they can make rules about it and bann bitcoin
And the citizens of such countries won't have access to bitcoin anymore? |
|
|
|
Dydot (OP)
Member
Offline
Activity: 98
Merit: 10
|
|
January 13, 2018, 02:11:11 PM |
|
No country can actually ban Bitcoin. It is a global decentralized network, so no country can stop it.
However, they can make buying/selling Bitcoin with fiat money and accepting it by merchants illegal, which will make it very difficult and dangerous (you might go to jail for example) to trade crypto vs. fiat and use Bitcoin to buy stuff. This wouldn't destroy the Bitcoin network, but probobaly would have a great impact on its price as most people will probably not risk jail in order to trade and use crypto.
Exactly my thoughts. |
|
|
|
|
Mrs Troll
|
|
January 13, 2018, 02:11:19 PM |
|
They ban not bitcoin but gateways between bitcoin and real world - payment gateways, legal support and so on. If your money can be virtual only its rather hard to operate with it...
|
|
|
|
|
cryptozombie14
Newbie
Offline
Activity: 18
Merit: 0
|
|
January 13, 2018, 02:13:32 PM |
|
They cannot actually ban bitcoin. Rather they can ban the portals to access bitcoin, like crypto exchange sites. Also banning the users from accessing bitcoin.
|
|
|
|
|
Dydot (OP)
Member
Offline
Activity: 98
Merit: 10
|
|
January 13, 2018, 02:14:51 PM |
|
They ban not bitcoin but gateways between bitcoin and real world - payment gateways, legal support and so on. If your money can be virtual only its rather hard to operate with it...
They cannot actually ban bitcoin. Rather they can ban the portals to access bitcoin, like crypto exchange sites. Also banning the users from accessing bitcoin.
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
There is no single country in the world that can ban Bitcoin. They can shut up exchanges or forbid banks from involving it within their territory, and it will affect Bitcoin price for a while, but it won't stop Bitcoin from growing stronger. Exactly |
|
|
|
|
sehoon
|
|
January 13, 2018, 02:15:31 PM |
|
Yes, there are countries who actually bans bitcoin but they just can't stop people from using it. And there are also countries that only regulate the use of it for safety.
|
|
|
|
|
bamboylee
|
|
January 13, 2018, 02:25:40 PM |
|
With a lot of news around this days about some countries banning bitcoin and so on. Is it actually possible for a country to ban bitcoin or other altcoins? Or the news are just rumor from some people that want the price to deep so they can scoop enough of the coin at deep.
It is very possible that a country can ban bitcoin. But that is not a real concern because it will be very hard for a country to actually implement the ban. They cannot stop bitcoin from spreading because they cannot stop the internet. The only way to stop bitcoin is to kill the internet, which a country cannot do. They can penalize exchanges or stop them from operating, but there are still other ways to exchange bitcoin without going through centralized exchanges. So they can create a law to ban crypto, but will it be effective? |
|
|
|
|
leland orser
Member
Offline
Activity: 196
Merit: 10
The Experience Layer of the Decentralized Internet
|
|
January 13, 2018, 02:27:02 PM |
|
If a country wants to limit the country's people investment BTC so there have a way to completely, just declared illegal is ok, they in order to protect the national currencies, so banning BTC is also understandable.
|
|
|
|
venox12
Newbie
Offline
Activity: 70
Merit: 0
|
|
January 13, 2018, 02:27:37 PM |
|
they can try and fail
|
|
|
|
|
coin0101
Newbie
Offline
Activity: 42
Merit: 0
|
|
January 13, 2018, 02:29:42 PM |
|
Yes, May be. it's their Personal matter they can Ban Bitcoin.but why do they need to Ban Bitcoin
|
|
|
|
|
strict9
Newbie
Offline
Activity: 50
Merit: 0
|
|
January 13, 2018, 02:30:18 PM |
|
Yes, it's the first type of money that is resistent to being physically taken from anyone. Your coins are MATHMATICALLY yours.
|
|
|
|
|
crypto440
Newbie
Offline
Activity: 42
Merit: 0
|
|
January 13, 2018, 02:30:46 PM |
|
i don't think so.Why do a Country needs to Ban Business  |
|
|
|
|
|
iozver
|
|
January 13, 2018, 02:32:37 PM |
|
The state may well instruct providers to start blocking the pools for mining and this will already be a serious blow to those involved in mining. But it is impossible to prohibit the circulation of crypto currency on the network in the country.
|
|
|
|
|
|
