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Author Topic: Will the government ban bitcoin?  (Read 1837 times)
zakero
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March 10, 2018, 11:19:00 AM
 #21

Government or governments will never be able to ban Bitcoin. This is because the industry is just too big to get rid of. There is a high demand for it and as long as there is demand, it will survive no matter what. Governments can only regulate it. Besides this, it is not a wise idea for governments to try to even ban Bitcoin or crypto currency. Because thousands of companies employ hundreds of thousands of employees and banning it will just deteriorate their unemployment rate.
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March 10, 2018, 11:22:27 AM
 #22

The fact is, the government cannot simply banning bitcoin in a country, it is hard to ban crypto activities except rushing them to not use cryptocurrency.

Fazlurkhan.kz
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March 10, 2018, 11:29:23 AM
 #23

Bitcoins remove the middle man from the picture for letting people use their own money. That is bank. There are a lot o government banks which are suffering a huge loss and see bitcoin as a threat. As banks make more money, the government gets more money. When a bank suffers a loss, the government suffers with it too! So, there's a huge possibility that government might ban bitcoin but if they really care care for their people like RUSSIA does, they might end up supporting and promoting it!
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March 10, 2018, 11:34:25 AM
 #24

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?
Governments only enacted laws to tax bitcoins. Governments will soon join the crypto market if they wantn't to be eliminated
I agree. You can not block the possibility of buying BTC. BTC gives you the opportunity to earn a lot of tax revenue. It would be strange if you did not have the opportunity to raise funds.

They  may not be able to block the possibillity of buying BTC. BUT, they can put in limitations to transfer Bitcoins into Fiat money. And up till now, we need to pay our bills still in fiat money. And ban is not equal ban. Regulations which are aimed to proctect the user can also already limit quite a lot the market.
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March 10, 2018, 11:45:45 AM
 #25

most likely yes, but it will happen if criminals are already using Bitcoin as their crime

It's possible to be happen to use bitcoin in their crime,  I heard there some people use bitcoin to their bad doing. And there's possibility to government will ban bitcoin.

Some of the countries already banned bitcoin for this kind of reason which doesn't make sense, I mean all of the currency that we have in this world are being use on different things including criminality, buying illegal drugs, buying illegal firearms and so on but why they are not banning our real currency to stop those kind of illegal activities right? don't you think the real reason behind of banning bitcoin is that they can't touch it and they can't steal it from people, well that is only opinion about it.
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March 10, 2018, 11:56:54 AM
 #26

the possibility that it could happen what I think if the world government together make bitcoin to be illegal, but I hope the government is looking for a good solution instead of trying to close the exchange of bitcoin
Saddam Bin Delowar
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March 10, 2018, 11:57:32 AM
 #27

If the government of any country thinks Bitcoin will have illegal activities in its country, Then the government of that country can close Bitcoin.

 But it will not be good for his country. Because, all countries are moving ahead with Bitcoin.
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March 10, 2018, 12:09:53 PM
 #28

This question gets asked almost daily like clockwork. No, governments aren't going to ban Bitcoin now. It has become too big to fail now, just like banks. Billions of dollars have been invested into Bitcoins. Government isn't going to straight out ban a thing with such a big market cap.

true enough, this is always being asked so many times. for me, it depends on the country if their government will ban bitcpin or not. Government of one country can't ban the whole world for using bitcoin. as different countires have differents laws. in my own country, bitcoin is legal.


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rushel22
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March 10, 2018, 12:20:11 PM
 #29

most likely yes, but it will happen if criminals are already using Bitcoin as their crime

It's possible to be happen to use bitcoin in their crime,  I heard there some people use bitcoin to their bad doing. And there's possibility to government will ban bitcoin.
I think they will never banned for bitxoin but the fact is they will never been supportive for this kind of cryptocurrency.But we dont mind that because our full support for bitcoin was more than for the government society.
Akbcryptomoon7668
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March 10, 2018, 12:28:56 PM
 #30

Government can not block the possibility of buying BTC. Because they can make a lot of money from tax.
Dod Ong
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March 10, 2018, 01:57:41 PM
 #31

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?

I think yes, because the earnings becoming lower than recent earnings. I think it is cause of the government, the distribution is interrupted. There are a lot o government banks which are suffering a huge loss and see bitcoin as a threat.  Someone authoritative and greedy government figure may try to launch competing coin and then ban all existing coins.
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March 10, 2018, 02:18:25 PM
 #32

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?

When the Chinese government tightened controls on bitcoin transactions, all of China's bitcoin exchanges stopped withdrawing cash, and everyone was very pessimistic.

But a few months later, the tenacious bitcoins have not been knocked down, but instead they have an unexpected benefit. The transaction decentralization has been realized.

So it is hard for governments to ban encrypted currencies.
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March 10, 2018, 02:31:02 PM
 #33

no, i think bitcoin will not be banned by the government,
not all governments in the world not accept bitcoin, there are many countries that accept bitcoin too.
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March 10, 2018, 02:38:10 PM
 #34

most likely yes, but it will happen if criminals are already using Bitcoin as their crime

The government can ban Bitcoin not only because the crypto currency is used for illegal activities and with criminal intentions. The main reason for Bitcoin's ban could be the government's lack of confidence in its own power and the inability to regulate the crypto-currency sphere. Bitcoin is decentralized and is not regulated by the government, so it can become uncontrollable and present a danger to the state. It is for this reason that many governments are considering the option of banning digital money.
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March 10, 2018, 02:39:45 PM
 #35

I think this will only depend on what they are thinking about bitcoin. Since bitcoin is volatile, a lot of government banned bitcoin having no one maintaining the price and they said that it will be a way for a lot of people to launder money and transact money to terrorists.
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March 10, 2018, 02:49:32 PM
 #36

If the government won't be able to control bitcoin, they would more likely ban it and do something to get it for their own interest. Just like how facebook first tried to ban any campaigns of bitcoin then suddenly shifted course when they learned about how they can also use bitcoin. It would always depend on the people's self interest.

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March 10, 2018, 02:52:01 PM
 #37

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?

Some countries already did. But in our country, I don't see that our government will ban bitcoin or digital currency. Bitcoin is getting more popular in our country because of its high value. Our government is also having a benefit with digital crypto currency in terms of money remitance. They are just advising us to be careful to those scammer people that uses bitcoin in bad things.
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March 10, 2018, 02:55:04 PM
 #38

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?
I don't think the government will ban bitcoin. Now that many countries have accepted bitcoin, they realize that bitcoin can promote the development of their national economy, which is beneficial to the development of the country.
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March 10, 2018, 02:58:09 PM
 #39

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?

Some countries already did. But in our country, I don't see that our government will ban bitcoin or digital currency. Bitcoin is getting more popular in our country because of its high value. Our government is also having a benefit with digital crypto currency in terms of money remitance. They are just advising us to be careful to those scammer people that uses bitcoin in bad things.

I want to know the name of those country, which have ban bitcoin. The most asked question in this forum is about the ban of bitcoin. I don't know why people loves to talk about the banning when the banning itself is not so common in the countries. 

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March 10, 2018, 03:02:03 PM
 #40

Bitcoin has been announced since the day it was invented, and it will be suppressed by governments in the future and declared illegal currency. Is the basis, the further development of the currency will be in the interests of the threat to traditional monetary and ruler, not the rights to cryptography currency once governments announced that the currency is illegal, its price will produce volatile in the short term, and may even crash. At the same time, the government will force the bitcoin exchange to be shut down, so that bitcoin can only be sold in private, and its exchange capacity will be badly hit. Will the government ban bitcoin?
I don't think it will happen. Now, many countries around the world have accepted bitcoin, and they recognize the legitimacy of bitcoin. Now that bitcoin has been accepted, bitcoin has become a form of payment.
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