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Author Topic: Will the government ban bitcoin?  (Read 1837 times)
deepakg2m
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April 25, 2018, 04:02:17 PM
 #301

Government should not ban bitcoin because bitcoin price increase day by bay.Its helps the government grow quickly.Bitcoin is one of the best coin ever but some country ban bitcoin recent year for its price ups and down Angry Angry Angry


I do not think that Government of any developing country would ever ban BITCOIN because directly or indirectly it is helping the individuals as well the government to develop.

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DevilSlayer
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April 25, 2018, 04:06:37 PM
 #302

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?
There are governments who are banning bitcoins because their knowledge is not enough about bitcoins. The cashless society will not happen if the governments all over the world will ban bitcoins or the whole virtual cryptocurrency.
masterchief001
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April 25, 2018, 04:11:09 PM
 #303

Does the government banned bitcoin? This depends on the countries of the world. In Russia they are not forbidden to bitcoin and the bank accepts bitcoin payments. China has banned the bitcoin, causing bitcoin traders to rush to Japan to invest. The government will decide.
mia khalifa
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April 25, 2018, 04:22:59 PM
 #304

it looks like the government is trying and trying very hard to ban bitcoin because some people are frightened by the existence of digital currencies such as bitcoin, thus pressuring the government to try to ban the circulation of bitcoin.
Nissaica
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April 25, 2018, 04:27:00 PM
 #305

I think banning Bitcoin might happen because the government always thinks that Bitcoin transactions are fraudulent and can create chaos for everyone. And it will also be banned by the government if they do not know what it is. Bitcoin and Bitcoin really help a lot of people for its twinkle. The government forbids Bitcoin to think negatively about Bitcoin and that's wrong.
Craigjohnstone
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April 25, 2018, 04:27:03 PM
 #306

It’s far too late for governments to ban a global phenomenon.
Bitcoin itself isn’t doing anything illegal, it’s just a number on a computer, it’s like saying the government are going to ban the internet. Governments are funded partly by banks, the banks don’t like bitcoin for obvious reasons. That’s why we see negative or no media press at all in the mainstream channels.
Ishiro5
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April 25, 2018, 05:29:15 PM
 #307

Any government that does 'ban' bitcoin should also ban internet along with it and ban freedom of movement and association and even ban fundamental human rights of the people. Bitcoin has moved passed the level of being just a collection of algorithms to becoming a crusade or believe that many loyalists will stop at nothing to see it survive. More importantly, it carries a message of economic freedom from enslavement of man by his fellow man. Bitcoin id freedom.
ArnoldChippy
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April 25, 2018, 05:34:08 PM
 #308

Governments can only ban fiat to crypto and vice versa transactions but it is extremely difficult for the government to ban the individual transactions even on the baking system and I am ignoring the huge cash transaction industry here. It would make a huge trouble for the governments if they are planning to ban the legal exchanges because that is the single way for the governments to pull the data and monitor the funds' flow. On the other hand. any wrong decision could boost black market in my opinion.
That is not for sure that every government will ban bitcoin, in fact most of the governments still thinking about bitcoin to continue and even thinking about to make it regular, because i do not think that bitcoin can effect the economy status of that country, because some countries have already make bitcoin regular while some still have not taken any decision about it.

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Manchumichael
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April 25, 2018, 06:10:39 PM
 #309

Governments can only ban fiat to crypto and vice versa transactions but it is extremely difficult for the government to ban the individual transactions even on the baking system and I am ignoring the huge cash transaction industry here. It would make a huge trouble for the governments if they are planning to ban the legal exchanges because that is the single way for the governments to pull the data and monitor the funds' flow. On the other hand. any wrong decision could boost black market in my opinion.
That is not for sure that every government will ban bitcoin, in fact most of the governments still thinking about bitcoin to continue and even thinking about to make it regular, because i do not think that bitcoin can effect the economy status of that country, because some countries have already make bitcoin regular while some still have not taken any decision about it.
Actually we are not sure which country is supporting and which is not supporting to cryptocurrency. recently Indian government put a restriction on cryptocurrency.  If they allowed people to use bitcoin payment then definitely it will affect the country economy that's why governments are not making BTC payment is legal.
badem
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April 25, 2018, 06:12:23 PM
 #310

I can not speak about Bitcoin itself, but blockchain wont be banned for sure. I am not aware of a single technology that got banned successfully. There might be temporary hurdles but tech is always here to stay. Its the use cases that get banned or supported Smiley
automaticmoney
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April 25, 2018, 06:27:09 PM
 #311

no government can ever ban bitcoin as long as the internet is available in this world it is peer to peer through decentralised networks
money1122
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April 25, 2018, 06:29:53 PM
 #312

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.
phelbaby
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April 25, 2018, 06:32:10 PM
 #313

They can not ban bitcoin itself but it is possible to ban all exchange trading on bitcoin in a particular country such as india that have ban all exchange trading on bitcoin
EEEian
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April 25, 2018, 06:32:19 PM
 #314

I know what a legal tender means,and I have read several articles on this issue.They have hired a team of experts for suggestions on this matter.If that team suggests to ban Crypto than they will surely ban it.I mean they can ban Indian exchanges.And who the said you that I hate my country? I freakin love my country to death.But those people like Arun Jaitley,I surely hate them.Those old a-holes can't understand the teck behind crypto.

Saldom12
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April 25, 2018, 06:35:51 PM
 #315

yes of course it depends on the government in some countries, there is a ban on bitcoin there is also a permit bitcoin exist in his country or world. If my government allows bitcoin because bitcoin can change the human economy in the country.
emberbekas
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April 25, 2018, 06:45:37 PM
 #316

yes of course it depends on the government in some countries, there is a ban on bitcoin there is also a permit bitcoin exist in his country or world. If my government allows bitcoin because bitcoin can change the human economy in the country.

Lol, that's a strange reason for the government to allow the use of bitcoin simply because it can change the economic level of the people. There must be another reason behind it. It's not that simple.

domerosan10
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April 25, 2018, 06:47:36 PM
 #317

I think it will not be, because bitcoin is popular in some countries even have many who use it. Because bitcoin has been proven to help people's economy. So the government will not be able to beat people who have used bitcoin. Because already many people are using bitcoin.
heidikarenina
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April 25, 2018, 07:00:04 PM
 #318

It could be because it depends on the government will banned bitcoin or not. Because the government thinks bitcoin could have disrupted the country's economy. And the government did not want to take that risk, it's the main factor why the government ban bitcoin.
TechnoBibble
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April 25, 2018, 07:00:29 PM
 #319

It is interesting how governments of countries werent interested in bitcoin till the time it became to be very significant and popular. Why not to regulate it earlier? huh
Escan0r
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April 25, 2018, 07:31:20 PM
 #320

It is actually a lot of government banned bitcoin because one factor that can not be controlled by anyone and it will affect the country's economy. Such is the government's mindset that bitcoin banned.
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