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Author Topic: Will the government ban bitcoin?  (Read 1837 times)
Renal
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March 10, 2018, 03:06:06 PM
 #41

It is constitutionally economic right of government authority for currency exchange but financial problem is private right which surely can still be in exchange if individual because exchange and not is bitcoiner right.

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Quinni
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March 10, 2018, 03:09:15 PM
 #42

I don't think the government has banned BTC now, but the BTC has been banned in China, and the us attitude towards BTC is tolerant, but the attitude of Japan and South Korea is support.


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markdario112616
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March 10, 2018, 03:10:26 PM
 #43

A government can do whatever they want, Yes they can ban the usage of Bitcoin in their country if they think that it is a threat to the economic and public safety. What they can't do is to stop the transactions of Bitcoin. Bitcoin runs through a decentralized system in which it is untouchable. They could set parameters to prevent its people to use or access any crypto related sites but due to advance technologies, people can use proxy servers or VPN to continue their transaction/s. Banning the usage of Bitcoin is, in reality, is just a waste of time and effort on the part of the Government.
yanimkurniawan
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March 10, 2018, 03:11:27 PM
 #44

Currently in my country there is no prohibition on buying bitcoin, because for the government can reduce unemployment, so there is no prohibition for bitcoin.
Magic Sarap
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March 10, 2018, 03:14:20 PM
 #45

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?

The government of each countries all over the world has the power and authority to ban the bitcoin. With that situation some countries like china already banned the use of bitcoin.

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sirenmoon
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March 10, 2018, 03:15:16 PM
 #46

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?

The government doesn't have the power to ban the Bitcoin right now. Instead of the baning they are adapting to it and using its flow to their own benefit with the tax regulation. Some of the countries are banning exchanges to suppress Bitcoin transfers to the FIAT and opposite. With every exchange shut, people are getting angry and that doesn't benefit the government in every way. Bitcoin as the decentralized currency is slowly implementing itself into the society and the government cannot do absolutely anything because of that.

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ToddDiaz
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March 10, 2018, 03:17:00 PM
 #47

No they can't. They can only place regulations on it and keep people from swaying the market in their favor but they won't ban it. I think very soon all governments will use blockchain technology. It is important
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March 10, 2018, 03:17:11 PM
 #48

I don't think government will ban Bitcoin; I think they don't have any rights to ban it because of the reasom that they can't control it. Many people are earning money through, thus it is now gaining supports so it cannot be just ban.

kingkonjac
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March 10, 2018, 03:20:50 PM
 #49

Governments of USA has launched a financial licence for trading btc and other cryptos, the other are considering it to tax which means that they will try to get involved in btc rather than ban it.

SaiWAFU
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March 10, 2018, 03:30:40 PM
 #50

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?

if the reason is because of bitcoins anonymity and be used in crime then bitcoin might be banned. But of it being a threat is doubtful in banks is doubtful. Banks will be banks and nothing can replace them in the government's economy. Cryptocurrencies is just another form of medium to do transactions and will be regulated soon.
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March 10, 2018, 03:34:26 PM
 #51

Well it depends on which country you are talking about. As far as I know most countries like US, Canada, etc. won't be banning bitcoins. China and a few other countries have already banned bitcoins. Recently there was a rumor that India was going to ban bitcoins, which wasn't true. I don't think any other country will ban btc, most of the countries look supportive for cryptos.

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March 10, 2018, 03:51:59 PM
 #52

bitcoin is too big to ban. the governments can't ban something they can't control. if they  would like to destroy it. they would have to erase every node  in the network which is nearly impossible . all computers which contain the blockchain history need to be put offline.
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March 10, 2018, 03:57:31 PM
 #53

at the moment there are already some of the countries that have banned bitcoin. I heard the news that the government is banning bitcoin because they are afraid the banking system in the country is chaotic by bitcoin. I think if the government prohibits bitcoin in the country it will harm the people who need jobs and poor communities.
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March 10, 2018, 04:20:57 PM
 #54

Can't impose taxes on Bitcoin? That's illegal then! = GOVERNMENT'S LOGIC  Grin Grin Grin

Government will leave bitcoins as is once they can have taxes from it, believe me.
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March 10, 2018, 04:31:35 PM
 #55

the government does not prohibit and also does not legalize bitcoin. Currently the government is only monitoring the development of bitcoin, whether bitcoin can change the economy for the better. or bitcoin crime.
dungthuy
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March 10, 2018, 04:36:37 PM
 #56

it is difficult to bans bitcoin,they want tax btc than they want ban btc,now they searching a way can control crypto and tax it
orarider
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March 10, 2018, 04:36:57 PM
 #57

Current bitcoin will not be banned. But in the future bitcoin will be banned because it affects big world currency. Many countries will hold back the development of bitcoin to enable bank finance to function normally.
Akash1243
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March 10, 2018, 04:40:27 PM
 #58

Well it's too hard to say and it also depends upon government to government as Japan has legalised bitcoins and some more countries has legalised.If the government sees bitcoins or any other crypto currency as harm to society then it would most likely try to ban bitcoins, but at most they can do is ban exchanges in their countries I don't know how they would try to stop people from using bitcoins.
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March 10, 2018, 04:41:14 PM
 #59

the government should not ban bitcoin, because bitcoin can grow well and help the country's economy. but there are countries that are banned from bitcoin and that usually happens because of government rules. but there are so many traders who remain in cryptocurrency for profit even though the government is banning bitcoins.

 
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March 10, 2018, 04:43:59 PM
 #60

this is the time of bitcoin market in this generation of electronics the electronic currency is also the important part.and bitcoin is the key who will joint the market to electronic market.and the government still can't ban bitcoin because bitcoin is spread all around the world.  
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