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Author Topic: Will the government ban bitcoin?  (Read 1837 times)
frankybutterin
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April 30, 2018, 05:06:52 AM
 #581

in my country the government will not ban bitcoin because bitcoin has provided many benefits to its people. as in my country there is no law that officially prohibits bitcoin but the central bank in my country forbids bitcoin to be used as a valid payment instrument. in my country bitcoin is allowed to be used as an investment asset. but there are indeed some countries that prohibit bitcoin either as an investment asset or for their payment instrument fearing bitcoin is growing rapidly and can not be controlled.

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April 30, 2018, 05:10:16 AM
 #582

The government can not ban bitcoin for no particular reason. If that happens then the user will ignore the government ban and become unconcerned. Even if it is a reason related to political interests (which has nothing to do with bitcoin users). If the government ban bitcoin, then bitcoin transactions will continue to exist even though it will be a black market.

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April 30, 2018, 06:01:37 AM
 #583

It's still a question in mind of many people if there's a possibility that government will ban bitcoin. But I think there's a possibility that it would happen if there's enough reason like if they will prove that bitcoin was a instrument for doing illegal activities and wrongdoings. It may possible because bitcoin is a free system there are no government that works on it.

 
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April 30, 2018, 06:26:18 AM
 #584

Will they ban bitcoin? Well probably not. Probably would just find a way to regulate it
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April 30, 2018, 06:35:06 AM
 #585

Some country central bank has been already ban Bitcoin. Some country ongoing revolution. Some of well known developed country permit to buy sale Bitcoin is legal. I will say those country has been ban, they don't have good idea about Bitcoin future and blockchain technology. I believe that if government announced illegal Bitcoin they can't stop Bitcoin use. It's more dangerous for government. Because people will use it for more illegal action.

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April 30, 2018, 06:42:11 AM
 #586

The government will not prohibit bitcoin because it is a transparent system and bitcoin is a free currency that is not responsible for the people

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April 30, 2018, 06:49:18 AM
 #587

I do not think Bitcoin is entirely prohibited by governments around the world. It appears that some countries allow the use of Bitcoin to facilitate Bitcoin users.
But it is not possible if technological developments progress, Cryptocurrency will be used by all countries, and countries need payment with Crypto, then the state will not prohibit the use of Cryptocurrency. All possibilities are possible in the world of Cryptocurrency.
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April 30, 2018, 06:52:10 AM
 #588

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 will support bitcoin, they need more time to make regulation, they know the huge potential of bitcoin for their people in their country. they just need time to make protection by regulation for everyone.

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April 30, 2018, 08:00:29 AM
 #589

Probably they can, hopefully they won’t. Even if they do ban bitcoin exchanges , they will give time to cash out because there are plenty of people invested in it. Most probably the government won’t ban bitcoins. Some other countries did not accept bitcoin, but it can’t stop bitcoin. It is a decentralized currency and can’t be controlled with anyone’s presence. It has been accepted by many countries in a legit way
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April 30, 2018, 09:03:51 AM
 #590

it depends on the status of the country for bitcoin. Some of the countries like our country which is the Philippines, our country didn't accept bitcoin in any bank transactions. If someone one or joined bitcoin after banks trace your account you will be banned from that specific bank. Bitcoin is still popular in our country because instead of bank accounts, money transfers are they using in any transaction to provide somebody's profit or earnings.

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April 30, 2018, 09:09:15 AM
 #591

In the future, bitcoin will be suppressed by governments and declared illegal, and rulers will not cede power to cryptographic currencies. Any government to abolish the BTC, facing the suffering is great, BTC existing key does not lie in whether the government blocked it, but the fans whether can keep the faith in it, as long as there is trust, BTC is still valuable, still can't stop people from using it for money or exchange of goods.
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April 30, 2018, 09:14:08 AM
 #592

there are some countries that prohibit bitcoin and do not accept bitcoin in the country but bitcoin users can still use its bitcoin and the government can not know it, the government should be able to accept and support bitcoin because bitcoin has changed a lot of people life for better and have better finance
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April 30, 2018, 09:19:14 AM
 #593

the government will not ban bitcoin, because bitcoin will be able to benefit the government. so what will be possible is that the government regulates the use of bitcoin in the hope that there are benefits to be gained by the government through setting the bitcoin.
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April 30, 2018, 09:25:11 AM
 #594

Maybe can be ban by the government If a lot of news made from criminals and about the bitcoin like a lot of scammers, drug dealers, kidnapped for ransom. That was a very bad idea using bitcoin. But sometimes that can be happens because we cannot controlled the system of bitcoin. We cannot avoid that kind of people doing bad things. Its all up to their ideas.
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April 30, 2018, 09:37:53 AM
 #595

It has already happened, some governments have banned bitcoin. It is related to the potential bitcoin used for financing terrorism and other criminal activities. does not rule out that other governments will also do the same
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April 30, 2018, 10:19:43 AM
 #596

yes, to not all countries forbid it, only some countries are banning bitcoin,And it has been officially illegal in 17 countries, Starting from 30 July 2013 to 2018,
The first country to be banned / illegally is bitcoin is Thailand.
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April 30, 2018, 10:22:20 AM
 #597

some of them will ban bitcoin, but usually it depends on the government, some government visualize bitcoin as great potential for economic growth and some of them take bitcoin as a threat to their economy.

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April 30, 2018, 10:35:26 AM
 #598

It has already happened, some governments have banned bitcoin. It is related to the potential bitcoin used for financing terrorism and other criminal activities. does not rule out that other governments will also do the same

Yes goverment would ban bitcoin if it involve and use in criminal activities such as financing terrorism, financing kidnapping in the form of ransom and other fraudulent activities.

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kristy6coins
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April 30, 2018, 11:16:53 AM
 #599

Bitcoin has a bright future. It cost 800 dollars like back in 2008 to buy one bitcoin now, it has gone up to highs of 9,000 which i think is simply amazing. Banks and governments will embrace bitcoin with time since many people are starting to adopt it. They will have no choice.
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April 30, 2018, 11:27:06 AM
 #600

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 no, because its not effective, they would be losing out on business happening in their country, and because the public would push against such a blanket ban. No one can't ban these cryptocurrency because it can come into existence from any place. No boundaries barrier.
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