When the government forbids cryptocurrency

[warrior333]

Unfortunately the government in any country has the ability to take away cryptocurrency or even regulate it. One of the main reasons why the government decides to ban cryptocurrency is because they are not able to regulate it enoug.

They will not stop making pressure to cryptocurrency especially when this market grow more in the coming years, so for now let's keep on believing that our government will support this technology.

Just relax. From that situation I think that they are carefully studying about crypto and blockchain whether it will be a threat to their economy or not.

Hope that every government have their own legal team to study well the cryptocurrency and comes out to a good feedback.

No team is able to convince the government that bitcoin is good. It should be understood that in all countries the government consists of rich people and acts in the interests of rich people. No one voluntarily you the freedom are not present. You have to fight for it. It seems to me that the crypto-currency community is very divided in order to resist the world clans.

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[adzino]

What country are you talking about? You should mention that. All i know is that only few countries have banned crypto currencies totally and those countries are actually under developed countries with huge political corruptions. Anyways crypto currencies are decentralized and I don't understand how they will ban users from using it and prosecute them. Those are all talks and scare tactics i guess.

[jhongzjhong]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

In my own opinion, governments will be only forbidding cryptocurrency if banks or other business which is related to government assets are being negatively affected then that is the time they are going to illegalize cryptocurrency on their country.

Like what they ask much better if OP includes his statement of which country on that having a control to the people not access bitcoin into the internet and that was clearly controlling people as what they want. Well, in this case in cryptocurrency each country has a different perspective on crypto, there are some countries they think that crypto maybe the big competitor to the bank someday and surely governments is against on this not only that they also see the possible negative side on crypto users may be used in illegal activities such as buying guns and prohibited drugs.

[jak3]

Yes, When bitcoin came all the hidden charged gets deducted from everywhere so all the middlemen and hidden income source of governments get destroyed and they got a permanent cut. as because people can take care of themselves and provide their services to each other. All this makes them weak and helpless and they believe that if governments can not get public funds then the whole country will suffer. I don't care about them all I care is if one human can help others then there is no need of government.

[Mometaskers]

I don't know where you live but that seems like a step backwards. Even in my rather "unadvanced" country, we can use Bitcoins just like any mode of payment. Sure not a lot of vendors accept it (some preferring digital payment systems run by telecom companies) but exchanges here link to banks and you can freely pay bills or use your bitcoin to buy stuff from online merchants.


At this point, trying to ban it would just drive it underground. People would be able to find ways to use it.

[Escan0r]

There are also many governments that prohibit crypto currency in the country, let's say 50:50 government worldwide that prohibit and accept Bitcoin in the country. Because we also know every government has different opinions about how the crypto currency works for the future. Will the currency crypto destroy the economy or not.

[peter_coin]

When the government forbids cryptocurrency is when the government forbids people from having freedom of choice, it's the choice of citizens to choose their preferred payment method and not that of the government. Countries that prohibit cryptocurrency are just limiting growth in their communities because cryptocurrency has come to stay.

[darkangel11]

There are also many governments that prohibit crypto currency in the country, let's say 50:50 government worldwide that prohibit and accept Bitcoin in the country. Because we also know every government has different opinions about how the crypto currency works for the future. Will the currency crypto destroy the economy or not.

Where did you get those numbers? There's almost 200 countries in the world and probably around 10 of them (5%) officially banned cryptocurrencies. For instance whole Europe allows you to own and trade cryptocurrencies. I don't believe there's a single country on the whole continent that banned crypto. Your 50:50 is greatly exaggerated.

When the government forbids cryptocurrency is when the government forbids people from having freedom of choice, it's the choice of citizens to choose their preferred payment method and not that of the government. Countries that prohibit cryptocurrency are just limiting growth in their communities because cryptocurrency has come to stay.

THey are already forbidding you. You don't have a free choice. For instance, you can't travel whee you want, can't leave the country at will, but need proper documents. In some countries you can't drink alcohol in the street, while in other you can't buy certain products because they are banned.

[vintages]

This is not a new thing, most governments of many countries have always been on a guard to prevent the growth of cryptocurrency mostly, bitcoin from been adaptable in the state or by the citizens. Cause they feel that adoption of cryptocurrency brings lost of financial monitoring of every citizen and also crime. And also, some governments fear the domination of cryptocurrency over local currency.

[Noctis Connor]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

In my own opinion, governments will be only forbidding cryptocurrency if banks or other business which is related to government assets are being negatively affected then that is the time they are going to illegalize cryptocurrency on their country.

Like what they ask much better if OP includes his statement of which country on that having a control to the people not access bitcoin into the internet and that was clearly controlling people as what they want. Well, in this case in cryptocurrency each country has a different perspective on crypto, there are some countries they think that crypto maybe the big competitor to the bank someday and surely governments is against on this not only that they also see the possible negative side on crypto users may be used in illegal activities such as buying guns and prohibited drugs.

Exactly, the government will forbids crytpo currency if it is being used as a front in illegal activities, also crypto currency has no negative effects in the governments so there is no concrete reason that they will forbid crypto in some countries, most likely crypto currency can help the economic growth of a certain country by promoting its services and improving its technological advancement, crypto can be use in so many ways, hope that someday the government of every country will consider this currency.

[mrcash02]

I feel sorry for you and your country... Seems people there is very passive as the government is constantly restricting your liberties even more. Isn't there any resistence to it?

If your people isn't vigilant, step by step the government will put more restrictions over the citizens, and when people finally wake up, it will be too late! Look what happened in Venezuela. Remember that all kinds of evil practiced are presented as positive measures at first.

[drachman]

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

The problem with a ban is that if they ban bitcoin then what happens next? How many people they have put in jail just for using cryptocurrencies? If that number is zero then you have nothing to worry about, in the past the US forbid gold to be held by Americans and order them to give it to the government, it is estimated that 75% of the people did not obeyed and no one went to jail.

[Chris!]

They can tell you it's illegal, they can try to do everything they can to stop transactions from taking place but in the end they can't actually stop you from owning bitcoins. Just hang onto them and they'll be worth more and more compared to your local currency, since banning something will certainly add a premium to the price.

[senin]

The government is trying to act by its usual methods of administrative prohibition. However, if people look for ways to circumvent these prohibitions, the government will not achieve anything vseravno. Depending on the degree of development of freedom of speech in your country, it would be possible to organize public protests on this matter. Also try to find technical opportunities to circumvent such prohibitions by using VPN or other methods. I think that the government will simply drive the crypto currency into the shadows and after a while, seeing the uselessness of its prohibitions and restrictions, will abolish them and establish moderate rules for the circulation of the crypto currency.

[indrakusumaindra]

Im not sure when will goverments will forbids cryptocurrency, I do think somehow they i'll accept it, in my country its still blury, they didnt accept bitcoin neither ban cryptocurrency, so i do think we still need more time, 2018 is a year of regulations and i do think maybe 2019 would be years where crypto will be accepted and allowed for payments

[batang_bitcoin]

Where are you living? there are no news report like you are saying but it's better to hear someone actually lives from that country and hears his experience on what his government do with cryptocurrency.

When bitcoin is banned, expect that the rest of crypto's will be banned too - altcoins and ICOs. Don't do something ridiculous until the ban is lifted.

[Indrawan77]

Well it's very sad to see this kind of news, the government surely not see crypto like most of us, they only see the bad side of crypto without considering how crypto could increase the economics situation, and how crypto can help a lot of people, crypto could be very useful in the future where most of the countries already encouraging cashless transaction

[zakariajaki]

I am sorry to read your writing, be heartened maybe for a while and tida long, good government will free its citizens to conduct its economic activities independently but a sharp government especially in the economic sector will limit its citizens to follow economic activities, especially in the crypto world, because they will lose their opinion tax, and they are worried about the misappropriation of government funds to be invested into bitcoin or crypto, I understand that and we must tolerate government policy but do not be discouraged you should wait until it is conducive because if the government refuses crypto front and modern technology, keep the spirit and success for all of us

[Altcoins enthusiast]

Your country and any countries that outrightly ban bitcoin and others cryptocurrencies are going to regret it in future! The same way bank and other financial institutions spoke evil of internet and there are the chiefs users of it now will replicate itself again as cryptocurrencies system is the best system that can transform our money and capital market's.

[doomloop]

Your country and any countries that outrightly ban bitcoin and others cryptocurrencies are going to regret it in future! The same way bank and other financial institutions spoke evil of internet and there are the chiefs users of it now will replicate itself again as cryptocurrencies system is the best system that can transform our money and capital market's.

This is what I think some times. The under developed countries do not accept a new technology that go well and easy in countries across Europe and America. It has been more than a decade and Bitcoin has still not been accepted by my country’s government. This is a pathetic situation because people and government have so many other things to worry about. May do not even know Bitcoin let alone its usage.