Why Bitcoin can't be banned

[wangjf]

I think that the author of that article should speak with the Chinese Government since they are now banning bitcoin. We all know that once the Chinese Government moves it's for real. Too bad for Chinese people who use bitcoin and other cryptos, lucky for us since our government thinks the same as the author of this article.

Chinese government can't stop bitcoin to be honest, there's a lot of OTC buying and I'm sure that trading underground will also occurs once they really put the ban hammer.

So it's really up to where we decided to live, if you are somewhat in a government wherein they have a hard stance, chances are, you might want to migrate to other nations wherein crypto is regulated.

I am from China. Although it is banned in China, we can still trade cryptocurrencies through Otc or other channels. Unless the Internet does not exist and I want the Internet to not exist, it is necessary to power off the world. Is this possible?

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[--DarkSecrets--]

I think that the author of that article should speak with the Chinese Government since they are now banning bitcoin. We all know that once the Chinese Government moves it's for real. Too bad for Chinese people who use bitcoin and other cryptos, lucky for us since our government thinks the same as the author of this article.

Chinese government can't stop bitcoin to be honest, there's a lot of OTC buying and I'm sure that trading underground will also occurs once they really put the ban hammer.

So it's really up to where we decided to live, if you are somewhat in a government wherein they have a hard stance, chances are, you might want to migrate to other nations wherein crypto is regulated.

I am from China. Although it is banned in China, we can still trade cryptocurrencies through Otc or other channels. Unless the Internet does not exist and I want the Internet to not exist, it is necessary to power off the world. Is this possible?

If they banned it is there a chance for them to tract each of the users who uses cryptocurrency, this is one of the reasons why they can't ban it.

Seriously, what particular they banned? Because i don't believe it would happen in your country the huge population who mines and use cryptocurrency is in your country. It wouldn't be easy and they can't stop people from using. Another is to shut down to internet is almost impossible as all countries use it in advance technology, what would happen to China if they do it.

[baghdatis1990]

      Bitcoin can not be banned because it is part of a decentralized system. This decentralized system allows Bitcoin to be an unregulated platform that can not be banned or controlled. So it's just your choice if you want to invest in Bitcoin, and no one can stop you and can not destroy the currency on the market.
However, the government may decide whether or not cryptocurrency may be used as a means of payment in that country. But that does not prevent us from investing in our favorite crypto coins.

[fiulpro]

I think you missed out a point .
That is * audience*

The Bitcoin's audience is well above anything that can be banned , all the people can easily work together peer to peer and at the same time they can also work together against the decision , have rallies and stuff because major countries are democratic, it's something that is with us , we can make people hear us !

They cannot control anything literally , it's very easy to use wallets , run node on your mobile or do offline transactions * yups even that is possible now *

[Eildosa]

I agree with you. If desired, you can use bitcoin freely even where it is prohibited. The government of your country will never know that you use it if you act carefully.

[BlackFor3st]

Yes you have a good source of information but what others are afraid of is when their government will banned bitcoin. The main problem that they are facing once bitcoin will be banned to their countries are they have no ways on how to cash out their bitcoin easily, they need to be careful in using bitcoin as in worst cases they will be jail or get any punishment and etc.

But if bitcoin will surely last even almost all the countries will banned it then it is a very good source of information that can really help bitcoin to have a better future.

[Kristinnspence]

I would like to take up the points of an article published on Bitcoinist. (Even if some will say that this media is Pro-Bitcoin the points are the most important.)

1. Laws Can’t Be Written Against Bits and Bites
2. You Can’t Ban Open-Source Distributed Software
3. Bitcoin Can Be Broadcasted via Satellite
4. You can Send Bitcoin Via SMS
5. You Can’t Shut Down the Power Grid

Any regulation can't prevent us from using Bitcoin. Despite their attempt to keep an eye on the system, it is simply impossible for them to ban people using it. So why giving a fuck to "I'm afraid my country will ban Bitcoin!"
They have nothing to fully stop the ecosystem that is currently emerging.

Unless the entire power grid of the world would shut down after a huge EMP hit would destroy all electronics in the world...
P.s I think I watch too much sci-fi movies :'D

[BitHodler]

Unless the entire power grid of the world would shut down after a huge EMP hit would destroy all electronics in the world...

That would affect the entire world economy. In other words, to get rid of Bitcoin entirely, you have to get rid of everything else that accounts for a much greater value than Bitcoin is. That's a very bad deal.

On the other hand, if we all generate our own electricity we can still use Bitcoin through satellites. I'm not sure how safe that would be, but at least there is still an option to transact with the outside world. Power to the people.

P.s I think I watch too much sci-fi movies :'D

That's actually a good thing. Sci-fi movies in some cases are an indication of what we can expect in the future. It's also a reflection of the free mind, something our governments try to talk out of our head by indoctrinating the younger generation.

[sandra_x]

That's why we love bitcoin. The only weakness is see as regard restrictions on bitcoin is through centralized exchanges,at some points, some persons may want to convert to fiats.With wider adoption globally there will be less need to do this,why would someone want to convert to fiats if your merchant can accept bitcoin as payment for good or services

[Cryptomindset]

I think we are talking about two different things here.
Bitcoin can't be banned as a technology because you can't prevent people for using it, it's available for everyone. But the other thing is that governments could put the use of Bitcoin out of the law so that it becomes illegal. So, basicly you could always use Bitcoin because all technologies, sofwares and devices are available to you but you will be doing it on illegal way if some governments adopts the law against Bitcoin.
To my opinion there is no fear of banning Bitcoin because most governments, at least in developed countries, are aware that Bitcoin and cryptocurrencies can't be marginalized anymore.

Thanks for the objective outlook with regard as to if or not bitcoin will be banned, Government regulations and alternative factors can certainly increase as bitcoin  becomes more widespread, cryptocurrencies are presently in a very well legal status within the US. Countries like Japan have embraced crypto greatly - it's going to be interesting to see the market effects of countries increasing regulation, however as of currently I do believe the notion that it cannot be stopped.

[olohifie]

I would like to take up the points of an article published on Bitcoinist. (Even if some will say that this media is Pro-Bitcoin the points are the most important.)

1. Laws Can’t Be Written Against Bits and Bites
2. You Can’t Ban Open-Source Distributed Software
3. Bitcoin Can Be Broadcasted via Satellite
4. You can Send Bitcoin Via SMS
5. You Can’t Shut Down the Power Grid

Any regulation can't prevent us from using Bitcoin. Despite their attempt to keep an eye on the system, it is simply impossible for them to ban people using it. So why giving a fuck to "I'm afraid my country will ban Bitcoin!"
They have nothing to fully stop the ecosystem that is currently emerging.

Government vary across the globe but a unanimous  warmth embrace to bitcoin will fertilize the growth of btc. If you understand this then you will agree with me that the otherwise is calamitous. Don't underestimate the power of government because they can actually do and undo. You can't tell me that if Chinese government continue in their current direction it won't affect btc. What if many other countries follow suit? Government can drastically reduce btc to a low level but I don't anticipate such anyway.

[Questat]

That's why we love bitcoin. The only weakness is see as regard restrictions on bitcoin is through centralized exchanges,at some points, some persons may want to convert to fiats.With wider adoption globally there will be less need to do this,why would someone want to convert to fiats if your merchant can accept bitcoin as payment for good or services

We will surely reach that time if the massive adoption will take place.
Bitcoin now is still in the early phase, and although it gained popularity but of the total potential users, we are just holding 5% of it or lower.
I just can't confirm the figure, it's just my opinion and therefore we still have more room to grow, slowly we will be at our expectation.

[danipay]

One day, there would be a catastrophe too devastating to recover from.
Some people would pick up the pieces but most would lose interest.
Instead, Bitcoin has rebounded from every setback stronger than before.

[Ridwan Fauzi]

There are many ways to stay anynomous for us to use bitcoin, although we got an information that the our government decided to ban bitcoin and every act related to bitcoin must be punished. But we never saw or heard any information like that, the users of bitcoin can avoid everything about government decision. Sometimes ago my government decided to ban bitcoin but I never felt a worried to use it even I can make a transaction that used bitcoin as payment system but they have no idea to track it.

[jak3]

Yes, You are right. Bitcoin cannot be banned because it is open source and does not have any regulations such as banks control them or any interference of government it is obvious they can only restrict you for using this cryptocurrency in their country but they cannot ban the thing. But as we know Bitcoin face catastrophic events search as exchanges can get hacked or somebody can get scammed. This type of scenarios mainly happens ecology with newbies.

[Rufsilf]

Yes, You are right. Bitcoin cannot be banned because it is open source and does not have any regulations such as banks control them or any interference of government it is obvious they can only restrict you for using this cryptocurrency in their country but they cannot ban the thing. But as we know Bitcoin face catastrophic events search as exchanges can get hacked or somebody can get scammed. This type of scenarios mainly happens ecology with newbies.

This is some reason why mostly all bitcoiners don't want to be regulated and runs just like it was since from the start.
Once it regulated by the government, will surely their is a big changes and might be leading into prices may controlled as well.

Banning is not a big concerned for everyone  cause they don't believe that government will push on it but they are worries of low prices once controlled and possible no bull run happens.

[1Referee]

Banning is not a big concerned for everyone  cause they don't believe that government will push on it but they are worries of low prices once controlled and possible no bull run happens.

It depends on what the ban actually is. It won't necessarily harm Bitcoin itself, but will certainly harm the rate of adoption, and the flow of money that exchanges still need bank accounts for. The higher the price is, the more secure the Bitcoin network is. It has never been a major problem, but still something to consider taking serious.

Most regulated exchanges are compliant enough to not trigger any unwanted attention from the governments, so there is no need to worry about that. I would even like to say that governments prefer these exchanges to exist and control a large portion of this space, because that means more tax income, less manipulation, and less people wiring money to a foreign exchange.

[yusupjatigumilar]

What is certain is in my opinion the reason why bitcoin cannot be banned because bitcoin is decentralized means that the system is spread everywhere and not centralized, it will be very impossible if the bitcoin is banned. Despite the many pros and cons of various parties, bitcoin will still exist even though there is always a correction in price movements, but that's what makes bitcoin attractive.

[illusioNiZt]

I don't think its possible to ban Bitcoin it can be regulated but completely banned? I don't think so and even if its regulated it will be for limited users not everyone around the globe and there are already countries who have regulated cryptocurrency or planning to do so in the future.

[jpnl0008]

the idea of banning comes from restrictions set by certain nations or international agencies and monetary institutions that feel threatened and also has a grip on what ever technological innovation but in this case, there is no office and no particular server and location to ban and therefore things are over the institutions and that makes bitcoin not withing the range of things to ban