Deallove9
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August 06, 2019, 08:48:09 AM |
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There is need to know more why btc can't be ban as major countries are signing it as virtual money and putting in place rules to guide the use while US as also see the future in it but to me in my own opinion look as a treat to their currency and that as been the major issue for them to either ban it or maintain it.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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esatceza
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www.thegeomadao.com
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August 06, 2019, 10:44:03 AM |
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I think the government cannot stop us from using Bitcoin completely. However, they can track transactions that convert Bitcoin to real money or use it to buy and sell goods. From there, they can catch us if they want. So, always be careful with conversion transactions, it will turn you into a criminal sometime
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proTECH77
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Bisq Market Day - March 20th 2023
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August 06, 2019, 11:07:46 AM |
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it can't be banned 100%, but governments can make lives of bitcoin enthusiast way harder than it is now with taxes and regulations
That exactly is the worst the government can do, or imposing sanctions against Bitcoin holders which will affect the cryptocurrency indirectly, like what we have seen before now with China and Japan but the beauty is that, the motebthey try weakening the power of cryptocurrency, the more strength they give to it adoption, Bitcoin or rather cryptocurrency can't be banned. |
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Darker45
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🙏🏼Padayon...🙏
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August 06, 2019, 11:11:15 AM |
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I think the government cannot stop us from using Bitcoin completely. However, they can track transactions that convert Bitcoin to real money or use it to buy and sell goods. From there, they can catch us if they want. So, always be careful with conversion transactions, it will turn you into a criminal sometime
No, not necessarily. If you will follow the intended use of Bitcoin according to its design, which is through peer-to-peer transactions, you will not worry about government tracking you down. If you buy goods through Bitcoin on a peer-to-peer basis, you are also relatively safe from government trackers. And if necessity calls that you really have to convert your BTC into fiat (Bitcoin is more real money than fiat) and you opt to have it on a peer-to-peer level as well, you are also safe from government trackers. What I mean to say is that Bitcoin can get away from the prying eyes of the government. Bitcoin can't be banned, therefore. |
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bright4mech
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August 06, 2019, 12:24:29 PM |
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The world is moving fast. Things are changing by the day even as different technologies are emerging. Hence, Bitcoin Decentralized currency, manufacturing has been make the industry more accessible, secure and economically sound for more P2P Platform is our third product by participants in a direct peer-to-peer ecosystem, is difficult to banned.
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Rose_btc
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August 06, 2019, 01:42:44 PM |
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Currently, Using is BTC is in a grey region for Indian's. As there are so many Discussions going on also recently there was a news that 10 years jail for one uses BTC. Why can not people are against this decentralised invention.
There were few P2P exchanges and Kionex closed few weeks ago. Kionex was top exchange in India. Zebpay was also a top exchange in India now moved to Australia I guess.
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Bitcoin Seller
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August 07, 2019, 07:20:31 AM |
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As long as there is an internet connection available in the country, bitcoin cannot be banned. But if the government decide to ban the internet connection, then people cannot use bitcoin, but I am sure that people will search the other way to use bitcoin and they will use VPN to connect with bitcoin. I think in the country which bitcoin is banned, people now prefer to use a VPN because they still want to use bitcoin for many things including to trading.
Right, but if you are caught for any operations with Bitcoin and cryptocurrencies in some countries, you can be sent directly to jail. I do not know if people are ready to take such great risks to lose their freedom. Probably, the alternative way out is to change the place of your residence. For many people, this variant works better than the other ones. |
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pandowoe
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August 08, 2019, 10:50:15 AM |
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wisely countries do not prohibit or block bitcoin but regulated regulations. Legally it might not be used as a legal payment instrument, but there are rules that make bitcoin available to residents of a country. and that's what happened in my country.
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thunderbitz2717
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August 08, 2019, 11:28:44 AM |
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Bitcoin can't be ban because it is decentralized based concept, were none of the government of each nation can't able to do manage or control it. I remembered one of the country banned bitcoin and crypto was China, but China has big bitcoin mining farm in the world and has the highest average percentage also all over the world too. Something's weird isn't?
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giantrobot
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August 08, 2019, 06:17:19 PM |
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The ban on Bitcoin may be due to the government anticipating the danger of trading Bitcoin. In addition, the Government banned it because Bitcoin affected the nation's economy and flat currency. I think there are many related issues that the government has not announced. We are citizens of the country so we must obey the law, otherwise we will be in trouble.
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valentin68
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August 08, 2019, 06:51:46 PM |
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Bitcoin can not be banned because the bitcoin network is made up of 7000 nodes. These 7000 nodes are in many countries, thus if someone shuts down some of these nodes , the other nodes remain.
This is why the bitcoin can not be banned. A country can disconnect from the internet, but this would not ban (interdict) the bitcoin in that country. There are internet satellites, there are many possibilities to connect to the internet from a country that has disconnected itself from this.
One can shut down the internet on a country, but that country citizens can go to their friends and connect to the internet from there.
A country does not have one ISP, every country has many ISPs and every of these ISPs has its connection the internet.
A country government can say whatever, can do whatever, it can not interdict the bitcoin because simply I can go to another country or connect to the internet through another ISP.
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emerejames
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August 08, 2019, 06:58:31 PM |
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Bitcoin can not and will never be banned, because there are many ways to trade Bitcoin either online, black market, Banks, face to face etc. Government of a country can only restrict the use of Bitcoin but can not ban it. The good news is that many country that go against Bitcoin are now regretting their actions and now investing in it.
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javadsalehi
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August 08, 2019, 07:01:14 PM |
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The ban on Bitcoin may be due to the government anticipating the danger of trading Bitcoin. In addition, the Government banned it because Bitcoin affected the nation's economy and flat currency. I think there are many related issues that the government has not announced. We are citizens of the country so we must obey the law, otherwise we will be in trouble.
The topic is about why bitcoin cannot be banned and you say bitcoin has banned. No one can ban bitcoin. The network is working decentralized and there is no one who can control bitcoin. |
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odeskpawan
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August 09, 2019, 08:32:15 AM |
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Agreed. Even if the government bans bitcoin in the country, I don’t think its people would stop using or trading bitcoin. Here cryptocurrencies are banned totally. But, it cannot stop people from trading it. Well, who doesn’t if one sees how profitable these can be.
Also, yes, the decentralized nature of the bitcoin makes it impossible to ban. But, we can face some problems in the mass adoption of cryptocurrencies.
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ahiaba.john@yahoo.com
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August 09, 2019, 11:16:21 AM |
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Many time in the past we commented on the topic like this. It is very difficult to ban cryptocurrency even in the so countries that have restriction to that. Bitcoin for example can be used internationally and that means it is not just a national things. Bitcoin has gain momentum over time irrespective of criticism in some countries of the world but for us that sees the importance of it can not do without it.
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Spaffin
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August 10, 2019, 11:50:27 AM |
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In order to prohibit cryptocurrency in certain countries, the government must completely deprive its citizens of Internet access. Otherwise, the authorities will not be able to realize their bad plans. But since this is not possible, cryptocurrency users who live in countries where Bitcoin may be prohibited can use the VPN and other technical capabilities to work in the cryptocurrency market via the Internet and make money. Therefore, I think the main thing is not to spread to anyone about their activities.
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raidarksword
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August 10, 2019, 01:17:56 PM |
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Some countries banned bitcoin before for their own economic reasons but still bitcoin rises above and continued the dominance everyday that some countries realized bitcoin cannot be stopped nor banned that's why they lifted it up and accepted crypto currency as part of economic agendas.
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Vishnu.Reang
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August 10, 2019, 01:37:01 PM |
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Some countries banned bitcoin before for their own economic reasons but still bitcoin rises above and continued the dominance everyday that some countries realized bitcoin cannot be stopped nor banned that's why they lifted it up and accepted crypto currency as part of economic agendas.
As far as I know, none of the countries have banned the possession of Bitcoin (although there are rumors that India is planning the same). Some of the countries, such as Nepal and Bangladesh have banned the trade of Bitcoin to fiat currency (and vice versa) and they have even arrested some people for breaking the law. But no one has been arrested yet for the possession of Bitcoin. |
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shulc7
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August 10, 2019, 08:36:32 PM |
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Bitcoin can not and will never be banned, because there are many ways to trade Bitcoin either online, black market, Banks, face to face etc. Government of a country can only restrict the use of Bitcoin but can not ban it. The good news is that many country that go against Bitcoin are now regretting their actions and now investing in it.
Bitcoin cannot be prohibited, as it is an international payment system that depends on each individual user of the Bitcoin network. Each individual user of this network one dealing with this cryptocurrency has a blockchain program installed, which makes him the full owner of his money and the general director of his mini-bank, which is located on his hard drive. |
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Dannaey
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Experience the Future of DeFi
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August 11, 2019, 03:56:02 AM |
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I believe they can ban using Bitcoin. The government has the power to ban the buying and spending of Bitcoin, but they cannot destroy Bitcoin. I do not think that they will ban Bitcoin forever. Sometimes it is their delaying tactics to ban Bitcoin (temporarily), but eventually, they will allow people to use/buy. Whatever the government is planning up to, they still knew that Bitcoin is the future answer to our economic problems right now.
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