A Bill to Ban Buying All Cryptocurrencies

[Blockchain Mechanic]

That is going to fail so hard. How exactly do they intend to enforce such a law ?

[1715361459]

1715361459

[oseikuf44]

first step :   

https://www.youtube.com/watch?v=v2XqcWWnGqU

They are scared of crypto taking over traditional currency and tax payment.  They cannot just accept the fact that cryptocurrency had given financial freedom to people, and that the government it self cannot take advantage of it since it is decentralized and not controlled by anyone. Of course, the government is threatened that people will take their power as the government if people will continue to support crypto.

This is the same posture people made in 2017 and 2018 that crypto will take over traditional currencies yet it turn out to disappoint crypto investors. There is no much regulations in crypto and if government intend to impose bills to ban on buying and selling of crytpocurrencies in countries that have low supervision, then is ok.

[traderethereum]

That is true, but they don't think that people now become smart and people want to learn new thing that will help them to solve their problem.
I guess that will not give a bad effect to people and if the government still wants to do that, then they need to be careful with the people power
But soon, the government will realize the benefits of cryptocurrency, and in the end, the governments will approve the cryptocurrency.

All governments approving crypto? I don't think that will ever happen. Some governments will support crypto while some will always oppose it which is not such a big deal since you cannot ban crypto completely.

You can think that will never happen, but we don't know what will happen in the future, right?
There is a chance for all government to approving crypto especially if they can realize what is special from crypto and how they can take the advantages from the crypto.

[AndreyVen]

They stand no chance. Tried to ban Alcohol, didn't work, imagine banning a digital good this time.

More and more privacy oriented features are being built to protect from exactly this kind of hostile behaviour.

[TimeBits]

Ok, I am thinking the peaceful option I have proposed is about to go out the window.
You traders ready to trade time for bitcoin?

[TimeBits]

a lot of are power comes from forcing people to use out b.s. money supply.

[Isiaka208]

This will further put US on a step backward in crypto world. There's really not going to be much impact in pricing if this scales through in the end but I don't see an end of this decentralized economy just yet.

[TimeBits]

Can we make a bill to outlaw fiat?

[TimeBits]

Did u guys hear? he almost said out law owners.

https://youtu.be/v2XqcWWnGqU?t=7

[TimeBits]

btw this is actually good news, the faster they ban fiat trading into bitcoin, the faster bitcoin can serve it`s purpose, also they won`t be able to trade their own b.s. money supply for it ^_^

[SaShiRaJaVu]

If USA will ban BTC, there will be no BTC.  USA is the biggest market.

I am not sure in what world you are living, let us assume that the US government will come up with a regulation that trading bitcoin and conducting bitcoin is illegal, businesses will shift to other countries where it is legal to conduct business and people will still keep on trading, you cannot shut anything down completely, that was a hypothetical situation, US is just one country and the entire world does not revolve along one country.

[Chacha1000]

This move will give bad effect to people and if the government still wants to do that, then they need to be careful with the people  because many people will protest it to any level.

[TimeBits]

If USA will ban BTC, there will be no BTC.  USA is the biggest market.

This has to be the dumbest post I have read on here in awhile. IF ALL FIAT DIED, THERE WOULD STILL BE BTC!

oh btw Mr. Sherman
YOU GOING TO BAN GOLD AGAIN TO? FFS!

I am going to ban hammer all of your kind from my universe very soon.

[TimeBits]

The Government
gang·ster
/ˈɡaNGstər/
noun
noun: gangster; plural noun: gangsters

    a member of a gang of violent criminals

Most of the police force and military:
thug
/THəɡ/
noun
noun: thug; plural noun: thugs; noun: Thug

    a violent person, especially a criminal.
    "he was attacked by a gang of thugs"
    synonyms:   ruffian, hoodlum, bully boy, bully

I KNOW A LOT OF YOU ARE GOOD PEOPLE, YOU ARE JUST UNAWARE AND YOUR COMMANDING OFFICERS EN$LAVE YOU!

mob·ster
/ˈmäbstər/
nouninformal
noun: mobster; plural noun: mobsters

    a member of a group of violent criminals; a gangster.

Both of you:
bully:
/ˈbo͝olē/
noun
noun: bully; plural noun: bullies

    a person who habitually seeks to harm or intimidate those whom they perceive as vulnerable.
   "you mustn't give in to the village bully"

    seek to harm, intimidate, or coerce (someone perceived as vulnerable).

[BennyK]

This is another clear indication of the fear the governments have concerning cryptocurrency. Cryptocurrency is gradually winning the war because it gives financial power back to the people and the governments fear that ones this power is taking from them and given back to the people by crypto, the may lose control over the people which is not the case.
Taxing individual Bitcoin or crypto transactions can pose some difficulties hence if tax implementation is one of their cases, then they should target the exchanges where every trader ends up finally - here each trader will pay tax indirectly through the transaction fees.

[Yakamoto]

If USA will ban BTC, there will be no BTC.  USA is the biggest market.

I am not sure in what world you are living, let us assume that the US government will come up with a regulation that trading bitcoin and conducting bitcoin is illegal, businesses will shift to other countries where it is legal to conduct business and people will still keep on trading, you cannot shut anything down completely, that was a hypothetical situation, US is just one country and the entire world does not revolve along one country.

While businesses can move their operations out of the United States and opt to set up in more "Bitcoin-friendly" countries, such a ban on the purchasing of Bitcoin would be a ridiculous blow to the American Bitcoin community and definitely be a serious detractor for overall Bitcoin adoption. The US Bitcoin market is probably within the top three in the world if not the top two, and having it suddenly get removed due to a move from the US government will nuke the interest the average person has in Bitcoin. That, and it makes it significantly harder to earn/exchange Bitcoin in the US because there would be no legal way to sell it, at least within the country. Maybe there could be loopholes which allow people to sell it to foreign nationals. Even if it just bans the purchase of Bitcoin domestically, that's still a massive blow to the American community.

Such a law would be passed off as an anti-terrorism measure because that's what's used to kill freedoms and systems outside the conventional institutions. Everyone laps it up too, that's the worst part.

[pushups44]

If USA will ban BTC, there will be no BTC.  USA is the biggest market.

I am not sure in what world you are living, let us assume that the US government will come up with a regulation that trading bitcoin and conducting bitcoin is illegal, businesses will shift to other countries where it is legal to conduct business and people will still keep on trading, you cannot shut anything down completely, that was a hypothetical situation, US is just one country and the entire world does not revolve along one country.

While businesses can move their operations out of the United States and opt to set up in more "Bitcoin-friendly" countries, such a ban on the purchasing of Bitcoin would be a ridiculous blow to the American Bitcoin community and definitely be a serious detractor for overall Bitcoin adoption. The US Bitcoin market is probably within the top three in the world if not the top two, and having it suddenly get removed due to a move from the US government will nuke the interest the average person has in Bitcoin. That, and it makes it significantly harder to earn/exchange Bitcoin in the US because there would be no legal way to sell it, at least within the country. Maybe there could be loopholes which allow people to sell it to foreign nationals. Even if it just bans the purchase of Bitcoin domestically, that's still a massive blow to the American community.

Such a law would be passed off as an anti-terrorism measure because that's what's used to kill freedoms and systems outside the conventional institutions. Everyone laps it up too, that's the worst part.

Fortunately, enough billionaires are involved in cryptocurrencies to fight fiercely over any attempts to ban it. Also, the American government itself has an incentive to keep bitcoin alive - for clandestine operations requiring funding from outside of Congress. Also, any politicians who attempt to stifle blockchain innovation could be accused of attacking the economy itself. It is highly doubtful such a bill would gain traction.

[Gaaara]

I already knew it would happen but didn't expect it to happen later than I anticipated, I think the reason behind this bill is because they know what cryptocurrencies are capable of, a digital coin that cannot be manipulated by any governments and this is the main reason why governments are seeing cryptocurrencies as threat and call it an outlaw.

Bitcoin and other cryptocurrecies are started being recognized again and is it a good thing or bad, I always say that any news that regards cryptocurrencies is favorable to it but if its a news making a law out of it then I don't see a good cause around this.

[Caladonian]

such news will affect investors who relied with news, but for those supporters around it will be an ordinary obstacle again for this growing industry, this Congressman have it's own understanding regarding to cryptocurrency and most of his principle might be influenced by the current fia system, few post above me showed the involvement of the Banking businesses behind his campaign supports which highly explained why he made this action.

[jademaxsuy]

I do not think that this could push through. It is the people to decide whether cryptocurrency is bad or not for the community. But, to what i have been seeing lately and it is of course cryptocurrency had made some good reviews from the community that benefited the system.