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Author Topic: Will bitcoin get banned worldwide?  (Read 891 times)
maman567
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September 02, 2019, 02:24:02 AM
 #21

Bitcoin get positive respond from around the world and hard banned, many investor and company accepted bitcoin as their payment transaction and now get good effect.
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September 02, 2019, 04:08:18 AM
 #22

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.


Now there are so many countries that ban bitcoin, these countries are china, singapore, russia and many more. The reasons are virtual currency is difficult to control, often used for illegal transactions, money loundering and easing terrorist funding. These reasons does look reasonable but it seems that these country have other reasons for their own interests. For example is china, this country ban bitcoin because of these reasons but china plans to create their own virtual currency. Deputy chief payment bank of china said that this virtual currency will not mimic cryptocurrency in general but instead uses a  more complex structure. In my personal opinion, it is hypocritical act.

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September 02, 2019, 04:25:31 AM
 #23

It has started in many countries.
There was a time when no one knows about bitcoin, now a lot of people hold it. Only a few countries have announced it as illegal. Some countries have no laws for bitcoin, you can use there as well. The adoption is increasing and the chances of being banned worldwide is barely possible. 

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September 02, 2019, 04:40:35 AM
 #24

Bitcoin is already used a lot in criminal activities.
And before the invention of bitcoins there were no criminal activities? And since the bitcoin has invented everyone moved to bitcoins to do their crimes?


It's been over 10 years now and still we are asking the same question.

A country can ban bitcoins but that's not gonna stop it's user to use it. I hope more and more people learn about how money has been created then they will never question bitcoins.

Dollar is not backed up by anything but all other currency is backed by dollar. This is so wrong but fact is that average joe or even the most intelligent human being in the society does not have much clue about this section to find it wrong.  

If FED prints dollar then it's okay but if someone gets the printing machine and print the same dollar then it's a crime LOL

The society is in the wrong side. The fiat should be banned worldwide.

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September 02, 2019, 05:02:22 AM
 #25


The entire power of the protection racket business called "government" is dependent on the monopoly in creating "money" by fiat, declaring "legal tender", looting the population through direct and hidden robbery (aka "taxes" and "inflation"), and controlling all that by issuing banking licenses.

Additionally, the members of these gangs do all that exclusively through coercion, and assert a natural moral right to do so.

So, anything that threatens that, of course, will be "banned" by them, as soon as Bitcoin threatens their business model significantly.

However, so are prostitution, "drugs", "money laundering", "tax evasion" and many other eternal activities "banned" in most territories, even though they present no threat to the "government" business model.
(On the contrary, those are  part of their revenue stream, power and control foundation, in order to be able to declare anyone a "criminal" at any time.)

So, they will for sure ban Bitcoin, once it's a clear and present danger to their profitability, but they will also use it, because it's "criminal money", and they are in reality the biggest criminals at any time in history, and in every culture.
(To kill or rob a few people, takes only one person. To kill or rob on massive, industrial scale, it takes "government"!)

Watch the progress here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
(India is almost 18% of the world population; so, if that ban passes, we're well on the way. That gang certainly correctly sees it as a clear and present danger to their business already. )
 

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September 02, 2019, 05:55:36 AM
 #26

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



Let me share an interesting fact about this banning/regulating situation.

Countries that legalized bitcoin - Japan, Germany, USA, European Union, South Korea

Countries that banned bitcoin - Bangladesh, Pakistan, Algeria, Egypt, Morocco, Chile, India (On the verge of banning)

Reference: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

It clearly shows a very interesting contrast of how financially and technologically advanced countries have legalized bitcoin and how third world countries have banned bitcoin. Banning bitcoin worldwide will not give any solution to the current problems countries are facing from the pseudonymous nature of the bitcoin transactions. Rather governments should adopt precautionary measure to eliminate the negative effects of bitcoin and nurture the positive ones.

I don't think a worldwide ban is possible because some major economies of the world (as seen above) have already legalized it for good and banning doesn't offer any solution to the AML and terrorism financing issue. Rather adopting to strict regulatory measures as per the FATF guidelines can be practiced by the countries in coming years!  

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September 02, 2019, 06:59:50 AM
 #27

the whole point of having a decentralized currency is that it should not matter what the governments and the centralized power says about it, in the end if bitcoin (the decentralized currency) could not operate if they banned it then it should be considered failure. which is obviously not the case, bitcoin is resilient to all the shenanigans that any government or all might pull. and that is why it is unique and powerful.

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September 02, 2019, 07:34:07 AM
 #28

There are countries that oppose centralization. So there will cryptocurrency will prosper when most countries will be going against crypto. Bitcoin cannot be completely banned because people like it. There have been no cases in history for the state to suppress the people, people will defend Bitcoin for sure
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September 02, 2019, 07:43:29 AM
 #29

if bitcoin gets banned from all countries it feels ridiculous because bitcoin has very different movements, bitcoin will not be controlled by anyone, so i conclude that nothing will be able to prohibit the movement of bitcoin from all countries.
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September 02, 2019, 07:47:29 AM
 #30

It seems to me that no one country will not be able to completely ban cryptocurrency, especially Bitcoin. See how fiat structures die and some countries are on the brink of crisis. People will look for options to save their money and business, and the best way is the cryptocurrency market and believe me, no country can stop it.
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September 02, 2019, 08:31:01 AM
 #31

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



Don't you know that bitcoin was pseudonymous? were every transaction of each Bitcoin enthusiast was all recorded into the blockchain, where no one knows to whom transact is this, something like that dude. Where the only one knows who have the private key, password and et. So,
I doubt that Bitcoin will get ban worldwide it is because most of the companies and merchants nowadays are using the concept of blockchain.
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September 02, 2019, 09:25:55 AM
 #32

Recently in our country, the PAC coin is already on the mainstream news channels. It has still something to do with cryptocurrency and in our case, I don't think it will get banned especially that one of our politicians are actually launching a coin. Government institutions can't ban it, but they can always regulate it.

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September 02, 2019, 10:07:59 AM
 #33

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

Yes it is true, if more years to come a lot of people know and use bitcoin as payments.. everyone will loved the use of easy transaction everywhere we are. better to be prepared on it.


One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worldwide. It has started in many countries.

Nobody will banned it, because as we see a lot of crypto investors are going to fight against that.. like china and other country that restrict btc, are they restrained? they did not. because btc as virtual money, are going to help the economy in future.

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September 02, 2019, 10:17:25 AM
 #34

I dont think it is impossible.if bitcoin continues like this and become a serious threat to fiat money esprcially against usd, its possible.or they want to take control bitcoin and crypto.

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September 02, 2019, 09:24:29 PM
 #35

It won't be banned worldwide. Don't be stupid.

I fear the day when multiple countries are going to take Bitcoin down. Bitcoin is already used a lot in criminal activities.
Has the fiats be excepted from being use for criminal activities? Let not forget that, the government has been and always use fiats for money laundering across the globe and here they want to ban crypto the most transparent online transaction. Bitcoin can't be ban but can be stop in some regions I guess but this will not happen now nor near future.

Yes. Criminals use fiat. Ban fiat!! xD

Also nice mentioning the government, they so ironic right?

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September 02, 2019, 09:38:03 PM
 #36

Bitcoin being banned worldwide is an absurd idea since prohibiting it would be tantamount to banning the internet itself! Also, if we

could only see the increasing adoption rate and popularity of Bitcoin and other cryptocurrencies, then we can say that it will make it even

more less likely to disappear in the foreseeable future.

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September 02, 2019, 10:49:59 PM
 #37

My answer is No because other countries already legalized cryptocurrency including bitcoin. Maybe other country banned bitcoin for some reasons but i believed ,it will not happpen for worldwide specially now that it gained more popularity day by day.

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whtchocla7e
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September 03, 2019, 03:19:12 AM
 #38

LOL. Are you kidding? Bitcoin is the basis of all cryptocurrency platforms on blockchain technology. In the developing world, we need blockchain, we need quick payments and secure, open and transparent security. Blockchain meets this, and bitcoin is indispensable in the future. They may ban Bitcoin, but it's not entirely, we can still trade it. Many countries ban bitcoin, but it is still growing, still trading billions of dollars daily.

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September 03, 2019, 03:53:08 AM
 #39

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



Many countries are now developing businesses in the online field. Even many people have great earnings through online such as online trading, online gaming, and more. With the advent of the crypto industry will definitely add revenue to the results for many people. Bitcoin is one of the coins that until now has a very high selling value.

Any chance to make money will certainly be no risk. Buying and selling items online also have a risk. So I think positively that crypto will not be blocked because some countries have also developed this industry.

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September 03, 2019, 09:12:02 AM
 #40

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.
It has started based on your own assumption and based on what you read on newspaper or social media, but have you ever wondered what is happening in the real country or asked those who are living in those countries if they have really banned them, and if they have in what way has it really affected the usage of cryptocurrency buy the citizen.

I just read this morning same on this forum where I saw that a crypto owner was murdered by his partners because he refuses to release the details to them, and when I looked at the country, it happened to be India, and you know what we have heard of India, so even if India had banned cryptocurrency, its citizens are still using it is a very big way. Imagine an Indian having up to that amount in his wallet despite all the ban rumors.

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