Bitcoin Ban via Executive Order Increasingly Unlikely

[cheezcarls]

Recently, United States President Donald Trump backed off on banning flavors for e-cigarettes. This may be an indication that he’s hesitant to back any wholesale bans — like, for example, on Bitcoin or other cryptocurrencies.

Vapers rejoiced recently as President Trump backed away from banning flavored e-cigarettes. After significant hysteria over deaths from supposedly faulty cartridges, it seems that there will be no ban put in place. It’s a surprising move that demonstrates the President’s hesitancy in outright banning products on American markets.

To read the full news, here is the source link

What can I say? It ain’t gonna happen! Even if $100k per BTC will be reach, it’s unlikely to be banned by Donald Freakin’ Trump! This is why he needs to be educated more about Bitcoin, and it’s time to swallow his own pride.

Bitcoin and cryptocurrency industry has been “red hot” in the United States despite the strict ICO regulations. There is no stopping them from putting up their own crypto company as long they would secure a license from the US SEC. Trump can’t do anything about it, so the chances for Bitcoin to get “banned” after it reaches $100k (or not) via executive order would be absolutely nothing at all. Correct me if I’m wrong though.

What do you guys think about this? Let me know your thoughts and opinions here. Cheers and have a great day ahead!

[Kyraishi]

Here's the problem with banning anything out-right, cigarettes, e-sigs, drugs, alcohol, and even BTC to a certain extent.

When you ban something, it always creates another, illegal or darknet market for it

Which means it becomes even harder to monitor that item, or track it's movements in your market. It's way harder to control the illegal market then it is for the real-life one, and you can tax it to hell, but if you ban it all your going to do is create a huge problem for yourself.

[DooMAD]

I've seen some tenuous links before, but this really is a stretch.  What next?  Recently they didn't ban socialism, so clearly they're unlikely to ban broccoli?  What the hell kind of news story is this?

[dimastegar]

Here's the problem with banning anything out-right, cigarettes, e-sigs, drugs, alcohol, and even BTC to a certain extent.

When you ban something, it always creates another, illegal or darknet market for it

Which means it becomes even harder to monitor that item, or track it's movements in your market. It's way harder to control the illegal market then it is for the real-life one, and you can tax it to hell, but if you ban it all your going to do is create a huge problem for yourself.

Yes, of course the American government also saw this. They need to review if they want to be banned Bitcoin in their country. Because I'm sure many people there have already made a lot of money from Bitcoin.

[tomahawk9]

"Increasingly Unlikely"...Did anyone expect the opposite? As long as the system can profit from something (with taxes and whatnot), they won't attempt to ban it, simple as that.

Now, about the article you posted, OP...Wtf do e-cigarettes have to do Bitcoin? A bit strange to see someone like Thomas Lee from Fundstrat make that connection, I mean, if they don't ban vaping, they won't ban cryptos...WHAT??

[bL4nkcode]

They can ban, give restrictions to anything they want tha violates their own right, but that doesn't mean people will stop using it.

[sikke]

And even if they did ban BTC through any form of legislation, including an executive order, what would it actually result in in terms of enforceability? Probably absolutely nothing, given the fact that bitcoin is decentralized.

If this was possible, then countries would have done it long ago - they are not stupid.

Either way, know that BTC can survive without the support of any central entity, as demonstrated by the bull run after China essentially banned all miners and exchanges.

[avikz]

Bitcoin ban in US is not possible, especially when then have state laws made favorable for bitcoin and other crypto related businesses! Even though the laws are strict in most states, still it has a regulatory framework given for crypto usage! There are many other countries where no crypto framework is present and the Central Banks have banned crypto related transactions arbitrarily! US already is in a better position when it comes to crypto, so I don't really think they will ever impose outright ban on it!

P.s: Trump can do anything!

[jseverson]

And even if they did ban BTC through any form of legislation, including an executive order, what would it actually result in in terms of enforceability? Probably absolutely nothing, given the fact that bitcoin is decentralized.

If this was possible, then countries would have done it long ago - they are not stupid.

You'll find that the threat of jail time is more than enough to dissuade a lot of users. Hardcore users will continue what they're doing, but keep in mind that this will also hurt user experience -- no more exchanges, businesses can't accept crypto payments, etc. The fact that Bitcoin prices have a tendency to run on news (and one of the biggest and most active markets being shut down would be bad) could also lead to prices plummeting. Bitcoin won't die, but a move that drastic would undo several years worth of community development.

Either way, know that BTC can survive without the support of any central entity, as demonstrated by the bull run after China essentially banned all miners and exchanges.

China backed off the mining ban, and they still let OTC exchanges operate.

As for the topic itself, Trump has already banned Petro with an executive order, which is more closely related to Bitcoin than e-cigarettes are. Does that mean we should be scared?

[Kyraishi]

Here's the problem with banning anything out-right, cigarettes, e-sigs, drugs, alcohol, and even BTC to a certain extent.

When you ban something, it always creates another, illegal or darknet market for it

Which means it becomes even harder to monitor that item, or track it's movements in your market. It's way harder to control the illegal market then it is for the real-life one, and you can tax it to hell, but if you ban it all your going to do is create a huge problem for yourself.

Yes, of course the American government also saw this. They need to review if they want to be banned Bitcoin in their country. Because I'm sure many people there have already made a lot of money from Bitcoin.

Not sure if I quite understand your point here, but sure. They won't be able to ban bitcoin and other crypto-currencies unless they want to create a very angry crowd of people who they've made lose money.

They could do this in a slow, secretive way to be honest. Choke off exchanges and reduce what bitcoin can do in their country, basically rendering the payment method section of Bitcoin useless to all their citizens.

And even if they did ban BTC through any form of legislation, including an executive order, what would it actually result in in terms of enforceability? Probably absolutely nothing, given the fact that bitcoin is decentralized.

If this was possible, then countries would have done it long ago - they are not stupid.

Either way, know that BTC can survive without the support of any central entity, as demonstrated by the bull run after China essentially banned all miners and exchanges.

It wouldn't kill it - only bring it to the dark-net market.

[CryptoBry]

Just because the current POTUS do not like Bitcoin, it does not automatically mean that the US government is planning to restrict more or even ban Bitcoin. I am sure that there a lot of things that President Trump do not like and even hate but he is not banning them. For sure, he is not in sweet terms with Hillary Clinton and Barack Obama, but is Trump banning them? Of course not.

People just have a very creative imagination that they can see the links even if they are not there. All of these are just speculations and ideas which for now remain unsubstantial. To ban something, in my opinion, requires the approval of Congress and that is why I think there was a bill filed in Congress to control Bitcoin which of course received a cold reception from many lawmakers.

No matter how stupid Trump the media is presenting and painting him to be, he won't risk the many gains that this industry has already produced for the economy of the USA to go to waste. 

[Broly46]

What the ❤️❤️❤️❤️ Is this “executive order”, does it carries the weight of nuclear strike on the planet earth? I think it’s the end game order from the hell.

[Willitivity]

This ban has been long coming, time over time the executithas been deliberating on it but yet to make a definite stand. If the US government wish to finally place a total ban on Bitcoin or cryptocurrencies in general, then that would be so bad for the citizens and some businesses which are already accepting Bitcoins for payment.
I don't see the likelihood of a ban coming anytime soon, maybe some tighter regulations and heavier taxing.

[Kakmakr]

Donald Trump might soon just be a part of the USA history and one of the most controversial presidents that they ever had. You cannot base your assumption on the current president, because he will not be in the White house forever.

Also remember when Donald Trump was up for election, everyone thought that he was pro Bitcoin, because he surrounded himself with pro Bitcoin supporters, but this quickly changed when he got into power.

Politicians can basically do what they want, until they get booted during the next elections. Your vote will secure Bitcoin's future. Look for a genuine Crypto currency supporter for your next President. 

[bitcampaign]

even if Trump tweets about the prohibition of using bitcoin, I would certainly laugh at that because I know he doesn't really know about bitcoin and other crypto currencies, it's true that I think he needs to learn a lot about this technology so it doesn't always take steps that make others see it as a joke

[Tipstar]

US is a democracy and in most of it's time has stood for the will of people. I hope US would openly embrace the bitcoin and blockchain technology rather than going backwards and banning it like brutes. While many European and Asian countries are moving forward in blockchain, the one's not embracing it would remain behind on the technologies of future.

[The Sceptical Chymist]

Bitcoin and cryptocurrency industry has been “red hot” in the United States despite the strict ICO regulations.

I couldn't care less about the US regulating ICOs to death, since most of them are scams anyway and nearly all of them are just worthless at best.  However I would very much care if the government started to regulate bitcoin to the point where people wouldn't want to own it.  That could be devastating, even if the US is only one country.

As far as Trump is concerned, he'll probably get impeached before he gets to slap bans on anything--but he's one president in a four-year period of time.  Nobody knows what the next president will do or who that'll even be yet.  It's quite probably the US won't get another complete psychopath like Trump, but that doesn't mean that prez won't take a disliking to crypto.

[dimonstration]

This ban has been long coming, time over time the executithas been deliberating on it but yet to make a definite stand. If the US government wish to finally place a total ban on Bitcoin or cryptocurrencies in general, then that would be so bad for the citizens and some businesses which are already accepting Bitcoins for payment.
I don't see the likelihood of a ban coming anytime soon, maybe some tighter regulations and heavier taxing.

Even they banned it people will eventually find a way to access it, know that exchanges in China were still banned in using by their people but who knows there are still many who uses it. It was just they can limit, give laws and restriction but it's still a online activities that can be used by other means that is out of control by the governments.

[coin-investor]

To read the full news, here is the source link

What can I say? It ain’t gonna happen! Even if $100k per BTC will be reach, it’s unlikely to be banned by Donald Freakin’ Trump! This is why he needs to be educated more about Bitcoin, and it’s time to swallow his own pride.

Bitcoin and cryptocurrency industry has been “red hot” in the United States despite the strict ICO regulations. There is no stopping them from putting up their own crypto company as long they would secure a license from the US SEC. Trump can’t do anything about it, so the chances for Bitcoin to get “banned” after it reaches $100k (or not) via executive order would be absolutely nothing at all. Correct me if I’m wrong though.

What do you guys think about this? Let me know your thoughts and opinions here. Cheers and have a great day ahead!

Since Bitcoin Creation how many US president do we already have and still Bitcoin is here and still going strong, he might be impeached or the United States will soon have a new president, but Bitcoin will still be here, no executive order can stop Bitcoin, Bitcoin holders are also growing in the United States, and there will come a time that the community of Bitcoin holders will become a bloc voters.

[Lizzylove1]

Mr President actually no plan to ban bitcoin via any means, he needed to speak good of the USD and that is what he is called to protect and uphold as the defender of the nation. He is just a politician that needs to tell the world how strong the USD is even though he knows bitcoin is the real. Donald Trump as a business man knows the worth of bitcoin but he will just need to be silent in some areas.