High possibility major governments will BAN Bitcoin in the near future

[bitterguy28]

They may Banned Bitcoin but they will never stop this from spreading so I think it's equal . there are many government also that will consider the use of this coin and technology so i am not that worried at all.

and besides with the market movement now ? maybe considering this in the next time and not now.

No bets so far. Enough said.

 

[SirLancelot]

How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.  

Yes, they will be seeing bitcoin as a competitor. Most of them have already created their own cryptocurrencies or tried creating it but it never worked. Chinese digital Yuan was being hyped for a long time and now nobody talks about it, we can’t even remember whether that exists or not. That’s because nobody is ready to make use of any of these, people just prefer the normal decentralized cryptocurrencies that we are using like bitcoin, and ETH, they are not interested the digital coins that these governments wants to offer. They should rest please.

[CryptopreneurBrainboss]

How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own. 

Ok I think we have debated on this issue severally and have come to a conclusion that it doesn't really matter what they (the government) come up with because they'll fail woefully. They tried previously to create fud and cause panic among the investors and discouraged them form investing in the technology therefore bringing the coin down to it doom but all their attempts were in vain since it only had a short term effects on the may.

The government are secretly buying bitcoin just as the institutional investors were hiding before they made their holding public. The government know the technology is above their reach for all their selfish tricks. Don't be surprised if to know they must have go through all their books just to find something worthy of discredting the currency but all they can come up with is, 'it encourage criminal activities' meanwhile their fiats scams has been doing that for years now

There's a high possibility of the government finally joining the party instead of fighting it, knowing they are on the losing side already. Just my thoughts though.

[FlightyPouch]

Since they can't stop bitcoin, I don't think they will be banning it in the future. To be able to gain something from it, obviously, they will be making a law to tax it in the future. From the exchange or maybe in any form of way but I hope it still continue what it is right now. I don't see any taxation to crypto currencies to be effective as people can just evade it as long as they wanted it.

[Twentyonepaylots]

If they can't regulate it or profit from it, the government will surely ban it. That's just the case for most of the things they have tried to control in the past but were unable to make use of, bitcoin might fall to the same fate but the good thing about is that banning bitcoin might cause more people to leave the country which is not good for economy. So they might as well just let it be.

Since they can't stop bitcoin, I don't think they will be banning it in the future. To be able to gain something from it, obviously, they will be making a law to tax it in the future. From the exchange or maybe in any form of way but I hope it still continue what it is right now. I don't see any taxation to crypto currencies to be effective as people can just evade it as long as they wanted it.

Exactly, taxation looks like a good plan for them, but we can't be too sure people will just let this slide especially when other countries are able to invest in crypto scot-free, plus the huge transaction fees they will still have to pay.

[verita1]

A scenario as dramatic as OP paints it I don't think it's possible. The crypto community, social groups, and people in general are armed with knowledge, ideals, and truth. It is what we have noticed in recent days. GameStop was the great trigger that centralism demonstrated by trying to squeeze its tentacles and oppress the minority. But there is freedom and free thoughts that quickly reacted.

A brief description of the ideals that we defend by the most recent facts. Take a look at this tweet.

https://twitter.com/Dooowta/status/1355518304446627853?s=19

[Ridwan Fauzi]

This issue has been discussed many times, but there is no one especially who has been known how crypto currency work they didn't afraid of that. The regulation made by government only applies physically, we do have many way to still use crypto currency in any form.

Indeed, they have a right to make regulation but they have no right to manage the utilization. You can imagine how difficult they are if they ban crypto currency because in the internet field we have many ways to passed the ban. We still can use VPN and another way to access an exchange as an example. So as, the government decide to make regulation will ban crypto currency is a useless way.

[Ryker1]

^[snip]
Indeed, they have a right to make regulation but they have no right to manage the utilization. You can imagine how difficult they are if they ban crypto currency because in the internet field we have many ways to passed the ban. We still can use VPN and another way to access an exchange as an example. So as, the government decide to make regulation will ban crypto currency is a useless way.

Well, you have a point about this.
How they can regulate bitcoin that the fact that this has a decentralized nature and no one under control of this currency. Technically, they won't able to ban or just wasting their time because people still can use bitcoin in different tools use without even knowing if that is prohibited in your place. There are too many countries that had attempt to ban bitcoin, China and Indonesia as far as I remember but until now people keep accumulating bitcoin hoping to have again profit if they will invest in it. If banning is the purpose, I don't know how it will work but even shutdowns power source electricity bitcoin can still run without power.

[Sithara007]

India may be the first nation to ban "holding" of cryptocurrency (China only has a banking ban). A bill, which makes holding, trading or transaction of cryptocurrency a criminal offense (punishable by up to 10 years in jail) will be introduced next month (as per the parliamentary notes). Don't ask me how they are going to implement this stupid ban, but for the 5 million plus cryptocurrency users in India, things just got a lot more difficult. 

[MCobian]

I believe several countries are now in the process of creating their own cryptocurrency, but competing with Bitcoin is likely to fail. Moreover,
killing Bitcoin will never happen, because many parties are trying to kill Bitcoin in various ways. But it all ended in failure, and I am also optimistic
that Bitcoin will not drop to below $ 1000 again.

[Miaallen]

There's is no doubt that the governments are looking for ways to reduce the use of cryptocurrencies as it deters their control of financial system relating to individuals in their countries as most people and new entrepreneurs keep their excess funds in digital assets. This reduces the money in bank that can be given out in loans to new investors in physical goods or services provision.
Another thing is that cryptocurrency ensures funding are sent without being traced to a known individual.
Tracing blockchain transactions is possible and even very easy but you can't trace it to a known individual. Funds move across borders without government knowing what they're meant for. These are things governments don't want as the funds might be moving around for criminal activities.

And on criminalising the usage of crypto might not be possible considering the fact that majority of world powerful are now cryptocurrency holders or users plus this is 2021, technology which improves world activities might not be at all easy to clamp down.

[ninabobo]

Since they can't stop bitcoin, I don't figure they will boycott it later on. To have the option to acquire something from it, clearly, they will make a law to burden it later on. From the trade or perhaps in any type of the way, however, I trust it actually proceeds with what it is at this moment. I don't perceive any tax collection on cryptocurrencies to be successful as individuals can simply avoid it as long as they needed it.

[Alns]

Im sure that after mass cbdc adoption gov will start to ban crypto. And i really hope that this will not kill the whole market. Overwise, my live savings in ownr wallet will become totally useless

[kentrolla]

BTC is an asset which will always dominate in Crypto market the reason behind this is people are crazy on this coin because of popularity and demand.

I agree government has the rights to ban the coin but that could be a wrong decision in my opinion the only thing we need to look is how convenient and secure is to the public and if they are ready to take their own risk then why need to ban a popular coin?

[Asusnumbaone]

The major governments of the world have for some time been laying the groundwork for their own national cryptocurrencies. Does that matter? Yes, it matters a lot. Bitcoin will be a direct competitor.

Why do they do this? To remain in financial control and to stop financial crime like whitewashing of funds from happening. Is it likely to happen? Yes, the US banned holding gold privately in the 1930's. So that the US government was to be a monopoly gold holder in the US.

There is a clear danger that the US, Europe, China, Japan and others will get togheter and flat out ban and even criminalize the usage and holding of Bitcoin. Resulting in after the ban, if you are cought using and holding BTC, you would get a huge fine or jail term.

The price of Bitcoin would get killed completely, you would be looking at Bitcoin below $1000.

How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.  

Bitcoin has an high value than other currency  and it can use by all people because of the lacking of authority. Government would ban bitcoin if the criminals using it on terrorising or it will be a threat to the current economy of their country. It all depends o how it will use either bad or good it is on hand of the person

[Shasha80]

Even though every country eventually has their own national cryptocurrency, it will not be able to compete with Bitcoin. Especially to kill Bitcoin,
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.

[bryant.coleman]

Even though every country eventually has their own national cryptocurrency, it will not be able to compete with Bitcoin. Especially to kill Bitcoin,
because many people already like Bitcoin. Many coins have been created to beat Bitcoin, but nothing worked. Then regarding the major governments
will ban Bitcoin, it will never be possible as long as there is an internet network. Because there are always ways to make Bitcoin transactions, even
though the government prohibits them.

There will be a very noticeable impact on the market, if the governments try to ban Bitcoin. Don't forget the fact that the recent bull run was triggered by institutional adoption of Bitcoin, especially from PayPal. If the government imposes any sort of restriction, then these institutions are going to pull out immediately, resulting in a bloodbath at the market. Bitcoin will exist, but the global adoption will be severely affected. 

[k@suy]

There will be a very noticeable impact on the market, if the governments try to ban Bitcoin. Don't forget the fact that the recent bull run was triggered by institutional adoption of Bitcoin, especially from PayPal. If the government imposes any sort of restriction, then these institutions are going to pull out immediately, resulting in a bloodbath at the market. Bitcoin will exist, but the global adoption will be severely affected. 

Bitcoin and other crypto might be affected with any single fud or any single news from the government if they want to banned it in their country but as we all know crypto runs thru online I think it will take so many months or years before they can fully implement it, I don't know how do they stop people from using it, especially now many companies and even well known personalities are into bitcoin now such as Elon, so I don't think they will ban it, possibility is low.

[ene1980]

Bitcoin and other crypto might be affected with any single fud or any single news from the government if they want to banned it in their country but as we all know crypto runs thru online I think it will take so many months or years before they can fully implement it,

The price of bitcoin used to move according to the news and FUD in the past but in the past several months or over a year it is not responding to these manipulation, yes the tweet from Elon Musk made a huge difference as the price pumped for a while but that did not last long. The way a government will influence the market is by banning the exchanges running in their country even if they want to restrict it.

[sapnu]

Indeed the government will oppose with the use of bitcoin or other cryptocurrency considering the fact that it is all decentralized meaning they have no control over it. Taxes are also not included when you are transacting with crypto, only fees are there which shows that it is not beneficial for the government too. I think they are trying to restrict or lessen the use of it through making their own digital currency wherein at the end of the day, they will still have control over it. We still can't predict the future, anything can still happen actually but let us not waste opportunity while we are still allowed to invest in crypto.