Government ban on crypto

[Lmaooo]

Bitcoin is not a fiat currency... the government can't just ban bitcoin because they are not the ones in control. The government can only ban something they control over such as fiat money or something like that. Bitcoin is a peer-to-peer digital currency that is fast, secure, and decentralized. Thus, the government has no power over bitcoin, the government can only regulate bitcoin at certain levels.

[Zilon]

Government ban on Cryptocurrency is a product of selfish interest. Some government financial regulatory agencies are seeking on how to generally centralize the total asset and financial status of their economy.

Most country went as far as creating their own Crypto currency. This has lead to the ban of Crypto currency in many part of world with the aim of promoting their own digital currency

[rosebrand]

If some countries decides to  lay a ban on bitcoin or restrict bitcoin transactions in thier countries it won't affect bitcoin that much and like you say most big investors will have to battle with thier government about such decisions, and also if a country put a ban on bitcoin it will only make things hard for the crypto users in that country and there will always find a way to make transactions which means going against the rule of their government. The government puts a ban and can't carry out action checking if citizens are really obeying the rules because there don't have access to every one's phone and crypto users will still always find a way to transact which means the ban eventually does not have an effect on them.

[best123]

Banning Bitcoin has been a talk for long while but instead of getting it ban, it is still gathering momentum in the world. Ban Bitcoin at this stage will be difficult because some High profile individuals are now involved.

[MCobian]

I believe the government knows the benefits of cryptocurrency, but they pretended to close their eyes and decided to ban cryptocurrency.
This is because the government is afraid that cryptocurrency can replace fiat and stop Banks system, but it's just a fear that won't happen.
If we think carefully and use our logic in thinking, then we will realize cryptocurrency can never replace fiat. At least for quite a long time,
because we know crypto transactions require an internet network. And not all areas have been covered by the internet network. Therefore,
the presence of fiat is still very much needed, so the government does not need to exaggerate that the presence of crypto is a threat.

[XZERO1]

There were always some countries that wanted to ban Bitcoin or crypto in general and still to this day there are some of them that are not so accepting towards crypto currencies for obvious reasons, one of those reasons would be them making less money from their banks and the other reason is the fact that it would be harder to track and control people that are using decentralized cryptocurrencies to send and receive funds instead of using their centralized banking system.

But at the end of the day they have to accept the fact that crypto is going to take over traditional banking system or at least modernize and improve it for better efficiency, there are already a few countries that are starting to realize it and instead of fighting it, are adding new rules which could help the better adoption of cryptocurrencies, Japan and Switzerland to name some of them.

[Matimtim]

Crypto currency is decentralize currency means no people in control behind this digital currency, in that way crypto is not easy to ban in one specific country;  however they can make a laws imposing penalties those who use crypto currency in their place of jurisdiction, but that law will applicable only to the people who caught using crypto currency but can't be impose penalty to those using crypto currency anonymously.

[molsewid]

There were always some countries that wanted to ban Bitcoin or crypto in general and still to this day there are some of them that are not so accepting towards crypto currencies for obvious reasons, one of those reasons would be them making less money from their banks and the other reason is the fact that it would be harder to track and control people that are using decentralized cryptocurrencies to send and receive funds instead of using their centralized banking system.

But at the end of the day they have to accept the fact that crypto is going to take over traditional banking system or at least modernize and improve it for better efficiency, there are already a few countries that are starting to realize it and instead of fighting it, are adding new rules which could help the better adoption of cryptocurrencies, Japan and Switzerland to name some of them.

Of course there will be one or many countries that their government sees that the existence of cryptocurrency usually the adoptation may become a threat to their economy. So one of their action to these speculations was to announce it as ban or using it was hardly prohibited. Well of course one thing that the government may think it as a threat was the characteristic of cryptocurrency being decentralised meaning to say the government has nothing to do to make cryptocurrency under their control.

[yazher]

If US are going to ban bitcoin, they have done it years ago, but they let it flourish and now it's being used as a hedge by big institutions and companies. I think we don't know another discussions about it unless we see a change in the air as far as US government stance on bitcoin. There could be countries that have banned bitcoin, but they are only a few and look at what kind of government they have.

I agree with you that this kind of scenario will be impossible since there are already lots of big names that are involved in the current development of its price especially this year. They could have done it years ago if they really wanted to but they didn't. that's because they know what's the best thing Bitcoin could bring to their country and the proof for that is some of their government officials have already talked about its benefits and some of them already invested in it along with the big names companies that are located in the USA.

[Luzin]

What's should I think because my country government already declared cryptocurrencies as legit and they never permit bitcoin . My neighbour countries parliament already ban cryptocurrencies. But people over the India cannot leave bitcoin at all.

Where do you live? I'm a little confused what you mean. What is meant by prohibition here? Is the payment prohibition or prohibition against doing activities on crypto as a whole?

but that law will applicable only to the people who caught using crypto currency but can't be impose penalty to those using crypto currency anonymously.

Maybe this is one way of getting around the rules. But if the authorities have the expertise to trace transactions, Anonymous can eventually be found. For example, through Fiat's account, he can track the transaction from where the money is coming from. There must be a barrage that can be investigated gradually.

[Bitstar_coin]

If this would happen then it would have been long ago when btc was still in it's infancy and not known to many, right now btc is well known, this time big companies and affluent personalities are involved, it will be difficult to impossible for the government to ban btc now, even if the try it won't stick since blockchain can not be controlled by anyone.

[Yatsan]

Banning cryptocurrency in a country like United States where there are lots of cryptocurrency users will be nearly impossible to make happen for the reason that they are continuously nourishing cryptocurrency usage within their scope and have visible works like Bitcoin ATMs scattered around that supports cryptocurrency usage as well as merchants who accepts Bitcoin as a mode of payment for purchases. If government would like to ban cryptocurrency, they would have done it a long time ago but since they have not done such, then it will be assumed that they will not be putting their hands into such issue concerning crypto.

[2double0]

Stopping bitcoins would be like going back to where we came from, and that is the monkey era where we knew nothing, no internet, no food making, no money, no excitement of earning it, no competetion, nothing. And it will also make up our mind that we are government's slaves and can't go against them as we will suffer badly if we try to stand against an already established power. I do not think that btc can be stopped even if it is banned because people are so clever they will find any way to trade it.

[cyriljundos]

i think government should not consider bitcoin as an illegal.other government ban bitcoin and they destroy the image of bitcoin. for megovernment also invested in bitcoin not telling to people that they invested in so  that government benefit for their own good. Bitcoin has been phenomenal this year. rising and rising every year

[proTECH77]

Those countries that ban crypto, they don't know the benefits and progress that attached to any countries that make cryptocurrency legalized  in the society. Cryptocurrency was a good gift Satoshi Nakamoto gave to the world, to use to secure their payment and to store money without any fear.
Many countries that legalized cryptocurrency are seriously enjoying the gift that the founder of cryptocurrency gave to the world. It reduced so many negative things in the country for  those countries that made it legalized in their land and to do everything possible to protect cryptocurrency in the country.

[Darkelf11]

It's just my opinion only I think they would like to ban those users of the cryptocurrency in their country because again its decentralized and no one handles and it's doesn't help the country itself because the government doesn't handle this kind of money transferring we all know that the bitcoin is a tax less so we won't worry but the government does. Unless they will create a centralized platform that most users will use this so that they can get a commission on their transactions.

[Kong Hey Pakboy]

i think government should not consider bitcoin as an illegal.other government ban bitcoin and they destroy the image of bitcoin.

That is the best thing to happen to bitcoin, being recognized by the state in a good way but every government differs in their way of thinking so we don't have a grasp on how they think unless we put people in the seat that knows what they are doing, competent and deserves their seat. There are a lot of reasons for governments to ban bitcoin and I don't think that they really want to destroy the image because if they were to ban it then the image of bitcoin is already destroyed in their perspective.

[xanxus.kun]

To simply those list, its decentralized currency, banks and government can't make a profit from cryptocurrency so they would rather ban and ensure that people would stick to the regular currency which then can regulate. Its nothing new, tons of government bans Cryptocurrency to the point that there are certain countries bans mining as well.

[bitterguy28]

If US are going to ban bitcoin, they have done it years ago, but they let it flourish and now it's being used as a hedge by big institutions and companies. I think we don't know another discussions about it unless we see a change in the air as far as US government stance on bitcoin. There could be countries that have banned bitcoin, but they are only a few and look at what kind of government they have.

Because the truth is? US is playing with Bitcoin and the whole market of it (Including altcoins) because just like what you said they can easily banned this or even stop if they want it.

But clearly they dont and they wont because of the benefits that they are gaining or the benefits they will get in the future.

[isaac_clarke22]

~

Because the truth is? US is playing with Bitcoin and the whole market of it (Including altcoins) because just like what you said they can easily banned this or even stop if they want it.

But clearly they dont and they wont because of the benefits that they are gaining or the benefits they will get in the future.

...or maybe the government is hiddenly hodling Bitcoin already so that people would sell their coins when they impose a ban, causing price to plummet and they'll take the coins that have been dumped.
Hodling Bitcoin in such specific wallets like cold storage would make them anonymous, or pseudonymous at the least and people wouldn't know.