Government ban on crypto

[pankowri]

The topic related US government can ban BTC,  we saw in previous onetime BTC was illegal here but people didn't obey this they used crypto for their progress and purposes then automatically BTC makes its position here. There are no ways to stop crypto just they can operate people's money. This will be great if some systems are correct which making this problem.

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[Innerpumper]

That was the beginning of bitcoin's entry into the country. All countries originally banned bitcoin including my country. But over time our country's unstoppable technology began to adopt bitcoin even now we have an investment regulatory body that currently also legalizes bitcoin as a commodity asset.

[mezzaluna]

Question

Do you guys think Bitcoin has any chance of being banned by the government? I keep hearing people say that Bitcoin has a chance of being banned, yet I don’t think so because very powerful people like Elon Musk along with other companies are large investors. Is their any weight to that statement?

What are your thoughts?

Again, Cryptocurrency being banned by the government can only boost its popularity because most people would like something when its infamous or even promoted since being banned by the government means more people would deep dive into learning it. Elon Musk can talk about it because he is a part of one famous Financial Technology company and he knows that adopting Cryptocurrency into his business is a great way to boost its credibility. Its also really impossible to ban Cryptocurrencies but what they can do is lessen the ways on how people can cash it in.

[Ludmilla_rose1995]

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

[k@suy]

It is not surprising for me to know that there are always countries that want to ban Bitcoin, it's all because Bitcoin cannot be controlled.
The government will then take safe steps by banning Bitcoin normally, moreover the government thinks Bitcoin can threaten the Banks system.
So it's no wonder some countries ban Bitcoin, and if there are countries that legalize Bitcoin, it usually can't be used for payments.
Usually Bitcoin is legalized only as a digital asset.

Not also surprising that out of the countries in the world there were definity one or more countries that were going to ban crypto especially bitcoin, and they will going to treat cryptocurrency as a threat to their countries economic especially that they can't control bitcoin or they can't put it under their regulations. But good thing for sure will happen and now are already happening that there were more countries that will going to adopt and legaluze bitcoin.

[yohananaomi]

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

what you say is very true , but if we as good citizens obviously will not violate the existing rules, because clearly it violates the rules and the consequences must be there. in fact, if the government wants to really ban it, of course it can be done. but maybe your government just wants to state that if something happens the government doesn't interfere, like banking in general.

[Abiky]

It is not surprising for me to know that there are always countries that want to ban Bitcoin, it's all because Bitcoin cannot be controlled.
The government will then take safe steps by banning Bitcoin normally, moreover the government thinks Bitcoin can threaten the Banks system.
So it's no wonder some countries ban Bitcoin, and if there are countries that legalize Bitcoin, it usually can't be used for payments.
Usually Bitcoin is legalized only as a digital asset.

Exactly. Governments see Bitcoin as a threat to the current monetary system. They might do everything in their power to try to stop it. A full Bitcoin ban might not directly affect the Bitcoin blockchain itself, but it could stifle its growth in the mainstream world. Most people will be scared to join Bitcoin if the government declares it as "illegal". Fortunately, Bitcoin will survive as not every country will ban its use.

Nonetheless, it looks like governments are too late to the game. If they really wanted to "destroy" Bitcoin, they should've done it within the cryptocurrency's early days. Now governments have no choice but to join the Bitcoin/Blockchain bandwagon. Who knows if every country in the world adopts Bitcoin as an alternative to Gold sometime in the future? Just my thoughts

[conected]

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

- The government action and ban is just a blow to the air, investors just need to take a little more time to solve this problem through VPN software, really don't understand what the government's efforts to do or what they want to prove, this stubbornness only makes the generation behind limited exposure in this area. Besides, the governments of these countries are stagnating their own development compared to other countries because so many businesses have entered crypto, their revenue will soon become tax money for the government and taxes are the foundation for a country's government to create more infrastructure and progress.

[peterpanda]

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

There are alternatives if we face any difficulties. Bitcoin is unbeatable and government can't able to ban it as bitcoin is a decentralized coin. We can't locate the transaction and government can notify us not to use it only.

[online73]

I understand why Bitcoin is not banned in the USA, and I understand why it can be banned anywhere, but it is not possible to fully control this process. Until you yourself admit that you have cryptocurrency and don’t hand over your private keys or seed phrases, no one can prove anything. Banning cryptocurrencies is the same as blocking the flow of a stormy river - water will always find its way.

[Sithara007]

I understand why Bitcoin is not banned in the USA, and I understand why it can be banned anywhere, but it is not possible to fully control this process. Until you yourself admit that you have cryptocurrency and don’t hand over your private keys or seed phrases, no one can prove anything. Banning cryptocurrencies is the same as blocking the flow of a stormy river - water will always find its way.

It is impossible to ban cryptocurrency. Because unlike bullion or fiat currency, cryptocurrency is not a physical asset. It is just a bunch of codes that can't be seized by the authorities. As long as you own the private keys, no one else can access your coins. If the government thinks that they can ban cryptocurrency by passing a few laws, then they are mistaken. As a first step, they can get themselves more educated about cryptocurrency.

[Hobo66]

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government  want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

[onecall123]

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government  want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

The ban things over crypto market won't work any more. Recently the cryptocurrency market cap hits record $2 trillion and Bitcoin holds more than half of the whole market cap. It's simple that investors are firmly believes that BTC is a secure investment despite all the Govt ban drama.

[fauzan123]

governments all over the world ban bitcoin and this is not new and bitcoin is increasingly in demand. Big investors have jumped into the world of crypto and they are collecting bitcoin as an asset in the future.

Mostly unstable governments who fear for their fiat currency.

Banning bitcoin tells the world they're vulnerable and weak. It's one of the worst things you can do to your country's economy and status on the global arena.

I'm not scared of bans because in the EU it's already legalized and many countries are trying to invite crypto businesses by lowering taxes.

Questions remain on the effectiveness of the regulations because taming the decentralized, regulation-free blockchain-based virtual currency market will remain a big challenge for any real-world regulator.

[Lorence.xD]

Now many countries shlwing their attractiveness towards bitcoin which is possitive sign for bitcoin and all cryptocurrencies.
Bjg reason due to Bitcoin is banned in more countries are it decentralized system and Government  want to tax every rich peraon according to their money which cannot be achieved when trader trade through bitcoin.

They can do it, some developed countries will do everything they can for people to pay their taxes, yes there are some that slips through the cracks but if the money is right and they really hate that person, they will do everything in their power to make sure that person pays taxes but I digress, the reason that bitcoin is banned might be because of the old belief that it is a medium of exchange in the underground economy which is somewhat but not entirely true.

[Argoo]

Nobody can ban bitcoin and cryptocurrency including the government. My country has banned bitcoin many times, but what the government did was in vain. We keep using bitcoin and continue to trade bitcoin. Some of the biggest crypto exchanges like Binance are not accessible in my country, but we can do it using VPN.

Most states have not yet finally decided on their attitude towards cryptocurrency, and even those that have done so may still change their attitude towards it. Therefore, in the future, everything is still possible. I think that over time, states will regulate the circulation of cryptocurrencies more stringently, but whether there will be an attempt to ban them, this will depend on many factors that are now impossible to predict.
Now the attempts of some individual states to ban the circulation of cryptocurrencies have not been crowned with success. However, if such a decision is made, say, at the G20 level, it will be much more difficult.

[abderrazak belkhir]

United States is the country of freedom...if the government will decide to ban crypto this will be a meaningless decision and im pretty sure this will not happen...americans play a very important rule in crypto and they will not let this happen

[justdimin]

Making it illegal does not ban bitcoin, but would rather show that they are a totalitarian government, albeit an incompetent one, since stopping Bitcoin is much more complicated than winning the drug war.

What are your thoughts?

Nah, don’t say that the government can’t ban cryptocurrency, they can do that anytime they want to do it, the thing that most people are going to do is get angry, even the Elon Musk you mentioned can’t do anything about it except just to be tweeting on Twitter and he wouldn’t tell the government what to do.

I am not saying that the government is going to ban bitcoin, I am just trying to let you know that there is the possibility of them banning it if they want to. But then if you look at it the other way round, if they ban bitcoin it doesn’t still stop people from making use of cryptocurrency, because they are going to continue making use of it and they will do that through p2p, just as what happened in Nigeria where p2p became the next big thing that everyone faced.

[best123]

Banning of cryptocurrency is as old as cryptocurrency itself. Instead of seeing this coming true more influencial people are getting on board coupled with institutions.
I don't see ban coming true, to me cryptocurrency has come to stay.

[GeorgeJohn]

Bitcoin is normal investment someone can adventure into, that's the reason most prominent people in the society likely to go into it currently, so government banning cryptocurrency, whenever I hear such I laughs because I noticed that government can't ban crypto because people in government don't have power over crypto, they can only restrict it movement or popularity in their country not in any other country, restrictions is different from  bad, people misunderstood the point between ban and restrictions, Ban simply means it can never exist again across the continent, while restrictions means eradication for a specific place or a country, which other countries will partake on it with willingness, so the difference is very clear.