Will governments ban Bitcoin like they did with Gold?

[Dewi Aries]

Many people have been talking about a full government ban towards Bitcoin. Some said that Bitcoin could be banned the same way Gold was banned a couple of years ago. This is to prevent people from using Bitcoin and other cryptocurrencies on top of Fiat. After all, governments want to control people's money. Something that's decentralized and outside the reach of the government, should be banned from the face of the Earth (according to governments' mindset).

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

I think i can't be happen anymore because bitcoin itself can't replace fiat. There are several reason like for example, need much fee when we send bitcoin to another person. Not like fiat that maybe we can give or transfer directly with low or maybe no fee at all. So with only that 1 reason, bitcoin already can't be used as payment so i think don't need to worry if bitcoin can get banned because government afraid it can replace fiat.

[capcaypro]

I think it will be too late to ban now, because we already know for sure the positive impact generated by bitcoin for both per capita (individual) income and for unions such as large companies and investors and that indirectly increases government revenue in finances. just a small example in taxes, because the greater the income of investors / companies, the greater the tax borne.
even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.

[Ebede]

If they decide to ban the cryptocurrency it'll just come back stronger as the alternatives would be worse. A strong community would come back in its place to support this currency in all circumstances. That's why the probability of legalization is much more likely than ban. Its far better to adopt the future than fearing it.

I believe that know body can ban cryptocurrencies, from what I observed, cryptocurrency is not gold their is much different between gold and crypto, because people investing with bitcoin are much than people who invest with gold, normally gold was threading before but since existence of cryptocurrency gold now withdraw excessively in the world market, and currently people value cryptocurrency much than any investment.

[death69]

If they decide to ban the cryptocurrency it'll just come back stronger as the alternatives would be worse. A strong community would come back in its place to support this currency in all circumstances. That's why the probability of legalization is much more likely than ban. Its far better to adopt the future than fearing it.

I believe that know body can ban cryptocurrencies, from what I observed, cryptocurrency is not gold their is much different between gold and crypto, because people investing with bitcoin are much than people who invest with gold, normally gold was threading before but since existence of cryptocurrency gold now withdraw excessively in the world market, and currently people value cryptocurrency much than any investment.

Indeed. Crypto is never the same as gold. It holds a stronger will and a better innate, even though it is digital. You are also correct to say that people cease to invest excessively in gold and transfer their money to bitcoin. They see the future of bitcoin. They believe that bitcoin can meliorate the world and form a new perception of the society

But the main objective is still profit. Bitcoin undoubtedly brings immense income

[geegaw]

I think it will be too late to ban now, because we already know for sure the positive impact generated by bitcoin for both per capita (individual) income and for unions such as large companies and investors and that indirectly increases government revenue in finances. just a small example in taxes, because the greater the income of investors / companies, the greater the tax borne.
even if the government prohibits bitcoin, it will have a very big impact on both investors and companies that do business in cryptocurency and on the government itself. because I believe when bitcoin is banned the income will be much reduced.
besides that people have cunning intellect and in the world of crypto it can be done underground (secretly) even though it will be considered illegal as long as it earns a large income, surely many people will do it.

Bitcoin's relentless efforts have linked so many large investors and corporations gathered here and with such a large community size, worldwide coverage, a little blockage is enough to bear a lot of opposition from this community, part of the government's taxes will not stop being affected. But governments never have a common voice, mostly just figuring out what would be in their nation's best interests, only a few countries are linked together, but in general, they just leave bitcoin to develop without blocking, a few such small efforts in exchange for the negativity of the result are not wise choices

[Oneandpure]

Where are country really banned gold? I think almost country gold is legal investment and not banned or illegal property, but for bitcoin still an illegal and many countries not support for bitcoin become legal currency transaction or investment assets, but you was wrong with gold have been illegal or banned in any country. Just few country support bitcoin but only legal as investment assets and still not any space for bitcoin to be legal currency transaction payment.

[The Cryptovator]

To be honest I can't remember when the US banned Gold or I didn't notice it. But do you think is it possible to ban Bitcoin like Gold? I don't think so. Because Gold is a physical asset that is preventable to enter a country or use it. But Bitcoin is quite different, it's a virtual currency and not preventable any way. A government would just announce that Bitcoin is a ban, but really they couldn't prevent citizens from using Bitcoin. There are no physical coins and the government wouldn't detect who is using Bitcoin if you don't use any centralized wallet or exchange. So I think it's too late to ban Bitcoin. Banning Bitcoin would affect Bitcoin price for some time. But couldn't prevent it while using.

[taufik123]

Bitcoin is the most valuable digital asset today. Because the price continues to rise and is able to reach the highest price in history, of course some world governments are worried about the development of bitcoin. some countries began to ban the use of bitcoin in their countries but some also legalized the use of bitcoin because of the technology that is needed for more modern payments.

The regulations regarding the use of bitcoin are regulated by the government in such a way. in my country Indonesia bitcoin is regulated only as a commodity trading and is not allowed to be used as a legitimate transaction tool like traditional money.

Bitcoin is a future payment technology that must continue to be developed.

[BIT-BENDER]

What do you think? Will governments (especially the US government) ban Bitcoin like they did with Gold? Or is it too late to do something about it? Will Bitcoin survive if all governments unanimously agree to ban its usage worldwide? Your input will be greatly appreciated. Thank you very much.

Are you a US citizen? And if yes why centralize the ban, why not make it known where the ban you think that it can happen, US isn't the whole world you know, but even at that I don't think with the adoption greater than it was in past, that the ban on bitcoin would materialize, I don't support the saying that the wealthy once -elon musk- for example gave bitcoin all the boost it has had recently but I think the wealth game would play out in Bitcoin favour bin the US.

[peterpanda]

That's why it is not possible to control as bitcoin is a decentralized crypto. People are free to use bitcoin as their sweet well. We have to move forward with digital decentralized currency. As bitcoin is decentralized currency, it is not possible for governments to ban it.

[acdc]

I think they won't ban Bitcoin. In my country bitcoin is and cryptocurrency is seen as an asset, people can freely buy and sell cryptocurrencies as long as they pay taxes in full.

[ChiBitCTy]

The US took away peoples gold bullion and coins back in the 1930's do to the World Wars, it wasn't because they were using it instead of fiat currency.  If they ever tried to do this again today, it would absolutely never happen.  The fact that they would have no shot at taking our gold would be they have even less of a chance being able to ban bitcoin..even if they do, that's what we have Over the Counter for and decentralized exchanges.

[tabas]

Banning it will lose them billions if they're going to consider their citizens that have been transacting and transferring funds through bitcoin. They're losing lots of money if they're about to that. But even if they do, transactions can still continue and many wouldn't care if there's a ban just as what the other countries did, there are still crypto people that are continuing.

Banning in a certain country would be implemented once there's a conflict of interest. Some of the law makers would decide this kind of judgement toward bitcoin, and no one can ban Bitcoin because it continues to run without control of anybody. Government is intimidated with what bitcoin shows to the world, specially todays time that price soars unexpectedly. But to those developing countries, I think it wouldn't be be because they're now shifting to cashless payment using digital currency.

Yes, they can't ban Bitcoin itself because it will just keep going through miners and transactions that are scattered in every part of the world.
But the thing about the government banning bitcoin is those transactions that would come to their citizens and prohibiting them to trade or doing any transaction related to it while they're residing in that country that has banned bitcoin.

[J1mb0]

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

[dimonstration]

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

Some countries already getting taxes from cryptocurrencies its just a matter of time that Bitcointalk or any cryptocurrency will be adopted and useful to many banning it is inappropriate now knowing that before there are many countries who bans it yet still uses them. Just a good Laws and implementation can make crypto much more useful in a country than their fiat.

[ene1980]

A government would just announce that Bitcoin is a ban, but really they couldn't prevent citizens from using Bitcoin. There are no physical coins and the government wouldn't detect who is using Bitcoin if you don't use any centralized wallet or exchange. So I think it's too late to ban Bitcoin. Banning Bitcoin would affect Bitcoin price for some time. But couldn't prevent it while using.

Even i am not sure when gold was banned but if a government wants to ban bitcoin, they cannot ban the bitcoin transactions but they can put an end to the exchanges functioning in that country and that can create enough problems for a while until the users find an alternative and if the market becomes legal then all these exchanges will be forced to comply by it and we are yet to know whether these exchanges will allow if a country ask them to ban users from a certain region to trade on their platform.

[J1mb0]

I think that governments around the world will not ban Bitcoin and cryptocurrencies. If a government bans cryptocurrencies, people can still exchange at an exchange in another country.
Ideally they should come up with policies to regulate cryptocurrency and collect taxes from it, this is probably the best choice available today.

Some countries already getting taxes from cryptocurrencies its just a matter of time that Bitcointalk or any cryptocurrency will be adopted and useful to many banning it is inappropriate now knowing that before there are many countries who bans it yet still uses them. Just a good Laws and implementation can make crypto much more useful in a country than their fiat.

The majority of countries in the world only prohibit the use of cryptocurrency as a currency, they do not prohibit people from using bitcoin as an asset.
This is probably a wise decision, with such policies they still keep their finances safe while still earning huge tax amounts.

[Sophiya]

I, like many people here, are of the opinion that this is impossible.  A lot of money is already involved in cryptocurrency, and banning Bitcoin is not beneficial for the government itself.  Why spit in the well from which you drink

[xZork]

Governments will not ban cryptocurrency but it is still too far away before they accept it.
Although there are many governments around the world that have a better outlook on bitcoin and cryptocurrencies, they are still quite wary of it.
This is perfectly understandable, governments do not like a currency they have no control over. So I think it will be a long time before governments adopt cryptocurrency as a currency.

[Hypnosis00]

How that they feel have no freedom?

If they are doing this, then they are lying about saying that they will help the people. That will be the biggest mistake that the government had made.
But that was illusional, I know that they can't afford to do it unless if they can afford to lose their integrity just for money, just for promoting fiat instead of accepting the new system which I think is more usable this time.