Will governments ban Bitcoin like they did with Gold?

[CryptopreneurBrainboss]

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,

While US isn't the whole world, let's not forget they're a world power and what ever they do has a major impact on that section of the global economy. If the US government was to successfully ban bitcoin (which is quite impossible) the rest of the whole would follow suit especially those nation that has a strong relationship with the US government or rely on them for aid).

US has to be used as the references point because among all current government if there was a government we should be more concerned about is the Biden government. He's anti-bitcoin and sooner or later this will begin to reveal itself.

[Zemomtum]

The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.

[Shasha80]

I believe it is too late if the government wants to ban Bitcoin, because now Bitcoin is trusted by many institutions. This means that it is very difficult
to stop people from using Bitcoin, even in some countries that have banned Bitcoin, people can still use Bitcoin. Because as long as there is
an internet network, everyone can use Bitcoin. So it is useless in my opinion if the government intends to ban Bitcoin.

[Cling18]

As for me, it will be hard for the government to ban Bitcoin since it's beneficial to most users as well as the government through the tax that they're taking. It will be hard for the government to control Bitcoin because of its decentralization. More people wouldn't agree to ban it because it's giving us lots of opportunities as well.

[cabron]

As for me, it will be hard for the government to ban Bitcoin since it's beneficial to most users as well as the government through the tax that they're taking. It will be hard for the government to control Bitcoin because of its decentralization. More people wouldn't agree to ban it because it's giving us lots of opportunities as well.

A slight possibility actually if they could to make it only for the underground. Paypal, Visa, and Mastercard had integrated BTC on their platform because they too are afraid of losing relevance to the card users because of CBDC. The cash could totally be eradicated by the government when their CBDC is up and running as well and we have seen this materialized in China already.

In the stock market, the gold has risen gradually which if this will continue the people who had no gold could turn poorer. But yes even if they ban BTC, it will exist no matter what.

[decodx]

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,

While US isn't the whole world, let's not forget they're a world power and what ever they do has a major impact on that section of the global economy. If the US government was to successfully ban bitcoin (which is quite impossible) the rest of the whole would follow suit especially those nation that has a strong relationship with the US government or rely on them for aid).

US has to be used as the references point because among all current government if there was a government we should be more concerned about is the Biden government. He's anti-bitcoin and sooner or later this will begin to reveal itself.

Personally, I am very disappointed with the government's approach to bitcoin; they need to get with the program or face serious consequences. Perhaps it is the regulation that causes the problem, but in any case the simple fact is that US is falling behind in this crypto market and the only way forward is to innovate and be the leader.
I believe that the US is far behind other countries in this market and that American businesses have the right to adopt a crypto policy, formulate their approach and help regulate this exciting new market.

[macson]

The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.

if the government "shuts down the internet" how will they track our movements "lol"

Bitcoin is something that can no longer be managed and even eliminated.  Bitcoin has officially become a decentralized asset since Satoshi officially made it public.  only God can "shut down" Bitcoin.

[Ibrahim60]

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.

Bitcoin is virtual coin. This is so much potential coin in the present time. For this reason day by day its popularity going to increase. Because of its decentralization, no government can control its. No one can trace it transaction history. For this reason money laundering happening in all over the world. So many criminal use bitcoin for making crime. By thinking all of this government can ban bitcoin. But i think, Not all governments in the world can ban bitcoin together. Because the opinions and thoughts of people are different. Not everyones opinion will fit perfectly in a time. But somehow all the government will ban bitcoin together then Bitcoin's survival will be difficult.

[Viscore]

The only possibility to that is for the Government to shut down the internet first, otherwise, it will not be possible on this present planet.

if the government "shuts down the internet" how will they track our movements "lol"

Bitcoin is something that can no longer be managed and even eliminated.  Bitcoin has officially become a decentralized asset since Satoshi officially made it public.  only God can "shut down" Bitcoin.

We are in the computer era and that it needs internet to become productive. And from that, the government surely can't afford to stop it as they are using this also. This means that no matter how strict they are, no matter if they ban Bitcoin, people will still look for an opportunity which they can use and invest Bitcoin.

God isn't involved here, only the people who are a part of its development. Maybe the shutdown will happen if Bitcoin has not used at all. But as we can see, it became valuable and this will even more valuable in the future where more people are using this one.

[Vishnu.Reang]

In the past, there were instances where the governments tried to ban gold. Did that worked? Definitely no. The same will happen this time, and the results will be even more stark because of the digital nature of the cryptocurrency. In many of the developed countries, the authorities have realized that it is not possible to ban cryptocurrency. So they have started regulating it. However, there is no shortage of idiots in developing nations and here in India the government still want to make possession of cryptocurrency a criminal offense.

[aysg76]

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.

It's too late for government to take that step of banning Bitcoin because now it has become a major financial assest globally which is opted by major institutions and investors preference have shifted towards it.They will never go against the general market as it could affect their political status and moreover the government's are also benefitting from btc as US govt. holds more than 80000 Bitcoin at this time seized from Silk road crime.And if you look at statement of former SEC chairmain Hester Pierce or so called "crypto mom" has said US will not take foolish step of banning Bitcoin and it is like shutting down the internet completely and it's not possible to do such things as it can have great impact on economy of the country and same goes for all the centeral authorities around the globe.So we need not to worry about it as we have came across lot of tough times but now Bitcoin is name that needs no introduction and will be accepted by all soon.

[bryant.coleman]

If they want to ban, then the ban has to come from some global agency such as the United Nations. Since Bitcoin is a digital currency and it doesn't exist in the physical form, regionalized ban will never work. The users will simply move their assets from the country where it is banned, to another country where it is perfectly legal. The only impact is going to be a decrease in tax revenue for the country which banned it. If this was not the case, then Bitcoin would have been banned by most of the governments ages ago.

[Alert31]

If governments want to ban bitcoin, why not ban at the beginning when it was first created? Bitcoin now is more than 10 years of existence and I think it was rooted already, where government can't easily remove it. Well, let's wait and see what government can do if ever.

[tatalin]

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.

It is possible that they will ban Bitcoin if they want to control the price - that's what I think the reason why. Today Gold are now legally accepted and can be freely traded. If one day the government banned Bitcoin, I believe that they will eventually make Bitcoin legal so as to what happened with Gold.

[kryptqnick]

Similarly to a few other people in this thread, I don't understand what the op means by gold being banned. People buy things which are made from gold all the time, and they keep jewelry as a form of an investment sometimes. I haven't heard of gold being illegal, but to be sure I've just checked that it's indeed perfectly legal to buy and possess jewelry as well as gold bars in my country. As for some context from other countries, I see that there was a ban for US citizens on owning or trading gold from 1933 till 1975 due to Executive Order 6102, but I guess it's currently legal in the US as well. And to answer the question regarding Bitcoin, I think that most democratic governments won't ban Bitcoin because it could cause public unrest, but I think that over time more and more countries will regulate cryptos, setting some requirements and restrictions.

[blackened515]

The government has nothing to do with bitcoin and her usage, as said above, it's over 10 years now and we are still arguing about government ban on cryptocurrency, if they do, it doesn't affect the users and can't affect in anyway since everything is decentralized.

I don't understand what the op means by gold being banned. People buy things which are made from gold all the time, and they keep jewelry as a form of an investment sometimes. I haven't heard of gold being illegal,

Yes, I was also wondering if Gold has been ban in the US before, I haven't heard such news because it's the backbone of a country's economy.,so why put a ban sentence on it, imagine government putting ban on crude oil, that's ridiculous.

[bobyhodob]

It is possible that the US government will continue to ban bitcoin because it cannot be controlled by them directly so they don't want to formalize it as a payment

[Oneandpure]

It is possible that the US government will continue to ban bitcoin because it cannot be controlled by them directly so they don't want to formalize it as a payment

US government still going on not legal using bitcoin as currency transaction payment because they still not believe with cryptocurrency, but other side they don't get competitor for USDT can replace by bitcoin or altcoin. Many time US government make bad news with cryptocurrency but still not give any bad for bitcoin, so far keep bitcoin and altcoin on the top price but waiting with many responds how bitcoin become legal currency transaction around the world.

[paxmao]

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.

The ownership of gold was banned by Roosevelt in 1934

 

Roosevelt justified Gold Reserve Act 1934 by saying that "Since there was not enough gold to pay all holders of gold obligations, ... the Government should in the interest of justice allow none to be paid in gold."[5]

https://en.wikipedia.org/wiki/Gold_Reserve_Act#:~:text=The%20passage%20of%20the%20Gold,restricted%20gold%20ownership%20and%20trade.

[Alucard1]

The government already tried many times to stop and ban bitcoin but they always failed on doing it because bitcoin cannot be stopped they will just waiting their time for doing it. The price of bitcoin as of this day is high which makes it more interesting for many people and many counties, some countries already exploring the world of cryptocurrency especially bitcoin, and mass adoption is already happening little by little no one can stop bitcoin unless the internet connection will shutdown worldwide and will never back again.