Will governments ban Bitcoin like they did with Gold?

[Abiky]

Banning gold is easy because you can stop it at the airport, it is visible and physical. You just confiscate it if somebody tries to transport it. Much harder, if not impossible with Bitcoin in my opinion.

That's certainly true, mate. Banning Gold is easy because it exists in physical form. But that's not the case with Bitcoin these days. With nodes distributed across the globe, banning Bitcoin in its entirety may seem to be an impossible task. Governments are already noticing their efforts in trying to destroy Bitcoin are futile. They're forced to either join the game or be left behind in the dust. A Central Bank Digital Currency (CBDC) will give governments the leading edge, as they challenge Bitcoin's existence in the long term. While I don't think Bitcoin will disappear, its usage might be reduced to a minimum. After all, most people will experience the benefits of crypto/Blockchain tech via government-issued currency. Of course, this comes at a cost of centralization. But nobody cares about this as long as convenience/ease-of-use is put on top of everything else. With or without a ban, Bitcoin will thrive as sound money for everyone. Just my thoughts

[22bits]

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.

Pretty hard to ban it unless you are a country like North Korea.  Probably hard to get a VPN there   You could make it difficult to go from fiat to BTC, but don't see any way to do an outright ban.

[Expecto]

Some governments already banned Bitcoin and China is one of them. But these actions won't end Bitcoin. Its news can just affect the price for some time. Then, things can continue like always. And I don't think that all the governments in the world will do this. Because I think that most of them are aware of how much extra power they have with cryptocurrencies.

[dimox]

So that's like banning certain Base58 strings? Or banning the use of certain words? Good luck with that!

If they could ban Bitcoin, I think they would have done it by now. If my government bans my investment on which I've been paying taxes, I expect full compensation for my damages.

yeah, they already taxed us, and its not a little number. and im not sure, government will thinking to give compensation, and they just what make them take a profit.

Some governments already banned Bitcoin and China is one of them. But these actions won't end Bitcoin. Its news can just affect the price for some time. Then, things can continue like always. And I don't think that all the governments in the world will do this. Because I think that most of them are aware of how much extra power they have with cryptocurrencies.

people will think to make the other way to access bitcoin, if it really make them rich. rather than to stop or ban, its more useful take the advantage of cryptocurrency

[Tumanggor]

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.

once Bitcoin is in the heads of 500 million people or more, then the government can't do anything about it
will the government stop the internet which is the only way to turn off daily Bitcoin transactions?

Banned Bitcoin is like catching the wind, it's completely impossible
right now all they can do is watch how the Bitcoin price in the market moves

[Welsh]

Over 10 years is a long time and bitcoin has gone through a lot. If this was possible then we would have died already. So just relax, I think it's impossible to destroy all nodes and hypothetically say they destroyed all live nodes - how would anyone destroy the copies that are stored in individual drives?

They don't have to destroy every node. Of course, there will always be people running nodes, and there will be a sort of rebellion whatever the governments decide to do. However, they don't have to destroy every single node, they just have to make it hard to use the currency legally. That way, you would be risking possible prison sentences if you continue to use Bitcoin. Do I think this will become a reality? No, what I do think will happen is there will be tighter, and tighter regulations on Bitcoin, and the propaganda machine will keep on turning.

At the moment, Bitcoin isn't exactly a threat. Most governments are successfully taxing, and regulating Bitcoin. Bitcoin, isn't becoming the new way of managing your money, so banks aren't that scared. Of course, a lot of us are using Bitcoin that way, but the majority are treating Bitcoin as an investment due to the volatile nature of it.

[shield132]

I hope they learned that ban has no idea. If there is demand, there will always be supply.
Gold was banned but what? Didn't people had gold? There was alcohol banned in America but what? Weren't people drinking alcohol? There are drugs banned but what? Aren't people using them frequently?

And in a digital world, it's very hard to ban anything or have control on things. Simply, why ban bitcoin when you can regulate and tax it? It's a better and wiser option for the government and they are doing this.
And if they want to lessen the number of people who use bitcoin, they'll simply pay influencers a lot of money to do anti bitcoin or crypto propaganda and the highest percentage of people will immediately forget BTC/Crypto.

But to sum up, it simply won't happen!

[Yamifoud]

Of course, something decentralized is very detrimental to the government. As we know the government's financial system is not completely free from corruption. If they adopt this system how can they manipulate the finances they steal? everything will be transparent. And one big thing that stands in the way is that the state will benefit more from doing conventional banking.

They are absolutely corrupt and have greedy souls. They can easily manipulate the market as they are in full control of it but they can't do this for Bitcoin, they just fail. This the reason why they hated Bitcoin and ban this, but that is all they can do. People will find a way...and they can stop Bitcoin from spreading.
I just hope that the government will realize their doings, if they will ask people nicely to pay taxes for their Bitcoin, it can be possible but if they will remain harsh towards us, the more it creates misunderstanding.

[(o)(o)ilikeboobs(o)(o)]

Governments can ban gold but they cannot ban crypto because it exists, moves on blockchain and the internet. That's the second thing the government can't prevent.
One country banned the use of gold and cryptocurrencies as payment because it couldn't control them and was worried it would affect the value of the national currency. For major economies like the US, Europe has different regulations for adopting cryptocurrencies and the share of cryptocurrencies is small compared to their entire economies.

[decodx]

~
But to sum up, it simply won't happen!

The fact is that governments (usually) ignore whatever they don’t understand. The same is true for Bitcoin. It can be viewed as money, but it does not fit into their normal categories.

Bitcoin is creating new countries of its own. As long as governments stay away, Bitcoin will grow.

[Kez1817]

I think if government really could ban bitcoin, they already did it long time ago. But nothing happen because the fact is government doesn't have any single authority to control bitcoin because it is decentralized digital currency. Maybe they can impose some laws and regulation about bitcoin and other digital currency but they can't ban it.

[geegaw]

Governments can ban gold but they cannot ban crypto because it exists, moves on blockchain and the internet. That's the second thing the government can't prevent.
One country banned the use of gold and cryptocurrencies as payment because it couldn't control them and was worried it would affect the value of the national currency. For major economies like the US, Europe has different regulations for adopting cryptocurrencies and the share of cryptocurrencies is small compared to their entire economies.

Maybe you are enhancing the privacy of the internet and the value of the blockchain network while government institutions are the administrators of these areas, they manage the provision and distribution of the online system to users, although there are always privacy rules but in cases of necessity with the government, they have access to those privacy. Gold can be hidden and not found but the internet is too easy to find traces of bitcoin users, they simply ignore the trivial things and make way for some growth

[Weawant]

This is self explanatory. When the time comes and people would choose cryptocurrencies than fiat, the economical status of the country basing it in fiats and traditional finances will be different.

Yes, generally and technically people in the country could have more funds within their digi-wallets. But the numbers that will show on the statistics the government have will decrease as expected.

Well, I don't think government would ban it the same way as gold was banned. It's going to be different than that and more secured soon. Specially people today are more educated than before.

[Rajamuda]

If it produces a lot of positive things from the advantages of bitcoin itself.. bitcoin will certainly get safe points for the government, but if it is the other way around and there are many negative things what happens from bitcoin itself.. maybe bitcoin will not last long and the longer the government will insist on banning it, hopefully it doesn't happen.

[apityeh71]

Governments dont have any access to ban decentralized and cryptograpic technology. In my country, government dont support cryptocurrencies for transaction goods and services, but they only support BTC and altcoins belong to commodities assets that only allow to trade and for the investment, just like Gold and Silver.

[skybot13x]

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.

if based on the agreement of all countries it looks like bitcoin can lose. but if it's only 1 or 2 countries it looks like bitcoin will still win. the most important thing is how the attitude of the countries in the world in responding to bitcoin and the real bitcoin effect.,

Even if 50 countries decide to ban Bitcoin it can still win. It would need almost the entire world to get rid of Bitcoin and even then Bitcoin isn't gone. How are you going to destroy it? The blockchain is out there on millions of computers. Another government could change their mind and boom you can just activate you wallet and there you go. You can't eradicate Bitcoin. You can only try to somehow make it difficult for people to use it, probably you can't even prevent them from getting it when there are decentralized exchanges involved.

[CryptoStar19]

A ban on bitcoin can't be enforced so it won't really destroy bitcoin. It would be the same as a government banning the internet... with this level of investment in bitcoin, no developed country will seriously consider doing so. What we have seen so far in the US indicates that an outright ban has long been out of the question. The SEC just released their plan for 2021 in the US and there is no mention of crypto. So we will likely get regulation down the line but even that not for a while.

[vorenhde]

Now some countries have begun to treat Bitcoin as legal currency, which shows that Bitcoin has been recognized by more and more people. Existence is reasonable, and the prohibition by a few governments cannot be comprehensive.

[skybot13x]

Now some countries have begun to treat Bitcoin as legal currency, which shows that Bitcoin has been recognized by more and more people. Existence is reasonable, and the prohibition by a few governments cannot be comprehensive.

That's only part of the story to be honest. Even though it is cool to see that some countries are making the first step towards acknowledging Bitcoin as legal tender, you have to take into account that those are also countries which suffer from some form of hyperinflation anyway.

[milewilda]

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.

if based on the agreement of all countries it looks like bitcoin can lose. but if it's only 1 or 2 countries it looks like bitcoin will still win. the most important thing is how the attitude of the countries in the world in responding to bitcoin and the real bitcoin effect.,

Even if 50 countries decide to ban Bitcoin it can still win. It would need almost the entire world to get rid of Bitcoin and even then Bitcoin isn't gone. How are you going to destroy it? The blockchain is out there on millions of computers. Another government could change their mind and boom you can just activate you wallet and there you go. You can't eradicate Bitcoin. You can only try to somehow make it difficult for people to use it, probably you can't even prevent them from getting it when there are decentralized exchanges involved.

Doesnt really need to win as if this thing had never intent to replace fiat on the first place but rather been focusing on the new payment system on where centralization doesnt exist.We know that Bitcoin can never be accepted on every corners in the world but if we do try to look at on how far we had able to reach out then its really hard to ignore that we did really make out some progress which is totally great.They can make out some prohibitions or
bans and we had seen on how Bitcoin did respond on that and on the community which are engage into that.