Bitcoin can be banned or stopped by governments

[Vampobit]

I don't mean to be rude or anything of course, but I am really curious to know... How can bitcoin be banned ? I mean, in general, let's say that you wanted to ban bitcoin, what would you need to do ?

Basically, you can't ban something that you cannot control. The government nor any private establishments don't have control over Bitcoin. That is what explains why some governments are so afraid and hate Bitcoin.
They can prohibit Bitcoin exchanges and local custodial wallets in an effort to prevent Bitcoin, but still people can transact online using the international platform and store Btc in their cold wallets.

Exactly! that is my point! And taking it one step further, it is also the true reason behind Satoshi's hidden identity. Nobody knows the founder and at the same time, nobody can control it. Bitcoin is simply brilliant!

[Razmirraz]

Indian government (maybe other also)  say that " to ban cryptocurrency we need global help" my question is : can bitcoin be banned if all government will agree to ban bitcoin

Bitcoin and other Cryptocurrency are very often discussed in almost all parts of the country,
Some countries have their own way of dealing with Bitcoin. El Salvador for example, this country has legalized Bitcoin as a means of payment. While the status of Bitcoin in several other countries is only as an investment asset, not as a means of payment.
India is a Sovereign country, they have their own laws, they don't need to get support from other countries or global help to make decisions to ban Cryptocurrency in their country.

The Indian government should be able to think positively, Cryptocurrency can be used as a support for state revenue. Cryptocurrency can be used as commodity assets, Bitcoin and other Cryptocurrency may only be traded legally, not as a means of payment. The Indian government can profit from every transaction that occurs.

[Odusko]

I believe the only way for governments to stop bitcoin would be to ban internet. Since it's not possible, it's also impossible for them to stop bitcoin. There can be bans, regulations, negative propaganda, FUD, censorship, although it's nevery going to be sufficient to completely prevent citizens from using bitcoin. Fortunately for citizens from strict countries, centralization has its limitations, so they can still enjoy their experience dealing with bitcoin on the internet. However, due to the risks involved in doing so when residing a hostile country to bitcoin, it's advised that enthusiasts think about the possibility of moving themselves to a bitcoin-friendly country, so they can live in peace without constant fear and paranoia of retaliations from the state.

Once there is internet then bitcoin transactions can take place, so the internet is the engine room for bitcoin transactions and any country that will want to totally ban Bitcoin will have to disconnect from the internet totally which is somehow impossible so that the best any country can do is to regulate Bitcoin services.
Such services like exchanges and other payment gateway can be regulated but not bitcoin so everyone around the world has the freedom to hold bitcoin without any interference from third-party such as the government or bank.

[dezoel]

Bitcoin can still be banned even if all governments on each country won't join forces. I search the status of BTC in India and I found out that it is legal but it says they are not regulated. This doesn't sound really bad I guess? And it can be normal since Bitcoin is decentralized. Plus, regulating it could kill its decentralized factor but in exchange of it is cyber criminals could be reduced.

Regulations do still have their own benefits. Another interesting fact is that BTC in India is 30% taxable. I think this was high but I wonder how it is possible when it is already given that BTC on their country is not regulated? Hmm but this should be enough reason for them to not ban Bitcoin forever.

[Cyber_Alien]

That is not the case. I don't believe governments in all countries can agree on a ban on Bitcoin. If one country sees it as a problem, others see it as a solution. Individual countries can prohibit their citizens from participating in the Bitcoin network, but this is rarely the case because people will always find a way to participate. Twitter was suspended in my country in 2019 or 2020, I can't remember which year, but people still have access by using a VPN to connect to Twitter. A country's only option for getting rid of Bitcoin is to cut off internet access. If there is no internet access, I don't believe people will be able to participate in Bitcoin, but there is still the option of traveling outside of the country to any country that has legalized or adopted Bitcoin as legal tender, If you so desire.As a result, a country cannot permanently ban Bitcoin.

[jrrsparkles]

Whenever I hear government is banning bitcoin this picture comes to my mind immediately.



And this is the result when someone criticizing a new technology or anything with no knowledge at all and I think we should make this picture viral again with some hastags and make those stupid leaders realize what they are doing.

[Tony116]

Whenever I hear government is banning bitcoin this picture comes to my mind immediately.


And this is the result when someone criticizing a new technology or anything with no knowledge at all and I think we should make this picture viral again with some hastags and make those stupid leaders realize what they are doing.

They are not stupid to ban bitcoin because it is decentralized, and if it becomes widespread, it means their power is at stake, so it is understandable that they are trying to stop bitcoin for a reason. The same way we know that fiat is what controls us, we are seeking ways to be less dependent on them as well. But I believe governments have started to stop wanting to ban bitcoin and instead regulate it, as they won't easily ignore a huge tax from bitcoin investors.

[jrrsparkles]

Whenever I hear government is banning bitcoin this picture comes to my mind immediately.


And this is the result when someone criticizing a new technology or anything with no knowledge at all and I think we should make this picture viral again with some hastags and make those stupid leaders realize what they are doing.

They are not stupid to ban bitcoin because it is decentralized, and if it becomes widespread, it means their power is at stake, so it is understandable that they are trying to stop bitcoin for a reason. The same way we know that fiat is what controls us, we are seeking ways to be less dependent on them as well. But I believe governments have started to stop wanting to ban bitcoin and instead regulate it, as they won't easily ignore a huge tax from bitcoin investors.

Many governments tried to ban bitcoin n number of times for example China atleast banned bitcoin 10 times then only they realised they really can't and implemented lot of restrictions and managed to ban bitcoin mining to some extent.

Still there are list of countries where bitcoin is completely banned that is what the picture represent. Later they realised it's not possible to ban so they're implementing huge tax rates so they can discourage people from involving cryptocurrency assets and trading then which is not going to work forever in ny opinion, if governments keep enforcing unfair tax rates then people will find a way to bypass it legally or illegally.

[Jet Cash]

Bitcoin is a massive store of wealth for the puppet masters, so it will never be banned. A bigger threat comes from their massive holdings. Fortunately we can still trade in Satoshi, even if a Bitcoin has become too valuable.

[cr1776]

Indian government (maybe other also)  say that " to ban cryptocurrency we need global help" my question is : can bitcoin be banned if all government will agree to ban bitcoin

i am something less experience and has bad english so ignore

They can try, but eventually people who don't want to be under the thumb of the control-freak authoritarians around the world (socialist, fascist, communist, whatever the stripe) will just remain in bitcoin and not have to deal with them. 

I would also add that it seems unlikely that "all" governments will agree to ban bitcoin.  Some will see the benefit to not doing so and competition will force others to follow.

Think about the systems or political parties in the countries/states/regions trying to (in some cases repeatedly) ban bitcoin:  China.  New York.  India.  All want to control people and don't trust people to make decisions for themselves. 

Which side of history do people want to be on?  The one advocating for freedom and liberty, or the one advocating for statism, authoritarianism, totalitarianism, and control?

[CryptoBuds]

Whenever I hear government is banning bitcoin this picture comes to my mind immediately.


And this is the result when someone criticizing a new technology or anything with no knowledge at all and I think we should make this picture viral again with some hastags and make those stupid leaders realize what they are doing.

They are not stupid to ban bitcoin because it is decentralized, and if it becomes widespread, it means their power is at stake, so it is understandable that they are trying to stop bitcoin for a reason. The same way we know that fiat is what controls us, we are seeking ways to be less dependent on them as well. But I believe governments have started to stop wanting to ban bitcoin and instead regulate it, as they won't easily ignore a huge tax from bitcoin investors.

Many governments tried to ban bitcoin n number of times for example China atleast banned bitcoin 10 times then only they realised they really can't and implemented lot of restrictions and managed to ban bitcoin mining to some extent.

Still there are list of countries where bitcoin is completely banned that is what the picture represent. Later they realised it's not possible to ban so they're implementing huge tax rates so they can discourage people from involving cryptocurrency assets and trading then which is not going to work forever in ny opinion, if governments keep enforcing unfair tax rates then people will find a way to bypass it legally or illegally.

Currently, the tax rate that governments are applying to people who make money in crypto is quite high, I have seen most of them at 20% or higher. If this continues, it will only backfire and bring them no benefit. Finding a return when investing in bitcoin is not always easy or will always yield high returns, so overtaxing will backfire as investors seek to evade taxes. The government is greedy, or as you say, they are deliberately levying high taxes to get investors to abandon crypto without issuing any ban.

[BITCOIN4X]

Currently, the tax rate that governments are applying to people who make money in crypto is quite high, I have seen most of them at 20% or higher. If this continues, it will only backfire and bring them no benefit. Finding a return when investing in bitcoin is not always easy or will always yield high returns, so overtaxing will backfire as investors seek to evade taxes. The government is greedy, or as you say, they are deliberately levying high taxes to get investors to abandon crypto without issuing any ban.

The plan has been implemented in my country and I have to pay a few percent in taxes when buying and selling on government licensed exchanges. To be honest I sometimes feel angry over the deducted amount because it is deducted per buy/sell transaction, obviously I would say such a tax regulation is a form of greed of the current government.

Governments are not going to ban it mainly because they are aware that there is state revenue expected from investors and traders instead of banning it completely. Not surprisingly, high taxes were a way to get a lot of state revenue without ban it from being traded.

[8rch7]

The plan has been implemented in my country and I have to pay a few percent in taxes when buying and selling on government licensed exchanges. To be honest I sometimes feel angry over the deducted amount because it is deducted per buy/sell transaction, obviously I would say such a tax regulation is a form of greed of the current government.

Governments are not going to ban it mainly because they are aware that there is state revenue expected from investors and traders instead of banning it completely. Not surprisingly, high taxes were a way to get a lot of state revenue without ban it from being traded.

Our countries not implemented about fees deduction only when buying or selling but also have adopted with fee deposit local currency transaction, when making deposit from bank account get deduction about 1% until 2% and we loss assets first time beginning trade in cryptocurrency without entry for investing or trading.

I angry with rule and tax regulation implemented by government without discussing and give positive viewed for user or member when use local exchange market for trading. Need new regulation about cryptocurrency tax not make trader or investor in cryptocurrency faced heavy for paying taxes each time transaction.

[serjent05]

Government can ban Bitcoin but it cannot stop its network from running.  To support that, the government had been hunting and trying to shut down torrent sites and p2p sharing of files because it violates the law that protects artists but the government terribly failed in doing so.  It is almost impossible for a government to stop decentralized services in the internet because people who are involved in this process are scattered everywhere around the globe.

So Bitcoin having a decentralized nature can surely continue to operate despite strong resistance from the certain governments.

[Vaskiy]

Government can ban Bitcoin but it cannot stop its network from running.  To support that, the government had been hunting and trying to shut down torrent sites and p2p sharing of files because it violates the law that protects artists but the government terribly failed in doing so.  It is almost impossible for a government to stop decentralized services in the internet because people who are involved in this process are scattered everywhere around the globe.

So Bitcoin having a decentralized nature can surely continue to operate despite strong resistance from the certain governments.

Being decentralized makes bitcoin network to continue running amidst the opposition from governments and other organizations. Even with the laws government was able to restrict the people from using it. Everywhere there are loop holes and people are well aware about it, and continue using it amidst the legality within the country. So the network can't be controlled or stopped by the government as mentioned above.

[serveria.com]

Theoretically it can be banned worldwide. Practically it cannot.

What does it mean?

Nothing has ever been banned worldwide. In some countries you cannot own weapons, in others you can own machine guns. In some countries you can't drink alcohol outside, in others you can, in some countries you have speed limits for cars, but there are countries where there are no limits on certain roads.

Well, yes and no. If the US would ban Bitcoin that would be a great challenge for Bitcoin. US are notorious for banning entire nations from, say, using dollars for trade. If they'd ban bitcoin that would mean most probably you couldn't cash out (at least Bitcoin > USD) as sanctions would be immediately placed on banks processing these transactions. That would be a real black swan event for BTC.

[Maximo Spohn]

The government can only prohibit the exchange of bitcoins from various countries, and there is no other way. When Bitcoin was low-key before, the government thought it had no threat and did not take any measures. Now Bitcoin is so powerful that the government has no influence on it. They can only try to stop Bitcoin by adding one pointless law after another. On the one hand, the government is resisting Bitcoin, and on the other hand, it is frantically learning blockchain knowledge. "They" are as contradictory as ever.

[CryptoBuds]

Currently, the tax rate that governments are applying to people who make money in crypto is quite high, I have seen most of them at 20% or higher. If this continues, it will only backfire and bring them no benefit. Finding a return when investing in bitcoin is not always easy or will always yield high returns, so overtaxing will backfire as investors seek to evade taxes. The government is greedy, or as you say, they are deliberately levying high taxes to get investors to abandon crypto without issuing any ban.

The plan has been implemented in my country and I have to pay a few percent in taxes when buying and selling on government licensed exchanges. To be honest I sometimes feel angry over the deducted amount because it is deducted per buy/sell transaction, obviously I would say such a tax regulation is a form of greed of the current government.

Governments are not going to ban it mainly because they are aware that there is state revenue expected from investors and traders instead of banning it completely. Not surprisingly, high taxes were a way to get a lot of state revenue without ban it from being traded.

A few percent is acceptable because it's not too big, and in return, you will be protected by the government, unfortunate cases like FTX won't be able to harm you. Personally, I am willing to pay taxes, but I need a fair, moderate tax rate like other professions, not a tax that is too high because paying taxes is the duty of citizens to help the country develop. But in return, we get benefits, not they collect our taxes without responsibility.

[crunck]

The government can only prohibit the exchange of bitcoins from various countries, and there is no other way. When Bitcoin was low-key before, the government thought it had no threat and did not take any measures. Now Bitcoin is so powerful that the government has no influence on it. They can only try to stop Bitcoin by adding one pointless law after another. On the one hand, the government is resisting Bitcoin, and on the other hand, it is frantically learning blockchain knowledge. "They" are as contradictory as ever.

That is not true, they still have an influence on bitcoin, they won't be able to ban bitcoin outright but to restrict it shouldn't be difficult for them. But banning bitcoin today is not in their favor, so instead, they will find a way to impose regulation on it, once there is regulation, bitcoin will be heavily restricted, and no one but us will be disadvantaged.

[Abiky]

If governments could ban Bitcoin, they would have done it by now.

They can still ban it completely through centralized exchanges. By cutting off people's access to BTC with Fiat, it will be much harder for the cryptocurrency to be used at a large scale worldwide. The only solution would be to acquire BTC in person or through a decentralized exchange. But if Bitcoin is declared illegal for mainstream use, then people will think twice before using other methods to buy it with Fiat. They could easily face fines, jail time, or execution (depending on the country).

At least we know that not all countries of the world will turn themselves against Bitcoin. Some will support it, while others will reject it. As long as there's some level of support for BTC, we can be sure it won't go away anytime soon. Who knows what the future holds for the cryptocurrency? Just my thoughts