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Author Topic: Will bitcoin get banned worldwide?  (Read 858 times)
bitcoinminer91
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September 01, 2019, 08:32:41 PM
 #1

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.

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September 01, 2019, 08:37:44 PM
 #2

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



Well, it's not completely anonymous, it's pseudonymous. I don't think it will ever be banned entirely, and if it were to be it would have happened already.

It's become too large to completely ban IMO

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September 01, 2019, 08:41:37 PM
 #3

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.


Bitcoin is not anonymous, transactions are stored in blockchain which is permanently visible to anyone, remember that. And banning bitcoin worldwide is just a dream, only idiot, incompetent and corrupt government officials would make a bill/law to ban cryptocurrency in their country.

Even its banned on some country people will keep using it because of bitcoin you can spend and do what you want to your money, and that's freedom.

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September 01, 2019, 09:04:44 PM
 #4

So far, studies conducted in the European Union and the United States have shown that bitcoin and other cryptocurrencies do not pose any threat to global financial stability. Therefore, for now, there is no need to fear that the states will unite and make a general decision to ban Bitcoin. But what will happen in the future, no one can predict. Most likely, cryptocurrency will be transformed to the needs of society and taking into account the current situation with regard to counteraction of cryptocurrency by governments.

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September 01, 2019, 09:06:02 PM
 #5

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



How exactly is Bitcoin anonymous? Are you a complete luddite?

It has a public blockchain where the balance of every address is fully visible. What is anonymous about that?

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September 01, 2019, 09:07:43 PM
 #6

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



How exactly is Bitcoin anonymous? Are you a complete luddite?

It has a public blockchain where the balance of every address is fully visible. What is anonymous about that?

To be fair to OP, it's a fair question to ask. In terms of government opposition to something that isn't 100% transparent to them.

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September 01, 2019, 09:08:37 PM
 #7

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



Why should it be get banned worldwide? there are already so many crypto friendly countries in general, so i highly doubt that bitcoin will be ever get banned worldwide.
Bitcoin transactions are not anonymous, you can follow every single transaction transparent on the blockchain. There is a big difference between anonymous and acronymous my friend.  Shocked
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September 01, 2019, 09:41:46 PM
 #8

Why would they ban somethings which can make people to pay more taxes? More money for countries.
I fear the day when multiple countries are going to take Bitcoin down. Bitcoin is already used a lot in criminal activities.
So is the money, I don't see that money is banned because of that.
Bitcoin is decentralized and so the banning won't arise because it can't be monitored easily.
With all these KYC's I am pretty sure it can be monitored. You want to buy something online - all "they" need is to ask you your ID's, when revision comes sellers will have to provide to regulatory organs your identification and then you can say by by to anonymity. You want to do "hand to hand" trade with someone? Guess what, someone will eventually exchange crypto -> fiat, exchange will ask them to identify themselves.  Just give authorities some time to regulate all crypto-related things. I hope that you are aware that authorities can force crypto traders to not anonymously trade with other people and to provide them information about source.

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September 01, 2019, 10:47:20 PM
 #9

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.

bitcoin transactions aren't anonymous. they're just pseudonymous. the blockchain is actually highly transparent. if you're not careful, you can be identified somewhat trivially.

there's only a handful of small countries that have banned bitcoin usage. i doubt the number will grow much higher. most governments seem to realize that bitcoin and cryptocurrency services = valuable economic growth for their countries.

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September 01, 2019, 10:50:44 PM
 #10

I think banning generally won't be possible. Some countries might ban their citizen from using or exchanging it. Bitcoin is decentralized and so the banning won't arise because it can't be monitored easily.

They can't have the full control of bitcoin transactions. Those who are banning don't have the full grasp of what bitcoin or crypto is all about. I seriously doubt bitcoin will be banned worldwide. The actual scenario is the opposite. The adoption is growing and more crypto users are learning the benefits in dealing with cryptocurrencies. So nope, the scenario of OP will not happen.

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September 01, 2019, 10:57:01 PM
 #11

In my opinion if that happens what about the fate of investors around the world surely they are disappointed and the bitcoin will be deleted in my opinion it will not happen because bitcoin is still a lot of benefits and there are still many enthusiasts.
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September 01, 2019, 11:06:14 PM
 #12

Why would they ban it? I mean even if they ban bitcoin people would still use it since despite it not being completely anonymous, there is still no way they can track a user and an address completely that easily. I think they would just let it be there, them just ignoring it until it dies.

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September 01, 2019, 11:07:33 PM
 #13

How is that possible! Is it going to be banned by the world bank or what. It is v going to be very difficult for anyone to ban the use of bitcoin across the globe. At the least, there are still independent countries in the world whose  governments do not oppose the use of bitcoin by the citizenry.
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September 01, 2019, 11:26:43 PM
 #14

Bitcoin has got unique features and growth level compared to different other digital assets/investments. It also got multiple usage which makes it more popular than the common ones. Now itself we can see countries that legalize the usage of bitcoin as well countries that are against the usage of bitcoin. This confirms there is no possibility for a ban worldwide.

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September 01, 2019, 11:39:49 PM
 #15

Maybe ban on some other countries but not in the whole wide world because not all nations have the same Ideology especially those countries who face sanctions from the United States they need to use cryptocurrencies to support their country's currency to somehow support their economy.

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September 01, 2019, 11:41:40 PM
 #16

As have been said my many other people. Bitcoin is not anonymous and the possibility of it to get banned worldwide I not possible. If it could have been easy as such, Bitcoin will not attain this level of global attention

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September 01, 2019, 11:50:27 PM
Last edit: September 02, 2019, 12:02:49 AM by ralle14
 #17

It's possible for all countries to ban Bitcoin but it's less likely for all countries to agree on something because people have different opinions and as malboroza mentioned they could increase the tax on exchanges as a way of discouraging bitcoin payments.

How is that possible! Is it going to be banned by the world bank or what. It is v going to be very difficult for anyone to ban the use of bitcoin across the globe. At the least, there are still independent countries in the world whose  governments do not oppose the use of bitcoin by the citizenry.
If there's a ban it's usually the banks and exchanges they'll remove the biggest source of bitcoin transactions.

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jake zyrus
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September 01, 2019, 11:59:41 PM
 #18

I don't think so since there are still countries who are positive towards cryptocurrency though they don't fully support it, they are also not fully against it. More possibly that if it gets more attention and adoption, some countries would just regulate it but not to the point they'll ban it.

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September 02, 2019, 01:07:32 AM
 #19

I don't think so since there are still countries who are positive towards cryptocurrency though they don't fully support it, they are also not fully against it. More possibly that if it gets more attention and adoption, some countries would just regulate it but not to the point they'll ban it.
They won't ban as they are also seeing good potentials from this industry, some might seen different views as there's a lots of opinions about crypto, government have their own understanding it's between the end users and the government rules about crypto, countries who's not against are mostly seeing the benefits and believes that there's real adoptions that will happen in the future.

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September 02, 2019, 02:08:24 AM
 #20

Bitcoin, the crypto currency, has become huge in popularity over the recent years.

One of the main features i like about bitcoins is its transactions are anonymous. But that makes me wonder if a time will come when it will be banned worlwide. It has started in many countries.



There may still be many countries that prohibit Bitcoin. But I will be able to talk about the development of Bitcoin in my country. In my country, Bitcoin continues to experience good development and the community is still very enthusiastic to make trades. In my country, Bitcoin has not been set up, but it is still accessible and not banned. The government is still doing a deepening of this blockchain system and as long as Bitcoin is not used as a means of payment, it will not be a problem.

We must be sure of Bitcoin's future.

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