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Author Topic: Will bitcoin get banned worldwide?  (Read 857 times)
witcher_sense
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September 12, 2019, 06:49:46 AM
 #121

Anonymity is not a problem to be feared. If that becomes a reason for illegal actions such as money laundering, terrorist activities, drug trafficking, black markets, etc. it depends on the user. In fact, BTC and other cryptocurrency provide many benefits related to the progress of human civilization related to buying and selling transactions. Until now, many countries have legalized cryptocurrency transactions even with certain limitations.

Anonymity has always existed and will exist; people have the right not to tell banks what exactly they spend money on. This is not necessarily something forbidden, illegal or immoral, just ordinary shopping for ordinary people. There has always been cash for this purpose, a fairly anonymous payment method. Cryptocurrencies should not be prohibited worldwide, because they have a similar purpose as well as fiat currencies. A new era is approaching, progress is moving forward, one kind of anonymity is being replaced by another, more technological and convenient. Bitcoin and other cryptocurrencies must change people's minds sooner or later, governments of all countries will accept Internet money.
 


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September 12, 2019, 07:28:24 AM
 #122

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.


Transactions are more anonymous if you use Monero, so no need to blame only bitcoin for it, money laundering and etc. Also you may know Linux is a great thing along with VPN and Tor's combination for good anonimity, will they ban all of this too? Oh, they want to fix transaction availability? How will they ban it? Don't they think that even if they succeed there will be even better and harder way which will be far worse for governments to fix? I think it will be better if they won't repeat over and over that bitcoin is used for money laundering and this coin is danger for us. They are the real dangers which needs to be fixed, not bitcoin and freedom.

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September 12, 2019, 09:25:53 AM
 #123

I think it will not be banned, even many countries have made Bitcoin legal, even now Bitcoin is much in demand in the technology era now, many investors and big companies have made bitcoin as a currency in the digital world As a necessity in online business. And there are some countries that already have physical coin Bitcoin.
Big companies just follow the demand of the people, they are seeing that bitcoin has a great potential to be a payment system, therefore they are adopting on it to get the market of the people who are bitcoin enthusiast, sooner or later, the adoption will grow and since they adopted early, they will also reap the benefits in the long run.

Like us ordinary people, we are investing because of the limited supply of bitcoin and we saw its potential, so based on supply and demand, its expected that BTC's value will rise as the demand increases.

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September 12, 2019, 09:40:55 AM
 #124

My thought is its not going to banned but take under control.because ban bitcoin is not possible but if its under control, it cant be a threat so no need to ban.

Then that would not happen too.

There are a lot of people that are wanting to use Bitcoin, not only Bitcoin but other cryptocurrencies too because they want to take advantage of the decentralization of it.

If that would be under control, I don't think that would be good for it. And what is the purpose of the decentralization if the government control it?

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September 12, 2019, 09:48:08 AM
 #125

If someone turns off the Internet around the world, then Yes, Bitcoin can be banned) seriously, I do not think that now anyone is able to ban Bitcoin.
It is not banning Bitcoin but it is stopping the entire crypto usage. But do it looks possible? I believe it won't happen and Bitcoin growth looks great and unstoppable, and even the other country had banned Bitcoin but still, a lot of countries are still in and make used for this. It eventually helps to wake them up and to recognize what Bitcoin can do. With this new technology, it helps us to become more productive the same way that simplify our lives.

Can't turn off the internet now really. Could shut down parts of it, and it would return as soon as people find ways around. Satellite. Shortwave radio, even direct cable. People rebuild quicker than we think.

Bitcoin even easier to restore if the main internet infrastructure is still intact. I do foresee some big or major outage one day, but only in parts of the world and only again because of internet.

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September 12, 2019, 11:57:09 AM
 #126

Because of pseudonymous so goverment implement regulations to bitcoin and crypto. Bitcoin is decentralized system it wont easy to ban bitcoin, let say one country sucessfull banned bitcoin but there's no warranty that existing people not trade or mine bitcoin and also there are so many country still not success. Decentralization and pseudonymous completely make developer, user, and community spread over the world and work together

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September 12, 2019, 12:47:04 PM
Last edit: September 13, 2019, 12:45:33 PM by conected
 #127

Because of pseudonymous so goverment implement regulations to bitcoin and crypto. Bitcoin is decentralized system it wont easy to ban bitcoin, let say one country sucessfull banned bitcoin but there's no warranty that existing people not trade or mine bitcoin and also there are so many country still not success. Decentralization and pseudonymous completely make developer, user, and community spread over the world and work together
- In short, banning bitcoin right now will be a joke for many people because in fact, the government cannot ban bitcoin forever when the system is too superior and not in their minds, want to end this system, the only thing possible is to turn off the internet globally, not allow online access, but this story will probably be a terrible thing when society is going through the internet to grow, the connected network is too dense. The damage to a meaningless fight is in excess of what is needed, the government will not do such things, so banning the globe is impossible.


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September 12, 2019, 08:15:33 PM
 #128

Bitcoin transactions are not anonymous because the transaction can be seen in a blockchain but you can't just see who are the owners of the addresses.

There are some countries that banned cryptocurrency in their country but there are still ways to have access into it. I don't see Bitcoin to be banned worldwide because there are some countries that already accepted it and in the succeeding years, I know that more countries and establishments will accept it too.
If they can't see who the owners are, then they will not be able to tax the cryptocurrency then, and this is what I feel is the major problem of government with bitcoin, but they fail to realize that even in taxing fiat has not been easy, they don’t get to even tax everyone easily.

Government are supposed to look beyond the tax benefit of cryptocurrency but the main economy benefit, cryptocurrency is such a system that generates huge amount of money that I am sure that the operator will generally pay his tax when due, and moreover, people will still one way change the currency to fiat which will definitely pass through their bank, and from there, they can place their tax on the bank account owner, I think these are the chances they still see that has made them not to ban cryptocurrency.



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September 12, 2019, 10:36:27 PM
 #129

Because of pseudonymous so goverment implement regulations to bitcoin and crypto. Bitcoin is decentralized system it wont easy to ban bitcoin, let say one country sucessfull banned bitcoin but there's no warranty that existing people not trade or mine bitcoin and also there are so many country still not success. Decentralization and pseudonymous completely make developer, user, and community spread over the world and work together
- In short, banning bitcoin right now will be a joke for many people because in fact, the government cannot ban bitcoin forever when the system is too superior and not in their minds, want to end this system, the only thing possible is to turn off the internet globally, not allow online access, but this story will probably be a terrible thing when society is going through the internet to grow, the connected network is too dense. The damage to a meaningless war is probably too great for the whole world, the government will not do such things, so banning the globe is impossible.
Yes, but governments can ban exchange offices on their territory.Agree it is very difficult to track transactions with bitcoin and it is very easy to track the movement of money on MasterCard cards.Naturally, they will not be able to close or destroy Bitcoin, but they will create difficulties for cryptocurrency holders.

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September 12, 2019, 10:40:38 PM
 #130

Banning Bitcoin entirely in the world is impossible because it will depend on each country. Let the government do their job since Satoshi already do his job to make a currency that will give everyone the freedom to use it without the government controlling your hard-earned money.
It will not happen as there are a lot of countries who benefit on bitcoin, especially the poor countries, and we have to remember as well that troubled countries due to high inflation can use bitcoin to save their money, and these people will be fighting for their right to use bitcoin.

The technology that bitcoin brings which is the blockchain is revolutionary, so it's not good to ban it when it's the father of blockchain.
Government should just find a way to regulate it and satisfy people, that way they can also make money from taxes.
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September 13, 2019, 10:33:19 AM
 #131

many countries? on the contrary, I believe bitcoin and blockchain technology has been getting more attention and adopton of late. No country can boldly tell you it likes bitcoin as it is not controlled by the government, but that's what makes bitcoin the greatest and most decentralized accepted currency out there

Attention can be positive or negative. Bitcoin caught the attention of the Indian government during the demonetization exercise of 2016, as a lot of people with unaccounted funds rushed to purchase crypto. As a result of that, they entrusted the finance secretary (Subhash Chandra Garg) to come up with a policy to deal with a cryptocurrencies. He recommended jailing anyone holding cryptocurrency by up to 10 years, but luckily he was fired by the government after locking horns with the RSS.

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September 16, 2019, 02:05:31 AM
 #132

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.



Yeah right like in France and Portugal (Not)
 News on France
https://bitcoinexchangeguide.com/france-will-not-tax-crypto-to-crypto-trades-but-will-tax-gains-if-converted-to-cash-fiat/
News on Portugal
https://coingeek.com/portugal-re-asserts-no-crypto-taxes-here/

They both decided to allow full trading of any coin to coin with no taxes or reporting.

Pretty much the exact opposite of what  you are asking.


Knowing humanity  I can see a spilt and some nations  will go all out to protect while others will go all out to attack it.

What I can not see is all nations agreeing to ban it.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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September 16, 2019, 05:10:13 PM
 #133

I don't think bitcoin will be banned worldwide. Because no one can deny the blockchain technology and its application, banning bitcoin is no different than banning human progress, if bitcoin is indeed banned. I think most of the time is due to organizations that have lost profits due to bitcoin such as banks

Banning Bitcoin across the country, I think it's useless. Many countries are already aware of this Bitcoin, they are also starting to make Bitcoin legitimate. They try to organize people who have income from Bitcoin, through income tax. But Bitcoin is very unique because it can be used for online payment transactions. So, with this industry, can also reduce the unemployment rate. So for me, it's unlikely that Bitcoin will be banned all over the country, perhaps only a few countries prohibit Bitcoin.

I am not sure if Bitcoin can really reduce unemployment rate. From such small examples like bounties here in the forum, it could let them earn for a while but then it just doesn't seem to stabilize their lives because probably those bounties run for a limited time only unless they were really working full-time for the whole project itself.
Trading seems to be their another way of earning, some claimed that they even quit their jobs for this.

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September 17, 2019, 08:05:20 PM
 #134

Bitcoin transactions are not anonymous because the transaction can be seen in a blockchain but you can't just see who are the owners of the addresses.

There are some countries that banned cryptocurrency in their country but there are still ways to have access into it. I don't see Bitcoin to be banned worldwide because there are some countries that already accepted it and in the succeeding years, I know that more countries and establishments will accept it too.
If they can't see who the owners are, then they will not be able to tax the cryptocurrency then, and this is what I feel is the major problem of government with bitcoin, but they fail to realize that even in taxing fiat has not been easy, they don’t get to even tax everyone easily.

Government are supposed to look beyond the tax benefit of cryptocurrency but the main economy benefit, cryptocurrency is such a system that generates huge amount of money that I am sure that the operator will generally pay his tax when due, and moreover, people will still one way change the currency to fiat which will definitely pass through their bank, and from there, they can place their tax on the bank account owner, I think these are the chances they still see that has made them not to ban cryptocurrency.
Even if there are people out there that are avoiding paying their taxes in fiat the governments can always use the inflation tax to tax the wealth of the people since they are free to print as much money as they want, but in the case of bitcoin they cannot do this because as we know there is a limit to the amount of coins that are going to exist, this is very problematic for them especially in this time and age where they have problems to find the necessary funds to run the government, if cryptocurrencies become widely adopted it is to be expected that their tax revenue will go down.



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September 17, 2019, 09:16:06 PM
 #135

I very much doubt it  If big social media companies like Facebook think there is a future in Cryptocoins then they also think that they are here to stay

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September 18, 2019, 03:56:25 AM
Last edit: September 18, 2019, 04:20:42 AM by shushu9977
 #136

If few countries have problem with Bitcoin, there is no problem. Because, there are over a total of 200 countries in the world. It is the future digital, safe and secure crypto-currency. All countries should except Bitcoin in future for it’s unique system. 


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September 18, 2019, 04:47:28 AM
 #137

In the world there are many different states with their own characteristics and legislation. I think Bitcoin cannot be completely banned. The countries with the most developed economies mainly recognize Bitcoin and allow citizens to use it to one degree or another.



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September 18, 2019, 11:02:33 AM
 #138

Lets say bitcoin get banned worldwide successfully, how will this stop anyone from using bitcoin since the internet will always be up and running? Bitcoin is digital money that bans can't  really have any negative impact on

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September 18, 2019, 03:03:41 PM
 #139

This is incredible how many people here, in bitcoin-talk forum are clueless . Every few days I see a post where someone thinks that BTC transactions are anonymous - NO, they ARE NOT. They are very easily traced, If bitcoin would be " banned" traceability would decrease because of on hand deal which would emerge as a result of a ban.

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September 18, 2019, 03:42:25 PM
 #140

This is incredible how many people here, in bitcoin-talk forum are clueless . Every few days I see a post where someone thinks that BTC transactions are anonymous - NO, they ARE NOT. They are very easily traced, If bitcoin would be " banned" traceability would decrease because of on hand deal which would emerge as a result of a ban.
I also see no reason to ban Bitcoin.  Today, all governments are more likely to gang themselves up against a project like Libra, rather than stick sticks in Bitcoin wheels.  Today, there is already very often talk about the legalization of Bitcoin, which is quite beneficial for any state, since all the finances of the cryptocurrency market will be controlled and taxes will be paid by users.  In addition, control of the cryptocurrency will by no means harm the fiat currencies.

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