[dtube] What if the Government Outlaws Cryptocurrencies?

in #cryptocurrency4 years ago (edited)

In this video, I'll be discussing what would happen in the hypothetical scenario that the Government shows hostility and tries to outlaw cryptocurrencies like Bitcoin and Ethereum.

DISCLAIMER: This is NOT professional advice. I am just offering my opinion. I am not responsible for any investment decisions that you choose to make.

***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!

Original date of upload:June 19th 2017

▶️ DTube

No, it's like banning internet. No one can't ban these cryptocurrency because it can come into existence from any place. No boundaries barrier. But a government can stop mining, a government can ban exchanges. A government can stop reading in a country.

Well done sir

"governments are pussies man" - travon james


Btw Indian prime minister made tweet about the potential of blockchain. And since bitcoin is pioneer of blockchain I don't think so it is getting banned in India.

Yeah I saw that earlier, great news!

Hey @louisthomas , almost a decade without any government outlaw cryptocurrencies now. So to me is impossible , because outlawing crypto will affect government too. Without Bitcoin there will not be block chain.
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that is the whole point of decentralizing, it basically becomes impossible, i guess they could make it illegal to own but that is it

It's amazing that you actually put thought into this.

Great video! Thankfully because of the nature of blockchain technologies, they can never be stopped by one government or corporation

But I really doubt that that would ever happen, but in that crazy alternative scenario, that would´ve been God awful

I think the government must allow BTC because it's so much behind it!

Quite impossible for them to do so they cam make it illegal but they cannot deny access to them. Anyway they would damage the economy in a way that no one can truly predict if they successfully band the crypto. Because of that is unlikely they would even try but if they do, they definitely would not look for the interests of its citizens.

I think this would be really really bad !

Personally, I like crypto BECAUSE it runs contrary to Banker controlled governmental agencies. I like the peaceful anarchist leanings that crypto affords or at least could afford it's users. Anonymity is not a bad thing when those watching you are hostile to personal freedoms. Liberty to do Right is simply Christian Anarchy at it's apex if Governments seek to impair that which is RIGHT. I would not be surprised to see satanic governments attempt to quell the only avenue available to being Marked by the beast.

Well... that would suck balls...

Certainly would suck balls... big ones!

Doubt it would happen now... we’ve come too far. Regulation will come though

I think it will make a lot of people angry, very angry. And it also wont happen.

I am in Korea, and as many of you know, recently they tried to restrict it (and considered outright banning for a while). The big bank that was providing virtual accounts even stopped allowing the creation of them for cryptos, but people just changed banks.

They can try to ban it, but I believe it will always exist. Like the darknet in a way. They governments are better off trying to regulate so that more people feel comfortable trading and using cryptos, and it benefits them as they can monitory it and (I hope not...) tax it. It's better that than banning. The exchanges already rip us off anyway!

I am hope it never happens , the government should step out of crypto , anyone can invest in it , not just people with lots of money

you are too cocky, my comment is never upvote

I think they realize by regulating it too fast it could cause a major upset in the economy tbh, so it will prob. happen slowly overtime.

There are a lot of technical reasons crypto would be hard to ban, but they fall short of the real reason governments are warming up to cryptocurrency: Money.

The United States isn't going to ban crypto and hand a growing potential multi-trillion dollar industry to the East. Russia is thinking the same about America. No government can actually ban crypto now without the worry that the others will take advantage.

The game changed when crypto touched $1Trillion, IMO.

There is a strange consensus for those who know little about cryptocurrency (those that I encounter at least) and that is that Bitcoin is a bubble or an underground movement. This is the general uninformed view hich is basically 'if you don't understand it, then beware.'
Perhaps when there is a real depth of knowledge in the mainstream there will be more balanced acceptance and a real seachange can take place. Until then i feel it is a volatile space, with considerable risk.

Sry but I doubt that that would happen

“But I didn’t ask for this” OUTLAW

Only time will tell!

You have made some very valid points. Brilliant! I see similar things like bitcoin futures legally trading on the CBOE and CME. Why would the US gov allow it if they were anti crypto? That’s just another example...

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The gvt will allow cryptos... just to claim more and more taxes !

This idea wont work! governments have to find something useful to do instead of f*cking their own people. Internet cannot be stopped.

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