• Please note to have a link in an article you must first request permission from the administrator and pay a fee. You can read more information here.

Do you think that major countries would outlaw Bitcoin?

  • Thread starter Thread starter Potuse
  • Start date Start date

Potuse

Guest
There are record number of countries that kicked against Bitcoin because they see it as a threat to their financial system. Most importantly, the government see it as a threat because it lacks central authority and if majority of the country outlawed bitcoin, it will affect it greatly.
 
Russia had announced to ban bitcoin, then the war happened and Russia sold gas for bitcoin. China has banned bitcoin in the mainland but they have recently allowed bitcoin in Hong Kong. I do not think major countries will ban bitcoin. In fact, I believe more countries will be open for bitcoin transactions.
 
DigitalNomad said:
Russia had announced to ban bitcoin, then the war happened and Russia sold gas for bitcoin. China has banned bitcoin in the mainland but they have recently allowed bitcoin in Hong Kong. I do not think major countries will ban bitcoin. In fact, I believe more countries will be open for bitcoin transactions.
Click to expand...
These countries know they can't do without Bitcoin because of the benefits of using it. The millions of dollars Russian received from selling their gas to support their war against Ukraine cannot possibly be sent through the bank. China is a funny country with their antics against Bitcoin but later turned to accept it.
 
Ja sa bong said:
These countries know they can't do without Bitcoin because of the benefits of using it. The millions of dollars Russian received from selling their gas to support their war against Ukraine cannot possibly be sent through the bank. China is a funny country with their antics against Bitcoin but later turned to accept it.
Click to expand...
China has frequently banned crypto. In 2014, when China banned bitcoin the price came down to $400 from $1300. That's when I first heard of Bitcoin. By the way, Bitcoin is also not legal in my place.
 
DigitalNomad said:
China has frequently banned crypto. In 2014, when China banned bitcoin the price came down to $400 from $1300. That's when I first heard of Bitcoin. By the way, Bitcoin is also not legal in my place.
Click to expand...
China needed to suppress cryptocurrency to launch their own coins but they still use Bitcoin in other ways. I think why their ban on Bitcoin in 2014 affected Bitcoin bad was because they were the main country every other countries looked to for production.
 
I don't see major countries going to make rules to outlaw Bitcoin and other cryptocurrencies. From my observations, they are going to be open to embracing Bitcoin and other cryptocurrencies sooner than later. PayPal just recently adopted cryptocurrency. We will may see Amazon adopting Bitcoin payment soon and even starting their own stable coin like PayPal did.
 
You must log in or register to reply here.
Back
Top