Quote from: Hydrogen on August 31, 2017, 09:01:00 AM

Quote from: Gozie51 on August 29, 2017, 05:47:03 AM

It crossed my mind yesterday and I was thinking what if the government wakes up with an obnoxious law against btc ?
Its trade, exchange and outrightly banning btc usage.
Is this possible?
Do you see this coming?
What do you think & what will happen?

If you're referring to the united states, look up something called "senate bill 1241" which involves crypto currencies/bitcoin.

It contains provisions which would allow the government to seize crypto for no reason with no checks or balances. It contains other controversial content including adjusting the terms gift cards and others associated with bitcoin/crypto are forced to operate.

It is also possible that the united states government uses its influence to protect chinese bitcoin miners having a controlling stake rather than a more decentralized mining base operating internationally. There's a lot that could be said on the topic. I wouldn't view my own post as being particularly informative or a decent overview.

I was going through the answers and found yours, seems to be very solid reason but limited to each countries rules and regulation or the government itself. As far as I know these changes can never take place suddenly int he asian countries like India, Bangladesh,etc. Their government is strict but at the same time *corrupted too. They might just take lot of time before they could even make any amendments within those countries. It is said that politicians over there are using bitcoin for the money laundering purposes and thats why the bitcoin is still running over there without any hassles.

So you see this is really matter of each country. Where one may accept the bitcoin openly (like Japan, Switzerland) or they may not and make it strict for example, USA.

*No offence. Information obtained form the local news paper.