There has been news that many governments are threatening to ban the use of bitcoin currency. Many investors are worried that they may lose in the process, and this has sent cold shivers to those who are about to get into the venture. These bitcoin news may have some truth in it. This is in particular consideration of the fact that many crimes are supposedly happening in bitcoin currency- since it is not regulated by the government. Even worse, some newsmakers have evidence that illegal trade is being conducted in the bitcoin world.
Is it possible for the government to ban bitcoin currency? Well, unfortunately, the answer is yes. Just like it was the case of online poker, the government can come up with a law that makes bitcoin transactions illegal. They could threaten the banks through legal action for allowing for bitcoin transactions. As it is the case today, some banks are skeptical about making such transactions because of the fear that the currency will be banned at some point in the future.
Should the investors be worried investing in bitcoins? According to the newsmakers, one must trend on the bitcoin world carefully. One must be ready to take risks, just like it is the case with many investment ideas. On the other hand, the government has to have enough prove that fraud is happening in the bitcoin market for them to ban the currency.
Governments that opt to ban bitcoins may not have 100% success. In the case of online poker, there are still many people involved in the trade today. Therefore, the government may have some level of success in banning bitcoin trade, but they will not have absolute success.
The Bitcoin Trade Continues
In the mean time, as the debate on bitcoin banning and the skepticism surrounding the currency is going on, many people are making a lot of money by selling these currencies across the globe. No one should be left behind in making such profits just because some governments are considering banning this digital currency.