Topic: Effects of Banning Bitcoin ? - page 10. (Read 10290 times)

Yeah. I think bitcoin cannot be banned by the government since it does not cause harm to any entity. All that bitcoin has been doing  is giving benefits to people who are using it. In addition, it is decentralized. So even if it is being banned, the government will not have the control over it and to the people who are using it. As for me, the government will have no track on the ongoing transactions in bitcoin and its users.

Why would the government ban bitcoin when in reality it helps us to transact fast and cheap online. That benefit cannot be given to us with some legitimate business, and it is our freedom that we need to fight for so  we can still continue to use bitcoin for good.

Banning bitcoin will surely has negative effect, like the price will go down. As long as the US or China will not ban the bitcoin, the bitcoin will still survive, because we all know that they have the highest bitcoin users.

I suppose Banning Bitcoin is too stupid for smart governments. Why should they ban the future? They better support it and become (or remain) leaders in the world economics. If Bitcoin get's banned then it will be used more for illegal stuff like buying drugs or weapons and there might be some protests in democratical countries about it.

Actually the countries that allow bitcoin already tax it, you have to declare it and pay X% to government however can you imagine how hard is to discovery if anyone have bitcoins since is something anonymous? And that's why some countries are baning the bitcoin.

if the whole world bans bitcoin, i am not sure that bitcoin community will not react. there will be something to do with the banned of bitcoin, so people still can use bitcoin. but its different if internet gets killed, and this can make anything in chaos, because for now, the technology is like primary need for every people, not just for people in office but people in home too.

I don't see this problem coming up in the future. Governments may tax bitcoin to demotivate it's user and adoption and if by nay chance bitcoin is banned, then banning bitcoin would have severe effect on the crypto community and in the innovation of money. The future of money is programmable money, that which is hard to fake and which can be sent to anyone anywhere in the world within seconds. So banning bitcoin would be like killing innovation.

It's clear that people are so scared about the NEWS more than the actual facts. There are a lot of idiots out there that buy bitcoin and panic at the most ridiculous news, let alone when some ban rumor is around the corner. It's sad to see, but until we have a bigger marketcap, idiots panic selling can modify the price this way.

It really doesn't affect me because I will continue using Bitcoin even if government bans it because who will know that i ask using bitcoin. I will have anonymous account in blockchain that's it, otherwise I have friends from other countries and i will tell them to manage my account and they will definitely do it for me.

Okay so, bitcoin is outright banned in some countries, so the banning of bitcoin is already a reality. The major government including Russia, China, and the USA (just to name a few) could also ban bitcoin and cryptocoins in general. My questions to you guys are: What do you think will happen to bitcoin? If any, what is your plan of action and what would you like to see from the community in terms of continuation and development? Bitcoin probably will never die but the banning of bitcoin could change the whole dynamics (let alone a temporary major price dip).

I'll give my thoughts first. I think bitcoin will grow and develop into what we want it to be regardless of the legal status. Fundamentally what bitcoin represents is anti-authoritarian and governments banning of it should not much of an impact fundamentally. Sure the price will suffer for at least a while although still climb "to the moon" probably, but as far as technical development and social spreading goes, I think that will continue. Unfortunately that could mean that it operates in the black market only for a while which would slow things down but I do think that would be a temporary affect. I am curious though if the governments could have a strong enough desire to destroy bitcoin or prevent it from growing past a certain point, that they could actually do that. So I wonder what you guys' thoughts are.

Why would the government ban bitcoin when in reality it helps us to transact fast and cheap online. That benefit cannot be given to us with some legitimate business, and it is our freedom that we need to fight for so  we can still continue to use bitcoin for good.