Banning bitcoin achieves a slow strangle on the situation. You stop those people that where on the fence in the said Country from jumping on board. You also detract a few people active in the community because some of us have lives that can be easily tarnished or destroyed with the wrong light.
The tools used alone always look less than but when you use them together with other aspects you do achieve the goal they set forth.
Basically I see a lot of talk about bitcoin being above governing powers but people that state this usually have not been in a country that has stripped basic rights and made people do things they never would have imagined to their own loved ones.
Its easy to state these things when times are good or you trust the governing powers. Try to put your selves in the shoes of those that face far greater punishment and you may see that bitcoin is more fleeting than you are lead to believe.
Topic: Effects of Banning Bitcoin ? - page 14. (Read 10286 times)
Some of the users would stop using it at first, but as time goes by most of them would be back again to use Bitcoin. Because even tho Bitcoin got banned people wouldn't just leave it there, and the government shouldn't intervene with it.
Banning has no sense, this can't stop people from using Bitcoin. This reaction of some governments is just product of their fear of new and unknown to them but you can't stop the progress, we all know that.
Bitcoin and other cryptocurrencies have become the part of financial world and inevitable facts in everyday life. Sooner or later even the countries who have banned Bitcoin will have to accept it if they want to be the part of modern and civilized world.
Bitcoin and other cryptocurrencies have become the part of financial world and inevitable facts in everyday life. Sooner or later even the countries who have banned Bitcoin will have to accept it if they want to be the part of modern and civilized world.
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.
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.
all these countries especially those big ones for example Japan are trying to adopt bitcoin so hard and they are so interested in bitcoin. i have even heard Japanese saying we want to make bitcoin an official currency so the banning will never happen.
Bans means that people would be penalized if they use the currency and this wouldn't be good for anyone. Trades would definitely reduce and bitcoins would be used as an illegal currency which is a big concern. The crypto currency would become more popular by then and people would prefer to use a legal crypto currency instead of bitcoins that would become less popular (due to limited number of bitcoins available then and dropping prices). I don't see that coming for the next 5 years though.
Banning bitcoin would somehow affect on bitcoins full adoption because the boundary would be lessen though but I don't think it would make such huge impact into it because as we all know bitcoins adoption is still growing and no matter how government would banned it , it would definitely used by people because they truly believe on the potential and the usefulness of bitcoin into their lives.
Some are say bitcoin get ban from some countries and said if that is will give a lot of negative feedback for disturbing the spreading of bitcoin, and it's wrong, i should rather say if some countries are alread making any statement for banning bitcoin are starting for pull their statement and throw them into the trash. In this time with involving with a lot of the potential are showed by bitcoin are changing their mind into the open minded about the crypto currency. In fact this so easy the time just can answering about this and too many people are starting for be apanice caused by this before.
Bitcoin has been here for so long as it's very progressive now. If other countries will ban it then we cannot do anything about that since we cannot fight for the people living the area where bitcoin is ban, they should fight for there rights as bitcoin for me is freedom and I love to use it in daily lives if possible.
The effect of a Bitcoin ban in one country will vary greatly, depending at which country and time frame you will look at. The short term effects of a Bitcoin ban may be negative in the country affected - but only if the country is able to enforce the Bitcoin ban to a meaningful degree. If the banning country has no significant ability to prevent people from using Bitcoin, a ban might even be considered free advertising to use the currency.
Imagine a country like Venezuela. The economic restrictions are draconian, yet the government's ability to enforce them all remains very limited. In fact for the people in Venezuela it's a question of survival to find a way around the restrictions of the socialist dictatorship. Bitcoin might actually be a much more effective and safer method to engage in gray / black market activities essential for survival.
In addition a Bitcoin ban in one country will improve the economic attractiveness of countries with a more liberal approach to Bitcoin. As it's highly unlikely that all countries will ban Bitcoin, banning Bitcoin might also have damaging long term effects for the economic health of the restrictive nations, which will eventually lead to Bitcoin adoption at a later date.
ya.ya.yo!
Imagine a country like Venezuela. The economic restrictions are draconian, yet the government's ability to enforce them all remains very limited. In fact for the people in Venezuela it's a question of survival to find a way around the restrictions of the socialist dictatorship. Bitcoin might actually be a much more effective and safer method to engage in gray / black market activities essential for survival.
In addition a Bitcoin ban in one country will improve the economic attractiveness of countries with a more liberal approach to Bitcoin. As it's highly unlikely that all countries will ban Bitcoin, banning Bitcoin might also have damaging long term effects for the economic health of the restrictive nations, which will eventually lead to Bitcoin adoption at a later date.
ya.ya.yo!
Although there are some countries ban bitcoin, I don't think those restrictions ever actually work as I see that people from those countries are still using bitcoin despite the laws. And if the government want to have control on bitcoin, I think it will be hard for them to make people follow that regulation because bitcoin users will just not care. So banning bitcoin won't affect bitcoin much, and maybe it'll draw more people's attention to bitcoin.
There was a topic a day a ago what happens if btc gets banned so again a new topic hmm. See countries are accepting btc, time being it may be banned but not for long. Winters are coming and so is Bitcoin revolution, so it will be really stupid for a country to avoid it.
It has no impact at all. You just have to look at the localbitcoins volume exchange in the BTC/RBL (russian currency, the rubble) and you will see that the volume of exchange has only been going up. This is pretty much proof that no matter how much the government tries to scare people with jail time, the unstoppable rise of Bitcoin continues.
There's just no means to completely stop the usage of bitcoins just likw that. People see itbas a loberation fron the norm of making money and being in the hands of governments/banks.
It has no impact at all. You just have to look at the localbitcoins volume exchange in the BTC/RBL (russian currency, the rubble) and you will see that the volume of exchange has only been going up. This is pretty much proof that no matter how much the government tries to scare people with jail time, the unstoppable rise of Bitcoin continues.
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But if china ban bitcoin, i think it will cause a huge impact on bitcoin price because they are holding a lot of bitcoin investment and bitcoin farm that supply a huge volume of btc in the market. I think the price of bitcoin will be going down because of the consumer and supplier lost. So banning bitcoins really affects on it's market price
I think one of the major effect of banning bitcoin is that it will go from 50% good reputation 50% bad reputation into 90% bad reputation 10% good reputation. Nowadays, people are saying bad things about bitcoin and how it is used in the darkNet. But when bitcoins become banned, then this bad reputation will even push harder.
The only ones that will remain as a bitcoin user are those that are knows how to remain anonymous on the Internet which is pretty much all of us. We are the only ones that will say that bitcoin isn't actually something 'bad' and if people find out that you're still using bitcoin, they will think of you as a criminal of sort.
The only ones that will remain as a bitcoin user are those that are knows how to remain anonymous on the Internet which is pretty much all of us. We are the only ones that will say that bitcoin isn't actually something 'bad' and if people find out that you're still using bitcoin, they will think of you as a criminal of sort.
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.
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.
The countries that ban bitcoin like Russia might soon accept bitcoin.
Banning bitcoin in some countries doesn`t damage bitcoin at all.
People still use btc in those countries.
But if china ban bitcoin, i think it will cause a huge impact on bitcoin price because they are holding a lot of bitcoin investment and bitcoin farm that supply a huge volume of btc in the market. I think the price of bitcoin will be going down because of the consumer and supplier lost. So banning bitcoins really affects on it's market price
I don't think it will affect much for bitcoin user, the users still can stealthily used bitcoin to do transaction because bitcoin user status is hidden, of course there will be less user because if bitcoin being banned it will difficult to change it to fiat and since the store that accepting bitcoin still little, so the user will feel a bit confused how to spend the coin
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.
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.
The countries that ban bitcoin like Russia might soon accept bitcoin.
Banning bitcoin in some countries doesn`t damage bitcoin at all.
People still use btc in those countries.
you are right that already some countries had banned the bitcoin in thier country to use .
but in my opinion this descion was only because the bitcoin is not giving any commission of tax to the government of the countries , so some countries declare it as illegal but i think there will be no more country will ban it because it is going to make a platform to male direct deal with bank fiat this will make btc more clear way to use in the view of the countries .
but in my opinion this descion was only because the bitcoin is not giving any commission of tax to the government of the countries , so some countries declare it as illegal but i think there will be no more country will ban it because it is going to make a platform to male direct deal with bank fiat this will make btc more clear way to use in the view of the countries .
Banning bitcoin exchanges may limit high volume bitcoin trading however this may not stop people trusting over bitcoin and they will continue to use bitcoin in future too.
Local merchants may not accept bitcoin payments however demand can still remain high from the people buying bitcoin constantly to do trading as well as for storing their wealth safely without being noticed by governments.
Local merchants may not accept bitcoin payments however demand can still remain high from the people buying bitcoin constantly to do trading as well as for storing their wealth safely without being noticed by governments.
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