But how will these "bans" really be effective? I could always use a VPN and Tails Linux to hide my transactions and dealings from the authorities. The only difficulty I could go thru is how to convert to fiat if I only decide to convert but it is not impossible. An underground market for Bitcoin to fiat conversion could take place in a big way.
It will be like dowloading movies and music thru torrents. It is "banned" but they have difficulty enforcing it.
Topic: Effects of Banning Bitcoin ? - page 16. (Read 10286 times)
More countries won't plan of banning bitcoin or the digital currency network, because soon everything is gonna get digitalized. At the same countries plan to ban and make regulations only when there economy gets affected by the bitcoin. Possibly very few with a fear of economy fall has banned, but users still continues to use it. So not much effects can be seen over the growth or potential of bitcoin.
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.
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