Effects of Banning Bitcoin ? - page 5.

Mastsetad

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Quote from: FaucetRank.com on December 16, 2016, 10:12:11 AM

If Bitcoin is banned than people who get started to use Crypto currencies will afraid to use other alternative crypto currency so the Bitcoin ban will also effect other crypto currency or we can say all crypto currency markets will die.

To be honest, i feel like other crypto currencies or crypto currency markets are running just because of bitcoin, because people trade other alt coins in order to get more bitcoins but not because they love those coins, so basically if bitcoins dies, they will eventually die with it.

dfox101

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Bitcoin can't be banned as it becomes a sizable industry now. People spent millions and millions dollar on it. It can be restricted though, if so it will become a dark gold used in underground traffic.

Harlot

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Quote from: Mr.grin on December 16, 2016, 11:33:26 AM

Quote from: FaucetRank.com on December 16, 2016, 10:12:11 AM

If Bitcoin is banned than people who get started to use Crypto currencies will afraid to use other alternative crypto currency so the Bitcoin ban will also effect other crypto currency or we can say all crypto currency markets will die.

if bitcoin banned, it will be very many people are panicking because of it, especially on the internet money seekers who rely on bitcoin or other cryptocurrency. banned bitcoin will have an impact on all the coins. maybe people will not want to believe in coins.

If Bitcoin is banned around the world it would simply be over for all of us. The government can easily control the content of the web. The government even has control on what goes in the dark web. Cryptocurrency in general will have no value at all after that happens it won't be use by anyone or accept by any establishment. Even creating a new kind of cryptocurrency won't solve the problem.

Mr.grin

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Quote from: FaucetRank.com on December 16, 2016, 10:12:11 AM

If Bitcoin is banned than people who get started to use Crypto currencies will afraid to use other alternative crypto currency so the Bitcoin ban will also effect other crypto currency or we can say all crypto currency markets will die.

if bitcoin banned, it will be very many people are panicking because of it, especially on the internet money seekers who rely on bitcoin or other cryptocurrency. banned bitcoin will have an impact on all the coins. maybe people will not want to believe in coins.

FaucetRank.com

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If Bitcoin is banned than people who get started to use Crypto currencies will afraid to use other alternative crypto currency so the Bitcoin ban will also effect other crypto currency or we can say all crypto currency markets will die.

Bitcoin0916

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Quote from: Taki on December 11, 2016, 03:02:41 PM

For now no one country is going to ban bitcoin, I think bitcoin is going to be banned by all countries only in one case - when the price for bitcoin will rise extremely high. In that case many people will try to cash out their bitcoins and in some blaces it may be just not enough money for such transaction or at once many people will be rich.

Yes, no one country ban bitcoin but no one country accepted bitcoin. In my country using bitcoin is illegal because bitcoin can use for money laundry.

Victorycoin

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Quote from: doomistake on December 11, 2016, 11:16:03 AM

If this thing happens in all over the world, I think all of the bitcoin users would gone wild protesting that bitcoin should never be banned because it doesn't cause any harm in people, and everything in this world. Maybe the reason why they would ban bitcoin because they can't control it I guess, since most of the people or officials in the government are corrupts and the only thing that they want is money for them to be rich.

The hardest thing is for the world to have one voice on anything, so a consensus to collectively ban bitcoin is most unlikely. And the community does not need to protest, we simply have to promote bitcoin more and more, it will find its way and level like water. Bitcoin is not good news for any retrogressive government, but there isn't much they can do about it. If nothing, its market capitalization and daily volume of trades, already speaks for its acceptability among people across the globe.

bulwani

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Quote from: n0ne on November 01, 2016, 09:38:06 PM

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.

Being a digital currency that is based on the internet. The only way the governments can ban bitcoins is by regulating the internet and maybe cutailing the conversion of the fiat currencies to bitcoin exchanges. otherwise it ios very hard.

Zosinburg

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Quote from: deadpoolx on December 11, 2016, 05:34:03 PM

Quote from: Taki on December 11, 2016, 03:02:41 PM

For now no one country is going to ban bitcoin, I think bitcoin is going to be banned by all countries only in one case - when the price for bitcoin will rise extremely high. In that case many people will try to cash out their bitcoins and in some blaces it may be just not enough money for such transaction or at once many people will be rich.

Bitcoin's ban would be a wrong decision by governments. That would not hinder the use of the currency. As already mentioned, Bitcoin was designed to prevent people's money from being controlled by centralized institutions. I think if governments decide to take some action against it, they will probably create some kind of centralized blockchain, for their own cryptocurrency, which would not make much sense either.

That is right. Bitcoin is just a kind of property. It is legal and it is similar to copper and shell fish shells, which were used as a currency before.

deadpoolx

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Quote from: Taki on December 11, 2016, 03:02:41 PM

For now no one country is going to ban bitcoin, I think bitcoin is going to be banned by all countries only in one case - when the price for bitcoin will rise extremely high. In that case many people will try to cash out their bitcoins and in some blaces it may be just not enough money for such transaction or at once many people will be rich.

Bitcoin's ban would be a wrong decision by governments. That would not hinder the use of the currency. As already mentioned, Bitcoin was designed to prevent people's money from being controlled by centralized institutions. I think if governments decide to take some action against it, they will probably create some kind of centralized blockchain, for their own cryptocurrency, which would not make much sense either.

clickerz

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Quote from: davinchi on December 11, 2016, 01:51:29 AM

Quote from: charmingfreddie on November 21, 2016, 05:48:12 PM

Banning bitcoin will make it more popular, especially during/after a financial crisis. How can they stop it? They cant!

Yeah actually banning would make sure that people who don't know about bitcoins would know about it with that news and its better for our community, and remember its humand tendency that whenever we are stopped from doing something we do it the most. So lets see ho they stop me from using bitcoins Angry

You have also a point here. Banning bitcoin will create curiosity among people and the more it is in news, the more people will become eager to try to own one. But I think, banning bitcoin will have only significant effect as people have already experienced how convenient bitcoin in their transactions.People will always find way to transact with bitcoin underground.

Taki

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For now no one country is going to ban bitcoin, I think bitcoin is going to be banned by all countries only in one case - when the price for bitcoin will rise extremely high. In that case many people will try to cash out their bitcoins and in some blaces it may be just not enough money for such transaction or at once many people will be rich.

justdimin

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Quote from: Shenzou on December 10, 2016, 01:22:25 PM

I really think if bitcoin gets banned from some countries it will still be used , in fact if governments make bitcoin illegal the price will go higher , so bitcoin is used by lots of people from us china and Europe so even if they are banned in some areas of these countries the bitcoin activity is still getting higer

Yes I agree banning it would also give a recognition among the people who don't know but actually think of the people who wants to buy bitcoins for fiat, how would they get it ? I mean the sellers would decrease, like you see in localbitcoins right now a lot of users sell bitcoins for fiat that would decrease if they are banned in specific countries.

MFahad

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Many Governments have supported crypto currencies and tried to set up laws to regulate it. Crypto currencies will be widely used in future and banning them is like saying NO to future!

posternat

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Quote from: d@nte on December 11, 2016, 10:53:46 AM

Quote from: hawkins on December 11, 2016, 10:31:11 AM

perhaps many people would complain about it. Well, most people in the world have invested their money in the form of bitcoin, even many people who have a high rank, invest the money they have in bitcoin. Well, maybe there will be some crisis, and I am sure it will be bad.

If there was some kind of panic selling, it would be something temporary. This would not prevent people from using Bitcoin, which would continue to be a decentralized form of payment.
Perhaps this would even help to promote Bitcoin, so the ban would not be a wise decision from governments.

Price will be affected to a great extend as common people will stay away from bitcoin if Government bans it. But the chances of such bans happening are remote.

genos

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Any store can buy, sell, and accept Crypto

Quote from: doomistake on December 11, 2016, 11:16:03 AM

If this thing happens in all over the world, I think all of the bitcoin users would gone wild protesting that bitcoin should never be banned because it doesn't cause any harm in people, and everything in this world. Maybe the reason why they would ban bitcoin because they can't control it I guess, since most of the people or officials in the government are corrupts and the only thing that they want is money for them to be rich.

Yeah indeed as far as i know no one can control bitcoin because bitcoin work decentralized and anonymously . But i think if binot really banned by a countries i an sure some big and bad affects will happen for the price of bitcoin and the user of bitcoin themselves in financial

pereira4

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The only way to ban bitcoin effectively is by governments having a global agreement on banning it, which has never happened and will never happen because it's simply impossible that governments all over the world agree on any matter. It's absurd so it's a non issue. Bitcoin cannot be banned by the derived conclusion of the aforementioned premises.

doomistake

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If this thing happens in all over the world, I think all of the bitcoin users would gone wild protesting that bitcoin should never be banned because it doesn't cause any harm in people, and everything in this world. Maybe the reason why they would ban bitcoin because they can't control it I guess, since most of the people or officials in the government are corrupts and the only thing that they want is money for them to be rich.

Luke2939

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Quote from: ged00u on December 11, 2016, 10:55:28 AM

Quote from: hawkins on December 11, 2016, 10:31:11 AM

perhaps many people would complain about it. Well, most people in the world have invested their money in the form of bitcoin, even many people who have a high rank, invest the money they have in bitcoin. Well, maybe there will be some crisis, and I am sure it will be bad.

It is not about complaining or not. I think if a country ban Bitcoin, Bitcoin price may increase even better. Or maybe I could start a revolution from people who want to destroy the Government. Anyway, in my opinion, banning bitcoin only brings bad impacts to the country's ecosystem and society

Russia did ban bitcoin and then they quickly decided to allow bitcoin and just try to regulate it. I think the Governments have realized the perks of having a crypto currency like bitcoin as this will encourage innovation and developments in the receptive fields. Soon we will be witnessing Government backed crypto currency. And bitcoin will not be banned.

ged00u

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Quote from: hawkins on December 11, 2016, 10:31:11 AM

perhaps many people would complain about it. Well, most people in the world have invested their money in the form of bitcoin, even many people who have a high rank, invest the money they have in bitcoin. Well, maybe there will be some crisis, and I am sure it will be bad.

It is not about complaining or not. I think if a country ban Bitcoin, Bitcoin price may increase even better. Or maybe I could start a revolution from people who want to destroy the Government. Anyway, in my opinion, banning bitcoin only brings bad impacts to the country's ecosystem and society

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