Topic: Effects of Banning Bitcoin ? - page 8. (Read 10286 times)

May be Satoshi is in dark waiting for price to reach 1 million so that he could sell his bitcoin and become the next billionaire but if it happens then we might see him on this world because then he should have to work hard to find money.

i think bitcoin is not banned in any country and not going to be banned in future, hope that in future states are going to consider bitcoin as legal currency and then more and more people will enter in the world of bitcoin,

One day crypto will take over the people. However it is tough for the older generation to accept its safety and that such thing really exists. Most of the bitcoin users are young-middle aged people. Less tech-savvy people have never even heard about it (there might be exceptions as well).

Still its good to see that banning bitcoin is these countries did not have good effect. I am sure crypto will gradually emerge as the new mode of primary transaction in these countries.

We have seen the government of China and Russia attempting to declare bitcoin illegal and we know they did not get anywhere with it, instead bitcoin took center stage in both countries. It is now already to late for any government to want to ban bitcoin, because bitcoin has become mainstream and people are the wiser that change in the way we know and see money is inevitable.

Besides, at no time would all the government across the globe be able to reach an accord to ban bitcoin and one strong point, is that bitcoin is not tied to any one country or government. They are sure to come up with some funny laws to frustrate the freedom that bitcoin represents, but it is for us, the community to remind them that power actually belongs to the people.

Hmm i think that is not bad idea to solve the problem about banning the bitcoin transactions access in country server. I ever know what is vpn and how it work from browsing on internet. That someone can fake the own IP into another country server.
May be in the transactions of bitcoin there is no affects if the government banning bitcoin when we see on server aspect.

If bitcoin is really banned then i am sure that people will start using other virtual currencies like ETH.

You could still able to access  sites  which  you do  have  bitcoins  transactions by  using  VPN and Tor  websites. Even they  banned  bitcoin site  on a particular country  but still  it cant  stop totally  bitcoin  users   to access it. No matter  how  hard  the government  would implement such rules  i think  it would be  useless because   for sure   underground  transactions   would be  really made.

I don't think so, usually if all major countries were to ban bitcoin, bitcoin's price usually going down although it is just for short term and it will become rebounce again. Because banning of bitcoins has been happened but bitcoin still be survive for right now.

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 won't be a much big of a problem, because bitcoin isn't controlled by any government so it cannot really ban from using it people will still use it. The only downside might be that bitcoin's price might not rise and instead drop.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.