Bitcoin will become stagnant if all major countries were to ban it because it would then only be a black market currency. The best scenario is for bitcoin to be legal but will only minor regulation so it can be used by the mainstream but still be out of the control of banks and the government.
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. 
Topic: Effects of Banning Bitcoin ? - page 9. (Read 10290 times)
hero member
Activity: 560
Merit: 500
Crypterium - Digital Cryptobank with Credit Token
Bitcoin is extremely hard to ban. The decentralised nature of Bitcoin allows users to connect to a variety of nodes to transmit and receive information. Due to the large number of nodes, the government will have an extremely hard time to ban the nodes. Even if the government were to try and use DPI, users can switch to stronger encryption methods and connect via VPN. Attempting to ban it will just push it further underground, making it hard to regulate.
Agree, these banning implementations would really force the people or bitcoin users to do underground transactions which would really make hard for them to trace even more. It would be really useless on this kind of idea , its better to adopt bitcoin than to ban it but well, governments on each country do really differ regarding on the insight of such thing like bitcoin.The technology today was really hi tech. To the point that digital currency has been made for alternative payment. I think banning bitcoins is not a solution. But instead of, the government should adopt bitcoins because it helps a lot of people to earn money in bitcoins even at low price. If they pursue to banned bitcoins, i think many of bitcoin users will go to more illegal transactions.
Bitcoin is extremely hard to ban. The decentralised nature of Bitcoin allows users to connect to a variety of nodes to transmit and receive information. Due to the large number of nodes, the government will have an extremely hard time to ban the nodes. Even if the government were to try and use DPI, users can switch to stronger encryption methods and connect via VPN. Attempting to ban it will just push it further underground, making it hard to regulate.
Agree, these banning implementations would really force the people or bitcoin users to do underground transactions which would really make hard for them to trace even more. It would be really useless on this kind of idea , its better to adopt bitcoin than to ban it but well, governments on each country do really differ regarding on the insight of such thing like bitcoin.The technology today was really hi tech. To the point that digital currency has been made for alternative payment. I think banning bitcoins is not a solution. But instead of, the government should adopt bitcoins because it helps a lot of people to earn money in bitcoins even at low price. If they pursue to banned bitcoins, i think many of bitcoin users will go to more illegal transactions.
Bitcoin will become stagnant if all major countries were to ban it because it would then only be a black market currency. The best scenario is for bitcoin to be legal but will only minor regulation so it can be used by the mainstream but still be out of the control of banks and the government.
banning bitcoin influential enough if one country prohibit to use bitcoin maybe result in a decrease in the price, especially if it's a big country
if currency is considered good for future prospects banned, it will generate other currency instability
if currency is considered good for future prospects banned, it will generate other currency instability
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
Well if you observe the market this past week, bitcoin was on an uptrend movement then suddenly a rumor about China planning to impose Capital Control on bitcoin make bitcoin uptrend price to dip. This scenario show the actual effect of Bitcoin being banned by a country.
And I agree once bitcoin is banned, users especially those who invested too much money on this won't just accept it instead they will find a way to use bitcoin which will be the probable cause of using bitcoin exclusively again in some dark-net or illegal activities.
Yup, since bitcoin has already established its name. And there are many trials it has been overcome and people nowadays love using bitcoin. Especially, it generates opportunities such as campaigns and other services in which we can earn some bitcoin. Now, there is no reason form them to ban bitcoin as we are using it in a right way. If so, I think we are going to do bad things and will not abide their rules if they perit us to use bitcoin.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
Well if you observe the market this past week, bitcoin was on an uptrend movement then suddenly a rumor about China planning to impose Capital Control on bitcoin make bitcoin uptrend price to dip. This scenario show the actual effect of Bitcoin being banned by a country.
And I agree once bitcoin is banned, users especially those who invested too much money on this won't just accept it instead they will find a way to use bitcoin which will be the probable cause of using bitcoin exclusively again in some dark-net or illegal activities.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
The real problem is we can't see bitcoin mass adoption or seeing peeople accept bitcoin as payment if government banned bitcoin and have big impact on future.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
The real problem is we can't see bitcoin mass adoption or seeing peeople accept bitcoin as payment if government banned bitcoin and have big impact on future.
This isn't possible to ban bitcoin using because there is no law prohibits bitcoin using its one of a kind of internet business nowadays and government already imposted taxes particularly website hosting and internet using is the main reason why bitcoin existed a lot. If ever they will ban it its a great diappointment to all who have invested and earned through bitcoin its effect is domino not only one but many of those investors particularly with altcoins trading which is really profit gaining.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
I think you have the point but i think it can not affect a lot in the price of bitcoin.. according to other members here that there is some country that bitcoin is ban.. but there is no effect for price of bitcoin., because if bitcoin in their place is ban they are still using it anonymously.. Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
The North American Indians used to use clam shells as currency,so to think bitcoin is not going to feel any strife is crazy.
Time and change are constant and value changes with each generation,so lets not use such strong language about bitcoin never this or that because we have no clue what the future brings.
Take any kids trend and you think it has a strong hold on the system (Furbies,Pokemon,etc.) and yet they all go away. Not saying bitcoin is a kids toy but the mindset of a child needing a popular toy is the same extent the bitcoin will never fail crowd are coming at the issue.
Governments around the world are looking at putting up walls or tearing them down when it comes to trade/relations and bitcoin could easily get snared in the process.
Time and change are constant and value changes with each generation,so lets not use such strong language about bitcoin never this or that because we have no clue what the future brings.
Take any kids trend and you think it has a strong hold on the system (Furbies,Pokemon,etc.) and yet they all go away. Not saying bitcoin is a kids toy but the mindset of a child needing a popular toy is the same extent the bitcoin will never fail crowd are coming at the issue.
Governments around the world are looking at putting up walls or tearing them down when it comes to trade/relations and bitcoin could easily get snared in the process.
If bitcoin got banned one thing for sure to be happen is the fall of bitcoin price. People will leave bitcoin because if they still use it they will considered as a criminal since bitcoin is banned and not allowed to use it in their country. Though there'll be some people who still use it anyway.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
Also if in major countries bitcoin is banned it might affect to bitcoin popularity in around the world, because those countries have big roles in this world.
A ban on Bitcoin is difficult to enforce
Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down the internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions.
But of course it's also likely that a ban on Bitcoin in a country can have a negative effect on adoption in that country.
Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down the internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions.
But of course it's also likely that a ban on Bitcoin in a country can have a negative effect on adoption in that country.
Technically, sure, banning bitcoin would't have much of an affect, as it would basically be just them saying "your not allowed to". But at that point bitcoin users would become "black market" participants, and there could be a penalty if caught using owning/transacting coins. Yes that would involve open privacy violation but I wouldn't put that past them one bit, I can see bitcoin being the thing to push them past those limits. Most people avoid the black market, too much risk.
Actually bitcoin was created for this, to work ilegally and don't depend of laws because none can control it, the problem about baning is that you can't trade for fiat if you need, so you will have to find a way to spend your coins, a big mess btw...
A ban on Bitcoin is difficult to enforce
Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down the internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions.
But of course it's also likely that a ban on Bitcoin in a country can have a negative effect on adoption in that country.
Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect. If they shut down the internet, people will send each other Bitcoin via SMS and if they shut down the electricity supply, people will use solar and battery-powered solutions.
But of course it's also likely that a ban on Bitcoin in a country can have a negative effect on adoption in that country.
Technically, sure, banning bitcoin would't have much of an affect, as it would basically be just them saying "your not allowed to". But at that point bitcoin users would become "black market" participants, and there could be a penalty if caught using owning/transacting coins. Yes that would involve open privacy violation but I wouldn't put that past them one bit, I can see bitcoin being the thing to push them past those limits. Most people avoid the black market, too much risk.
Banning of bitcoin in famous countries? Well it's the silliest way because if famouse countries will block bitcoin, than that countries reputation will go from high to low because many people is using bitcoin and it has many users. So I think that all civilization country must accept it and if they prefer to don't accept it, it will cause their bad reputation and I think it's not good for normal countries.
Bitcoin is extremely hard to ban. The decentralised nature of Bitcoin allows users to connect to a variety of nodes to transmit and receive information. Due to the large number of nodes, the government will have an extremely hard time to ban the nodes. Even if the government were to try and use DPI, users can switch to stronger encryption methods and connect via VPN. Attempting to ban it will just push it further underground, making it hard to regulate.
Agree, these banning implementations would really force the people or bitcoin users to do underground transactions which would really make hard for them to trace even more. It would be really useless on this kind of idea , its better to adopt bitcoin than to ban it but well, governments on each country do really differ regarding on the insight of such thing like bitcoin. 
Bitcoin is extremely hard to ban. The decentralised nature of Bitcoin allows users to connect to a variety of nodes to transmit and receive information. Due to the large number of nodes, the government will have an extremely hard time to ban the nodes. Even if the government were to try and use DPI, users can switch to stronger encryption methods and connect via VPN. Attempting to ban it will just push it further underground, making it hard to regulate.
there is no reason for banning bitcoin. and even if there is chance only those extreme countries with a technically challenged government is going to consider banning bitcoin because of being scared of it. but other countries will continue treating bitcoin as a currency like Japan that announced it too.
besides people are going to continue using bitcoin no matter what the government says about it.
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.besides people are going to continue using bitcoin no matter what the government says about it.
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.
Look at this scenario, in a country, a lot of citizens trade the local currency for bitcoins, this will kill the fiat doing this and the government can't to nothing...
And with bitcoin is a lot more easily to keep your transactions anonymous, so the government have a point here...
In some country, bitcoins are banned, the legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently.
those countries are so few which shows that banning bitcoin is not really what countries are concerned with and besides banning bitcoin is not going to change anything since bitcoin can still be used since it is not centralized.
there is no reason for banning bitcoin. and even if there is chance only those extreme countries with a technically challenged government is going to consider banning bitcoin because of being scared of it. but other countries will continue treating bitcoin as a currency like Japan that announced it too.
besides people are going to continue using bitcoin no matter what the government says about it.
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.besides people are going to continue using bitcoin no matter what the government says about it.
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.
Look at this scenario, in a country, a lot of citizens trade the local currency for bitcoins, this will kill the fiat doing this and the government can't to nothing...
And with bitcoin is a lot more easily to keep your transactions anonymous, so the government have a point here...
In some country, bitcoins are banned, the legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently.
Jump to: