Topic: If bitcoin gets banned in a country, does altcoins get banned along with it? - page 4. (Read 424 times)
January 28, 2018, 06:12:00 AM
Bitcoin and Altcoins they are the same cryptocurrency, If Bitcoin will be banned in a certain country, definitely altcoins will be banned too. The reason why any government banning Cryptocurrency is because of being decentralized of these aprticular currency. by that, they has no power to control it. to be able to Regulate Bitcoin, they has to banned Bitcoin in their country, and issuing a regulatory law. Government is well known as a regulator for what so ever in their country. So.. yes, altcoins will get banned along with bitcoin.
January 28, 2018, 05:05:02 AM
Of course all other cryptos will be banned follow by bitcoin. Special attention will be looked to the anonymous crypto like monero.
But this is not exit, peoples find other ways to stealth traffic and continue use the crypto, somebody change country for live
But this is not exit, peoples find other ways to stealth traffic and continue use the crypto, somebody change country for live
January 28, 2018, 04:56:02 AM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
It is very regrettable to tell you that, yes, if a country forbids bitcoin, it means that this country can not accept digitally encrypted currency, bitcoin-related or similar coins will be banned, which is not spared, I hope not there is such a thing happening. January 28, 2018, 04:48:26 AM
I believe it's a yes!
If one goes down, then similar others will follow. After all, they have the same specs just different values and names.
Let's just hope for the best though
If one goes down, then similar others will follow. After all, they have the same specs just different values and names.
Let's just hope for the best though
January 28, 2018, 03:39:46 AM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
of course, the government of that country that ban bitcoin means they banned a something called cryptocurrencies like bitcoin and its fork or else which is related with it.
so what is the purpose of banning bitcoin meanwhile the alts still allowed ? i mean, every alts always related with bitcoin.
Yes i think its true. Bitcoin is related with altcoin as cryptocurrency.
Ban bitcoin, altcoin will go together with that.
I hope no more country misunderstand about this and no more country ban bitcoin because bitcoin is very important in financial technology.
January 28, 2018, 03:30:19 AM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
If bitcoin is banned in some countries, co-altcoin is also prohibited in that country. Altcoin is a common name for cryptocurrency other than Bitcoin. Altcoin was born after the success of Bitcoin in 2009. In short, Altcoin is an alternative to Bitcoin as it improves and addresses the bugs in Bitcoin's protocol. This is the currency created for the purpose of replacing Bitcoin. 
January 28, 2018, 03:28:50 AM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
Probably yes. All cryptocurrencies are related. So if legal regulations are introduced, all currencies will apply.
January 28, 2018, 03:23:18 AM
It depends on how the law or official statement is worded.
When it contains only the word bitcoin, then only bitcoin is banned.
But I assume that will rather not be the case because it would not make much sense for a government to only bann bitcoin and not the alts as well.
The formulation will be held in a way that it includes all privately founded crypto currencies.
When it contains only the word bitcoin, then only bitcoin is banned.
But I assume that will rather not be the case because it would not make much sense for a government to only bann bitcoin and not the alts as well.
The formulation will be held in a way that it includes all privately founded crypto currencies.
January 28, 2018, 03:09:44 AM
I think so. Bitcoin is the cryptocurrency.
Altcoins is also a cryptocurrency.
If bitcoin is banned.
So all altcoins are prohibited from gailv.
Altcoins is also a cryptocurrency.
If bitcoin is banned.
So all altcoins are prohibited from gailv.
January 28, 2018, 02:53:48 AM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
Definitely, it's like the total prohibition of anything cryptocurrency related. A national extermination
and interdiction of the whole digital money concept. Closing all possibilities that might relate or
reach out with this financial innovation. I believe nations opposing to bitcoin hasn't truly grasp the
positive potential cryptocurrency can offer, it's gonna take some time to convince some of them.
But inevitably they will be utilized, circulated and probably regulated at some point in the future.
January 27, 2018, 06:57:22 PM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
Yes, definitely all cryptos will be banned. Bitcoin will represents the whole cryptocurrencies because it the popular coin. Most common people they know only bitcoin. Banning bitcoin will defitely banned all altcoins. No exemption. 
January 27, 2018, 06:40:43 PM
Bitcoin is a cryptocurrency - it's just most known and usable. If you buy this one, then there is no logic to make ethereum, litecoin and etc legit one, banning of one coin and especially bitcoin means banning of whole crypto currencies. Otherwise it will be very strange, if you ban btc, why won't you ban monero too?
People just usually use word bitcoin when they talk about crypto.
People just usually use word bitcoin when they talk about crypto.
Yes, it's automatic, if bitcoin is banned then altcoin will be the same thing. Bitcoin and altcoin are cryptocurrency. You are right, some people call bitcoin when discussing cryptocurrency, that's generalization.
January 27, 2018, 06:33:26 PM
I dont think any country is going to outright ban Bitcoin in the foreseeable future. And if they do, it will probably be a ban on all cryptocurrencies, not just BTC (and the country will probably release its own coin and force it down the people throat)
January 27, 2018, 06:31:29 PM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
Yes. If a government announces that Bitcoin has been banned, it means that all the other altcoins are also banned. 
January 27, 2018, 06:27:14 PM
in economy if there is not gold (the reserve for any currency) the government can`t print money so it is same with crypto world btc being the reserve of any other coin and if it gets banned there wouldn`t be any alts left as well.
January 27, 2018, 06:17:53 PM
I think, the others will follow because its function is not much different from bitcoin
January 27, 2018, 05:10:07 PM
Bitcoin is a cryptocurrency - it's just most known and usable. If you buy this one, then there is no logic to make ethereum, litecoin and etc legit one, banning of one coin and especially bitcoin means banning of whole crypto currencies. Otherwise it will be very strange, if you ban btc, why won't you ban monero too?
People just usually use word bitcoin when they talk about crypto.
People just usually use word bitcoin when they talk about crypto.
January 27, 2018, 05:05:56 PM
Yes.
Quotes from the Wikipedia article Legality of Bitcoin by country or territory.
Ecuador - "The Ecuadorian government has issued a ban on bitcoin and other digital currencies."
Algeria - "The purchase, sale, use, and holding of so-called virtual currency is prohibited."
Bolivia - "The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone"
Kyrgyzstan - "the National Bank of the Kyrgyz Republic made clear that "the use of 'virtual currency', bitcoins, in particular..."
Bangladesh - "Bangladesh Bank said that "anybody caught using the virtual currency could be jailed..."
Nepal - "Nepal Rastra Bank declared bitcoin as illegal."
It appears Nepal is the exception here, although in the reference it says "As Bitcoin isn’t attached to a state or government and doesn’t have a central issuing authority or regulatory body...", so i'd be surprised if alts didn't get the same treatment.
Quotes from the Wikipedia article Legality of Bitcoin by country or territory.
Ecuador - "The Ecuadorian government has issued a ban on bitcoin and other digital currencies."
Algeria - "The purchase, sale, use, and holding of so-called virtual currency is prohibited."
Bolivia - "The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone"
Kyrgyzstan - "the National Bank of the Kyrgyz Republic made clear that "the use of 'virtual currency', bitcoins, in particular..."
Bangladesh - "Bangladesh Bank said that "anybody caught using the virtual currency could be jailed..."
Nepal - "Nepal Rastra Bank declared bitcoin as illegal."
It appears Nepal is the exception here, although in the reference it says "As Bitcoin isn’t attached to a state or government and doesn’t have a central issuing authority or regulatory body...", so i'd be surprised if alts didn't get the same treatment.
January 27, 2018, 05:01:13 PM
Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?
It would imply that all the other kinds of cryptos would be banned at the same time as Bitcoin since there would be nothing to really trade a majority of the altcoins with, aside from a select few like XRP, ETH and BCH depending on what exchange you're using. But to keep it simple and short there is a good chance that a majority of the altcoins would be banned unless explicitly stated that they aren't, and banning Bitcoin would just be used as a catch-all term for banning all cryptos. Not too hard to understand but it can be a bit confusing if you're not familiar with how governments work and what they propagate on media outlets. January 27, 2018, 04:53:19 PM
When most of us say bitcoin, well it is meant for cryptocurrency in general. But we use term bitcoin simply because many people are more familliar with term and because its the number one. Its like when you say USD or EURO instead of calling these currencies - "fiat currency".
ICOs are whole another topic than just being simple altcoin. Problem is that you are raising money globally without 3rd party in between and because of pseudo anon nature of ether. btc... we see few scams here and there. On the other hand they can not do anything to protect their investors if ICO startup fails to fulfill it's promises or they simply might be looking from the distance at current situation and are trying to evaluate thing better.
Very likely. Though it's more likely for them to go after alts first before banning bitcoins. China for example has placed restrictions on ICOs first. There was no outright bitcoin ban but that'll possibly come later once they've done creating their own digital fiat.
ICOs are whole another topic than just being simple altcoin. Problem is that you are raising money globally without 3rd party in between and because of pseudo anon nature of ether. btc... we see few scams here and there. On the other hand they can not do anything to protect their investors if ICO startup fails to fulfill it's promises or they simply might be looking from the distance at current situation and are trying to evaluate thing better.
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