Topic: Lets say they try to make bitcoin illegal - page 2. (Read 3779 times)

Do not use bank's

I agree with every sentence except the last one. I think the best thing for governments to do would be to accept Bitcoin and even encourage its growth. But I also think governments have a track record of not making sensible decisions.

It fucks with the status quo, of course it is illegal by nature

Would justification would they give to ban bitcoins in the mature and democratic countries?

Money Laundring? Well then ban banks as well because billions are laundered through them. Remember all those articles about how the biggest provider of liquidity in 2008 was the mafia?

Drugs? etc, Ban cash too then.

Moreover, if they tried baning bitcoins it would be seen as an unreasonable, even unacceptable, restriction of freedom by everyone from journalists to all sorts of think tanks and economists. Many would convincingly argue that it would hurt the economy etc.

So it is never going to happen.

If it does, then bitcoins would go underground. It would probably still be used to buy drugs but also for more seriously criminal stuff. It is after all a very fast, anonymous, safe, way to transfer wealth. So I think the price would crash as the news comes through, but then it would slowly recover as many people simply ignore the law as with copyrighted sharing, start selling it in a one to many platform rather than many to many as in exchanges. Then, as it would become harder to get because many want it, especially the black market, the price would go up and up to the point where honest people might even be willing to risk prison to have one.

And that would be the best argument in my opinion against making it illegal. First, it would hurt the economy quite badly as innovation is being stopped, thus the economy would not become more efficient. Secondly, it would take the benefits of this innovation and efficiency away from honest hard working people and drive it underground, because it certainly is not going to make it vanish.

For those reasons, I do not think the government can or will ban bitcoins or overtly interfere with its development. 

Good point. It will never be allowed to be a threat to the current regime's fiat, unless they find themselves unable to stop it, however unlikely that may be.

I think I agree with this. Everything is about money, sad but true. That said, there will be plenty of FUD media from the interests that stand to lose money. Ultimately the internet is beyond most governments' control, therefore bitcoin is.

Will be too good to be true, if they let bitcoin grow and grow.
I also think a war is about to come down on us ;( Time will tell the outcome

Realism. They destroyed countries who threatened to us dollar. Killed their leaders.

So you think they just pass it inside and welcome? Haha. Its a trap.

the old system banksters are noticing that there is a lot of money to make with/via/on/through bitcoins. that is what they live for, that is their reason to exist. so they will adopt it. use it. milk it. but they will not make it illegal. there is too much money in the game.

So native... fincen passed guidance for bitcoin exchanges, not bitcoin itself. They just can't regulate bitcoin itself, so eventually it will be declared illegal imho.

There will be no adoption. There will be war when they figure out what bitcoin really is.

I see increasing regulation on exchanges, not regulation of Bitcoins itself. Otherwise, they may as well try to regulate Magic the Gathering card trade considering it (literally) was traded for fiat like Bitcoins.

We're probably safe right now. After the next Bilderberger meeting you never know.

Interests of US and other developed countries elites are pretty much same. If they find it as threat to themselves and US elite do their work to make bitcoin illegal you can bet most of developed countries will do the same.

Not sure they'll attack in full mode though but they might step in to take a bigger piece of taxes on bitcoin money.

Fuck yeah
http://www.youtube.com/watch?v=3L4YrGaR8E4

Actually, bitcoin is not illegal. FinCEN even passed guidance suggesting adoption would be accepted, but regulated. I'm not sure where you are getting your information, but you need a new source 

I don't really see the illegality. Unless you mean illegal in nature as in laws can't affect it still being used?

Bitcoin is anonymous and resistant to any kind of regulation by design.

It is illegal by nature.

I would go on using bitcoin to buy and sell things. I bet the price would stabilize, which many see as a plus.

The United States might enact policies to give bitcoin some difficulties, but fortunately, it is not the international police, at least for developed countries. I don't think the entire world will attack bitcoin.