Topic: What happens when Bitcoins are illegalized in the whole world? (Read 6997 times)
I really doubt the government of major countries like the US, the UK, Germany, France, or other european countries would ban bitcoin, plus it would be hard without blocking ALL peers outside of their country, and that would pretty much make the government hated and destroy their internet, so I doubt they would.
There is HUGE market demand for a currency like bitcoin. This abstract force is beyond any government to stop, without destroying itself in the process.
And gosh, I sure do hope it tries.
There is HUGE market demand for a currency like bitcoin. This abstract force is beyond any government to stop, without destroying itself in the process.
What happens when Bittorrent is illegalized in the whole world?
Bittorrent is not a threat to the very source of the power of the economic elites of the world. Currency creation and manipulation is. So expect a 1 million times stronger reaction to something that puts their power in danger.
"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits (money out of thin air), and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create deposits (money out of thin air)." — SIR JOSIAH STAMP, (President of the Bank of England in the 1920's, the second richest man in Britain)
"Give me control of a nation's money and I care not who makes it's laws"— Mayer Amschel Bauer Rothschild
What happens when illegal drugs are illegalized in the whole world?
Plenty of drugs for the people is part of their agenda, in fact drugs keep the masses content and unconsious in their slavery. Google recent news on big global banks financing drug lords in mexico.
What happens when illegal drugs are illegalized in the whole world?
::)ppl still do them!
::)ppl still do them!
Precisely. It's like the Boston Tea Party in 1773. THAT was illegal as well. At some point people just say no, and if there are plenty of us we'll win. Bitcoins is Boston Tea Party part II. The only difference this time is that we throw the US dollar overboard 
I knew I would get my day to join them in spirit! Bitcoin - The new Boston Tea Party.
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Valuable topic. Thank you, Simme101 for starting this line of discussion. Worth thinking about carefully: e-Gold and Liberty Dollar started off with much enthusiasm, but they are no longer with us.
But e-Gold and Liberty Dollar were easy to attack. Everyone here knows the situation: They had physical locations and human presence, while Bitcoin is designed to avoid that.
Bitcoin looks more like Hawala. Hawala is either outright illegal or highly discouraged most every place that it exists. And yet it has endured for 1,200 years. May Bitcoin do so well!
Reference link: http://en.wikipedia.org/wiki/Hawala
Valuable topic. Thank you, Simme101 for starting this line of discussion. Worth thinking about carefully: e-Gold and Liberty Dollar started off with much enthusiasm, but they are no longer with us.
But e-Gold and Liberty Dollar were easy to attack. Everyone here knows the situation: They had physical locations and human presence, while Bitcoin is designed to avoid that.
Bitcoin looks more like Hawala. Hawala is either outright illegal or highly discouraged most every place that it exists. And yet it has endured for 1,200 years. May Bitcoin do so well!
Reference link: http://en.wikipedia.org/wiki/Hawala
The chief advantage of bitcoin is its resistance to inflation and the lack of centralized control. If governments want to compete with bitcoin on those fronts, they will need to stop being governments.
this thread may be approaching the matter from the wrong direction.
has it occurred to anybody that probably the most effective way to stop Bitcoin would be to end cash?
governments hate it anyway - printing the stuff is a huge loss. it fosters hidden income, and untaxed transactions. and the electronic payment systems (visa, etc.) already in place could easily handle the extra workload.
what happens to something like Bitcoin if governments phase out cash, and decree pay-by-wave, phone-to-phone and bank cards? maybe keeping coinage for gum machines and laundromats. that strikes me as a much more likely scenario. instead of being issued a social security number at birth (like in the US today), you are issued a bank card number.
in a case like that, all the advantages of Bitcoin would go away unless merchants were actually willing to accept raw (i.e., non-exchanged) Bitcoin. which at that point would be unlikely, no?
has it occurred to anybody that probably the most effective way to stop Bitcoin would be to end cash?
governments hate it anyway - printing the stuff is a huge loss. it fosters hidden income, and untaxed transactions. and the electronic payment systems (visa, etc.) already in place could easily handle the extra workload.
what happens to something like Bitcoin if governments phase out cash, and decree pay-by-wave, phone-to-phone and bank cards? maybe keeping coinage for gum machines and laundromats. that strikes me as a much more likely scenario. instead of being issued a social security number at birth (like in the US today), you are issued a bank card number.
in a case like that, all the advantages of Bitcoin would go away unless merchants were actually willing to accept raw (i.e., non-exchanged) Bitcoin. which at that point would be unlikely, no?
If that happens, we will transfer them using short wave radio! 
If bitcoins became illegal I'd just move my stash over seas and wait it out. With bitcoin, moving it around is really easy.
OK so a lot of people think that if bitcoins become criminalized they will drop in value.
An interesting theory, however.. can you think of any other good or service that drops in value post-criminalization?
Ok, someone has to say it: the word is "criminalized" not "illegalized".
...I have no intent in doing anything illegal.
Why not?
Precisely. It's like the Boston Tea Party in 1773. THAT was illegal as well. At some point people just say no, and if there are plenty of us we'll win. Bitcoins is Boston Tea Party part II. The only difference this time is that we throw the US dollar overboard
Im know im rehashing the same old ideas, but bitcoin will never
be shut down even if the US criminalizes it and starts prosecuting users
as long as a copy of the source is available people will use it.
The only real threat in my opinion to bitcoin is if the
US or another government decides to drop billions of dollars of buying
enough computing power to take over the network, but then sowhat?
we can always start another.
be shut down even if the US criminalizes it and starts prosecuting users
as long as a copy of the source is available people will use it.
The only real threat in my opinion to bitcoin is if the
US or another government decides to drop billions of dollars of buying
enough computing power to take over the network, but then sowhat?
we can always start another.
Laws are nothing but the opinions of violent people backed up by violent threats. Most of them ought to be broken as often as possible. Especially since most of them are about preserving the power of those violent people, and with it, their ability to literally get away with mass murder, theft, and fraud.
You're right you don't have to do illegal things if you are anti-establishment. But if you don't, you're not very consistent.
You're right you don't have to do illegal things if you are anti-establishment. But if you don't, you're not very consistent.
...I have no intent in doing anything illegal.
Why not?
You don't have to do stuff that's illegal just because you are anti-establishment. I have no intention of skirting the law with Botcoin, because I generally don't feel that the law stops me from doing anything I want to do (and in particular, I feel taxes are OK)
...I have no intent in doing anything illegal.
Why not?
Bitcoin is dangerous for every state in existence today . So i'm certain at some point soon there will be steps taken against it.
Possible scenarios : People chicken out and quit using Bitcoins
People don't chicken out and fight back ... this can be either finding holes in the legislation , going underground , and/or even terrorism.
And from what i saw so far people that are using Bitcoins mostly aren't speculators , they are people that really think bitcoins are a way to acquire freedom. Sure bitcoins brings a lot of "dangers" to society today , like paying taxes if you want to pay , like paying anonymously for drugs , sex , guns , murder , cloning , etc. States should start to reevaluate their way of doing business . Bitcoins will bring times when people won't afford to remain ignorant to politics or company/individual behavior and that is a great thing.
Possible scenarios : People chicken out and quit using Bitcoins
People don't chicken out and fight back ... this can be either finding holes in the legislation , going underground , and/or even terrorism.
And from what i saw so far people that are using Bitcoins mostly aren't speculators , they are people that really think bitcoins are a way to acquire freedom. Sure bitcoins brings a lot of "dangers" to society today , like paying taxes if you want to pay , like paying anonymously for drugs , sex , guns , murder , cloning , etc. States should start to reevaluate their way of doing business . Bitcoins will bring times when people won't afford to remain ignorant to politics or company/individual behavior and that is a great thing.
Another "illegal" strawman troll I see .... what's that about the fifth one today?
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