What if all the governments of the country united to strictly prohibit the exist

The_Dark_Knight

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Quote from: weiweianll on June 08, 2018, 02:56:07 AM

The BTC system is alive in the online world. Unless all countries in the world have closed the network, the BTC system cannot be closed! Closing the Internet all over the world has serious consequences.
So technically blocked BTC!

We should not underestimate governments it is true that the only way they have now to block bitcoin traffic will be to block the whole Internet and that is not a real possibility but at the same time, what if they find a way to distinguish bitcoin traffic from your regular traffic, in that case they will have an effective way to block bitcoin and still leave the internet intact.

BeGoods

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Quote from: lekegami on June 07, 2018, 03:14:57 PM

banning bitcoin is not possible if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin.

But although it can not stop bitcoin completely but the effect of the prohibition and regulation of a country is very large on the crypto market, especially if the whole country is united to ban the existence of bitcoin, of course it will shake the market crypto and bitcoin, I can not imagine what will happen if that's true..

Persiville

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Quote from: evilgreed on June 08, 2018, 03:54:18 AM

Quote from: rocketbits on June 08, 2018, 03:19:36 AM

Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

If the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.

Obviously if that will be happening, they will use all their means to prevent us from using crypto all over the world, aside from that, since they cannot control this kind of economy and cannot get their hands into it, instead they will use those resources that are within their control in order to go against the users of crypto. That is how i see the country when all of the government members will be against crypto.

You have a point, and to be honest they cannot really get their hands into crypto because of its decentralization, but instead they will use something they have in order to keep the users off the crypto, for example is by using their law to prohibit crypto in a certain country. In my opinion some companies are already having an idea about blockchain technology, but still they are waiting for some hints to when it is time to use it, because as usual their company will be at stake if they make the wrong decision.

yahamidu

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Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

I think it's very difficult to get the whole world out of bitcoin, because bitcoin is the first truly excellent digital currency and profoundly affect the financial. Bitcoin is the future technology. No one can refuse the technology.

crypto_futurer

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Even if all countries unite and try to prohibit the crypto currency, they will not get it anyway, because the crypto currency has already penetrated our world! Progress can not be stopped and the government, in my opinion, should not hamper the development of the crypto currency.

evilgreed

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Quote from: rocketbits on June 08, 2018, 03:19:36 AM

Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

If the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.

Obviously if that will be happening, they will use all their means to prevent us from using crypto all over the world, aside from that, since they cannot control this kind of economy and cannot get their hands into it, instead they will use those resources that are within their control in order to go against the users of crypto. That is how i see the country when all of the government members will be against crypto.

rocketbits

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Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

If the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.

weiweianll

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The BTC system is alive in the online world. Unless all countries in the world have closed the network, the BTC system cannot be closed! Closing the Internet all over the world has serious consequences.
So technically blocked BTC!

The_Dark_Knight

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Quote from: ?? on ??

The value of bitcoin is that it doesn't require any government recognition.

If governments were to block bitcoin, it would have no current level of value, but it would still have a value.

Governments can ban bitcoin but there is a big difference between a ban and to block bitcoin completely, they can ban bitcoin by just some voting and a stroke of a pen, but to block bitcoin they will have to develop a way to block bitcoin specifically, they will have to begin to destroy nodes all over the world and maybe even taking measures against bitcoin holders and this is a lot harder than it sounds.

andrei56

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Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

They do not have the power to do so, the only way to affect the bitcoin network is by shutting down the whole internet and if governments around the world did that there will be an outcry from a significant portion of the population of the world that are very dependent in it, in fact I do not know if governments could really shut down the internet since that would mean shutting their communication channels as well.

lekegami

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banning bitcoin is not possible if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin.

jubings

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I would keep each and every single last bit of it and fight. I'm also dead certain that are many others who would do the same and by such a time for crypto, alot more people would be using it by then. If government is smart they would not choose this route tbh

ausbit

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Quote from: 777Jolami on May 16, 2018, 01:00:17 AM

Quote from: Freddie Aguiluz on May 13, 2018, 12:35:46 AM

Quote from: fatirborju on May 06, 2018, 07:52:53 AM

I think it is very difficult to make the whole world ban bitcoin, because bitcoin is the first very good digital currency and greatly affect the economy of a country, and if that happens then I will quickly exchange all my bitcoin coins with FLAT money ...

I agree. And if all country agreed to ban crypto currencies but a lot of people depends on it, it will be a big problem to the institute and it will also be the problem if the government. The government depends on the people on what they will do for their country, now if their country wants cryptocurrency then they wont have any choice

But I for example BTC is banned by the government, in my opinion BTC can still exist. Despite the low price, BTC is still traded in decentralized places. Not to be traded in the current concentration. But that is just an example, in fact the BTC is now accepted by many countries not easy to collapse.

What most people do not understand is that, we simply do not need the government to make a decision and we can still end up trading our thing, utilizing it as long as we see the value it brings as a currency and that is one thing with decentralization that the government can simply not take away.

Also, so many countries are already regulating it and that is simply affecting their economy growth in a good way, for instance Japan and if all other countries start seeing this, they will simply want to take the same step, most especially the underdeveloped nations.

yuukireit

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i think that could be hard for them to doing that, and if they are really going to crush that matter it can crush them self too, because a lot of people right now are very like the kind of the freedom and when they know their freedom wana gone, this matter can hit back the goverment it self

redsun114

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Quote from: rat03gopoh on May 14, 2018, 06:42:24 AM

I'm not sure all the crypto money owners will just let their coins go, maybe there will be a black market crypto if this really happens.

No need for a black market. The fact is just like any other person already said; this is something that will not happen. Every country has their own system of governance and they cannot just impose anything on anyone just like some will want to do, due to their democratic system of governance.

As long as this is in play, all countries can simply not come together in one accord to let this simply play out and moreover, on what basis are they going to want to do something this outrageous.

Sengoko

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Quote from: Mpamaegbu on May 11, 2018, 10:39:02 AM

Quote from: Fatimah Azzahra on May 06, 2018, 03:16:13 AM

...there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

This Is Never Going to Happen

Human beings are heterogeneous in perspectives and that is why there are always disagreements and wars because of failed compromises. Whoever thoughy this is merely joking. How is it going to be possible for all to agree to ban a thing as huge as cryptocurrency? Nah! This isn't going to ever happen. By the way, did we follow what happened at the recently concluded G20 summit which had in Argentina? Did we notice how divided the member countries were on the issue of cryptocurrency with many siding with the cryptocurrency stuff? So, OP don't panic. It won't happen.

Thanks for bringing that up bro. That alone shows that each country will end up having their own perspective and will simply be making their own policies. Good we do not have a general global policy that will end up affecting each country directly and good thing they are all independent of each other, at least those that are! There is no point actually trying to think of something that in the real sense, the chances of it happening is zero to none.

cluit

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Quote from: 1Referee on May 11, 2018, 10:06:35 AM

Quote from: el kaka22 on May 11, 2018, 09:21:46 AM

There would still be a lot of countries that would see benefit in all these, looking at Australia, Japan, Malta, and so on, which to me would be a hard thing to achieve.

That's also a form of 'decentralization'. Cheesy

In all seriousness, it feels great to know that one country isn't the other when it comes to being open minded towards new emerging technologies. On the other hand, I am sure that when Japan has been booking consistent GDP growth through Bitcoin alone, other countries will follow. It's impossible for any well thinking government to ignore that.

Seriously, not allowing crypto currencies to develop in your country does more damage than allowing them to develop. If we take into consideration that it is a perfect hedge as well for governments, then they are even more stupid. In case the regular economy implodes due to their shitty fiat system, which is quite realistic to happen, they won't be hit as hard with crypto offering an alternative form of growth. Japan is smart, very smart. I'm looking forward to their GDP statistics for 2018.

Yeah mate! They are of course pretty smart and from the way tones are gradually changing in some of the countries that have been trying to prove their level of autocracy over the space, I am sure they are beginning to see how stupid they have been just like you said, while seeing the way things are gradually going for the countries that are accepting it, regulating it and allowing the space to evolve.

Talking about Laggards, that is what most of those dumb governments will eventually turn their countries into and miss out badly. That would be a huge shame on them!

tuikindu01

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I don't think that's going to happen, because all the countries in the world are not going to agree on bitcoin, because some countries have recognized bitcoin's legal status.

squog

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If that should ever happen, and i doubt it will, then there is no other choice than to cash out and invest it on something else. Then again, i don't think the whole world would ban crytpo currency just because they feel nostalgic about their paper money. If every they bann crypto currency in my country then i have to say good by to my birth land and move someplace else.

marsmyname

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Quote from: neliawesome on June 02, 2018, 03:36:21 AM

If all countries will totally banned bitcoin before it will be implemented ill make sure I sold all my btc.But it doesnt happened that easily totally banning bitcoin in all countries because in every country they have different perception in bitcoin.

Not only you will sell out all of your BTCs, the companies and every single person that is having BTCs will sell them out because at that time, BTCs will be of no use and it’s a universal law or reality you can say that when we see something of no use to us, we simply throw it out because it’s just a burden for us at that time and BTCs would be a burden for the people at that time.

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