Topic: What if all the governments of the country united to strictly prohibit the exist - page 4. (Read 745 times)
May 18, 2018, 08:35:21 AM
Hope that will not happen in the futre, but if government suddenly prohibits the use of bitcoin, i will sadly sell them in to exchnager to earn atleast some profit, lets just follow the rules and go with the flow.
May 18, 2018, 08:19:11 AM
If it really happened, then it is the doomsday for the Cryptocurrency players! because All countries have united banned, continue to where to go Bitcoin. I think Bitcoin will die, And people who have a lot of assets in Bitcoin, Will crying lamenting his fate, because assets worth hundreds of millions just disappear.
May 18, 2018, 07:32:20 AM
You can't really prohibit usage of a decentralized network, the whole thing about it is that the nodes can run the network without the need of a centralized unit.
Governments can decide that they are no longer going to allow fiat-transactions that are related to bitcoin, but they cant actually block the on chain bitcoin transactions.
Governments can decide that they are no longer going to allow fiat-transactions that are related to bitcoin, but they cant actually block the on chain bitcoin transactions.
May 18, 2018, 03:40:13 AM
there is no reason for the government to ban bitcoin. should they not ban but make rules !
May 18, 2018, 03:10:41 AM
I am pretty sure that this day wont come as its the government's money that will be locked in into the Bitcoin. (In the form of Taxes)
But lets consider if they really do that then this could turn the whole world into chaos. There is more than 400 billion stuck into the crypto currencies and mega companies have also started using the crypto currency. This means it could hamper the world economy badly leaving the panic among the people.
So for that not to happen government will give some chance for us to cash out everything that we have in the crypto currency and then the prices for the coins will become zero. The one who cash out first will benefit and others will go on loosing as the prices drop.
This is something thats gonna happen surely.
But lets consider if they really do that then this could turn the whole world into chaos. There is more than 400 billion stuck into the crypto currencies and mega companies have also started using the crypto currency. This means it could hamper the world economy badly leaving the panic among the people.
So for that not to happen government will give some chance for us to cash out everything that we have in the crypto currency and then the prices for the coins will become zero. The one who cash out first will benefit and others will go on loosing as the prices drop.
This is something thats gonna happen surely.
May 18, 2018, 02:45:06 AM
I do not think that there is enough reason to why all countries should ban cryptocurrencies - they are the future of traditional fiat in this digitalized world we are on. A huge percentage of pople who think crypto should be banned are clearly have no adequate knowledge about its importance and how it can revolutionize money as we know it.
Cryptocurrencies especially bitcoin have far lot greater potential and benefit.
Cryptocurrencies especially bitcoin have far lot greater potential and benefit.
May 16, 2018, 01:00:17 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
May 15, 2018, 01:23:55 PM
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.
Unfortunately, in that case there is nothing you will be able to do about it as you may not even see an exchange to make use of and you could as well just be bag holding your bitcoin hoping that one day, you may as well just get to spend it again. 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.
Nevertheless, no need worrying about situations like this as I do not see in any way where the whole government all over the world will deliberately gang up against bitcoin to make it nonexistent. Most especially, there is nothing to hold against it even if it becomes a threat to fiat and worst that can happen is strict regulation which still does not affect anything much.
May 15, 2018, 12:11:06 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 that scenario that is already happening, governments are looking at the possibility that bitcoin becomes really big and if that happens we cannot expect that they stay silent, they are going to take steps in order to try to neutralize the threat that bitcoin represents to them, but if we are perfectly honest with ourselves we will find that it will be possible for them to completely stop bitcoin and they know it. 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.
May 14, 2018, 07:46:04 PM
This scenario is far from reality to happen since we have heard in the news that some countries like Japan regulated already the use of bitcoin. If this happens, this will create dispute between the benefit that bitcoin provides to people and the fight of the state with regards to fiat. Fiat money will never die, especially in third world countries where facilities like internet and computers are not available in all places. Anything can be arrange accordingly and should not end like this.
May 14, 2018, 06:48:08 PM
This is far from happening since we have already observed that some governments agreed to implement the use of Cryptos.
In the real sence, they could also benefit from it, they just have to figure out how and in a fairly way too.
It is either they abuse it and people are the one rallying for it or people are abusing it and government will try to fight it.
I know that the legalization of bitcoins in countries are temporary and may change from time to time but never ban it all at the same time. Many are interested and will always be interested in Cryptos. Not to mention the greedy users. They will not stop until they get rich.
In the real sence, they could also benefit from it, they just have to figure out how and in a fairly way too.
It is either they abuse it and people are the one rallying for it or people are abusing it and government will try to fight it.
I know that the legalization of bitcoins in countries are temporary and may change from time to time but never ban it all at the same time. Many are interested and will always be interested in Cryptos. Not to mention the greedy users. They will not stop until they get rich.
May 14, 2018, 06:50:04 AM
It is difficult for bitcoin to become an international currency because not all countries accept bitcoin. Every country has it's own currency issued by the goverment and bitcoin before you can use it offline you need to exchange it first into a fiat money,so i think there is no problem about it. Unless the government has a full control over bitcoin.
May 14, 2018, 06:10:00 AM
Bitcoin could not be banned universally by all countries at the same time.
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.
May 14, 2018, 06:35:00 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 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 believe that bitcoins will be recognized by other countries as well and they will use it for their own economy to improve just like what japan today is doing about cryptocurrency.
May 14, 2018, 05:55:20 AM
The OP's idea will never happen, crypto currency cannot replace each countries fiat there will be a big problem to this. Come to think of it again and think what will be the effect if this thought will happen.
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May 14, 2018, 04:53:55 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 ...
Yes, Bitcoin is so difficult to ban all over the world because many people are now patronizing it and many people are so happy for bitcoin comes in their/our lives it given us people a good income compare to work in a regular job but if ever it will happen just like you and to others I will convert/exchange it to FIAt/local money.government's punishment so by that the blockchain will still have transaction, the miners still there even if the hash power will running down drastically.
May 14, 2018, 04:43:33 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 ...
Yes, Bitcoin is so difficult to ban all over the world because many people are now patronizing it and many people are so happy for bitcoin comes in their/our lives it given us people a good income compare to work in a regular job but if ever it will happen just like you and to others I will convert/exchange it to FIAt/local money. May 13, 2018, 11:29:05 PM
The result will be 0 value bitcoin , All opf the holders will immidiately sell their bitcoin .rememebr tha bitcoin's value depends on the number of the holder's bitcoin . Although this queation makes sense because bitcoin is being used as a secret money of some person , still it will be very hard to abolish or stop bitcoin . If ever they will abolished it , it will result in many discussion as bitcoin not only as a currency buit also provides work on many people . Large INVESTOR WILL BE THEIR ENEMY AND IT WILL BE REALLY HARD FOR ONE country to fight large investor, because the economy of the country depends on those large investor , they might pull out their investment in certain country , so it will be very long discussion
May 13, 2018, 10:38:49 PM
Bitcoin network can't just be closed. As long as there are nodes on the network that are still operating, bitcoin will still be alive and well, and serve its purpose. Unlike previous anonymous payment processors, bitcoin doesn't have a central point of attack or failure. Governments around the world can't simply shut down the network, like they did to Liberty Reserve.
It'll be unlikely for governments to actually ban bitcoins, let alone for the entire world to ban bitcoins and for the governments to form an alliance on this matter. I think the scenario would be next to impossible.
It would definitely have negative impacts on BTC, no doubt. But I would not be surprised to see if there would still be a lot of people using it as a currency. After all, governments can't shut down the bitcoin network itself.
This is precisely why bitcoin is so difficult to destroy, governments will need to ban bitcoin all at the same time and try to destroy all the nodes all over the world at the same time as well and even if a single node was kept alive that will be enough to avoid the destruction of bitcoin and I'm sure that the community will respond by creating thousands of nodes in a few days. It'll be unlikely for governments to actually ban bitcoins, let alone for the entire world to ban bitcoins and for the governments to form an alliance on this matter. I think the scenario would be next to impossible.
It would definitely have negative impacts on BTC, no doubt. But I would not be surprised to see if there would still be a lot of people using it as a currency. After all, governments can't shut down the bitcoin network itself.
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