What If Bitcoin is banned? - page 16.

Btcvilla

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Quote from: lady Royal on September 05, 2017, 04:52:08 PM

What If Bitcoin is banned in your country will you still use it?

If you use it how will you? How will you exchange it and how will you completely use it as you do before.

I think banning bitcoin in a country is not easy. the state also has procedures and processes to decide illegally on something. such as bitcoin. I think what happens in China is the effect of the reports of people harmed from the deceptive ico.

Qastessa

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Quote from: Ilikechineseefood on September 08, 2017, 07:52:48 AM

Bitcoin will be unstoppable these are experts words. Maybe a few countries will block it. But stopping it.... no i think not.

Yes the site can be banned and in bitcoin there are a lot of sites not only one. So! Banning bitcoin is not going to happen suppose if it is going to happen than only a few countries will do this not everyone because it is impossible to do so because it is the digital currency and people will search for some other source to use bitcoin and they will use till the end of the world and it can never be banned.

rb26

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Quote from: lady Royal on September 05, 2017, 04:52:08 PM

What If Bitcoin is banned in your country will you still use it?

If you use it how will you? How will you exchange it and how will you completely use it as you do before.

If ever Bitcoin gets banned in my country, then I will still continue earning some Bitcoins. Regardless even I cannot exchange it to fiat. I will continue to earn and hold and I will wait for the banning become over. That way, I can exchange huge amount of Bitcoins to fiat. That would be worth the wait.

Cereberus

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The tools are there for you to bypass any ban by any government regarding bitcoin. Only if your government becomes picky enough to ask you where did you get every fund transfer from in your bank account , then it will be a bit of a problem but nothing that can't be bypassed too. There is no real way for any government to "really ban" bitcoin as long as there will be TOR browser, TAILS operating system, and any good VPN out there.

jak3

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honestly, that does not make any sense, firstly why will and how will government ban something which is not his and secondly what if I still use it how will government will know that I am using it. they can not track everyone in the world even if they have everyone's data. in addition to that what would you do if I tell you the government is also using Bitcoin so why do they want you to stop using btc when they are not stopping.

irmasany

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in my country there is no prohibition to engage in bitcoin.
but if one day there is a ban for bitcoin.
I make sure I will continue to be involved in bitcoin. although the government forbade it.
I think there is no law for this yet.

Dudeperfect

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Yes, even if Bitcoin is banned then I would still use it because officially ban will be on the conversion of the Bitcoins into the fiat currencies so if there is any option for me to spend my Bitcoins without converting it into any other currency legally then I wouldn't hesitate to continue using Bitcoins. However, I see very rare chances of any such incident for normal activities and even at this stage, using Bitcoins (or any other crypto or fiat currency) for illegal activities is banned.

Sasuke102001

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That would be a drag but it is not happening that soon but if it happens we gotta find a way to convert those bitcoins into something useful or else all the hard work will go futile

Skieleton

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The country would have to block access to the internet. As if this happened, I would sell everything I have in BTC.

stompix

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Blackjack.fun

Let's assume it will be "banned".
And not "chinese ban" but "us ban".

What kind of ban will that be:
- not allow to exchange BTC to cash
- not allow to transfer BTC
- outlaw the possession of BTC ?

I can live with the first.

But with the second ones it comes to one single thing.
What will be the punishment? Simply a ticket and a citation and you get away with a 100$ fine?
Still I would risk it to use it.

Will the "ban" come with a 2 to 5 years prison time?
Well, they bye bye and no way I'm touching it again.

boyptc

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Quote from: nicster551 on September 08, 2017, 07:08:21 PM

Quote from: boyptc on September 08, 2017, 07:00:55 PM

Quote from: Taylorw on September 08, 2017, 04:35:39 PM

It would be really terrible news. Some people have a lot of money invested in bitcoins. It's scary, to lose everything in a second

Very terrible and many will be disappointed with this type of news. But we will not be heading on that scenario, we are on the opposite side and bitcoin will not be banned instead it will be lightly accepted and will be adopted by with different countries so there's no way I can see that bitcoin will banned. It may be banned in some other countries but the whole bitcoin itself won't be.

Yes it can cause disappoinment for everyone if the bitcoin become banned in different countries because there are many supporters of bitcoin now that working in bitcoin to spread it's uses to other people and also Bitcoin become helpful for the people who are unemployed in their country.

Those people that will celebrate when bitcoin gets banned are the ones who wants to see people disappoint in bitcoin. And they are supporting some other coins, I personally doesn't want to see bitcoin to ban in any country but the reality is that some countries doesn't appreciate this great invention of Satoshi.

mornabo

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Quote from: Krispin47 on September 08, 2017, 04:43:52 PM

Quote from: aTriz on September 05, 2017, 05:24:32 PM

Quote from: lady Royal on September 05, 2017, 04:52:08 PM

What If Bitcoin is banned in your country will you still use it?

If you use it how will you? How will you exchange it and how will you completely use it as you do before.

Don't really think this is possible since there is just no point in banning Bitcoin. The countries that ban bitcoin would just be crippling themselves and their economy. Most countries would just tax Bitcoin instead of taxing it.

Yes i agree. What is the reason for banning bitcoin. Its money so why theyre banning it. And theres no proof that bitcoin is not good and illegal. And many investors are investing here.

I think it's not just about taxing bitcoins. the government banned the use of bitcoin because the government noticed that bitcoin is highly vulnrable to serve as a facility for financial crime. with an anonymous and decentralized merit of course criminals will easily commit corruption and similar crimes without knowledge of anyone, that's why the state forbids bitcoin

denny27

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On my knowledge until now, government still doesn't take the attitude for sure/ action to ban bitcoin, anyway bitcoin also doesn't harm the state or harm a country. More precisely the role of government to date, such as just knowing, while monitoring the good side of bitcoin for the country's economy. I think the possibility is small if bitcoin is banned. Bitcoin in my opinion will continues to exist, and seems many peoples will still continues to earning bitcoin even if bitcoin is banned including me.

Yarsk

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First before I say any thing I want you guys to know am speaking base on my understanding of what is it like in a counties as third world countries. Bitcoin over here is just like the air we breathe, no body not even the government can stop bitcoin. You can even sell your bitcoin to a person one on one and get your money paid to you either in cash or transferred to your local bank account.

enwi

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if bitcoin is banned many people will cry and go crazy, there will be many people looking for another job but i think it may not be possible

Bittoshi

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Quote from: lady Royal on September 05, 2017, 05:14:26 PM

Quote from: ccowl on September 05, 2017, 05:01:03 PM

I would still use it. Not sure how the government can really find out you are using bitcoin unless you walk around screaming about it. They could block the exchanges, but you can use proxy or VPN to go around it.

I would like to ask you how will you still use it?'
When It will be banned in your country then how can you use it or how can you exchange it in your cash? It will be useless for you isn't it?

If it's banned in your country you can only try to use/sell BTC via a VPN proxy connection (secure tunnel) to an exchange in another country where BTC is not banned. All data sent via the VPN tunnel is encrypted so not even your internet provider knows what exactly you are doing. Or (riskier) try to find someone in your neighborhood that will buy your coins and pay in cash.

kamikadze69

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I think that would be a bad thing for both investors and us, because with the prohibition of bitcoin the volume of transactions that occur will also decrease quickly and will decrease the value of bitcoin.

SushGo

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Quote from: lady Royal on September 05, 2017, 04:52:08 PM

What If Bitcoin is banned in your country will you still use it?

If you use it how will you? How will you exchange it and how will you completely use it as you do before.

It doesn't matter as many people are still using the bitcoins despite the ban from their governments.

Akash1243

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I don't think so that bitcoin will be banned globally now as many countries have legalised bitcoins.Even if they are banned black markets cab still use it and many people will use as controlling people not to would be hard for governments.Instead governments are trying to make bitcoins usage by legalizing them and some banks are trying to adapt to crypto currencies.

Stephencb

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No. Bitcoin is global. If one jurisdiction outlaws buying, holding and selling, business will simply move elsewhere. It will create a black market in the place where it is outlawed, with prices at a premium.
The issue isn't really about banning or outlawing it. I don't think the conversation is heading in that direction. Instead, the focus of attention seems to be on regulation and what regulation should try to achieve.
Regulation can go both ways. It can provide consumer protections, tighten AML, and positive things like that. That's what the PBOC has done this year to date. Or regulation can be so restrictive it stifles innovation and entrepreneurship.
We are beginning to see government and central banks thinking about sovereign crypto. I think that's where the debate is going to be: essentially a debate over which form of crypto we trust more.

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