What If Bitcoin is banned? - page 24.

carlisle1

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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 bitcoin was banned here in my country for sure I won't be able to use it of course and there is no way that I can be able to exchange it whether into cash or into another coin as the government will surely monitor the activties of each internet users . But even though it is banned I will secure all that I had until the time has come that I can already be able to access it through a paper wallet or a hardware wallet .

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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.

In my own opinion if bitcoin was banned in my country i will cash out all of my bitcoins into cash because it will be pointless if i would still use bitcoin to earn money. But my other opinion is i could hold my bitcoin for a long time in my wallet and wait for the government of my country to unbanned bitcoin.

Remainder

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Me too! I will still hold and earn bitcoin even if its ban in my place because i can still used it in other place or country and when the time if it is not ban so I have much more bitcoin savings than the other who have affected of the bitcoin ban.

dongosquad

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of course I will keep using bitcoin, as long as the government does not restrict internet access to it.

ifeoluwa

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Well with the ban in China, one cant be too sure these days. The question still remains, is bitcoin really fraudulent??

Carlsen

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Just because there is a ban that does not mean there can not be money made with bitcoin anymore.
So I think that many people still would use bitcoin, even if it got banned.
Of course a few things had to change, and the price would go down as well.
But I am sure a kind of underground market would rise.
Much bigger than the darknet we have at the moment, and completely uncontrollable.
I don't think that is something any government would want.

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Quote from: romecheo on September 06, 2017, 03:15:11 AM

Whenever the government banned Bitcoin for and from any uses, i do believe the government are not capable to monitor each users/people who doing transaction with bitcoin, unless, they place logger/monitoring tools/apps for every ISP, monitor and track every ID's. traces every traffics and inspects every packet.

Bumping head to the wall is much easier than doing that!

Yep I agree, it's just too much work for them, they don't have the manpower or the time.

DoublerHunter

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If bitcoin was banned then it will be a huge issue because a lot of people are doing their best in bitcoin and they are all collecting bitcoin and keeping it on a safe place for an expected return which can make them a rich person in the future. Bitcoin is a really great currency but even a simple banning decision from a country for example in China, then it will affect the whole market again just what happened in ICO banning.

romecheo

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Whenever the government banned Bitcoin for and from any uses, i do believe the government are not capable to monitor each users/people who doing transaction with bitcoin, unless, they place logger/monitoring tools/apps for every ISP, monitor and track every ID's. traces every traffics and inspects every packet.

Bumping head to the wall is much easier than doing that!

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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 there is a ban of bitcoin in my country then there will be many people who are losers. Some people lose their money invested in bitcoin.
people will rebel against the government for shutting down their work.
I myself will also stop doing bitcoin because it does not make money for me

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Quote from: Deborah Christine on September 05, 2017, 10:51:11 PM

I think if bitcoin banned it will make the price go down.
But i think it will not happen. I think many country will accept bitcoin because there is good future to bitcoin. I believe it!

it wouldn't just dip; depending on the geopolitical influence(s) of the country (or countries) that ban(s) bitcoin have, the price of bitcoin could very well dip to 10% or less of what it is worth now. the stronger bitcoin as an idea becomes, the stronger the push for regulation and limited forms of control will become for the nations and states that govern the people. some countries could very well choose to openly accept bitcoin into their future, such as what Japan has done, but it only takes one superpower to destroy all that progress. we see that just this week, china, a global superpower, has decided to ban ICO's, which have had a major part in the growth of bitcoin in the past months. however, imagine if they were to ban the use of bitcoin outright. we've just eliminated a good percentage of the world's population that could legally use bitcoin, and at the same time diminished that much progress that bitcoin has made as an idea.

Ewox

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If bitcoin will be banned in my country then I don't think it is useful if I'm going to use it here. However if there is a will there is always a way. I can try to convert it to another country's fiat money and withdraw from there. For sure someone will find a way to make it useful and I don't think it is likely to happen too.

kelseydustin

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We can not do anything about that issue. And it is hard to predict whether the price will be higher or lower. As you can see, drug and cannabis are very to created and growth. But because it is mostly banned over the world, the prices are much more expensive that we expect. I think that maybe the price of bitcoin would become higher if it was banned.

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Quote from: Mpamaegbu on September 06, 2017, 12:14:57 AM

If it's banned, it stays banned. Look at what happened in China two days ago with the government hitting hard on the ICOs and that caused a sudden panic in the crypto world with already existing coins plunging. That wasn't a ban but it sure did send a strong message to us.

However, I don't think any country will place an outright ban on bitcoin. Countries can only regulate its use by way of leveraging on it for its tax. They will find a way to TAX users if it ever becomes expedient. But if by fatal stroke of luck bitcoin is banned in my country, I will relocate to a country where it's allowed.

This isn't true. Just because something gets banned doesn't mean it will stay banned forever. That doesn't even make sense. If Bitcoin got banned there would be huge protests and lots of chaos. People got rich from Bitcoin and are not just going to let the government take their money away!

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Yes of course! I would still bitcoin besides it would be hard for them to detect or know if who's still uses bitcoin and there are other ways on how to use your bitcoin/s just like paypal, shop on foreign websites, buy some in game items & etc. IMHO, it's better for the government to impose tax on bitcoin so all of us can benefit but the leaders that are corrupt would be more happier Grin

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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 your country banned using bitcoin that is within your jurisdictions.
You can still buy and sell things online using bitcoin, what difference does that make?
Don't let your country or anyone else stop you from following your dream. You should defy your boundaries.

Exactly, thats why in countries that bitcoin is banned, they still find the means to buy and sell bitcoin and it created the underground movement for cryptocurrency. I think its hard to banned this new blockchain technology,the demand is growing.

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If it's banned, it stays banned. Look at what happened in China two days ago with the government hitting hard on the ICOs and that caused a sudden panic in the crypto world with already existing coins plunging. That wasn't a ban but it sure did send a strong message to us.

However, I don't think any country will place an outright ban on bitcoin. Countries can only regulate its use by way of leveraging on it for its tax. They will find a way to TAX users if it ever becomes expedient. But if by fatal stroke of luck bitcoin is banned in my country, I will relocate to a country where it's allowed.

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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 they ban bitcoin, that will be a sign that they are scared that people see their fiat currency system is flawed and corrupt. There is no way for the government to hide how they steal billions from the taxpayer by using crypto currency, blockchain is the biggest invention since man discovered fire, we hear things like bitcoin is used for black market trades ....bla bla bla, when fiat currency is the most used for drug deals and corruption.

I will never stop using btc no matter what!!

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Bitcoin is unstoppable, there is no tracking it if you are smart enough, if bitcoin is illegal in your country just exchange it from some other country and receive payment from other payment processesor as a charge for some service etc. Governments are stupid if they think they can really stop bitcoin. Just use a good vpn and use your brain and you won't land in any trouble.

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bitcoin is not banned in my country but it is not legal, all goes as usual.
and if bitcoin is prohibited in my country, then I will sell all the bitcoins I have and will earn revenue from other lines.

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