What if Bitcoin mining becomes illegal world wide? - page 2.

shesheboy

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Quote from: webdevmastery on December 24, 2017, 02:13:59 AM

Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Then i think, That will be the end of bitcoins because most of the contribution to the market came from mining and mining is very popular because it is a passive income but it also required a huge amount of capital in order to create the best mining hardware to run.

no, bitcoin will not come to an end if bitcoin mining will be banned or prohibited. bitcoin has many uses not just mining. bitcoins primary uses is for buying and money transfering therfor bitcoin can still be useful and will still be used by the people even without mining. mining is just another form or way of earning and obtaining it , however people can still earn bitcoin in so many ways like doing micro task in the forum and doing free lancing jobs online that pays in bitcoin.

webdevmastery

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Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Then i think, That will be the end of bitcoins because most of the contribution to the market came from mining and mining is very popular because it is a passive income but it also required a huge amount of capital in order to create the best mining hardware to run.

whitemacna

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Sounds from Bitcoin Mining hardware is probably the only way Government would know you own them. Creative people will be forced to come up with noiseless or low noise ones.At this moment i cant see any reason for make bitcoin illegalI know that in some countries is prohibited, but the prohibitions is possible outmatchSo i think that bitcoin cant become illegal world wide

sensei stupid

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the obvious reason why to refuse bitcoin mining and why it refuses to become illegal, because there will certainly be reflection on the part of each country concerning their respective currency, and it is clear, is it possible that the currency of a country is actually in leave and make bitcoin as the legal payment tool in that country? I think it is a bit impossible, and about the mine, it will probably have an effect on the economy to that country. because everyone who's on the bitcoin will mine on their own source of money.

Pettuh4

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Quote from: doomloop on November 10, 2017, 10:19:00 AM

Quote from: dsaijz03 on November 06, 2017, 07:58:58 AM

I don't think so. If it will becomes illegal then it is illegal but bitcoin will remain the leading crytocurrency it is because there are other way to earn bitcoins like e.g. Trading and campaigns.

Yes it is going to be the legal at the same time, all the people are buying the bitcoin and it is the basic thing for the bitcoin and the security of the bitcoin is the big problem for the people now and the dream of the bitcoin is just to be the legal at the all perspectives and the respect to have the fun and the value at the bitcoin. The government is going to make the bitcoin as the legal currency and this will be the best time for the bitcoin growth.

If that ever happens then i guess there will be no bitcoin transactions and bitcoin will likely fail to exist because it will be unusable because there will be no block generated to be solved .

doomloop

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Quote from: dsaijz03 on November 06, 2017, 07:58:58 AM

I don't think so. If it will becomes illegal then it is illegal but bitcoin will remain the leading crytocurrency it is because there are other way to earn bitcoins like e.g. Trading and campaigns.

Yes it is going to be the legal at the same time, all the people are buying the bitcoin and it is the basic thing for the bitcoin and the security of the bitcoin is the big problem for the people now and the dream of the bitcoin is just to be the legal at the all perspectives and the respect to have the fun and the value at the bitcoin. The government is going to make the bitcoin as the legal currency and this will be the best time for the bitcoin growth.

Ewinsane

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Quote from: GreenBits on November 05, 2017, 11:35:56 AM

Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

They would have to eliminate every last node; this would require the global cooperation of a governments, it would have to get pretty bad lol. The authorities really arent against the mining aspect of the protocol; in fact they rarely legislate against those folk. the only time miners but heads with officials is when they are stealing power or avoiding taxes Wink

notice how China cracked down hard on exchanges, but didnt really address the mining situation, especially given they are the majority of the network.

if they want to talk about consumer safety, lets talk about all those janky ass asic farms that used to catch on fire every other week.

It is impossible for all the mining thing to become illegal at once .we have example of China in front of us that has imposed a serious crackdown on exchanges few months back because of the fact that they were not paying taxes at time .it is obvious that Bitcoin trading investment mining and all other related issues are factors for improvement in country’s economy.

Therefore no government thinks about banning it at all. If anyone really wants illegalization of mining process then he would have to wait for a thousand more years to make it possible.

voztata

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Quote from: LuXiiRaS on November 05, 2017, 09:31:18 AM

Actually this is the main reason why the people don't believe in Bitcoin investment yet.
If Bitcoin mining becomes illegal we can't confirm anymore the exchanges so it's the end of Bitcoin I think.

It can't be illegalized because people are favoring it and trying hard to get more bitcoin. People are welcoming it warmly because the ease and comfort it is providing, quick and easy transferring of money is its characteristic, let suppose a world without bitcoin then poverty and unemployment will be at its peak, living standard will get low and sharing of resources will decrease

PointHope

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Quote from: gz1derbread on November 06, 2017, 02:43:03 PM

The probability that this will happen is negligible. Just look at our world. There simply is not a question in which all countries are unanimous. Bitcoin is very convenient, modern, promising, and to ban it is very stupid. In addition, I know several large world politicians who have a large number of bitcoins. And it is not in their interests to prohibit bitcoin in their country. So you do not even have to think about it.

You got that right.

We are watching a global revolution taking place. Bitcoin is making government, politics and billionaire douchebags like Donald Trump completely obsolete.

Soon there will be no more stupid nations, we will simply be people of the world, bitcoin the global currency will permit this to happen.

Bitcoin is big like you have no idea!

gz1derbread

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The probability that this will happen is negligible. Just look at our world. There simply is not a question in which all countries are unanimous. Bitcoin is very convenient, modern, promising, and to ban it is very stupid. In addition, I know several large world politicians who have a large number of bitcoins. And it is not in their interests to prohibit bitcoin in their country. So you do not even have to think about it.

meyklove

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Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Limited supply, high price demand i think and people can still get it from exchanger. And I'm wondering why some country against to bitcoin?

dsaijz03

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I don't think so. If it will becomes illegal then it is illegal but bitcoin will remain the leading crytocurrency it is because there are other way to earn bitcoins like e.g. Trading and campaigns.

saedasda

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It will go down at first but then it will recover slowly. You cannot stop people from holding and buying bitcoin either government cannot stop bitcoin that's why some of the country legalize it so they can get a tax Wink

maybe if government will use quantum computer to hack our address that's the only way i think can stop us

zarados

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if mining cryptocc is an illegal act, then places like gaming centers, data centers, and other places that contain many computer devices should be illegal, because mining processes require only the device and internet access in it. What might happen is in the prohibition circulation of cryptocurrency, instead of mining process. As long as the miners are always obedient to income tax in their respective countries, I don't think there will be any problems with the mining process.

w5pn73

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We will be having some huge problems if this will happen. Everyone who says the network can't be stopped is right, but it's not the network they need to stop.
It's the people using it.

bob123

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I can imagine exchanging/buying/selling to get illegal in single countries.
But i have trouble imagining mining to get illegal. Governments can put regulations on bitcoin, or stop dealing bitcoins.
I dont see how they could theoretically forbid to mine bitcoins. IMO its highly unlikely for governments to forbid using your PC
to calculate hashes and being connected to the bitcoin network. I mean.. alright china may be such a country (which sh*ts on human rights)
which i would give credit for banning mining. But in the most parts of the world i dont think mining will get illegal anytime soon.

Flodemaga

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Well if bitcoin mining becomes ilegal we will see the hash splitted between a lot home miners, and well there is no way to stop them all, even hitting those wich does spend a lot energy at home, there are already clean energy that are used to mine as well. Mining has became a game which early and big fortunes can grow without almost any risk. I wont be alive to see the last bitcoin mined, but one thing is sure it will be a massive cost to let all the hash to protect the coin, now imagine the fees cost as well the bitcoin value it will be.

raymart0720

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mining is not illegal and miners don't do such bad things about solving math problems ..
what making bitcoin really bad in the eyes of most people is it can use to illegal and things.. that is why people dont accept and thinks that bitcoin is illegal.
I think these will not gonna happen worldwide imagine how they control people using or mining it

Pettuh4

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Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

I will probably mine in the deep seas in my boat or in a cave. I don't think they can be successful in implementing such a ban because maybe the core devs will find a way for us to use the nodes instead. There is definitely going to be a way out of the ban unless they maybe switch off the internet worldwide.

Cranidos

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Quote from: TheBitcoinBoy on August 24, 2017, 01:46:10 PM

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Perhaps. However, Bitcoin is too good to give up on so there will be no doubt that even though Bitcoin mining will be banned worldwide, people will still mine Bitcoin secretly. Transactions might go deep web so that authorities will have a hard time stopping the mining.

It seems the government does not like Bitcoin because they cannot control it. We know how obsess the government can be when it comes to controlling.

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