I think the only option to get bitcoin then would be earning it from a contest like a gaming tournament or a marathon and the first price would be 1 or 2 bitcoins and the second option would be that
you can buy them from people who already have them.
Topic: What if Bitcoin mining becomes illegal world wide? - page 8. (Read 3244 times)
I think not all countries are against bitciin. there are only a few countries that actually oppose the existence of bitcoin, they reasoned the insecure bitcoin for use in their country by laundering illegal drugs or other activities is the reason they oppose and deny the presence of bitcoin in the country. but they do not see the positive side of bitcoin. can move the economy of a country.
I dont think mining will be mande illegal in countries like the UK and the USA. However, more regulation in excahnges and in ICOs will be inevitable. We shall see and have to keep our fingers crossed!
the government may have a reason why bitcoin becomes illegal because it could be detrimental to the state.
Why suddenly all this topics about bitcoin being illegal? Because of China? To my opinion this is exaggareted. Bitcoin and he mining are not regulated in many countries but that doesn't mean they are illegal or that will become illegal. Governments will not decide to go that strict against the bitcoin. Time is working for bitcoin and with time the situation will be better, not worse.
Bitcoin mining keeps the stock of bitcoin infinite. As long as there is stock there will be no limit of bitcoin. If the mining will be stated as illegal by government stocks will be limited, prices will increase as long as people are purchasing it. It will be the highest priced we will ever see in the markets if that would happen but I think it will be harder to earn bitcoins alongside with it.
As far as i can see,the government can't go every home to find who is mining bitcoins.
Supposedly if we assume government can apply any alternate method to ban mining,the value of bitcoin would decrease and no one shall demand it more as we do today.
Supposedly if we assume government can apply any alternate method to ban mining,the value of bitcoin would decrease and no one shall demand it more as we do today.
This will result in the collapse of bitcoins, and it may be that people who are involved here will be rid of it. We know that it's not impossible especially now that china shows their strength to stop them. We do not know what's going to happen but it might well have been the trend of bitcoins so that it will continue with the rise in price
Of course the bitcoins industry is weakening. And the bad thing is that bitcoins will fall and lose. And this is possible because many of them really affect them. And of course they make way for the bitcoins to manipulate. We see china today that the exchanger operatives have been shut down and even ICOs have not survived their scourge. So watch out for the next
It would be illegal that means less people would mine, operative word here is "LESS" which means demand will outweigh supply and the reward for mining will become outrageously high.
It is not sustainable, law enforcement searching for humming noises, or high electric bills for PoW, PoS will leave less of a trail. It would literally become an underground market with people using basements to mine. The irony mining underground.
It is not sustainable, law enforcement searching for humming noises, or high electric bills for PoW, PoS will leave less of a trail. It would literally become an underground market with people using basements to mine. The irony mining underground.
"What ifs"
Ok, it would mean a price crash to sub $500 and loss of mining hash coupled with long confirmations since no one wants to go to jail. However in some parts of the world, there will still be miners, it would not be large mining farms, but simple home rigs cuz that wouldn't be obvious to authorities.
Ok, it would mean a price crash to sub $500 and loss of mining hash coupled with long confirmations since no one wants to go to jail. However in some parts of the world, there will still be miners, it would not be large mining farms, but simple home rigs cuz that wouldn't be obvious to authorities.
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
If it becomes illegal to mine, then that would be when bitcoin would witness tremendous rise in the price of bitcoin, since there would be only few miners to confirm transactions, there would be many transactions to be confirmed by few people and then mining would become profitable. Lets discuss
I do not think that bitcoin will be banned all over the world, because it is a very convenient currency that improves the lives of many people. Those countries that prohibit simply do not yet understand all the advantages of crypto currency.
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.
Cant be helped since even those people would create their miner noiseless government would really find a way to trace down possible mining farms or operations. They would just simply see on electricity consumption knowing that miners a energy hungry and expect consume would be more for a typical electricity consumer.We cant still escape if it would be banned then possibility of bitcoin to die is there.If few people are mining I guess the Mining Difficulty will decrease , we will all move back to mining on our computers, GPU & low noise equipments.
Bro Banning will NEVER work,Satoshi is a Genius.
This might be the reason why government didn't still able to make such action on banning them since it would really be hard to imposed such thing.
Will if that happens a lot of people will lost their jobs including us. There will be no more talking here in the forum and people will search for new opportunities online.
There will be secret mining pools and new mining hardwares.
I never thought about banning mining. But i think single miners will have their chance again.
No one can ban solo mining. And i think bitcoin price will increase and they will be more websites on the dark web.
No one can ban solo mining. And i think bitcoin price will increase and they will be more websites on the dark web.
I could imagine a ban due to money laundering concerns or just because POW is a huge waste of energy. But there will always be alternatives: alternative coin, modes of transmission and different proofs out there. Even if bitcoin mining is banned, there is no way to stop all crypto activity.
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.
I don't see this coming. I think bitcoin will not be banned or illegal worldwide as long as the government would gain profit from it. The reason why bitcoin is not recognized yet worldwide because there is no support coming from the government but once the government would know and endorse this I really think that bitcoin will skyrocket.
I do not think it will happen, the whole world uniting to stop bitcoin mining by making it illegal, they can't even stop fighting each other. But let's say it happens, it is really the end of bitcoin. Without miners, bitcoin will be stagnant, no tx will be confirmed.
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