Topic: What if Government bans Bitcoins? - page 10. (Read 6072 times)
Those who believe that no government (except those run by bad dictators) can take an extreme step such as banning the coin-forming, they really need to return to the old history and receive lessons from it. For some time, the possession of gold bullion in the United States of America was an offence punishable by up to 10 years ' imprisonment. In 1933, US President Franklin D. Roosevelt ordered all Americans to hand over their gold possessions to the Federal Reserve Bank. The ban on owning gold has been in place for more than four decades, before President Ford has approved the legitimacy of gold ownership. This change was easy when considering the fact that America had abandoned the standard of gold for a short period during the presidency, and therefore there was no need to have huge amounts of gold to support the currency being printed.
People use crypto currencies despite the fact that many governments don't like bitcoin and crypto. Although there are several countries on the other side; who has given legal status to this currency.
Crypto's currency is the future of fiat, and that is why the governments of several countries have not been able to accept the existence of bitcoin as a means of transaction so they think there is no applicable tax system. but actually in terms of improving a country's economy I think bitcoin is very helpful as an alternative in terms of finance so the government must provide policies to bitcoin without only thinking about taxation issues
Crypto's currency is the future of fiat, and that is why the governments of several countries have not been able to accept the existence of bitcoin as a means of transaction so they think there is no applicable tax system. but actually in terms of improving a country's economy I think bitcoin is very helpful as an alternative in terms of finance so the government must provide policies to bitcoin without only thinking about taxation issues
Well definitely if the government ban bitcoin in a particular country it will not allow all bitcoiners to use it. But if you really loved bitcoin, you may find some ways to use it or to make a move with it. I believe that they cannot trace you if you used it secretly 
Prohibition of bitcoin is an action roughly corresponding to the prohibition of Internet. Currently, this is almost impossible because of the significant development of communication networks. You can only slightly complicate the use of bitcoin, but it is impossible to completely prohibit it by any government.
If the government bans Bitcoin, I think e-commerce will be interrupted. That makes traders feel nervous.
Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??
If that happened government banned bitcoin I think that's that's the end of the popularity of bitcoin. But it is impossible that government banned bitcoin because their are to many country's accept bitcoin as legal tender.
unless the internet is shutdown its practically impossible to ban the bitcoin. the worst that can happen is what we are currently witnessing in some countries that have banned the crypto. different countries have different rules concerning both paper and digital currencies and i do not think all the countries have unified system that pave way for banning of crypto throughout the world. it might be a threat to some financial institutions but bitcoin cannot be totally wiped from the earth.
Bitcoin is ALREADY BANNED IN 6 countries.It would be such a terrible move to the crypto world should governments boycott Bitcoin. A great many people have grasped crypto and business are tolerating it as a type of pay, if its Banned a considerable measure will be influenced, its anyway relatively inconceivable as Governments overall work on various arrangements and some have just authorized it.
Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??
Decentralized nature of bitcoin , in current equation , also means the absence of even the basic mandatory regulation. That is why you get this obscene level of pump and dump and snoofing. In any other civilized trade, those are jailable offense. Funny thing with crypto is irrespective of all the hype and mass adoption, only a fringe actually use it. As long as it remains in the fringe, the governments are not acutely bothered to regulate. As long as there are no regulations, pumps and dumps will dominate. This is a cycle. One day the government will act when a trillion dollar market wipeout happens, there is blood on the street.
I don't think that this is possible just because government cannot ban something that is not belong to it, if government will not allow to use cryptocurrency people are having an opportunity to go to the another country.
That's is a bad decision that they made if they ban one country that many people use Bitcoin to earn money to there daily needs and to there future.many people will be affected if they ban bitcoin.
The market is literally going down so bad. I don’t know what to do. But for governments, i don’t think that they will try to destroy bitcoin. They only do some regulations.
Yes we know that some country banned bitcoin.but if the other country follow also to banned bitcoin many people will be affect,there are many people earn money for bitcoin. bitcoin help them to have a better life and better future even when they don't have work.
I think that if bitcoin is allowed by the government but they certainly warn people to use or invest in bitcoin wisely.
if that will happen, of course all our ownership will be easy to use, also there is a trade going on the value of bitcoin will rise also the altcoin.
it will not be necessary for the countries to sublet this trend. crypto money stocks were toys in the hands of whales.
Bitcoin can be banned by some countries who are afraid of losing control of their economy and that the government still wants to have its say in the economy. What is certain is that not all countries will ban it, some countries like Venezuela sees in Bitcoin an opportunity to become independent and not to be controlled anymore by the United States. There are always two camps and so Bitcoin will not disappear. It is true that Bitcoin is about to change the world economy and we must take the time to do it and especially give it time to stabilize.
Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??
Nothing would really happen - everybody knows what VPN is (look at Iran where Telegram is banned - the iranians are still widely using it as a source of news and trading activities).It is almost impossible to somehow restrict the payments made in btc since there is no way to unclose the identity of a payer.
So no worries, even if bitcoin is banned in certain countries it will still be widely used.
Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??
it is impossible for the govt to blocking all sites which relate to bitcoin, etc. people always can find a way to access that, so not to worry about that. it only makes a little problem 
The government used to be a hardline for cryptocurrency innovation but now they are beginning to adapt to it. Even decentralized crypto features are now starting to look attractive to some governments when they begin to allow the use and trade of Bitcoin and other crypto in their jurisdiction.
Truly speaking , there will not be much changes. Firstly, governments of all the countries around the world would not unite to ban CRYPTOCURRENCY worldwide. So you can easily get your coins exchanged in some other country.Secondly, some countries governments had already accepted and legalised CRYPTOCURRENCY.
I think it will be very bad for all groups of society. We should develop and encourage new technologies that will make our world better so cryptos can not be banned
Jump to: