Topic: What if Government bans Bitcoins? - page 12. (Read 6072 times)
It will not change things much in the future because bitcoin was not designed to be controlled by the government. If governments ban btc and people are willing to use it, no problem, it is peer-to-peer
Government might succeed in banning bitcoin but as long as the internet still exist, bitcoin will still be in existence in countries where Government has banned bitcoin. The bottom line is that, people will continue to pursue bitcoin illegally in the comfort of their homes so long as blockchain technology requires internet to survive.
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??
They can't block sites to prevent reaching your wallet. but they can track your bank account to get tax.
Then it becomes illegal. Any transaction made after banning a currency will be treated as a crime since it prohibits everybody from engaging in such transactions. But this is only unfortunate for citizens of a country that actually banned Bitcoin or any other digital currency. But Bitcoin has gained good reviews lately due to some adoption of huge and well known companies. And so banning Bitcoin may no longer be an option for other countries due to this development.
Even those countries that are now against bitcoin, will return to it after they see the progress and benefits that countries receive that are loyal to bitcoin
I dont think so because there are a lot of alternative coins instead of bitcoins.
yes there are alot alt but alt is affected by bitcoin. so if bitcoin get ban alt will be hard to survive tooluckily, bitcoin doesnt need goverment regulation. bitcoin can survive without government :p
I think that this is some kind of absurdity, the maximum that they can do is to tax it if they forbid bitcoin, then its owners will be very unhappy and this is fraught with consequences
very disappointed, indeed the government will give me money if he prohibits bitcoin. if possible then I am willing the government to ban bitcoin. 
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??
Governments wont ban Bitcoin but they might make restrictions against its use and some times they might make formal regulations to people who use Bitcoin locally to avoid any negative effect that might occurs due to the usage of crypto currencies by citizens to government economical system because if a large part of the population starts to do everything in Bitcoin how a government will make taxes to transactions and that issues cannot be solved due to the decentralized nature of Bitcoin and its network
Then it would be same as it is now after being banned in a lot of countries. The decentralized nature of bitcoin makes governments approval flimsy.
Im already invest in bitcoin in a long long year ago and im alwasy earn with a good profit cos im n investor and trader so now im still have money on bitcoin what eill happen to my bitcoin if it banned in my country we lose our life and apportunity of the people if we do that so i think that is a bad idea to banned in other country
We already banned some of the country and i think it was so sad if you already invest a lot of money in bitcoin and they come banned in your country is' really sad and disappointing from that cos your expectation to earn from bitcoin with a good profit will lose and gone
It is possible for the government to ban bitcoin in any case. But the least thing they want is the falling down of their economy. So banning bitcoin is not an option. And since all countries are aiming for globalization, bitcoin and other crypto market are very useful for it.
It won't be that easy for government to ban bitcoin outrightly, considering the decentralized structure of bitcoin.
Government can ban BTC in one country not all, all country have their right to choose whether to accept it or not and not all can see BTC in the same perspective. It is not to be denied that if some country denies it some will want to take the same step but it the nearest time I see the use of crypto going mainstream.
Advances in science and technology are being formed including the cryptocurrency market. If the government bans the operation of crypto, it can hinder the advancement of technology. That may affect the financiers.
If government succeeds in outright banning of Bitcoin then the coins in our various wallet will become useless. But I do not think it will be possible for all the government world over to ban bitcoin at the same time. Already we have some counties that had already endorsed bitcoin and legalized cryptocurrency in their countries.
I dont think so because there are a lot of alternative coins instead of bitcoins.
To do this, all countries of the world need to go to one opinion about the ban on bitcoin. But I am sure that this will not happen because there are countries that have adopted this technology. besides I think that most fund companies and investment companies invest and trade cryptocurrencies, they would not accept such a ban.
Some countries have already banned it, but many such ones that are more loyal to bitcoin. Let's hope that more countries will resolve it, otherwise bitcoin will not be in a better situation.
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