What if Government bans Bitcoins? - page 17.

iTzMeZaN

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Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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??

i think if geverment can ban bitcoin theve already done co'z they nothing gets taxes or nothing so they done but they cant bitcoin continue spreading the world

westril688

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Quote from: classictee on August 30, 2018, 11:27:34 AM

If government of a country ban crypto, another country will be trading crypto, all country government can not ban at the same time. Bitcoin will continue to exit, when China ban, Indian legalize it. Such is how it will always be

As long as there are countries that legalize bitcoin as a payment instrument or can be traded, it means that bitcoin will always be there. But if countries around the world ban bitcoin, maybe bitcoin will die and become a story that bitcoin is a common enemy of countries in the world. Because bitcoin cannot be controlled or intervened by anyone, it is also a problem for a country's financial authority to stabilize the financial system so that it does not fluctuate and stabilize.

StImelda

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it will not be the end of bitcoin, bitcoin is designed to be censorship resistant, it did very well in the past with or without government interference.

Bohxz M4p4gm4h4l25

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Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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??

Everything will be possible in our time such as that thing as banning Bitcoin but that will take a judicial process because government cannot just ban Bitcoin without any provable evidences and tough reasoning why they will do such thing because the case is whar if you have already a big amount of money on your virtual wallet and they have just banned Bitcoin without any notice, then they have just put all the decisions on their hands without concerning its people's right that will surely result into a chaos.

Supremacy1

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It is possible. But most countries will still support it , while some of the ban countries can still find ways to manoveur it

shadyrifles

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A few countries government has already banned the bitcoin but they can’t fully restrict the usage of it.

melallgarant2015

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all ahead

HerbalCommunication035

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Government can put a ban on bitcoin and declared it illegal but government cant stop the user to using bitcoin and crypro currency because it is a blockchain based system and internet can not be regulated.

rickyrich45

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major investments are made in block-chain technologies around the world. academics and universities are working hard on this issue. crypto money attracts people's attention to the block chain. I do not think they will block.

Melchizedek1

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The bitcoin is a decentralised and virtual way of making payments in today's financial world.... governments will have to fault the bitcoin on legal and legitimate issues to be able to pull down crypto

altcoinhunter01

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It is already banned in so many countries but now the time comes when many countries try to make regulations about cryptocurrencies and legalize it as more and more people start putting their money in it. If the regulations come into effect then we will see a huge new investment by those who invest only in regulated markets.

Ronyx

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I think the government will have a hard time banning bitcoin as a whole because bitcoin has become big and very popular, maybe in the future the government will look for ways to get tax from bitcoin exchanges in the country.

equator

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Quote from: classictee on August 30, 2018, 11:27:34 AM

If government of a country ban crypto, another country will be trading crypto, all country government can not ban at the same time. Bitcoin will continue to exit, when China ban, Indian legalize it. Such is how it will always be

.

Who told it that Indian legalized the bitcoin, Indian have banned usage of bitcoin on april 2018 itself and now their legal war going on between government and local exchanges. But even then we are using bitcoins through P2P exchanges and dealing through localbitcoins exchange as the deal is between direct buyer and seller accounts.

denzkilim

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Quote from: MinerFTW on August 30, 2018, 10:56:37 AM

Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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 something like this happens, it will not be very pleasant because then all coins will be useless and worthless. But in general I very much doubt that something like that can happens.

Governments can ban the websites of crypto currencies especially those web wallets and exchangers but not every government will do this kind of action against crypto currencies because the majority of the government in this world knows the potential of this technology. Only the minority of the countries will do this kind of action especially those closed-minded countries that see Bitcoin and other forms of crypto currencies as a threat to their economy and to their citizens. We all know that we can't please every people to appreciate this technology and innovation in our monetary system and it is normal if some or more people are against crypto currencies because it is part of the balancing system in this world if you know what I mean. Cool

If the worst case scenario will happen just like the OP said: "What if Government bans Bitcoins?" and this happened in almost every countries in the world it will be a total disaster to everyone who hodls or possess crypto currencies because when Bitcoin is banned all over the world the value of almost every alternative crypto currencies will surely fall in an unimaginable way. (don't worry this won't happen Grin

)

classictee

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https://eloncity.io/

If government of a country ban crypto, another country will be trading crypto, all country government can not ban at the same time. Bitcoin will continue to exit, when China ban, Indian legalize it. Such is how it will always be

uyenkt

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that really happens, we will still find a way to trade either through some sorts of dark web or private network to trade still

MinerFTW

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Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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 something like this happens, it will not be very pleasant because then all coins will be useless and worthless. But in general I very much doubt that something like that can happens.

akihiro101117

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Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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 will definitely not going to happen. cryptocurrencies are decentralized if they have to shut it down, they have must done it years back before it was in the mainstream which didnt happen. it is hypothetical

sneeze11

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Quote from: rolls89 on March 08, 2018, 02:07:53 PM

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??

I think if government ban bitcoin I will find a way to continue working here. Actually some country banned it but the worker did not stop to work here because they know that they can earn here and can be rich or successful.

Jyominall

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Well, then bitcoin will lose its popularity and people start to use it only in illegal business and(or) darknet as it was few years ago.

Topic: What if Government bans Bitcoins? - page 17. (Read 6072 times)