Topic: What if Government bans Bitcoins? - page 2. (Read 6072 times)
I think every country has its own problems and regulations, most governments are afraid to be used in crime, but I'm sure the government will start accepting bitcoin,
If your Country bans Bitcoin, transfer your Bitcoin to a wallet of a foreign country (Coinbase operates in 32 countries). If you want to cash in, then use third party services like Virwox to get USD in Paypal, then use Paypal to get cash in your local currency.
Bitcoin is like Torrent, peer to peer and you can’t block it. If you have access to internet, You can use Bitcoin anytime, anywhere!
Bitcoin is like Torrent, peer to peer and you can’t block it. If you have access to internet, You can use Bitcoin anytime, anywhere!
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 the government prohibits bitcoin or blocks all Bitcoin wallet sites, then we will come back to a time when backwardness, poverty, and ignorance will be met a lot.
If this ban applies automatically the internet will also end and miss information about technology. Adverse effects will occur.
Governments must first understand and believe that cryptocurrency is not a threat to the financial security of the country and see its benefits.The next step will be the adoption of laws and regulations for the circulation of crypto currency, I think so soon.
Banning Bitcoin? I didn't think there is any chance that government would ban bitcoin. Many countries like USA take a lots of tax from Bitcoin profit. Why would they stop such an earning? I also think banning bitcoin is an old idea at present. Government now understood they can make money from it. So ban bitcoin is not a great idea.
I think the government can not ban bitcoins. Bitcoins are legalized and countries have earned a lot of taxes from bitcoin. Those countries won't let that happen.
I think it's true Buying Drugs with Bitcoin. And for this reason Bitcoin has been banned in our country.
I think it's something bad people do.
I think it's something bad people do.
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??
You can still use coins in your wallet, but surely you will be tracked directly by the local government if the government has banned bitcoin in your country. But depends on the government too. Do they care about people who still use crypto money when they know that the crypto currency has been banned or not.
Individual governments will be able to prohibit bitcoin, but all states are unlikely to be able to do so. Most countries have already expressed support for the legalization of the crypto currency. The European Union takes the same view, and this is 28 states. In general, bitcoin will be very difficult in a particular country if its government decides to ban bitcoin. The bitcoin will remain, however it will be driven into the shade.
if the government prohibits the circulation of bitcoin then the price of bitcoin can be influential and certainly will make the price of bitcoin fall and collapse because many people will panic.
Any ban by the state on access to any resources on the Internet leads only to the fact that almost instantly there are bypasses. Panic can occur only in people who do not understand the principles of the Internet, and the number of such illiterates is constantly decreasing. Therefore, there is no need to fear the ban on bitcoins on the part of the state.
With the look of things and situations especially fundamental news about bitcoin it is likely or nearly impossible to ban its operation. Blockchain technology is a way of the future coming. Businesses are working and threading towards this direction. So, it is just to create panic so that the price can go down and this same people carrying the bad news buy more at lesser price.
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 they banned bitcoin and even the wallets, payment and etc. it will probably result to a negative situation because many people will panic and they will stop on investing. Even they banned there is a chance that you can still use your bitcoin but you need to transfer to another countries which bitcoin is not probihited. It mean game over for that country. it depend what will that going to do after the banned of bitcoin. but that will not stopping from other to buy bitcoin as bitcoin are anonymous. What is bad it sure make bitcoin price drop and regain a bad negative from it.
It's not necessarily game over for the country, they can still participate and invest in bitcoins by using a socks proxy and they can cash out their coins whenever they want by using any exchange. The government will be depriving themselves of revenue though. If the government prohibits the Bitcoin investors in the country must have a good thing to keep all the investments they have done so far.
It mean game over for that country. it depend what will that going to do after the banned of bitcoin. but that will not stopping from other to buy bitcoin as bitcoin are anonymous. What is bad it sure make bitcoin price drop and regain a bad negative from it.
It's not necessarily game over for the country, they can still participate and invest in bitcoins by using a socks proxy and they can cash out their coins whenever they want by using any exchange. The government will be depriving themselves of revenue though. 
It mean game over for that country. it depend what will that going to do after the banned of bitcoin. but that will not stopping from other to buy bitcoin as bitcoin are anonymous. What is bad it sure make bitcoin price drop and regain a bad negative from it.
maybe the government forbids it because you don't know what bitcoin doesn't know far enough if the government participates in investing in a coin. I'm sure he won't ban it. And if the government bans botcoin, I will introduce bitcoin to him and ask for a lot of money.
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??
as of today i believe that there have already been a lot of countries that bans bitcoin.
but here we are still engaged with bitcoin.
no matter how hard it will be there will always be those dedicated supporters of bitcoin that won't let it go despite of all the odds they needed to conquer.
and i hope they will continue to do so in the coming days
if the government prohibits the circulation of bitcoin then the price of bitcoin can be influential and certainly will make the price of bitcoin fall and collapse because many people will panic.
They will not drop it frontally, my assumption is that they have to consider some altcoins to be legalized if bitcoin is considered bad. Prices will indeed go down, but there is a massive recovery after that from Altcoin. The government's problem with bitcoin is the governance of systems that do not have CEOs and cannot be accounted for, but they support the development of blockchain systems that cannot be separated from bitcoin.
if the government prohibits the circulation of bitcoin then the price of bitcoin can be influential and certainly will make the price of bitcoin fall and collapse because many people will panic.
If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved.
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