Topic: What if Government bans Bitcoins? - page 36. (Read 6112 times)
Government already banned bitcoins in many countries as because all the crimes and the illegal works like drug peddlars and gun smugglers use bitcoin for their transaction as it is anonymous...and bitcoin is not in the hands of the government so the government wants to prevent its country people from using it.
Then the government should be able to fight a people without borders. The fact is that except control on internet stiffens beyond what we have now in a coordinated move of governments around the world, any so-called ban on bitcoin can hardly be effective as to move an inch.
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??
Bitcoin doesn't really need any website to work, nor do the wallets so no, they can't stop it unless they turn off the whole internet system, and I find it quite unlikely... Some countries were already banned bitcoin, and here in my country they did not banned it not because they don't know what to do but they find bitcoin as an interesting and a great opportunity for the people, and a big help in our growing economy.
That's true even there are countries are banned bitcoin, there are country will still support bitcoin. Maybe their reason is that they could not get some taxes, or else they dont really know or understand the benefits of bitcoin, so the government bans bitcoin. There is no doubt that bitcoin is banned by the government because government will never accept bitcoin.
Thats the biggest fear of all bitcoin users and investors because some coutries already banned btc and its possible to ban it in all countries in the world, if this gonna happen bitcoin will die, life of bitcoin is only depending on the people investing on it, we run bitcoin, it will be the end for btc if government ban bitcoins. 
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??
of course what you discussed has happened in some countries, look what happened in 2017 in china. china prohibits bitcoin mining and bitcoin trading. all their access block
and some countries follow Chinese state policy, but it certainly has a big effect on bitcoin turnover. but again we can see the bitcoin is able to go back and grow
If your government ban bitcoin, then all peoples in your county will not be allowed to do any kind of bitcoin transactions.
And this is not the end of bitcoin. You just need to use it without their knowledge. Because bitcoin is decentralized, there is no way to ban bitcoin 100%.
You still able to download the wallet and use it.
And this is not the end of bitcoin. You just need to use it without their knowledge. Because bitcoin is decentralized, there is no way to ban bitcoin 100%.
You still able to download the wallet and use it.
if the government succeeds in banning bitcoin, maybe bitcoin will disappear or die. But I think the government will never be able to ban bitcoin because many bitcoin users in this world even some developing countries have also received bitcoin.
in my opinion, the prohibition of Bitcoin is not possible, since it is not material money that can be withdrawn or terminated the emission process.
it could be the end of my career in cryptocurrency because if the ban bitcoin of course all altcoins will be banned as well since bitcoin is the primary source of income which i get financial support for my family but luckily in our country , government regulated law towards cryptocurrency and they actually supported it so i don't have nothing to worry .
There are countries which banned bitcoin but there are countries which recognied bitcoin. Some even gave bitcoin legal tender meaning less taxes for transactions involving bitcoin. That's in Germany. These rich countries are not afraid of bitcoin. Instead they are thinking of ways to cope with this bitcoin-related technology.
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 exceptionally easy to comprehend what might be the delayed consequence if this truly occurs later on. After the boycott governments could possibly give you opportunity to take out the cash that you have put into it. In the event that they give you at that point there will be freeze offering of each dime of coins in addition to a significant number of the exchangers going trick, numerous ICO ventures fleeing with reserves as no one considerations any longer. This was the market will begin drying out definitely and the costs will drop with negative exponential rates. Thos who will offer prior will get the greater part of the venture back and others will begin loosing the ROI.
One point will come when the entire speculation will be down to zero and along these lines the costs will be zero everywhere. The finish of digital money.
Some countries have already banned cryptocurrency, especially bitcoin. However, in my country does not prohibit. Bitcoin is only forbidden to trade such as selling / buying etc.
Exchanges can be regulated. They can be taxed, monitored, and even banned. Governments have enormous power over these companies - and the Chinese episode made that clear. However, when the analysis starts for the currency itself, we can say that state law is totally inefficient in stopping bitcoin. In fact, almost useless.
Governments cannot ban Bitcoin while the internet is still in existence. Also, once the people believe in Bitcoin and choose to trade with it, Bitcoin will forever live to its expectations. The governments can only impose few regulations to institutions that come out transacting with Bitcoin.
Even now there are ban over bitcoin as well cryptocurrency on various countries. Some has taken back the ban understanding its need, while some has been under hard study to make use of it in an effective manner. From my experience nothing could happen even if countries ban bitcoin, because one who believe in bitcoin will continue using bitcoin overcoming any problems.
There is no doubt that bitcoin is banned by the government because government will never accept bitcoin.
It doesn’t matter. The government can ban bitcoin now or in the future but they can not kill bitcoin even how hard they try.
Even they government manages to pull this thing then blockchain websites will have .onion domain and can be explored through tor browser,
@least that's what I think.
@least that's what I think.
Whether with this the government will support with the existence of Bitcoin at the present time or do worse things.
If government bans bitcoin, it just proves that the government only cares about their profit. They don’t see that how bitcoin can help people earn a lot and help them improve their life
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