Topic: What if Government bans Bitcoins? - page 37. (Read 6099 times)
Actually, the government already banned bitcoin in some countries. Even it is banned, it is still alive and works in deep web.
There are countries that have banned bitcoins, but people still use them, so I think even if they ban bitcoins, they still can not stop people from using bitcoin or other cryptographic cultures.
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??
Since bitcoins are decentralized, it is far from being banned by the government. I doubt there will ever be a time the government will ever get their hands on all of the bitcoins. Probably the only control they have is on the exchanges and when that happens, everyone will most likely go underground.
If the government will ban Bitcoin and other cryptocurrencies, it just shows that they are afraid cryptocurrency will take over fiat currency and banks. But nevertheless, I don't think that the rise of Cryptocurrency will be paused and will be stopped if ever the government will ban cryptocurrency because they can't control cryptocurrency and they can't control the people who invests in crypto.
if prohibited of course the value of the investment will also decrease. but the question is why the banned? I certainly would not agree. because bitcoin could be the asset of its citizens which of course will affect the value of per capita income figures of citizens .
If at any time the government forbids Bitcoin, block all sites related to Bticoin, then I will look for ways how I can still get in and work in Cryptocurrency. And If there is no way I can do to continue my activities in Bitcoin and Cryptocurrency, then with great heart I will stop playing Crypto.
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.
This risky but great project, I mean crypto, will not die and will not be defeated! I am sure that he government will sooner or later accept it as the best currency option being convenient and safe. A lot of countries have accepted it
Bitcoin is risky but it is worth it. Bitcoin will not die and never be die. I hope that one day many countries are accepted bitcoin cause bitcoin have great potential to help economy of every country to become successful in the future and the country who accepted bitcoin as there partners in business you are open minded in cryptocurrency.
the government forbids the bitcoin to be certain. but if the state disconnects the bitcoin wallet it is not possible. because as long as the internet network in the world is still there definitely bitcoin will remain alive will not die.
Before banning the bitcoin in a certain country there is a procedure in the government whether this policies they will impose will benefit all or not, there will be votes to tally if they will ban cryptocurrency or not, it is a pain-in-the-ass procedure that it will take a long time for these policy of banning bitcoin is in effect, government also should hear out the voice of people whether bitcoin benefits them or not too.
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??
Some countries already banned bitcoin. Yes bitcoin is helpful and has made a huge impact on our lives but it wont matter when it comes to government. They want to control over everything. If it will happen , its hard for us to adjust since some of us are living and sustained using 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??
Bitcoin has a great deal of help to us especially in the government because they can earn a large amount of tax. So it is impossible to happen because many people do not agree with it. So let's not think about it because the bitcoins can not be stopped and it's going to be our future money. Be prepared for the crypto currency revolution where our money can not be held and it is usable with our android phones.
You need to ask this from people in which countries have banned Bitcoin, like India Bangladesh and some of the people I think they can best describe how to live up to the ban.
I think technically it is impossible to prohibit Bitcoin and all kinds of electronic money. And many government officials are not bad at getting these assets. Self Blockchain is very useful - I do not understand such arguments.
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 has a great deal of help to us especially in the government because they can earn a large amount of tax. So it is impossible to happen because many people do not agree with it. So let's not think about it because the bitcoins can not be stopped and it's going to be our future money. Be prepared for the crypto currency revolution where our money can not be held and it is usable with our android phones. 
I do not think this is a problem, the fact is that many countries are banned bitcoin but proven that bitcoin users are so loyal that bitcoin can survive until now, for example china is banned bitcoin when it became the largest bitcoin user, but it turns out it does not affect time long.
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??
The answers is simply those coins will be in vain. If Bitcoin and other cryptocurrencies get banned across the wold even those trading platform that is connected with it will vanish in instant. However, don't be afraid because it is impossible to happen moreover, other countries like Japan have seen the potential of bitcoin that is why they legalize it. Therefore, transaction with regards to bitcoin will not gone but it will not be the same as it like before if bitcoin prohibited. 
If ever they did ban access to exchangers/wallet sites, there are a couple of ways to access them from spoofing our IP addresses or using third party access (not recommended though). The people will always find ways to do it no matter what. If worse comes to worse, if you don't have the private key to your wallet, it's gone.
Banning it in some countries are possible but banning it all over the world is quite impossible. Besides, many countries already accepted the crypto, and actually made an atm for btc. In other countries, btc were already accepted as payment in exchange for their goods.
Yes, banning it worldwide is impossible but if government will ban bitcoin in a particular country, many people will be mad and a lot of them will be disappointed. I think banning BTC is an old idea now, governments now understood they can make money from it, and probably they can even stop it, too late.
Local government plays a big part in the world crypto currency and bitcoin. They have the power either to ban it or make it legalized that can be difficult for trading and selling purposes if the legalization is not granted. However, there are also countries that are making it neither legal nor forbidden which is somehow a good thing.
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