What if Government bans Bitcoins? - page 40.

fishball

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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??

Coreect me if I am wrong with this-it does not matter whether the government bans bitcoin since bitcoin is decentralized it can still function or operate freely. So i think it is useless banning bitcoin.

Nunii

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If all the countries will ban it, then we are doomed. But I guess not, they are just looking for ways to reasonably regulate it and minimize the risks of users' being scammed and hacked, security overall. After which, we can go all the way and explore every dimension, bitcoin and blockchain technology has to offer.

GDragon

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Maybe you are new is this field. In fact, some of a government we're already ban bitcoin then the result was dramatic movement of Bitcoin's value. Today bitcoin has continuing to correct the market value and some of investor also was affected.

camily.june24

newbie

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Government can not ban Bitcoin because it always acts in deep web

mcmchdlg03

newbie

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On the off chance that an administration chooses to make exchanging or having Bitcoins unlawful, inquiries will be raised about how such a boycott would be upheld. It is outlandish for an administration to seize Bitcoins, except if the private keys are given over.

Be that as it may, the lion's share of nationals and organizations like to remain erring on the side of caution of the law. The interest for Bitcoin would fall an administration chose to boycott it.

all trades in that nation would likewise be covered and purchasing/offering Bitcoin would be troublesome and dangerous this would suffocate Bitcoin in that nation and the administration's destinations may be accomplished.

The crypto is as of now illicit and out of their achieve they can't make a move so the inquiry is the way legitimate the cryptographic forms of money can get the chance to get brought up in esteem and be more steady.

jakezyrus

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if ever government ban bitcoins then bitcoins will be gone but only bitcoins and there are still a lot of cryptos out there that we can still use. Anyways ban may seem imposible to happen globally because we already know that bitcoin is still indemand due to its usefull ness.

though i heard some country did already ban bitcoin and it did somehow affect the current price of btc.

Shreek

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IDENA.IO - Proof-Of-Person Blockchain

there is always a way to get through the big wall that is blocking from the government, but the price effect will not be unstoppable
the government is very influential on the development of Bitcoin, if they make a ban, then the number of users from the related countries will be reduced drastically, which causes will panic sell and price will drop

Lucifers

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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??

Of course the bitcoin in my wallet will still be there, but it's another story if the government is hunting down the wallets of bitcoin users. I'm sure the bitcoin will be taken by the government because no one will be allowed to use bitcoin anymore. Waiting for time so the government does not tire bitcoin anymore is probably the right choice.

Pinkris128

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Quote from: marlouied04 on July 18, 2018, 03:15:18 PM

it is very unfortunate. because people cant experience what bitcoin does. Many people are very happy in bitcoin because its more freedom in here than in the banking system.

If bitcoin was ban by the government then we will not experience the benefit lf it. Peope will just rely on their real job to have an income. Lucky are those country where bitcoin was not ban because they can earn more money and extra income from it. But still people can survive without bitcoin because even it was not invented we people can still be happy with the fiat that we have.

ELOCIN

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W12 – Blockchain protocol

That's still fine with me though it will be very hard to accept it at first. I gotta move on and find another ways of doing crypto because i believe there are still other countries who are using cryptocurrencies as part of their economic progress.

marites

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If a government banning the operation or using of bitcoins to their society it means bitcoins will have no space to use on their country that is the end of bitcoin.,but you can use bitcoin outside of your country.

muratdur

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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 cannot even imagine what would I do if my country will forbid and ban cryptocurrencies. Literally I cannot move out from country because I have my family here my church, but I don't know where I'm going to go.

BIOX

newbie

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I think some countries like China won't ban it because around 80% of bitcoins (BTC) being mined in China, the Chinese government will have a major influence over the market. Of course some countries have strict laws against BTC but it is quite weird.

Marlo Stanfield

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Quote from: lazygin006 on July 18, 2018, 03:43:12 PM

It would be a disaster if most governments start to ban Bitcoin. However, I don't see that happening as Bitcoin is not just a money making machine. It is rather a revolutionary technology that will help with the growth of how we deal with our money and currencies in the future.

But if they are worried that Bitcoin is going to have a negative effect on their own currency that they issue with their central bank, then it isn't too far of a stretch to say that they might try to ban it. Either in just words, or actual actions online to make it more difficult to run nodes and such.

Liternyy

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the government does not make sense to prohibit bitcoin, because it has so many advantages, it will be able to help the world economy, eliminate corruption with which everyone has been fighting for so long, and finally bitcoin is a new perfect currency for the future, which if any country prohibits it luxury of civilization and the progress of new technologies!

lazygin006

newbie

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It would be a disaster if most governments start to ban Bitcoin. However, I don't see that happening as Bitcoin is not just a money making machine. It is rather a revolutionary technology that will help with the growth of how we deal with our money and currencies in the future.

marlouied04

newbie

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it is very unfortunate. because people cant experience what bitcoin does. Many people are very happy in bitcoin because its more freedom in here than in the banking system.

Blackmoon84

newbie

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I think it is not easy the reason some countries have made the national currency to the state and recognized the world,
like japan but there is a lot of bad information about bitcoin from the past and until now there is no real proof that bitcoin is illegal and also endangers state finances and it is important to help improve human resources if bitcoin persists, as it is very helpful to me in economy.

oni4an

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And why do they suddenly forbid? Are you reading the news? On the contrary, all governments allow Bitcoin one after another. It would be interesting to hear the reasons why it should suddenly be banned?

Zicadis

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Dump it!!!

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.

Its possible to do this on a national level but bitcoin having grown some roots I think its too late for this even the managed to blacklist some bitcoin sites people will always find ways to bypass the site blocking as this isn't all about games and fun, its a lifestyle to many!

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

In that case what would happen to our existing coins held in those wallets??[/b]

Funds will remain there safe and sound unless someone other than you has access to the private keys you will not find your crypto coins.

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