Topic: What if Government bans Bitcoins? - page 44. (Read 6112 times)
It already happened in other countries but the demand is really high that the Chinese would even migrate their business to other countries to continue. Government can't stop people's passion in bitcoin so the majority will change that decision in the long run if they have banned it.
at this time the government in my country still has not legalized bitcoin and bitcoin can not be used to buy goods directly, but little by little the development of cryptocurrency and bitcoin started good so I'm sure someday our government will legalize it.
Just like how government banned the use of drugs but still people are using it low key. I think banning of bitcoin can't really stop people from using bitcoin. Hell if my country banned bitcoin I will still use and buy it but not out in the public but on the down low.
if it does happen then certainly all the coins are stored therein will also disappear, really apprehensive .. !!!
The situation will be similar to drugs. But unlike drugs which are harmful, Bitcoin is potential and has many good sides as well as innovative characteristics. So I guess there will be a fierce opposition from frenzied investors. In case the opposition doesn't bring any good effect, Bitcoin will remain active underground like drugs.
To see what will happen, look at drugs. They are banned for sure but it doesn't mean it has disappeared. Every activity is underground. Likewise, Bitcoin, once getting banned, won't be legally used but will be traded underground as long as there are still demands for Bitcoin.
I think this will never happen. I do not even want to think about it. Blockchain is the future. Because economically literate and generally some of the most developed countries, such as Japan and Switzerland, are not what they blocked, but on the contrary, they supported and actively develop crypto-currencies !!!
Bitcoin is a decentralized cryptocurrency. It means banks and governments have no control of it. However, they could only regulate the use of Bitcoin. A common reason why Bitcoin was banned in some few countries out there because they had a lot of misunderstandings about its technology.
"Bitcoin is a decentralized cryptocurrency. It means banks and governments have no control of it " This is the main reason most governments take a decision to ban cryptocurrency because they can't control it, But there are so many features have but the most government no get any use of this technology for their works that's the problem, If government understand the features they will not ban cryptocurrency because cryptocurrency is the future
I don't see that happening at all... How could government ban such a lucrative crypto currency, i think there is no chance that governments would ban bitcoins. Because Most countries like USA and others gains a lot of taxes from bitcoin profits. So Why would they stop such an earning? besides most financial companies now invest and trade cryptocurrencies, so it won't sound well to any government stopping it at any time.... Instead it spreads to other countries more .
Bitcoin is a decentralized cryptocurrency. It means banks and governments have no control of it. However, they could only regulate the use of Bitcoin. A common reason why Bitcoin was banned in some few countries out there because they had a lot of misunderstandings about its 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??
currently some countries have banned bitcoin.for example china, they forbid bitcoin because they make their own coins.
but also many countries that receive bitcoin well, no need to worry about it, I am very sure one day bitcoin will be accepted globally. in the future
I think that the world government won`t go to extremes and prohibit bitcoin. Such a step will cast doubt on its activities. People will begin to lose confidence in the authorities, this can lead to public protests and strikes. In my opinion, the best step for the governments of the countries is the legalization of the crypto currency at the state level.
Bitcoin will still continue to exist even though the government ban it because its decentralized and not quite easy to control. It might only cause the price to fall because people will be panicking in selling.
If the government forbids bitcoin we can still use bitcoin I think. Because even though the government forbids bitcoin we can still use the bitcoin we have. I mean we can still invest in bitcoin. So do not worry if it should happen. Because bitcoin can not be controlled.
The thing is that in order to ban bitcoin you need to ban the Internet itself, which would already be a massive attack on the freedom of speech. However, governments still can make using bitcoin more difficult.
If the government forbids bitcoin we can still use bitcoin I think. Because even though the government forbids bitcoin we can still use the bitcoin we have. I mean we can still invest in bitcoin. So do not worry if it should happen. Because bitcoin can not be controlled.
If government ban bitcoin then there is no problem for bitcoin lover we can trade with bitcoin if we have internet connectivity but possible scenario is many peoples afraid to invest in bitcoins and crypto currency market get less investors but government can control their countries exchanges but can't control international exchanges and sellers of localbitcoin.com.
Whether the bitcoin is banned and we lose access to it. The price of the market will fall and our coins will no longer be seen. But I think that's not going to happen because big money is involved in the crypto currency and it can get huge taxes from our governments. So do not worry about it because it will not happen.
A government cannot ban bitcoin. You said it your self, it is decentralized. Bitcoin is not owned by the government. And the question for that, why will the governement ban bitcoin? Does it have an effect to the economy? As for me, it helps more people to get more income tham relying in the government.
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.
Your government are very smart to accept bitcoin cause they know that bitcoin is big help to grow the economy of your country and also they they know that bitcoin is a big opportunity for there people to become successful. I think that country that banned bitcoin I think they didn't know the true value of bitcoin 
I think the government will not ban bitcoin in the future, because bitcoin improves the welfare of the public, and it also will not happen if the government blocks all existing wallets.
but it could be banned in the future, because we never know how the government's decision on the longer bitcoin state can provide a need for its people Jump to: