Topic: What if Government bans Bitcoins? - page 49. (Read 6099 times)
Bitcoin is a cryptocurrency on its own.. If eventually , the government bans it(which is not likely), then usage will shift from bitcoin to other cryptocurrencies. We have coins that has proved to be better at performance than bitcoin and this will be the alternative if bitcoin gets banned. Unless they(the government) will ban the internet as well.
If my country bans bitcoin, I'll leave it.
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.
I don’t know where you are from but maybe the govt there is much more liberal than in my country India about the use of bitcoin or any other crypto currency, although Reserve Bank of India had given a 3 month window for all the investors and traders of bitcoin or any crypto currency to cash out their stock and then it imposed its rules and regulations about crypto trading which clearly stated that no user or trader from India can buy or sell crypto in the Indian market. 
the government cant banned bitcoin 100%, because as we can see maybe the ISP and the network from that country just banned bitcoin, but we can see that many ways to open it legally, like using premium VPN and other things, it will differ if the regulation in the bank account government can trace the transaction in your account
We cannot do anything if governments decide that they will ban bitcoins. But as long as they are not making any moves in banning bitcoin. I think we can do all we need to do to earn good amount of money in bitcoin.
But we can go to some country that doesn't ban bitcoin if we want to continue our journey about bitcoin. Some country doesn't and less chance that bitcoin would be ban on their country like japan because they are very strong and support bitcoin because they believe on it.
The governments can ban it but it is too impossible that all country do ban bitcoins.
I think, if the government bans the growth of bitcoin, then the development of bitcoin will be slow.
the crypto market will not reach the maximum price, the market will not be stable, even some altcoin will have no value, including every coin that in your wallet.
the crypto market will not reach the maximum price, the market will not be stable, even some altcoin will have no value, including every coin that in your wallet.
In some part you're right. Government creates some false price in the market. But they will never control it. We almost believe in grows up for the price.
The government is simply not profitable to prohibit the Crypto-currency, everyone intelligently understands that with any prohibitions, who engaged in crypto-currency and will be engaged in it. But all states understand that the place of prohibition, it is better to think how to properly regulate it that to receive additional taxes
Personally I don't think that all the world's countries will ban Bitcoins and altcoins. Today, a lot of countries are trying to create the crypto-friendly conditions (like Malta) and to attract companies working in this industry. I think that only time will show the future of Bitcoin.
Well, I will say that Not all countries will ban Bitcoin and altcoins. Japan, China and even Philippines treated Bitcoin and altcoins are one of the legitimate cryptocurrency that are available to be converted in to fiats or money. Maybe other countries will ban bitcoin because of illegal activities but i know that it will help a lot to the people who are always supporting it. It will help also the economy of a country to rise.
Personally I don't think that all the world's countries will ban Bitcoins and altcoins. Today, a lot of countries are trying to create the crypto-friendly conditions (like Malta) and to attract companies working in this industry. I think that only time will show the future of 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??
It is possible for governments to ban the use of cryptocurrencies. In fact, I think it is likely. (https://bitcointalksearch.org/topic/my-prediction-by-2025-the-us-will-ban-all-use-of-non-regulated-cryptocurrenc-3078312). Many things are prohibited by governments (drugs, for example), but whether or not a ban would be effective or not depends on many factors.
In any case, the primary result of a ban by the U.S. and other countries would be a drop in the price. If very few people use cryptocurrencies as a result of the ban, then they would not be very valuable.
Bitcoin is decentralized system and the data transaction is on miner all around the world. Government ban not give much effect to bitcoin. Right now, its hard for government to block anything in internet because peoples will find a way to break it
If the government ban bitcoin then everything will lost its value,but how can our government banned if citizens of this country economically grows or shall we say that because of bitcoin they are now living in stability compared to the past.So, by this scenario,government will not ban bitcoin because they sees that whatever things that can make people live better the government will not against it.
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??
In India as for example, Reserve bank has already banned buying and selling of bitcoins or any other crypto currencies, although it has no rights over the trading of bitcoin or any crypto currency and hence cannot stop users from trading them, Whatever be it since buying and selling of cryptos has been stoped, it will be hard for traders to convert their cryptos into hard cash, which can be a factor in either increase or decrease in rates of cryptos. 
We cannot do anything if governments decide that they will ban bitcoins. But as long as they are not making any moves in banning bitcoin. I think we can do all we need to do to earn good amount of money in bitcoin.
There are different governments and each of them has their own will or power on any decision that they will make. Bitcoin has already been banned in some countries and that is because of their existing government that treats bitcoin as a threat to them. I think bannjng it worldwide would really be impossible since many countries are having their benifit in bitcoin and has their own government that supports it.
If the government bans bitcoins, then there will be very limited uses of the bitcoin and this puts a lot of people in very precarious and edgy situation. However, that's not going to happen as many countries have accepted and adopted it as a legal means of making payments and doing transactions.
Several Governments have already given legal status to bitcoin. Because they are earning a lot from it. They are receiving huge amount in taxes. Also expenditure to print fiat currency will be saved if the crypto is used. No chance of forge currency when we use this digital crypto. So there is no reason that these countries will ban the bitcoin.
Now there are several developing / third world countries; which are still to receive any benefits from it's usage. For many countries it is also true that their reserves are going out of their country when people are investing in bitcoin or crypto currency. So many countries are trying to regulate it. Major fear behind their regulating / banning bitcoin / crypto is that they fear it will be used in terror funding; easy money laundering etc.
Though misuse of fiat is also there but crypto due to easy use and autonomous nature creates more troubles to them. That is why they think to regulate / ban bitcoin.
Now there are several developing / third world countries; which are still to receive any benefits from it's usage. For many countries it is also true that their reserves are going out of their country when people are investing in bitcoin or crypto currency. So many countries are trying to regulate it. Major fear behind their regulating / banning bitcoin / crypto is that they fear it will be used in terror funding; easy money laundering etc.
Though misuse of fiat is also there but crypto due to easy use and autonomous nature creates more troubles to them. That is why they think to regulate / ban bitcoin.
It is impossible because many businessmen and huge inverstors also huge society are investing in bitcoin so it's not easy for government to ban bitcoin.
I do not think there will be a ban on this issue. At the very least, many countries will not make these prohibitions. But if something like that happens, we will all see how strong Bitcoin stands.
A big effect to fall down to the bitcoin if the government of the country will banned bitcoin.And Im hoping that our government will accept bitcoin as a digital currency globally.
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