Topic: What if Government bans Bitcoins? - page 52. (Read 6099 times)
It is simple when the government will ban Bitcoin we will not be able to use it.No doubt that Bitcoin is decentralized in nature and government has no control over it but still we will not be able to work with it.By this I mean that government can't control Bitcoin but they can control the exchanges that help the users to convert cryptos into fiat.So if the exchanges will not work then how we will use it ? If some how we get some BTC's in our wallets then how we will use it ? We cant use BTC's directly.We have to change it in fiat which we will not be able to do.So if government bans Bitcoin then we will not be able to use it.
If that would happen , surely they will do many ways to stop crypto. But I don't want to stick on thinking about that matter. Nobody can predict the future. What happens in the present then let it happen. As for now, if bitcoin is allowed in our country, then we should embrace it and use that freewill privilege in good ways.
Nobody can ban decentralized currency 
If Govt bans it I guess it turns centralized
They would of done this by now.
People are using crypto currency despite the fact that many governments do not like bitcoin and crypto. Though there are several nations on the other hand; which have granted legal status to this currency.
Crypto currency is the future of the fiat. In the years to come bitcoin /crypto will definitely replace current system of physical bank notes though not fully and there will be small percentage of fiat currency in usage.
Governments will slowly understand the necessity of crypto world though it may take few years. Also do'nt worry; if you have some coins in your wallet and your country bans it's use you may to the other country for tourism where crypto is legalised. No problem; enjoy and shop there.
But the question raised is very good.
Crypto currency is the future of the fiat. In the years to come bitcoin /crypto will definitely replace current system of physical bank notes though not fully and there will be small percentage of fiat currency in usage.
Governments will slowly understand the necessity of crypto world though it may take few years. Also do'nt worry; if you have some coins in your wallet and your country bans it's use you may to the other country for tourism where crypto is legalised. No problem; enjoy and shop there.
But the question raised is very good.
Correctly suggested and quoted.Thanks!!
I cant imagine my life if the goverment banned bitcoin., maybe many people who work and invest in bitcoin will suffer very well.
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 agree with that it is interesting for people to earn money and a great opportunity and it will help our economy to grow. It will help people don't have job to get salary bitcoin will help without government.
It could happen but near impossible basically they would have to unplug the internet and that would never happen. Hackers , cypherpunks etc would find away.
Nobody can ban decentralized currency
First and foremost, 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. They need some sort of education about Bitcoin to make things clear for them.
No they don't because they can't. On my own perspective, no one can ever ban or control the bitcoin because no one is in control with it. Even the president of the particular country don't have the capabilities to ban bitcoin or cryptocurrency.
A recent report published by the European Parliament advises policymakers and regulators not to ignore cryptocurrencies or attempt to ban them. It discusses how crypto should be treated, their taxation.
So taxes will still be introduced.
So taxes will still be introduced.
Then you only have three option stop earning in it ,Continue or move to another country where they don't ban Bitcoin,
If you choose to continue without leaving your country then you are going to be charged by the law since your country or government bans it.
So if you really want to earn in crypto and think that you could earn a living from it and earn more than a regular wage earner could earn then move to another country.
If you choose to continue without leaving your country then you are going to be charged by the law since your country or government bans it.
So if you really want to earn in crypto and think that you could earn a living from it and earn more than a regular wage earner could earn then move to another country.
Will be a huge obstacle to the development of bitcoin and altcoin! I said that most countries will support Bitcoin and altcoin! But it takes time for every nation to realize it!
Yeah, not only does it "take time for every nation to realize it," but it'll take quite a while for the governments to find a way out of the stalemate: on the one hand, it could bring them big profits, on the other - they can't control it, so it could potentially bring about some trouble, which isn't something a government would like to get into
I don't want affraid that bitcoin will banned in my country, because my country are also bitcoin friendly,to use as sudsidy to paper money so that I must confidence to say that ,maybe it will depend upon to other country,
it would go undercover and start breaking down the financial institutions that have made the ban possible.
and XMR would gain a lot
and XMR would gain a lot
Will be a huge obstacle to the development of bitcoin and altcoin! I said that most countries will support Bitcoin and altcoin! But it takes time for every nation to realize it!
I think if the government bans bitcoin then we cannot use bitcoin for free again and if we want to use bitcoin, then we need to stay under the radar and we need to use VPN or proxy. it is not good if somehow the government bans bitcoin and they can make many people which join cryptocurrency will become desperate and sad. I think the government will think about this and they don't ban bitcoin so people can still use bitcoin without any worry.
I hope the government can think that far, because if bitcoin can be eliminated by the government I think unemployment will increased because bitcoin can provide jobs and income for those who deserve it.
When the government decide to legalize bitcoin, they have calculate the things very carefully but if in the future, they decide to ban, it's become their policy to improve the regulation about cryptocurrency.
As we know cryptocurrency still not being accept on all country because it's volatile and some recent news about hacking incident.
As we know cryptocurrency still not being accept on all country because it's volatile and some recent news about hacking incident.
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