Topic: What if Government bans Bitcoins? - page 56. (Read 6112 times)
Theoretically yes, Government can ban Bitcoin usage all over the country but practically No, they will only cause FUD to drop the value of it and use the opportunity to acquire more of it for future profit because the Government understand that the community want freedom on their Money and Bitcoin can give them that. My view about this
if the state has banned and blocked the bitcoin wallet, we can not do anything because if we break it there will be a legal rule we will accept, but I'm sure bitcoin will not be banned in most countries even though there are now some the country that forbids it, but still more countries that legalize it than forbid it.
Bitcoin is such a big help for us it gives an extra income so i can pay some of our monthly bills. I can't imagine if our government will ban bitcoin.
That's the main problem that BITCOIN is facing, governments are really against in Bitcoin without looking for its advantages. But, I still believed that Bitcoin will not easily be banned based on the people who used Bitcoin, and most country have a bitcoin users already. I was so happy last month when I heard about one country who approved bitcoin and that is Germany. I do hope, that more countries and its governments will allow and approved Bitcoin.
It will be very complicated
Fortunately, this does not seem so
Some governments have approved it
And others turn a blind eye
And we always wait for the best
Fortunately, this does not seem so
Some governments have approved it
And others turn a blind eye
And we always wait for the best
Governments do not always like btc, but the heads often own it in order to get political asylum when needed. They will not be able to carry their assets overseas when sealed
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 the future, governments will more regulate the crypto currency and will introduce certain restrictions on it or completely ban certain types of it. For example, even Japan, which is friendly to the crypto currency, now prohibits the full circulation of coins with high level of anonymity - Monero, ZCash, Dash and others. Now the state pays more attention to the general acceptance or non-acceptance of the crypto currency. Later, when they determine this, they will regulate it in more detail and then, depending on the specific characteristics of the crypto currency, they will introduce a partial or even complete ban on certain types of crypto currency. A complete ban on all decentralized crypto currency is already unlikely.
I hope that the government will not forbid it to accept it as the Japanese government did
There are so many people missing out here in the forumand all investors will lose their funds in bitcoin of course and will also lose bitcoin in banks I think it's great to suffer and lose work like a bounty hunter.
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
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??
There is some countries already banned bitcoin in their country, but if the world government implement and introduced a new coin to replaced bitcoin this will allow the government to have a full control to their coins, this will become a big problem to us bitcoin holders and users, the possibility to banned bitcoin if this happen is huge.
This happens very well when Korea bans virtual currency and the times China prohibits ICO. The market is flooded with red. They even sink deep
That would be a loss because the capital from that country would be withdrawn. And will lead to the price of coin will decrease without braking
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 don't think that authority will spend a lot of money to block bitcoin in all sites in order to have totally banned in bitcoin. but some other investor and government itself show interest in blockchain technology.
No need to say if. It happens right here. Chinese government heavily regulates bitcoins (Just like with everything else)
We are in a CLOSED economy. we cannot do much
We are in a CLOSED economy. we cannot do much
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 possibility is very big, because if the government has banned bitcoin and banned all exchange sites, then the wallet was also no meaning anymore. 
Sure the government got the power to block the site, but there are many ways to bypass it, you can used vpn or tor browser, and as long as not all government in the world banned bitcoin then we still can figure way to cash out and bitcoin will still survive so don't worry if a government banned bitcoin
Logically correct, as long as there's still countries that will continue to recognized the value of bitcoin then we are still have a way to sell out our remaining coins, even the country we are living with are already declared or completely ban bitcoin, for sure if there's a will there's a way and if its the best place to earn for sure many people will still participate and after some time when that particular government start to realized the potentials of this internet currency they will begin to adopt and forget about banning the coin.
i don't know if all country bans crypto market then the crypto market will go where,the crypto market very difficult to grow up because all country will try all way to ban crypto market and we will be limit,the crypto market will die,but now i see there are many country support crypto market so i beleive next many year there are many country accept crypto market
If Bitcoin will be banned by the government of the country I am a citizen, then it is very unfortunate for me. My country recognize the worth of crypto currency and Bitcoin is legal to use in the different transactions. That is why, I really don't think the government will eventually banned crypto currencies in my country.
If they are developed countries, big countries such as China or Korea will surely be a huge loss to the market.
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