Topic: What if Government bans Bitcoins? - page 7. (Read 6072 times)
Theoretically, website blocking is possible. Blocking big websites, advertising, etc. will obviously move the price down, but won't prevent people from using btc. Bans work more like a mechanism to suppress the price to the desired level, load up on btc, and then remove those bans and restrictions to sell high. Something like that - easy and obvious, but working in the long run.
Your coins exist on the global blockchain. So long as you hang on to your private keys or your seed somehow (memory) you can use or restore your keys anywhere in the world.
As we all know that bitcoin and cryptocurrency as a whole is decentralized and not easy to be controlled by anyone, the ban will only reduce investors participant but cant stop people from trading BTC since its decentralized.
If the site holds your private keys and it is shut down, yea you could lose them. Control your keys for true ownership. Move them to a private wallet.
Before taking any legal step towards banning bitcoin. The government will definitely consider the loss of investor and companies. To recover the loss, the government will provide some ultimatum to trading companies to return users investment and make an exit from the market.
Enforcing a ban on bitcoin and crypto is theoretically possible but would come as such a low cost/reward ratio they would never do it. And I don't think that governments could entirely ban bitcoins.
I think if the government forbids bitcoins then all will collapse. The money market will fluctuate. There will be a lot of companies going bankrupt. Because bitcoin is the most valuable coin. Bitcoins have a great influence on the world of electronic money. There are many people who invest in bitcoin.
As far as I know, they will not legalize bitcoin towards to the certain country like Philippines. Here in our country bitcoin is not legal because majority in the citizen in the Philippines, they think this is scam just like they hear somewhere so that they perception about in this field is a fraudulent task. If the government legalize crypto money, there have many benefits that may be cause of growing such certain county. They can levy a tax to become a budget for a country's projects. That really can develop a country.
I think, the government will not ban bitcoin in the future... They will also need bitcoin as a payment tool... Because bitcoin is the future crypto... We might be easier to make payments with bitcoin, because wallet-wallet will be easier again accessed by users... The possibility of people paying using local money will be small, because they prefer to save money and pay for it using bitcoin...
I think that even with the growing popularity of the government, it will learn to accept and legalize BTC, but if the government forbids it, I think it is quite extreme if the blocking is held, it will no longer be valuable, but I am optimistic, the government will think otherwise, they will try to think positively. take the good side and complete the shortcomings, but I don't know when it will happen
I think Every effort to control bitcoin won't work. Despite the difficulties presented by the decentralization of bitcoin itself, governments and regulatory agencies have shown that they lack understanding of technology topics, and bitcoin is one of the most complex.
Some people fear government regulations can damage it, but they don't need to worry.
It is not possible in my opinion since many countries take a lot of taxes on bitcoin profits. In addition, cryptocurrencies help the economy. That's why I do not think Bitcoin will be banned in the future.
I think the government cannot do that, the government can only give a warning but it cannot completely prohibit, not all countries ban bitcoin, the government also cannot delete all sites related to bitcoin, we must keep thinking positively that bitcoin will continue to grow and be legalized in all countries
I think that Bitcoin is too universal a world phenomenon and with all the desire of the government could not lead to the ban of this currency.
Of course, when the government removed the bitcoin around the world, there were many irresponsible causes for their overdue funds in bitcoin and they could not be recovered because I think it does not happen because bitcoin is legitimate in different countries.
No government has long resisted the idea of bitcoin, because any government understands that using bitcoin can control its citizens much better than using ordinary money.
First of all, the government cannot do that. Because the government doesnt own the bitcoin. But if the government in philippines will ban the bitcoin in here? They will not ban because it will help us to improve the society.
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 are other countries banning crypto currency but I think the citizens there still manage to invest. Maybe it is just a matter of how you handle yourself that no one will notice what you do.
As we all know that the bitcoin has be banned in main countries around the globe but some people somehow manage to trade and invest in bitcoin through thick and thin and earn quite good but you have to be aware. If government ban bitcoin in any state it will definitely has an effect on the bitcoin and bad impact on the market.
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 really see how they could censor or block bitcoin in the whole world, without huge limitations on the daily life. It could happen in a few countries such as China, but not on a global scale for sure.
Hi, everybody. I think there is no chance that governments will ban bitcoin. The world is positive about bitcoin.
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