Topic: What if Government bans Bitcoins? - page 9. (Read 6112 times)
If the government prohibits bitcoin. It will be a disaster for the government and personally for me. I do not want to lose my job.
now not all countries legalize bitcoin, in my country bitcoin is illegal, but my government isn't really blocking all sites related to bitcoin. they only leave as long as we don't use transactions for the real world. maybe if all governments disallow bitcoin, our coin will be gone.
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 the government will be able to block crypto currencies around the world because people nowadays are starting to learn cryptos and is giving them a lot of opportunities as they progress. People are earning and the government knew that and in most countries, cryptos are accepted and is taught in schools for the future generations. The best action the government can take is to regulate cryptos to lessen the illegal activities that most people do.
The government can not support bitokoy as much as necessary. It does not affect its formation and development. I think that the government will soon understand this, and if it wants to get its share of revenue from bitkoyn, at least it will stop fighting it.
If government ban the use of btc or other form of cryptocurrency, it will still continue to be existing and trading because btc is decentralized in nature and not easy to control by any body.
governments also ban drugs, sex trafficking, and so many other things, but they simply cant. Bitcoin is even harder to ban as its completely on a non regulated and decentralised ecosystem
why would they ban cryptocurrencies, many countries itself earning money and also many companies ar trading cryptocurrencies, so they wouldn't support it.so it's not gonna happen.
Government is already banning cryptocurrencies in many countries because nowadays almost all the illegal transactions are done through the cryptocurrencies because they are hard to trace... in fact in the future government will earn 1 Bitcoin and other cryptocurrencies as it is becoming one of the mainstream and it is just a currency so it can't be illegal
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.
The government needs time to be able to analyze all of that, as we know that what the government does will greatly affect the condition of its citizens. What I know is that the government wants the lives of its citizens to feel comfortable and happy. The application of Bitcoin as a financial system needs to have a regulation so that if someday Bitcoin will not interfere with the economic stability of a country.
It is possible but if bitcoin become more easily accessible to more countries and people know more about it . Some governments ban it because they fear what they do not know and what they cant control
Indeed, even now there are ban over BTC also cryptographic money on different countries. A few has reclaimed the ban understanding its need, while a few has been under hard investigation to make utilization of it in a compelling way. From my experience nothing could happen regardless of whether countries ban BTC, in light of the fact that one who have confidence in BTC will keep utilizing BTC conquering any issues.
for a government ban bitcoin they need some strong evidences that their citizens are being scammed or system is being hacked. There are countries that bitcoin is already banned. Maybe they did that for the security and safety of their people. BUt still they can use crypto but they need to buy vpn.
Governmental regulations can only limit the patronage of Bitcoin but cannot completely ban the transactions of Bitcoin. Bitcoin is decentralized and works fine whenever there is an internet sources, the more reason why there are merchants in countries where Bitcoin is illegal. These merchants trade the Bitcoins and move to other countries to exchange for fiat. Some also utilizes escrow markets.
Many players still believe that Bitcoin and other crypto-currencies will not be managed by any government or country. In fact, when Chinese government officially introduced the electronic money ban, the players in the country immediately turned to the floor of Japan. The price of Bitcoin was down a bit, then it jumped and continuously broke the price record.
The beauty of bitcoin is that it is both decentralized and trustless. Because of this, no government can do anything to stop or alter Bitcoin. Governments can pass all the laws they want to attempt to criminalize buying bitcoins, using bitcoins. but they are powerless to stop or change Bitcoin itself
I think there is zero chance that administrations would boycott bitcoins. Most nations including USA, gains a considerable measure of duties from bitcoin benefits. For what reason would they stop such a procuring? other than I imagine that most store organizations and contributing organizations contribute and exchange digital currencies, they would not acknowledge such a boycott. All they like is fud and fomo and Actually nothing will happen. Despite the fact that legislature have no reason for prohibiting bitcoin and some other crypto, But in the event that it happening then you don't have to stress.
In future there will be a few trades that will have add up to security of your records.
since Necessity is the mother everything being equal. So Keep yourselves quiet and Keep exchanging.
In future there will be a few trades that will have add up to security of your records.
since Necessity is the mother everything being equal. So Keep yourselves quiet and Keep exchanging.
Being banned with bitcoin is a difficult decision. Because many people do not agree with it especially the people who know the real with it. With our coins on the wallet if we can not stop it, we can sell the cryptocurrency to another country.
i think it is not possible to govt. bans on bitcoins . reason is that bitcoin digtal currency moving one person to other person by wallet on computer so govt till today did not know how many bitcoin in curculation in world . now a day all conturies in world not interested on bans on bitcoin but some contries allow bitcoin in their contry .
If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved but people finds the way as it going in countries India and China.
If that thing will happen I really don't know where I can get additional income in future, the really things here is when I was entering in bitcoin, I have so many plan in my life that that bitcoin is part of it, and I can't imagine my life in the future without bitcoin, because bitcoin is the answer of all my payments and if hat matters will disappear what will I do.
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