Topic: What if holding the bitcoin becomes illegal? - page 5. (Read 2152 times)
doubt thing that just storing bitcoin is an illegal act even the government itself does not know who is storing or using bitcoin now. but if true just storing bitcoin is an illegal act I'm sure the demand on bitcoin will decrease.
I think if it becomes illegal, it would be a big waste of money for those who are holding a big amount of bitcoins and already planning to convert. However, if holding bitcoins would be illegal, then there is no use of giving salary or a reward of bitcoin from the campaigns. But i hope that this wouldn't happen because bitcoins increase in any moment so they could earn higher than what they paid for.
No,even if it becomes illegal and you have lots of bitcoins in your wallet,just sell it to any of your friend who is abroad and ask him to send money to your bank account.Just simple.No need to worry about.Even i also had thought of applying this plan if bitcoin gets illegal in india as i have friends abroad.But thanks to god,indian government has decided to legalize bitcoin.So,i don't have to worry any more about that.But,i think that no country here after would try to ban bitcoins as they know very well that bitcoin is unstoppable. 
I have seen threads like this before, and I think that you should have read more in bitcoin forum so we can avoid the repitition of topics. Anyway, if bitcoin will be banned then I have no choice but to stop using and earning bitcoins. As long as it's legal, I will continue using it because for me it is a good thing and a good source of income.
If Bitcoin ever gets made illegal you just throw your coins in a strong altcoin, litecoin or Ethereum.
LOL.. Do you really think that the authorities are that stupid to allow the possession of altcoins, that too after banning the Bitcoin? If they are going to ban, then all the crypto-currencies including Ethereum, Bitcoin Cash, Ripple, Deeponion, Monero and Zcash will be banned. It is not like they are banning one crypto-currency and allowing the use of another.
All the countries of the world will not prohibit bitcoin. If individual countries do this, bitcoin will flow into those of them where it will be allowed. In addition, the state can prokontoliruyut only settlements involving legal entities. Settlements between individual citizens and the storage of crypto currency the state can not control.
There is no way that the government can trace out who is using bitcoin. Therefore, you do not need to worry about this. If bitcoin is illegal, the price will be much lower. However, I believe that more people will learn about bitcoin and they will realize about the fact that the gvernment can not know about those amount of bitcoin that you are holding and they will start buying bitcoin for themselves
Yes bitcoin is useful but it only depends on the country on how they accept bitcoin if it is a legal or illegal currency because it is the only way to protect their citizen from the possible effect that may happen in their territory.
What if breathing becomes illegal? 
Most countries had already imposed laws regarding the use of bitcoins. This is their way to stop money laundering, the use of bitcoin to help finance terrorist, tax shield and many more.
There are also countries which makes bitcoin illegal as a currency.
Here are some info why some countries made bitcoin illegal : https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
There is no way that the government can trace out who is using bitcoin. Therefore, you do not need to worry about this. If bitcoin is illegal, the price will be much lower. However, I believe that more people will learn about bitcoin and they will realize about the fact that the gvernment can not know about those amount of bitcoin that you are holding and they will start buying bitcoin for themselves
Bitcoin isn't tied to whatever regulations the government forces through ~ no one in the world has the ability to prevent me from holding/trading/selling Bitcoin, and that's why I love Bitcoin's decentralized nature so much.
Ultimately, I am glad that not all countries are sitting on the same level, because if that would be the case, they could pool all their laws and regulations together against crypto in general, and that is another benefit.
The only negative aspect of a ban is that this market will need to operate on a closed and much smaller scale, but at the end of the day, people will still find ways to make use of Bitcoin.
Ultimately, I am glad that not all countries are sitting on the same level, because if that would be the case, they could pool all their laws and regulations together against crypto in general, and that is another benefit.
The only negative aspect of a ban is that this market will need to operate on a closed and much smaller scale, but at the end of the day, people will still find ways to make use of Bitcoin.
This is not going to happen because cryptocurrencies have crossed or passed all those levels and now its heading in a new direction. If it was in the beginning, then ok , it was easy to ban bitcoins and other altcoins. But now the scenario has changed, everyone started using bitcoins and bitcoin has become one of the legalized or standard payment methods whole over the world, even though its not officially legalized by any government.
This has topic has been discussed many times on this forum, you can do a proper search to locate the related threads.
little afraid if that happen, like the video when bitcoin raid, some traders in russia get arrested for trading bitcoin and the video said in rusia hold bitcoin is legal, but trading activity is illegal, and then traders get arrested like criminals
Just imagine what will happen if once the government will ban Bitcoin ?
Will it really happen? Possibly. Or maybe not. Well, there is a chance that some authorities may decide against Bitcoin eventually and rule that it is already illegal to possess any Bitcoin or any cryptocurrency...most probably regimes which have the same mindset like NoKor would do this. There are governments having their own agenda and these are the leaders who are control freaks meaning they always hate what they can not control and they are afraid that Bitcoin can be a way to empower the people and for them to one day break away from the shackles established by those in the helm.
In the short-term view, there can be chaos in the market if big countries (like China, USA, India, Russia, Japan) would one day decide to stop their people from participating in the Bitcoin market and community. As of now, the most likely a candidate to do is, of course, China but still we are hoping that eventually the country will realize that they will lose more if they will choose never to be a part of the Bitcoin bandwagon as there are many miners located in this country and the business of mining is bringing in many benefits like jobs and consumption.
There is no way for bitcoins to be considered illegal and no one will be able to stop this cryptocurrency. Each day more and more people are coming into this bitcoin community. As there is no central control for this technology bitcoins can be transferred easily to other altcoins and peer to peer transactions can be made online without having to worry about the government crypto ban.
If bitcoin becomes illegal then I think a lot would be notorious illegal businessman and women. Or there would be a syndicate operating down the low with bitcoin transactions. LOL!! Anyways I don't really think bitcoin will become illegal though if governments would take over and hold bitcoin then a lot of corruption will happen because there is money involved.
Just imagine what will happen if once the government will ban Bitcoin ?
https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
It's already be illegal, in my country government ban or not allow us to invest or use bitcoin so we hold or trade or use bitcoin as illegally but I think it does not matter as long as there is no legal rule from the state that can get us into legal trouble just by investing or using or trading bitcoin. https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
Bitcoin holding will not become illegal because there is no law that is against bitcoin holding and there is no bad thing in holding bitcoin and to be honest, it is helping the bitcoin holders to earn money without working and that is a great way to have an asset by just buying and holding bitcoin for the future purposes.
Just imagine what will happen if once the government will ban Bitcoin ?
https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
Well, that's the worst nightmare for all who still holding bitcoins. All of the btc invested and all of the btc still inside your wallets will become valueless all of a sudden. All of the effort, time, and sacrifice tha you do just to earn will not give some benefit in return, it's like you're in the highest peak of the mountain then you suddenly fall down to the bottom. https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
I think the only way to avoid thia misery is when you trade your btc into other cryptocurrency before the ban and withdraw all of it to cut the future losses. (I hope this won't happen)
Just imagine what will happen if once the government will ban Bitcoin ?
https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/
Recently I read an article on Cointelegraph with the exact same points
There has been a recent spike in articles and threads on this forum related to bitcoin ban, thanks to all the FUD. The last time a country banned bitcoin was in September 2014, nothing after that. At a time when a few countries have already legalized bitcoin and a few other are working on the legal framework to regulate bitcoin, I don't know why a rumor that the Chinese government banning bitcoin is being compared to all the governments banning bitcoin?
Nothing is stopping governments from banning bitcoin, but if a decentralized currency can be indirectly regulated then that is the better option than banning it and that's what some countries did and are planning to do.
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