Topic: What If There Is A Ban (Read 927 times)

As we can see through entire history human communities surely united in states, all around the world. So we can propose that it is natural for a specie. And there always will be governments there the states are. So bitcoin won't raze govs to the dust, it is just changing a financial system and what is connected to it. Of course bitcoin ban even in major economies won't kill the chain but it will make it much harder to be accepted as wide as we all expect and wish. So I hope that our reflections about this situation will stat at hypothetical level.

Alcohol was banned in the US about a hundred years ago:


In 2020 alone, alcoholic beverages sales in the US were worth 247.3 billion USD(about half of the current entire market cap of Bitcoin): https://www.statista.com/topics/8803/alcoholic-beverages-industry-in-the-united-states/

Definitely. Bitcoin will eventually lost its value and will be forgotten in time if the ban will be forever. That’s why while the iron is still hot today, invest in bitcoin and take every opportunity to become profitable in bitcoin. Because when time comes when bitcoin will no longer exist anymore, we can never do what we have been doing today, and we will never be profitable anymore like what we had experienced today.

Yes, there is a potential for a Bitcoin ban, although the likelihood of such a ban varies depending on the country or jurisdiction in question.

Some countries, such as China and India, have already implemented restrictions on the use of cryptocurrencies like Bitcoin, citing concerns about financial stability, money laundering, and illegal activities. In China, for example, cryptocurrency exchanges and initial coin offerings (ICOs) have been banned since 2017, and the country has also cracked down on mining activities.

Other countries, such as the United States, have not implemented a ban on Bitcoin or other cryptocurrencies, but there have been discussions and proposals for increased regulation or restrictions on their use. For example, the U.S. Treasury Department has proposed requiring certain cryptocurrency transactions to be reported to the Internal Revenue Service (IRS), and there have been calls for increased scrutiny of cryptocurrency transactions to prevent illegal activities like money laundering and terrorist financing.

Overall, while a complete ban on Bitcoin is not currently widespread, it is important for individuals and organizations to stay up to date on the regulatory landscape in their jurisdiction and to comply with any applicable laws and regulations.

Of course it is absolutely possible to get around it, first China and then Russia have already tried it but they have failed.  But above all not cryptocurrencies but Bitcoin.  Even the SEC has recognized that cryptocurrencies are centralized even if they declare themselves differently but only Bitcoin is the only truly distributed one.  So that means he's unstoppable.

A full crypto ban will only happen if governments consider it a threat to Fiat's very existence. You can see they're already afraid of crypto when central banks began announcing the launch of new CBDCs. There's really no need to worry about a full blanket ban  as long as crypto (especially Bitcoin) stays decentralized. If someday crypto-friendly countries change their mind about crypto, there's always a "Plan B". With satellites, VPNs, TOR, and even radio waves, it's possible to circumvent government censorship.

Besides, it's impossible to shut down Bitcoin when there are many nodes distributed across the globe. Either governments accept defeat, or be left behind in the dust. Let's see how everything will turn out to be once CBDCs take over the world. Who knows if Bitcoin gets to live with digital Fiat currencies for generations? Just my thoughts

The situation still can change. Central banks of many countries are working on CBDC development and they can suppose that it'll be enough for people and try to protect their new digital form of fiat money by new restrictions for crypto. They can be delaying ban to learn positive and negative experience of distributed ledger before starting CBDC. Who knows? Of course it's more enjoyable to be optimistic but I still worry about possible problems governments can make.

This is a hypothetical thinking that Bitcoin could be banned around the world however I think this could not happen even though I understand how some of us might want to always think of the worst-case scenario with Bitcoin. Let's not forget that Bitcoin is already a legal tender in two countries, El Salvador and the Central African Republic while some other regions totally support its trade even though it is not yet a legal tender there like the UAE and many other countries, this image will show you how much crypto, in general, has been adopted globally, so like I said, hypothetically I don't think that will happen.

This could actually make me think about bitcoin strongly and deeply in the long terms. I’m pretty much into bitcoin at this time and it would be hard hit to take in the future if things are gone wrong to that much level. I think bitcoin will still be operational no matter what since it’s running on public ledger and it’s next to impossible to shut down all the computers in the world who are already having embedded blocks of blockchain. With the multiple copies and confirmation algorithm the government will need to blow off this planet and start over again. I’m confident that it will still run with other ways if not for the above one.

I haven't seen anyone who can leave their hometown, leave their loved ones just to move to a country where bitcoin can be traded, it's a crazy idea. In the past, when China banned bitcoin, only the big miners moved to other countries, and the investors stayed. There will always be a way for us to use Bitcoin even when it is banned, like what Chinese investors are doing.

In fact, as we can see that those who ban Bitcoin before have already changed their mind and had embraced this new technology now. In the current market standing, I didn't expect a ban but rather expected strict regulations imposed by most countries. It was to see that accepting or legalizing Bitcoin is a great avenue to huge opportunities for all of us. Might not be appreciated much today but definitely be in the future.

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That "what if" is nothing today, it only pulling us down and can't move forward on our journey.

USA has always been "land of the free, home of the brave", so I don't think it will ban Bitcoin in the long run. The country has a democratic system, so we should expect lots of opposition if govermment officials propose such a thing. Besides, why would the US want to ban Bitcoin when it can collect a lot of taxes from it?

What the country will do is regulate Bitcoin and other cryptocurrencies to minimize as much illegal activity as possible. Banning Bitcoin would make the US no different than China or even Russia. It's something that seems distant to be honest. We cannot predict the future, so we should be prepared for the worst. Just my opinion

I can hardly imagine how bitcoin can be banned all over the world. Most existing prohibits are based on natural and historical base: not to kill, not to steal, etc. Banning some exact financial system is not something natural so it will hardly be an aim for every country. So we talk mostly about ban in some big economies which can impact on bitcoin adoption and rates. And how can impact bitcoin ban in our countries on us. And as majority in the topic I can only agree that strict ban will make lots of problems even if it is only in my country.

If Bitcoin is eventually ban then we will have nothing to do than to look for alternative way to transact our Bitcoin. There is no way Bitcoin is going to ban finally that we will not be able to trade it. We can move from one country to another just to get Bitcoin and trade it if we want. One can leave a country that has a ban on Bitcoin and go to another country that allows Bitcoin trading and transactions. The whole countries in the world can not come together and decided to ban Bitcoin which is not possible because there are already countries that allow Bitcoin trading which is legal for all to transact.

This will greatly impact my source of income.  Almost everything I earn is from cryptocurrency activities.  I earn from investing in projects, trading, and participating in the signature campaign that pays in Bitcoin.  If the ban is implemented and anyone who still involved themselves in cryptocurrency will be jailed, I think there is no other way but to stop all my cryptocurrency activity.  As much as I like freedom of transaction, I wouldn't exchange my personal freedom to it.  So I will abide the law and probably start a small business and establish my new source of income.

Banning is never a new thing for us. So if ever if bitcoin will be totally banned all over the world, then maybe we should start seeing bitcoin shutting down and leaving us with no choice but to accept it. That’s why we should always invest only with our spare money that is not intended to pay our mortgage or any bills, so that once it’s gone, we will never be totally frustrated in the end. And we should never rely on bitcoin as our main source of living, make it as a side hustle and get a real job.

The funny thing is, there are governments who already regulated and check on bitcoin as something that people could invest into, and I do not mean just El Salvador type small nations, I mean like literally UK and USA and France and Germany, these are all huge nations and they are doing what they can to help people with it. On the other hand, we have topics like this who talk about cutting the whole internet infrastructure like North Korea suddenly.

Why would anyone ever imagine that we would go from what we are right now, which is supportive, to suddenly being something so dark? That's not going to happen, stop considering the worst possible thing that could ever happen.

America's loss really. A lot of countries in the orient are vying to become the financial capital of the planet. Hong Kong just recently made grounds over the internet with their new legislation imposing better laws and regulations for cryptocurrencies and operations that involve such, likely just to piss of China and spit at their face but inevitably this cooks great news for the cryptocurrency world. So, if they do ban bitcoin in the USA, that doesn't necessarily mean bitcoin is dead. Yes as it stands today USA is pretty much its de facto biggest contributor but given enough time and traction the whole world will catch up with US, especially now that they are losing their grip on some of the countries they are pressing against.

bitcoin helps in the improvement of economy of numerous individuals and If it unfortunately banned then those who have made investment in it will face huge loss and due to bitcoin banned all other coins will also become useless as everyone has greater believe on bitcoin in contrast with others.

If bitcoins banned then users and holders of bitcoin will find an alternative way to generate passive income. In most countries bitcoin investment and trading in crypto is banned however it places negative impact on cash percentage of users because users prefer investment in Bitcoin rather than any other means of getting income.

If you mean fixated on the US and if in the US bitcoin is banned I am sure that I will not be affected by that because I am not a US citizen and the main thing is that my country regulates bitcoin perfectly even though not with the utility of bitcoin as a currency but as a commodity but that's good enough in my opinion.
Bitcoin was not created for America and any country can use it and develop it, bitcoin will live in any country that accepts it.
But if my country bans it too, maybe I will focus on my business.