Topic: What If There Is A Ban - page 5. (Read 907 times)

this is , and not only they cannot do ATM but instead they can not do all time , people will bring civil war if this will be implemented worldwide.

this is how bitcoin showing the world now lol.
with respect and concern , I believe that only few countries will have this banning but not totally the universe against this.

It could still happen in the future if they don't get any benefit from bitcoin, but it's not a serious problem that can't be solved. If the US bans bitcoin, it will definitely seriously affect bitcoin, but over time bitcoin still recovers and thrives again. Like China's bitcoin ban in the past, this ban hit hard but failed to kill bitcoin. The bitcoin network is scattered around the world, not centralized in a single country, so banning it is almost impossible.

There will never be an outright ban ever since big corporations began to understand crypto (and how to profit from it). It's certainly possible though that certain sectors of crypto could be banned or heavily regulated to the point of no real mainstream use. Staking seems to be next up on the chopping block. I give it 3-5 years before there's a major push to ban, license, or cap mining due to the environmental costs of it, or perhaps due to electricity shortages. Heck, if it's rationing electricity during shortages, I bet we'll see certain countries push for mining bans quite vocally within the next year. It's good we got through this past winter, but if next winter is tough on electricity prices and supply again, it won't look good.

This is a pretty popular topic that's been proposed quite a few times over the years on this forum.  The truth of the matter is bitcoin can't be stopped, not fully anyhow.  If there is a "ban" on bitcoin, I suppose it all comes down to how bad this ban is first of all, next if it's say the US "banning bitcoin" then it's going to absolutely put a hurting on it's "bottom line".  If US regulators restrict the US of US citizens from operating on exchanges, that's going to sink it's value, but it'll come back under new leadership eventually.

Yes there's an impact especially when we are use to have earnings on crypto for sure it can affect us badly. But we cannot do anything with this is if government give a shot call about banning crypto and put a big penalties when there are people illegally use this.

Its hard implementation but I guess we need to move on and find legal space where we can earn money again.

Banning Bitcoin is like banning tobacco or alcohol, which they (the governments) can't do ATM because they know how far we have come with this asset class and they have good means to earn some taxes out of this. Next is, there have been countries that believed that those countries that have banned crypto to be used by their citizens, are not only preventing their citizens to make the complete use of their rights but also have taken a decision that might economically put them backward in the future, so welcoming this class with both hands will only give these countries a new way to explore this great technology that comes with countless opportunities and newer categories one by one.

They can ban all they want since we do know that the world doesnt only have one country on where it is running, there are tons.We've seen some countries had already banned out Bitcoin but what happened? Yes, it did make out some huge correction or significant dump but still it do able to recover out on a period of time which does mean that Bitcoin or crypto overall
does have that solid support.

Government doesnt really like crypto in the first place.It is really just that they cant do something into its existence no matter how they would be cracking it out literally.
This is why they would be focusing into other angle and this is why they do touched up any services that do really gets involved with crypto.

Wait, before I answer some of your questions, why on earth would anyone hate bitcoin that much to implement these restrictions? This is just like killing the internet and expected the citizens to act like you want, more like detectorship and anarchy.

Now coming back to your question, the last I check, the world doesn't revolve round the US alone, they have the resources and investors especially the institutional ones that will help bitcoin grow and get recognitions but it doesn't mean if US doesn't allow it strive in their region, it will stop growing in another place. Look at Hong Kong for example, the Chinese government has ban bitcoin more than I can count but as of today, they seems to be making adjustable shoulder for its citizens and bitcoin, you know why they allowed that, there is no assets like bitcoin and there will never be.

If the US was ever going to ban crypto, they would have done it since before now, so personally, I wouldn't want to bore myself with such negative thoughts as to what could happen to me or my finances if the US ban crypto, they know better and wouldn't, if they had any plans of banning crypto or bitcoin, they wouldn't be giving operational licenses to crypto currency exchanges like binance, to operate in their jurisdiction in the form of Binance.us, coinbase and other top exchanges that are regulated by the US regulatory authorities.

Without first considering how a ban on bitcoin might impact its population, the USA cannot completely censor the usage of bitcoin, if that is what is required.

That is impossible in this situation. Even if the United States prohibits bitcoin, other nations won't do the same simply because the United States did. The entire world is becoming savvier about not blindly accepting or rejecting everything the United States says. Nowadays, nations legalize things that will benefit their citizens regardless of what other nations are doing to prevent it. Consider the lifting of the ban on Bitcoin.

There isn't much that can be done about that other than to accept it as good luck and move ahead. Something else more powerful might be created in the future. Bitcoin will not be the last most powerful tool to be created in the world if it is successfully banned completely. I know that's impossible to accomplish though because of the anonymous nature of bitcoin

This is just for the discussion that it will happen but their government is trying to get ground to where they could control even just in the US.
If it does happen, the rest of the world will adopt Bitcoin and US will lose more in crypto innovation. Its been foretold by many youtube channels already since the time they crackdown crypto and the regulations that are far from being finished.

The Paxos case alone might actually end well which the Paxos AFAIK will fight back against SEC.

It is true that anything can happen but we need to wonder what could cause such an aggressive change of posture by the US government? And I suppose such a change in posture could happen if they finally realize they are losing control of their economy and the strength of the US dollar was diminishing at an amazing rate, at that point even regular people will notice what is happening and will begin to adopt other currencies to save what they can from their wealth, so those measures could be put in place by the US government to stop this but at that point it would be too late to do anything and many people will keep adopting bitcoin even if it was illegal at that point

I agree. The most likely way that Bitcoin could perhaps be banned is if every country in the world became a global dictatorship under a single unified ruler. But to be honest, even then we would protest, build our own networks and Bitcoin might even then be kept alive. We would risking everything for freedom but I think humanity has proven time and time again that even in the cruelest dictatorships there will be those who stand up and do whats right.


I do not doubt that even in North Korea there exist groups of people who mine their own version of Bitcoin without government approval or oversight.

On top of that it never happened that all countries around the world agreed on something and even if they officially do, most of them won't stick to it as the incentive is too big to resist. If the entire crypto industry gets banned in the US I am sure it won't take long until some other state will announce the most welcoming legislation and regulation, incentivizing an innovative industry to just completely move to another country.

No matter how hypothetical or even realistic OP's idea might be, we will never ever see a situation where there is no place to go for the industry.

You can't ban freedom and bitcoin is freedom.

Many countries tried to ban bitcoin and it didn't work so they had to change their minds. One of such countries is Nigeria that saw an increase in bitcoin use when they banned it, so they passed a bill to unban it and make it legal.

All that can be done to ban bitcoin is an exchange ban, but that doesn't work when bitcoiners have a vote and bitcoin companies pay taxes.

As they say, don't fight the tide

Let me describe how things stand right now. Bitcoin and other cryptocurrencies are prohibited in my jurisdiction. And if you were caught here, you would have to go to jail. But what is the consequence? Bitcoin and other cryptocurrencies are still used by me. I achieved to the status of Legendary within the community that has been compared to a crypto-academy. Due to Bitcoin's decentralized nature, the restriction cannot stop its use. So, I have no serious concerns about the ban. But yes, a widespread ban on cryptocurrencies would have an effect on their price.

Go find a job then. This is the problem; many people in this industry are way too dependent with the profit they are getting from this industry. To make a living, one needs a stable income which is why a decent job is still necessary. There are issues present still in this industry which should be an enough caution to investors. But it would be worse if the only thing you would do is to focus in this industry; there'd still life outside. If ever this blockchain will be banned and prohibited in your country, and if this industry would fall, you have to make your own move to still be able to provide something in the table than to push through against limitations.

If that happens, Bitcoin will crash very hard, probably below $1,000. And after that it will become very unstable, there will be hopium-driven bull markets and crashes after new portions of FUD. Most of liquidity will be lost, especially if banks around the world crack down on Bitcoin trade. Miners will move to some small countries that didn't ban it, but those small countries don't have enough electricity to sustain the total hashpower, so Bitcoin will become more vulnerable to 51% attack, which will also contribute to price decline.

Yeah putting your eggs in one basket sometimes leaves one stranded in the case of any eventuality along the line, and no one is advised to go all in 100% into Bitcoin or any other thing at all.
-But with bitcoin, we have very strong security of assets that make us ahead of any potential future risk most especially when we have all our assets stored in cold wallets.

Ultimately, this scenario of yours seems not very challenging. for example ban on BTC, VPN etc. etc. could not stop the work cycle of life. People always fond of making ways out of a problem, and this ban problem could also be resolved. How? there are many ways as there are many If in the questions so respected solutions according to replies could be found easily. Lets recall the ban on Staking of Kraken exchange by USA took place, before 2 weeks. Well does this ban effects the market. No. these bans were for only USA citizens. other peoples from all over the world could join staking so USA is not a single authority over the products that are backed by all citizens of different countries.

On the Other hand, due to bans on these staking functions, investors and stake holders tend to withdraw there money from this exchange which ultimately effects the economy and society of USA. As the CEO of Coinbase mentioned in one of his tweets that, interpretation, USA is a influential country that is now how things must go for staking. well i hope you got my point. that USA can not effect or control the functioning of exchanges, tokens, NFTs, Web3 products etc etc that are not belong to USA. so why the things go bad. well real problem is if it bans all over the world or most frightening question is what happen if all the internet goes down? well as there is a series of Marvel; "What If" in which the reality of movies is changed with selected possibilities. Well there could be thousand of IFs in the movie same in the scenario of your question.