What will happen if 100% government ban bitcoin?

BADecker

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If governments can't destroy the blockchain by hacking it, and if they attempt to ban Bitcoin, they will destroy themselves.

They know this, and so they will try to use Bitcoin and incorporate it into their operations. Watch out for regulation rather than banning. The regulation will happen in areas that they can watch - NSA spying - like what products are transferred where without some regular fiat currency payment.

BTCisthefuture

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Quote from: hilariousandco on January 28, 2014, 11:03:06 AM

Quote from: BTCisthefuture on January 28, 2014, 10:40:21 AM

Not likely it will happen.

If it did though, it simply means bitcoin is a black market thing. It will still be around just like online piracy or drugs are still around. Would be great news for criminals actually

Even if it was somehow banned by most governments worldwide it would still thrive underground just like it did originally.

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Exactly, that's what I'm saying. It would be a black market thing. Torrents and online piracy is illegal in a lot of countries but still thrives. Drug are illegal in most countries but still easy to obtain and find and there's still huge money behind it. If bitcoin was illegal plenty of people would still use it, but it would be illegal.

BADecker

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Government will ban Bitcoin simply by perfecting the quantum computer, and then attacking by virus every instance of the blockchain. Perhaps they have already done it, and that's the real reason Bitcoin is not at $10,000 per Btc.

jcoin200

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Quote from: bitbob82 on January 28, 2014, 04:21:28 AM

what will happen if 100% of all government around the world ban bitcoin??

any thought?

By ban do you mean make it illegal? If so then I would ask how that has worked out for drugs, or alcohol during prohibition. They can try but they wont be able to ban it

hilariousandco

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Quote from: BTCisthefuture on January 28, 2014, 10:40:21 AM

Not likely it will happen.

If it did though, it simply means bitcoin is a black market thing. It will still be around just like online piracy or drugs are still around. Would be great news for criminals actually

Even if it was somehow banned by most governments worldwide it would still thrive underground just like it did originally.

Erdogan

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Quote from: Zarathustra on January 28, 2014, 08:35:03 AM

Quote from: Erdogan on January 28, 2014, 06:57:34 AM

Quote from: Zarathustra on January 28, 2014, 05:44:19 AM

Quote from: Erdogan on January 28, 2014, 05:11:17 AM

The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).

So who in fact governs the governments.

We the people, the brainwashed sick collectivists (citizens), the 'living' cartoons of the former human.

Oh I forgot. It's been a long time since I thought along those lines.

BTCisthefuture

sr. member

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Not likely it will happen.

If it did though, it simply means bitcoin is a black market thing. It will still be around just like online piracy or drugs are still around. Would be great news for criminals actually

corebob

full member

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All US enslaved governments are stacking up for another market crash as we speak. Once it goes live, bitcoin will see another round of adoption.
Bitcoin was created out of necessity so I doubt it will go away. Its the only healthy currency these days.

Jcw188

hero member

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Carpe Diem

Well, silk road was banned technically, but it still happened and people used Bitcoin to buy there. In fact that was probably a big reason price went up at first.

Tripjammer

sr. member

Activity: 394

Merit: 250

These are all temporary setbacks. Bitcoin did not crash yesterday. The US is not going to ban bitcoin. They will just prosecute people who use it illegally. The USA and most western countries will embrace bitcoin and in 5 years time you will see bitcoin approach $10000 a coin or more.

The bad apples have to shake out first...

Bitcoinpro

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troll post please delete Cheesy

hilariousandco

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Quote from: Zarathustra on January 28, 2014, 08:35:03 AM

Quote from: Erdogan on January 28, 2014, 06:57:34 AM

Quote from: Zarathustra on January 28, 2014, 05:44:19 AM

Quote from: Erdogan on January 28, 2014, 05:11:17 AM

The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).

So who in fact governs the governments.

We the people, the brainwashed sick collectivists (citizens), the 'living' cartoons of the former human.

Governments only have power because we give it to them and even pay them to do it. Stop paying their wages and they'll soon lose control.

Zarathustra

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Quote from: Erdogan on January 28, 2014, 06:57:34 AM

Quote from: Zarathustra on January 28, 2014, 05:44:19 AM

Quote from: Erdogan on January 28, 2014, 05:11:17 AM

The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).

So who in fact governs the governments.

We the people, the brainwashed sick collectivists (citizens), the 'living' cartoons of the former human.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

price will be sky high then.....no it wont Tongue

if the leading countrys ban it we will see BTC at 5 USD. its a high risk investement.

hilariousandco

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Quote from: web-project on January 28, 2014, 07:51:57 AM

Quote from: bitbob82 on January 28, 2014, 04:59:01 AM

Quote from: Elwar on January 28, 2014, 04:39:27 AM

Which government?

right now the China , Russia, India is not friendly with bitcoin and trying to limit it as much as possible

USA too as "US makes Bitcoin exchange arrests after Silk Road closure":
http://www.bbc.co.uk/news/technology-25919482

That's completely different. They were doing illegal things using Bitcoin.

web-project

newbie

Activity: 37

Merit: 0

Quote from: bitbob82 on January 28, 2014, 04:59:01 AM

Quote from: Elwar on January 28, 2014, 04:39:27 AM

Which government?

right now the China , Russia, India is not friendly with bitcoin and trying to limit it as much as possible

USA too as "US makes Bitcoin exchange arrests after Silk Road closure":
http://www.bbc.co.uk/news/technology-25919482

Meuh6879

legendary

Activity: 1512

Merit: 1012

if industry of music haven't ban P2P file sharing ... (and it have money for this)
what do you expect from an administration that it have no money at all for lobbying (and ban bitcoin) ?

bitmiggy

newbie

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Merit: 0

I don't think it'll be banned as there is now too much money involved. They will probably regulate exchanges more and more, and require all of us to say how many coins we have on our tax returns.

zimmah

legendary

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Merit: 1005

Guys, the government SERVEs the people, when they don't! revolt against them.

We are not the slaves of the government, they are there (or should be) to do stuff that benefits the community, that is their job, and their only job.

Don't be afraid of the government, we are in the mayority.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: Zarathustra on January 28, 2014, 05:44:19 AM

Quote from: Erdogan on January 28, 2014, 05:11:17 AM

The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).

So who in fact governs the governments. Who decides which government will have a trade deficit, and which will have a trade surplus. Who determines which currencies are to be used for taxes in each government jurisdiction?

Topic: What will happen if 100% government ban bitcoin? (Read 2100 times)