What would happen if BTC was Banned? - page 35.

bitkilo

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Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

The best solution is to never put all your eggs in one basket and neved invest anymore than you can afford to lose.

If bitcoin starts dropping really fast in price overnight then depending on your situation it may be better to cash out say 80% and just wait till it all calms down, then buy back coins quick as a great discount.

Fatanut

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Quote from: roadbits on March 27, 2017, 05:56:39 AM

Quote from: bncbnc on March 27, 2017, 04:35:50 AM

Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

but i do not think that bitcoin will ever banned. Because the users of bitcoin are continously increasing and therefore bitcoin is becoming more and more powerful and reliable. i am hopeful that in future the governments are going to turn bitcoin as a legal currency.

Now the [1]Bitcoin is becoming more popular in digital currency world. [2]But it's not possible to give assurance that the bitcoin will not ban in all country it may be happening in future, or it will become a legal currency in future. Anything can happen. [3]If the Bitcoin ban people will use another currency to replace this currency that's it. Begining we face some problems, but later onwords we cvan adjust to other currency.

[1] Since bitcoin is the first cryptocurrency, it will always be popular. Even if it gets replaced by a different cryptocurrency, it will still be remembered and it will always be a part of history.

[2] Or nothing will happen at all. Think about it, if the governments ban bitcoins, it will lead to even more users.

[3] I think if we were able to think about that, so can the government. They will probably ban the use of any digital currency that is not issued by the government. But I'm pretty sure that not all governments will act on that because not every government will have an issue about bitcoin and not all nations will be full of bitcoin users.

grandy

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Quote from: roadbits on March 27, 2017, 05:56:39 AM

Quote from: bncbnc on March 27, 2017, 04:35:50 AM

Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

but i do not think that bitcoin will ever banned. Because the users of bitcoin are continously increasing and therefore bitcoin is becoming more and more powerful and reliable. i am hopeful that in future the governments are going to turn bitcoin as a legal currency.

Now the Bitcoin is becoming more popular in digital currency world. But it's not possible to give assurance that the bitcoin will not ban in all country it may be happening in future, or it will become a legal currency in future. Anything can happen. If the Bitcoin ban people will use another currency to replace this currency that's it. Begining we face some problems, but later onwords we cvan adjust to other currency.

yes i agree with you, bitcoin is now becoming more and more popular and we can see that more and more people are entering in the field of bitcoin therefore bitcoin is now becoming popular and so we can conclude that bitcoin bitcoin is not going to bane and hope that it will become more stronger than its present position.

roadbits

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Quote from: bncbnc on March 27, 2017, 04:35:50 AM

Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

but i do not think that bitcoin will ever banned. Because the users of bitcoin are continously increasing and therefore bitcoin is becoming more and more powerful and reliable. i am hopeful that in future the governments are going to turn bitcoin as a legal currency.

Now the Bitcoin is becoming more popular in digital currency world. But it's not possible to give assurance that the bitcoin will not ban in all country it may be happening in future, or it will become a legal currency in future. Anything can happen. If the Bitcoin ban people will use another currency to replace this currency that's it. Begining we face some problems, but later onwords we cvan adjust to other currency.

bncbnc

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Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

but i do not think that bitcoin will ever banned. because the users of bitcoin are continously increasing and therefore bitcoin is becoming more and more powerful and reliable. i am hopeful that in future the governments are going to turn bitcoin as legal currency.

Kimi80

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Quote from: LimLims on March 26, 2017, 09:45:41 PM

If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

This would be not the first time for that to happen, people bankrupt all the time cause bad investments. I don`t have enough knowledge about blockchain to claim anything, with just observing I see forum is full with people that have more trust in some other coins, for example eth, dash, and they think that this coins can replace bitcoin. My logic tells me that in case of bitcoin banning, some of this coins can take leading position, or someone will come up with new and fresh idea.

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Quote from: BeGoods on March 26, 2017, 08:03:46 PM

Quote from: Wowcoin on March 25, 2017, 04:46:15 AM

Whether bitcoin is banned by the government maybe bitcoin will collapse and nothing will patronize here. The better we do as an investor maybe we should support the bitcoin and we share with those who do not know about bitcoin.

the government can prohibit the use of bitcoin but the government can not prohibit users to use bitcoin. because users can still use bitcoin freely because there on the internet because bitcoin decentralization so the tires will not be too disturbing bitcoin

Yeah but bitcoin does not exist with its own value, it is solely dependent on fiat as it's value, now when the government will be more strict about
bitcoin it will be hard for us to convert it to fiat as they will surely regulated the exchanges. If BTC will be banned, that would be a big problem for
us and I think most holders will panic of the possible negative effect in the future which makes bitcoin fail.

LimLims

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If bitcoin completely gets banned in future then I think it will create an havoc in the minds of the people and will loose all their money and it will be very hard for those who have invested huge amount of money and it may even make them bankrupt and will become difficult for them to survive.

steampunkz

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If btc has been banned today in my opinion It would be like a disaster from most of bitcoin users because many of us today uses bitcoin as payment gate away also for shoppings, paying bills etc. Also many company would be in bunkcrupt like coin.ph, coinbase, and blockchain. In the goodside if bitcoins has been banned there's no more selling drugs, or any illegal activities in the darkweb, Because in the darkweb Majority in the market place or other forums there uses bitcoin as payment gateway. Our society today wants an effortless paying like bitcoin, easy to use, private and convenient.

BeGoods

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Quote from: Wowcoin on March 25, 2017, 04:46:15 AM

Whether bitcoin is banned by the government maybe bitcoin will collapse and nothing will patronize here. The better we do as an investor maybe we should support the bitcoin and we share with those who do not know about bitcoin.

the government can prohibit the use of bitcoin but the government can not prohibit users to use bitcoin. because users can still use bitcoin freely because there on the internet because bitcoin decentralization so the tires will not be too disturbing bitcoin

Wintersoldier

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Quote from: Text on March 26, 2017, 07:31:18 PM

Bitcoin user will always come up to find ways to have access on it even the government start banning it because everybody knows its anonimity and we can use VPN servies to make untrace our IP.
We will lose all the opportunities that we are getting from BTC right now so I don't like it to happen.

No one can banned bitcoin since it is anonymous. And you're right, even though it is banned is a country, a user can use incognito or vpn so that government can't block them. On the other hand, I don't see any reason why a country would ban bitcoin since its platform is for a good purpose. We all know that it can be used for bad things, but its is depend on the people, besides fiat money was being use more likely by bad people.

vasrasus

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Quote from: Text on March 26, 2017, 07:31:18 PM

Bitcoin user will always come up to find ways to have access on it even the government start banning it because everybody knows its anonimity and we can use VPN servies to make untrace our IP.
We will lose all the opportunities that we are getting from BTC right now so I don't like it to happen.

right VPN will save the users. VPN can trick IP for us to be able to access it, though its quite impossible yet in our country to ban it, so hoping to not used VPN and not to do illegal things . It felt good knowing that anyone can enjoy and earn using bitcoin.

Text

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Bitcoin user will always come up to find ways to have access on it even the government start banning it because everybody knows its anonimity and we can use VPN servies to make untrace our IP.
We will lose all the opportunities that we are getting from BTC right now so I don't like it to happen.

mornabo

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Quote from: Wowcoin on March 25, 2017, 04:46:15 AM

Whether bitcoin is banned by the government maybe bitcoin will collapse and nothing will patronize here. The better we do as an investor maybe we should support the bitcoin and we share with those who do not know about bitcoin.

A government ban on bitcoin will not make bitcoin into collapse or die you see now there are some states that prohibit bitcoin but until now the price is still high and bitcoin bitcoin is still alive

BeGoods

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Quote from: bryant.coleman on March 23, 2017, 12:40:47 PM

Quote from: tigershark on March 23, 2017, 11:13:10 AM

If governments banned bitcoin, it wouldn't last long. The price would drop down to nothing most likely, but I think we are far enough along that this would not happen.

First of all, not ALL the governments are going to ban the crypto-currency. Even if they ban them, the vast majority of the third world nations lack the resources to implement such a ban. Do you really think that a country like Somalia, which is embroiled in civil war right now is going to detain and prosecute thousands of people just for using Bitcoin?

state ban on bitcoin will do when the government thinks that bitcoin will harm their country. if bitcoin does not harm them why the government bans. so not all governments will do it

praboso96

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If the governments of many countries prohibit bitcoin, then it will simply depreciate. After all, its price depends on popularity. And that which is forbidden can not be popular

Rostadom

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Quote from: jovs on March 26, 2017, 09:54:24 AM

Quote from: Slark on December 18, 2015, 12:05:19 PM

Bitcoin can't be banned permanently and totally. That is a fact, there will be always places where bitcoin will be fully legal.
If bitcoin would banned in one country then use exchanges located in another country to trade coins it is not that someone can tell that you have bitcoin stashed on your machines.

Bitcoin is a crypto-currency meaning to say that it is internet base or web base so banning it may be hard to do. Because there are some legal matters on bitcoin. It can be used on transaction on business and its community has a greater number compare to people would like to banned it. So why do people will actually think to banned it after all? The only reason i think is only on gambling matter which is typically not legal on some country. Resulting on people for using bitcoin on more important things, and i think that is good because there is more opportunity for business on accepting bitcoin.

If the government is going to ban bitcoins because it promotes gambling, then they would have to ban all of the currency out there or anything that has value. People will bet literally anything. Back then, when there was still no coins and there were just hunters and farmers, people probably were all like "Hey, I bet you one cow and 2 pieces of okra that today's going to rain."

It's in our nature that we're going to love to challenge other people and put a bet on it, thus, gambling is our nature. Other people even gamble just to pass time.

izanagi narukami

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If banned for all country, I think bitcoin become cheaper since everybody will be difficult to get them
If the value decrease than bitcoin become less popular which make whale trade experience major loss

Quote from: Astvile on March 26, 2017, 08:42:36 AM

Then there will be more illegal people who will still use bitcoins even if its declared as illegal because of potential earning through it.

I think people become less interest if bitcoin value decrease

Raxitto

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In December 2013, the People's Bank of China (China's central bank) prevented financial companies from having any relationship with bitcoin, and the price fell from $ 1,095 to $ 105.
However, this love was revived as the virtual currency quietly rose from $ 200 in August 2015 to $ 525 now.
The price fell for many reasons in 2014; Mainly because it was too loud. Currently, Chinese activity is boosting the bitcoin price hike. There is a variety of other factors going on now.

jovs

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Quote from: Slark on December 18, 2015, 12:05:19 PM

Bitcoin can't be banned permanently and totally. That is a fact, there will be always places where bitcoin will be fully legal.
If bitcoin would banned in one country then use exchanges located in another country to trade coins it is not that someone can tell that you have bitcoin stashed on your machines.

Bitcoin is a crypto-currency meaning to say that it is internet base or web base so banning it may be hard to do. Because there are some legal matters on bitcoin. It can be used on transaction on business and its community has a greater number compare to people would like to banned it. So why do people will actually think to banned it after all? The only reason i think is only on gambling matter which is typically not legal on some country. Resulting on people for using bitcoin on more important things, and i think that is good because there is more opportunity for business on accepting bitcoin.

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