Topic: What would happen if BTC was Banned? - page 36. (Read 65851 times)
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 bitcoin will not be banned in prigressive and civilized countries because now that would make opposite effect. Many governments would try to regulate bitcoins so that they could control it in a way. But in worst scenario if bitcoin was banned users would continue to use it anyway.
Not so, if you hard a country that came in and just went in right over the top with punishments for bitcoin users of say 10 years jail it would be a disaster for the bitcoin community, most people using bitcoin would stop overnight and the rest of us would start looking for a new cryptocurrency with better privacy features while still fighting for bitcoin in public.But you are right that banning bitcoin would have the opposite effect that the government was aiming for, it would just bring more attention to something they would love to see just go away. Cryptocurrencies are here to stay!
Right, people will only live in fear when that time comes. It's image and name is ruined for those who only know Bitcoin for the first time. Let's take this scenario:
Australia bans the usage of Bitcoin. Of course the media will take the news because it is a big scoop and it will be aired across the globe causing global awareness on bitcoin Ang cryptocurrencies where the people who know nothing about Bitcoin will take Bitcoin as a bad thing and the youngsters will be influenced by bad imagery. That horrifying if the powerful people do that. Bitcoin will be like a drug and only few people will just use it.
It depends if the people is open minded in these things. We are in the era where the notions of beliefs and principle is washed away by the " top individuals" and we have no choice but to follow. This will be tough tho' ( mentally and physically ). If this time, we can call this bitcoins historical introduction, when that time comes it will be the dark ages of cryptocurrencies.
All these blocks of text can be summarized by the "Streisand effect"
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The Streisand effect is the phenomenon whereby an attempt to hide, remove, or censor a piece of information has the unintended consequence of publicizing the information more widely, usually facilitated by the Internet.
SourceInstead of removing the bitcoin from the scene by burying it by making it illegal and putting a huge punishment, it will just increase the popularity of bitcoins instead.
I actually doubt that they will put huge punishments on this because it will just be more "hot" in the media and everyone will be wondering why is using bitcoins have a really huge punishment. They will have much more chance of researching about it then instead when the use of bitcoin only has a light punishment at first attempt, then a little larger punishment on second, and so on..
Back to my usual example, the use of drugs also have a huge punishment (of course "huge" is subjective) but almost everyone has a stash of weed especially on large countries. Like they say, it's only illegal if you get caught.
I think it would be really be impossible to ban the bitcoin,
I mean all of the users are anonymous so the government couldn't track us.
It is impossiblt to banned the bitcoin because bitcoin is being popular now and there are many people using it as mode of payment. If goverment banned the bitcoin many people wil rally against them. Yet, many will become criminals becuase they will not stop using it. I mean all of the users are anonymous so the government couldn't track us.
What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
Probably many people will get mad and many people will fall down in their bitcoin businesses. People who uses bitcoin and invest such a big amount in bitcoin will get mad and their earnings will destroy and I think it will be a start of rally because many people uses bitcoin. Nowadays many people knew all about bitcoin. And if it's banned many will get get mad in our government because of what they did and they don't know that bitcoin is very helpful. How do you think the community would react? What could be the possible solutions?
I think bitcoin will not be banned in prigressive and civilized countries because now that would make opposite effect. Many governments would try to regulate bitcoins so that they could control it in a way. But in worst scenario if bitcoin was banned users would continue to use it anyway.
Not so, if you hard a country that came in and just went in right over the top with punishments for bitcoin users of say 10 years jail it would be a disaster for the bitcoin community, most people using bitcoin would stop overnight and the rest of us would start looking for a new cryptocurrency with better privacy features while still fighting for bitcoin in public.But you are right that banning bitcoin would have the opposite effect that the government was aiming for, it would just bring more attention to something they would love to see just go away. Cryptocurrencies are here to stay!
Right, people will only live in fear when that time comes. It's image and name is ruined for those who only know Bitcoin for the first time. Let's take this scenario:
Australia bans the usage of Bitcoin. Of course the media will take the news because it is a big scoop and it will be aired across the globe causing global awareness on bitcoin Ang cryptocurrencies where the people who know nothing about Bitcoin will take Bitcoin as a bad thing and the youngsters will be influenced by bad imagery. That horrifying if the powerful people do that. Bitcoin will be like a drug and only few people will just use it.
It depends if the people is open minded in these things. We are in the era where the notions of beliefs and principle is washed away by the " top individuals" and we have no choice but to follow. This will be tough tho' ( mentally and physically ). If this time, we can call this bitcoins historical introduction, when that time comes it will be the dark ages of cryptocurrencies.
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.
I think bitcoin will not be banned in prigressive and civilized countries because now that would make opposite effect. Many governments would try to regulate bitcoins so that they could control it in a way. But in worst scenario if bitcoin was banned users would continue to use it anyway.
Not so, if you hard a country that came in and just went in right over the top with punishments for bitcoin users of say 10 years jail it would be a disaster for the bitcoin community, most people using bitcoin would stop overnight and the rest of us would start looking for a new cryptocurrency with better privacy features while still fighting for bitcoin in public.But you are right that banning bitcoin would have the opposite effect that the government was aiming for, it would just bring more attention to something they would love to see just go away. Cryptocurrencies are here to stay!
I think bitcoin will not be banned in prigressive and civilized countries because now that would make opposite effect. Many governments would try to regulate bitcoins so that they could control it in a way. But in worst scenario if bitcoin was banned users would continue to use it anyway.
They can ban it as much as they want, but everyone who was using it before would continue to use it as if nothing even happened. I do not think that they can track transactions or stop us from using Bitcoin, so it is not going to happen anyway.
So you don't think that the government can track your bitcoin transactions, are you serious? Have you ever heard of a little thing called the blockchain?All bitcoin transactions that have ever taken place are recorded on a public ledger that anyone can see called the blockchain.
You can have a look yourself by typing your bitcoin address into a block explorer like blockchain.info
You really must have purchased the account you are posting from because i find it hard to believe someone who has been here a year doesn't know that.
The governments of the world cant ban bitcoin, its loo hard, they will have to block thousands of websites and access the computers of their citizens in search for evidence of bitcoin use, its just not worth it
It is imposible for bitcoin to be banned beacuse some big country like USA and Japan are now accepting bitcoin as mode of payment. It's hard to banned the bitcoin because there are many people using it as for their online transaction. Yet, the usage of bitcoin has a big effect on developing countries. Hence, there's no reason for bitcoin to be banned. However, if that happen there are many people who use bitcoin will be criminals. 
What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
This of course is a nightmare for everyone. today bitcoin is already widely used in various sectors in the world. if it happens, then I think there would be chaos in the world economy. How do you think the community would react? What could be the possible solutions?
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?
Of course if you think it very clear anything can be use in illegal activities including fiat, this will not be ban as long as it will not create a massive panic and most users are willing to comply with the law of the government. Taxes and money laundering are the main issues but if that is properly regulated, there would be no problem at all.
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?
They can ban it as much as they want, but everyone who was using it before would continue to use it as if nothing even happened. I do not think that they can track transactions or stop us from using Bitcoin, so it is not going to happen anyway.
It is evident enough from China and Russia attempt to ban Bitcoin that it is a wind chasing exercise and they in fact ended up having more of their citizens hooked to Bitcoin than there were before the ban, now they have eaten the humble pie. I don't understand how any entity can effectively ban something that is decentralized and borderless, does anyone know? 
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What would happen if BTC was Banned?
let's find out!
I hereby BAN bitcoin forever. You may not use it anymore!!!
Okay that should halt trading worldwide.
Nothing, that's what would happen.
What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
How do you think the community would react? What could be the possible solutions?
If bitcoin were somehow declared illegal by every government on the entire planet then bitcoin would go underground. Anonymous social networks would become more robust and dark market places would become relevant....More work would be put into the disruptive technologies and innovations would happen more frequently. That's why it will never happen....the planets best bet is to embrace the technology not condemn it.
I also think that bitcoin will not be forbidden. The system is protected from this. He'll just go into the shadows. Nobody will say openly that he uses cryptocurrency
What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
How do you think the community would react? What could be the possible solutions?
If bitcoin were somehow declared illegal by every government on the entire planet then bitcoin would go underground. Anonymous social networks would become more robust and dark market places would become relevant....More work would be put into the disruptive technologies and innovations would happen more frequently. That's why it will never happen....the planet's best bet is to embrace the technology not condemn it.
They can ban it as much as they want, but everyone who was using it before would continue to use it as if nothing even happened. I do not think that they can track transactions or stop us from using Bitcoin, so it is not going to happen anyway.
Correct. Banning it in the first place would be a problem for them. How could they do a defense into which bitcoin will be prohibited in every internet connected personal computers, laptops, rental shops and even mobile phones. This is a world wide currency in which can be accessed easily with just one hand thru mobile phone. It aint that easy to make it stop.
They can ban it as much as they want, but everyone who was using it before would continue to use it as if nothing even happened. I do not think that they can track transactions or stop us from using Bitcoin, so it is not going to happen anyway.
thats true, people who have used it would not be too concerned about the ban on the use of bitcoin. but it will give effect to the people who want to use bitcoin? they may be a little scared with bitcoin They can ban it as much as they want, but everyone who was using it before would continue to use it as if nothing even happened. I do not think that they can track transactions or stop us from using Bitcoin, so it is not going to happen anyway.
Yeah, it is not going to happen right now, and also if we see, so bitcoin is not doing anything bad, So why the reason government banned it?
Even bitcoin is more useful on online system. It give us many facilities on online world, and every person is happy with bitcoin. So don't' need to go in a wrong side, think positively about bitcoin.
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