Topic: What would happen if BTC was Banned? - page 37. (Read 65851 times)
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.
I'm sure if illegal transactions massive use, then the bitcoin will be banned. the Government and the world certainly rallied to close all exchangers that accept bitcoin. Hopefully this never happens.
Government will ban it but that doesn't mean that the bitcoin market and community will stop on these types of transactions. But if this happens, we are the ones that will mostly be affected by this ban. Those people that are using bitcoin in a nice way and not involving themselves with illegal activity but still we won't be stopping too.
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.
How about when dealing with an bitcoin exchange ,as far as i know all the exchanges need you to reveal your identity if you are dealing with fiat currency and how can you be anonymous when they really know who you are and one more thing is that bitcoin is not really anonymous .I mean all of the users are anonymous so the government couldn't track us.
In our country, the exchange center that I am using did not and cannot recognize that the fiat I am withdrawing is from bitcoin. So i do believe the anonymity of bitcoin users. And this is why government cannot control where our money come from.
As long as bitcoin still can used anonymously and when we exchange our bitcoin into fiat , i am agree that government can not ban uses bitcoin.
Globally only a few countries that officially issued a policy prohibiting the use of bitcoin. So it was not a decision that the government declare that easy
I'm sure if illegal transactions massive use, then the bitcoin will be banned. the Government and the world certainly rallied to close all exchangers that accept bitcoin. Hopefully this never happens.
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.
How about when dealing with an bitcoin exchange ,as far as i know all the exchanges need you to reveal your identity if you are dealing with fiat currency and how can you be anonymous when they really know who you are and one more thing is that bitcoin is not really anonymous .I mean all of the users are anonymous so the government couldn't track us.
In our country, the exchange center that I am using did not and cannot recognize that the fiat I am withdrawing is from bitcoin. So i do believe the anonymity of bitcoin users. And this is why government cannot control where our money come from.
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?
Small crimes aren't prioritized by the government. They just put the law there just in case something big happens and also to discourage scared people. For example, it's illegal to download music by using a third party application but literally every single one is doing it. Does anyone even actually buy songs from iTunes?
Another example is cyber bullying. Tons of trolls are found on the Internet. If you post an ugly picture of you on Facebook, people will tell things to you and call you names. You can either ignore them or you can report them to the police. But obviously, the police will just laugh at you. Tons of crimes are happening each day, do you really think the government or the police will pay attention to you if someone called you "fat" or "ugly" on the Internet?
Just like they said when cyber bullying was implemented in my country, if it's going to be "real" (really prosecute those that violate that law), we will all be in jail. Which is totally absurd to do.
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.
How about when dealing with an bitcoin exchange ,as far as i know all the exchanges need you to reveal your identity if you are dealing with fiat currency and how can you be anonymous when they really know who you are and one more thing is that bitcoin is not really anonymous .I mean all of the users are anonymous so the government couldn't track us.
In our country, the exchange center that I am using did not and cannot recognize that the fiat I am withdrawing is from bitcoin. So i do believe the anonymity of bitcoin users. And this is why government cannot control where our money come from.
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?
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?
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?
What do you mean by this things? in terms of what that bitcoin become illegal? can you specify it first?
How do you think the community would react? What could be the possible solutions?
Here, this is how I reacted on your question your not giving a specific of how bitcoin become illegal, and specify what do you mean by banning? its very broad you know.
Digital Currency like bitcoin will never stopped. Nothing to worry about its future. There is no government of this digital currency. It will be the controller in the future. It will never stop.
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.
There have been a number of countries claiming that, however, it has not been followed, and I believe it will never happen again. On the contrary, at present, many countries have accepted and legalized bitcoin, which is a good thing. Bitcoin is growing. However, I feel very sad when bitcoin is branched, it is a big influence, and it needs to be fixed soon, otherwise, bitcoin will crash, people are gradually ignoring bitcoin and come to the alt Other coin, alt are showing their stability and goodness compared to bitcoin, this is wrong.
Because there is no threat that bitcoin has imposed on anyone. Cryptocurrency is getting popular because people are seeing the need for it. The governments are not advertising or promoting it because the of the very fact that everything is decentralized. They cannot control the flow of cryptocurrency.
There have been a number of countries claiming that, however, it has not been followed, and I believe it will never happen again. On the contrary, at present, many countries have accepted and legalized bitcoin, which is a good thing. Bitcoin is growing. However, I feel very sad when bitcoin is branched, it is a big influence, and it needs to be fixed soon, otherwise, bitcoin will crash, people are gradually ignoring bitcoin and come to the alt Other coin, alt are showing their stability and goodness compared to bitcoin, this is wrong.
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?
It might not gonna happen, government couldn't control the technology. But what if the governments declared bitcoin as illegal? Maybe people would complain in the current situation that what is the main reasons why the government did that. How do you think the community would react? What could be the possible solutions?
in fact it would be very difficult to do, because if bitcoin will be banned, and bring huge losses, the government must have done this before. Well, maybe they could only specify a bitcoin in a region. I thought, everyone would be looking for work in the real world, and begin to forget the business concerned with bitcoin if it was banned worldwide.
It would be as effective as bans on sodomy are.
Theoretically, it is possible to ban both sodomy and Bitcoin. In order to prevent people from engaging in sodomy, you just need to seal their rectum with Cyanoacrylate or some other type of superglue. Recently, I heard that the ISIS has made use of this technique in the districts of Iraq and Syria which they control. Similarly, to ban Bitcoin, you just need to shut down the internet. If the North Koreans can live without internet, then why can't the others do the same?
governments won't be able to stop the network with legislation. they would have to physically take down every node that keeps popping up which would be time consuming and economically unfeasible
The Government could technically take down every node pretty easily if they really wanted to.Bitcoin would only get banned and stay banned for as long as the Government wants and there is nothing that we could do about it. Just don't get caught using it.
Bitcoin can't be easily shut down by the Government because Bitcoin could get hosted on a different server while the Government officials are trying to shut down the nodes on the main-net.
This is impossiblr to happen since bitcoin is totally supported by us, banning it is not enough to control its users. I amknow somebody who uses bitcoin and he is in a country that bans bitcoin. Government still cannot control its users even if they declare banned.
I don't it happening like that, once it's ban world wide it will be hard for us to use it as there will be a sanction if we violate the law. Bitcoin is decentralized and it is not controlled by the government but we the people are living in a certain country and we are guided by the law
the government created, as simple as that, it will not prosper if it's ban.
It would be as effective as bans on sodomy are.
governments won't be able to stop the network with legislation. they would have to physically take down every node that keeps popping up which would be time consuming and economically unfeasible
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