What would happen if BTC was Banned? - page 40.

Schuyler

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Quote from: Blawpaw on December 18, 2015, 11:23:14 AM

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?

As far as I know, bitcoin is illegal in other countries but people can still use it. As long as there's an internet ,it is imposible to lose the bitcoin. If the government declared that bitcoin is illegal worldwide, bitcoiners will still find a way to continue the transactions using bitcoin.

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Since bitcoin will be banned, meaning it will be illegal. I think many users will still do continue to use bitcoin. Since, it will affect the market value of bitcoin, making it higher. But of course, some countries has legalize bitcoin so there's nothing to worry if bitcoin will be banned. There's a small percent of chances that it will happen.

RedX

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I dont believe its going to be be illegal. Yes it could be banned but not all around the world because i am sure that some other countries would be skeptic and will not accept bitcoin as a form of payment.

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If bitcoin will be declared illegal all over the world and it will be banned. Therefore, most of us will take it lightly. We are going to keep on using bitcoin but we need to hide these transactions in able for us not to be tracked away. It's a normal thing, think about those countries that are condemning illegal drugs but still there are people who are operating there.

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Quote from: danherbias07 on March 20, 2017, 11:53:57 AM

Quote from: gabbie2010 on March 20, 2017, 10:52:42 AM

The question we should ask ourselves is "on what reason should bitcoin be banned? One if it is that if it is not being used for money laundering and used by terrorist organization to transfer fund then bitcoin can not be ban. It is widely being accepted daily.

It is really not just that reason. They can create this technique to manipulate people's and that would be easy considering they can control the media. Just one news can change it all.
It is really the threat for a free currency that they wont have any control with. What would they get with something that is used with freedom and they cant just apply tax easily.

I think that the Government will try to ban Bitcoin because the person that has the most Bitcoin could get a steady payment from Bitcoin Exchanges and turning it into another currency without any issues or the person with a large amount of Bitcoins will be the only one left standing when nobody wants anymore Bitcoin as a substitute for payment. The Government may think that they are trying to help people or some person yet they are only helping themselves.

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Quote from: qiwoman on March 20, 2017, 12:39:50 PM

Quote from: n0ne on March 20, 2017, 06:20:33 AM

Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

Yes even if bitcoin is banned which i don't think will ever happen even in worst case situation if bitcoin is banned still people will use some sort of alternative to use bitcoin and to be honest bitcoin just makes our lives easier and best alternative to fiat so from my point of view bitcoin cannot be banned so easily.

yes that is right to say bitcoin is not going to banned he users of bitcoin will compel the government to consider bitcoin as legal currency. as the number of bitcoin users are increasing from time to time.

qiwoman

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Quote from: n0ne on March 20, 2017, 06:20:33 AM

Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

Yes even if bitcoin is banned which i don't think will ever happen even in worst case situation if bitcoin is banned still people will use some sort of alternative to use bitcoin and to be honest bitcoin just makes our lives easier and best alternative to fiat so from my point of view bitcoin cannot be banned so easily.

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Quote from: gabbie2010 on March 20, 2017, 10:52:42 AM

The question we should ask ourselves is "on what reason should bitcoin be banned? One if it is that if it is not being used for money laundering and used by terrorist organization to transfer fund then bitcoin can not be ban. It is widely being accepted daily.

It is really not just that reason. They can create this technique to manipulate people's and that would be easy considering they can control the media. Just one news can change it all.
It is really the threat for a free currency that they wont have any control with. What would they get with something that is used with freedom and they cant just apply tax easily.

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Quote from: ulhaq on March 20, 2017, 10:43:10 AM

Quote from: n0ne on March 20, 2017, 06:20:33 AM

Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

Several countries have already banned bitcoin. Where are all of you getting your news? The 44th page of the thread and everyone is saying that no country has banned bitcoin. Iceland and Ecuador are 2, and I believe there are many more.

It's true that, there are several countries has banned bitcoin. Need not nothing would hard job, simply doing google search will appear a couple of banning list. Also, there are several nations would soon act to ban Bitcoin. Now concern, is it stopped illegal activities?

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The question we should ask ourselves is "on what reason should bitcoin be banned? One if it is that if it is not being used for money laundering and used by terrorist organization to transfer fund then bitcoin can not be ban. It is widely being accepted daily.

ulhaq

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Quote from: n0ne on March 20, 2017, 06:20:33 AM

Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

Several countries have already banned bitcoin. Where are all of you getting your news? The 44th page of the thread and everyone is saying that no country has banned bitcoin. Iceland and Ecuador are 2, and I believe there are many more.

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However unlikely and practically impossible that scenario is I will answer anyway - Nothing would happen that doesn't now just a move from centralized to decentralized. Not sure what would happen to the forum especially the trading and exchange! Guess it would be closed.

* We may lose a few community members a long the way but it would not be a big deal because we probaby would have lost them anyway. The rest would get smarter.

* The solution would be to continue as is but taking better precautions than we already do. Bitcoiners are not stupid (well the majority aren't) Also there are decentralized exchanges with smart contracts in the alt world that can be used for btc as the main exchange.

Saying that imo there will be no ban on bitcoin as they will see it is near impossible to enforce with decentralized exchanges popping up for trading coins and goods. In my mind they could only regulate and ban centralized exchanges and services.

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Quote from: Leprikon on March 19, 2017, 12:38:11 PM

Quote from: Zenithar on March 19, 2017, 12:05:21 PM

Quote from: Daniel91 on March 19, 2017, 10:43:31 AM

Quote from: TheGodFather on March 19, 2017, 10:33:48 AM

Quote from: Blawpaw on December 18, 2015, 11:23:14 AM

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?

Well, that would be hard . Because most of us rely on using bitcoin. I mean most of us is working using bitcoin . If government or your own country, this will be bad. Think about the posibilities about this one. Bitcoin Society will be down. Bitcoin users will stop and look for another job to do. Because bitcoin is now on our society.

Honestly, I don't believe in such scenario.
World today is very divided and in conflict.
Do you really think that EU and Trump can agree about anything?
Or Putin and EU?
Iran and America?
I don't think so.
They all have very different political and economical interests in the world and I don't believe in unique decision about bitcoin.
Some countries may try to ban bitcoin but I don't believe it's realistic and possible.
They can't close Internet or control each citizen on Internet, no way.
I'm more worried about possible tax for bitcoin income.

i myself do not think that bitcoin is going to be banne, bitcoin will continue as digital currency and hope that the government willl also consider it as legal currency.

I am also confident that bitcoin can not be banned. This is technologically impossible. But you can prohibit or impose large taxes converting bitcoin into a fiat currency

it is just legal most of the the wallet through which we exchange money have restrictions for money laundaring and i think if government should do so, it will lose a lot of money through which it implement tax on the user who exchange it into fait money. so, i think any government of any country will bann it or will be thinking to bann.

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Quote from: Leprikon on March 19, 2017, 12:38:11 PM

Quote from: Zenithar on March 19, 2017, 12:05:21 PM

Quote from: Daniel91 on March 19, 2017, 10:43:31 AM

Quote from: TheGodFather on March 19, 2017, 10:33:48 AM

Quote from: Blawpaw on December 18, 2015, 11:23:14 AM

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?

Well, that would be hard . Because most of us rely on using bitcoin. I mean most of us is working using bitcoin . If government or your own country, this will be bad. Think about the posibilities about this one. Bitcoin Society will be down. Bitcoin users will stop and look for another job to do. Because bitcoin is now on our society.

Honestly, I don't believe in such scenario.
World today is very divided and in conflict.
Do you really think that EU and Trump can agree about anything?
Or Putin and EU?
Iran and America?
I don't think so.
They all have very different political and economical interests in the world and I don't believe in unique decision about bitcoin.
Some countries may try to ban bitcoin but I don't believe it's realistic and possible.
They can't close Internet or control each citizen on Internet, no way.
I'm more worried about possible tax for bitcoin income.

i myself do not think that bitcoin is going to be banne, bitcoin will continue as digital currency and hope that the government willl also consider it as legal currency.

I am also confident that bitcoin can not be banned. This is technologically impossible. But you can prohibit or impose large taxes converting bitcoin into a fiat currency

Yes, bitcoin is hard to ban unless you discover any flaw or loophole in blockchain which make people automatically quit the bitcoins. Other than that bitcoins cant be banned .

positivezero

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Quote from: Blawpaw on December 18, 2015, 11:23:14 AM

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?

I dont know. Maybe it would really just like you've failed in your thesis, or even like you loss your all moneys from casinos. But i think our government would never banned or declare bitcoin as illegal since they dont even know about it. Of course, many people used in bitcoin become upset, mad and dismayed if that would happen. Well i dont know whats the best solution to prevent this kind of problem

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Quote from: n0ne on March 20, 2017, 06:20:33 AM

Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

if bitcoin is really dangerous for an economy of the country then government will thinking to banned bitcoin from being used by the people but to do this, i think the government will think twice before they do it because i am sure that government know that bitcoin user is now growth so fast and if they really do this, bitcoin user will react and will make protest and in the end,bitcoin user will found another way to still using bitcoin.

n0ne

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Till date no country has made official statement banning bitcoin usage within the country. They have just made bitcoin a secondary means and has warned people on using bitcoin considering it an threat to the economy of the country. So now or near future no need to think of a ban on bitcoin. If banning is done, the people search some other way to use it.

Vorth

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Bitcoin will never banned , so don't worry and your best to make big amount of bitcoins !

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

global elite are far too clever to outright ban Bitcoin , risking a backlash.

Instead they will create a covert operation , pay off core developers,
and cripple the network with overly complex code and failure to scale.

#blockstream

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Quote from: prayogi on March 20, 2017, 02:49:50 AM

Maybe we are already a family of bitcoin have to tolerate any hurdle despite government talk that bitcoin is illegal but that is where we know that bitcoin is an organization that will change the world better in my world economy has also been a member of BTC then I am entitled to defend bitcoin

Although illegal bitcoin but we must be able to respond to it patiently and gracefully

Bitcoin is not an organization. It's simply a (thousands) block of codes. You don't have to defend bitcoin at all even when let's say the government has banned it. When you do protest, you might just get to jail since the use of bitcoin is already banned and you're obviously still using it since you're protesting about it.

When bitcoin becomes illegal, people will just become low-key about them using it. Just like how people are so low-key when they are doing drugs. They buy and sell drugs but only to people that they trust and nothing else. Although there's still risks since someone can be a snitch anytime.

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