Topic: What would happen if BTC was Banned? - page 45. (Read 65852 times)
Its very difficult for the government to ban bitcoin because its anonymous.But there is another easy way for the government to do that. For buying and selling of bitcoins definitely we will use fiat currency. And for that we need banks help .By bypassing banking procedures definitely its not possible to get bitcoins. What government will do is they will check each and every transaction done by fiat currency. They will monitor each and every account transactions. In that way itself government can control 60 percent of bitcoin trade. I am not telling government can control 100 percent. But atleast tto an extent government can control bitcoin transactions.
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?
The gov in my country declared weed is illegal, i still smoke inside my bedroom.
If the gov in the world declared bitcoin is illegal, we still use it inside our pc.
They cant track it, but if the gov hiring real god hacker to destroy all bitcoin address, miners, wallet and everything about bitcoin , then i'll sell all my btc before that happen, go outside and get some job.
I doubt that you'll be able to sell your bitcoins when that happens. Maybe someone is already doing something like that but we're all still not aware of it. We don't know what's happening on the other parts of the world. You better sell it while everything's fine. When he finishes doing his work, all of this will be gone in just a matter of seconds. This will all be gone instantly and you wouldn't have the time to sell your bitcoins both in exchanger or peer-to-peer. Although I really doubt that someone can wipe the whole bitcoin network since there's no central point to hack.
thats the point, there is no way to wipe whole system. If all government in the world want to remove bitcoin from this world, they really need to shut whole internet down forever. Yeah you right, there is no time to sell if that happen. I'll just selling some when it too much.
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?
The gov in my country declared weed is illegal, i still smoke inside my bedroom.
If the gov in the world declared bitcoin is illegal, we still use it inside our pc.
They cant track it, but if the gov hiring real god hacker to destroy all bitcoin address, miners, wallet and everything about bitcoin , then i'll sell all my btc before that happen, go outside and get some job.
I doubt that you'll be able to sell your bitcoins when that happens. Maybe someone is already doing something like that but we're all still not aware of it. We don't know what's happening on the other parts of the world. You better sell it while everything's fine. When he finishes doing his work, all of this will be gone in just a matter of seconds. This will all be gone instantly and you wouldn't have the time to sell your bitcoins both in exchanger or peer-to-peer. Although I really doubt that someone can wipe the whole bitcoin network since there's no central point to hack.
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?
The gov in my country declared weed is illegal, i still smoke inside my bedroom.
If the gov in the world declared bitcoin is illegal, we still use it inside our pc.
They cant track it, but if the gov hiring real god hacker to destroy all bitcoin address, miners, wallet and everything about bitcoin , then i'll sell all my btc before that happen, go outside and get some job.
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?
The gov in my country declared weed is illegal, i still smoke inside my bedroom.
If the gov in the world declared bitcoin is illegal, we still use it inside our pc.
They cant track it, but if the gov hiring real god hacker to destroy all bitcoin address, miners, wallet and everything about bitcoin , then i'll sell all my btc before that happen, go outside and get some job.
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?
Probably if bitcoin was banned all around the world's i and most current user of bitcoin will keep using bitcoin because as far as i know bitcoin can used by anonymously. So i think there is no one knows my personal identity.
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?
Probably if bitcoin was banned all around the world's i and most current user of bitcoin will keep using bitcoin because as far as i know bitcoin can used by anonymously. So i think there is no one knows my personal identity.
Your love of something doesn't make it legal. People love the movie "The Purge" but is it legal to kill people at a certain day every year? No. People love to get a lot of money and some would steal from others just to be rich, but it's still illegal. The government don't care if you love to do something or not. If they think it should be illegal, then it would be declared as illegal. Another example is drugs. Tons of people love to get high but then again marijuana is still illegal.
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?
Probably if bitcoin was banned all around the world's i and most current user of bitcoin will keep using bitcoin because as far as i know bitcoin can used by anonymously. So i think there is no one knows my personal identity.
BTC is not managed by the organization, the manager is the user. so it hardly happens
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?
Bitcoin is already working independently of the states. Even if states prohibit bitcoin, the presence of the bitcoin system will continue.
Some problems may arise when goverments declare bitcoin illegal. For example, both bitcoin users and bitcoin miners can be arrested. Then the use of bitcoin may be reduced. Normal users can stop using bitcoin. Bitcoin continues to be used only in its undergound.
government , united nations or anything can make a rules to ban bitcoin , but they cannot stop the operation ,
it has experienced by bitcoin users from china and russia ,
they are frustated to stop people using bitcoin and then just let it run.
The bitcoin system needs miners to survive. States may apply forcible closures against mine pools.
When you imagine such a situation, it's intriguing by the bitcoin use for normal users?
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?
Probably if bitcoin was banned all around the world's i and most current user of bitcoin will keep using bitcoin because as far as i know bitcoin can used by anonymously. So i think there is no one knows my personal identity.
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?
Bitcoin is already working independently of the states. Even if states prohibit bitcoin, the presence of the bitcoin system will continue.
Some problems may arise when goverments declare bitcoin illegal. For example, both bitcoin users and bitcoin miners can be arrested. Then the use of bitcoin may be reduced. Normal users can stop using bitcoin. Bitcoin continues to be used only in its undergound.
government , united nations or anything can make a rules to ban bitcoin , but they cannot stop the operation ,
it has experienced by bitcoin users from china and russia ,
they are frustated to stop people using bitcoin and then just let it run.
In reality, there are some countries that banned bitcoin but they cannot stop people to use it even though they announced that is banned. One of the reasons is because they have no control over it and the next one is because it can be use without any qualifications and requirements.
of course, even though the government banned bitcoin, but the government will not be able to do anything to restrain the rate of bitcoin, they could not hold the community in their country to not use bitcoin, because you only need to use the internet to 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?
How do you think the community would react? What could be the possible solutions?
Probably if bitcoin was banned all around the world's i and most current user of bitcoin will keep using bitcoin because as far as i know bitcoin can used by anonymously. So i think there is no one knows my personal identity.
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?
Bitcoin is already working independently of the states. Even if states prohibit bitcoin, the presence of the bitcoin system will continue.
Some problems may arise when goverments declare bitcoin illegal. For example, both bitcoin users and bitcoin miners can be arrested. Then the use of bitcoin may be reduced. Normal users can stop using bitcoin. Bitcoin continues to be used only in its undergound.
Knowing these facts, it is possible to conclude that the government would only create more problems for them, since it would make other people know Bitcoin, and certainly would not cause technical problems in the network.
That's called the Streisand effect. Instead of burying bitcoins to history by banning it, it will just become a way to make bitcoins known by the public. It would surely create more problems to them because they would have to monitor more people since more people know of bitcoins at that point.The ban could have an impact on the price, but probably not on the use, because the network would continue to work. In addition, the effect on price would be temporary, since the free market always stabilizes after some time.
But they differ on the stabilize time. Let us assume that bitcoins is finally known by the public, people would slowly be into bitcoins. Stabilizing time will be after the time almost everyone has bought and invested the amount of bitcoins that they want/need. That would be quite a long time, I guess.All in all, banning bitcoins might be something that's good for us since it would make bitcoins be recognized by the public but we're not sure of that since there would still be changes in the internet world over the next years.
In reality, there are some countries that banned bitcoin but they cannot stop people to use it even though they announced that is banned. One of the reasons is because they have no control over it and the next one is because it can be use without any qualifications and requirements.
Yes that is right and I have heard that Russia was also one of them who banned bitcoin for their citizens and when they found that it is useless to ban bitcoin and their countries and they realized that adopting bitcoin is more beneficial then they once again allow their citizens to use bitcoin. 
All governments of the world can't agree to nothing, let alone banning something like BTC, although it's possible in Russia but it would be different in Europe and USA with actual systems regulating things like that, I don't see that happening anytime soon.
The idea of a ban is to prevent users from using it so while having the practical approach, it's fairly impossible for the governments to ban bitcoin completely unless they ban whole connectivity to the world (internet). Even though it would decrease the number of user base but still anyone can still be able to use bitcoins via TOR and other VPNs in the case of a ban.
The ban could have an impact on the price, but probably not on the use, because the network would continue to work. In addition, the effect on price would be temporary, since the free market always stabilizes after some time.
Nothing will happen if bitcoin is banned in all countries. People will continously use it eventhough it's banned. Thanks for its anonymous nature. Ah Offcourse bitcoin users will decrease. It's price will also decrease. Because less users will decrease the demand of bitcoin. This will affect its price too. But still people will use it. Infact it's banned in many countries. But all are using it. In my case, yeah I will use because it's easy to send and receive money to any part of the world. Instant receiving into the wallet, less transaction fee compared to PayPal and other bank procedures and moreover it's safe and anonymous and no government procedures or tax for the amount I received or transfered.
In reality, there are some countries that banned bitcoin but they cannot stop people to use it even though they announced that is banned. One of the reasons is because they have no control over it and the next one is because it can be use without any qualifications and requirements.
You are right many country already banned bitcoin for many reason like money laundry and also government didn't have any control of it.In my country bitcoin has banned already but people who are interested to use bitcoin they use VPN to access.I think for some bad people we can't use bitcoin legally.
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