What would happen if BTC was Banned? - page 46.

Xenophoto

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Quote from: Botnake on January 20, 2017, 07:40:08 AM

Quote from: erickkyut on January 20, 2017, 06:53:45 AM

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.

For bitcoin alone, they have no control of that and that is true since the system cannot be destroyed nor manipulated. The main problem then would be in the event we will convert our bitcoin into fiat, exchange sites will be having a problem or maybe will not continue to operate at all.

How can we use our bitcoin without fiat then?

I'm certain that when bitcoin got banned in a lot of countries, we would be using exchangers from a country where bitcoin isn't banned. There are also people buying bitcoins using their Paypal. You can make profit while converting your bitcoins then. Get it to your Paypal then cash the money out right away so he can't dispute it.

If we start to live a world where bitcoin is banned everywhere, people would just have to go back to person-to-person or peer-to-peer trading. We would do meetups and have to stay as anonymous as we can.

I really doubt that the government can control all of these but those are our only options when it happens.

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Quote from: erickkyut on January 20, 2017, 06:53:45 AM

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.

For bitcoin alone, they have no control of that and that is true since the system cannot be destroyed nor manipulated. The main problem then would be in the event we will convert our bitcoin into fiat, exchange sites will be having a problem or maybe will not continue to operate at all.

How can we use our bitcoin without fiat then?

coynedterm

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Quote from: bravehearth0319 on January 20, 2017, 07:28:55 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?

Most of the people all around the world don't care about in anything. Especially nowadays majority of the illegal matters is still exist. So I think majority of the bitcoin community will continue to use bitcoin, because we know we are unknown here, safe and secured, the government can't tract us due to we are decentralised in bitcoin.

Yupp!,, As bitcoin is established is due to our each other trust , So if it will happen then still people of darkweb will use bitcoin . Because they will remain in full trust of bitcoin even after the declaration of bthe bitcoin as illegal . Well here I am.thinking it cannot be ban in some countries in which bitcoin is officially accepted from long ago And the government of those countries are incouraging To use bitcoin , So here instead of thinking negative think we should always be positive .

bravehearth0319

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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?

Most of the people all around the world don't care about in anything. Especially nowadays majority of the illegal matters is still exist. So I think majority of the bitcoin community will continue to use bitcoin, because we know we are unknown here, safe and secured, the government can't tract us due to we are decentralised in bitcoin.

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Quote from: BitHodler on January 20, 2017, 06:11:53 AM

Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

Bitcoin can't be banned directly, but there are ways to prevent it from growing larger.

- Force all ISPs to ban all data related to Bitcoin, which of course also means that nodes, miners, payment services, and the list goes on, gets banned.
- Force all mobile carriers to do exactly the same.
- Force all businesses to stop whatever form of Bitcoin usage.
- Force through serious penalties for when people or businesses break the rules by avoiding the law.

And there probably are more ways where governmente can play a real nasty game to prevent Bitcoin from growing larger.

Your points are right, the government will not ban bitcoin directly, but they have the capability to stop all possible ways. I think no government will take that much risk. Because still bitcoin does not become more popular in all countries, only online gamblers and trader and small business people are using this Bitcoin. So this will not effect to all country governament, once all transaction will strat with bitcoin then governments will take this type of strict decision.

erickkyut

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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.

BitHodler

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Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

Bitcoin can't be banned directly, but there are ways to prevent it from growing larger.

- Force all ISPs to ban all data related to Bitcoin, which of course also means that nodes, miners, payment services, and the list goes on, gets banned.
- Force all mobile carriers to do exactly the same.
- Force all businesses to stop whatever form of Bitcoin usage.
- Force through serious penalties for when people or businesses break the rules by avoiding the law.

And there probably are more ways where governmente can play a real nasty game to prevent Bitcoin from growing larger.

Dudeperfect

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Quote from: jackshephard on January 19, 2017, 12:54:19 PM

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.

Mr.ExtraOrdinary

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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?

Like you said it can't be really banned but only declared it as illegal,if this hapens many people will stop using it at least in the beggining but as soon as they realize that they can't be caught they will return back.Personally i wouldn't stop using it but i would be more careful with my transactions.

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Quote from: Tanic on January 19, 2017, 12:55:54 PM

Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

I think it's easy to ban bitcoin to any country that would count bitcoin as something bad. They could ban all the sites that work with bitcoin on the territory of their country. For example, Betcoin.ag doesn't work in Russia, cause of they saw some danger in it or alike.

you are right. it may be difficult for bitcoin banned throughout the world, but it would be very easy for the government to do just that in a country. Well, I think it would lead to an economic crisis, rising unemployment, and still a lot of bad things will happen if bitcoin will be banned in some countries.

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Quote from: ASHLIUSZ on January 20, 2017, 04:32:23 AM

but the users who have been benefiting from the digital currency use will surely try for an alternate solution to overcome the issues of ban and continues to use.

That's really true once you're attached to bitcoin and you knew that there's huge benefit of using it, especially financially problems etc, then you will find ways to get it and access it, and even me will do that, even the government in our country will do this. But I hope it will not happen.

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Quote from: ASHLIUSZ on January 20, 2017, 04:32:23 AM

Quote from: Tanic on January 19, 2017, 12:55:54 PM

Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

I think it's easy to ban bitcoin to any country that would count bitcoin as something bad. They could ban all the sites that work with bitcoin on the territory of their country. For example, Betcoin.ag doesn't work in Russia, cause of they saw some danger in it or alike.

That might be the case in few countries, but the users who have been benefiting from the digital currency use will surely try for an alternate solution to overcome the issues of ban and continues to use. Only the people who use it for illegal needs fear, others just stick to it.

I don't see any difference between people who are using it for illegal bitcoin transaction cannot be traceable even if they continuously changes there address after transaction. It is very hard to find who doing illegal activities with bitcoin.

ASHLIUSZ

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Quote from: Tanic on January 19, 2017, 12:55:54 PM

Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

I think it's easy to ban bitcoin to any country that would count bitcoin as something bad. They could ban all the sites that work with bitcoin on the territory of their country. For example, Betcoin.ag doesn't work in Russia, cause of they saw some danger in it or alike.

That might be the case in few countries, but the users who have been benefiting from the digital currency use will surely try for an alternate solution to overcome the issues of ban and continues to use. Only the people who use it for illegal needs fear, others just stick to it.

poplolnman

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Quote from: KennyR on January 17, 2017, 05:26:23 AM

Quote from: poplolnman on January 17, 2017, 04:51:43 AM

Quote from: Amph on January 17, 2017, 02:36:08 AM

Quote from: Anno MMXVII on January 17, 2017, 01:55:05 AM

As anything banned, such as drugs or alcohol during the Prohibition, the price will rise a lot, and that will attract criminals. Not However not very sure how criminals could conduct a Bitcoin traffic as they do with drugs, but there will be definitively an action from their side.

i don't think so, even if bitcoin is banned you can still use it easily, no government will ever check if you are sending a transaction abroad to your friend or family

also bitcoin will continue to work on many other country, banning it in one country will not make any difference,

unless those that are in that country hold a very high amount and are in any way unable to use them, which mean that those coin are kinda like lost coins

the worst scenario are when most countries around the world agree to fight bitcoin together and banned globally which i think it's almost impossible to be happened isn't it? there wouldn't be a significant effect to bitcoin user even china previously have been declared that they are not supporting bitcoin and ban to whoever use bitcoin , but hey look now they are leading in bitcoin development.

Same as China before certain time period Russia banned bitcoin into the country and now it has taken back the ban. They have planned to make it supportive for their financial system through the Blockchain technology. Possibly over the years to come banning of bitcoin won't be there.

They have bad view in bitcoin at first due they didn't know much yet about bitcoin , but once they are get into bitcoin world and learn more deep they would feel how much bitcoin benefit can affected to their financial system , that 's what happened to china and russia.

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Quote from: Mastsetad on January 19, 2017, 12:53:49 PM

Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

The concept is like: if all the countries ban bitcoin for their citizen to not to be used then they wont need to destroy the internet or any computers, they can simply order not to use bitcoin and if someone is caught doing that they would be in prison for years. Who would do it after hearing that?

we can hope that we will not face such kind of situation, and hope that bitcoin will continue forever. i think government will not bane bitcoin because it is now becoming one of the important factor of our life, like computer and internet, we cannot think about the world without internet and same is the case of bitcoin, without bitcoin i do not think that in future we can think without bitcoin.

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Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

I think it's easy to ban bitcoin to any country that would count bitcoin as something bad. They could ban all the sites that work with bitcoin on the territory of their country. For example, Betcoin.ag doesn't work in Russia, cause of they saw some danger in it or alike.

jackshephard

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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.

Mastsetad

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Quote from: shapeshiftscam on January 18, 2017, 10:32:29 AM

Bitcoin would be never banned, because it is decentralized crypto currency. How to ban it? Destroy the internet or our computers? It is not WORLD WAR II age.

The concept is like: if all the countries ban bitcoin for their citizen to not to be used then they wont need to destroy the internet or any computers, they can simply order not to use bitcoin and if someone is caught doing that they would be in prison for years. Who would do it after hearing that?

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Quote from: romero121 on January 19, 2017, 09:18:32 AM

Quote from: Kray on January 19, 2017, 08:45:02 AM

If this happen, i think bitcoin price will increase significant

That's unfair, if banning is done sure a loss in the user profile happens. This will decrease the demand and will have larger supply, which tends for price fall rather than increase in price. So for growth increasing users and increase in adoption periodically is a must.

Things which are banned always sell for a premium. When prohibition is in place, alcohol sells for a premium in the black market. So the laws of supply and demand can work in mysterious ways.

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Quote from: romero121 on January 19, 2017, 09:18:32 AM

Quote from: Kray on January 19, 2017, 08:45:02 AM

If this happen, i think bitcoin price will increase significant

That's unfair, if banning is done sure a loss in the user profile happens. This will decrease the demand and will have larger supply, which tends for price fall rather than increase in price. So for growth increasing users and increase in adoption periodically is a must.

I disagree with you Romero121, first of all they can only ban it's usage but they can't stop it because the technology is decentralized so if it's banned worldwide I think it's going to be like a hot commodity that's going to be kept underworld like drugs and other contraband goods so an artificial demand will be created which will rather shoot the prices up.

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