What would happen if BTC was Banned? - page 48.

Roboabhishek

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Quote from: Amph on December 18, 2015, 11:29:09 AM

i would continue to use, good luck track me if i can buy face to face and hold my fortune in bitcoin

many things are banned, but they are still used

that's the reason I think I am using bitcoins, not being traced

The thing is that you cannot ban a thing which you cannot access by law or by power from access I mean total control.

BitFinnese

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Quote from: charmingfreddie on January 17, 2017, 03:01:45 PM

Then everybody will wonder why and want to use them. The ban would not work anyway and it will make the government look really bad. There is a country in South America that has banned it but I dont remember which onw.

Not really instead it is the other way around. Remember Governement have all the power and trust of the majority of its people. So if the government labeled BTC as illegal and banned it, those who are holding BTC and trasacting with it will really look bad. Because these people will go underground transaction in order to use their BTC.

charmingfreddie

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Then everybody will wonder why and want to use them. The ban would not work anyway and it will make the government look really bad. There is a country in South America that has banned it but I dont remember which onw.

nikilavi

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Wait what bitcoin getting banned. I don't think something like that will ever happen. But even if it happens it won't affect the price at all i think the price of bitcoins will end up increasing as whatever things are illegal in this world it has higher cost. Take the example of porn itself it is banned most of the countries but do people stop visiting those sites no so i guess you got your answer.

alphablitzer

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Quote from: Mastsetad on January 17, 2017, 12:42:27 PM

Quote from: avikz on January 17, 2017, 07:22:53 AM

Bitcoin is already banned in few countries and it didn't effect its growth. But however, if all the countries ban bitcoin from being used, then it will be a problem and only the darknet people will have access to it. It will become a major underground currency.

Also normal people like me will get back to their day job and hope for a better future.

Maybe yes or maybe not. I may start finding something else and many other people like me and you would surely look for something else and for sure there will be someone to produce something else to engage us on internet like bitcoin which would take us again to another world, there is always a possibility of something like that, but only if bitcoin gets into a situation like that.

I guess it won't be fair since not everyone knows how the dark web works and how it's going to be done. People would really try to access Bitcoins because of its potential. It's really an innovation made by Satoshi and it's really been working well. I don't think it's going to happen, not on this technological era today.

Mastsetad

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Quote from: avikz on January 17, 2017, 07:22:53 AM

Bitcoin is already banned in few countries and it didn't effect its growth. But however, if all the countries ban bitcoin from being used, then it will be a problem and only the darknet people will have access to it. It will become a major underground currency.

Also normal people like me will get back to their day job and hope for a better future.

Maybe yes or maybe not. I may start finding something else and many other people like me and you would surely look for something else and for sure there will be someone to produce something else to engage us on internet like bitcoin which would take us again to another world, there is always a possibility of something like that, but only if bitcoin gets into a situation like that.

vasrasus

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Quote from: Zadicar on January 17, 2017, 09:12:05 AM

Quote from: webtricks on January 17, 2017, 08:47:24 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?

Ban on Internet is hardly a problem. Nice example is porn, countries try to ban it but no results. Suppose Bitcoin gets ban, what you think this forum will end?
Indeed not, Bitcoin will keep going as it is. However, people may not able to exchange it for cash but still it use as digital currency will aclaim overtime.

Bitcoin could possibly be banned but people would still use it no matter what as long they saw the benefits and opportunities that it give to them.If bitcoin is banned on your your country you could still make hidden transactions by using vpn.It would be really still useless even they cant encash their bitcoin on their country they could anytime to exchange it directly from other people.

Right, we who wanted to use it will find our way to do it so even if it will tag as illegal user of bitcoin. Though banning of it is far from the idea of our government it wasn't much known in our country that it seems it doesn't exist in the minds or eyes of our government so there will always lots of time to try the development and services bitcoin can offer.

Zadicar

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Quote from: webtricks on January 17, 2017, 08:47:24 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?

Ban on Internet is hardly a problem. Nice example is porn, countries try to ban it but no results. Suppose Bitcoin gets ban, what you think this forum will end?
Indeed not, Bitcoin will keep going as it is. However, people may not able to exchange it for cash but still it use as digital currency will aclaim overtime.

Bitcoin could possibly be banned but people would still use it no matter what as long they saw the benefits and opportunities that it give to them.If bitcoin is banned on your your country you could still make hidden transactions by using vpn.It would be really still useless even they cant encash their bitcoin on their country they could anytime to exchange it directly from other people.

President79

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Many people desperate, especially in this forum. They will stress, depression and negative thinking. Tool mining already purchased will they damaged and finally they become criminals, robbers, drugs seller and other crime.

webtricks

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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?

Ban on Internet is hardly a problem. Nice example is porn, countries try to ban it but no results. Suppose Bitcoin gets ban, what you think this forum will end?
Indeed not, Bitcoin will keep going as it is. However, people may not able to exchange it for cash but still it use as digital currency will aclaim overtime.

Taki

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Quote from: COIN LTD on January 17, 2017, 02:48:56 AM

There is a tiny chance that bitcoin will be bannend in a global orchestrated action, but it is, as said, tiny. Maybe some countrys wil become a tax haven like bitcoin habitat then Cheesy

I think it is pretty possible to bitcoin would be banned all around the world or in some countries. In the case that the pricefor bitcoin will reach the point of 10000$ per coin. I am pretty sure that those countries where usual monthly salary is 100$ can ban bitcoin. Bitcoin cost pretty high even now and i think it is very good opportynity for people with low salaries allow to themselves something better.

FlightyPouch

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As far as I know. Bitcoin is free, you can do whatever you want to do with it. You can even buy drugs from it and the government dont really care about that, unless youre caught using it and having it. The thing is, it is not illegal, why will it be banned. And if it is banned. I really dont know what will i do.

diegz

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Quote from: avikz on January 17, 2017, 07:22:53 AM

Bitcoin is already banned in few countries and it didn't effect its growth. But however, if all the countries ban bitcoin from being used, then it will be a problem and only the darknet people will have access to it. It will become a major underground currency.

Also normal people like me will get back to their day job and hope for a better future.

Even without banning bitcoin, we should always focus on our day job, it is a must that we earn from day job and not just in earning cents from working for bitcoin the whole day.

But that's true, if bitcoin will be banned by many, there is a chance that it will be used in most dark marketplaces and will really make ordinary people stay away from it. Most probably a country would ban bitcoin for a reason and not just an ordinary reason, it should be something that might affect the country or the use of it becomes a threat to national security.

Botnake

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Quote from: john2231 on January 17, 2017, 07:37:42 AM

Quote from: jossiel on January 17, 2017, 07:13:27 AM

Quote from: Ankara on January 17, 2017, 04:35:58 AM

Bitcoin cant be banned and it work out.

Only the exchanges and centralized services can be attempted to be shut down.

Actually it can be ban by a specific country where it is going to be prohibited and not allowed to be use by any of its citizen.

However banning bitcoin doesn't have something to do with the government either, I don't even think that they will take bitcoin seriously.

So banning bitcoin is not really a problem as governments are not really interested into it.

They are just banning it i think because of the reason that bitcoin was use for illegal activity and you know that bitcoin is anonymous its is hardly to trace someone if there is illegal transaction,. that is why i think they are banning bitcoin in some countries.. since many cardless option online that we can use right now yeah it is not a problem that bitcoin will be ban in their country..

By saying that, do you think fiat is not used for illegal activities also? I think there's a volume of illegal activities for fiat users than the bitcoin users, the government are not banning fiat instead because it's their creating and they can control it. Bitcoin is something that does not give them benefits, we benefit from it and government has lessen it's taxes so there will be no support from them.

john2231

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Quote from: jossiel on January 17, 2017, 07:13:27 AM

Quote from: Ankara on January 17, 2017, 04:35:58 AM

Bitcoin cant be banned and it work out.

Only the exchanges and centralized services can be attempted to be shut down.

Actually it can be ban by a specific country where it is going to be prohibited and not allowed to be use by any of its citizen.

However banning bitcoin doesn't have something to do with the government either, I don't even think that they will take bitcoin seriously.

So banning bitcoin is not really a problem as governments are not really interested into it.

They are just banning it i think because of the reason that bitcoin was use for illegal activity and you know that bitcoin is anonymous its is hardly to trace someone if there is illegal transaction,. that is why i think they are banning bitcoin in some countries.. since many cardless option online that we can use right now yeah it is not a problem that bitcoin will be ban in their country..

Blitzboy

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Quote from: ReLieD on January 17, 2017, 04:32:22 AM

First of all it is not an illegal thing that i would be banned
Secondly It is just a place where people work to earn BTC.
AND WHY TO THINK ABOUT THINGS WHICH WONT HAPPEN.
Even if they ban it , bitcoin has become very much popular and more over it has soo much power to
regain itself. So dont worry , your money will be safe here.

"Things which won't happen"?? This has already happened in some countries and some other are having the intention to do the same thing. And secondly, "your money will be safe here"? So do you mean that our bitcoin will be protected from the governments who are trying to stop this or from other reasons? I don't get your point.

avikz

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Bitcoin is already banned in few countries and it didn't effect its growth. But however, if all the countries ban bitcoin from being used, then it will be a problem and only the darknet people will have access to it. It will become a major underground currency.

Also normal people like me will get back to their day job and hope for a better future.

jossiel

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Quote from: Ankara on January 17, 2017, 04:35:58 AM

Bitcoin cant be banned and it work out.

Only the exchanges and centralized services can be attempted to be shut down.

Actually it can be ban by a specific country where it is going to be prohibited and not allowed to be use by any of its citizen.

However banning bitcoin doesn't have something to do with the government either, I don't even think that they will take bitcoin seriously.

So banning bitcoin is not really a problem as governments are not really interested into it.

Xester

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Quote from: Hydrogen on January 17, 2017, 06:52:10 AM

If BTC was banned, it would depend on whether the reason for it was legal.

Then the case would end up in court.

If BTC was banned, it could mean facebook and other corporate entities which use their own currency would also have their currencies banned.

Which could mean that there is some corporate pressure not to ban btc due to the legal precedent that would arise as a result.

Well if that is the case then I will be very thankful but if fiat virtual currencies will replace bitcoin then there is a huge possibility that bitcoin banning is just close to shore. China will soon going release its fiat virtual currency to replace Chinese Yuan and so what will be its effect on bitcoin, will they ban bitcoin or not is a big question. But I hope bitcoin can overcome all obstacles that will come its way.

Hydrogen

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If BTC was banned, it would depend on whether the reason for it was legal.

Then the case would end up in court.

If BTC was banned, it could mean facebook and other corporate entities which use their own currency would also have their currencies banned.

Which could mean that there is some corporate pressure not to ban btc due to the legal precedent that would arise as a result.

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