What would happen if BTC was Banned? - page 50.

Rostadom

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Quote from: soul-impact on January 16, 2017, 09:39:48 AM

There are still people who do not believe in technology due to many reasons.

It's their choice. If I say that I don't like bitcoins or I don't like technology then that's my opinion. You would have a hard time changing that.

Quote from: soul-impact on January 16, 2017, 09:39:48 AM

In fact, in some countries, the Government actually try to stop citizens from using Bitcoin and it is really annoying.

Like what countries?

Quote from: soul-impact on January 16, 2017, 09:39:48 AM

Since Bitcoin are new and created for freedom, they scare that Bitcoin can attack the ecosystem and the fiat system which will damage the country a lot. That's why they are trying to ban it

It's true, though. When people have started using bitcoins, fiat will start to have lesser and lesser attention, thus, losing its value. People might even find more facts about fiat that would lead to making them use bitcoins more. People don't like to be controlled most especially by their governments.

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Quote from: waltonvani on January 16, 2017, 09:50:30 AM

Now, Bitcoin is not accepted by government but it's still important with many people who are loving it. If bitcoin was banned, the investors and also bitcoiners would use it in digital world however bitcoin would be narrow in crypto currency world. I'm sure that this fact will not happen in the future.

many countries have accepted it as a legal thing. the government have also announced it. for example
- Chinese government has announced that bitcoin is legal and trading it is allowed.
- Japan announced bitcoin as a legal currency and usage of it as currency or for trading is legal.
- US also regulated bitcoin trading and has even issued licence to many businesses.
- Canada done some stuff that i can not remember at the moment.
- Russia is supporting bitcoin and its technology and has allowed trading bitcoin.
- and many more.

waltonvani

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Now, Bitcoin is not accepted by government but it's still important with many people who are loving it. If bitcoin was banned, the investors and also bitcoiners would use it in digital world however bitcoin would be narrow in crypto currency world. I'm sure that this fact will not happen in the future.

perla

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Quote from: ?? on ??

Many people would become nervose and sad

like when issues that chinese warn bitcoin investor, the price dropped so much ane people start panic sell their coins, we all know how many people that get sad because of it

soul-impact

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Quote from: romero121 on January 16, 2017, 09:24:17 AM

I don't think that countries will initiate ban over the bitcoin in the future or now. Because now everyone trust on the technology and trying to implement for their own needs. Even Russia had taken back the ban over its people on bitcoin use

There are still people who do not believe in technology due to many reasons. In fact, in some countries, the Government actually try to stop citizens from using Bitcoin and it is really annoying. Since Bitcoin are new and created for freedom, they scare that Bitcoin can attack the ecosystem and the fiat system which will damage the country a lot. That's why they are trying to ban it

JC btc

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If bitcoin was banned here in our country? I'm gonna crazy. But I know it gonna happen here in our country since we are recognizing bitcoin as one of medium exchange though not a legal tender. In other countries it is punishable for them to use bitcoin even not banned but they discouraged using it as they were afraid using it as a tool for illegal transaction.

MWesterweele

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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?

Bitcoin will never banned our bank here in my country they say they will watch over bitcoin and since then i never felt any changes in bitcoin even our based country wallet, If goverment declared bitcoin to be illegal i will surely continouosly use bitcoin rather other currency to earn money .

romero121

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I don't think that countries will initiate ban over the bitcoin in the future or now. Because now everyone trust on the technology and trying to implement for their own needs. Even Russia had taken back the ban over its people on bitcoin use

BitcoinPC

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Quote from: Japinat on January 09, 2017, 12:04:11 AM

Quote from: Rishabh riyz on January 06, 2017, 11:38:57 AM

Banks see it as a threat to the fiat currency and so do government of different countries so they would ban BTC but people would still find new ways to use it and the decision of ban would make BTC more popular

For now, it is not a big threat yet. The users of bitcoin is very small which is less than or equivalent to 1% of the worlds total population, with that number of users, it does not alarm them yet and I am sure they will not ban bitcoins. What they can do is just to regulate bitcoin transaction and to serve their interest to collect the right taxes.

Well, now bitcoin users number is less but still it continuously rising, and we never forget that bitcoin has spend only 7 to 8 years, but still people like it more than other crypto currencies, also many time we competition the bitcoin with fiat currency. Its mean in the coming time, bitcoin grow more and get more popularity, no doubt in it. But about the question, in the coming i don't think that bitcoin could be ban, So use it and make money.

Japinat

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Quote from: Rishabh riyz on January 06, 2017, 11:38:57 AM

Banks see it as a threat to the fiat currency and so do government of different countries so they would ban BTC but people would still find new ways to use it and the decision of ban would make BTC more popular

For now, it is not a big threat yet. The users of bitcoin is very small which is less than or equivalent to 1% of the worlds total population, with that number of users, it does not alarm them yet and I am sure they will not ban bitcoins. What they can do is just to regulate bitcoin transaction and to serve their interest to collect the right taxes.

Rishabh riyz

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Banks see it as a threat to the fiat currency and so do government of different countries so they would ban BTC but people would still find new ways to use it and the decision of ban would make BTC more popular

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Quote from: sabbirshm on January 06, 2017, 05:58:46 AM

Quote from: HashBTC on January 05, 2017, 08:25:41 AM

It can be banned, but it can't be stopped.

Yes,since many people do illegal activities through bitcoin,so some governments will banned bitcoin.But its impossible stop people using bitcoin.Many of us will use VPN to access on bitcoin.Or we will use some proxy website to unblock bitcoin.Overall,i think most of the bitcoin user wont listen to government and will try different way to use bitcoin.

Well I know they've actually banned bitcoins in certain countries but it's not the government but their central banks saw bitcoins as a threat to their local fiat currency but it hasn't stopped people from using bitcoins in those jurisdictions so I doubt if any ban will affect bitcoins negatively, but will rather increase the craze and popularity of bitcoins.

sabbirshm

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Quote from: HashBTC on January 05, 2017, 08:25:41 AM

It can be banned, but it can't be stopped.

Yes,since many people do illegal activities through bitcoin,so some governments will banned bitcoin.But its impossible stop people using bitcoin.Many of us will use VPN to access on bitcoin.Or we will use some proxy website to unblock bitcoin.Overall,i think most of the bitcoin user wont listen to government and will try different way to use bitcoin.

pinoycash

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if a government will censor bitcoin websites, community, bitcoin lovers will always find a way and in the worst case scenario if govt are banning BTC exchange to fiat, there are more alternative to encash btc overseas and in short it wont happen

warwar

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Quote from: sabbirshm on December 26, 2016, 11:04:08 AM

If bitcoin banned then many people will use Vpn to access bitcoin.Because, today many people lived on bitcoin, it's giving them many opportunity to earn money.Government can't stop people using bitcoin absolutely.People will find other ways to access bitcoin.So,it's however will be tough for government to banned bitcoin absolutely.

I agree! well lot of bitcoiners now will find way to bypass the security upon banning bitcoins because we all know we do earn money from it so we are not stopping this. I think if they ban bitcoin in our country well its my firsttime to break the law of government although there are risk that will happen to yyou im also using bitcoin

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Quote from: Positid on January 05, 2017, 11:59:35 PM

Quote from: HashBTC on January 05, 2017, 08:25:41 AM

It can be banned, but it can't be stopped.

Right, because we are the only one that can stop bitcoin and that if we will stop supporting it.

Don't think the sum of users in this forum could cover the whole actual bitcoin users out there, but it's obviously right that bitcoin need the support from its communities, therefore, it can still living up
Even if government really banned bitcoin, the bitcoin users might be outside that region

xIIImaL

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Quote from: millgates on January 06, 2017, 03:40:31 AM

The user still can use it, becouse although they make cooperation with ISP, the user still can use various vpn to use their bitcoin. I think bitcoin is freedom, no one can prevent someone to use bitcoin and governmet cannot trace it.

Bitcoin is decentralized money as of now. Still people are using it and earning it. So already bitcoin already not legal in many however, price is also increasing and being a best online stock. I think bitcoin will be present forever due to future digital adoption.

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Quote from: millgates on January 06, 2017, 03:40:31 AM

The user still can use it, becouse although they make cooperation with ISP, the user still can use various vpn to use their bitcoin. I think bitcoin is freedom, no one can prevent someone to use bitcoin and governmet cannot trace it.

Not so fast, government has everything it need to prevent things from happening, they have the money and could hire people who can do things for them... Though at first it is fine and won't be too harsh to bitcoin user, but I am sure if they fully implement and ban bitcoin, they could take down the source it self...

But since it is not affecting many countries and almost no negative impact yet to them, well, banning them won't be a choice to them, why ban bitcoin if you could just tax the exchanges, and people will be a captured customers since we have no choice...

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Quote from: HashBTC on January 05, 2017, 08:25:41 AM

It can be banned, but it can't be stopped.

i am agree, but if btc was banned, then i am sure people will searching another way to use bitcoin and it would make many of us will found many ways to use bitcoin. it is hard to make stopped bitcoin for now, unless all country give prohibited signal for people to use bitcoin and they ban people for using bitcoin.

millgates

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The user still can use it, becouse although they make cooperation with ISP, the user still can use various vpn to use their bitcoin. I think bitcoin is freedom, no one can prevent someone to use bitcoin and governmet cannot trace it.

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