What would happen if BTC was Banned? - page 55.

Juggy777

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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?

Which country will ban it. Wait a second no country owns Bitcoin. Drugs are banned so don't people use it. People use it. So if it gets banned price will shoot up the sky. So ya banned or not banned I did use it.

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Quote from: sevendust777 on December 01, 2016, 07:54:31 AM

If bitcoin will banned, definitely all bitcoin users will suddenly gets
disappointed. Because bitcoin gives an extra income to users, as this
brings more advantages to users. This gives also an less hassle,
save time and effort by using bitcoin as payment. Thus, more
bitcoin users will be disappointed.

I will be very upset because bitcoin giving me opportunity to earn extra money and making my life more easier.I wont get those advantages which bitcoin give me.Also i wont able to do trading with bitcoin and earn money easily.At last i will get very upset.

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If bitcoin will banned, definitely all bitcoin users will suddenly gets
disappointed. Because bitcoin gives an extra income to users, as this
brings more advantages to users. This gives also an less hassle,
save time and effort by using bitcoin as payment. Thus, more
bitcoin users will be disappointed.

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Quote from: Betwrong on December 01, 2016, 05:51:08 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?

Since Bitcoin is already banned in some countries we can ask people from those countries about how they deal with the situation. IMO it would be extremely hard to ban BTC all over the world nowadays. Many people have trust in Bitcoin, and they are educated people, and they won't give up easily, they for sure will figure out how to solve this problem.

Very few countries have banned and made strict regulations, I believe people from those countries are still using bitcoin through some other mediator. When one starts to use bitcoin, then giving a pause to it is really hard. As oppositions rise against bitcoin in countries, there are countries which have been making long term plans to implement digital currencies.

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Quote from: Bitcoin0916 on November 30, 2016, 05:58:40 PM

Until now my country or government still banned bitcoin, but not give effects for user's. Now, bitcoin use more than 3℅ peoples in this earth. So, if any government banned bitcoin not effects with bitcoin performance.

I think in some countries as well as things that happen in your country. they prohibit the use of bitcoin, but that did not stop the user to continue using bitcoin? Because of what? users will still be safe because they are invisible and anonymous

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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?

Since Bitcoin is already banned in some countries we can ask people from those countries about how they deal with the situation. IMO it would be extremely hard to ban BTC all over the world nowadays. Many people have trust in Bitcoin, and they are educated people, and they won't give up easily, they for sure will figure out how to solve this problem.

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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?

In my opinion if it got banned then we can't do nothing than to exit because we can see many e example of past where we see that Country government banned btc and the due to this reason many people sell his Bitcoin that turned into down of Bitcoin price . So we can't do anything it happen .

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Quote from: ufaiz50 on December 01, 2016, 04:55:55 AM

Quote from: olushakes on December 01, 2016, 01:01:54 AM

Quote from: Boss CJ on December 01, 2016, 12:52:20 AM

If bitcoin was banned, maybe I will get frustated and sad. Why would they banned the bitcoin, but I think they can't do that since we are in a modern world and bitcoin has been part of our life now, maybe the government would just imposed tax thru transactions in trading, transferring money, exchange rather than removing the bitcoin.

I actually dont want to think about it but if it eventually happened? Then I see a lot of crashing coming in at the same time the end of Bitcoin because if the world is having a uniform position on that then I see the more advanced technology being deployed to make sure its effective but at the same time people will still use like we still have dark net but not definitely people like me who have low level of computer usage.

still have not thought of myself if bitcoin will be banned, In Germany, Bitcoin is recognized as a private currency. While in the United States and Canada, bitcoin is already commonly used in business circles and banking. so I think bitcoin has a great future

but in controvesial countries like russia , thailand and china they are strictly on bitcoin usage, on these countries bitcoin considered as illegal currency . but as you can see there a lot of russian and chinese actively mining and run various bitcoin business , so it's doesn't matter if then bitcoin banned or not.

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I still think it's very hard to ban bitcoin or any crypto currency in general but governments can still try to diminish its usage though thus affecting its usefulness for the people.

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For any country ban bitcoin, that could make the people react against, i mean, they can start search and invest at bitcoin, taking out the power and control that banks and countries does have over their people. I do believe bitcoin has already its place, even if some countries does try to block it.

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Quote from: Liang_Kubur on November 30, 2016, 08:49:45 PM

Banning of bitcoin by many countries because they want to do full control of currency in circulation so that it could determine economic policy. A simple example is the determination of the interest rates the bank of great impact for the economy.

yeah of course also because bitcoin will not be controlled by the government so they prefer to save them from the threat of currency bitcoin, so that the government banning to bitcoin

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Quote from: olushakes on December 01, 2016, 01:01:54 AM

Quote from: Boss CJ on December 01, 2016, 12:52:20 AM

If bitcoin was banned, maybe I will get frustated and sad. Why would they banned the bitcoin, but I think they can't do that since we are in a modern world and bitcoin has been part of our life now, maybe the government would just imposed tax thru transactions in trading, transferring money, exchange rather than removing the bitcoin.

I actually dont want to think about it but if it eventually happened? Then I see a lot of crashing coming in at the same time the end of Bitcoin because if the world is having a uniform position on that then I see the more advanced technology being deployed to make sure its effective but at the same time people will still use like we still have dark net but not definitely people like me who have low level of computer usage.

still have not thought of myself if bitcoin will be banned, In Germany, Bitcoin is recognized as a private currency. While in the United States and Canada, bitcoin is already commonly used in business circles and banking. so I think bitcoin has a great future

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Quote from: Bitcoin0916 on November 30, 2016, 05:58:40 PM

Until now my country or government still banned bitcoin, but not give effects for user's. Now, bitcoin use more than 3℅ peoples in this earth. So, if any government banned bitcoin not effects with bitcoin performance.

I think when all governments around the world prohibit the use bitcoin and block all websites related to bitcoin, it's finished bitcoin,
I think legalization is important for the future of bitcoin

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Quote from: olushakes on December 01, 2016, 01:01:54 AM

Quote from: Boss CJ on December 01, 2016, 12:52:20 AM

If bitcoin was banned, maybe I will get frustated and sad. Why would they banned the bitcoin, but I think they can't do that since we are in a modern world and bitcoin has been part of our life now, maybe the government would just imposed tax thru transactions in trading, transferring money, exchange rather than removing the bitcoin.

I actually dont want to think about it but if it eventually happened? Then I see a lot of crashing coming in at the same time the end of Bitcoin because if the world is having a uniform position on that then I see the more advanced technology being deployed to make sure its effective but at the same time people will still use like we still have dark net but not definitely people like me who have low level of computer usage.

bitcoin is global and banning is local. so when a local ban happens there will only be some small drops and that wouldn't be because of selling but because of FUD and newbies panicking about price. and then afterwards there will be price rise again.
the thing to remember is that bitcoin is not centralized so that you can ban it and prevent people from investing in it.

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Quote from: Boss CJ on December 01, 2016, 12:52:20 AM

If bitcoin was banned, maybe I will get frustated and sad. Why would they banned the bitcoin, but I think they can't do that since we are in a modern world and bitcoin has been part of our life now, maybe the government would just imposed tax thru transactions in trading, transferring money, exchange rather than removing the bitcoin.

I actually dont want to think about it but if it eventually happened? Then I see a lot of crashing coming in at the same time the end of Bitcoin because if the world is having a uniform position on that then I see the more advanced technology being deployed to make sure its effective but at the same time people will still use like we still have dark net but not definitely people like me who have low level of computer usage.

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If bitcoin was banned, maybe I will get frustated and sad. Why would they banned the bitcoin, but I think they can't do that since we are in a modern world and bitcoin has been part of our life now, maybe the government would just imposed tax thru transactions in trading, transferring money, exchange rather than removing the bitcoin.

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Quote from: Positid on November 30, 2016, 10:26:58 PM

Quote from: Liang_Kubur on November 30, 2016, 08:49:45 PM

Banning of bitcoin by many countries because they want to do full control of currency in circulation so that it could determine economic policy. A simple example is the determination of the interest rates the bank of great impact for the economy.

Most likely that's the main reason why some countries are banning bitcoin because they cannot make income with the transaction as it's not taxable and not transparent enough in their eyes, let's just hope it will not happen as I believe we can get more benefits with using bitcoin that fiat in transaction.

The main reason is the government will not get any revenue from this Bitcoin transaction. And if our govt make this Bitcoin as legal currency then black money transaction will become very easy. So in many countries, this Bitcoin is banned.

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Quote from: Liang_Kubur on November 30, 2016, 08:49:45 PM

Banning of bitcoin by many countries because they want to do full control of currency in circulation so that it could determine economic policy. A simple example is the determination of the interest rates the bank of great impact for the economy.

Most likely that's the main reason why some countries are banning bitcoin because they cannot make income with the transaction as it's not taxable and not transparent enough in their eyes, let's just hope it will not happen as I believe we can get more benefits with using bitcoin that fiat in transaction.

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Banning of bitcoin by many countries because they want to do full control of currency in circulation so that it could determine economic policy. A simple example is the determination of the interest rates the bank of great impact for the economy.

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Quote from: betohell on November 30, 2016, 06:32:58 PM

Quote from: Bitcoin0916 on November 30, 2016, 05:58:40 PM

Until now my country or government still banned bitcoin, but not give effects for user's. Now, bitcoin use more than 3℅ peoples in this earth. So, if any government banned bitcoin not effects with bitcoin performance.

as well as the country they prohibit the use of any virtual currency, but once again they will not be able to stop users to continue using bitcoin, because they can not stop, so it does not give any effect

Prohibition of bitcoin because it was feared could replace the official country currency, so that people will switch to bitcoin and certainly economically use bitcoin can be hard to use for transactions of real for example buy directly. And also because its price tends to rise could create an inflexible pieces priced goods and commodities.

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