What would happen if BTC was Banned? - page 6.

wpc143

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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?

For me bitcoin will still continue its business even if it will be banned all over the world because many peoples are trusting bitcoins and using it as an extra income. There are still many people that will invest because they know they can earn much bigger profit.

Ashe-J

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Everybody will use it anyway cause they want to get money .. But it must become anonymous and more serius, People will risk a freedom using bitcoin after ban.

AmberStephenson

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if the government in the whole world will banned bitcoin, i think they will not control the anger of the users. also, they have no control over it means that even they banned it, people will still use i because they are not afraid because they can use bitcoin even without identification. they cannot stop us from using bitcoin

dvillier

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No I don’t think so it is possible because is it possible to banned fiat money ? if not then same is the case with btc. Btc is a standard like $ but the case in btc is that it is only for digital currency and with the passage of time it will become more more popular so don’t think like so nothing like that will happen.

markosimic

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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?

Of course, this will be the pros and cons between the people who use Bitcoin with the Government. Some people who use Bitcoin certainly do not accept that Bitcoin is prohibited by the Government. Because some of them just work and rely on Bitcoin alone.

garen21

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if btc is fast in the Philippines there are many people losing their jobs and above all they have no money sources so the bitcoin name must be increased to the people for as much investment as bitcoin and multiply our earnings.

zentdex

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There are a lot of persons using bitcoin, and people spend a lot of cash on bitcoin. No doubt is banning the bitcoin it will produce a conspicuous downfall not only in value. In the other country, bitcoin is already banned in countries like China, Iceland and Russia and another country. However, Persons can continue consuming the bitcoin even the it bans there are a lot they can do just to have it. Since the currency is decentralized and there are a lot of way to have it and still utilize and use it.

bitcoinbot

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Not all government well ban it. Some government had seen positive energy to bring economical change but duke government had seen the destructive force in bitcoin because it is against some of the police set by government. Also there is no rules and regulations and no central agency to control the flow of the money

CryptoZ7

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In today’s world where newer generations are accepting and getting in tuned to the development influxed by internet, the new world of Bitcoin and Cryptocurrency cannot be stopped. On the contrary it will flourish forever. Bitcoin is not owned by any country. Nobody in the world can ban Bitcoin because in order to do that, the technology of internet will have to be shut down, which is practically impossible.

However, individual governments can either block Cash to Bitcoin conversion. Or the vice versa by shutting down Cryptocurrency exchanges. But, in order do that they need to secure the major chunk of citizens who have already invested in Cryptocurrency, which includes the A1 class citizens as well. They will find it really difficult to trade or get cash when they need it.

Viscore

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Quote from: Ricaking on February 25, 2018, 03:10:01 AM

I think bitcoin can't be banned permanently and totally. Bitcoin can't be shut down unless they shut the internet down, but the community won't bend. That is a fact, there will be always places where bitcoin will be fully legal. Bitcoin is unstoppable and there is no case of this before and its impossible. And if bitcoin would banned in one country then use exchanges located in another country to trade coins.

The government already accepted the fact that they cannot ban bitcoin because it's like they are killing our hope.
What they did is that they regulated it to be fair to us, when we use it or we make money from bitcoin we have to pay taxes so in that way
they can benefit with the system and this will continue to exist.

ElusivePhantom

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I believe that the notion of this industry being decentralised, and not controlled by a central authority or governing body, is what makes it appealing to many of those involved in it. And since there is no central authority, there exists a very low likelihood it could be banned, declared illegal, or deemed otherwise in accordance with the legalistic systematics of any place.

If there was an attempt to try and "ban" it, it would end up like most other things that aren't legal.

Still obtainable, used by those who desire it, and never totally eradicated.

But I don't think it would ever be banned. No one has the authority. And that's the beauty of it I guess Grin

Ricaking

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I think bitcoin can't be banned permanently and totally. Bitcoin can't be shut down unless they shut the internet down, but the community won't bend. That is a fact, there will be always places where bitcoin will be fully legal. Bitcoin is unstoppable and there is no case of this before and its impossible. And if bitcoin would banned in one country then use exchanges located in another country to trade coins.

sadwage

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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?

I think if thats really happen the bitcoin currency will fall down the price and maybe it is end for bitcoin currency..but thats impossible to government's to declare bitcoin is illegal because bitcoin is anonymous and hard to track..

Fesatmas

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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?

The value will decrease even will be no value. Bitcoin is decentralized but if a whole government on various country together ban bitcoin, bitcoin will no power at all so it is with the community they can not do anything.

Fakhri1907

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For me, i will still use bitcoin, because they can't track bitcoin user. And no one can stop people to use their freedom about money (as long the money is from goodness)

adjudicator

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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?

I think bitcoin users wil lbe disappointed to the government of each countries, because bitcoin is being part of their life and bitcoin is only a money which the people who are using it is the one who are doing the bad things. At the end the government will be hard to track the bitcoin users because internet is very complex thing.

Tunaite

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It's not that easy to track a bitcoin user. Some people would just quit since they trust goverment but laws can't stop people from selling drugs and other illegal activities completely, bitcoin would just go underground.

rockyboy

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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?

I guess, all btc users are unstoppable. Probably i will continue my journey with bitcoin as long as i can. The government can set rules but because btc is decentralized and they can't even monitor the users, they cannot stop someone from using bitcoin.

zhopas

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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?

If all governments declared bitcoin is illegal well most of the users will stop using it and definitely transactions cannot be used in their country. But even though many people have stopped using it, there are still people who remain users even say it is illegal in their country. However, the less users of bitcoin, the lower the price value might happen and those people who are selling and investing in bitcoin , will slowly depreciate the value of it.

LastRolling

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Bitcoin will still remain eventhough it would be totally banned in other country. It would not be just erase in just a minute. Its price will only affect.
It wil dumped into lowest price because of low demand and high supply of bitcoin in the market.

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