What would happen if BTC was Banned? - page 62.

carlerha

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Quote from: madwica on November 07, 2016, 12:54:21 AM

Quote from: millgates on November 07, 2016, 12:42:24 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?

I am Not really sure, may be goverment will pay genious in computer to block bitcoin. But if there is ginna be various vpn we can still use bitcoin.

I think more users will get angry to bitcoin management if bitcoin will get banned in the country which is more users live there, and the trust of other users in different country will get lost the bitcoin will die for sure.

hope we will not face the same situation, as the users of bitcoin are increasing regularly which is making bitcoin more stronger and therefore it is not possible that bitcoin can be banned.

madwica

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Quote from: millgates on November 07, 2016, 12:42:24 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?

I am Not really sure, may be goverment will pay genious in computer to block bitcoin. But if there is ginna be various vpn we can still use bitcoin.

I think more users will get angry to bitcoin management if bitcoin will get banned in the country which is more users live there, and the trust of other users in different country will get lost the bitcoin will die for sure.

millgates

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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 am Not really sure, may be goverment will pay genious in computer to block bitcoin. But if there is ginna be various vpn we can still use bitcoin.

rajasumi2

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if bitcoins are banned ,then the exchange rate will get increased to a massive level and the transactions would become face to face ,in which it will be more used in illegal drugs .
the goverment will search for every detail of the person previouusly because he used to bitcoins .and i dont think bitcoins will become illegal. germany uses bitcoins to pay out bills and it would be no other surprise if other countries uses it too..kudoos

Boss CJ

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Quote from: BitcoinHodler on November 02, 2016, 07:38:46 AM

Quote from: Daneric on November 02, 2016, 07:22:13 AM

Believe it or not, OP may be right when he questions what will happen to bitcoin if it was banned. We should appreciate the fact that bitcoin has not been fully accepted worldwide. It is only a small fraction of the global population that is aware and is using bitcoin. The possibility of it being rejected globally is high. We all know that governments have the monopoly of controlling currencies, if the world governments are not going ratify the use of bitcoin, then I am afraid its use will be so limited.

what you failed to realize is that bitcoin is not centralized so nobody can tell you how you are using it. in other words if someday by any chance bitcoin was banned you can still continue using bitcoin, hold it and trade in on exchanges and also exchange it for cash face to face and nobody can stop you from doing it.

Bitcoin is a digital currency. I don't think they will disallowed using it. Maybe in gambling since it can lead you to addiction.

Diced90

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Get'em boys

bitcoin is a life style and banning would crash alot of peoples new habits

BitcoinHodler

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Quote from: Daneric on November 02, 2016, 07:22:13 AM

Believe it or not, OP may be right when he questions what will happen to bitcoin if it was banned. We should appreciate the fact that bitcoin has not been fully accepted worldwide. It is only a small fraction of the global population that is aware and is using bitcoin. The possibility of it being rejected globally is high. We all know that governments have the monopoly of controlling currencies, if the world governments are not going ratify the use of bitcoin, then I am afraid its use will be so limited.

what you failed to realize is that bitcoin is not centralized so nobody can tell you how you are using it. in other words if someday by any chance bitcoin was banned you can still continue using bitcoin, hold it and trade in on exchanges and also exchange it for cash face to face and nobody can stop you from doing it.

Daneric

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Believe it or not, OP may be right when he questions what will happen to bitcoin if it was banned. We should appreciate the fact that bitcoin has not been fully accepted worldwide. It is only a small fraction of the global population that is aware and is using bitcoin. The possibility of it being rejected globally is high. We all know that governments have the monopoly of controlling currencies, if the world governments are not going ratify the use of bitcoin, then I am afraid its use will be so limited.

Boss CJ

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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 don't think they will do that, Bitcoin started since 2008 and I haven't heard any issue for this, if ever they must have been investigated it in the past years.

ajun96

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Quote from: Tyrantt on November 01, 2016, 07:18:35 AM

I don't think that the first thought will bebbanning it. Since they too probably know that it would still be used and they wouldnt have the means of atopping it completely, so probably they'd try to find a way to earn from that like opening state bitcoin banks or taxing it in sone way.

I think many governments have thought of that to benefit from the bitcoin before the next stage. because they think giving taxes to the bitcoin users is impossible. so I think they had only one choice, conduct banning the bitcoin, and it is already happening in some countries? but I think it did not leave much of an effect

mirakal

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Quote from: buyinbtc on November 02, 2016, 02:36:54 AM

People wouldn't be happy, and of course price of bitcoin would fall a lot, to 200$ or even less, but i don't think that all countries will ban bitcoins, few might ban but not every

I think it will be worthless because when it's ban that means using bitcoin then will be illegal and any illegal things has consequences base on the law of a certain country, of course we are all afraid to be charge for illegal activities and maybe bitcoin that time will die and will never resurrect again.

buyinbtc

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People wouldn't be happy, and of course price of bitcoin would fall a lot, to 200$ or even less, but i don't think that all countries will ban bitcoins, few might ban but not every

tempo7

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Something like that is not possible. It is technically possible maybe but practically it is not because we are using bitcoin only in bitcoin network and no body can ban this network permanently so the thing the governments can tell about bitcoin is making determent news only to not use it.

croutonhexagon

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Doesn't affect me because. Bitcoin is spread world wide in network and no one can put complete ban on it. And I will continue using bitcoin and no one could ever detect me because i will use it once a month or once in 2 months. So who would ever wait to arrest me. I don't care really if bitcoin get banned in my country

croutonhexagon

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Doesn't affect me because. Bitcoin is spread world wide in network and no one can put complete ban on it. And I will continue using bitcoin and no one could ever detect me because i will use it once a month or once in 2 months. So who would ever wait to arrest me. I don't care really if bitcoin get banned in my country

doomistake

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I'm sure that if that happens in the near future, the bitcoin community would go on rage because of this, because banning bitcoin is not really necessary though it is also being used in some illegal activities like buying drugs online and so on. Since thebitcoin users can't be track and would remain anonymous, bitcoin users would still use bitcoin even though in this kind of situation.

croutonhexagon

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Doesn't affect me because. Bitcoin is spread world wide in network and no one can put complete ban on it. And I will continue using bitcoin and no one could ever detect me because i will use it once a month or once in 2 months. So who would ever wait to arrest me. I don't care really if bitcoin get banned in my country

ipanks

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Quote from: dEjAvU97 on November 01, 2016, 01:17:06 AM

I guess if Bitcoin was banned, there would be no more exchanges as the would all be shut down. I would still use Bitcoin because how would they track me down? But Bitcoin wouldn't be adopted and you wouldn't be able to use it, except for trading with other Bitcoin users.

i only think in my mind, if all exchanges all be shut down, but in the meantime, the price of bitcoin is really high, did the exchanges really want to shut down their services while they can make big profit for buying and selling bitcoin?

i think if government is really banned bitcoin, then the bitcoin community still playing with bitcoin, and maybe the price will be up than the price now, because we all know that bitcoin itself is not controlling by government, its because of user.

mace15

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Bitcoin is a worldwide digital currency and is legal. We can't stop
anyone in doing transactions. But, if ever happen that btc will be
banned, many users will dismay and will have big much loses of
money. Thus, as of now its still a speculation though.

Tyrantt

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Need some spare btc for a new PC

I don't think that the first thought will bebbanning it. Since they too probably know that it would still be used and they wouldnt have the means of atopping it completely, so probably they'd try to find a way to earn from that like opening state bitcoin banks or taxing it in sone way.

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