What would happen if BTC was Banned? - page 64.

agamasrori

sr. member

Activity: 364

Merit: 250

Quote from: mirakal on October 30, 2016, 12:09:28 AM

Quote from: MingLee on October 29, 2016, 09:43:47 PM

Quote from: Harlot on October 29, 2016, 08:52:07 PM

Quote from: TTMNewsK on October 29, 2016, 07:44:16 PM

Bitcoin can't be banned totally.
Why? Because it is legal. Many countries are using it and they also earn by investing to it.
If there is a chance to bitcoin to be banned, I think it is just for some country and not in worldwide.
Most of us needs bitcoin.

First of all this statement is false. as many countries such as Thailand, Ecuador, and Russia declared Bitcoin as illegal, unregulated currency. Also other countries don't allow the buy and sell of Bitcoin in their country. Your bitcoin right now currently haw no laws for providing arrest or criminal liability but if something big arises from that expect to have a new law for it.

IIRC Russia is actually warming up to the idea of Bitcoin and they don't think of it completely as some form of illegal foreign currency to be burned along with whatever else they don't like. Some of the government officials are speculated to have some Bitcoin holdings as well, as because of that they might all have a slight conflict of interest.

Using bitcoin gives us freedom and how can the government would think about banning bitcoins when people are patronizing it, that is a complete violation of our human rights I guess as people created the government, it was our votes that put them there so they should respect the voice of majority, only corrupt government will ban bitcoin.

You right event goverment can not stop the users of bitcoin to use it as a currency. So nothing happen if goverment banning bitcoin, it does not affect on bitcoin. Goverment can not rule bitcoin.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: MingLee on October 29, 2016, 09:43:47 PM

Quote from: Harlot on October 29, 2016, 08:52:07 PM

Quote from: TTMNewsK on October 29, 2016, 07:44:16 PM

Bitcoin can't be banned totally.
Why? Because it is legal. Many countries are using it and they also earn by investing to it.
If there is a chance to bitcoin to be banned, I think it is just for some country and not in worldwide.
Most of us needs bitcoin.

First of all this statement is false. as many countries such as Thailand, Ecuador, and Russia declared Bitcoin as illegal, unregulated currency. Also other countries don't allow the buy and sell of Bitcoin in their country. Your bitcoin right now currently haw no laws for providing arrest or criminal liability but if something big arises from that expect to have a new law for it.

IIRC Russia is actually warming up to the idea of Bitcoin and they don't think of it completely as some form of illegal foreign currency to be burned along with whatever else they don't like. Some of the government officials are speculated to have some Bitcoin holdings as well, as because of that they might all have a slight conflict of interest.

Using bitcoin gives us freedom and how can the government would think about banning bitcoins when people are patronizing it, that is a complete violation of our human rights I guess as people created the government, it was our votes that put them there so they should respect the voice of majority, only corrupt government will ban bitcoin.

MingLee

hero member

Activity: 490

Merit: 520

Quote from: Harlot on October 29, 2016, 08:52:07 PM

Quote from: TTMNewsK on October 29, 2016, 07:44:16 PM

Bitcoin can't be banned totally.
Why? Because it is legal. Many countries are using it and they also earn by investing to it.
If there is a chance to bitcoin to be banned, I think it is just for some country and not in worldwide.
Most of us needs bitcoin.

First of all this statement is false. as many countries such as Thailand, Ecuador, and Russia declared Bitcoin as illegal, unregulated currency. Also other countries don't allow the buy and sell of Bitcoin in their country. Your bitcoin right now currently haw no laws for providing arrest or criminal liability but if something big arises from that expect to have a new law for it.

IIRC Russia is actually warming up to the idea of Bitcoin and they don't think of it completely as some form of illegal foreign currency to be burned along with whatever else they don't like. Some of the government officials are speculated to have some Bitcoin holdings as well, as because of that they might all have a slight conflict of interest.

Harlot

hero member

Activity: 1806

Merit: 672

Quote from: TTMNewsK on October 29, 2016, 07:44:16 PM

Bitcoin can't be banned totally.
Why? Because it is legal. Many countries are using it and they also earn by investing to it.
If there is a chance to bitcoin to be banned, I think it is just for some country and not in worldwide.
Most of us needs bitcoin.

First of all this statement is false. as many countries such as Thailand, Ecuador, and Russia declared Bitcoin as illegal, unregulated currency. Also other countries don't allow the buy and sell of Bitcoin in their country. Your bitcoin right now currently haw no laws for providing arrest or criminal liability but if something big arises from that expect to have a new law for it.

TTMNewsK

sr. member

Activity: 350

Merit: 250

Bitcoin can't be banned totally.
Why? Because it is legal. Many countries are using it and they also earn by investing to it.
If there is a chance to bitcoin to be banned, I think it is just for some country and not in worldwide.
Most of us needs bitcoin.

seven2smoke

sr. member

Activity: 336

Merit: 250

What you mean with if BTC was Banned?
If you mean that will be illegal, I think that a very bad surprise for bitcoin community.
It's the worse thing for bitcoin users.
Solutions is:
use bitcoin in the dark.
Try to use other digital currency Like Litecoin or ETH etc ..

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Well, I'll write here what would happenin this situation
At first exchange websites would be freezed
Many people would lost their money
There wouldn't be interesting trading (bitcoin is great)
I think no bitcoin = no altcoin in this situation
All miner hardwares and softwares would be unusable
There wouldn't be way of anonymous transaction
And such great thing like bitcoin is, would be dissapeared but this won't happen!

ivanst776

legendary

Activity: 1540

Merit: 1003

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 first thing that I think would happen is that many exchanges will freeze their clients funds and trying to find a way to refund them or maybe bankrupt.

Because of this the bitcoin price would definitely decrease dramatically and there would be a panic selling of people that have invested their money for a long time.

genos

hero member

Activity: 574

Merit: 500

Any store can buy, sell, and accept Crypto

Quote from: crairezx20 on October 29, 2016, 12:32:17 PM

Quote from: rottenfruits on October 29, 2016, 12:21:33 PM

Things like that don't happen worldwide in sudden, There are laws and regulations in most of the advanced world and I guess BTC is still far from forming a threat that such movement come in place... I guess the community will still use it even if it is banned.

Well they will still use it because you can use bitcoin only in the internet so anytime you can deal in your house without going to outside.
For me if it is banned i can be still to use bitcoin since i am always online.. in my house..

The other matters if bitcoin waa ban is bitcoins are anonymous online coin. So wgen you use it or use make a transaction with bitcoin , no one knows mate.
I think ban bitcoin without strong reason is impossible to do even though government try to do it.

PokerFace3

hero member

Activity: 700

Merit: 500

Quote from: passwordnow on October 28, 2016, 05:22:30 PM

Quote from: mrcash02 on October 28, 2016, 04:34:13 PM

If the government gives us decent opportunities to live and is a legit and trustful government I won't complain about it.

Otherwise, I would at least try to make them reverse this rule and make BTC allowed again with a group of people with the same interest.

So you are going to create a political just to make bitcoins allowed by the government again. Count me in if the government will ban bitcoin, but I don't think so that this is going to happen because instead of banning it. What they are going to do is use bitcoin and add some tax and they will earn from it, so why they will ban.

Yes, it is better for them to a kind of allow these of bitcoin so that they can be able to charge some tax on any transaction involving bitcoin. Bitcoin is a digital currency and cannot be easily banned because people can still find ways to use it like by using it through proxy/VPN. The best thing to do is just to legalize it IMO.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: rottenfruits on October 29, 2016, 12:21:33 PM

Things like that don't happen worldwide in sudden, There are laws and regulations in most of the advanced world and I guess BTC is still far from forming a threat that such movement come in place... I guess the community will still use it even if it is banned.

Well they will still use it because you can use bitcoin only in the internet so anytime you can deal in your house without going to outside.
For me if it is banned i can be still to use bitcoin since i am always online.. in my house..

rottenfruits

newbie

Activity: 28

Merit: 0

Things like that don't happen worldwide in sudden, There are laws and regulations in most of the advanced world and I guess BTC is still far from forming a threat that such movement come in place... I guess the community will still use it even if it is banned.

Rostadom

hero member

Activity: 713

Merit: 501

Quote from: Abbybenson on October 28, 2016, 05:34:16 PM

if bitcoin was banned there would be a huge negative impact on the price for sure it wouldnt even matter if some of the people would still use it everyone would dump their all bitcoins to get rid of it and take out as much money as possible so lets hope this thing will not ever happen.

I don't think people would be panic selling at that time. I think that most bitcoin users will just be 'chill' about it because there's nothing to worry about. Most of us are computer literate and we can all understand how VPN works and what it exactly does. Bitcoin being banned will only get non-bitcoin users more scared to try bitcoins. But looking at the bright side of it when that happens, it will be in the news. Maybe that can even be a way for us to find new whales that would pump the market.

Mr. Big

global moderator

Activity: 2324

Merit: 1179

While my guitar gently weeps!!!

Quote from: Abbybenson on October 28, 2016, 05:34:16 PM

if bitcoin was banned there would be a huge negative impact on the price for sure it wouldnt even matter if some of the people would still use it everyone would dump their all bitcoins to get rid of it and take out as much money as possible so lets hope this thing will not ever happen.

Of course there is an impact, but I think it won't be that big anymore, most probably those who are earning bitcoin are the first one that would quit, but if you are making profit from your capital, then giving up would be your last option... It's like a forumite being banned for copy pasting, quitting is not their option, instead they will find a way to make a new account or buy one to copy paste more...

genos

hero member

Activity: 574

Merit: 500

Any store can buy, sell, and accept Crypto

Quote from: shinratensei_ on October 28, 2016, 06:49:10 PM

Quote from: bL4nkcode on October 28, 2016, 05:29:56 PM

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?

All government in the world? I guess it will never happen some of them use bitcoin as a hidden transaction to those have illegal businesses. But if it happens, I will continue using it, no one can force me to stop it using bitcoin as long it still there.

Which the best for you about some option, 1. Always staying for using bitcoin or you will get a jail and 2. stop using bitcoin or you're not going to jail.... which is the best for you... and i think it's will very confusing for choosing between of the both, i love bitcoin but i love myself.

I think We do not have to be worry for get in jail if we use bitcoin, becouse it would not be happen. No reason for banmed bitcoin becouse although bitcoin used for illegal transaction, fiat was used for illegal transaction too. If goverment banned bitcoin by this reason, they must be banned fiat too. Anyway bitcoin have anonimity so goverment could not know who bitcoin users is.

carlerha

hero member

Activity: 588

Merit: 500

Quote from: MaritiJames3 on October 20, 2016, 08:51:00 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?

If bitcoin would be banned then I guess that I have no use for the bitcoin that I have saved up, that would make me mad because I have used my own money to get them.
Then all this has been for nothing and I would never have anything to do with crypto currencies.

do not worry bitcoin is not going any where, bitcoin is getting more stronger than its previous position. and hope that all the governments will soon consider bitcoin as legal currency and then people will get more confidence about bitcoin.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: bL4nkcode on October 28, 2016, 05:29:56 PM

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?

All government in the world? I guess it will never happen some of them use bitcoin as a hidden transaction to those have illegal businesses. But if it happens, I will continue using it, no one can force me to stop it using bitcoin as long it still there.

Which the best for you about some option, 1. Always staying for using bitcoin or you will get a jail and 2. stop using bitcoin or you're not going to jail.... which is the best for you... and i think it's will very confusing for choosing between of the both, i love bitcoin but i love myself.

betohell

sr. member

Activity: 476

Merit: 250

Quote from: Abbybenson on October 28, 2016, 05:34:16 PM

if bitcoin was banned there would be a huge negative impact on the price for sure it wouldnt even matter if some of the people would still use it everyone would dump their all bitcoins to get rid of it and take out as much money as possible so lets hope this thing will not ever happen.

I think it would not give much of an effect, you know that today there are several countries that have banned bitcoin, and it does not give a bad effect on bitcoin, you can see it?

Abbybenson

member

Activity: 98

Merit: 10

if bitcoin was banned there would be a huge negative impact on the price for sure it wouldnt even matter if some of the people would still use it everyone would dump their all bitcoins to get rid of it and take out as much money as possible so lets hope this thing will not ever happen.

mrcash02

hero member

Activity: 1190

Merit: 525

CryptoTalk.Org - Get Paid for every Post!

Quote from: passwordnow on October 28, 2016, 05:22:30 PM

Quote from: mrcash02 on October 28, 2016, 04:34:13 PM

If the government gives us decent opportunities to live and is a legit and trustful government I won't complain about it.

Otherwise, I would at least try to make them reverse this rule and make BTC allowed again with a group of people with the same interest.

So you are going to create a political just to make bitcoins allowed by the government again. Count me in if the government will ban bitcoin, but I don't think so that this is going to happen because instead of banning it. What they are going to do is use bitcoin and add some tax and they will earn from it, so why they will ban.

Yes, if they are smart they will just set some fees to make profit for them also.

I think Bitcoin reached at a point which the most powerful mens won't want the end of this crypto-currency, they will want take some advantages for them for sure, but won't ban it from the country economy...

Topic: What would happen if BTC was Banned? - page 64. (Read 65853 times)