What would happen if BTC was Banned? - page 7.

hydeevanz

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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 bitcoin will be banned in our country, then definitely there is nothing we can do which means that it cannot be used in any transactions here. However, we can always earn bitcoin here in the forum if it is not banned and internet is always present. For me, maybe 10% of the billions of people in the world who knows about bitcoin and if it is banned worldwide then only a few will get affected. The possible solutions for all of us is to be ready for all the consequences that might happen in the crypto currencies.

Davidbee

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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 the bitcoin is all the world's government banned, so all it related activities will hit, the currency will become illegal miners mining, more and more people selling bitcoin , will slowly depreciate the value of it

gvnsrbtc

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Governments can make it illegal, I know it sounds stupid, but they can do it, Just like China, Korea or Japan tried to do.
If it was banned worldwide I think it would have increased demand on bitcoin. Because human nature works that way. Forbbiden is sweet! So they can ban it, although i don't think it will happen worldwide.

Images21

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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?

Well, to be honest about it, I think there will not be a time when such situation takes place into reality. Because, on the contrary, what is happening in the real world right now is that Bitcoin has gained the green light of so many countries and that a bigger Bitcoin community is therefore created. But if the situation you are raising will take place, I don't Bitcoin will just weaken and die. The Bitcoin community which is solid may actually continue using it even if the governments are banning it. After all, what does decentralization mean to Bitcoin when it bows down to governments?

MMS2017

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I think no one can banned bitcoin in the present time Because it is not in the hands of the people or government it is the internet based currency and widely accepted through out the world. We hope that the people will totally use bitcoin and the cryptos now people would like to buy bitcoin for the future use it is good to hold it now and the future will bright of those who have this money.

Mariela

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Well if all government banned the bitcoin i think that is the end of our community.
But that is only a scenario . There are so many ways to prevent our government for banning bitcoin industry and it is not instantaneous to ban bitcoin.

zmerol

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governments could hinder bitcoin use, and some do that already. It would lead to less use than in a neutral or supportive environment and would therefore also lower the price of bitcoin. How far is difficult to foresee.All governments of the world can't agree to nothing, let alone banning something like BTC, although it's possible in Russia but it would be different in Europe and USA with actual systems regulating things like that, I don't see that happening anytime soon.

amwer

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Saying that imo there will be no ban on bitcoin as they will see it is near impossible to enforce with decentralized exchanges popping up for trading coins and goods. In my mind they could only regulate and ban centralized exchanges and services.

LigwagGanern

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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 ever happen that BTC was banned, I think many users will still do continue to use bitcoin. Since, it will affect the market value of bitcoin, making it higher. But of course, some countries has legalize bitcoin so there's nothing to worry if bitcoin will be banned. There's a small percent of chances that it will happen.

gaurav82

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It can not happen. this is world currency. if it happens then price will fall but they can not stop it.

Lodipetmalu

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Once government made a law that bitcoin is illegal, many people will get angry and very sad since their investment will be lost. They will sell right away their bitcoins just to minimize their losses.

Japinat

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Quote from: EricHodl on February 15, 2018, 10:59:11 AM

Quote from: Crystacool on February 15, 2018, 10:24:45 AM

If bitcoin is banned by all governments around the world, I will immediately sell my bitcoins to reduce my losses. When the world banned bitcoin, it lost circulation. People will not believe in bitcoin, and the number of people in the community will decrease.

Bitconnect had a surge in price when they got shut down by the FBI, could have been the same for BTC.

They will not have the same destiny because bitcoin is not scam like BCC.
Bitcoin is widely recognize in the world and it's popularity is growing, BCC is an investment scheme while bitcoin is not, that's the big difference.

denzkilim

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Quote from: Botnake on February 10, 2018, 10:04:59 AM

Quote from: ace4549 on February 10, 2018, 08:22:41 AM

If the company and management of bitcoin banned, there will be no more bitcoin that will operate in your country since the government prohibits them to operate. All transactions that made bitcoi will be only offered to the countries who do not banned their services.

it's not the company or management who will ban bitcoin, those who have the right to ban are only those who have the power to create a law
When there is now law that will make us liable when using bitcoin then it will surely continue to increase, that is how the law work and I would
not think that the government will ban bitcoin when it's very useful to us.

Very well said, Yup government will think a lot of times before making a move such as banning bitcoin or other forms of crypto currencies because they will lose a lot of votes in the coming government elections lmao. Grin

It is better to make a solid law on how to use bitcoin or other crypto currencies rather than banning this very useful technology to the techie people. I'm hoping that more governments in this world will realize the benefits of crypto currencies to a lot of people and make bitcoin legalize all over the world. Cool

EricHodl

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If Internet (=Bitcoin) was banned we would live in a world without electricity. There is a book about it Ravage by Ravel. I have it on my shelf, I haven't read yet.

manismanja

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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?

it seems very unlikely because bitcoin is a digital currency siruasi or rotation bitcoin will not be banned or banned by anyone so bitcoin will still exist.

EricHodl

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Quote from: Crystacool on February 15, 2018, 10:24:45 AM

If bitcoin is banned by all governments around the world, I will immediately sell my bitcoins to reduce my losses. When the world banned bitcoin, it lost circulation. People will not believe in bitcoin, and the number of people in the community will decrease.

Bitconnect had a surge in price when they got shut down by the FBI, could have been the same for BTC.

Crystacool

newbie

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If bitcoin is banned by all governments around the world, I will immediately sell my bitcoins to reduce my losses. When the world banned bitcoin, it lost circulation. People will not believe in bitcoin, and the number of people in the community will decrease.

mir1127

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I don't think that Bitcoin will Banned! because bitcoin is a mother coin in the crypto world it is decentralized and digital first currency in the world. already bitcoin has been renowned company payment system by the bitcoin, and many counties accept bitcoin.I think bitcoin has core plan so don't think bitcoin will Banned, we are know bitcoin not the company or management who will Banned bitcoin, those who have the right to Banned are only those who have the power to create a law When there is now law that will make us liable when using bitcoin then it will surely continue to increase, that is how the law work and I would not think that the government will ban bitcoin when it's very useful to us,so in my opinion it's not possible, because bitcoin is the mother of crypto currency1BTCBTC

claydeey

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First and foremost bitcoin will not be banned totaly all over the world. Maybe some of the countries which are active in doing BTC transaction today will ban its operations but not the whole world because each country vary in its interest.

millionaireshs

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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?

First of all, I don't think it will happen but if it will, lots of people will be frustrated especially those who engage in crypto currency.
Major reaction will be the worldwide strike and rebellion. Many people will not agree to the current decision a lot of business, especially those who are related to blockchain will experienced shortages and will probably close after all. However, these things will be all useless since it was ordered by the government or worse by the world highest leaders and organizations.
Logically, we have nothing to do but top accept this changes or else will be punished because of possible violations.

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