What would happen if BTC was Banned? - page 70.

dc1a0

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Quote from: dothebeats on October 05, 2016, 09:58:30 PM

If ever it is banned, I think underground transactions and groups would flourish and still continue what was started 7 years ago. Underground marketplaces where people still asks for bitcoin for their goods including illegal merchandise and whatnot. it would still be there, the thing is there would be no third-party legal services that would cater exchanging bitcoin into fiat, same goes for registered merchants on and off the web.

The issue of there being no exchange would not be a problem in that type of situation. To cover your tracks you would simply buy quick selling untraceable merchandise to get fiat instead. There are always ways, that's why bitcoin being decentralized and uncontrollable make what governments think about it moot.

dothebeats

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If ever it is banned, I think underground transactions and groups would flourish and still continue what was started 7 years ago. Underground marketplaces where people still asks for bitcoin for their goods including illegal merchandise and whatnot. it would still be there, the thing is there would be no third-party legal services that would cater exchanging bitcoin into fiat, same goes for registered merchants on and off the web.

ipanks

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Quote from: Hellacopter on October 03, 2016, 01:14:19 PM

I think there is no way to ban Bitcoin, it's decentralized currency and anonymous, and people could keep using it even if governments tried to ban it.

yes and there are more people will using bitcoin including me because i think government will think twice to banned bitcoin because i think they already know about benefit of bitcoin and i think they will consider to integrate bitcoin to.

Doms

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If its banned altogether, it could command a higher price because the demand might still be there. There are a lot of illegal stuff that has a lot of value. And for those who prefer anonymity, bitcoin will be of very good use. I am not saying that even if it becomes illegal, the only thing you can buy with it are illegal stuff. I am thinking more of an underground transaction that's free from any third party interference.

takingthis4

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Quote from: marcuslong on September 21, 2016, 03:51:40 PM

I would do nothing i wont protest on our goverment just to unbanned the bitcoin in our country coz i know they wont do it for the sake of people who using bitcoin as a permanent job as well and our goverment dont care about this cryptocurrency even they know that they will get more money than their kickbacks.

most of the people wouldnt do nothing and we couldnt change anything unfortunately in my opinion

geopolisch

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Quote from: jak3 on October 05, 2016, 11:12:38 AM

i will still use bitcoin even if it gets banded and the nessasary reason for it is the government is not helping me not even a 1 % i can not get a toffee until i reach 18 but with bitcoin i can nobody will query about it anything i am free to use it and thats make me attract to btc

I am also will be doing the same as I believe government will not be able to have any interference on our bitcoin involvements. Using bitcoin after banning will not be difficult in the opinion as I never need to deal with fiats for my bitcoin savings and investments. I am always anonymous and safer with my bitcoins.

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Quote from: Docnaster on October 05, 2016, 11:00:32 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?

Bitcoin for sure in my country will never be banned, It's free use for those jobless in my country helping themselves to know more about what bitcoin really was goverment here in my country really don't cre about this currencies and they all care is real fiat where they use it for illegal things eventually goverment cant touch our bitcoins

But most of you are not answering the question "What If?", All of you are just saying that it won't never happen. But yes if it happened everything illegal will be on high price. Because the demand will be high, unless the FBI or CIA will have the wits to block instantly all sites related to Bitcoin then Bitcoin will be worthless as it won't have any light online.

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There would be a riot. A very small one lol. Depending on whay country, ofcourse

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i will still use bitcoin even if it gets banded and the nessasary reason for it is the government is not helping me not even a 1 % i can not get a toffee until i reach 18 but with bitcoin i can nobody will query about it anything i am free to use it and thats make me attract to btc

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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?

Bitcoin for sure in my country will never be banned, It's free use for those jobless in my country helping themselves to know more about what bitcoin really was goverment here in my country really don't cre about this currencies and they all care is real fiat where they use it for illegal things eventually goverment cant touch our bitcoins

elyas772

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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 fact goverment can't touch bitcoin, goverment can't stop bitcoin transaction, if goverment blocking bitcoin the bitcoin network in his country, im sure we can still avaible to acces it with proxy, vpn etc

dc1a0

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As for bitcoin itself, absolutely nothing would happen, as bitcoin's decentralized nature makes a ban very difficult to enforce. There may be a few sheeple that would do as their elite masters told them and stop using it; either out of fear or brainwashing. However, most free thinking individuals who understand how bitcoin works would continue to use it, though, probably taking a few precautions.

bitcoin-hunter

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Then the people who have hold on to there Bitcoin until that moment will be madder then ever before because all that has been for nothing.
That is why I say that you should sometimes sell when you can make a profit.

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Quote from: marcuslong on September 21, 2016, 03:51:40 PM

I would do nothing i wont protest on our goverment just to unbanned the bitcoin in our country coz i know they wont do it for the sake of people who using bitcoin as a permanent job as well and our goverment dont care about this cryptocurrency even they know that they will get more money than their kickbacks.

I agree with you, good thing here the government dont care about bitcoin so users can freely use it without anyone controlling what you need to do. and if ever they banned bitcoin, i will continue to use it but extra careful this time to not get caught.

Newcoins2020

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Quote from: praprata on June 22, 2016, 01:27:09 PM

Quote from: manselr on June 16, 2016, 06:08:22 PM

No government can ever ban Bitcoin, it will keep rising, the more you try to ban it the worse it will get for the governments trying to attack it: look at Russia. Rubble volume on BTC is blowing up.

Indeed no government can ban it and the fact is also that its just that even if they ban it it will not disappear people will still continue use it without any doubts.

Yeah banning this would take away a sort of freedom which the people wouldn't be happy with for sure.
I know that if it would be banned I'd continue using it it's anonymous anyways just be sure to always sure tor or another vpn etc.

praprata

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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?

Then I would just accept it and go on with my life because there is no reason for me to then be mad because that is going to bring me nowhere.
I would go on and find something else to make some extra money with.

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Quote from: Hellacopter on October 03, 2016, 01:14:19 PM

I think there is no way to ban Bitcoin, it's decentralized currency and anonymous, and people could keep using it even if governments tried to ban it.

Yes, to use bitcoin we never need any permissions from anyone and the only needed thing is having internet connection. But using bitcoin even after ban is only possible as long as you will never need to convert your bitcoin into fiats and fiats to bitcoins. Saving bitcoin will not have any impact with any ban. But, spending bitcoin domestically may find difficult times.

Hellacopter

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I think there is no way to ban Bitcoin, it's decentralized currency and anonymous, and people could keep using it even if governments tried to ban it.

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Quote from: Luke2939 on September 22, 2016, 10:28:09 AM

Even if bitcoin is banned, people will keep using it. The ban can reduce the number of people for sometime but it can grow over time.
Due to the nature of bitcoin, it isn't easy for anyone to ban bitcoin. Bitcoin has proven the success of block chain to the world. Block chain's finest experiment is bitcoin and it doesn't make any sense for anyone to ban bitcoin. Look at China, they have stated that bitcoin is people's right! USA has permitted it. Russia banned it later realized it wasn't a good move. Gradually, every government will recognize bitcoin and will acknowledge it's true power.

Generally prohibited coins end up valuing. and its hard for bitcoin to be banned for a long time due to the interest people have in this digital currency.

Luke2939

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Even if bitcoin is banned, people will keep using it. The ban can reduce the number of people for sometime but it can grow over time.
Due to the nature of bitcoin, it isn't easy for anyone to ban bitcoin. Bitcoin has proven the success of block chain to the world. Block chain's finest experiment is bitcoin and it doesn't make any sense for anyone to ban bitcoin. Look at China, they have stated that bitcoin is people's right! USA has permitted it. Russia banned it later realized it wasn't a good move. Gradually, every government will recognize bitcoin and will acknowledge it's true power.

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