What would happen if BTC was Banned? - page 71.

Sweetbtc

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Quote from: Xester on September 21, 2016, 09:03:09 AM

Well to answer it, I will still continue to use bitcoin but I guess it would be hard to exchange those to fiat currency. We could only use that for payments on online products.

I agree it difficult to exchange for paper money, but it could generate an appreciation of Bitcoin depending on which country it was.

marcuslong

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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.

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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?

Obviously, the community of bitcoin will refuse that government decision. I means as long as the bitcoin not make terrible affect for live such as bitcoin always only use to gambling or bitcoin just bring big problem etc. Bitcoin can not become illegal by whole the world. I think if all the governments in the world really want to declared bitcoin to be illegal, it should have a great reason to support that decision.

richardsNY

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Quote from: Xester on September 21, 2016, 09:03:09 AM

I think and I am positive that it would not happen that the government will declare bitcoin as illegal. Banks here in our country is one of the instrument to deposit and buy some bitcoins.

Well to answer it, I will still continue to use bitcoin but I guess it would be hard to exchange those to fiat currency. We could only use that for payments on online products.

Even if Bitcoin is indeed banned in your country, there are various ways where you can still use Bitcoin via a VPN. This is important for people that are offering their services to the public as freelancer for BTC payments for example. Otherwise they will miss out on a big part of their income.

ayesha sadiqa

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Quote from: Velkro on September 21, 2016, 02:37:12 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?

There is no REAL reason to ban bitcoin. So its impossible to unite in that goal all countries/goverments in this matter

simple as that.

i think nothing is impossible in this world, so it is possible that bitcoin can ban but it is not so much easy and i think it is going more and more difficulty day by day because more and more people are entering in the world of bitcoin and they are making bitcoin more stronger.

royalfestus

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Quote from: danherbias07 on September 20, 2016, 08:28:58 AM

Actually it is banned in China but they still have the largest amount of bitcoin. How is that? This one can explain it thoroughly to avoid misunderstanding. It can be banned but with just certain industries.

Quote

China

It is a common misconception that bitcoin and digital currency are totally banned and illegal in China, but China has become the world’s largest bitcoin trading market. The bitcoin ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government. Banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. Trading or mining in bitcoin is not illegal for common citizens.

That is restriction not ban, under a monitored process.

Velkro

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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?

There is no REAL reason to ban bitcoin. So its impossible to unite in that goal all countries/goverments in this matter

simple as that.

royalfestus

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Quote from: Cozynunu on September 20, 2016, 09:48:14 AM

What would happen if the bitcoin was banned i dont think bitcoin can be banned you know that bitcoin are used for allot of illegal things so maybe in the future we dont know?

Illegal use is a misinformation. Anonymity was the wrongful use that is rumored illegal. Illegallity should be the reason why it should be ban but like every other currency, bitcoin serve more purpose of exchange, investment, trade that are legal and acceptable on the internet, which means everywhere on the WWW.

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Quote from: Altynbekova on September 21, 2016, 08:49:26 AM

Then nothing would happen but people losing their Bitcoin, we would just have to go on with our lives and try to make some extra money in a other way.
It is really something if Bitcoin is banned if you still have Bitcoin left because then you cannot sell them.

That is simply not true. You are still living in a fiat world, your brain still has not realized that Bitcoin itself is money. You're assuming that all Bitcoiners simply use Bitcoin as a speculative asset to gain more fiat money. Nothing could be further from the truth. Please don't assume that your own attitude towards Bitcoin is representative for the whole Bitcoin community. It is not. You worship fiat scam money, which is the total antagonism of Bitcoin. You're not a real Bitcoin user.

Even if all governments ban Bitcoin, it would still be almost impossible to prevent direct Bitcoin use. If people offer their goods and services for Bitcoin without fiat conversion, governments will have a hard time to do anything about it.

ya.ya.yo!

Xester

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I think and I am positive that it would not happen that the government will declare bitcoin as illegal. Banks here in our country is one of the instrument to deposit and buy some bitcoins.

Well to answer it, I will still continue to use bitcoin but I guess it would be hard to exchange those to fiat currency. We could only use that for payments on online products.

vero

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I think bitcoin is banned in some countries but they still using bitcoin, this time we are still fighting till the world recognize bitcoin.

Altynbekova

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Then nothing would happen but people losing their Bitcoin, we would just have to go on with our lives and try to make some extra money in a other way.
It is really something if Bitcoin is banned if you still have Bitcoin left because then you cannot sell them.

Legasean

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Do you really think the bitcoin can be banned i dont think so because i know that peopel cant trace the bitcoins so they cant ban them off course all illegal things are happening with bitcoins.

Cozynunu

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What would happen if the bitcoin was banned i dont think bitcoin can be banned you know that bitcoin are used for allot of illegal things so maybe in the future we dont know?

umaOuma

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Quote from: Daniel91 on September 20, 2016, 09:40:43 AM

Nothing.
I will still use Bitcoin, as before.
I don't think that my local government have resources and time to check Internet activities of all citizens.
Of course, I will not be able any more to exchange my BTC funds to my local currency and cash out to my bank account or in some other, official way, but I will find the way.
They will not stop me to use Bitcoin, no way

Yes and if we are not able to transfer them to our bank account then also we will find traders who will accept them for cash in illegal way and we may need to compromise on price, but that would be fine.

royalfestus

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The first time i read about bitcoin was on a german site called Dw.de. It was wrongfully mention as a currency only on darknet, terrible misinformation. In such environment bitcoin can be restricted not banned. Probably because of some wrongful use. The new ways of blockchain use and bitcoin central tendency has been a corner stone for a number of them. Now as an avenue for investment, it has come to stay not banned.

Daniel91

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Nothing.
I will still use Bitcoin, as before.
I don't think that my local government have resources and time to check Internet activities of all citizens.
Of course, I will not be able any more to exchange my BTC funds to my local currency and cash out to my bank account or in some other, official way, but I will find the way.
They will not stop me to use Bitcoin, no way

Legasean

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Quote from: damiano on December 18, 2015, 12:17:33 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?

* However unlikely and practically impossible that scenario is I will answer anyway - Nothing would happen that doesn't now just a move from centralized to decentralized. Not sure what would happen to the forum especially the trading and exchange! Guess it would be closed.

* We may lose a few community members a long the way but it would not be a big deal because we probaby would have lost them anyway. The rest would get smarter.

* The solution would be to continue as is but taking better precautions than we already do. Bitcoiners are not stupid (well the majority aren't) Also there are decentralized exchanges with smart contracts in the alt world that can be used for btc as the main exchange.

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.

Off course would bitcoin be banned some times because allot of people are making money with something that is not trustable yet so i dont know what bitcoin brings allot of shit.

InsideBjorn

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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.

They could ban it but it would be a bad move because civilians would complain about the rights we have as human.
You cant just ban a currency because it's getting too big. They would need good reasons and then still they cant just ban it.

Noctis Connor

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Quote from: tampazeus on September 20, 2016, 08:33:16 AM

Gambling is banned in my country but I am still gambling using VPN services, same goes with bitcoin, even if it gets banned I will find the solution to use it and earn it, no big deal.

But the OP said what would happen if bitcoin was banned ? and you said gambling is banned in your country thats mainstream same here gambling isn't allowed on my country if police trade your ip that you are playing gambling you could face 2 years in jail i don't know why and if childrean still playing at the midle of the night they parents would be sent on jail for 24 hours

IF BITCOIN WAS BANNED on my country i probably still earn bitcoin . using VPN

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