Topic: What would happen if BTC was Banned? - page 72. (Read 65853 times)
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.
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.
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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.
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.
If btc was banned, i will find a way to cash out the bitcoin, because they cant banned the btc user because its anonymous, the government only can banned the exchanger and all of the store, and maybe i will find another crypto currency to invest
yeah agree. A lot of altcoin today if only BTC was banned I think altcoin is a way out, government never banned exchanger if not deceptive or ripped off member money.
If btc was banned, i will find a way to cash out the bitcoin, because they cant banned the btc user because its anonymous, the government only can banned the exchanger and all of the store, and maybe i will find another crypto currency to invest
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 do not care if BTC is banned. I still use the BTC able to earn money. Because many of the users of BTC even banned them btcHow do you think the community would react? What could be the possible solutions?
Yeah if it is banned then I think people will be having a fear of using it and that may lead to discontinue in using bitcoins, but there would be people who will keep on using it even if its banned.
Agree the bitcoin population will decrease a lot but there are also users of bitcoin but they are not saying it in public because it is illegal so the is really bad news to bitcoin. I dont know what will happen to bitcoin i think it will die.
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 do not care if BTC is banned. I still use the BTC able to earn money. Because many of the users of BTC even banned them btcHow do you think the community would react? What could be the possible solutions?
Yeah if it is banned then I think people will be having a fear of using it and that may lead to discontinue in using bitcoins, but there would be people who will keep on using it even if its banned.
Well if the governments banned bitcoin It won't have much effect on its price as it is circulated online and anything online is hard to track even the FBI and CIA can't solve it. Also the abundance of wallets available will make easy transfer of Bitcoin from wallet to wallet. Just like torrent sites use proxies and new sites to stay alive they won't be shut down for good.
If BTC gets banned, those people who likes to look cool by doing or using illegal stuffs would start to use Bitcoin. For the sole purpose of making themselves look cool by using a banned currency, they'll put their name at risk. However, present Bitcoin owners would surely just mask their identities. There are tons of illegal things out there and people who are doing it aren't going to jail unless they get caught in the act. Same goes to Bitcoin.
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 do not care if BTC is banned. I still use the BTC able to earn money. Because many of the users of BTC even banned them btcHow do you think the community would react? What could be the possible solutions?
If bitcoin was banned, i'm sure it will affect the price of bitcoin, it might be decrease and it will affect me too. Because my main job is about bitcoin and it can decrease my salary because of it.
first it is not so easy to banned bitcoin permanently and secondly if it become banned then people will find other method of using it, but those people who know about the impostance of bitcoin cannot stop using it,
I think firstly it would interest the public more as people would want to know why it was banned. The hash rate would definitely suffer since public mining farms would shut down, but many farms are actually in private places for security
I think a large amount of people would continue to use Bitcoin since Bitcoin users mostly seem to be very technically knowledgeable and would get around it with VPNs and etc.
I think a large amount of people would continue to use Bitcoin since Bitcoin users mostly seem to be very technically knowledgeable and would get around it with VPNs and etc.
If btc will be banned.
Then the price value will go down .
But i don't care if btc will be banned i will still continue to use btc as long as i earn then nothing to worry about in my opinion.
Then the price value will go down .
But i don't care if btc will be banned i will still continue to use btc as long as i earn then nothing to worry about in my opinion.
There really isn't anyway to 'turn off' or 'ban' BTC so there isn't much to worry about.
Governments can make it illegal, I know it sounds stupid, but they can do it, Just like Russia tried to do.
So they can do it, although i don't think it will happen worldwide.
They might, but they can't stop you turning on your computer and accessing the internet. If they do, use a proxy; if they ban that, use a VPN. There are ways. Miners will continue to maintain the ledger. Bitcoin is permanent, and will never be removed; that is why those who it threatens are so petrified by it, and why it receives no media airtime.
Banning BTC reminds people that it exists, and so is counterintuitive for those very elites
There really isn't anyway to 'turn off' or 'ban' BTC so there isn't much to worry about.
Governments can make it illegal, I know it sounds stupid, but they can do it, Just like Russia tried to do.
So they can do it, although i don't think it will happen worldwide.
There are many things that are regulated by law....marijuana has been banned but people still partake....So, I imagine that if bitcoin were banned, then it would continue to be used; furthermore, it's exchange rate would increase much like the effect of marijuana's price is propped by regulations!
There really isn't anyway to 'turn off' or 'ban' BTC so there isn't much to worry about.
If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it.
Why do you think like that? What is the proof that Bitcoiners will go crazy if it gets banned?
It was never meant to be used by everyone, we need basic audience and we are good to go.
If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it.
Why do you think like that? What is the proof that Bitcoiners will go crazy if it gets banned?
It was never meant to be used by everyone, we need basic audience and we are good to go.
If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it.
it's not happened because there are many bitcoins to save the BTC so that it be banned. even though I'm not sail that banned the BTC Jump to: