Topic: What would happen if BTC was Banned? - page 76. (Read 65853 times)
If all the governments unite to do that they could make better things actually, I doubt a democratic country can pass something like banning an online currency, even the US (the place specialized in banning things) has taken a rather accepting approach to BTC and made regulations for it and sold the loot they got too.
So...all governments come together on the agreement to ban Bitcoin?
Bitcoin, the great world unifier. Obama holding hands with Putin and Assad singing in harmony.
Bitcoin, the great world unifier. Obama holding hands with Putin and Assad singing in harmony.
When you put it like that the idea kind of seems silly. lol
Interesting point. If you looked at online gambling as a benchmark, which banks were banned from sending money to in the USA, they're still everywhere and thriving, so I don't know if banning bitcoin would decrease it's availability either. It would be hard to enforce, like the ban on gaming is hard to enforce. They would have to shut down the interwebs and that wouldn't even be enough. The faucets and exchanges would just move offshore...easy, peazy, two for threezie!
More restrictions means more valuable.It was turning into favor of bitcoin as we all saw in the first years of its life.It was more attractive in my opinion in that case.
Yes that is true, but it will destroy the adoption of it, and it will put humanity back in dark ages. Which is the main value of bitcoin, forget the price.
Only tyrants and idiots would ban an amazing technology that can change the world for the better.
The Catholic Church used to burn people alive for creating technology, so we should not repeat this mistake again.
government in my country is still not accept bitcoin or legalize it. but I still continued to use.
More restrictions means more valuable.It was turning into favor of bitcoin as we all saw in the first years of its life.It was more attractive in my opinion in that case.
Anything or any action taken by any government was useless and could not stop evolution of modern digital money.Bitcoin just filled the space which was not covered by fiat money or traditional methods for example online gambling,transfer of funds with fast and low cost effective with freedom.
What would happen if BTC was Banned? I think this was sparking the price of bitcoin much more than it reached at around 1500+ $.Bitcoin already faced more than sufficient opposition and obstacle till the mid of this year and now it is back on track towards solid and bright future.
Well, being a long time online poker player, this is what I know: people will not stop using bitcoin even if it were banned. In the United States they tried to stop online poker but that didn't stop us. Yes, it stopped some of the bigger sites who profit off of regulation from accepting US players, but that just opened the doors for other sites to take up the US market. It didn't stop anything. That's what would happen with bitcoin too. It would just open more doors...period. Let them try!
It would shrink in size though. All the faucets, exchanges, and website would go to the dark web and it would shrink severely.
A ban on bitcoin would cripple it by 70-80%.
Interesting point. If you looked at online gambling as a benchmark, which banks were banned from sending money to in the USA, they're still everywhere and thriving, so I don't know if banning bitcoin would decrease it's availability either. It would be hard to enforce, like the ban on gaming is hard to enforce. They would have to shut down the interwebs and that wouldn't even be enough. The faucets and exchanges would just move offshore...easy, peazy, two for threezie!
So...all governments come together on the agreement to ban Bitcoin?
Bitcoin, the great world unifier. Obama holding hands with Putin and Assad singing in harmony.
Bitcoin, the great world unifier. Obama holding hands with Putin and Assad singing in harmony.
I don't think that will happen, to actually ban something is a very complicated process and in many countries with democratic system it would need to pass through multiple agencies, sure some closed countries did prevent using BTC but even that is not a serious concern now IMO.
Actually not, it's enough if the central bank or the department of economics of the govenrment bans it.
They do it with executive orders, they can pass anything that way.
Of course every ban needs an enforcement, and it will need probably a new LE department to monitor illegal bitcoin users, which would cost them a lot.
I don't think that will happen, to actually ban something is a very complicated process and in many countries with democratic system it would need to pass through multiple agencies, sure some closed countries did prevent using BTC but even that is not a serious concern now IMO.
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?
Nothing will happen, IMO.How do you think the community would react? What could be the possible solutions?
Trust me, we will still be using Bitcoin even though it is banned by the governments. The solution is to ignore the law and use it like Bitcoin is not illegal.
Just my 2 cents.
The real question isn't even how you ban it or what would happen but more WHAT WOULD YOU BAN?
You want to ban bitcoin? But what is bitcoin? Just exchange of rather neutral data... You can't create a law saying "ok buddies you no longer have the right to exchange data we believe is linked to bitcoin". Not possible in 99% countries cause not constitutional.
You can't ban bitcoin not because we would go to darkweb or because it would be complicated, just because you don't know what to ban. Tomorrow btc is said banned, BTC-E, Yobit, coinbase will start to sell BTC2, exact same thing, same code, just the name which is not the same.
You want to ban bitcoin? But what is bitcoin? Just exchange of rather neutral data... You can't create a law saying "ok buddies you no longer have the right to exchange data we believe is linked to bitcoin". Not possible in 99% countries cause not constitutional.
You can't ban bitcoin not because we would go to darkweb or because it would be complicated, just because you don't know what to ban. Tomorrow btc is said banned, BTC-E, Yobit, coinbase will start to sell BTC2, exact same thing, same code, just the name which is not the same.
If btc was banned maybe we still use this because still has a value and we use it as money online so even they banned this ecurrency
There is still has a value and we can still use to pay for services or buying stuffs...
There is still has a value and we can still use to pay for services or buying stuffs...
Well, being a long time online poker player, this is what I know: people will not stop using bitcoin even if it were banned. In the United States they tried to stop online poker but that didn't stop us. Yes, it stopped some of the bigger sites who profit off of regulation from accepting US players, but that just opened the doors for other sites to take up the US market. It didn't stop anything. That's what would happen with bitcoin too. It would just open more doors...period. Let them try!
It would shrink in size though. All the faucets, exchanges, and website would go to the dark web and it would shrink severely.
A ban on bitcoin would cripple it by 70-80%.
Well, being a long time online poker player, this is what I know: people will not stop using bitcoin even if it were banned. In the United States they tried to stop online poker but that didn't stop us. Yes, it stopped some of the bigger sites who profit off of regulation from accepting US players, but that just opened the doors for other sites to take up the US market. It didn't stop anything. That's what would happen with bitcoin too. It would just open more doors...period. Let them try!
The price of bitcoin will rise then 
i would continue to use, good luck track me if i can buy face to face and hold my fortune in bitcoin
many things are banned, but they are still used
Yes thats true just because government ban something,it doesn't become obsolete.I will continue to use Bitcoin because it is the most convinent way of money to me.To prevent any legal action,all I can do is never buy any physical good with it but I hope there would be ways to buy them even if every government ban bitcoin many things are banned, but they are still used
Surely if it was banned people would still be able to use it, if anything the price might rise in that sort of circumstance
its price would go down to nearly zero in my opinion
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