Bitcoin Forum

Just imagine what will happen if once the government will ban Bitcoin ?

https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/

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learn SEO and learn how to create valuable content instead. then the traffic will come on its own.

I think if it becomes illegal, it would be a big waste of money for those who are holding a big amount of bitcoins and already planning to convert. However, if holding bitcoins would be illegal, then there is no use of giving salary or a reward of bitcoin from the campaigns. But i hope that this wouldn't happen because bitcoins increase in any moment so they could earn higher than what they paid for.

what will happen if government will ban bitcoin? then it will grow more faster and increase it price. why? Bitcoin volatility is what businessman and investor attract to. next Supply and Demand when government ban bitcoin, bitcoiner will create its black market were investor will pay a higher fee to gain higher profit in return. Other say bitcoin is "ILLEGAL" you know people are afraid to what they dont understand and they will not accept it at first. This is the reality bitcoin will grow further and the years go by and government cant stop it.

In addition, the topic is quiet common and a lot of threads are made with the same topic but a little different with the chosen words. It would be nice if OP would think of a much unique and interesting topic then make a well-written article or critic.

I'm not interested in what to say to the government. I have my own opinion and I'll use bitcoins. In my country, the government requires payment of taxes, but large corporations and companies use offshore schemes for tax avoidance. The same thing will happen with bitcoins. Will store them in purses in Belize.

We might see some countries ban it and some will accept it, offshore locations would be an alternative. But if the money becomes illegal this is not easy but possible for sure, I never take this option hope it wont happen

Bitcoin will likely always have a legal 'box' to put it in but question is how much it can be used without a compliant framework/infrastructure.
Without regulation bitcoin will stay Wild West, with regulation it can go side to side with Mastercard and Paypal.

we do have to be ready for everything that happens in the future, so even if the government is going to alter the bitcoin later on. we must rack our brain, what's our next plan for bitcoin we can keep..

this is a big problem for those holding a big amount of bitcoins is the government ban the bitcoin in the country.. as you can see china already ban the ICO in their country. but i think this is not happen...

haha a stupid way to advertise your website.I don't think government has the tech to ban bitcoin.They can't because bitcoin is decentralized.All they can do is ban exchanges,then we will have decentralized exchanges too.If they were capable of doing it then they already have done it.They can't make bitcoin holding illegal as they can't be sure who holds how many coins.

I hate such questions "What will happen if..." There are only few countries where bitcoin illegal. And mostly countrys don't plan to ban btc. Last week there was some FUD from China, but bitcoin is legal there. Now lot of countries planning or already took actions to regulate bitcoins, that people would pay income taxes from their btc.
And even if some more governments will ban btc, it won't kill bitcoin. They can't control bitcoin and prevent people to use it.
P.S if you already advertising your website, make more serious article, because content of text is far from title.

What if spamming your links becomes illegal and the punishment is getting raped by donkeys?


http://fake-zoophilia-site.com/what-if-spamming-gets-us-more-content/

we can surely plan ahead of them right? well if not globally I think there is a way to simply access this site or your bitcoin wallet you can surely use VPN for it, but if the ban goes globally I think there would be a problem, but I think we can surely have a bitcoin enthusiast that are able to penetrate into the firewall of banning bitcoin, or have a rally that we want to really use bitcoin as a source of income, but I think this will not happen so soon enough.

Recently I read an article on Cointelegraph with the exact same points ;D

There has been a recent spike in articles and threads on this forum related to bitcoin ban, thanks to all the FUD. The last time a country banned bitcoin was in September 2014, nothing after that. At a time when a few countries have already legalized bitcoin and a few other are working on the legal framework to regulate bitcoin, I don't know why a rumor that the Chinese government banning bitcoin is being compared to all the governments banning bitcoin?

Nothing is stopping governments from banning bitcoin, but if a decentralized currency can be indirectly regulated then that is the better option than banning it and that's what some countries did and are planning to do.

Best comment ever!

This is unbelievable news. There is no official information about the prohibition of using bitcoin in a country. I think the state will not have the power to do this, bitcoin is a centralized and anonymous financial system. We are free to use bitcoin without any reason. Whatever happens I still keep in mind that bitcoin can be a powerful financial system and is well liked by many people.

How do they know if you're holding BTC? There's no government or organizations or somebody else know your wallet account unless you're gonna tell them. Even my girlfriend doesn't know my accounts. And why you should tell anybody about you income, assets and savings?

This is true, this topic is really very common and been asked a hundred times I guess. :) As being said above this is the simpliest way on advertising its own site but wont really be effective compared knowledgeable on SEO. Uniqueness of topic would really be a good step if you are really serious on making articles regarding cryptocurrency because if people would able to read up and theres interest then for sure traffic would really be there later on.

Why would they ban holding Bitcoin? What would it benefit to them? How will they know that you are holding Bitcoin? I'm sorry, I just don't know what's the sense to ban holding of Bitcoin. And for the fact that Bitcoin is decentralized and is an open source system, this would really be impossible. But if and only if, this thing will happen, I'm sure that the demand will be low since there'll be no one that will demand it to hold. I hope you get my point.

If it happened I am going to secure first that I can exchange all my bitcoin to our currency so I can still use my funds before its too late.
But I don't think so that it will happen or I say that there is a very small possibilities that this scenario will happen.

If such a scenario exists, surely it will cause as an negative impact over the growth of bitcoin as well other digital currencies. At present the growth is tremendous and China's market makes some fluctuations. When holding bitcoin becomes illegal, automatically some users try to cash out. The same will be used as an opportunity to buy at less price and this causes a downfall in price.

Then I'm sure 99% Bitcoin holders will change their Bitcoin into another altcoins, possibly anonymous coins. But in real case scenario, this type of scenario won't happen because as I'm posting this Bitcoin adoption is growing each day.
Japan has the largest volume in cryptocurrency right now, I'm sure Japanese government won't ban Bitcoin anytime in the future.

PS: Try not to generate traffic to your websites by advertising it in forums, learn how to make quality posts and people will come to you naturally (with SEO of course)

"What if breathing air becomes illegal"

Making Bitcoin illegal is complete waste of time if you ask me. Why would storing some special code somewhere be deemed illegal? Even ancient administrators wouldn't ask you not to store gold or other precious metals at home not to talk of the modern government. That will be clearly an abuse of power.

Well then bitcoin will die.  And what would be the reason for them to ban bitcoin?  They should have done it before it was launched way back 2009.  The maker or whoever organized, developed bitcoin knows the rules or laws that embodied this kind of product or services.  

This is very common, there is a lot of people jump about bitcoin. Everyone talks about it because the price is so high. It becomes dangerous when everyone diverts all of their money to invest in digital currency. There is great concern from various countries about the financial balance. and it's very reasonable. We are facing a new era and everyone will accept it in the future.

Well, that's the worst nightmare for all who still holding bitcoins. All of the btc invested and all of the btc still inside your wallets will become valueless all of a sudden. All of the effort, time, and sacrifice tha you do just to earn will not give some benefit in return, it's like you're in the highest peak of the mountain then you suddenly fall down to the bottom.

I think the only way to avoid thia misery is when you trade your btc into other cryptocurrency before the ban and withdraw all of it to cut the future losses. (I hope this won't happen)

Bitcoin holding will not become illegal because there is no law that is against bitcoin holding and there is no bad thing in holding bitcoin and to be honest, it is helping the bitcoin holders to earn money without working and that is a great way to have an asset by just buying and holding bitcoin for the future purposes.

It's already be illegal, in my country government ban or not allow us to invest or use bitcoin so we hold or trade or use bitcoin as illegally but I think it does not matter as long as there is no legal rule from the state that can get us into legal trouble just by investing or using or trading bitcoin.

If bitcoin becomes illegal then I think a lot would be notorious illegal businessman and women. Or there would be a syndicate operating down the low with bitcoin transactions. LOL!! Anyways I don't really think bitcoin will become illegal though if governments would take over and hold bitcoin then a lot of corruption will happen because there is money involved.

There is no way for bitcoins to be considered illegal and no one will be able to stop this cryptocurrency.  Each day more and more people are coming into this bitcoin community. As there is no central control for this technology bitcoins can be transferred easily to other altcoins and peer to peer transactions can be made online without having to worry about the government crypto ban.

Will it really happen? Possibly. Or maybe not. Well, there is a chance that some authorities may decide against Bitcoin eventually and rule that it is already illegal to possess any Bitcoin or any cryptocurrency...most probably regimes which have the same mindset like NoKor would do this. There are governments having their own agenda and these are the leaders who are control freaks meaning they always hate what they can not control and they are afraid that Bitcoin can be a way to empower the people and for them to one day break away from the shackles established by those in the helm.

In the short-term view, there can be chaos in the market if big countries (like China, USA, India, Russia, Japan) would one day decide to stop their people from participating in the Bitcoin market and community. As of now, the most likely a candidate to do is, of course, China but still we are hoping that eventually the country will realize that they will lose more if they will choose never to be a part of the Bitcoin bandwagon as there are many miners located in this country and the business of mining is bringing in many benefits like jobs and consumption.

little afraid if that happen, like the video when bitcoin raid, some traders in russia get arrested for trading bitcoin and the video said in rusia hold bitcoin is legal, but trading activity is illegal, and then traders get arrested like criminals

This has topic has been discussed many times on this forum, you can do a proper search to locate the related threads.

This is not going to happen because cryptocurrencies have crossed or passed all those levels and now its heading in a new direction. If it was in the beginning, then ok , it was easy to ban bitcoins and other altcoins. But now the scenario has changed, everyone started using bitcoins and bitcoin has become one of the legalized or standard payment methods whole over the world, even though its not officially legalized by any government.

Bitcoin isn't tied to whatever regulations the government forces through ~ no one in the world has the ability to prevent me from holding/trading/selling Bitcoin, and that's why I love Bitcoin's decentralized nature so much.

Ultimately, I am glad that not all countries are sitting on the same level, because if that would be the case, they could pool all their laws and regulations together against crypto in general, and that is another benefit.

The only negative aspect of a ban is that this market will need to operate on a closed and much smaller scale, but at the end of the day, people will still find ways to make use of Bitcoin. :)

There is no way that the government can trace out who is using bitcoin. Therefore, you do not need to worry about this. If bitcoin is illegal, the price will be much lower. However, I believe that more people will learn about bitcoin and they will realize about the fact that the gvernment can not know about those amount of bitcoin that you are holding and they will start buying bitcoin for themselves

Most countries had already imposed laws regarding the use of bitcoins. This is their way to stop money laundering, the use of bitcoin to help finance terrorist, tax shield and many more.

There are also countries which makes bitcoin illegal as a currency.

Here are some info why some countries made bitcoin illegal : https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

What if breathing becomes illegal?  ???

Yes bitcoin is useful but it only depends on the country on how they accept bitcoin if it is a legal or illegal currency because it is the only way to protect their citizen from the possible effect that may happen in their territory.

All the countries of the world will not prohibit bitcoin. If individual countries do this, bitcoin will flow into those of them where it will be allowed. In addition, the state can prokontoliruyut only settlements involving legal entities. Settlements between individual citizens and the storage of crypto currency the state can not control.

LOL.. Do you really think that the authorities are that stupid to allow the possession of altcoins, that too after banning the Bitcoin? If they are going to ban, then all the crypto-currencies including Ethereum, Bitcoin Cash, Ripple, Deeponion, Monero and Zcash will be banned. It is not like they are banning one crypto-currency and allowing the use of another.

I have seen threads like this before, and I think that you should have read more in bitcoin forum so we can avoid the repitition of topics. Anyway, if bitcoin will be banned then I have no choice but to stop using and earning bitcoins. As long as it's legal, I will continue using it because for me it is a good thing and a good source of income.

No,even if it becomes illegal and you have lots of bitcoins in your wallet,just sell it to any of your friend who is abroad and ask him to send money to your bank account.Just simple.No need to worry about.Even i also had thought of applying this plan if bitcoin gets illegal in india as i have friends abroad.But thanks to god,indian government has decided to legalize bitcoin.So,i don't have to worry any more about that.But,i think that no country here after would try to ban bitcoins as they know very well that bitcoin is unstoppable.

doubt thing that just storing bitcoin is an illegal act even the government itself does not know who is storing or using bitcoin now. but if true just storing bitcoin is an illegal act I'm sure the demand on bitcoin will decrease.

If the imposed penalty is slightly as we can absorb it then i will not stop investing on bitcoin because there are lot of ways in order not to be traced by the government like the use of VPN technology but if the penalty will be my life or imprisonment and it will treat my family to danger then i will stop all of my transactions in bitcoin and altcoins.

I do not care if ultimately the government will ban bitcoin, because until now Bitcoin has not been recognized by my government, nor is it good without government support, unless the government starts to close all access associated with Bitcoin, then I can not imagine it We should stop talking about it , stay focused on our work at Bitcoin.

Then nobody would say that they have Bitcoin, and people would use it anyway. That's the strength of a decentralized system.

Actually there are some countries which ban Bitcoin and treat it as illegal investments. The government cannot penalize those who uses it even though it is ban because as we all know, it is decentralized and government has no control over it. They have no means to trace who uses Bitcoin.

Then these governments will loss this oppurtunities to earn from bitcoin taxes and fees. They will continue to face the problem of countrys unemployment because bitcoin can help decrease the unemployment rate by peolple gaining an income while at home. But these countries that ban bitcoin is only at less than 1% of the nations in the whole world so i believe they will be convince to make bitcoin a legal in the future.

I agree with you. Though it is banned, government will find it  hard to trace each account. Also, people will find a way to circumvent with the rules and in bitcoin no one know have it unless you are very vocal with it. People are also shields to hide their IP's so its hard really to implement banning it.

Well, I thought this was just an academic question too.  But then looks like China is the first to go after Bitcoin... mainly by banning the exchanges.  According to the Wall Street Journal: "The Bank of China has led a draft of instructions that would ban Chinese exchanges from providing virtual-currency trading services."

It will be an apocalypse otherwise I find it very unlikely for this to happen. If you are talking about only BTC then all the money will be flown to altcoins and many altcoins will rise to this occasion.

I don't think that will happen because bitcoin is money and you cannot make money illegal that is just not acceptable. Also bitcoin is getting more popular everyday. So if they would do that almost

everyone is doing something illegal? makes no sense.

I don't think it will be new thing if it will happen because i know very well when the one of the state of the Russia banned the bitcoin and the price of the bitcoin get down to about 140$ down ( from 500$ to 360$ ) .
But at that time many people were in my contact and were selling Thier bitcoin for money in dollers at PayPal like platfroms .
So i don't think that there we will see any down in the price more than 10-20%  
And if it happen in the current time then i am sure that people will not get in fear because most of the people knows that how they can handle bitcoin easily in the offline Market .
Here if you will make research to mske buy sell bitcoin in offline then you will easily get places , so just forget about every negative thinking and use bitcoin blindly for the earnings as well as for saving purpose because your money is your and if you can access internet then you can access bitcoin , so why to take fear .

In some countries they already ban bitcoin and if you disobey that law you can go to jail the government is scared because they can't control it and because of anonimity of bitcoin it can be use to buy illegal goods without knowing your real identity, there are many reason why bitcoin is banned in other country.

People have full of doubt on the things that they really not sure about. And we can see that you are quite new in dealing with Bitcoin becasue if you are a veteran or have a history on dealing with crypto-currency specially bitcoin you would not consider dealing with what if questions. For me the best thing to consider is to support Bitcoin for you to experience the full depth of Bitcoin in terms of transactions, investments and trading.

First of all, holding bitcoin can never be illegal. Have you ever heard that holding Fiat is illegal. It is just not possible. Now if bitcoin itself become illegal, its scope will be limited to one or few countries and it wont be illegal in this world  :D 

why imagine? I think it already exists. and occurs in some countries. I think not all countries will ban bitcoin. as in my country there is no prohibition to engage with bitcoin.

I do not think this kind of thing will happen. Why? because the government and several local authorities in various countries have already established regulations and even legalized Bitcoin. But if you ask about ICO, maybe ICO does need to be supervised even in the tire for now because with the explosion of ICO makes some investors even local authorities difficulty in handling and supervising ICO. so... banning Bitcoin? it's impossible.

That's perhaps true, but authorities can go after the exchanges and outlaw them. That's essentially what's happening in China right now. So now you BTC, but no way to get more and no way to get it out into other currencies.  What good is holding a Fiat currency if it essentially has no exchange rate??

If holding bitcoin to be illegal, I will soon sell all my bitcoin and will no longer be in bitcoin world, although until now there is no definitive provision in my country about the legality of bitcoin.

Every country have there own government, and every government can make a decision for its people, and people are bind to every policies of there own government.

As a citizen, we couldn't stop whatever our own government's decisions.

as individual, we know our own rights, we know our privacy, we knows many ways to keep doing transaction with our bitcoin.

Well i personally find no good excuse or any advantage that might be there to make Bitcoin illegal. It's doing great and the advantages Bitcoin provides are just great!! Even if Bitcoin became illegal i might still consider using it. This is just my personal opinion.  :)

The possibility of bitcoin stamped as illegal is up to zero percent, and no country wants to shut business in cryptocurrency by watching its progress and by seeing possibilities of business in it , import export can be done by bitcoins which is the safest way. I don’t think so there is any harm in making bitcoins legal around the globe.

Well we have no choice. My strategies to make a sense all my hardship is converting the half of earned bitcoin to fiat and used in business to secure my future. The rest will save in bitcoin wallet to make a profit or if bitcoin become successful I have a lot of money in the future. I choose to earn using joining to signature campaigm instead of using my money as capital in investing or tradinh to avoid losing of my money. My earned bitcoin was used in trading to gt an extra income. I do this because I know that there is no permanent in this world. We are not sure on what will happen in bitcoin in the future so is will secure my future when bitcoin is not ban in my country.

Downloading copyrighted content from internet is also illegal. And like....people do it. Not me. God no. But anyway, ive read it in news

It will not happen, holding bitcoin can give profit to owner and also to the region he is investing from bitcoin will be accepted globally so there would be no chance to this that it would be illegal, we should trade and enjoy it. Bitcoins are already made legal by many countries so no need to consider them illegal.

I think t would be a problem for all of us because no one wants to be involved to something that will cause them to be on jail or worse, death. Bitcoin may die with that happening but I think it is impossible because it is widely accepted and becoming legal as of this moment.

in my country also does not prohibit the existence of bitcoin transactions, and also does not recognize as a means of payment is legitimate in other words still floating

Oh mu, if that happens, many people will suffer. Yes, they will suffer, because some of them works only in bitcoin online jobs. There are people who resigned on their regular job just to focus in bitcoin, sad to say that there are people like this. It will be a big lost to many, specially to those who have a big amount of bitcoin.

You sure you don't?  :D
Anyways you are correct, baning Bitcoin won't like affect it's users as there is no way to pin point each and every single person who is using bitcoin, besides there is no reason for any of the government's to declare bitcoin illegal.

His foremost need is to prepare our minds for such situations first so that when we face such sort of situation, our brains stay calm or else the thinking power will be jeopardized. Other than this, not all the countries are going to ban bitcoins or other crypto coins.

I think this is never gonna happen because of a lot of number of users of bitcoin from all over the world. Its users know that it is an unstoppable crypto currency which is the most secured and exponentially growing currency that has access from any part of the world. If ever this happens then who will be responsible for the people’s loss.

I thought that bitcoin is not or cannot handle by government.  I believe that handling bitcoin cannot be become illegal because a person who has a lot of bitcoin dont want to trash his/her money only so he/she have a right to fight for what he/she have.

If bitcoin becomes illegal then I will immediately convert my bitcoins into my local currency so I can still use my earned bitcoins. I will feel sad after doing it because it is my main source of income as a student and it helps me in my daily needs. But I hope it will not happen in the near future because I believe on what bitcoin can do to change lives.

Yes you're right, they're just doing advertising and it won't be a good start in making a stand for an issue when reality they're just taking advantage out of the reader. SEO is the best practice to do, I'm trying to learned been reading and studying about ranking my website that idea came from my cousin who does passive income on web traffic. I'm looking forward to be on top in search.

Because of having a large numbers of bitcoin holders and it's anonymous identity, government won't know who they are. But it come that bitcoin become legal, probably the authorities will then need real identity before making transactions. Of course they need it because the imposed tax and it is required both parties.  

yes it is possible that someday identity will be needed in bitcoin to anticipate the misuse of bitcoin from those who use bitcoin for criminal purposes such as drug transactions and funding for terrorists as well as money laundering results from corruptors

Of course the Bitcoin users will have to accept their loss, because before keep their money in Bitcoin, they have to know its risk, even they must ready the worst situation loss all their money in Bitcoin lol :). Nothing is safest, remember that!

The chances of bitcoin will be illegal is low, the government will use bitcoin and will control bitcoin the future. They can earn also from bitcoin, they just need to wait until bitcoin price will hit high rate and they come as if they care about it. We are in the world that the government controls everything that we do and bitcoin is for sure also be in the governments hands. As long as they ear they don't care about other people. They care about themselves and the economy. So surely they will not make bitcoin illegal because they can also make profit from it.

if i hide my bitcoin at paperwallet, and never publish it, never use bitcoin to pay something, and i never say anything about bitcoin, and no body know i have bitcoin, so from where goverment know i have bitcoin?
for me decentralization system can't be handle by any one, and goverment cant control it too, if 1 comunity or 1 person handle it, its not bitcoin again.

DECENTRALIZATION IS BITCOIN, AND BITCOIN IS DECENTRALIZATION

Bitcoin is an virtual currency and there is no need to give out a lot of personal information to open a wallet so basically someone can use or actually using bitcoin for other transactions (illegal transaction - drugs, purchasing items in black market, funding terrorist etc.) so there is a chance that Bitcoin will be illegal. But what I think of is bitcoin will be illegal only if all of the government around the world will interfere in this business however it will not happen because of a fact that a lot of jobless people uses bitcoin to earn.

if bitcoin holding become illegal. at first, you or we should anticipate that everything we do right now are in risk. investing in crypto are really risky in different phase of this state. If bitcoin will be come illegal, it will not. as of today there are many merchant accepting bitcoin and many physical store at the near future accepting it.

I've always wondered what the outcome of a situation like this would be. No one can check if a person owns bitcoin, right? How would the government enforce this? The best they could do is ban all online BTC exchanges and wallets.

First of all, it is very difficult to ban the possession of Bitcoin. Converting Bitcoin to fiat can be banned (with some difficulty), but it is not possible to ban the possession of Bitcoin. BTC is not a physical asset and it is near impossible to link any of the wallets to a particular individual.

currently there is not yet a hundred in my country still not recognized. I hope my country can recognize bitcoin.

If that happens i think that was too dumb and foolish. What is the reason for making Bitcoin illegal if it does not steal , scam or take on someone. Investing is not a crime. Also i think just make them learn about Bitcoin , Crypto currency and digital currency so that they will understand that there is nothing wrong in Bitcoin , crypto currency and digital currency. But if the government really treat the holding Bitcoin is illegal then there is really nothing you can do but to accept that they can not understand it.

It depends of punishment. Lets take marijuana for example. It is forbidden in many contries. But an insignificant human being may get full life sentence for keeping it at some places or just pay small fine at others. What if someone, who are doing crime by keeping Bitcoins, gets really high profit comare pathetic fine he is ready to pay. Just word "illegal" says no much to me. Self safety is the most important issue for an awerage human, so it leads him

No need to imagine, in my country I already feel.
Bitcoin in my country has been banned

Such a situation never prevails, if that happens users who already use bitcoin with a hesitant mind tend to switch completely to fiat or gold. People who have known about the goodness will go in search of an alternate way to keep hold of the bitcoins. I don't think such a restriction will come into effect in the near future.

I think bitcoin will not become illegal, government will take advantage for this and ammend taxes for ths kind of currency. On the other hand, there were also news about other countries that made laws to protect bitcoins. But if ever bitcoin becomes illegal, those who are investing a lot of their money in bitcoin will surely be on disadvantage.

I don't think this could possibly happen because there's no proof for government to declare bitcoin as an illegal stuff, this mainly reason why they want to have control over bitcoin because its legal and can be use by anyone which they cannot trace or even control. But if ever a certain government will declare bitcoin as illegal currency I'm sure people will not tolerate that and oppose to them. Bitcoin is world wide currency now and government cannot penetrate that.

I dont think it will happen because holding bitcoin is the same as hold gold because they are both investment. The price of each item has a chance to lose and to win because the price is unstable.

If bitcoin become legalized by our government they controlled bitcoin and alson bitcoin force to pay taxes to our government, many law apply to implement and that we don't have freedom in bitcoin. If ever that was happen bitcoin price gettings drop it become nonsense. But surely our government cannot penetrate to bitcoin.

This is last month thread as Rumors had came after china banned Bitcoin, but I don't think holding bitcoin is illegal since it is decentralized so no one knows and we can access it anywhere and spend the cash where it is accepted.

Does Govt knows you hold the Bitcoins or other Crypto currencies? is their any chance to raid your wallets?

Which country do you belong too and why did the country decide to ban, what specific reasons led them decide the banning of such currency. Have you stopped it or you still continue dealing in them despite the banned imposed by your country?

it will not far away that bitcoin will become legalize in many countries because bitcoin is famous with a very high speed and the rate of bitcoin is also increasing with quick speed and those people who are holding bitcoin and when the bitcoin become legalize in their country then they will get enough profit and they will then no need to convert to their country currency and use wherever they want.

If it happens to be bad, the prypto market will dump quickly and we will die.  :'( :'( :'( :'(

Yes that is right. i think some countries have already accepted bitcoin as legal currency. japan is the best example with us. Still some other countries are also now planning to turn bitcoin as legal currency. I do not think that any country yet delar bitcoin as illegal, because not a sing country has yet officially banned bitcoin. i am sure that in future bitcoin will be consider as legal currency throughout the world. Not a single country will be there who wil will continue to bane bitcoin.

I think there will not be a big effect.
Because even if government will do this they will not have a great mechanism in order to track those who possess bitcoins. Therefore finding those people will really be hard for government not unless they will be able to create a way how to conduct search more effectively.

This kind of threads create panics and draws out negativity to ones mind. Why not we should al be positive about bicoin? For Democratic countries, government can't ban bitcoin because Democratic means freedom. Mostly the Communist country are the one doing it. So cm as long Democratic countries allows bitcoin, bitcoin will surely survive.

Bitcoin in the first place isn't illegal and secondly is a decentralized framework therefore holding bitcoin isn't illegal and therefore anyone holding bitcoin is actually not having any connectivity whatsoever as to making a fact that it is yours.

This topic has been talked about and discussed many times and I don't see why there is a reason to bring this up again. Bitcoin is decentralized meaning no one can control it and I do believe that the same goes with its users and they can use bitcoin freely and anomymously.

States will no longer prohibit crypto currency. This can happen in some individual countries with an authoritarian regime where the economy is managed in a manual mode and where the rulers will be afraid that if you allow the circulation of the crypto currency, the money supply will flow out of the country in the form of a crypto currency and this process will be uncontrollable. In other countries, the currency will be subject to regulation for the purpose of levying income tax.

Many threads discuss the same issue, I think people are fearfull because of the social media that spread fud to achieve some personal interests, Bitcoin does not seem to be easy to ban asset.

You do have a question but you lack knowledge about bitcoin, it is decentralized. Nobody knows who owns bitcoin. If bitcoin will be implemented as illegal by the government then they will trace who is the owner of bitcoin. Even satoshi nakamoto's identity is anonymous so how could it become illegal? Holding bitcoin is not illegal using bitcoin for black market trading is the illegal.

If holding btc become illegal it will be a great loss for the once who had huge amount of btc as their investment.for everything there is a solution in case a ban is coming up there will be warning given up by the government before making it practical and i am not worried even if my country ban bitcoins because there are lot of other ways to cash out btc as there are lot of countries left out without ban so one can simply transfer btc to cash from another country by opening a bank account from another country by opening bank account from other country without ban and transfer fund to that account so that you can cash out btc if it become illegal in my country as i don't wish to loose out my btc and end up loosing on all my investments so am not worried about btc being illegal in my country because there is alternative solution for every issue which comes up.Moreover my government won't come to know that i hold bitcoins as it is a decentralized platform and does not need any kind of personal information.i feel like such kind of threads are useless they post as they might not have an idea . so far nobody has idea about the creator of btc then how is government going to find who hold btc.all great works done by someone with the user name sathoshi hats off to him ...:D

A lot of people are going to dump their coins if that happens (if they are allowed to do so), but I don't think that the currency will die. Even if 99% of the holders dump their coins, the remaining 1% will stay loyal to Bitcoin. And there will always be a 0.01%, who will use the low prices to accumulate more coins in their wallets. And there will be avenues to spend Bitcoins, such as dark markets.

I think this question should be rephrased: what if governments declare all cryptocurrencies illegal?

Because it would make no sense to ban just one, be it btc or another, people would just switch to a different crypto and the govt would not achieve much considering their care is not for people losing their money or homes due to mindless all-in trading, but their only care being to keep collecting taxes so that our chosen few may live lives of luxury off our hard earned money, and the real leaders of this world and owners of most assets on the planet, banks, will maintain control over all money supply and currency transfers.

So...what will happen if orning or buying or selling crypto becomes illegal? Like, jail time illegal. As in, every possible buyer or seller could be an undercover agent working for whatever govt agency will enforce the ban.

Well, investors would be tearing up right now. A lot of them have invested millions and millions of dollars on crypto just so the government could ban bitcoins because of how much it wrecking the economic system. But then we'll move on since we could live with or without cryptocurrency anyway.

Holding cryptocurrencies which is one of the most common activities in the world of cryptocurrencies most especially bitcoin is the one that helps bitcoin's growth and development. It should not be banned. However, if ever this magically happened, Bitcoin sure would face serious damages on its value and might even suffer its downfall.

If holding bitcoins become illegal, I think no one will go to jail because of it, how can the government trace the owner of each and every bitcoin addresses? It's also very easy to use vpn's and use other countrys' server to bypass the internet. Bitcoin has always been decentralized and anonymous so I think making bitcoin illegal is pointless.

WHAT if man went to the moon ......o wait they did do that.....All countries  know the whale of financial benefits that bitcoins can generate , they are only pretending and doing drills into fooling people that they are actually thinking about this , this is just to send a clear message that look the only way we are gonna allow this to continue is if we are cut into the operation , we need to be in charge of regulations so we are not short changed and then we collect our salaries sorry taxes whatever we wanna term it . They all understand that making anything illegal only creates black market situations and then they would have a real issue to deal with so in the end common sense will prevail, governments are just playing there part to ensure market conditions are created to lower prices so new buyers can enter and then they will step back and allow prices to soar to new heights with there about turn and  compromises.

Very unlikely to happen now. One reason why we'll recovered from the dip a little was because of the senate hearing with sec that pretty much got positive feedbacks at the least. That means governments like the us consider the innovation that cryptos and blockchain bring to the table.

If it may, some investors would probably lose their faith in bitcoin, regardless on it stability, and its influence in the new name in banking, i dont think bitcoin becoming illegal is possible.

it's illegal in my country

It is a really incredible news that prohibition of Bitcoin. There is no clear document on sanctions. We notice that in some countries it is accepting and some countries are boycotting. But it is difficult to confirm if money becomes illegal but there is a possibility. I do not ever hope that it will happen. But we must be ready anyway whatever happens.

You are right, banning of cryptocurrency only means that it is the end of cryptocurrency but as long as there are countries who are allowing people to invest on bitcoins then there is no way for crytpocurrency to die so hope for your government to legalize bitcoins.

If on all prohibitions there was such response... But usually the prohibition leads to creation of the black market and price increase and demand.

i think Gov wouldn't check people 1 by 1 especially with anonimity from bitcoin. even the access to use it get blocked. people will find way to access it even illegally. because internet is everyone's freedom

If its happens the bitcoin holders will lost a big profit and investment ofcourse everyone felt disgusting and hopeless by then. But for sure bitcoin couldn't be illegal for many reasons, such as governments cannot track every person who using it itc. Bitcoin is decentralized digital currency and anonymous so making this illegal is worthless.

how goverment know i have bitcoin at my wallet? im i holding my bitcoin at paperwallet, never published my address, and i never say something about bitcoin, so my family dont know too i have bitcoin, even bitcoin illegal at my country, im still holding it for future refference.

I don't think it will be illegal after the G20 discussion  :-\
Today the market is very green, I love that and hope btc at least reaches the price $100K this year  :P

First of all, your question is little bit deviated from the topic because owning a bitcoin and holding it is different and if holding a bitcoin is illegal then the meaning of investment will be changed because if you are investing into something and u are not allowed to wait till your profit then there is no use of investing into it and investing into BTC is very profitable, so according to me it can never be illegal and will always be allowed.