Bitcoin Forum

As we arrive 2018 analysts say this is likely the year the bitcoin bubble will burst, reason being that if it continues to push up the ceilling above the 20k dollar mark governments might impose strict controls or even outright ban in order to protect government issued fiat currencies. My question to us all is: How would an eventual ban on bitcoin effect Altcoins and the global crypto market? Please be constructive in your views.BTC

If they ban bitcoin they will have to ban all altcoins, they can't ban one and leave all other altcoins because it won't do much, people will easily switch to other crypto's. IMO you have too many ifs here.
Strict control? Just pay tax when cashing out and you will be fine.

Countries like China and Korea and all worry about the ICO scam bro they do not have any problem with the bitcoin that is the actual truth. This kind of huge value fund on bitcoin no one will let the BTC to go down or leave completely from the marketplace.
They will stop some icos and may gonna ban all the decentralized platform cryptos. Stupid investors like who is making investment on ripple only the black sheep in the top list Cryptos. Please don't invest on it.

I don’t think the government will ban Bitcoin. Most likely, the government will regulate crypto instead.

To answer your questions, if the governments ban Bitcoin and other altcoins, we will most likely see a dip in price.

If the btc bubble burst, it will affect ALL alt coins. Possible causing the entire crypto world to be in the red.

It will be like the titanic, everything will go below if btc will burst or gets banned

If something happens with Bitcoin, the whole market will go down.

If bitcoin bursts, then this wont be good for any coin at all. They would all loose a lot and would probably stagnate for a long time before people will trust crypto again, if ever.

Your mistake is:

1) Thinking the "analysts" you are paying to matter.
2) Thinking that bitcoin is the real bubble, when it's the exact opposite: Fiat is the real bubble, and this includes altcoins. So when the altcoins bubble bursts, Bitcoin will benefit and will go even higher. We haven't seen anything yet when it comes to how high Bitcoin will go. 2018 will be the lightning network year, 2019 and then 2020 will be the mass adoption years. Steam will be back to accepting payments with LN, then Amazon et al.

First of all i don't think BTC is in a bubble yet..and if we talk in terms of bubble we should extend it to the whole Crypto Market...
It's a mistake to separate the two things...because money are flowing not only in BTC but in all of the most alts at the moment.
If we ever face a bubble scenario in Crypto and if the bubble burst then the whole market will lose something like 70-80% of its value..
but i think that in a few months the best coins with a solid and working project behind will come back to their original value at the peak of the bubble.

There will likely be increasing government intervention and regulation for cryptos as we go on and market cap increases, but this will not harm the crypto market.

A government might issue an outright ban on bitcoin, but it will survive because it transcends national boundaries. Look back in time, and we used to have businesses confined to one nation, and subject to that nation's government - this time has long since gone, and we now have multinationals that can pick and choose which jurisdictions they operate in, with governments often fighting one another to offer the lowest regulation in order to draw business in. But we still have national currencies. The best real attempt at an international currency, the Euro, has been beset by difficulties. The need for a true, borderless worldwide currency is long overdue... and this is why crypto will survive and prosper, whatever individual governments throw at it.

And looking beyond bitcoin, what about coins such as XRP? Ripple have been working with banks and regulators for years - very difficult to see XRP getting banned. Similar for smart contract platforms; any nation that bans them will rapidly get left behind.

Seems it started in the U.S thats really alarming especially to the bag holders there,they will face problems in liquidation of their cryptocurrency assets,surely the government will be more strict to such assets however people are smart im sure they will find a way to adjust to their environment.

i wouldnt say bitcoin bubble i would say the bitcoin hype will burst,

i dont think altcoins will suffer from, it,

cryptoeconomics will continue,

next issue will be the way we evaluate everything in US dollar, this bubble will soon burst next after bitcoin


the last idiots that invested however into bitcoin might get serious troubles when all try to ell at once will will witness this, mark my words

I think that BTC is really going to die if there won't be any changes of block size. But it doesn't matter that the whole cryptomarket is going to die. Many alts are growing so investors will be glad to invest their BTC into alts and get a good ROI in opposite of taking profit/loss and go back to $.

Initially, all or mostly all Altcoins will follow and drop in value. I think if the cause for the drop involves regulation on bitcoin, hodlers of bitcoin will start selling and possibly start buying into alts with 'stealth/privacy' features, causing* those specific coin/token values to rise again.

What I find interesting is the idea of banning all 'cryptocurrencies'.  I do not think that would not work. Many businesses have adopted the gen1 and gen2 cyptocurrencies into their business plan and product/services lines.  See Deloitte, American express, Monster Technologies, IBM stellar, and the list can go on. If you know of others, send me a PM and educate me please  ;D

Regulation is the most probable in my opinion.

Great responses here. Bitcoin is already a colossus and cannot be overlooked in the monetary world. I equally think it will be difficult for any government to ban bitcoin outrightly as it will come with great economic costs. But the rocketing price of bitcoin should bring worries to any responsible institution or government because it defeats the primary purpose of bitcoin as  an alternative means of exchange and making it the preferred investment option for many. Just holding bitcoins today could be more profiting than any HYIP. With bitcoin substantial wealth could be made over very minimal time just bearing the risk factor alone, and I think this somehow undermines entrepreneurship for tangible brick and mortar investments. So I think  bitcoin is not the issue, but the rocketing value of bitcoin is what could make goverments consider banning it.

The real test for bitcoin will be if it survives price-wise after governments ban it. Sooner later they will ban it, I have had that clear since day 1. When it gets too big, they will ban it all over the world. There's also the problem of if you try to sell them, they may automatically think you are a criminal even if you did nothing wrong and only got paid some BTC in a signature campaign or something. This is why im scared to sell it and just hold it.

We saw that with China banning exchanges it actually pumped higher after the dump, so who knows, maybe banning BTC is always a good idea to buy the dip as it will go higher later.

They are feeling worry if the potential investors will be investing in the scam icos, but not sure about that it seems like majority of countries are considering the icos just like a scam way to grab the money.
As you can see how majority of countries give the same reaction for that.

Considering the view above, it there means the survival of bitcoin in the event of any government ban will depend on an informal bitcoin community, right?

The altcoins will have a smaller value and if the bitcoin is stable it will get higher, that is the cycle in this industry, and that's what my friend which is rank hero told me

It seems to me most likely the devastation of bitcoins will be taken with all the other altcoins, since without it, it no longer has the same strength. But, there is a moment and doubt that something new will be created that will surprise us in the future!

If you call bitcoin as a bubble, you start with a huge mistake before asking your question. If bitcoin somehow dies, the rest of the coins should die as well. At least they would make crazy dumps and decline as a result.

If bitcoin - the bubble bursts, it will mean that the demand for it will fall for some reason and it will drop significantly in price, up to several hundred dollars. Such a variant of events can not be unequivocally excluded. I think it will not have much negative impact on the altcoyne. Most of them are created as a result of ICO for functioning in a certain sphere of human activity and it is the utility in this sphere that determines its value. Therefore, a sharp drop in the rate of bitcoin strongly on the image of altcoyins will not be affected. Perhaps a part of people at first will be wary of investing in the crypto currency in general, but the other part, instead of investing in bitcoin, will invest their money in proven altcoyins. From this altkoins will only benefit.

Right after bitcoin bubble burst nearly %70-80 of altcoins will start dropping in price. All other people telling against are too optimistic. Altcoins are deeply connected to bitcoin.

If bitcoin gets banned, I think all altcoins will be red, as most altcoins are pegged to btc. And if it is a bubble and it does burst, then all altcoins will definitely crash since bitcoin is considered the basis of crypto.

Bitcoin is not a bubble first of all. There is a great technology behind bitcoin. The government has no rights to suppress a new technology with use. Don't worry about bans and all. This market has established and there is no bans but there will be regulations like taxes and all as government would make it legal tender.

So altcoin will follow, and then the bubble bursts, the price drops rapidly, but before the bear market comes, it's still going to be crazy.

Based on the trend in the market. That when bitcoin moves all the altcoins follow, I guess it is safe to say that altcoins will be badly affected it the so called bitcoin bubble burst.

When btc bursts all alts will go down together with the king,if the btc goes sideways alts always grows.

A ban is not what is threatening bitcoin.  Its clunkiness is.  Its ridiculous block sizes, electricity consumption and fees are.  Bitcoin represented > 80% of crypto in the beginning of 2017, and had always been at that level or higher.  Look at it now: less than 35% of the market (if we include the 20%-25% of dead coins), because of the silly block size limitation.

The real question is: what will happen to crypto when bitcoin loses its nr 1 position for good, like it lost its monopoly in 2017 because of clunkiness.

There are two answers if this happens:

1) bitcoin will slowly sink away like any old tech, taken over by better, and alt coins will prevail.
2) given that "eternal bitcoin" only lasted for 9 years or so, this pulls the floor under any other eternal crypto belief system, and crypto inflation kills the very idea of crypto scarcity.

So bitcoin losing no 1 position could be the liberating boom for crypto, or it could be the realisation that all this is just hot air, as just any dude can launch a new coin and dilute the crypto market with its inflation.

Of course, one can say that bitcoin will never lose its no 1 position.  Now let us think about that.  Real chain transactions seem to be limited forever to 1 MB blocks (optimized with segwit but very limited nevertheless).  Yes, the LN can be a banking layer on top of bitcoin, where the banks (the LN nodes) hold full bitcoin reserve.  Now, let us suppose that crypto increases still 10 or 20-fold in market cap in the coming years.  If bitcoin needs to stay no 1, it will most probably need to increase also 10-fold in market cap.  That means that mining costs and electricity consumption need to increase also 10-fold.  Is that still reasonable ?  Is bitcoin all by itself, going to consume as much electricity as Germany ?  If bitcoin reaches these values 12 years from now, there's less of a problem, because of the diminishing block reward.  But in the coming years, power consumption needs to remain proportional with block reward value.

This is why bitcoin cannot remain no 1 if crypto market cap is still going to rise a lot, and if bitcoin remains a PoW coin, which it most certainly will remain, if it cannot even change its block size.  And if it changes to PoS (which PoS), this will almost for sure be a contested hard fork, because all those people who invested in mining equipment will want to keep the PoW coin alive.

But if bitcoin goes down the drain, the whole belief system in crypto might go down the drain too.  Because what eternal belief can still be held up ?

Currently we can feel a presure from governments on crypto world . China government create a pressure on bitcoin miners because of high electric power consuption , but I dont believe this is a true reason . What will happen if bitcoin fall ? I think we can expect a crypto stagnation , which would affect all altcoins

if there is a prohibition on accessing bitcoin on the internet then people who invest in bitcoin and altcoin will lose a lot, chances are there will be rebel society to the government in the country. but if the government only prohibits using bitcoin or altcoin as a means of payment then it does not matter because it can be bitcoin and altcoin can be converted into paper currency.

In fact, in 2018, you will see this kind of scenario, the BTC madness rises, so actcoin will undoubtedly follow up, and then the bear market will come.

I don't think China government will have any further impact on bitcoin.
Bitcoin will stay here for long, and get stronger.

this will make a history if this happen, every alts are depending on bitcoin in the market price, if bitcoin will be gone then this is the time where ETH will rise too bad for the bitcoin holders and this is not good for all crypto community.