Bitcoin Forum

Well, I'm just curious, does banning bitcoin means that all cryptocurrency will be banned from that country?

of course, the government of that country that ban bitcoin means they banned a something called cryptocurrencies like bitcoin and its fork or else which is related with it.
so what is the purpose of banning bitcoin meanwhile the alts still allowed ? i mean, every alts always related with bitcoin.

Yes the country bans all cryptocurrencies.

Very likely. Though it's more likely for them to go after alts first before banning bitcoins. China for example has placed restrictions on ICOs first. There was no outright bitcoin ban but that'll possibly come later once they've done creating their own digital fiat.

No, most countries just Banned Bitcoin not with Altcoin, if they banned cryptocurrency then all altcoin was banned  :D

I think most countries' laws will address crypto as a whole rather than bitcoin specifically... so the answer is probably yes.

Definetly yes, that true if bitcoins is banned in one country  altcoins is also affected,and all things that talking about digital currency is probihited if banned implemented to that country,even those small crypto like faucet games would not be  allowed,because if government implemented a law,there so many article,that they consider that not allowed.I hope that this things should not happen into my country,because many of us will affected and cryptocurrency is part of our life and everyday gestures.

Technically no because you would have to say something that declares a ban on altcoins but in the spirit of the rule and in good faith if the country or state banned Bitcoin I am pretty sure they meant altcoins too unfortunately.

Most likely, once that bitcoin got banned by a country, then all the cryptocurrency and altcoins will surely next to it. Why? Bitcoin is the number one of the cryptocurrencies. Banning the first will also banned the others. It is like a domino effect that will affect all of them. We can also see the connection of cryptocurrencies and altcoins through its price. Once that bitcoin goes down, other will go down as well. Banning bitcoin is like banning any transactions without the process of bank and that is the function of other cryptocurrencies as well.

A ban will not be only applicable to bitcoin, they will tell it in general that cryptocurrency trading, sales or holding will be banned in their jurisdiction. If bitcoin is banned it's understood that it goes with altcoins too.
Technically yes, I haven't read any news that only banned bitcoin but they banned "cryptocurrencies".

As far as I know when China decided to banned bitcoin the rest of all alts are banned because it is the crypto currencies that they are prohibiting for exchanges rather than bitcoin alone. Bitcoin carry out the rest of all coins it was just that bitcoin is more popular and trusted these days.

When most of us say bitcoin, well it is meant for cryptocurrency in general. But we use term bitcoin simply because many people are more familliar with term and because its the number one. Its like when you say USD or EURO instead of calling these currencies - "fiat currency".


ICOs are whole another topic than just being simple altcoin. Problem is that you are raising money globally without 3rd party in between and because of pseudo anon nature of ether. btc... we see few scams here and there. On the other hand they can not do anything to protect their investors if ICO startup fails to fulfill it's promises or they simply might be looking from the distance at current situation and are trying to evaluate thing better.

It would imply that all the other kinds of cryptos would be banned at the same time as Bitcoin since there would be nothing to really trade a majority of the altcoins with, aside from a select few like XRP, ETH and BCH depending on what exchange you're using. But to keep it simple and short there is a good chance that a majority of the altcoins would be banned unless explicitly stated that they aren't, and banning Bitcoin would just be used as a catch-all term for banning all cryptos. Not too hard to understand but it can be a bit confusing if you're not familiar with how governments work and what they propagate on media outlets.

Yes.
Quotes from the Wikipedia article Legality of Bitcoin by country or territory.

Ecuador - "The Ecuadorian government has issued a ban on bitcoin and other digital currencies."

Algeria - "The purchase, sale, use, and holding of so-called virtual currency is prohibited."

Bolivia - "The Central Bank of Bolivia issued a resolution banning bitcoin and any other currency not regulated by a country or economic zone"

Kyrgyzstan - "the National Bank of the Kyrgyz Republic made clear that "the use of 'virtual currency', bitcoins, in particular..."

Bangladesh - "Bangladesh Bank said that "anybody caught using the virtual currency could be jailed..."

Nepal - "Nepal Rastra Bank declared bitcoin as illegal."


It appears Nepal is the exception here, although in the reference it says "As Bitcoin isn’t attached to a state or government and doesn’t have a central issuing authority or regulatory body...", so i'd be surprised if alts didn't get the same treatment.

Bitcoin is a cryptocurrency - it's just most known and usable. If you buy this one, then there is no logic to make ethereum, litecoin and etc legit one, banning of one coin and especially bitcoin means banning of whole crypto currencies. Otherwise it will be very strange, if you ban btc, why won't you ban monero too?
People just usually use word bitcoin when they talk about crypto.

I think, the others will follow because its function is not much different from bitcoin

in economy if there is not gold (the reserve for any currency) the government can`t print money so it is same with crypto world btc being the reserve of any other coin and if it gets banned there wouldn`t be any alts left as well.

Yes. If a government announces that Bitcoin has been banned, it means that all the other altcoins are also banned.

I dont think any country is going to outright ban Bitcoin in the foreseeable future. And if they do, it will probably be a ban on all cryptocurrencies, not just BTC (and the country will probably release its own coin and force it down the people throat)

Yes, it's automatic, if bitcoin is banned then altcoin will be the same thing. Bitcoin and altcoin are cryptocurrency. You are right, some people call bitcoin when discussing cryptocurrency, that's generalization.

Yes, definitely all cryptos will be banned. Bitcoin will represents the whole cryptocurrencies because it the popular coin. Most common people they know only bitcoin. Banning bitcoin will defitely banned all altcoins. No exemption.

Definitely, it's like the total prohibition of anything cryptocurrency related. A national extermination
and interdiction of the whole digital money concept. Closing all possibilities that might relate or
reach out with this financial innovation. I believe nations opposing to bitcoin hasn't truly grasp the
positive potential cryptocurrency can offer, it's gonna take some time to convince some of them.
But inevitably they will be utilized, circulated and probably regulated at some point in the future.

I think so. Bitcoin is the cryptocurrency.
Altcoins is also a cryptocurrency.
If bitcoin is banned.
So all altcoins are prohibited from gailv.

It depends on how the law or official statement is worded.
When it contains only the word bitcoin, then only bitcoin is banned.
But I assume that will rather not be the case because it would not make much sense for a government to only bann bitcoin and not the alts as well.
The formulation will be held in a way that it includes all privately founded crypto currencies.

Probably yes. All cryptocurrencies are related. So if legal regulations are introduced, all currencies will apply.

If bitcoin is banned in some countries, co-altcoin is also prohibited in that country. Altcoin is a common name for cryptocurrency other than Bitcoin. Altcoin was born after the success of Bitcoin in 2009. In short, Altcoin is an alternative to Bitcoin as it improves and addresses the bugs in Bitcoin's protocol. This is the currency created for the purpose of replacing Bitcoin.

Yes i think its true. Bitcoin is related with altcoin as cryptocurrency.
Ban bitcoin, altcoin will go together with that.
I hope no more country misunderstand about this and no more country ban bitcoin because bitcoin is very important in financial technology.

I believe it's a yes!
If one goes down, then similar others will follow. After all, they have the same specs just different values and names.
Let's just hope for the best though

It is very regrettable to tell you that, yes, if a country forbids bitcoin, it means that this country can not accept digitally encrypted currency, bitcoin-related or similar coins will be banned, which is not spared, I hope not there is such a thing happening.

Of course all other cryptos will be banned follow by bitcoin. Special attention will be looked to the anonymous crypto like monero.
But this is not exit, peoples find other ways to stealth traffic and continue use the crypto, somebody change country for live

Bitcoin and Altcoins they are the same cryptocurrency, If Bitcoin will be banned in a certain country, definitely altcoins will be banned too. The reason why any government banning Cryptocurrency is because of being decentralized of these aprticular currency. by that, they has no power to control it. to be able to Regulate Bitcoin, they has to banned Bitcoin in their country, and issuing a regulatory law. Government is well known as a regulator for what so ever in their country. So.. yes, altcoins will get banned along with bitcoin.

To prohibit crypto currencies is a great folly of government officials. For one stupidity always follows another.
For me, it will not be a surprise if the ban is imposed on bitcoin, and the altcoyins will be left out of account .. officials-they are like that !!! :)

Of course, bitcoin is the main one of all altcoin. bitcoin and altcoin are both crypto currencies. plus altcoin is more risky than bitcoin which must have a very unstable price.

the possibility of bitcoin is not prohibited but there will be regulation must pay taxes. especially if many become bitcoin users.

Our country does consider it as a cypto currency and do not consider bitcoin as alone. So at present the committee report is awaited and soon in coming time things will get clear and if they frame laws to regulate it will be for all cypto currency and if they decide to ban than all cypto currency will get banned.

Every other currency is based on bitcoin. The structures of altcoins are made similar with foundation of BTC. Their consumer approach may vary but the bottomline is - they're BTC based. If a country wants BITCOIN to be banned. It will be necessary for them to ban any other cryptocurrency too. Mainly, government doesn't like the decentralization of BTC. But this is a main feature of any digital currency. That's why banning bitcoin would mean banning other crypto. Just like a chain reaction.

Countries do not ban Bitcoin, they ban cryptocurrencies, so using any coin will be forbidden.
Luckily, few are the countries that took such decision, besides it is always possible to use a foreign account where Bitcoin is not banned.

The altcoin is based on the development of bitcoin. If the bitcoin is banned, then the altcoin will be blocked, there is no reason that only banned bitcoin for circulation of the altcoin. That's impossible. For example, just forbidding bitcoins for the circulation of altcoin, the price of the altcoin will probably increase very high. I keep a few altcoin. If prices increase I am very excited.

Chances are high that if Bitcoin will be banned on a certain country, same thing will happen to Altcoin. They are banning cryotocurrency in general based on their personal reasons. Gladly, there are only few countries wmthat banned cryptocurrencies and there are countries that find it benifitial to their people. Hoping that Bitcoin and ither cryptos will be legal in most of the countries in the future.

I don't think that other crypto currencies will be banned too since there are only few people who accept other digital currencies besides bitcoin. As far as I know there are some countries who said they will be banning crypto currencies and ICOs on their country but they can still use it online.

Altcoins are branches of bitcoin. Thought both of the are crypto currencies it turns out that they are still after to bitcoin's legend of being a currency. Since bitcoin is the known crypto currency or our so called digital currency, what ever against this crypto currency could basically be against also to its branches, alternative coins. It is not the bitcoin really being banned but the crypto currency itself.

Most of the time that is exactly what happens, When they ban Bitcoins, other cryptocurrency are all involved but because Bitcoin is the pioneer in that field they mention it's name rather except when the government has an ulterior motive behind.

I tend to think of it as creeping normalcy. Of course there are ICOs out there that scams investors but the ban was a blanket ban. Meaning people are stuck with only existing alts. How it was beneficial differ on who you talk to. For example they are claiming it prevented a bubble, etc. http://www.scmp.com/news/china/economy/article/2122691/beijings-bitcoin-ban-helped-china-dodge-scary-cryptocurrency

There are rumors that the ban may be lifted this year. Whether that happens or not, remember China have it's own pet project crypto and that will affect how they treat alts and bitcoin.

Maybe you get point there but its hard to control everything online, I am aware that few websites are blocked and people have to use VPN to access particular websites and all. This is one example how certain countries have control over the people and when you think of it, country is just an imagination in our minds but we all follow its principles because we feel safe with it. China is big market for crypto world and I personally wouldn't like it to go away. They could "ban" it but still it doesn't stop people from using it, I am not sure about their laws there. Thankfully I don't live in China to have these problems :X

I am not sure, maybe ICOs could be banned due to their own rules then
 "The People’s Bank of China halted operations for digital currency trading platforms in Beijing and Shanghai in mid-September over concerns that the unregulated markets could pose major financial risks."

Yeah seems like countries are looking forward to issue their own currencies first time I hear about China, guess I wasn't paying attention, it looks like those will be ripple-alike currencies where mining and all is centralized.

Thanks for this article!

It's true that banning something in country doesn't really mean that the entire country will stop using it but a majority of the law abiding citizens will move out of it. I am not sure that China has already banned bitcoin, but if they do it, I expect a drop of around 60% of chinese bitcoin users. There are people who wants to play and stay safe, especially the employed mass of the country. They will not want to use bitcoin after the ban because if they are caught by the regulatory agencies for doing something illegal and produced in the court of law, they will not be able to join a private job and their whole career will be doomed. So if China ban bitcoin and any other crypto currency, they will be first to move out of crypto market by selling their holdings.

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ICO is a different story all together. It's controversial and I support a strong regulation around it. In my experience of few years in the crypto market, I have come across a lot of ICOs that have ran away with investor's money or never came back with the promised product in the market. We are still having such ICOs where the website is not operating after the crowd funding phase and no value in the market for the same reason.

EtherGreen is one of the examples. I have around 4k Green token but since the website is not operating and support is not replying, the coin doesn't have value in the market and no one wants to buy it. Think about those investors those who have believed in their ideas and invested heavily in it. So a strong regulation is needed in ICO space, otherwise ICO will just become another hyip market. So here I support the decision taken by China.


Bang on! I don't expect any country to release their own crypto currency, but even if they do, it will be strictly centralized and it will make the monitoring easy for the regulatory agencies. So even if my country release any such thing, I will be least interested as it doesn't not serve the purpose of crypto currency at the first place.

Yes , sure!  This because country ban is a cryptocurrency ban not only Bitcoin ban .

It depends on the law and what Government is actually banning, if it is crypto currency and it is interpreting what they mean by it, then yes altcoins can also get banned. On the other hand it could be just bitcoin and then you have nothing to worry about.

Yes when Bitcoin is banned in any country all altcoin will be affected. All altcoins took after Bitcoin and what affect bitcoins affect altcoins.

I believe yes because the government does not emphasis that is only bitcoin which is banned they might be focusing much to bitcoin since it is the most popular crypto currency but when a certain implement banned of crypto exchanges they are referring to all cryptos not only bitcoin alone besides of bitcoin is banned I don't think people will ever continue working for other alts knowing the fact that the most expensive one is prohibited in their countries.

I think yes, They are all type of cryptocurrency and they all have the same functionality. Because cryptocurrencies are decentralized and anonymous, the government does not have the power to control them and they can use by some people to criminal activities or tax  evasion and that is one reason bitcoin banned by  government

I think most countries' laws will address crypto as a whole rather than bitcoin specifically... so the answer is probably yes.

I think that the governments of most countries would prohibit the general use of cryptocurrencies rather than prohibit just BTC.

See it is but obvious that countries,if they want to banned bitcoin,they have to banned whole concept of cryptocurrency.If not then what is the point of banning single coin.There might be only if they want to increase the value of one certain coin by banning bitcoin which is very rare and had not happen yet.The main reason behind banned is the disturbance that has been caused by the cryptocurrency in financial planning of the countries and that would not be solved by banning bitcoin itself. So it is clear if countries want to banned bitcoin they have to banned every altcoin too.

Yes the bitcoins closure means even end of altcoins as all are a part of the crypto currencies. This would take time as of now no such signs and regulation processes are still on. Let's see what happens in the near future. We have to be prepared and planned for the worst.

altcoins is a kind of crypto currency. In principle, crypto-currencies can be called anything. The bottom line is that in legislative acts this phenomenon is prohibited. So when I prohibit Bitcoin, this prohibits altcoins.
  The features of cryptogeny are such that their complete prohibition is impossible in principle.   

Of course, governments usually ban cryptocurrency itself, they just call it bitcoin, because they dont know the subject well

Though they can scare the people in a country with restrictions and bans etc, they will have a really hard time to define, what a crypto currency really is and how to actually ban a protocol, without banning other legal tokens at the same time.
Also a country has to think very well, if they possibly get isolated, when they refuse to join the progress.

Yes I think that restrictions anyway will be related to all cryptos.

Yes, there is no doubt about it.
If bitcoin were banned in this country, other altcoins would surely be banned.
Because bitcoin is banned, it means the country has banned the encryption of cryptocurrency markets..

When they do a law paragraph, they bann all cryptocurrencies. I think when they know about bitcoin they know about other cryptocurrencies. The problem ist just with blocking the part of the internet. They can never block all connection to the blockchains. So there will always be a way. Especially with coins like XSPEC, Onion or Verge. These are totally anonymous coins which works in countrys where cryptos are banned too.

Most likely yes, since bitcoin is the progenitor of crypto-currencies it wouldn't make sense to make an exception on the ban. Though maybe, just maybe, ripple might not be included once that happen since it has the favor of banks. And banks as we know it, have enough power to influence a country's government.

I guess, the cryptocurrencies all-together will only be banned. There is no point in banning bitcoin alone and leaving the altcoins around..

Exactly, whatever might happen to bitcoin negatively or positively have a direct impact on the altcoins and the recent fluctuations in the cryptocurrency markets have gone to show that bitcoins rises and falls with the altcoins and so if it gets banned in any country or even globally it will definitely have a ripple effect on the other altcoins.

If bitcoin gets banned in a country, that is most likely means that they are also banning the rest of the cryptocurrencies. We have witnessed how the market went to a bloody bath this month and that means bitcoin is down. That's simply because of the Cryptocurrency==Bitcoin pairing. So when bitcoin is down, eventuall alt coins will also down. So if bitcoin is banned, what's the use of other alt coins then?

I do not agree with this idea.

 Gold is a substance with physical value. I do not think that a matter that human beings can make can never take the place of nature.

After all we know that bitcoin is the mother of all crypto currency. If bitcoin was banned other alt coin will be ban in same time. Bangladesh government direct told by Central bank notice that "bitcoin, ethereum, litecoin, Ripple is illegal."

Of course the altcoins will get banned also because most of the times, the government look the overall cryptocurrency market as bitcoin because they know that bitcoin is the very first cryptocurrency that ever been made and publicized by satoshi nakamoto and if they will ban bitcoin then the altcoins will get ban also because they are all one type of thing which is a cryptocurrency.

Well I think that all governments/countries that banned Bitcoin, more likely that they will also ban the whole cryptocurrency market because the reason why most governments/countries wants to ban Bitcoin is because it is not stable currency, it is decentralized and uncontrollable while most of altcoins out there are also the same, so I don't think that they will only ban Bitcoin alone. But there is an exemption from this ban, if a government have issue their own cryptocurrency, I don't think that they will ban their own coin.

indirectly prohibiting also on all crypto, so if bitcoin is prohibited in a country, altcoin automatically also participates in the ban. bitcoin and altcoin are in a crypto group of digital currencies.

legislative bodies  are trying to create strict regulations or even ban bitcoin because they possess only pieces of the overall picture and they don't understand that bitcoin is not absolutely anonymous,thats why they are scared,they don't know that bitcoin transactions can be chased and when bitcoin holder trying to withdraw funds from exchanges goverments can ask for this information from exchanges.In my opinion monero or Zcash transactions are harder to identify and just imagine if they ban only bitcoin what will they get by this? Absolutely nothing,So if they ban bitcoin it means that they will also ban other crypto currencies.

i think it is yes, sometime they  said they not ban bitcoin but ban digital currencies / cryptocurrencies. so it means altcoins included in it. if they not ban alts, how people exchange altcoin to fiat if not with bitcoin first?

I think if they (government) forbid bitcoin of course they will ban all altcoin because what they worry about is cryptocurrency instead of bitcoin itself.

I don't agree with it, ICO's are mostly ban in other countries and also exchangers because they are being studied by the government which they think that it can affect their economy. But bitcoin itself are not ban. Did your hear a news that bitcoin was banned in other countries?

I think if bitcoin is banned in this country.
Altcoins will also be banned.

I think everything depends on why bitcoin is banned, if it is banned as a currency or trading instrument

Yes of cource,If the banned bitcoin all the cryptocurrencies including altcoins will be banned too because they are a group of cryptocurrencies.Bitcoin also has a big effect on the fluctuations  of altcoins because when bitcoin fall or rise altcoins also follows so I think the value of altcoins are depending on bitcoin so if bitcoin will be banned in a country,Altcoins might be gone.

Bitcoin is a virtual currency, so if the government or a country if they will ban bitcoin automatically they will ban all forms of transactions with virtual currency. Because the people will be more familiar with bitcoin be compared they said appellation with cryptocurrency.

Well if you want a solid assurance. Let me tell you that they will never ban Ripple. I guess it should be enough.

I don't consider a serious problem to ban bitcoin or altcoins by  one country.
In order to completely prohibit the circulation of bitcoin and altcoins, the authorities will have to disconnect the Internet,
which is absolutely unrealistic. Look what happens in China, where the government is trying to ban crypto-currencies.
They can not do anything. People easily bypass all prohibitions.

But the thing is, there might be consequences at the end if you are caught using/trading/owning a bitcoin in a country that totally puts a hammer ban. Of course you can get away with it such as proxies, VPN. But sooner or later the government will find it out and the full hands of the law will be on you.

Its a resounding YES for me. Governments that are against bitcoin will automatically ban altcoins as well. Because they will not put any distinction, as long as its crypto, its gonna be illegal.

I think Bitcoin being banned means all other alt coins will be banned as well since they are all in the same community, it is just that Bitcoin is the most dominant among those. Also, unlike individual people, the rulers are group of people to decide where in they will decide on the aggregate part of the crytp community and not only on a single part of it.

In my opinion most likely yes! After all, this is the same digital currency! And I do not know. can be anything

If bitcoin is ban in our country then all cryptocurrency are probably ban too.

Diffenitely what you said was right. I guess when you say bitcoin literally bitcoin alone but other altcoins consider bitcoin as the main source for their trading because most of the population only access bitcoin first before buying and trading to other cryptocurrency. So when the government ban bitcoin it would probably include all altcoins.

For sure it means all cryptocoins will be banned. If you talked to people and you say Altcoins, they would like 'huh, what?'. Then you say Bitcoin and they will nod there heads. Properly the same with government. When they say Bitcoins they mean all cryptocoins.

of course, if Bitcoin as the number one digital currency, is rejected
especially if only altcoin, of course they will refuse raw raw

Sad to say but that's the fact. In my local exchanger bitcoin is the only cryptocurrency that is acceptable for conversion into fiat currency. So, altcoins is worthless if bitcoin will get ban.

That's a good question, we don't know for sure the answer, but unfortunaly I think yes. Altcoins will be affected, because when government speaks about a bitcoin ban, they implicitly speak about cryptocurrency ban. All transactions will be illegal, even mining and faucet claim. But actually we aren't in this situation, all of this is theorycal, I hope this will not happen this year. I think it will happen in several years yeah, like 2020 because of climatic problem caused by bitcoins, they will regulate it.

If a country is imposing a bann it will impose on all cryptocurrencies not only bitcoin.

It depends on how the government will ban it in their country. If they ban only bitcoin then maybe altcoin will not be banned and therefore, altcoin will be the coin they will use. If they ban cryptocurrency as a whole then that is the time that all coins will be banned in their country.

If bitcoin ONLY will get banned in a country, probably altcoins will not be banned too but the price of altcoins will be affected maybe positive or negative.

I dont know! Can anyone share their knowledge? It's also a digital currency.