Bitcoin Forum

Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.

if i have a lot of bitcoin and chances are it will happen i will panic and sad because where to go sell bitcoin ...

Bitcoin could not be banned universally by all countries at the same time.Each and every country have their own ideas based on their geo political situation.For example,a south east asian country japan legalized bitcoin while china on the other hand took a strong action against bitcoin.Also many countries now have started to reconsider their stand against cryptos and have mostly decided to regulate bitcoin so as to increase their taxing revenue.

So no need to worry much about total banning of bitcoin all over the world.

If I have a lot of Bitcoin and the government suddenly prohibits the use of Bitcoin i'll surrender it in exchange for fiat or something better. I don't think they can close the Bitcoin network with an agreement it's not that easy to do. They could stop all bitcoin exchanges and other websites that accepts Bitcoin to reduce its usage.

Sell it on the deep web market.  ;)

I think it is very difficult to make the whole world ban bitcoin, because bitcoin is the first very good digital currency and greatly affect the economy of a country, and if that happens then I will quickly exchange all my bitcoin coins with FLAT money ...

Wouldn't that get you arrested if you are found out by authorities if it really does happen?(which is very unlikely when you take extreme caution by remaining anonymous even in deepweb)
Then I will simply dump most of it before they finalize the law if ever it really does happen. Although that is the case, why do you think all governments of different countries would take this move, if some of them wants to take advantage of it(and expresses their interests openly like Russia and Japan)? They have different interests and for this reason, I think it is very unlikely for this to happen.

They can't take it down my friend. How are they going to take down something (well, almost) untraceable? If people like us would continue to accept bitcoins in exchange to some goods, then I don't see any problem at all.

There's a chance but I think it is like 0.0001% lol. Well, I agree that every country have their own economic plans and strategies towards the growth of their own. Our government (Philippines) actually approved crypto (ref: http://news.abs-cbn.com/business/10/16/17/bitcoin-use-grows-in-philippines-regulators-flex-muscle) and even let some ICO's to run in the next months which is a good news for us because of this crypto will be popular and will avoid scammers as well which happened a month ago, see article for reference: http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp. All in all, I believe that crypto will not be banned worldwide :D

Every have a different views about Bitcoin some legalized Bitcoin and some banned it so i think it will not happen that the existence of bitcoin will be strictly prohibited around the world.

Your poll options do not make any sense whatsoever. You would receive more votes (or any) if you were to improve the questions and answers. If all of the countries united to prohibit Bitcoin, then they probably have solved a lot of other problems and would have successfully created world peace. All of the countries agreeing on one course of action, even if they agree that it needs to be eliminated, is less likely than avoiding another world war. It is doubtful that this will ever happen, and even if they do I doubt Bitcoin will disappear. It will simply become less popular, but taboos do not dissipate.

I dont think so for this thing to happen even how bitcoin or cryptocurrency would progress in near future its really an impossible thing for fiat currency or banking sector to be vanished because of crypto. There would be always a boundary or limitation on where crypto should really have its own place.It might give benefits but talking on replacing fiat is just like a dream. Government do have always the power and if they saw bitcoin is already affecting too much they would surely make desperate moves.

Cryptocurrency will be banned in the world even in some countries well maybe some of them. Cryptocurreny is living in the internet without internet there is no crypto. They can't stop people using internet that's why they can't stop people using cryptocurrency

The problem with what you are suggesting is that governments all over the world will need to agree to do something at the same time, and that is something that does not happen that often, and you need to also take into consideration that there are countries that are going to benefit from bitcoin, one of those countries is Japan and it is unlikely they are going to go against their best interests even if other countries ask them to do that.

that "one day" which you are describing here started on 3 January 2009 and has been this way ever since!

this has nothing to do with that! bitcoin is already a global currency and a lot of people are using it. but that never meant they are giving up fiat!

you seem to have forgotten that bitcoin is a decentralized currency, it is supposed to work in a way that you never care what someone else is telling you to do or not do. if the government tells you it is not allowed, you can show them your middle finger!

besides when was the last time you saw "all" the governments of the world do the same thing?!! not to mention that the adoption has already happened in majority of countries. so your question at this point is silly!

Good luck with that. Countries can't even unite to agree on simple things like trade deals, or more complicated things like peace, immigration and refugees. Even the regional blocs that were formed to make these "united" decisions easier have only made things more difficult, complicated. Look at the EU, ASEAN, AU, and many other smaller ones. What happens when one or more members disagree? In fact, some will deliberately disagree, usually because a decision either way benefits one more than others.

But all right. Even if by some miracle they universally decide to "prohibit" Bitcoin, who's going to spend the resources to enforce and crack down on this virtual economy? Governments can't even manage fraudulent signups or block citizen access to the internet. They want to try an enemy distributed across the planet?

I want to think about it when there are too many bitcoins. joke joke :)
this is really logical when you say it, but when things come to this position, the price of bitcoin will already be at a very good price  and Until then, all of us will have real investments, like a house or a field.

Unfortunately, some countries have received bitcoin because of the many perceived benefits. I guess with the presence of bitcoin and serve as a payment system does not necessarily make the paper money disappear. People will still use paper money in some activities. Actually, bitcoin is like a credit card, and now credit card already many people who use it but paper money still exist. The possibility of bitcoin will be the second alternative made by men as the payment system.

If all governments forbid bitcoin in his country and people think the bitcoin and cryptocurrency will die it's an unreasonable excuse. Bitcoin and cryptocurrency will always be there if the government does it, but if many people are using bitcoin the government will think twice about banning bitcoin. They have the option to use bitcoin as a support for economic progress. Tax payments and regulation where a cryptocurrency is a safe place for everyone is a solution they must think about.

I agree with you that technically it is impossible to prevent people from using cryptocurrencies, but the governments have the ability to block the connection between fiat and cryptocurrencies which is going to make it really hard to trade and use bitcoin which will completely force people to just leave bitcoin away.
Most of the people who uses bitcoin do it for speculation cases so blocking the connection between fiat and bitcoin is going to make it really hard for them to keep operating.

I'll sell if something goes wrong happens but sadly I don't have that "lot" of bitcoins on hold. I doubt it that there will be unity from country to country just imagine on how many wars are there and rumors that are about to explode. But it has been decided just look on how G20, they won't ban and prohibit bitcoin instead they want to regulate it.
G20 Calls for Crypto Regulation Recommendations By July (https://www.coindesk.com/g20-calls-crypto-regulation-recommendations-july/)

This is something which is going to happen at some point in my view, if bitcoin is able to hit the point where the world governments feel that they could lose power (and overall control) then they're going to all work together to take us down.And I know how people are on here, they think that we'll be able to last even with the government taking us down, but that's not true.

We can't. If the governments want to kill us with their massive amount of resources, then they're going to and that's going to be the end. We have to understand that.

A global ban will never happen. You have to remember... Bitcoin is Money and every developing country in the world, will try

to get their hands on that money in their country. < via Tourism / Trading / ecommerce ...> The opportunistic countries will

find a way to legalize it in their country, to attract that money... from the first world countries. People will go on lavish Bitcoin

holidays... in countries where it is legalized.  ;)

You are worried about something that won't ever happen. First of all cryptocurrencies like Bitcoin rely heavily on Fiat currency for it to have value, even though in the future Bitcoin is more used in transactions rather than Fiat currency it won't threaten its existence as without Fiat currency Bitcoin won't have any value just like your Paypal credit will be. Second I don't think a global ban will happen due to legal reasons, most of the countries who have regulation to cryptocurrencies definitely have laws to protect it, and I don't think they can violate their own domestic laws in order to just ban Bitcoin.

Bitcoin will replace paper currency in future. Bitcoin will not ban through out the world in same time. If I had huge bitcoin, when the bitcoin is ban on my country. I will sell the bitcoin to the trader in another country. It's not possible to ban Bitcoin through out the world on same time. Nearly in 12 countries, Bitcoin is legal in G 20 countries.

It is really a nice statement. If govt make that kind of decision when I will have some Bitcoin in my stock, I will be bit shocked, not so much. Look, I can use this Bitcoin as an asset. Moreover, i can use them in other so many online platforms. So if there is any policy made by govts to make a transaction barrier, it will not affect much. But surely a bit that will highly affect the demand and supply.

Nope, you said some right things but the chances is  0% and not 0.0001%.
If most of the countries will ban bitcoin, there must be some who wouldn't because they are going to have an huge benefit over the countries who ban bitcoin.
Not only that, those countries will be counted as freedom countries and will also gain some love from the world.
There is literally no chance that ALL the countries and republics in the world will decide to ban bitcoin.

The premise you're putting forth isn't even possible with blockchain technology.  So long as there's a network of people willing to use bitcoin, bitcoin will be out there being used.  Maybe they can stop central banks from letting people purchase and sell it through them, but that will only expedite their downfall.  If people want to do something, they're going to find a way around it.  There's no realistic way to stop bitcoin so this is never going to happen.

banning bitcoin is not possible  if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin

If you talk if that happens, there will be a lot of panic from people who take it seriously. Actually, bitcoin can not be banned, the government only limits its use only. Currently there are some countries that prohibit bitcoin and their communities are still using bitcoin. I will not panic, I will wait for a while and see the possibility that will happen in the future. If there's any hope of hold, I'll save it. If not, what should I say?

Its impossible for bitcoin to be banned all over the world. Japan for one is a pro bitcoin country. There are only a few countries that are against bitcoin. Most of the countries are only thinking of regulating bitcoin so that it can be used in their country and at the same time will abide by the rules and by laws of the country.

The only way the government of all the countries in the world can unit to ban BITCOIN is that they will first of all ban the use of internet worldwide and you know that is impossible because the internet is part of the day to day activities of even the government. The only thing the goverment of some countries can do is to discourage their citizens from using it by telling lies of how it will soon crash like my country's government is doing already but I still use BITCOIN.

Yes, if many countries ban Bitcoin, some other few countries will see on this situation a golden chance to make business and bring more money/investments to their countries. It's a good chance to bring businessmen to their countries, generating more jobs while letting their people deal with Bitcoin, developing accessibility and approaching everyone close to the future, to the technology.

Most countries may like to act in group, but there will be always some independent countries following only their own sovereignty.

Bitcoin is a mobile message that can be easily used as a book by people who have reached consensus. To completely block Bitcoin, it is technically difficult to achieve!
 If all countries block the BTC, it will certainly not be of value.

There is so much wrong in this line. Why the fuck are you even saying something if you don't even have a clue about what you're asking?
You cannot close the bitcoin network. What part of decentralized cryptocurrency do you not understand? You know what,screw you,I am not going to waste my time educating you with the basics.

I don't even think that this might happen. This days, an agreement is very difficult for countries lately cause almost every countries are seeking solely for the interest of their own country. But aside that, it  might not still work out because some countries like Japan and their like, did accept bitcoin and have started implementing it in their economy. And we hope that there will be more legalization of bitcoin in may country .

I disagree with the idea that governments should fear bitcoin.

On the contrary, governments should embrace bitcoin as the competition it provides can motivate politicians to better do their jobs. Bitcoin can encourage state officials to better serve the public interest, make better budgets, spend tax revenues more efficiently. There are numerous positive gains which bitcoin offers to the world.

Bitcoin also has the potential to expand our collective knowledge and financial IQ in terms of it serving as a testbed for new and exciting innovations and ideas. Over the long term, these have a strong potential to improve our banking and financial systems as we already see occurring with the adoption of blockchain in many industries.

Rationally it would appear there is no logical reason for governments to shut bitcoin down. There is no reasonable motivation for it other than corruption, greed or the state choosing to repress innovation and progress.

When all the governments in the world United to banned Bitcoin then we will a shrap fall of Bitcoin and maybe that will be the end of Bitcoin, even though you can't stop Bitcoin but when you had a hard time to deposit and withdraw, people will find other things to invest, actually I don't see any chance that all countries will banned Bitcoin, but if the scenario really happened then the best is to sell all of it before the official news out

I am still thinking of the possibility that this kind of situation may happen that's why I am diversifying my source of income so that I can still manage even if the cryptocurrencies would be ban. This is highly unlikely to happen but we cannot eliminate this possibility so I am building a business as well in a different field earning fiat. Although most of my income is from cryptocurrencies, I am converting some to finance my business. Through this way, I wouldn't be bothered much thinking that my country would ban crypto although they are already issuing licenses to some crypto companies. If ever they would decide to ban it, I would just stop earning from it because I don't want to be put in jail just because I wanted to continue earning or using it.

This is future impossible tense .Even the governments around the world are against each other but they go for international meetings and exchange pleasantries.pretenders ,behind closed doors they are looking for opportunities above their rivals.So it is impossible for them to ever unit .Our beloved bitcoin will continue to flourish until it change the world and cryptocurrency become the most preferred currency around the globe.

I think the whole government that exists in every country will not be able to close or ban the existence of bitcoin. actually this is something technological advancement or world economy so that we can use it maturely and wisely. indeed from some countries there are still some that prohibit the existence of bitcoin, but some countries also have even adopted bitcoin and use it as a tool of modern transactions. IMO all this still contains pros and cons and there is no way out, hope in the future I hope money and paper money (modern) still exist and side by side, so that they can complement each other in the future. if I have a lot of bitcoin, of course I will keep it and continue to roll it until the price soared again. this is actually my chance to be able to please my children and grandchildren in the future.

It is a purely theoretical case and I don't see any governments across the world having a mutual opinion about anything. We have seen that governments can't even come together for the important issues like climate change and thus, it is very less likely to happen. However, in worst case scenario if governments are coming together, even in that case they can not ban Bitcoin as the power of Bitcoin is in decentralization and closing it everywhere (on each and every PC running blockchain around the globe) at the same time is impossible. On the other hand, we will see tremendous growth in cash trades if governments are banning crypto to fiat and vice versa transaction.

The opposition of a state government is bound to happen when bitcoin becomes a global currency. I do not expect so, but all I want is the acceptance of all countries for bitcoin to be an option other than currency to use as a method of payment so it will not interfere with the ecosystem of each country's paper money. I will not do anything to bitcoin if the government still has not received the bitcoin as I had hoped.

First I think we will someway, somehow find a way to continue our job, maybe something will change but anyway, maybe in tor deep web, lol

That’s very unlikely to happen. Banning cryptocurrencies or Bitcoin is not very easy. The countries cannot ban a technology simply on grounds that it is reducing the consumption of fiat money. Especially when the citizens are holding a great amount of Bitcoin, it would be very difficult to ban it as it would cause huge financial losses to the public which can in turn affect the financial stability of the economy and no country would want that to happen. Moreover governments have no control over the private key transactions what so ever and all the 195 countries of the world moving in the same direction is something absolutely impossible. Terrorism is the biggest menace we all agree still many countries help it prosper where directly or indirectly then how can you expect them to take a stand on cryptos.

I dont see how it would be possible to ban crypto trading. You can ban a county from accessing a certain exchange but if that happens you just go to another exchange. Heck you can even buy crypto on ebay nowadays or any bigger forum that has a marketplace, it doesnt have to be a traditional exchange. Or buy your crypto directly from miners.

There is no way the governments around the world coming together and even if it happens no one could shut the bitcoin network and that is the fact, we are not competing with fiat currency and no one is hoping any country taking it as a national currency, people will be using it because it helps in trading world wide without any restriction.

I think that a person who has a lot of bitcoins should at least always be aware of all the news. Plus - risk diversification. If all countries impose a ban, they will not do it in one day.

I have absolutely now idea what you are saying here because every human can make transactions around the world and no government is able to prevent them doing so. Except they would cut the internet, but this would be obviously the end of the economy of that country!

Governments can of course prohibit it, but this will not stop it and in the history of mankind it never happened that all countries in this world had the same laws.

I would like for you to substantiate anything that you just said. China restricts their internet and their economy is doing fine. I wouldn't say public internet access correlates with a successful economy to a large degree. Governments are extremely capable of preventing transactions, and they do it all of the time. Do you think that everybody is able to perform their transactions free of government interference?

The banning of Bitcoins is happening every second some countries are banning it in a limited Manner, some are banning it entirely, some countries are using banks to ban the usage of cryptocurrency market and some are eradicating even the chances of people getting a hold of it ...
I don't think there is any possibility that all countries around the world will together ban it ..since the usage of Bitcoins is still very high , we have countries like Japan
where it's already an important asset..also government is to the people, for the people and by the people, if they make any rash decision it might cause massive opposition from all the investors that are in this .

the government will never agree with bitcoin. it is true that you say, bitcoin can damage paper money and can forget history for every country. but the government will not be able to stop bitcoin if all the people continue to believe in bitcoin.

The same reason why governments have never agreed on anything despite the fake gestures they put up for the camera, is the same reason why they wont agree on bitcoin and even if world bank come with regulations or sanctions, some countries wont still accept and turn them to toothless bulldog just like every other world bodies. Furthermore, simple things such as gay marriage (in which personally I believe everyone has right to be miserable in marriage irrespective of sexual orientation), marijuana legalization ( which I believe its the worst menace of the society) or death penalty ( which I also believe should not be an easy way out for some crimes). Governments could not agree on it, not to talk of something as complex as bitcoin that could change the whole of our existence, I doubt if they can agree on that.

Well, it's kind of an issue to panic about. Cryptocurrency market is gaining popularity day by day. We should keep patience and hope that it never happens. Even if it ever happens, we should all stick together and appeal to the government.

Job hunting is difficult but not impossible. People still get different jobs in different fields. So if the government of this said country would ban bitcoin, still that doesn’t make any big harm. But yes for sometimes, this would be difficult time for the people who are now earning from bitcoins. They might be disturbed and their families may affect badly till they find some other source of income.

     Well if this thing really does happen, I think that it would mean the end for the crypto industry because even if we say that there would still be brave people that will be using the cryptos still, we cannot deny the fact that the number of users will drastically decrease leading to big losses and less options for the left users of the technology. Good thing that this is still pretty unlikely to happen for now.

I think Governments think more about the ecosystem, let it be fiat or Crypto. If Crypto turns into mainstream currency, I don’t think Governments will have problem in it. There’s nothing illegal in it.

That's what I'm always saying to those who are afraid of a government ban. There was not even 1 single case of the world working together to achieve something. Just look at the world wars or other, smaller conflicts. There was always Russia vs Nato, China vs Japan, some nations hate one another and will never work together. Right now the EU is embracing cryptocurrencies and some countries like Malta are aiming to become the crypto hubs of the continent. Even if the EU decided to ban it, they would protest and lobby against the ban. It's just not going to happen.

Though various countries have their thoughts about bitcoins, majority of them don’t really think that’s it’s something of threat to their financial stability that’s why they haven’t done anything negative towards it but what that stance change and they collectively come together against it then I’d say that’s the end for Bitcoins.

Sorry but I think you can't analyze what you write, not only you but rest of people too.
Is bitcoin local currency? No. Can you send bitcoin from any place to anywhere? Yes. It won't affect paper money because as you see bitcoin's value is determined in usd or other currencies. Paper money can be reprinted but lost bitcoins can't be renewed. Goverment does nothing, they even can't ban torrents and dark marketplaces.

No you are wrong if all of the people from all of the countries will united to use bitcoin then the governments will know that their citizens are happy with that payment system and now it is not good to restrict it then they will find some good way to develop it more and they will not be able to do any thing against it as people will like to use it.

If bitcoin or any other coin becomes too big to the point that it threatens the currencies printed by governments then I do not have any kind of doubt that they're going to try something against it, you are correct in that, but at that point whatever they tried will be completely ineffective, they cannot even stop bitcoin now when there is a very low amount of people using it, if there where hundreds of millions of people using it they will have no chance to stop it no matter what they do.

Bitcoin network can't just be closed. As long as there are nodes on the network that are still operating, bitcoin will still be alive and well, and serve its purpose. Unlike previous anonymous payment processors, bitcoin doesn't have a central point of attack or failure. Governments around the world can't simply shut down the network, like they did to Liberty Reserve.

It'll be unlikely for governments to actually ban bitcoins, let alone for the entire world to ban bitcoins and for the governments to form an alliance on this matter. I think the scenario would be next to impossible.

It would definitely have negative impacts on BTC, no doubt. But I would not be surprised to see if there would still be a lot of people using it as a currency. After all, governments can't shut down the bitcoin network itself.

That's a nice idea but for me it will not happen...  Yes probably a lots of country prohibit the use of cryptocurrency in their country...  But still they cant control everyone of us to stop it...  Bitcoin is not illegal nor scam...  So if government banned it for me it will probably the worst problem of every crypto user...  But as long as the time of bitcoin today is not against us...  Don't worry about it...  But incase it happen we need to depend the uses of crypto until the government realize it...  Hoping that soon they will get thia point...

Let's face it, if all governments illegalize crypto, it will not survive. For whatever reasons the governments may have if that happens, it will start a massive decline and people will avoid being into bitcoin. Thise who would prefer to still use it will have an extremely hard time and market will shrink.

You are assuming that governments care about the well being of their citizens and that is not correct they only care about their own well being, if the economic system based on fiat currency is threatened by cryptocurrencies they are going to ban it, they do not care if their citizens lose a fortune they are going to do it, the problem for them is that such a measure is not going to be 100% effective.

If bitcoin is prohibited, of course I am confused to sell where my coins, but it is not an easy thing to ban bitcoin around the world. Of course the government will issue its own policy without harming money and bitcoin.

The operation of cryptocurrency is not very easy to control. Besides, it is not totally useless. Therefore it unlikely that all governments will at a point agree to ban cryptos.

However, if it so happens, then the should shot down the internet because p2p transactions will continue underground.

Here is the thing I mean, for me personally you can't invest a lot of your assets in the bitcoin,  it means that should be there is a real thing or company you need to make and to invest all you have in bitcoin. It will be good result if you have a lot of investment in bitcoin but no one can guarantee the safety of your assets even your country had legalize a bitcoin, that's why bitcoin was so risky.

i will sell all my remaining coin before the closure is implemented. if the world unite theres nothing we could do... by the time it will be set of. i have already sold my coins to market this is to avoid getting the coin into useless currency.

Fortunately, this is one thing that obviously cannot happen looking at the way things have been over the years and how government are already resorting to regulations. If they had the chance to eliminate bitcoin, this would have been done a long time ago.

Asides that, it is pretty much an impossible thing to imagine for all the countries all over the world to just come together to be able to achieve this. There would still be a lot of countries that would see benefit in all these, looking at Australia, Japan, Malta, and so on, which to me would be a hard thing to achieve.

If i already knew that might happpen in the nearest future,Then I took advantage to dump all my bitcoins and invest another thing to counter part cryptocurrency investment, Perhaps i will shift to real  estate investment because that is my passion to have properties,

If I have a lot of Bitcoin and the government suddenly prohibits the ownership of Bitcoin, bitcoin transactions or anything related to Bitcoin. then I will slowly sell my Bitcoin. but when I want to sell my Bitcoin, I'll wait for the highest price until I get a lot of benefits from my Bitcoin. because I do not want to bear the risk of loss, in because of the ban from the government.

That's also a form of 'decentralization'. :D

In all seriousness, it feels great to know that one country isn't the other when it comes to being open minded towards new emerging technologies. On the other hand, I am sure that when Japan has been booking consistent GDP growth through Bitcoin alone, other countries will follow. It's impossible for any well thinking government to ignore that.

Seriously, not allowing crypto currencies to develop in your country does more damage than allowing them to develop. If we take into consideration that it is a perfect hedge as well for governments, then they are even more stupid. In case the regular economy implodes due to their shitty fiat system, which is quite realistic to happen, they won't be hit as hard with crypto offering an alternative form of growth. Japan is smart, very smart. I'm looking forward to their GDP statistics for 2018.

This Is Never Going to Happen

Human beings are heterogeneous in perspectives and that is why there are always disagreements and wars because of failed compromises. Whoever thoughy this is merely joking. How is it going to be possible for all to agree to ban a thing as huge as cryptocurrency? Nah! This isn't going to ever happen. By the way, did we follow what happened at the recently concluded G20 summit which had in Argentina? Did we notice how divided the member countries were on the issue of cryptocurrency with many siding with the cryptocurrency stuff? So, OP don't panic. It won't happen.

If that happen when I have a lot of bitcoin there is no option except I will sell my bitcoin as soon as possible because if I keep hold it, I will lose my money, but I think that is possible to happen if bitcoin is prohibited all around the world because eventhough bitcoin become a global currency,  bitcoin can't be use as main currency and we are still need local currency for daily routine.

Definitely bitcoin will crash because in my country government has banned bitcoin and other cryptocurrency and now people cannot do transactions easily. It is a big problem for the investors in my country. But I think it will never happen that all countries of the world ban bitcoin, because now many countries are going to accept bitcoin and many already done it.

Every country has its own ideas, and many countries recognize the legitimacy of bitcoin. There will be no joint ban on bitcoin.

If state management is also taxing rather than static.

Investment in bitcoin is full of risks and we know that only those can invest in bitcoin who has the courage to bear the lose and face all kinds of situations. Many countries are legalizing bitcoin because the future is of cryptocurrency and if all the countries in the world ban bitcoin, it will collapse and there will no value of bitcoin and the holders will lose all their money. Nobody can do nothing in this situations.

Although there are still few that keeps supporting bitcoin when that happens, i guess it will be really a hard time for those supporters. There is also no telling what will happen if the government will really make a move and officially prohibit bitcoin all over the globe. And if really the government will be serious on this and for whatever reason they have, they will extremely do whatever it takes in order for the supporters to be on a hard time or if worsts comes to worst everyone who has bitcoin will be considered as criminal.

I think bitcoin is hardly to be banned around the world, for the benefit of each government is completely different, they can hardly be mutually beneficial. The government can close websites, they can catch trading floors, they can raise taxes. But the government can not stop an idea when its time comes.

Yes totally agreed, not all countries are the same perceptions on bitcoin that cause of banning mostly who adopt bitcoin those countries who want's to ride what is bitcoin and luckily that's what happen now here our country they are quiet in taking actions of bitcoin making policies.
I know there are some governments who making money in bitcoin and ride the whale of what bitcoin is.

I think that it is on an individual basis that members of the governments of different countries have huge amounts of crypto-currency, and this is why they receive big profits. But meanwhile, the ban on legalization of the crypto currency in their country is probably an ardent adherent. And everything is connected with the fact, in order to avoid taxing your income.

Ofcourse you should use your mind,atleast if youre a nood then exemption is for you.

Before this will happen atleast news will broadcast this wont happen overnight ,so you will have a chance to sell the coins and convert to money,isnt it simple?since you said 'LOTS' of bitcoin on hand for sure theres a new door will open for me financially

Yes i think it is what it is. The fact that each country is making a move while others have already done their part. One more thing is that they cannot control how to taxed those transactions if they will fully legalized bitcoin, that is why some other countries just limit its usage while they have also a protocol that both parties must agree to use bitcoin as their payment means.

Each country has its own view regarding bitcoin and i think that some of them had already accepted bitcoin maybe because they know that it can help their people financially.

There seems to be no denying that governments can ban cryptocurrencies. Bolivia, Ecuador, Kyrgyzstan, and Bangladesh have already done so. Russia issued a draft bill to ban cryptocurrencies in October 2014 and recent rumors suggest it might follow through.


Invest only what you are willing to loose  :D

someone once said "a government ban on bitcoin would be about as effective as alcohol prohibition was in the 1920s"

I agree. And if all country agreed to ban crypto currencies but a lot of people depends on it, it will be a big problem to the institute and it will also be the problem if the government. The government depends on the people on what they will do for their country, now if their country wants cryptocurrency then they wont have any choice

If all countries shut down, it would not be worth it!

Once the law is banned, it cannot be circulated, it cannot be bought and sold, even if you hide it, you can't eat it and you can't exchange it for anything else. What else can you value?

In fact, BTC is recognized by many countries in the world, BTC will be recognized by the whole world in the future!

I think that if worwide government will prohibit the cryptocurrencies, we will be still working, but the way we do will change

This is simply impossible. States can no longer unite to prohibit the circulation of crypto currency. Already a lot of states recognized the existence of the crypto currency and appreciated its advantages. as well as its advanced blockchein technology. So, first of all, we see that the countries of Europe and the European Union governance bodies positively assess the crypto currency, so there will hardly ever be a situation in which the crypto currency can be banned.

That is hardly possible. The will be at least one one (most likely more) state which refuses to do so, so it will become a haven for all crypto projects and prosper because of all these capitals rushing into it. So it will, in turn, trigger some other countries to reconsider their attitude to bitcoin.

This is precisely why bitcoin is so difficult to destroy, governments will need to ban bitcoin all at the same time and try to destroy all the nodes all over the world at the same time as well and even if a single node was kept alive that will be enough to avoid the destruction of bitcoin and I'm sure that the community will respond by creating thousands of nodes in a few days.

The result will be 0 value bitcoin , All opf the holders will immidiately sell their bitcoin .rememebr tha bitcoin's value depends on the number of the holder's bitcoin . Although this queation makes sense because bitcoin is being used as a secret money of some person , still it will be very hard to abolish or stop bitcoin .  If ever they will abolished it , it will result in many discussion as bitcoin not only as a currency buit also provides work on many people . Large INVESTOR WILL BE THEIR ENEMY AND IT WILL BE REALLY HARD FOR ONE country to fight large investor, because the economy of the country depends on those large investor , they might pull out their investment in certain country , so it will be very long discussion

Yes, Bitcoin is so difficult to ban all over the world because many people are now patronizing it and many people are so happy for bitcoin comes in their/our lives it given us people a good income compare to work in a regular job but if ever it will happen just like you and to others I will convert/exchange it to FIAt/local money.

Not very difficult if all countries around the world unite, but I guess that it will not totally eliminate bitcoin from existence, there might be some people who still uses bitcoin secretly to avoid
government's punishment so by that the blockchain will still have transaction, the miners still there even if the hash power will running down drastically.

The OP's idea will never happen, crypto currency cannot replace each countries fiat there will be a big problem to this. Come to think of it again and think what will be the effect if this thought will happen.

I believe that bitcoins will be recognized by other countries as well and they will use it for their own economy to improve just like what japan today is doing about cryptocurrency.

I'm not sure all the crypto money owners will just let their coins go, maybe there will be a black market crypto if this really happens.

     It is difficult for bitcoin to become an international currency because not all countries accept bitcoin. Every country has it's own currency issued by the goverment and bitcoin before you can use it offline you need to exchange it first into a fiat money,so i think there is no problem about it. Unless the government has a full control over bitcoin.

This is far from happening since we have already observed that some governments agreed to implement the use of Cryptos.
In the real sence, they could also benefit from it, they just have to figure out how and in a fairly way too.
It is either they abuse it and people are the one rallying for it or people are abusing it and government will try to fight it.

I know that the legalization of bitcoins in countries are temporary and may change from time to time but never ban it all at the same time. Many are interested and will always be interested in Cryptos. Not to mention the greedy users. They will not stop until they get rich.

This scenario is far from reality to happen since we have heard in the news that some countries like Japan regulated already the use of bitcoin. If this happens, this will create dispute between the benefit that bitcoin provides to people and the fight of the state with regards to fiat. Fiat money will never die, especially in third world countries where facilities like internet and computers are not available in all places. Anything can be arrange accordingly and should not end like this.

I think that scenario that is already happening, governments are looking at the possibility that bitcoin becomes really big and if that happens we cannot expect that they stay silent, they are going to take steps in order to try to neutralize the threat that bitcoin represents to them, but if we are perfectly honest with ourselves we will find that it will be possible for them to completely stop bitcoin and they know it.

Unfortunately, in that case there is nothing you will be able to do about it as you may not even see an exchange to make use of and you could as well just be bag holding your bitcoin hoping that one day, you may as well just get to spend it again.

Nevertheless, no need worrying about situations like this as I do not see in any way where the whole government all over the world will deliberately gang up against bitcoin to make it nonexistent. Most especially, there is nothing to hold against it even if it becomes a threat to fiat and worst that can happen is strict regulation which still does not affect anything much.

But I for example BTC is banned by the government, in my opinion BTC can still exist. Despite the low price, BTC is still traded in decentralized places. Not to be traded in the current concentration. But that is just an example, in fact the BTC is now accepted by many countries not easy to collapse.

I do not think that there is enough reason to why all countries should ban cryptocurrencies - they are the future of traditional fiat in this digitalized world we are on. A huge percentage of pople who think crypto should be banned are clearly have no adequate knowledge about its importance and how it can revolutionize money as we know it.
Cryptocurrencies especially bitcoin have far lot greater potential and benefit.

I am pretty sure that this day wont come as its the government's money that will be locked in into the Bitcoin. (In the form of Taxes)

But lets consider if they really do that then this could turn the whole world into chaos. There is more than 400 billion stuck into the crypto currencies and mega companies have also started using the crypto currency. This means it could hamper the world economy badly leaving the panic among the people.

So for that not to happen government will give some chance for us to cash out everything that we have in the crypto currency and then the prices for the coins will become zero. The one who cash out first will benefit and others will go on loosing as the prices drop.

This is something thats gonna happen surely.

there is no reason for the government to ban bitcoin. should they not ban but make rules !

You can't really prohibit usage of a decentralized network, the whole thing about it is that the nodes can run the network without the need of a centralized unit.
Governments can decide that they are no longer going to allow fiat-transactions that are related to bitcoin, but they cant actually block the on chain bitcoin transactions.

If it really happened, then it is the doomsday for the Cryptocurrency players! because All countries have united banned, continue to where to go Bitcoin. I think Bitcoin will die, And people who have a lot of assets in Bitcoin, Will crying lamenting his fate, because assets worth hundreds of millions just disappear.

Hope that will not happen in the futre, but if government suddenly prohibits the use of bitcoin, i will sadly sell them in to exchnager to earn atleast some profit, lets just follow the rules and go with the flow.

It is really hard to speculate in this early days of cryptocurrency most especially Bitcoin because a lot of countries keeps on adopting and making implementations and just decide to only regulate cryptocurrency such as Bitcoin and Ethereum just like here in my country. Fiat money and Bitcoin has both importance to each and everyone of us because they have different technology and purpose. They also have advantages and disadvantages so depending on our desire and usage we will choose what makes us comfortable and convenient.

Governments work in regulating bitcoin but in India they are trying hard in making restrict cryptocurrency in a confused way some country cryptocurrencies don't have acceptance of any form

If thats happened bitcoin will totally ends, and the holders of bitcoin will just stare the bitcoin they have and feels upset/ very down. But it will not gonna happen, bitcoin will not totally ban in all countries.

What you're suggesting is probably never going to happen.

The worldwide regulation of bitcoin may occur, and in fact, the process is already starting to get underway. However, the worldwide ban of bitcoin is simply something that will never happen. It'll cause public outrage, and will be completely ineffective.

For as long as people see a reason to use bitcoin, and there always will be as long as fiat is still in existence, bitcoin will survive. Bitcoin is decentralised. People will simply trade peer to peer instead of on regulated exchanges, just as we see in countries with exchange bans already. But again, these are very extremely circumstances that will never happen.

Bitcoin will never be banned universally maybe in some area of this world bitcoins existence will be banned but not all country and if ever this is possibly happen this is very sad because we can never make an easy profit by using altcoins but i think if this are mightily occur the country government will have an early warning before they're ban bitcoin in their countries so better to sell our assets.

Never say never, the probability that bitcoin is going to be banned all over the world is not very high but the possibility is there, there are some very powerful countries like China that do not like bitcoin at all, and it is possible that the United States probably agree with the stance of China and if both countries were to unite their diplomatic strength they could convince most countries around the world to ban bitcoin.

Bitcoin has a large enough community, I think it's very difficult to drop the bitcoin and make bitcoin no value at all. You do not panic, I'm sure bitcoin will still exist. The government in my country also forbids bitcoin, but I can still use bitcoin as an exchange rate.

It’s as simple as - they can’t do that. Sure they can put “frames” around it but they can’t prohibit it all together.

Definitely agree on this one because of the fact that no one owns Bitcoin and it is decentralized so all that they can do is limit their citizen on using Bitcoin. it is also being recognize by large companies and believes on what Bitcoin can do in the near future so I think it won't happen as long as Bitcoin remain with strong community.

Although they can’t just ban bitcoins but they have. They have banned bitcoins since the first day. They don’t like bitcoins just for the reason that it might open their all records of corruption or they can’t be able to make any more money because of proper transactions recording. This is reason for so many government officials that for their personal interests only, we are facing ban on bitcoins.

Well, first I will like to say that your post doesn’t make any sense at all. Bitcoin can already be used for international transactions to any country of your choice. So for you to say that that will be in a “ one day” makes no sense to me. Not every government is against the use of Bitcoin, there are some governments that supports the use of Bitcoin and there are some of them that are even into mining. I read a news about Russia opening up a huge Bitcoin mining farm, and I’m very sure that is happening right now.

Outcomes cannot be ignored, even if governments around the world will not like to allow cryptocurrencies to flourish they will have to do it when they see that the countries that decided to adopt cryptocurrencies and to do a favorable regulation of the market are experiencing a boom in their economies, in fact that is why I think Japan decided to adopt bitcoin so rapidly because they understood that before anyone else.

I do not think that such a situation is possible under the circumstances. Too many states have recognized bitcoin and another crypto currency, and even more states are on the verge of their recognition and legalization. However, even if such a situation arises that most states will decide to ban crypto currency, then they will never get a complete ban on them. Given the complexity of controlling such a ban, people will always have the opportunity to use the crypto currency through the Internet and other countries or simply in the system of peer-to-peer payments. It is already impossible to prohibit a crypto currency. The point of no return is already passed, the crypto currency has already become very popular so that it can be so easily banned. People are already ready to defend their rights to use crypto currency.

It seems not possible as many countries have adopted crypto and few are bringing out their own crypto. Many banks have adopted XRP etc and banning worldwide isnt possible

What if they don't ban it where will that take you? We can stop worrying about things like this that we can't control. Let nature and the economists take control. That is the way I see this but I know all the governments can not ban bitcoin. This is not possible.

If bitcoin will become currency of the world meaning the government has already allowed it to happen and giving no secondary resistance to oppose bitcoin and possibly during that time paper money is already obsolete.

If a global ban should happen, and i pray to God it won't, then i hope i sold all my holdings before that happens. I'm pretty sure there will be news and protests that will happen before a globan ban. But then again, alot of moey will be lost so it couldn't happen. Maybe stricter regulations and taxes will be applied.

I will gladly say never! First and foremost, the world is not governed by a single entity who calls the shot, so for us to assume that the whole world will come together to declare war on cryptocurrency is totally something that is impossible. Come on! Let's even see how things are going presently in the crypto world. There are some countries who saw the benefit in crypto out rightly and started regulating, while there are some, that just keep pronouncing the negative. This alone shows the fact that there will be some differences in view among all these countries whether we like it or not.

i think the truth is kind of imposible after all, if all goverment are united to make such move like that they will going undercover doing that, and after all people can win if the majority of people are support bitcoin and united against it

This would be a bad day for us all, even if I believe, that we will find a way to conyinue out work...maybe in darknet somewhere)

Yeah, the community is pretty huge and looking at the nature of how decentralization has come into play, I want to believe this is something the government itself knows cannot be controlled except for the conversion or usage of fiat to crypto that can be monitored through exchanges.

It is going to be a pretty hard thing to expect that would come into fruition as the whole government all over the world have their own different way of doing things, and while some can impose some rules, some may not, except to find a way to accept and regulate it.

Firstly, let's even take a look at countries like Japan, Australia, Malta and so on that are embracing the ideology and letting the space grow with some little bit of regulation. There will always be countries who will be able to see the future more than the others, and that is absolutely one thing that will make it impossible for every one of them to think alike to want to discard this option totally and not embrace it to the core looking at the real life cases and benefit the country is deriving from it already.

I think government will accept bitcoin in the end. Government can not prohibit technology development and what government can do is put taxes on bitcoin transaction. Bitcoin have limited supply and i think its not effecting on money circulation because bitcoin will become investment asset

Maybe you should see how most countries are presently operating things on their own irrespective of how other countries are. There is no single country dictating for every other country globally for something like this to ever happen or one single body appointed for that which can be manipulated. Governance is done by every country the way they please and thinking it will be possible to get all the countries heading towards the same direction is impossible.

The problem when that happens will be the same problem that they have right now, how are they going to do it? It is very easy to talk about dismantling the bitcoin network, but the difficult part is to actually do it, with so many nodes around the world they will have to destroy every single one of them in a single stroke and if they don't then they will leave open the possibility of more nodes emerging, and if bitcoin becomes as strong as you are implying people are going to oppose such measures, not only people like us but really powerful people that have invested in cryptocurrencies.

Banning bitcoins is a bad idea for the govenrments, i know that cryptocurrency is a threat to banks but it is also the reason why most of the people are preferring to invest on bitcoins more than placing their money on the bank because the scale of increase is very low.

Countries can no longer unite to prohibit the crypto currency. Too many states have recognized it as a means of payment or as property and many are going to do it. Therefore, a joint decision to ban crypto currency is no longer possible. Crypto currency, and in particular bitcoin, has already been used by many people as an international means of payment. As for the states, the situation here is more complicated. Their deals are prepared long and in advance. Therefore, high volatility of the crypto currency will harm such transactions. However, let's see what will happen in practice. Perhaps, various forms of calculations will be combined or something new will be invented.

There's no problem after all but panicking is not the right thing to do because in this way you might not even get the chance to earn a huge amount of profit if you will recklessly react to the price drop.

Indeed! Each country has different views and legalities in the existence of bitcoin, some accepted it as a mode of payment electronically while some restricted it. However, Bitcoin is becoming very popular and more people are using it already from across the world and do trading or investment. I don't think country to country can stop the operation of bitcoin, no two countries are the same as one banned the other will replace its place. That's just life, stay calm, and strengthen faith.

I don't think it's going to happen, not all governments are against about bitcoin. In fact, some countries create regulatory standards for digital assets like bitcoin and have recognized it as a currency. Bitcoin's operation can hardly be discontinued and I hope this issue won't add up to cause panic.

There are less chances for governments to come united to make it happen as we see cold war between countries. There is a heavy competition in growing each countries wealth and they find roots to grow more.  As crypto would certainly benefit the countries in their economy growth and they do realize this,  there is a less chances for completely denying bitcoin.  What they started doing is,  as they found crypto to be strong,  they themselves started creating their own crypto coins if you look at.

Before such a scenario (which is possible in the future), the whole world economic system will be revised. Now the global economy is jazzy centralized and tied to the dollar. in the conditions of such a system only the continuation of the crisis is possible

Indeed, if these things happens, it will pave the way for a new century, a significant breakthrough in advanced technology and also give all users  a big chance to use digital currency and take any transaction country to country easily. However, it’s not easy to occur. With the latest situation, we all know that most of governments impose a ban in using cryptocurrency strictly, especially bitcoin. They don’t care what bitcoin can bring to this life, only do they know that is trying to reject it. Fiat, moreover, probably is supported more than digital currency. The members of crypo community seems be fewer than the ones who don’t know crypto.

This is not possible. Looks like a sheer hypothetical situation. The technology has a great value and importance for some countries like European and others but is redundant in other countries like Middle East.  The countries using the technology are getting the benefits and great services the technology offers. Besides, it has created huge employment opportunities and people who were a burden on the state years ago are no earning their own money in the crypto currency.

Since I'm here it is obvious I will not like that, but to think that could never happen is a mistake, how many countries have changed their stances about something when they are pressured by powerful countries like the US, second your argument makes the assumption that those that have already begin to accept bitcoin cannot change their mind and this is something we see all the time.

There may be a united nations organization but still countries are still in competition to grow their wealth and improve their countries economic condition. Some countries are already moving forward in adopting cryptocurrencies and some are still in denial because they do not want to disrupt their financial system but when the time comes when other countries are already adopting it, they would eventually adopt it too. There is a higher possibility for the countries to be united in using cryptocurrency or blockchain technology than to unite to prohibit it given that they just cannot stop it unless they turn off the internet which is not possible.

The frames are more like the regulation and policies gradually coming up and I totally believe that with the way things have been for a while now, and looking at the approach of individual country with respect to its acceptance, it is something that cannot work out for every single country to go against the development and growth of the cryptocurrency space. There is a lot of benefit to gain from it, and while some are busy looking at how to halt it, some are busy looking at ways they can benefit from it.

If all countries will totally banned bitcoin before it will be implemented ill make sure I sold all my btc.But it doesnt happened that easily totally banning bitcoin in all countries because in every country they have different perception in bitcoin.

Not only you will sell out all of your BTCs, the companies and every single person that is having BTCs will sell them out because at that time, BTCs will be of no use and it’s a universal law or reality you can say that when we see something of no use to us, we simply throw it out because it’s just a burden for us at that time and BTCs would be a burden for the people at that time.

If that should ever happen, and i doubt it will, then there is no other choice than to cash out and invest it on something else. Then again, i don't think the whole world would ban crytpo currency just because they feel nostalgic about their paper money. If every they bann crypto currency in my country then i have to say good by to my birth land and move someplace else.

I don't think that's going to happen, because all the countries in the world are not going to agree on bitcoin, because some countries have recognized bitcoin's legal status.

Yeah mate! They are of course pretty smart and from the way tones are gradually changing in some of the countries that have been trying to prove their level of autocracy over the space, I am sure they are beginning to see how stupid they have been just like you said, while seeing the way things are gradually going for the countries that are accepting it, regulating it and allowing the space to evolve.

Talking about Laggards, that is what most of those dumb governments will eventually turn their countries into and miss out badly. That would be a huge shame on them!

Thanks for bringing that up bro. That alone shows that each country will end up having their own perspective and will simply be making their own policies. Good we do not have a general global policy that will end up affecting each country directly and good thing they are all independent of each other, at least those that are! There is no point actually trying to think of something that in the real sense, the chances of it happening is zero to none.

No need for a black market. The fact is just like any other person already said; this is something that will not happen. Every country has their own system of governance and they cannot just impose anything on anyone just like some will want to do, due to their democratic system of governance.

As long as this is in play, all countries can simply not come together in one accord to let this simply play out and moreover, on what basis are they going to want to do something this outrageous.

i think that could be hard for them to doing that, and if they are really going to crush that matter it can crush them self too, because a lot of people right now are very like the kind of the freedom and when they know their freedom wana gone, this matter can hit back the goverment it self

What most people do not understand is that, we simply do not need the government to make a decision and we can still end up trading our thing, utilizing it as long as we see the value it brings as a currency and that is one thing with decentralization that the government can simply not take away.

Also, so many countries are already regulating it and that is simply affecting their economy growth in a good way, for instance Japan and if all other countries start seeing this, they will simply want to take the same step, most especially the underdeveloped nations.

I would keep each and every single last bit of it and fight. I'm also dead certain that are many others who would do the same and by such a time for crypto, alot more people would be using it by then. If government is smart they would not choose this route tbh

banning bitcoin is not possible  if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin.

They do not have the power to do so, the only way to affect the bitcoin network is by shutting down the whole internet and if governments around the world did that there will be an outcry from a significant portion of the population of the world that are very dependent in it, in fact I do not know if governments could really shut down the internet since that would mean shutting their communication channels as well.

Governments can ban bitcoin but there is a big difference between a ban and to block bitcoin completely, they can ban bitcoin by just some voting and a stroke of a pen, but to block bitcoin they will have to develop a way to block bitcoin specifically, they will have to begin to destroy nodes all over the world and maybe even taking measures against bitcoin holders and this is a lot harder than it sounds.

The BTC system is alive in the online world. Unless all countries in the world have closed the network, the BTC system cannot be closed! Closing the Internet all over the world has serious consequences.
So technically blocked BTC!

If the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.

              Obviously if that will be happening, they will use all their means to prevent us from using crypto all over the world, aside from that, since they cannot control this kind of economy and cannot get their hands into it, instead they will use those resources that are within their control in order to go against the users of crypto. That is how i see the country when all of the government members will be against crypto.

Even if all countries unite and try to prohibit the crypto currency, they will not get it anyway, because the crypto currency has already penetrated our world! Progress can not be stopped and the government, in my opinion, should not hamper the development of the crypto currency.

I think it's very difficult to get the whole world out of bitcoin, because bitcoin is the first truly excellent digital currency and profoundly affect the financial. Bitcoin is the future technology. No one can refuse the technology.

You have a point, and to be honest they cannot really get their hands into crypto because of its decentralization, but instead they will use something they have in order to keep the users off the crypto, for example is by using their law to prohibit crypto in a certain country. In my opinion some companies are already having an idea about blockchain technology, but still they are waiting for some hints to when it is time to use it, because as usual their company will be at stake if they make the wrong decision.

But although it can not stop bitcoin completely but the effect of the prohibition and regulation of a country is very large on the crypto market, especially if the whole country is united to ban the existence of bitcoin, of course it will shake the market crypto and bitcoin, I can not imagine what will happen if that's true..

We should not underestimate governments it is true that the only way they have now to block bitcoin traffic will be to block the whole Internet and that is not a real possibility but at the same time, what if they find a way to distinguish bitcoin traffic from your regular traffic, in that case they will have an effective way to block bitcoin and still leave the internet intact.