Bitcoin Forum

Reminder- Anti crypto Brad Sherman is up for reelection this year. Lets make sure that doesnt happen!

Bitcoin becoming illegal might boost its value ;)...

On a more serious note, high value companies that use ethereum or other smart contracts will either use a centralised other service or will have a data management firm hosed somewhere in Europe (if compliant with gdpr) or oceana/Asia if not... Ultimately other than retail use not much will happen.

Saying that, why would a country seek to ban a potential growth product anyway... There seems to be a growing issue of governments not liking new change they don't understand because its not what they can invest in and these people ought not be in politics imo...


(also you might want to pick. A more relevant title, reminder isn't great)...

States will always try to prohibit the use of cryptocurrency. Of course, except when they develop their own cryptocurrency. It's absolutely useless to fight their actions. It's like trying to ban Bitcoin.

Doubt it. Depends on the way it'd be made illegal, but I still do doubt this. If it was done like FDR handled gold, where he says that peopel who own gold have to surrender it, then we're going to see a very large price crash.

Because this would mean that all of the bitcoin currently seeing on exchanges is outlawed and must be given to the US government  (at least for US exchanges)-- I don't think that the Winklevoos twins (Gemini) and the founder of Coinbase want to go to jail for not handing over the correct amount of bitcoins to them.

Though I've said this time and time again over the years here. If Bitcoin was seen as a real threat to the monetary system, it would've been outlawed sometime ago already -- they don't see it as a thread. Maybe they will in the future (them being governments) but it isn't now.

In my scenario I am talking about banning it in the US -- which is pretty wild. If it was banned in some random no name country I guess we could debate about it further.

In my opinion, even if Bitcoin is banned, it can still be used quite anonymously and safely. I also think it will be difficult enough for the government to organise a procedure to seize the cryptographic currency, as I'm sure you will not give them your seed phrase.