Bitcoin Forum

What do you think what would happen if Russia and China would ban bitcoin? Cause its really could be.

They already did ban bitcoin.

So making it official should not have any impact on the price.

Why do you think that shouldn't?

I think they just discourage it, which pretty much has no effect.  Bitcoin is bitcoin.  Its adoption depends on how big its previous bubbles are.  

I think others will still use it even they will no or do not.  8)

Russia recently softened its stance towards Bitcoin and they are thinking how to regulate it effectively. China didn't ban Bitcoin, they just prohibited its use to banks and exchanges can't deal with banks. Some workaround were found by Btc China that is accepting cash deposits through faucets if I'm not mistaken. Honk Kong right now seems to be the hub of innovation in China regarding cryptocurrencies and its probably from there that ideas for definitve regulations will come. I don't expect China to ban Bitcoin at all, they can easily become the leaders of mining chips production.

I don't think it will give much impact though..

not really ban btc, just official warning was given to public. China banned the transaction processing company from third party directly deposit to the exchange by customers.

Major western players are FUDing about the legality status of Bitcoin halfway across the world in hopes of lowering the price and grabbing some cheap BTC from the clueless sheep.

No they didn't.
If we read the latest news they made it even worse. This is from August 5th.

http://www.coindesk.com/russian-ministry-finance-drafts-bill-banning-bitcoin/

As for China... who cares for a country that had is currency pegged for decades. They of course don't like a currency they can't play with.

China could peg BTC to the yuan. They have the fire-power to implement a currency peg.  ;D

Did they actually ban it though? Seems like it was always a lot of misinformation and fud more than facts to be honest.

Another noob with an AD BANNER fishing for views/clicks. Onto the ignore list you go.

How can they effectively "ban" Bitcoin tho?

They each banned bitcoin a few times already :)

One thing I cannot understand is Russian gov's negativity towards BTC, while RT news, considered to be Russian 'propaganda tube', is very positive on BTC and cryptos in general.

Even after the official China ban, bitcoin still managed to rise. So f**k those bitcoin haters. Bitcoin rules 8) 8)

Any so called bans will only be temporary... they will just be slow adapters that will have negative economic impact as the rest of the world moves forward.

China:
 I think, that ban btc in China not to be serious, becouse Chines btc users wanted to do physical btc coins. Ban in China will be not good for community.
Russia:
 Already baned, community don't lose much more then China.

when did that happen?


 :P

hm I can remember Max Kaiser ranting about the US, that they will be the last to adopt Bitcoin and that the US will ban it while Russia and China embrace the new technology. Sure, Max Kaiser is financed by the kremel...

What does he talk these days about Bitcoin and the US?

It is not forbidden but practically it is forbidden to use it there.
http://en.wikipedia.org/wiki/Bitcoin#Legal_status_and_regulation

Hm but China or Russia are traditionally not the most innovative countries :)

I dont think it will impact bitcoin a great deal if China or Russia bans Bitcoin. The great thing about bitcoin is that banks or governments can't control it. They maybe could limit the the ease of use of it by blocking sites from there country.. but we all no theres ways to get around that. China has already tried to intimidate the bitcoin market by threats of banning it, but it hardly damaged the price. Plus its much more beneficial if they embrassed it. Bitcoin is open source and the people currency, as long as the majority want it there it will always be.

BTC The Future!