What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
People will continue to trade, only in the shade. What gives a small profit can never be crushed by anything, will find ways to solve this problem. They will not completely disconnect the Internet or crawl into users' computers, even traffic is difficult to track. That's going to be hard for us and if people will continue to trade then we will surely not gonna see the same volume like we are having today. Bitcoin is popular now because of it's usefulness but when the government will declare it's illegal to use it then it's not safe for us anymore and we will make sure we will not gonna make problem and be in jail so probably we will have no choice but to stop. banning the use of bitcoin will not interfere with the use of bitcoin dude? even if your country forbids the bitcoin in circulation but you can still use bitcoin secretly because the bitcoin system supports it, but the effect of prohibiting the use of bitcoin will certainly feel like just few outsiders interested in bitcoin, less trust in bitcoin, etc |
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what make bitcoin better and incomparable to the other cryptocoins ?
bitcoin is better becuase its the first and original coin and some coins are just a copy paste, the value of bitcoin is much higher compared to other coins and more people using bitcoins. although bitcoin has still some disadvantages like higher transaction fees. Its first of its kind, bitcoin is more popular then any other alt, and all casinos are bitcoin casinos that accepts other alts. When ever I see something about transaction fees I need to quote and support that, fees are incredibly high and I wonder will we ever see normal fees again, like in beginning low transactions fees, cheaper then banks. I'm telling that most of us have problem with high fees, not all of us are rich and high rollers. Bitcoin is better then other alts, and even with high fees bitcoin doesn't lose popularity. Other alts are here just to earn more bitcoins with them if you know how. yeah thats right, i think although altcoin will come a more sophisticated though it will not make bitcoin lose prestige dude, because it's true what you say that most users use altcoin just to add and earn extra income in bitcoin like trading or altcoin investment, bitcoin will remain the mother of all cryptocurrency and I will always use bitcoin for main cryptocurrency |
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Bitcoin obviously has a lot of different properties than gold, and is in many ways better than gold.
Or, at the very least, you could say it's similar to gold (in terms of value).
Perhaps someday, in the not so distant future, people will be happy to get a few mBTC to store their family's wealth.
Is it true ? I think people are still more confident in gold. although its use is still less efficient than bitcoin. gold is one very good asset to store wealth, even the government also better suggest gold. I don't see the need for the comparisons here, they both have their pros and cons and Bitcoin is slightly having an edge because it's an online currency and can do more than gold but gold is tangible and can be safely kept than bitcoins which need internet before you can access them I think it is fair that we compare them, gold has been the point of reference for a lot of time and now bitcoin wants to be the new point of reference when it comes to currencies so unless we can compare them then we will not know if bitcoin is better than gold, and it is clear that since I’m on this forum I think bitcoin is better than gold. I think it would be fair to compare bitcoin and gold on the investment side instead of currency or other, in terms of bitcoin and gold investments beat each other, many people argue that bitcoin is better because it is more profitable in the short term, on the other hand people also argue gold is better because it's safer, everyone's investment appetite is different so the best of course is different in everyone's view |
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Bitcointalk username: Mornabo
Wheel99 username: mornabo
Forum rank: Hero Member
Post count: 1030
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What do you guys think it would happen if all the governments in the world declared bitcoin to be illegal?
How do you think the community would react? What could be the possible solutions?
It is impossible for bitcoins to be illegal. Why? Simply because many people or even organizations depend and earn from here. Also the government will benefit from here. Yet the good things is if this will be illegal the value of it will increased and get higher. lol I think the government is very likely to ban the use of bitcoin, of course the government has a lot of smart people and they would certainly consider it mature, if bitcoin has a bad influence of course they will ban the bitcoin indiscriminately |
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What are the chances of living in a world with no actual money ?  no way, How can it be disappear? its imposible cryptocurrency make real money disappear. we're all know, real money or Fiat currencies are legal tender, that is to say currencies established as money by government regulation or law. but cryptocurrency !! There are just too many issues with it. So there is no legal obligation as such however to accept the results of a cryptocurrency operations. To change this situation requires massive legal changes. It can't make real money disappear. The real money is in service for long time and all of the people do their shopping and other needs with real fiat money. But bitcoin is very below of fiat money because of that the adoption is in low level now. In someday, if Bitcoin can use for purchase anything: food, smartphone, house, car, service ... as your said, do you think Bitcoin can make FIAT disappear? Of course is impossible, because FIAT is a payment method do not easy replaced by anything with simple reason. with cheap transaction fee notes, although bitcoin is accepted everywhere and you can spend bitcoin anywhere like buying food, drinks, smartphones, taxes, etc. all would be useless if transaction fees in bitcoin are still very expensive |
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Well my plans are quite simple, will invest a portion of it in other alternate currency, the other i will cash out  Even I will plan same because if we have the knowledge about trading then it is a wise decision to buy other altcoin coins which will give us more profit in future. I will divert my 70% of Bitcoin buying other alternate currency. Nice to hear that . so for now im still a new here and im earning bitcoin but i have a plans for my bitcoin if i earn a lot of bitcoin i will help my family to pay our bills and debts and i want to buy a laptop to use this bitcoin much better and very well. I think it is a goal not a plan lol. you have to draw up a plan to reach your wishes. for example making a business related to bitcoin like making gambling sites, exchanges, etc. and the profits you can get to meet your needs dude |
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I'll go for gold because the risk of failure is high in bitcoin rather than gold. Bitcoin is making a good outcome this year but it doesn't mean it will remain that way years from now, it's unpredictable we all know, unlike gold which has been in the market for a longest time, it has prove something which we should consider before investing
For you choosing gold above bitcoin , I guess you don't have the right to be here because you don't believe could change the world. Thought, bitcoin is volatile and that's what make most people rich through it. I think the views and tastes of each person are different is why there is a difference of opinion why people choose gold because it is safer and why people prefer bitcoin because it is more profitable because fluctuate. I think gold and bitcoin are a good investment you can use both |
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The stable price of bitcoin will not be of interest to me as to many of its owners. This will lead to its collapse, because it will become a simple e-currency without hope for a rich future.
no there will still be interest if the price is stable, it will be for a stable currency not controlled by any government of course even though bitcoin prices become stable though, there will still be bitcoin enthusiasts who will come and survive. after all even though the bitcoin price is stable even if you can still make a profit from investing in bitcoin, but it will be a bit long time to wait |
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Of course, it is. Bitcoin can improve the economy of one country. We know that bitcoin's value is so high, and simply, if you have a high currency on your country, you may buy anything what the country need. Just simple as that. It can also improve the economy by having an individual a chance to earn bitcoin and resulting on GNP. To increase the country's economy.
Bitcoin is such as an economy driver, so many bitcoin-realated companies were created, bitcoin also offer lower transactions fee and barrier for export sector. So bitcoin has been give positive impact for economy of the country. for financial problems bitcoin helps for financial users and it also gives impact to the country's economy. but bitcoin does not have much effect on the economy of the country, because the number of users is also still small |
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Are you a bitcoin fan? Do you spend a lot of time on bitcoin? Reading news, trading, or even writing your own analysis. But how did you first hear about bitcoin? Is it some articles you read about? Or just from a friend who has traded bitcoin for a long time? Share your experience with us.  I first heard bitcoin in my friend because my friend told me about bitcoin and how to earn bitcoin using trading,investing and also participating in campaign they said bitcoin is the only way that can change your life and also i believe in her my first earning in bitcoin is in the campaign. lol i think bitcoin is not the only way to change your life, but there are still other ways like getting a job in another thing. but to change your life from bitcoin is easier. btw I also heard bitcoin from my friend, he taught me how to business online |
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try to focus on bitcoin is the best thing, trying to get as much profit as possible for now through bitcoin, 100 years is not a short time all hope in bitcoin is always more advanced for the future and will still survive even better bitcoin later
ofcourse it will and it think it will be more popular and re known to the world after 100 year to till now. i think the future of it is really bright and i think the future is of internet and internet currency. the future of bitcoin is really bright as more or more people are investing in internet currency and we are hopping for its price to really shoot up and we hope it will I think seeing bitcoin is currently still developing and has not reached at the peak of his career I think bitcoin will have a long lifespan even longer than 100 years. maybe if bitcoin continues to use bitcoin maybe bitcoin will last forever |
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The price of bitcoin is sky-rocketed and has already made it to 4600$ reaching new heights. It anticipate it to be 5000$ in next few days if it continue to rise with this pace. And most possibly I seek it to be even more by end of this year.
There is definitely no doubt in it that the price of Bitcoin will keep on increasing and we will see the graph going up. Secondly, we will see the number of investors will increase with each passing day and might be a day will come when Bitcoin will be most popular business all over the world. There is no doubt that investors are increasing day by day. More people are now shifting to bitcoins even when they are investing into gold and other real estates. Bitcoins have left all other investments far behind in regard of producing grand incomes. People are really in love with working with bitcoins. of course, bitcoin continues to spread throughout the world and that keeps people coming in to use and invest in bitcoins. and of course along with the passage of time and growth of the user then the price will gradually rise until the future |
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Cash is will not give anything you back if you hold them longer but bitcoin does rise in value over the years.
That’s cool and indeed smart strategy. I myself am in favor of trading. Trading though needs hard work and sound knowledge but those who get command over trading; they definitely earn more than others. As far as fluctuations are concerned, they are mandatory for the survival of bitcoins and maintenance of their throne. where can we get command over trading? After all, now it's better to store bitcoins, because now we can use bitcoin to pay utility bills, buy certain items using bitcoin etc. so using bitcoin will be more practical and will save time to make payment because it can be done through online. I think because bitcoin is digital instead of cash that is why bitcoin is easier to use for payments with someone who has a long distance. but it looks like you will get punishment too by using bitcoin for payments such as very expensive fees for transactions |
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Paper money will not be vanished because paper money is very stable in the guard by the state government and paper money has its own use although there are many who already use debit cards, credit cards and other digital money such as bitcoin, there are some transactions that are handled with paper money and transactions that are handled with debit cards, credit cards and digital money.
Paper money will always be the main currency as a payment method in everyday transactions in real world
I don't agree with you. Paper money is a relic of the past. Now every year it reduces the circulation of paper money. I'm sure this trend will lead to the fact that paper money will completely disappear. The state is easier to control Bank money and illegal profits can hide in bitcoin. I think everyone actually already knows the future of paper money, they certainly can see the use of paper money continues to decrease and many more people use credit cards or debit cards to shop, I think that's a sign of the future of paper money |
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Is it better to save money in bank or invest it online, in real estate or maybe gold?
If you are new in this industry or your in the traditional business, of course much better to invest your money. So that we can easily roll it then once the profit comes we can compound it, then after a months we will noticed that our business will become grown quickly. Though savings was a good idea too. I still have plans to get rich from bitcoin would certainly prefer to invest rather than save. but that does not mean I'll use all my bitcoins to invest. of course it will be at risk right? I will only use mostly for investment and the rest to save |
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Nope, I highly doubt. Dollar is a currency and maybe the biggest. It's been used for a long period of time. Its value is more stable xompared to Bitcoin even if it's been used for years. Which is way different to Bitcoin because its market price changes from time to time. Also, Dollar has a physical value and Bitcoin doesn't have. It is not yet possible for Bitcoin to replace dollar, because it is not yet legal to most of the countries. Cryptocurrency will explode in value as individuals lose faith in the US dollar. I really do see bitcoin making it to $50,000 per BTC by the end of 2020 if this happens I think it is not impossible to see the number of bitcoin users is still relatively small but the price has reached $ 4000. maybe when the number of users covers the whole world the price could reach $ 50k. But it will not happen any time soon |
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This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing, it will become difficult to move coins around.
Miners would have make this high and there may be a strong part of whales in here. I think you are right, this will be a bad effect on the usage of bitcoins if only the transaction fees are going high. There should be an average fee rate for all the coins but what is trending, it is not good for bitcoin. I object to the transaction fee increase, if the higher it will appear minimal transaction patterns and will damage the passion of users who are accustomed to bitcoin transactions in small quantities. This is a serious problem that will happen when bitcoin is full mined and will bring a lot of game and speculation from the miners. I think it has made many users to be reluctant to make transactions using bitcoin. Of course users will increasingly rarely use bitcoin to spend because they see a very high fee from bitcoin. imagine it takes $ 1 for each transaction, it is very expensive |
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No, it's never too late to buy or get into bitcoin because it is still in the process of getting known. Only a small percentage of people are aware of what bitcoin is and a small percentage of that value bitcoin and are actually interested in getting or investing bitcoin because they see the potential in it, they see that it can do so much more and that through time it will be valued and be seen as good as cash.
I could argue that right now it's a bit too late to buy bitcoin. But it all depends on what you want out of it and what plans you have for the future are. It depends, if you think the price is going to keep stable for some time then it may be late to profit from this last rise in the price but since bitcoin is going to keep growing then we cannot say it is too late, the only issue is that the price of bitcoin is getting really high and if things do not change then we are going to get less and less bitcoin for our hard earned fiat which should tell to us to put money in bitcoin as soon as we can. I think for the long term the future bitcoin prices will continue to grow up. maybe you would think that the current price is very high and you think that this time is late. But you're wrong the price in the future will be much higher than today |
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If cryptocurrency is made into a thorough currency around the world I'm sure the bank will be scared because people would prefer to keep their own assets in their wallet crypto wallet, and if that happens the bank will not have customers that eventually make the bank go bankrupt
But you may think also that there are some banks that are using blockchain technology and we don't even know that some are secretly buying cryptocurrency or developing their own cryptocurrency to compete with bitcoin.Banks are present for a long time and even accumulated lots of money. I think the bank is under the supervision of the government. While almost all governments in the world still prohibit the use of bitcoin and it is unlikely banks will violate the regulations of the government and then receive bitcoin. banks will depend on the government |
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