If you couldnt buy or sell BTC, what would you do with them?

[shawshankinmate37927]

You know if its ever made illegal.

How would making it illegal to buy or sell bitcoins prevent it from happening?  That approach hasn't worked too well with buying or selling drugs.

Not even a smart comparison.  Drugs are addictive.  No one has a need for Bitcoins.  Add to that, as long as fiat is easier and more practical to use, it will always dominate because people are lazy and will use what is most convenient.  Bitcoins are anything but convenient and easy to use.  

Yes, drugs are addictive, but if making them illegal made them go away, one wouldn't be able to use them in the first place to become addicted.

The world actually has an enormous need for something like Bitcoin.  Especially for those individuals that choose to live below their means and want to protect their savings from bankers and politicians.

[Coinseeker]

You know if its ever made illegal.

How would making it illegal to buy or sell bitcoins prevent it from happening?  That approach hasn't worked too well with buying or selling drugs.

Not even a smart comparison.  Drugs are addictive.  No one has a need for Bitcoins.  Add to that, as long as fiat is easier and more practical to use, it will always dominate because people are lazy and will use what is most convenient.  Bitcoins are anything but convenient and easy to use.  

Yes, drugs are addictive, but if making them illegal made them go away, one wouldn't be able to use them in the first place to become addicted.

The world actually has an enormous need for something like Bitcoin.  Especially for those individuals that choose to live below their means and want to protect their savings from bankers and politicians.

"Enormous need"?  Maybe.  Certainly one opinion but to go back to your original point, it's better said, that making drugs illegal did not make the addiction go away.  One who's addicted, will do anything to get it.  The law is irrelevant and that's what we've seen.  There will never be such addiction to Bitcoin, thus making them illegal would pretty much end Bitcoin, with the exception of minor black market uses, because there are other forms of currency that people could readily use.  Why risk jail time when there are legal alternatives, that at present, are easier to use?  

To answer the OP question:  I'd sell them off as fast as I could, to the highest bidder.

[shawshankinmate37927]

You know if its ever made illegal.

How would making it illegal to buy or sell bitcoins prevent it from happening?  That approach hasn't worked too well with buying or selling drugs.

Not even a smart comparison.  Drugs are addictive.  No one has a need for Bitcoins.  Add to that, as long as fiat is easier and more practical to use, it will always dominate because people are lazy and will use what is most convenient.  Bitcoins are anything but convenient and easy to use.  

Yes, drugs are addictive, but if making them illegal made them go away, one wouldn't be able to use them in the first place to become addicted.

The world actually has an enormous need for something like Bitcoin.  Especially for those individuals that choose to live below their means and want to protect their savings from bankers and politicians.

"Enormous need"?  Maybe.  Certainly one opinion but to go back to your original point, it's better said, that making drugs illegal did not make the addiction go away.  One who's addicted, will do anything to get it.  The law is irrelevant and that's what we've seen.  There will never be such addiction to Bitcoin, thus making them illegal would pretty much end Bitcoin, with the exception of minor black market uses, because there are other forms of currency that people could readily use.  Why risk jail time when there are legal alternatives, that at present, are easier to use?  

To answer the OP question:  I'd sell them off as fast as I could, to the highest bidder.

Yes, "enormous need".  That will become very apparent as fiat currencies continue to be debased.  See this thread for many of the other advantages that Bitcoin has over fiat:

https://bitcointalk.org/index.php?topic=206328.0

Yes, it's also true that making drugs illegal doesn't make drug addiction go away.  But, suppose drug addicts were exempt from such laws and politicians decided to actually provide them with free drugs until they were able to kick their habit.  Drugs would still be bought by and sold to individuals willing to experiment, wanting to self-medicate, or for recreational use.  The point is making something illegal doesn't make it go away, no matter what it is--Bitcoin included.

If bitcoins were made illegal in the US, I would take advantage of the ensuing price dip and convert as much fiat as I could to sound, honest money and then try to escape to a jurisdiction that doesn't outlaw it.

[cosurgi]

I'd move to Berlin.

not Berlin, but that other city in Germany.

[QuestionAuthority]

I'd move to Berlin.

not Berlin, but that other city in Germany.

Frankfurt/rhein main? You know that there's more than just one major city in Deutschland, right?

[Coinseeker]

Yes, "enormous need".  That will become very apparent as fiat currencies continue to be debased.  See this thread for many of the other advantages that Bitcoin has over fiat:

https://bitcointalk.org/index.php?topic=206328.0

Yes, it's also true that making drugs illegal doesn't make drug addiction go away.  But, suppose drug addicts were exempt from such laws and politicians decided to actually provide them with free drugs until they were able to kick their habit.  Drugs would still be bought by and sold to individuals willing to experiment, wanting to self-medicate, or for recreational use.  The point is making something illegal doesn't make it go away, no matter what it is--Bitcoin included.

If bitcoins were made illegal in the US, I would take advantage of the ensuing price dip and convert as much fiat as I could to sound, honest money and then try to escape to a jurisdiction that doesn't outlaw it.

Just to be clear, I wasen't trying to minimalize the benefits of Bitcoin or crypto in general.  Just merely trying to stay focused on the context of the conversation.  That said, I agree...Bitcoin will not go away just because it's illegal but I disagree that it's relevence would be similar to drugs, simply because of drugs dependent nature.  Weed excluded of course.  

My view is simply that making Bitcoins illegal, would stop mass adoption dead and thus that severely cripples Bitcoin for anything but illegal uses.  Look at the Bitcoin ATM's.  There could be hundreds if not thousands of them, if it wasn't for FinCEN regulations.  That simple example of making an ATM illegal, without proper compliance shows just how fast laws directly against Bitcoin, can shut things down.  

On a side note, I'd like to see the "war on drugs" ended and take the drugs off the streets, by moving them online much like Silk Road.  I don't support hard drug use but then again, I don't support alcoholism either.    But I do believe if you're old enough to die for your country, you're old enough to determine for yourself, what you put into your body.  The USG has tried and failed and it's time to accept defeat and try something new.  Preferably something that doesn't cost billions in tax dollars and imprison thousands of non-violent offenders.  /end rant

[wachtwoord]

Hold

Haha you understand things 

There are 3 things you can do: buy, sell and hold. Out of those three things, if you cannot buy or sell, which would you do? 

[LostDutchman]

You know if its ever made illegal.

Continue to mine and trade the results to people for stuff I could sell for cash.

My $.02.

[Stampbit]

Oh i really meant what would you do with them when they are made illegal and the value plunges to 0. I was thinking maybe trading it for everquest gold since they would be both extinct forms of money.

[raze]

Oh i really meant what would you do with them when they are made illegal and the value plunges to 0. I was thinking maybe trading it for everquest gold since they would be both extinct forms of money.

I don't think the value would ever go down to zero. Even if all the exchanges shut down and there were no more services using Bitcoins, they'd still be used as barter by a minority of people, especially in countries which hadn't outlawed them.

[bitcryptonit]

i think they cant simply outlaw bitcoin because that would mean also forcing sites like facebook to get rid of they coins and many more companies which is impossible imo. The only thing they can do is to make our life hard to buy or sell bitcoins for fiat which will be enough to slow down bitcoin adoption for years. But i dont think they can do it forever.