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Author Topic: What if Bitcoin is made illegal? We must reject the illuminati takeover !  (Read 9837 times)
boliu
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December 10, 2015, 04:32:33 PM
 #21

once it's illegal, it will sky rocket like everything that is banned or it's illegal.

I hope it does.

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December 10, 2015, 08:04:04 PM
 #22

Bitcoin cannot be made illegal, it is decentralized which means no one party can control it.
You would have to go into every miners house and remove their mining equipment to stop Bitcoin.
No, not really. There are some ways to block bitcoin quite efficiently. While bitcoin has no central authority that is not a problem for governments to take action against it.
We have seen already tests of mass blocking every bitcoin service in some countries, Venezuela conducted that tests recently and everybody was in shock.

Bitcoin p2p trading can't be blocked, but almost every bitcoin related services can.

Which is why people should always learn to use their own wallets and stop relying on web wallets no matter how convenient they might be. When online services are blocked, you still have some options to use and trade BTC if you have access to your own private keys. They can even try to block port 8333 but you can still use a client through TOR.

Yup they are pretty much powerless against a peer-peer network.
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December 10, 2015, 10:16:13 PM
 #23

once it's illegal, it will sky rocket like everything that is banned or it's illegal.

I hope it does.

not sure if it will sky rocket, more like it will sink to the bottom.
because who would want a currency that you cant exchange for legal
money. plus not every illegal thing has a high price. but when bitcoin
became illegal its done.


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December 10, 2015, 10:54:43 PM
 #24

but now its too far. People realised that have alternative for money and even if bitcoin fail, something new appear

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December 19, 2015, 07:32:23 AM
 #25

Russia may be a test ground for what could really happen in a country if cryptocurrencies are made illegal.
http://www.coindesk.com/russian-minister-confirms-plans-to-ban-bitcoin-to-fiat-conversions/

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December 22, 2015, 09:01:19 AM
 #26

Why would you want  to change Bitcoin for fiat currency? The whole point of Bitcoin is that the devaluing fiat currencies are no longer required.

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December 22, 2015, 09:08:37 AM
 #27

Why would you want  to change Bitcoin for fiat currency? The whole point of Bitcoin is that the devaluing fiat currencies are no longer required.
Yes but there are many people who are into it for gain/profit and an easy example would be traders ,they trade and make some extra coins/money and what is the point of doing it if they don't cash them out ?
investors in altcoins also fall in the same criteria.

If bitcoin is made illegal then we cannot use it ,No thermos won't even get an appointment to meet the president's and to discuss anything loll.
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January 21, 2016, 07:32:16 PM
 #28

Why would you want  to change Bitcoin for fiat currency? The whole point of Bitcoin is that the devaluing fiat currencies are no longer required.

In the future, we will be paid in bitcoin, we buy things with bitcoin. We pay tax with bitcoin. There is no need for other fiat.
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January 21, 2016, 07:46:12 PM
 #29

Bitcoin cannot be made illegal, it is decentralized which means no one party can control it.
You would have to go into every miners house and remove their mining equipment to stop Bitcoin.
Uh, yes it can definitely be made illegal--the same way child pornography and drugs and all that other stuff that bitcoin can buy is already illegal.  Mostly globally, too.  That doesn't mean people will stop using bitcoin of course, just like they won't stop using the two things I mentioned either.  It will just be illegal.  Just like it's illegal to print your own money.
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January 21, 2016, 07:47:13 PM
 #30

I'm sure governments could try to make them "illegal" but it would be like making alcohol illegal in the 1920's. Bitcoins are totally anonymous so it would also be really difficult(if not impossible) to create top-down government laws for bitcoin and the bitcoin coding is open source so bitcoins can always just be renamed if all else fails

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January 22, 2016, 07:06:57 PM
 #31

The Chinese government is going to make a digital coin. Let see what it will be. It might affect the adoption of bitcoin.
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January 26, 2016, 04:44:35 AM
 #32

If the government says that Bitcoin is illegal, we as the citizen of that country could not say anything about it, we may protest, but it wouldn't be effective unless we have the majority on our side.

Bitcoin is being used for illegal activities..
but so does fiat..

That one will not become the reason as to why bitcoin will be considered illegal
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January 29, 2016, 04:35:01 PM
 #33

If the government says that Bitcoin is illegal, we as the citizen of that country could not say anything about it, we may protest, but it wouldn't be effective unless we have the majority on our side.

Bitcoin is being used for illegal activities..
but so does fiat..

That one will not become the reason as to why bitcoin will be considered illegal

If the bitcoin succeeds in other countries and benefit the people in other countries, I think the attitude of the governors in your country will also change.
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January 29, 2016, 06:30:12 PM
 #34

Well they won't. It's too complex to be declared illegal to be honest. The amount of users depending on BTC are too high to ask them to roll back.

Governments have much more serious issues at hand. Let them handle those first...

However should this event really happen, the prices will obviously deflate to almost 0 I guess.
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January 29, 2016, 09:52:52 PM
 #35

As long as no one owns the internet privately, they can't make bitcoin illegal. Besides, how can they make it illegal? They don't have power over it like with banks. That's the great part about bitcoin. It's freedom.

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February 01, 2016, 03:19:51 AM
 #36

If bitcoin was ever made illegal then it would be time to move on to one of the 300+ other crypto coins out their. Even if it got made illegal people would still use it and places where bitcoin is banned people still use so I doubt much would actually happen other than corporate business would stop using and forced to look at other alternative crypro and move away. Would be a sad day if it really happened but cant control governments decision in making it illegal.

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February 01, 2016, 10:36:51 AM
 #37

Bitcoin is just a property or goods. People can buy or sell it. There is no reason to declare it a illegal thing.
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February 01, 2016, 10:43:38 AM
 #38

Legality only effects those who choose to listen to the law of their land.

I think regardless of Bitcoins legality status it will be used. As for the illuminati garbage, I don't think it's going to have a toll on BTC.
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February 01, 2016, 09:48:29 PM
 #39

Leaving aside the illuminati nonsense, I don't see why bitcoin should be made illegal. And if some countries should decide to ban it others won't. And internet will be free. At least I hope it will remain that way.

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February 10, 2016, 08:09:35 PM
 #40

Bitcoin isn't illegal  guys because this is just a prosperty we can buy or sell st this is legal  Smiley Smiley

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