What would happen if BTC was Banned?

[madwica]

I think it depends on the user, if they are loyal certainly will have no effect, this time my country also banned bitcoin so I used the exchanger from abroad to buy and sell bitcoin.

Correct there is an option for a users if they want to continue collect bitcoin or they stop it. But be careful because if you got cought you will be on jail. Me i am lucky that bitcoin is not banned in our country we can used this currency anywhere we want.

[1714991654]

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[1714991654]

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[Farma]

I think it depends on the user, if they are loyal certainly will have no effect, this time my country also banned bitcoin so I used the exchanger from abroad to buy and sell bitcoin.

Correct there is an option for a users if they want to continue collect bitcoin or they stop it. But be careful because if you got cought you will be on jail. Me i am lucky that bitcoin is not banned in our country we can used this currency anywhere we want.

it is indeed a risk if bitcoin banned in the country. I am also grateful, because in my country, bitcoin is not banned. it allows me to look for bitcoin, because when bitcoin banned, it may be very difficult to make money from the internet again.

[krisnt80]

Bitcoin is considered as ilegal, even with a lot people using it, the fact is that if a country recognize bitcoin as currencie they are saying a decentralized currencie is better then the current fiat system, and i doubt they wanna to loose space to crypto currencies, that are getting more and more popular.

[Rostadom]

Bitcoin is considered as ilegal, even with a lot people using it, the fact is that if a country recognize bitcoin as currencie they are saying a decentralized currencie is better then the current fiat system, and i doubt they wanna to loose space to crypto currencies, that are getting more and more popular.

Bitcoin is considered illegal where? It's just an unregulated currency and even if they consider bitcoin as illegal, there will even be more unregulated currencies out there since anyone can create their own currency. Here's a proof that it is really happening today: Venezuelan Currency Slowly Getting Replaced By Pepe Memes

Accepting bitcoin as a legal payment doesn't mean that the government acknowledge that bitcoin is better. Because if so, accepting Korean Won or Chinese Yuan in the United States would mean that people of dollars are acknowledging Korea and China's currency is better than theirs which obviously is not the case.

[megynacuna]

It can only be banned if it is centralized, all the rest are empty talks and I hope it remains decentralized and don't succumb to any governmental pressures. I'm positive but if it ever gets banned then I will travel to another country where I can spend them when I need to spend them.

[bagikoin]

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?

will many people dissapear their job , many people in the round use bitcoin for the job .. so will be sad if bitcoin is banned.. but i think is never happened 

[Janation]

It can only be banned if it is centralized, all the rest are empty talks and I hope it remains decentralized and don't succumb to any governmental pressures. I'm positive but if it ever gets banned then I will travel to another country where I can spend them when I need to spend them.

If it is centralized,  then there will be a lot of people who will be in the jail now making use of bitcoin and it transactions into illegal activifies. When it is centralized, the government will take the main light and will be making the decisions, running the bitcoin network in their hands. If bitcoin is banned many users will be back to their normal and boring life in the offices stapling some documents and will forget bitcoin.

[wxa7115]

I think that will not happen, because there are too many people interested in BTC

Bitcoin has a great market cap but the amount of users of bitcoin seems to be relatively low some speculate that we are in the 1 to 2 million range which is not really a lot of people compared to the usage that the most popular national currencies have.

[manselr]

If Donald Trump tweeted that bitcoin is banned then no doubt the price would tank badly... that's the reality of things here.

Of course it would eventually recover, so shorts would make a lot of money on the way down then on the way up.

[dothebeats]

If any government plans on banning bitcoin within their jurisdiction, I don't think that it would really be that effective since people would still find ways to utilize bitcoin and freely use it even though the government restricts it. Forcing something to the public isn't something that people would gladly accept. Bitcoin will still flourish even with restrictions.

[grandy]

Bitcoin is considered as ilegal, even with a lot people using it, the fact is that if a country recognize bitcoin as currencie they are saying a decentralized currencie is better then the current fiat system, and i doubt they wanna to loose space to crypto currencies, that are getting more and more popular.

Bitcoin is considered illegal where? It's just an unregulated currency and even if they consider bitcoin as illegal, there will even be more unregulated currencies out there since anyone can create their own currency. Here's a proof that it is really happening today: Venezuelan Currency Slowly Getting Replaced By Pepe Memes

Accepting bitcoin as a legal payment doesn't mean that the government acknowledge that bitcoin is better. Because if so, accepting Korean Won or Chinese Yuan in the United States would mean that people of dollars are acknowledging Korea and China's currency is better than theirs which obviously is not the case.

in fact the interest of the people is changing from time to time. and we can see that the interest of the people is now in online buying ans selling, and the government have to accept the fact, therefore they will start thinking about bit or at least to start their own crypto currency.

[bncbnc]

Bitcoin is considered as ilegal, even with a lot people using it, the fact is that if a country recognize bitcoin as currencie they are saying a decentralized currencie is better then the current fiat system, and i doubt they wanna to loose space to crypto currencies, that are getting more and more popular.

Bitcoin is considered illegal where? It's just an unregulated currency and even if they consider bitcoin as illegal, there will even be more unregulated currencies out there since anyone can create their own currency. Here's a proof that it is really happening today: Venezuelan Currency Slowly Getting Replaced By Pepe Memes

Accepting bitcoin as a legal payment doesn't mean that the government acknowledge that bitcoin is better. Because if so, accepting Korean Won or Chinese Yuan in the United States would mean that people of dollars are acknowledging Korea and China's currency is better than theirs which obviously is not the case.

in fact the interest of the people is changing from time to time. and we can see that the interest of the people is now in online buying ans selling, and the government have to accept the fact, therefore they will start thinking about bit or at least to start their own crypto currency.

yes that can be correct and that can be the reason which will compel the government to accept bitcoin as legal currency. but i think still there a lot of time for that to consider bitcoin as legal currency.

[klf]

Bitcoin is considered as ilegal, even with a lot people using it, the fact is that if a country recognize bitcoin as currencie they are saying a decentralized currencie is better then the current fiat system, and i doubt they wanna to loose space to crypto currencies, that are getting more and more popular.

Bitcoin is considered illegal where? It's just an unregulated currency and even if they consider bitcoin as illegal, there will even be more unregulated currencies out there since anyone can create their own currency. Here's a proof that it is really happening today: Venezuelan Currency Slowly Getting Replaced By Pepe Memes

Accepting bitcoin as a legal payment doesn't mean that the government acknowledge that bitcoin is better. Because if so, accepting Korean Won or Chinese Yuan in the United States would mean that people of dollars are acknowledging Korea and China's currency is better than theirs which obviously is not the case.

in fact the interest of the people is changing from time to time. and we can see that the interest of the people is now in online buying ans selling, and the government have to accept the fact, therefore they will start thinking about bit or at least to start their own crypto currency.

As of now, governments don't know how to track all these bitcoin transactions it may be difficult for them to regulate it. But if they find ways to regulate it then they may consider. I heard that last week someone has proposed to ban bitcoins in India. But not sure what happened to that news.

[Mvaporis1961]

Of course there are many people like us who will fight against the government if they did that and banned bitcoin totally.There are many people who is earning their living in bitcoins alone and it will be a big lost for them if world government will banned and declare bitcoins as illegal.If they will do it so many people will go against the world government.

[Genesis1337]

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?

I personally believe there would be a lot of demand if btc was banned. So i definitely think price would sky rocket if bitcoin was banned in any country.

[fuckitall]

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 hardly matters even if the government declares the BTC to be illegal..BTC is still being used for many unethical trading..And the government authorities can't even track them so easily. If some high authority personnels are going to ban it then they will surely be hampering theri own economic growth...The revolution of digital currency is a step that i think every nation shall adopt for economically better future....Ad let me tell you the truth nobody cares if btc get banned..people like us still gonna use it 

[Dorky]

Bitcoin will not be banned.

Bitcoin is the phoenix currency that The Economist magazine touted.
And I don't think there will be a replacement because that would shake the public's confidence and affect any kind of adoption negatively.

[Fatanut]

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 hardly matters even if the government declares the BTC to be illegal..BTC is still being used for many unethical trading..And the government authorities can't even track them so easily. If some high authority personnels are going to ban it then they will surely be hampering theri own economic growth...The revolution of digital currency is a step that i think every nation shall adopt for economically better future....Ad let me tell you the truth nobody cares if btc get banned..people like us still gonna use it 

Well, thinking how there's 7 billion people and there's just more or less one million bitcoin users, "nobody" is an appropriate term to say. We're nobody at all in the eyes of the government. We're just a small percentage of the population. They don't have to worry about us at all. How can we do much damage to them anyway.

Banning the use of cryptocurrencies and then issuing one centralized cryptocurrency might be the next step of the government. If they don't ban bitcoins, people will just use it instead of the centralized one since they are already knowledgeable about cryptocurrencies. One huge reason for them to have their own digital currency and then ditching all paper money is to have full access to what we are doing with out money. They can finally monitor us the way they want to.

[soul-impact]

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 hardly matters even if the government declares the BTC to be illegal..BTC is still being used for many unethical trading..And the government authorities can't even track them so easily. If some high authority personnels are going to ban it then they will surely be hampering theri own economic growth...The revolution of digital currency is a step that i think every nation shall adopt for economically better future....Ad let me tell you the truth nobody cares if btc get banned..people like us still gonna use it 

Well, thinking how there's 7 billion people and there's just more or less one million bitcoin users, "nobody" is an appropriate term to say. We're nobody at all in the eyes of the government. We're just a small percentage of the population. They don't have to worry about us at all. How can we do much damage to them anyway.

Banning the use of cryptocurrencies and then issuing one centralized cryptocurrency might be the next step of the government. If they don't ban bitcoins, people will just use it instead of the centralized one since they are already knowledgeable about cryptocurrencies. One huge reason for them to have their own digital currency and then ditching all paper money is to have full access to what we are doing with out money. They can finally monitor us the way they want to.

We can think of simply, only those who have the passion and love of technology as we know and use bitcoin. That is for sure, and most of us are young people, we are dynamic, so we go further in everything. For many people, bitcoin is a bad thing, but for us it is a gift of technology. The government does not prohibit bitcoin, and they do not allow it as a legitimate thing. It is completely free. Only a few countries have legalized bitcoin. But anyway that is a good thing for all of us and good for the government.

[Pettuh4]

Well if Bitcoin ever get banned which I doubt strongly it will create opportunity for the underworld and dark world Internet users to take advantage of its demand and make a lot of money by being underground merchants.