What would happen if BTC was Banned?

[Rossy Akbar]

As long as my account hasn't block or hack yet, I will continue to use it. No matter how risk it will be, anyway if they know my account, I will wait for them to catch me, and I think is not so easy because it was anonymous. So keep fight when is it happens and I think it's doesn't matter if you use bitcoin as a good way. No one will an arrest you.

[1715455620]

1715455620

[1715455620]

1715455620

[Afnan_faizah]

I think people will continue to invest in bitcoin and they will not stop using bitcoin, even if the government banned bitcoin. They don't care what government decision and people get disappoint to the  government.. Its so possible also that some country will banned the bitcoin, because it may helps the economy and gives chance to the people to earn this is because of to help the poverty. Government wont declared illegal because there are some benefits and opportunity in bitcoin it.

Yes, bitcoin is freedom. Anyone who has access to internet are have chance to own bitcoin. Bitcoin rellied above $6000 again after its price fall because of the bitcoin baning by china's government. Global news are very influencing the bitcoin prices because it can make investors afraid then sell their bitcoin, but it seems that the effect is just temporary. People are smarter, they even wait to buy bitcoin in low price, because bitcoin is nice invesment and good currency.

[teejayrichard2]

I don't even want to think about it because it will have a drastic effect on people.

[googs84]

This is a completely hypothetical question, things like this never happens  It is true that countries like China, Indonesia, Korea, Vietnam have partially or fully put-up a ban on bitcoin for some reasons. but still there are many countries welcoming bitcoin currencies in their economies. Evan African countries are nor behind in this movement. Bitcoin is a digital, decentralised  currency, it is quiet difficult for any country to stop all the transactions of bitcoin. for that they have to ban number of websites which is not in their power. When china banned bitcoin it dropped below $4000, today bitcoin is $7210...!!!
So ban on any popular currency helps that currency to grow faster.

[Sithara007]

This is a completely hypothetical question, things like this never happens  It is true that countries like China, Indonesia, Korea, Vietnam have partially or fully put-up a ban on bitcoin for some reasons. but still there are many countries welcoming bitcoin currencies in their economies. Evan African countries are nor behind in this movement. Bitcoin is a digital, decentralised  currency, it is quiet difficult for any country to stop all the transactions of bitcoin. for that they have to ban number of websites which is not in their power. When china banned bitcoin it dropped below $4000, today bitcoin is $7210...!!!
So ban on any popular currency helps that currency to grow faster.

You are wrong about China, Korea.etc. Bitcoin is not banned in any of these nations. For details, please refer this:

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Authorities in South Korea have even said that they plan to regulate Bitcoin (and the other crypto-currencies) in the future. In Indonesia, Bitcoin is in the grey zone. It is neither legal, nor illegal. But I can give you a list of countries where BTC is illegal - Bangladesh, Kyrgyzstan, Vietnam, Nepal, Ecuador.etc

[cutecute]

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 think that when all the governments in the world declared bitcoin to be illegal there are so many people that will not let this happen because some of us are depending on it so that we can supply the needs of our family. I think that community would react and it may result that many of us will be hate the government. The possible solution is that many of us are find a way to build again this so that we still have it.

[AmXProX]

It is impossible for all of the countries government to ban the use of bitcoin,
it will not have any basis for them to do that. What government might do is
to declare crypto currency mining as illegal. Once the mining stops crypto
currency will eventually die because transactions won't be confirmed anymore.

[damnek]

As long as my account hasn't block or hack yet, I will continue to use it. No matter how risk it will be, anyway if they know my account, I will wait for them to catch me, and I think is not so easy because it was anonymous. So keep fight when is it happens and I think it's doesn't matter if you use bitcoin as a good way. No one will an arrest you.

The forbidding of bitcoins is much the same as the completing of the oxygen on the earth since now a days the bitcoins is commonly to the point that all the jobless individuals are presently acquiring enough cash simply like rich individuals and it's a direct result of the bitcoins so of the bitcoins is done then billions of individuals will be jobless and after that they will carry on with the life of destitute individuals' that is the reason nobody can even picture that the bitcoins will be boycott. Since no can boycott bitcoin

[Canday]

It might just be so harmful to the bitcoin right now but the truth is additionally that we can't forecast this and I think that it is not happening in the most nation so that is positive.

[Frowleall]

Its difficult to say what's going to occur with it if this occur but I think that we're not able to say it will appear reduced since the most of us will most likely remain utilizing is it simply because you can do it a sort of anonymously right ?

[fateh1313]

if bitcoin banned by all countries than also it will be in use by the people but now its not possible many countries excepted it as legal currency so this question should not Aries now

[Feri577]

Bitcoin can not be banned permanently and totally. That is a fact, there will always be places where bitcoin will be completely legal.
If bitcoin gets banned in one country then use bitcoin exchange in another country to exchange bitcoin does not mean someone can know that, you have put bitcoin on your machine.
I appreciate your efforts (albeit very naive and idealistic) that mining "only uses distributed computer networks to get bitcoins.

[joebrook]

I think there are no problems if all countries in the world ban BTC. Because the value of Bitcoin is not made by Government. BTC with its advantages has own value, and many people in the world accept it. 

In the event of a global bitcoin ban, the value is going to drop so low because investors are going to panic when that happens and they will start selling their bitcoins so that they don't lose even more money.

[Cryptoniann]

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'm not sure what do you mean by "banning" , If you mean become illegal to use then I think people will simply don't care because they can't be tracked or at least it will be hard to do and they will keep using it (I know I will) .
If you mean that they will make it impossible to use then I don't think it's possible to do unless they shutdown the whole internet which they won't of course .
So whatever they do I guess the bitcoin community will just continue to use Bitcoins .

Hey, what if they restrain it with so many regulations, make it illegal to keep btc without their knowledge, make you pay taxes on it, etc? This is the most logical route, as they would then profit off us. What about then? BTC would go down due to FUD, then continue going up? Besides, how would you hide your btc, if those regulations come? Thanks.

[yoseph]

Bitcoin can not be banned permanently and totally. That is a fact, there will always be places where bitcoin will be completely legal.
If bitcoin gets banned in one country then use bitcoin exchange in another country to exchange bitcoin does not mean someone can know that, you have put bitcoin on your machine.
I appreciate your efforts (albeit very naive and idealistic) that mining "only uses distributed computer networks to get bitcoins.

I totally agree with that, with most governments regulating the use of bitcoins in the country and making people accept bitcoins as a mode of payment and gaining from the taxes wfrom the transaction of bitcoins,  I think it will be highly difficult for the government to ban bitcoins and risk all the money they may get from bitcoins which is a lot.

[BaeNaNa]

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?

There's a lot of countries in the world and i don't think they will all agree to one decision to ban bitcoin because they have leader with different vision. Bitcoin can be banned in some countries but there will be other countries where bitcoin can be used legally, there's no way they can ban bitcoin completely.

[wledgewil]

If BTC is banned all the rich investors in bitcoin really faces the huge sigh.
Even many might invested their entire earnings in bitcoin.
But iam pretty sure that will never happen reason why Billgates spoke about bitcoin even many CEO's spoke about bitcoin, i feel they are well knowledgeable in experiencing it. so that was the real inspiration, so lets rock with Bitcoin.

[medha2009]

I think Bitcoin can not be permanently and completely banned because many people in the world are now making it as a digital currency. A true, bitcoin will always be the place where it will be fully legal.
If Bitcoin imposes restrictions on one country, then the exchange is used to make currency in other countries.

[Peashooter]

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?

If the government will banned bitcoin it will probably die because no one would invest and no one would try to used it. In addition to that, I think many bitcoin users will get very sad because bitcoin is one of thing that helps them to gain some income. I hope it would not happen because it has negative effect in bitcoin community and industry.

[TeamIeaderisme]

If bitcoin will banned, certainly all bitcoin customers will all of a sudden getsdisappointed. Because bitcoin gives an extra income to users, as thisbrings more advantages to users. This provides also an less trouble,conserve time and effort by using bitcoin as payment. Therefore, morebitcoin users will be disappointed.