What would happen if BTC was Banned?

[DoublerHunter]

if it is going to happen I will be very damaged, because the bitcoin I saved all this time will disappear, but I think it will not happen because in the future bitcoin will be very helpful in terms of trade.

Bitcoin will not be going to get banned in the market because bitcoin is a good currency and a lot of people know that, maybe bitcoin is not yet legalized but soon it will. Banning bitcoin is just for countries who are very strict and they don't want to have a decentralized kind of thing that they can't take a full control of it.

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[forbiddenone123]

I don't think that btc will be banned. Notice that when governments speak about bitcoin, or cryptocurrencies in general, it's not all bad. They see advantages but are cautious about adopting it because of volatility, and other reasons. In fact, one bank in my country has announced on national television that cryptocurrency use and growth is inevitable and that their bank is now involved in cryptocurrency use and exchange.

Do you think bitcoin will be banned for me I don't think so because government they cannot know what will the effect of bitcoin in our community and also they affecting our economy so badly but is not true because bitcoin gives a lot of effect to us in terms of investing and growing our profit to better future. there are some humor that bitcoin is more popular today but it is true.

[P60]

If bitcoin is banned, I may go bankrupt, thinking that most of myself are investing in virtual currency, so I do not want bitcoin to be banned.

If ever that Bitcoin will be banned, a lot of people will get disappointed and feel lost at the same time. As what you said, you may go bankrupt if ever that will happen. Many people are now investing in Bitcoin, they may have no other source of income if Bitcoin will get out of the picture.

[diegz]

What happens when bitcoin is banned and is considered illegal by the government and is not working?
If bitcoin is banned in a country, it affects a lot of people who are involved in the bitcoin market or experts in virtual currency.
It will not be good for the economy or the income of a nation that has a large number of people involved in bitcoin

It's a bit exaggerated. If everyone acts like a fool then probably that's possible. But since we are all capable of coping up with the situation, what you are thinking might not be happening. Everyone could shift to other online job or trade on forex instead.

Not everyone is into earning in bitcoin, in short, it won't even be noticeable to the economy. Besides most bitcoin users are not taxing what they earn, so how will it affect the economy?

[montefalco09]

I think banning bitcoin is not really the term because bitcoin is legal and bitcoin is not controlled by rbi and government so they cant stop us from using bitcoin.

[Cryptozond]

The cryptocurrency market is just beginning to expand. If bitcoin is blocked there is an alternative

[Glydel1999]

It’s a big risk for the government since bitcoin provides all improvement for the help of the entire humanity. If they banned bitcoin, they make a way to refuse the opportunity that will improve the society in future and well civilize.

[Raju Ahammed]

there is no way to banned bitcoin.because it is a digital currency.So don't worry about it.thank you.

[tam31]

There are a lot of possibilities what could happen with bitcoin but the most logical possibility what could happen is that bitcoin will go down. The country must be important and a rich country if it wants to effect btc.

Bitcoin is not so strong like the currencies you know now in your country. Bitcoin is unstable while the others are not.

[katmalo.ak47]

It’s a big risk for the government since bitcoin provides all improvement for the help of the entire humanity. If they banned bitcoin, they make a way to refuse the opportunity that will improve the society in future and well civilize.

IF bitcoin is banned many people will lost job, in fact many people will lost their life standard because they are working hard with bitcoin and earning well from bitcoin and thus they maintain a life standard. Many people will End their education because many student are working with bitcoin and earning from bitcoin and in this way they continue their education. In fact the over all world will be affected. But it is no possible to bane bitcoin if government banned people will use the bitcoin illegal.

[yourialfa]

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 bitcoin is banned then I will still use bitcoin. It does not matter if the government forbids it. Bitcoin will continue to exist and be used for crypto users.

[lestariptr]

Bitcoin will not be banned only certain countries will be banned if bitcoin is banned in general to be less popular and the price will drop as it did before

[hachiman13]

Many people would still use it and probably deem that the risks would be far less than the benefits it brings. Besides, most of the bans are not permanent;most will hold and wait it out. Some of countries have weak data tracking too so if people were to illegally transact bitcoins, chances are only a few would be held liable.

[fruitjay]

As a whole, there is no possibility that bitcoin can be banned completely. Its platform is not easily manipulated , especially, by the government. It's almost free form thus the potential is endless.

[maariyaam]

I think people will protest against that decision, because when that happen, it will cause a chaos. Or it will cause a bubble, really. So when that happen, but I doubt all countries will do that, that could lead to a high ratio of poverty. Maybe it will cause an economic depression.

[Deborah Christine]

if bitcoin is banned then what will happen is bitcoin investors will be harmed they will lose a lot of their money. and in my opinion this will lead to the decline of a country's reconstruction.
But i think bitcoin can not be banned because many countries and people support bitcoin.

[White32]

If its happen the users might be regret and thought that better if all thier bitcoins convert to the peso before the btc banned. Thier efforts will be worthless..

[Jose Mourinho]

Now and some time ago many governments are banned bitcoin, but this does not have any effect, users continue to increase and prices continue to be expensive, I'm sure bitcoin will be hard to stop by anyone including the government.

[DoublerHunter]

Now and some time ago many governments are banned bitcoin, but this does not have any effect, users continue to increase and prices continue to be expensive, I'm sure bitcoin will be hard to stop by anyone including the government.

It can be stop by the government because they have the power to dictate something and even though bitcoin is fully decentralized, the government can still stop bitcoin because they can dictate their people to stop using bitcoin or else they will go to the jail and that is how powerful the government is but i hope that this will not happen.

[donovank]

There are many speculations about what would happen if cryptocurrency got banned (in 1 country or overall)

The community has gotten so big that the banning of crypto would not stop the market. People would continue to use it, just a little more anonymously (I guess DeepOnion would skyrocket lol)

I don't think this will even happen tho, the gouvernments know it's a thing that they can't controll