What would happen if BTC was Banned?

[jonatuzc]

there will really be chaos, because so many people use it and raise a riot...

Yes, but the effect will not for long time. Bitcoin still spread although many countries are not recognize bitcoin. Bitcoin directly spread to the community without need for government approval. If government ban bitcoin, it will make many investors afraid and sell it, but bitcoin has many users that will always hold their bitcoin because they are sure that bitcoin will become very valuable in the future.

Banning bitcoin is not a solution honestly. This is a value for the entire world and nobody can regulate this by banning or restricting. Some countires tried this but they didn't reach any significant results.

Yes banning Bitcoin is not an easy task. It is speared throughout the world at very high level so now it looks impossible to ban it. Government can never be successful to restrict its usage because now it becomes very popular and widely used everywhere. The best thing will arrive when all countries start believing in Bitcoin and start using it in day to day transactions.

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[jennywhzz]

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 no point to left bitcoins. It still give us a lot of benefits even our government ban the bitcoin i would continue to use it since the there's no way to trace it, its untraceable. There's no way government reached on my place and arrest me as i have my bitcoin online. Not only me almost everyone do the same. They have invested , how can they left working with bitcoins ?
 

[diegz]

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 no point to left bitcoins. It still give us a lot of benefits even our government ban the bitcoin i would continue to use it since the there's no way to trace it, its untraceable. There's no way government reached on my place and arrest me as i have my bitcoin online. Not only me almost everyone do the same. They have invested , how can they left working with bitcoins ?
 

Are you sure? how are you gonna cash it out? As far as I know, we cannot live  yet using bitcoin alone. It is useless to earn bitcoin when in the end the state is going to jail you, all your earnings for sure will be confiscated too. So better stop it if it is considered as illegal, or else, you're like those people who evade the law, they keep on running.

At this point, price is high and many investors are already in, if it will be banned, then many will probably will appeal to the government since their wealth is already at stake.

[Mumen Rider]

I dont think bitcoin will be banned because if it is illegal or if the government say so that bitcoin is not legal, it would have been long gone right now, right? But let's say BTC was banned in unknown circumstances, well it sucks because i just started in bitcoin and im sure a lot of people will be mad or be dissapointed with the idea of it.

[Naoko]

I don't think that the government will take on this responsibility...too many people use it and these interested people will be displeased with the ban...and what dissatisfied people do? - they rebel

[Flame-]

If bitcoin is banned and we continue to use it, we will be considered criminals and will be threatened with layered legal consequences, this is a disadvantage especially for miners and people who depend on crypto currency, but I think this possibility is very small unless the government makes a special successor and replace the version of their own business crypto system.

[romeitaly]

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 would be banned all around the world, it would be a disappointment for all of us who use bitcoin and some may even will demand for the bitcoin's legality in their country. We just need to let them understand how bitcoin is helpful not only for the people per se but also for the economy of one's country. We may be treated as developed country if we are using bitcoin in our country.

[elbimbo012]

Ban where? you can't Ban Bitcoin worldwide its very very impossible if they cant regulate bitcoin how much more banning it? Crypto currency is already been a medium of buying, paying bills and other services online. even this will become illegal this would be hard to totally shutdown because no single server where coin are being stored it is decentralized

[ohzeih5n]

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 will loss my extra money and will back to work hard and earn low

bitcoin more flexible than stopped by simple banned from one government

[dyewic]

If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it.

I strongly agree on your opinion that, If Bitcoin is banned, bitcoiners would be criminals and the exchange rate would go up. That's about it. But on my opinion I think that, Bitcoin can't be banned permanently and totally. That is a fact, there will be always places where bitcoin will be fully legal. In addition, I would definitly continue to use it! Bitcoin can't be shut down unless they shut the internet down. They may turn us into criminals just for using it, but the community won't bend!

[Yur]

I don't think that countries will initiate ban over the bitcoin in the future or now. Because now everyone trust on the technology and trying to implement for their own needs. Even Russia had taken back the ban over its people on bitcoin use. But if this happen, we are all in big trouble.

[Lascrea]

I think if it happens it will be very much bitcoin criminals of this world, a player bitcoin will not stop just because bitcoin be illegal, because it was so many people in this world whose lives depend on bitcoin  

[Ejanend]

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 no point to left bitcoins. It still give us a lot of benefits even our government ban the bitcoin i would continue to use it since the there's no way to trace it, its untraceable. There's no way government reached on my place and arrest me as i have my bitcoin online. Not only me almost everyone do the same. They have invested , how can they left working with bitcoins ?
 

Are you sure? how are you gonna cash it out? As far as I know, we cannot live  yet using bitcoin alone. It is useless to earn bitcoin when in the end the state is going to jail you, all your earnings for sure will be confiscated too. So better stop it if it is considered as illegal, or else, you're like those people who evade the law, they keep on running.

At this point, price is high and many investors are already in, if it will be banned, then many will probably will appeal to the government since their wealth is already at stake.

No it is not illegal in my country but in some places bitcoin is claims as illegal and it is not good I don’t know why people are saying that bitcoin is not good to buy and hold for long time but for me bitcoin is source of earning and I am sure it will give me profit.nif a few countries will ban bitcoin than it does not mean it will lose value and will become illegal but it will grow and reach more high place in my country for sure.

[Ethernel]

People will use it anyway cause they want to get money, but it must become anonymous and more serius. People will risk a freedom using bitcoin after ban.

[Hxyro]

there would be a world war 3 hoho governments vs. Holders hoho
but seriously it would be really bad  for some big fish out there even some big companies had invested on bitcoinds and other cryptocurrencies xD

[imoet]

I think Bitcoin will be difficult to be ban. Because almost all over the world there are many bitcoin users. Bitcoin will become more illegal and the risk will be higher. even like that..people will still use bitcoin as their investment and payment. Bitcoin has control so many side of the companies. The owner of the company will not let bitcoin to be ban or become something that will unprofitable for them.

[Gogochen]

Actually it's not very practical, September when the Chinese government banned the currency, and then the currency fell to 2000 Us dollar, but after 2 months already reached 10000 Us dollar, so can't be prohibited all countries in the currency.

[bharal07]

maybe the forums will be confused maybe what to say there. and if it's banned really? may be a lot of trouble because others have not invested so they have no income yet? if banned really? would they give us a bitcoin? That's right. Hehe

[geegaw]

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 would be banned all around the world, it would be a disappointment for all of us who use bitcoin and some may even will demand for the bitcoin's legality in their country. We just need to let them understand how bitcoin is helpful not only for the people per se but also for the economy of one's country. We may be treated as developed country if we are using bitcoin in our country.

Yeah, if bitcoin is banned, that would be a really horrible thing, users will become very panic, chaotic, even more people have put all their money into bitcoin, they can become crazy, cry and swoon, in short, this is something that no one wants to happen. And I also believe that this will never happen, bitcoin is opening up a new direction for the currency of the country, they need to rely on bitcoin to develop their own currency, they will not forbid bitcoin, in addition, bitcoin is not under their control, they can not manage it, Bitcoin exists based on the needs of the market, the government has no right to interfere

[goku1525]

I think Bitcoin will be difficult to be ban. Because almost all over the world there are many bitcoin users. Bitcoin will become more illegal and the risk will be higher. even like that..people will still use bitcoin as their investment and payment. Bitcoin has control so many side of the companies. The owner of the company will not let bitcoin to be ban or become something that will unprofitable for them.

I agree with you, bitcoin cannot easily to get banned because of the users who support on it which make bitcoin put in a popularity, no matter how government banned bitcoin into a particular place but people who believes it would definitely use it no matter what and hidden transactions would be made.That's why the adoption of bitcoin is slowed due to some countries still can't accept bitcoin.