What would happen if BTC was Banned?

[BAGOBO]

When I'm aware that bitcoin going shut down, I will sold all of my btc as soon as possible
But , life must go on even when I'm late to sold out all of my btc

IMO, there's little chance that bitcoin will be banned over the world

[1714959283]

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[carlerha]

Although, they could make it illegal, it would be nearly impossible to track people who continue to use Bitcoin and governments probably wouldn't be bothered to track who is using Bitcoin. They would have more things to care about. I would continue to use it anyway.

yes it is my right that they cannot to trace but if they are converting their bitcoins in to fiat then they can be trace, so it is important that government should accept bitcoin other wise problems will be created.

[ufaiz50]

bitcoin is a currency better for the future and bitcoin not associated in one state but almost all countries using bitcoin , banned Unthinkable in my mind. if bitcoin was banned i think i want find a job to change bitcoin

[shamzblueworld]

I think it will only affect the public companies trading in bitcoin, will not affect users that much because they will still be able to keep it, also trade with other users in hopes that the ban is just temporary and its gonna be lifted eventually and then they can make merry with it.
But the price may gown for sure.

[mirakal]

I think it will only affect the public companies trading in bitcoin, will not affect users that much because they will still be able to keep it, also trade with other users in hopes that the ban is just temporary and its gonna be lifted eventually and then they can make merry with it.
But the price may gown for sure.

Not only that, we will lose the chance to gamble freely. Bitcoin has really help us gambler to make it easy on us to gamble anytime and anywhere as long as we have the internet. If it's ban then it's illegal and bitcoin will loss its popularity.

[Victorycoin]

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

I think you meant to say if bitcoin is declared illegal across the globe, which is most unlikely, use of bitcoin would recede further into the dark web, strengthening anonymity and creating artificial scarcity. By that time, the governments would have lost it, because the scarcity would plummet the price of bitcoin, so much more people would be all out to go after it just like another gold rush.

A closer look at how the governments is handing bitcoin, indicates they are cautious, signalling they must have weighed these consequences and inclining to experiment with their own versions of bitcoin.

[markisanon2434]

Why do you think that bitcoin will be banned? is it because people use it to evade tax or buy drugs? If Governments ban bitcoin people will use coins such as Zcash! I don't think Government will ban bitcoin, they will, however, try to regulate bitcoin and make it taxable. Bitcoin and block chain technology bring innovation with them so no government would ban it.

[Positid]

Awww, it's definitely hypocritical because no one can track who is using bitcoin. Once it is announced that bitcoin should not be used then all stores and website will remove bitcoin acceptance payment gateway but  well there Erik be still 1000s of sources where we could use bitcoin. So there is nothing to fear.

They are the ones who will be affected as they are operating a legitimate business which is under the guidelines of the government, they have to follow the laws and if the government will ban bitcoin and will make it illegal to use, they have no choice but to sacrifice the market to be safe.

[Fatanut]

Why do you think that bitcoin will be banned? is it because people use it to evade tax or buy drugs? If Governments ban bitcoin people will use coins such as Zcash! I don't think Government will ban bitcoin, they will, however, try to regulate bitcoin and make it taxable. Bitcoin and block chain technology bring innovation with them so no government would ban it.

If they would try to regulate it, then they would have to buy the majority of bitcoins in circulation. That's kind of hard of to do because most people are ready to hold their coins for decades and doing that will only make the price pump, leading to much more bitcoin enthusiasts. I don't think the government would spend millions of dollars just to take control of bitcoin which in the first place wasn't meant to be like that. Kind of not a wise move if you ask me, there's a lot of things they have to worry about and bitcoin isn't on top of them.

[BrandonFever]

Its hard to say what is gonna happen with it if this happen but I think that we can not say it will disappear because the most of us will most likely stay using is it because you can do it a sort of anonymously right ?

[madwica]

I think if the bitcoin goes banned in more countries who are now have more users i think bitcoin value would be decreasing and soon it will be no value but i think this is not going to happen because only the government can ban the bitcoin but the government is not interested in digital money

[danherbias07]

Its hard to say what is gonna happen with it if this happen but I think that we can not say it will disappear because the most of us will most likely stay using is it because you can do it a sort of anonymously right ?

That would still be a problem. The people or establishments that will accept it will be lessened and how are we suppose to use it with that?
We think of it as money and because we buy it also before investing it. What good will it help us if it doesnt have any value.

[Mydarksaviour]

bitcoin cannot be ban because we can generate bitcoin thru internet. banning bitcoin means shutting down the internet access.

[BitcoinPC]

bitcoin cannot be ban because we can generate bitcoin thru internet. banning bitcoin means shutting down the internet access.

You have one more point in your opinion, But actually, in this thread someone asked us that if some countries banned it, I mean if some countries not accept the bitcoin in official level, than 100% all over the world bitcoin banned, (not talking about the banned on internet), Than what happened? But my answer is that it is impossible, because now a days, everyone country want to make life easy, and bitcoin is one of them thing which give us benefits, So why it is possible to banned the bitcoin?

[just_Alice]

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?

Fortunately Bitcoin is such a thing which would be very difficult to ban. it is possible for a government to forbid exchanges but they will never manage to control whether people having Bitcoin or not. Also you not necessarily need an exchange to sell your coins if you need cash. You can sell them to people you know personally or to a friend of a friend.

[staff_1307]

I think Bitcoin can not make illegal because Currency decentralized, so it will only be able to dispose of you. There are no regulatory bodies, and the banks can not take it from you.

[sportis]

We should be clear that it is difficult to ban bitcoin when it's used by many people on a global scale. If, despite all of this, governments decide to impose strict policies and  penalties to users  then unfortunately apart from the obvious, ie losing money people they have bitcoins in their wallets the most important innovation, after the discovery of gold, will be lost. Don't be afraid is almost impossible to agree all governments.

[boybugs18]

It would not happen as big companies in the top 100 where using/joining to use it now like Microsoft because they saw potential on it to be a good digital currency. Unless majority of it will pursue to make it illegal then it will be ban as they can influence the government to do something to it.

[john2231]

We should be clear that it is difficult to ban bitcoin when it's used by many people on a global scale. If, despite all of this, governments decide to impose strict policies and  penalties to users  then unfortunately apart from the obvious, ie losing money people they have bitcoins in their wallets the most important innovation, after the discovery of gold, will be lost. Don't be afraid is almost impossible to agree all governments.

You have the point but we can not know what will be happen in the future many reason for now i think bitcoin will be still not use locally in some country because of anonymous transaction of bitcoin and many people are abusing this like buying in dark web. so i think bitcoin will be ban because of this..
And more country that bitcoin  will be ban i think instead of the price of bitcoin will increase more because of adoption it will stay bitcoin if  what is bitcoin right now. or else it will decrease and we are using bitcoin anonymously and illegally..

[uname]

It would not happen as big companies in the top 100 where using/joining to use it now like Microsoft because they saw potential on it to be a good digital currency. Unless majority of it will pursue to make it illegal then it will be ban as they can influence the government to do something to it.

I think it may just bitcoin banned, although bitcoin in favor and supported by many companies, because when the government did not get any benefits and do not have any interest in bitcoin, it is possible bitcoin will be ban