What would happen if BTC was Banned?

[Finestream]

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 many people will start a rally because as we can see bitcoin nowadays helps us a lot in many things like business, buying iur wants and as well as our needs and especially some people make this as their main source of earning. And I think many business will go down and soon will close and start of their fall down in business. Many people will start to get poor and lose their bitcoin. And especially bitcoin will be useless if that happens.

We will not allow bitcoin to be banned, it's our freedom and we have to protect it against our greedy government. Only in bitcoin where you are in control of your own funds and when it comes to confidentiality, it is the real one because data are encrypted and it is for our own satisfaction.
Banks offers privacy but we are open to their staff which the government can also access our record anytime.

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[BeGoods]

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 all government around the world declared that bitcoin is an illegal thing. Many people who have bitcoin sell their coin as soon as possible, it caused decreasing of price. But I think many people will silently earning bitcoin while it dumping, because no one knows what will happen, it's either bitcoin will become useless or this coin will be increase price soon even if its banned.

Or maybe this would increase the price of bitcoin several times.
All the same, there would be those who would continue to use bitcoin. For some, anonymity is very important

actually ban the use of bitcoin create a negative effect on the reliability of the bitcoin users and perhaps it will have an effect on the price. but banned will not be able to make a person stop using bitcoin

[Toplivecasinos]

If bitcoin will be declared as illegal by every government then I will sell it immediately. Bitcoin value will plunge and owning one is just like owning a worthless paper. I would rather get a dollar or a gold that I know is impossible to be declared as illegal.

[Japinat]

If bitcoin will be declared as illegal by every government then I will sell it immediately. Bitcoin value will plunge and owning one is just like owning a worthless paper. I would rather get a dollar or a gold that I know is impossible to be declared as illegal.

If that situation will come, you need to be very updated with the recent news to be able to sell your bitcoins at the right time because if you fail, you might end up holding a worthless currency. But don't worry mate because that possibilities in life will never happen, bitcoin will continue to progress as it is back by big investors and even the most financially successful in this world are backing bitcoin.

[deppil]

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 all government around the world declared that bitcoin is an illegal thing. Many people who have bitcoin sell their coin as soon as possible, it caused decreasing of price. But I think many people will silently earning bitcoin while it dumping, because no one knows what will happen, it's either bitcoin will become useless or this coin will be increase price soon even if its banned.

Or maybe this would increase the price of bitcoin several times.
All the same, there would be those who would continue to use bitcoin. For some, anonymity is very important

the legality of the government is important because it can make progress speeding bitcoin but if the government is determined to ban the bitcoin then it will give some barriers to the bitcoin

[Barbut]

Nothing will happen, it will touch us here in community cause we have benefit from btc, but many people will not even notice that bitcoin is banned. And here is a bit hard question to answer, which country will ban bitcoin, on which way, how can some country stop people from using internet freely? If some country ban bitcoins, only bitcoin lovers will be nervous about it, and they will find some way to access internet, VPN, or some hidden internet connections. What ever happen people will find a way, we are resourceful.

When bitcoin will be widely ban that would be the end of bitcoin system, we will not be able to cash out our bitcoin and that is worthless anymore.
Right now, we need exchanges to cash out and they need banks to support them, what would happen if exchanges will be shut down as they cannot get a licensed anymore, though we can hide and use but bitcoin has no value at all as it will not be accepted as payment for our purchase.

When big rock falls from the sky that will be the end of eco system and entire human race. Widely ban means that something is illegal everywhere, but there will be always some islands where you wash your money, and enjoy other benefits.
Sometimes I don`t get people here, you wish bitcoin to be independent and decentralized, but in same moment you wish bitcoin to be a part of current system with government support, even thou we know what government and bank sector represents. Who have the power to shut down all exchange sites? And we use them now cause many of us can`t do much with bitcoins that can be changed, and if that change exchange sites will be used for trading alt coins, and just for that.

[Dimelord]

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 would still be used by those who love bitcoins,but secretly.No authority has fixed a value for bitcoins.Its value is based on the trust which its users have on bitcoin.But bitcoin price would fall considerably.Since internet cannot be banned completely,same condition exist with bitcoins also.It should be noticed that already china and Russia wished to ban bitcoins and then dropped their idea.They would have thought that banning bitcoins would not yield desired results.

[cryp24x]

The question we should ask ourselves is "on what reason should bitcoin be banned? One if it is that if it is  not being used for money laundering and  used by terrorist organization to transfer fund then bitcoin can not be ban. It is widely being accepted daily.

It is really not just that reason. They can create this technique to manipulate people's and that would be easy considering they can control the media. Just one news can change it all.
It is really the threat for a free currency that they wont have any control with. What would they get with something that is used with freedom and they cant just apply tax easily.

Let’s look at it this way, if for example both north America and Europe both ban bitcoin at the same time that will make the bitcoin price plummet, but if one country ban it that won’t make much of a difference because there would be a shift of the exchanges and bitcoin holding from that country to another, but if enough major countries ban it than the bitcoin will be reduced to a novelty traded item in which neither consumers or clients would be willing to invest in.

What you are citing is true.  As long as there is some place to accept Bitcoin and that place has a big demand of it, then it will more likely absorbed the Bitcoin that is going to be sold resulting to fast recovery of Bitcoin Price but if all of the big players country choose to ban bitcoin then a sharp fall is observed since there will be no one to support the dumping of Bitcoin.

[DomainMagnate]

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 would still be used by those who love bitcoins,but secretly.No authority has fixed a value for bitcoins.Its value is based on the trust which its users have on bitcoin.But bitcoin price would fall considerably.Since internet cannot be banned completely,same condition exist with bitcoins also.It should be noticed that already china and Russia wished to ban bitcoins and then dropped their idea.They would have thought that banning bitcoins would not yield desired results.

Bitcoin has helped cut the cost of transaction to a considerable level.If it is banned people will have to pay lot of extra money to move money.
I assume many governments are now aware of benefits of bitcoin but due to various reasons they don't legalize it.

[giveen]

If this would happen btc was banned by the government I think btc will decrease its price because of less in demand though. And it will caused really on panice selling.

Lol i wish what you told was actually true but in today's world the things which are banned are the one's which have the most value. See the case of porn it's literally banned everywhere, drugs banned everywhere in the world but people still sell it and it sells for a really high price also.

[1Referee]

Bitcoin has helped cut the cost of transaction to a considerable level.If it is banned people will have to pay lot of extra money to move money.

If this was 2012/2013 I would agree with you, but in current times Bitcoin is more expensive than the majority of the payment services. Especially when it comes to the ratio of transaction value vs the included fee value. If you are familiar with PayPal, then it's obvious that Bitcoin is completely outruled when it comes to transacting instantly and free with family, friends, etc. PayPal is also free when it comes to buying goods. Nah man, Bitcoin severely lacks in that regard.

I assume many governments are now aware of benefits of bitcoin but due to various reasons they don't legalize it.

Governments have been well aware of Bitcoin right from the start, but they didn't seem to take it very serious at the beginning because Bitcoin was just a joke for them. Now Bitcoin is constantly growing larger, governments realize that something needs to be done, and that's exactly why you see them put all kinds of regulatings in place.

[Lauren Smith]

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 many people will start a rally because as we can see bitcoin nowadays helps us a lot in many things like business, buying iur wants and as well as our needs and especially some people make this as their main source of earning. And I think many business will go down and soon will close and start of their fall down in business. Many people will start to get poor and lose their bitcoin. And especially bitcoin will be useless if that happens.

Yes !! If the government's did that then that's as good as declaring war on the people. People won't stand for that. That's taking away people's freedom and I'll rather be dead then have to follow some stupid rule some idiots made as a choice for all of us. What makes them so special they have the rights to decide how we choose to be rewarded for our hard earned bitcoins ? It's our money. We worked hard for it and we can use whatever method of spending that money as we feel. Mass riots would break out. It would be a full in war against the government. It would never happen.

[Rostadom]

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 many people will start a rally because as we can see bitcoin nowadays helps us a lot in many things like business, buying iur wants and as well as our needs and especially some people make this as their main source of earning. And I think many business will go down and soon will close and start of their fall down in business. Many people will start to get poor and lose their bitcoin. And especially bitcoin will be useless if that happens.

Yes !! If the government's did that then that's as good as declaring war on the people. People won't stand for that. That's taking away people's freedom and I'll rather be dead then have to follow some stupid rule some idiots made as a choice for all of us. What makes them so special they have the rights to decide how we choose to be rewarded for our hard earned bitcoins ? It's our money. We worked hard for it and we can use whatever method of spending that money as we feel. Mass riots would break out. It would be a full in war against the government. It would never happen.

Online gurus give me head ache most of the time. They exaggerate things and viewers take it so much as if God has spoken to them and the purpose of life has been whispered upon their ears.

First thing, they are the government so pretty much whatever law they impose, you will follow. Unless you're ready to face consequences which isn't that wise imo.

So are you saying that you will die for bitcoins? I hardly think so. It's not that hard to live a life without bitcoins since we all know that this is just all a bubble. Bitcoin can be gone tomorrow. (Although it's really unlikely) We don't know what tomorrow might bring.

By "mass riots", did you mean a couple of people? Because honestly, I don't think we're even a million in population. This forum doesn't even have a million and the whole forum is filled with spammers/bots. Most of the accounts here are just brand new accounts that never even posted or maybe they've posted but got nuked because of spam/bot.

[roadbits]

Bitcoin has helped cut the cost of transaction to a considerable level.If it is banned people will have to pay lot of extra money to move money.

If this was 2012/2013 I would agree with you, but in current times Bitcoin is more expensive than the majority of the payment services. Especially when it comes to the ratio of transaction value vs the included fee value. If you are familiar with PayPal, then it's obvious that Bitcoin is completely outruled when it comes to transacting instantly and free with family, friends, etc. PayPal is also free when it comes to buying goods. Nah man, Bitcoin severely lacks in that regard.

I assume many governments are now aware of benefits of bitcoin but due to various reasons they don't legalize it.

Governments have been well aware of Bitcoin right from the start, but they didn't seem to take it very serious at the beginning because Bitcoin was just a joke for them. Now Bitcoin is constantly growing larger, governments realize that something needs to be done, and that's exactly why you see them put all kinds of regulatings in place.

I don't think that Bitcoin is expensive than Paypal. we can able to send huge money through bitcoin with very less transaction fee, and it will take less time to deposit amount. The PayPal will take a long time confirm payment, and the charge is high to compare to Bitcoin. And still many govt not aware of this bitcoin that is why we are using Bitcoin freely without getting any problem from govt. Once they put an eye on Bitcoin, then I don't know what the future of Bitcoin is.

[(altair)]

I think it would be really be impossible to ban the bitcoin,
I mean all of the users are anonymous so the government couldn't track us.

[igorokavg13]

Bitcoin has helped cut the cost of transaction to a considerable level.If it is banned people will have to pay lot of extra money to move money.

If this was 2012/2013 I would agree with you, but in current times Bitcoin is more expensive than the majority of the payment services. Especially when it comes to the ratio of transaction value vs the included fee value. If you are familiar with PayPal, then it's obvious that Bitcoin is completely outruled when it comes to transacting instantly and free with family, friends, etc. PayPal is also free when it comes to buying goods. Nah man, Bitcoin severely lacks in that regard.

I assume many governments are now aware of benefits of bitcoin but due to various reasons they don't legalize it.

Governments have been well aware of Bitcoin right from the start, but they didn't seem to take it very serious at the beginning because Bitcoin was just a joke for them. Now Bitcoin is constantly growing larger, governments realize that something needs to be done, and that's exactly why you see them put all kinds of regulatings in place.

I don't think that Bitcoin is expensive than Paypal. we can able to send huge money through bitcoin with very less transaction fee, and it will take less time to deposit amount. The PayPal will take a long time confirm payment, and the charge is high to compare to Bitcoin. And still many govt not aware of this bitcoin that is why we are using Bitcoin freely without getting any problem from govt. Once they put an eye on Bitcoin, then I don't know what the future of Bitcoin is.

The government will not ignore the crypto currency. In many countries, the popularity of crypto currency is rapidly developing. And that is why some countries have already banned cryptocurrency. But I'm sure that in the whole world bitcoin will not be banned

[epitome]

I think it would be really be impossible to ban the bitcoin,
I mean all of the users are anonymous so the government couldn't track us.

How about when dealing with an bitcoin exchange ,as far as i know all the exchanges need you to reveal your identity if you are dealing with fiat currency and how can you be anonymous when they really know who you are and one more thing is that bitcoin is not really anonymous .

[batang_bitcoin]

I think it would be really be impossible to ban the bitcoin,
I mean all of the users are anonymous so the government couldn't track us.

How about when dealing with an bitcoin exchange ,as far as i know all the exchanges need you to reveal your identity if you are dealing with fiat currency and how can you be anonymous when they really know who you are and one more thing is that bitcoin is not really anonymous .

Not all the exchanges are doing this but that's the risk for us who did submit our identities to them. Maybe if they will tracked you using that platform and your identities are into it, you should review their TOS so that you know that it's on the contract. But I guess as long as you don't have illegal transaction you will be fine and even gov't will ban BTC they can't stop us.

[Janation]

First, bitcoin is free, no government can control these currency unkess we did accept government to control the bitcoin, the blockchain, etc. But if it dies, I know the government will give a warning to users to stop using it, they will issue a date where the last day to use this digital currency. And eventually, obviously bitcoin will die afterwards and will be converting it to altcoins that is closing to bitcoin like Litecoin or Dogecoin, gonna mine other altcoins and just like that, forget bitcoin. Theres a lot of altcoin that will replace bitcoin if it was banned, but you cant stop other people and they will still use it even if its banned.

[UCHCHILD]

This is impossiblr to happen since bitcoin is totally supported by us, banning it is not enough to control its users. I amknow somebody who uses bitcoin and he is in a country that bans bitcoin. Government still cannot control its users even if they declare banned.