What would happen if BTC was Banned?

[Anarchist]

If anyone outside the G20 bans bitcoins and the G20 accepts Bitcoin as legit and slowly the world accepts it, then the country that banned it would look pretty darn silly.

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[virasog]

It can be banned, but it can't be stopped.

Right, because we are the only one that can stop bitcoin and that if we will stop supporting it.

I agree with both of these, government can banned the bitcoin but the people who supports the bitcoins is unstoppable since we are earning big enough to sustain some of our needs for sure they will be a big argue in that matter especially to those country that totally accepts bitcoin.

[Zadicar]

It can be banned, but it can't be stopped.

Right, because we are the only one that can stop bitcoin and that if we will stop supporting it.

I agree with both of these, government can banned the bitcoin but the people who supports the bitcoins is unstoppable since we are earning big enough to sustain some of our needs for sure they will be a big argue in that matter especially to those country that totally accepts bitcoin.

This is true 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.This is why the adoption of bitcoin is slowed because some of countries do really prohibits it on using bitcoin.

[Tanic]

If bitcoin was banned here in our country? I'm gonna crazy. But I know it gonna happen here in our country since we are recognizing bitcoin as one of medium exchange though not a legal tender. In other countries it is punishable for them to use bitcoin  even not banned but they discouraged using it as they were afraid using it as a tool for illegal transaction.

Where are you from?
I live in Serbia and in the case bitcoin would be banned here I also would go crazy. I and some of my friend are making some extra money to our ordinary salaries. Bitcoin really helps us and I can't imagine if bitcoin disappear.

[Harlot]

It can be banned, but it can't be stopped.

Right, because we are the only one that can stop bitcoin and that if we will stop supporting it.

I agree with both of these, government can banned the bitcoin but the people who supports the bitcoins is unstoppable since we are earning big enough to sustain some of our needs for sure they will be a big argue in that matter especially to those country that totally accepts bitcoin.

There is a way to stop Bitcoin. Remember that the government has a control of the internet. The most possible way is the government blocking all kinds of wallet so that the circulation of Bitcoin will stop. By doing this even if you have Bitcoin on your wallet you can't use it because your wallet won't be accessible.

[MicroGuy]

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 there would be an explosion of interest in cryptocurrency leading to a faster acceleration of global capital moving into blockchains.

Fiat will not be able to compete with cryptocurrency regardless of the legal environment. Its obsolescence became for certain the day the bitcoin genesis block was mined.

[klf]

It can be banned, but it can't be stopped.

Right, because we are the only one that can stop bitcoin and that if we will stop supporting it.

I agree with both of these, government can banned the bitcoin but the people who supports the bitcoins is unstoppable since we are earning big enough to sustain some of our needs for sure they will be a big argue in that matter especially to those country that totally accepts bitcoin.

There is a way to stop Bitcoin. Remember that the government has a control of the internet. The most possible way is the government blocking all kinds of wallet so that the circulation of Bitcoin will stop. By doing this even if you have Bitcoin on your wallet you can't use it because your wallet won't be accessible.

Right if our government takes this decision then there is a possibility there to stop Bitcoin transaction. But this will not happen. Because people will find a new way to transact Bitcoin in online. We have too many developers in all over the world they can find other solution for this. If bitcoin is new to the market, then no one will think about this, But now Bitcoin is more popular in digital market people will not sit ideal.

[audaciousbeing]

I will say it actually will depend in the country its being banned for example, if its banned in a country like mine, I wont see any effect its going to have on the price of bitcoin because the population here might not be able to make the impact couple with the fact that the infrastructure to keep it at that is something I dont see us having currently but for a country like USA or China or Russia then I see a crash that we might not recover from because in those countries to my understanding, when its banned then it will remain banned especially the United States.

[Xenophoto]

I will say it actually will depend in the country its being banned for example, if its banned in a country like mine, I wont see any effect its going to have on the price of bitcoin because the population here might not be able to make the impact couple with the fact that the infrastructure to keep it at that is something I dont see us having currently but for a country like USA or China or Russia then I see a crash that we might not recover from because in those countries to my understanding, when its banned then it will remain banned especially the United States.

Population is not equals how much bitcoins do you have. I can have a thousands of bitcoins, live in a remote area, and when I dump bitcoins, the price will move significantly. You might think that you're just a thousand of bitcoiners in your country or maybe even less than that, but what if someone amongst you holds a lot of coins?

Bitcoin getting banned will lead to a lot of people from all over the world sell their coins. They would think that they wouldn't risk going to jail just to earn a couple of centavos in the bitcoin world. Personally, I'd sell my coins if by the time it got banned I'm not still earning much here. Regular people like me might not affect the price to go down as much as when Chinese people sell their coins, but when we backed off from using bitcoins, that will postpone or prolong the process of bitcoin mass adoption. That mean we would still indirectly affect the bitcoin price.

[topesis]

If BTC was banned I'm very sure anyone holding 10 or more BTC will be financially free, especially in my part of the world, it becomes scare and illegal, just like drug and to get it you will have to pay premium price for it because of the level of risk attached to it.

[Schuyler]

Unless there is something that proves bitcoin should be banned, I don't think this is going to happen. A scenario where bitcoin will be banned will just result in people holding it somewhere safe and wait till the ban is lifted. We are in the digital age and banning something that's supposed to be of great help might not be the brightest idea.

[Anno MMXVII]

As anything banned, such as drugs or alcohol during the Prohibition, the price will rise a lot, and that will attract criminals. Not However not very sure how criminals could conduct a Bitcoin traffic as they do with drugs, but there will be definitively an action from their side.

[tabas]

If BTC was banned I'm very sure anyone holding 10 or more BTC will be financially free, especially in my part of the world, it becomes scare and illegal, just like drug and to get it you will have to pay premium price for it because of the level of risk attached to it.

Yes that is a possible thing to happen when bitcoin is banned. The demand will be higher and the price will be affected and it is going to pump for sure. However whether there is a ban for it, I'm pretty sure that many bitcoin user will still violate that ban as bitcoin is anonymous and there is no information included whether they can see our transactions.

[Amph]

As anything banned, such as drugs or alcohol during the Prohibition, the price will rise a lot, and that will attract criminals. Not However not very sure how criminals could conduct a Bitcoin traffic as they do with drugs, but there will be definitively an action from their side.

i don't think so, even if bitcoin is banned you can still use it easily, no government will ever check if you are sending a transaction abroad to your friend or family

also bitcoin will continue to work on many other country, banning it in one country will not make any difference,

unless those that are in that country hold a very high amount and are in any way unable to use them, which mean that those coin are kinda like lost coins

[COIN LTD]

There is a tiny chance that bitcoin will be bannend in a global orchestrated action, but it is, as said, tiny. Maybe some countrys wil become a tax haven like bitcoin habitat then 

[ReLieD]

First of all it is not an illegal thing that i would be banned
Secondly It is just a place where people work to earn BTC.
AND WHY TO THINK ABOUT THINGS WHICH WONT HAPPEN.
Even if they ban it , bitcoin has become very much popular and more over it has soo much power to
regain itself. So dont worry , your money will be safe here.

[Ankara]

Bitcoin cant be banned and it work out.

Only the exchanges and centralized services can be attempted to be shut down.

[poplolnman]

As anything banned, such as drugs or alcohol during the Prohibition, the price will rise a lot, and that will attract criminals. Not However not very sure how criminals could conduct a Bitcoin traffic as they do with drugs, but there will be definitively an action from their side.

i don't think so, even if bitcoin is banned you can still use it easily, no government will ever check if you are sending a transaction abroad to your friend or family

also bitcoin will continue to work on many other country, banning it in one country will not make any difference,

unless those that are in that country hold a very high amount and are in any way unable to use them, which mean that those coin are kinda like lost coins

the worst scenario are when most countries around the world agree to fight bitcoin together and banned globally which i think it's almost impossible to be happened isn't it? there wouldn't be a significant effect to bitcoin user even china previously have been declared that they are not supporting bitcoin and ban to whoever use bitcoin , but hey look now they are leading in bitcoin development.

[KennyR]

As anything banned, such as drugs or alcohol during the Prohibition, the price will rise a lot, and that will attract criminals. Not However not very sure how criminals could conduct a Bitcoin traffic as they do with drugs, but there will be definitively an action from their side.

i don't think so, even if bitcoin is banned you can still use it easily, no government will ever check if you are sending a transaction abroad to your friend or family

also bitcoin will continue to work on many other country, banning it in one country will not make any difference,

unless those that are in that country hold a very high amount and are in any way unable to use them, which mean that those coin are kinda like lost coins

the worst scenario are when most countries around the world agree to fight bitcoin together and banned globally which i think it's almost impossible to be happened isn't it? there wouldn't be a significant effect to bitcoin user even china previously have been declared that they are not supporting bitcoin and ban to whoever use bitcoin , but hey look now they are leading in bitcoin development.

Same as China before certain time period Russia banned bitcoin into the country and now it has taken back the ban. They have planned to make it supportive for their financial system through the Blockchain technology. Possibly over the years to come banning of bitcoin won't be there.

[nara1892]

Bitcoin cant be banned and it work out.

Only the exchanges and centralized services can be attempted to be shut down.

yeah, that's right. probably OP means by "banned" is not accepted as a legal currency by all countries.
well, if it would happen, probably bitcoin community will keep using bitcoin and sell stuff that accept bitcoin as payment, just like this time.