What would happen if BTC was Banned?

[20kevin20]

Its very difficult for the government to ban bitcoin because its anonymous.But there is another easy way for the government to do that. For buying and selling of bitcoins definitely we will use fiat currency. And for that we need banks help .By bypassing banking procedures definitely its not possible to get bitcoins. What government will do is they will check each and every transaction done by fiat currency. They will monitor each and every account transactions. In that way itself government can control 60 percent of bitcoin trade. I am not telling government can control 100 percent. But atleast tto an extent government can control bitcoin transactions.

There's no need of involving a bank in your BTC transactions. You should have at least one BTC ATM nearby where you can buy with cash. You don't need to pay with your bank account to get Bitcoins, if you want to be anonymous you REALLY shouldn't. I prefer going miles for an ATM rather than exposing my real identity. I'm not doing any illegal stuff, but I really want only myself to know what happens with the money I earn.

[Fatanut]

Its very difficult for the government to ban bitcoin because its anonymous.But there is another easy way for the government to do that. For buying and selling of bitcoins definitely we will use fiat currency. And for that we need banks help .By bypassing banking procedures definitely its not possible to get bitcoins. What government will do is they will check each and every transaction done by fiat currency. They will monitor each and every account transactions. In that way itself government can control 60 percent of bitcoin trade. I am not telling government can control 100 percent. But atleast tto an extent government can control bitcoin transactions.

Where exactly did the 60% came from? There surely are ways to bypass banking procedures to get bitcoins. For example, instead of using an exchanger site, sell your bitcoins to another guy through Paypal or just do meetups. In Paypal, he can just choose Personal Payment and then that's it. The government wouldn't know that the payment was for bitcoins. And for meetups, the government doesn't have a CCTV connected to your eyes so they surely will not know that you just transferred bitcoins in exchange for fiat.

There are also other ways to cash out your bitcoins like money remittances. I don't think the government has control of that and they surely wouldn't know that the money you just received was for selling bitcoins. I don't think the government would successfully trace you if they would only rely on the banks. They should have some control over bitcoin or something before they can trace you in a timely manner.

[AjithBtc]

Countries have started to digitize fiat, for which soon any countries won't make ban upon bitcoin. Might make limitations on the use of bitcoin and other digital currencies.

[Mr. Big]

Countries have started to digitize fiat, for which soon any countries won't make ban upon bitcoin. Might make limitations on the use of bitcoin and other digital currencies.

If the countries would be offering a digital fiat of their own, I have a doubt that common people who earn from the internet and bitcoin will  entertain it instantly.. You know why? do those digital currencies that will be made would be offering free money I mean free work just like what the bitcoin world has right now... They can restrict their people to not use bitcoin, but they can't control their daily affairs and transactions... 

[carlfebz2]

Countries have started to digitize fiat, for which soon any countries won't make ban upon bitcoin. Might make limitations on the use of bitcoin and other digital currencies.

This thing would really happen on which a certain country would create its own digitalize currency and you are right bitcoin might be adopted but it would be restricted for sure.People will surely use the currency which is being implemented by the government.If btc was banned on any country adoption would really be limited.

[Text]

If Bitcoin would be banned in entire globe, I think many of us will not accept it at first  but we can move on and if there would be a new opportunity that can replace BTC. So we should not ruin or abuse the use of it, I know you are in the right age to know what is right.

[st0nefish]

If Bitcoin would be banned in entire globe, I think many of us will not accept it at first  but we can move on and if there would be a new opportunity that can replace BTC. So we should not ruin or abuse the use of it, I know you are in the right age to know what is right.

It does not make much difference for those who want to do illegal work. Because they can use maliciously in other currencies.
There was always fraud and illegal work. Bitcoinde is a currency like other currencies. There are some innovations he brings. It's not a problem with bitcoin, even if somebody does illegal work with bitcoin.

For example, a knife is a tool that helps you in the kitchen. But you can kill people with a knife. This knife will not do badly. The bad thing is how he used it.

[European Central Bank]

nothing good would happen if it was banned. i find the people who reckon it would go through the roof, because it's now illicit, delusional.

bitcoin is used by people. people want money. people don't want money that can't be spent easily.

[Gembul]

If Bitcoin would be banned in entire globe, I think many of us will not accept it at first  but we can move on and if there would be a new opportunity that can replace BTC. So we should not ruin or abuse the use of it, I know you are in the right age to know what is right.

It does not make much difference for those who want to do illegal work. Because they can use maliciously in other currencies.
There was always fraud and illegal work. Bitcoinde is a currency like other currencies. There are some innovations he brings. It's not a problem with bitcoin, even if somebody does illegal work with bitcoin.

For example, a knife is a tool that helps you in the kitchen. But you can kill people with a knife. This knife will not do badly. The bad thing is how he used it.

Yes, why do people always blame bitcoin. Good and bad bitcoin it depends on who uses it. And I think bitcoin created for good purpose. But I personally never ignore it, like how people see bitcoin i will still use it, as long as it is not prohibited by my country. And if my country prohibits bitcoin then inevitably I will leave bitcoin because I do not want to break the law. Thank you

[EdenHazard]

If Bitcoin would be banned in entire globe, I think many of us will not accept it at first  but we can move on and if there would be a new opportunity that can replace BTC. So we should not ruin or abuse the use of it, I know you are in the right age to know what is right.

It does not make much difference for those who want to do illegal work. Because they can use maliciously in other currencies.
There was always fraud and illegal work. Bitcoinde is a currency like other currencies. There are some innovations he brings. It's not a problem with bitcoin, even if somebody does illegal work with bitcoin.

For example, a knife is a tool that helps you in the kitchen. But you can kill people with a knife. This knife will not do badly. The bad thing is how he used it.

Yes, why do people always blame bitcoin. Good and bad bitcoin it depends on who uses it. And I think bitcoin created for good purpose. But I personally never ignore it, like how people see bitcoin i will still use it, as long as it is not prohibited by my country. And if my country prohibits bitcoin then inevitably I will leave bitcoin because I do not want to break the law. Thank you

the problem are when some people sees bitcoin as a delusional thing that manipulatable. i mean the volatile price make them afraid and government as though protecting people from a big scam scheme ever created in internet.

that was quite ironic, but those people who keep their faith in bitcoin will have no effect no matter it was banned or not.

[LegendaryMiner]

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?

The gov in my country declared weed is illegal, i still smoke inside my bedroom.
If the gov in the world declared bitcoin is illegal, we still use it inside our pc.
They cant track it, but if the gov hiring real god hacker to destroy all bitcoin address, miners, wallet and everything about bitcoin , then i'll sell all my btc before that happen, go outside and get some job.

They will not do that because bitcoin is not illegal in some countries, if they do that it is include of cyber crime. I think government is not really hate bitcoin, they only hate about loosing control of their citizen money.

There are a few reasons why some countries have incentives to do this, such as the ones you mentioned. However, there are even more reasons that make the government take a step back, such as the fact that this would further promote Bitcoin, and the fact that such technology can not be blocked by the technologies that governments currently possess.

[shinratensei_]

Countries have started to digitize fiat, for which soon any countries won't make ban upon bitcoin. Might make limitations on the use of bitcoin and other digital currencies.

There is no one know about the future, at least if that will be being the other support for bitcoin, and if the government will make it happens soon, and regarding it may more adopters will come, that's will make the easiest pair for bitcoin.

[Vivace92]

of course everyone will leave the bitcoin, surely they will not be interested in saving the bitcoin and will soon sell it. then it can be ascertained that the price in 1 hour will drop to the lowest level and in 1 day nothing will accept bitcoin so that everything will be destroyed.

[diegz]

of course everyone will leave the bitcoin, surely they will not be interested in saving the bitcoin and will soon sell it. then it can be ascertained that the price in 1 hour will drop to the lowest level and in 1 day nothing will accept bitcoin so that everything will be destroyed.

Don't forget that we are not one and the marketplace is not just what we see. There are other marketplaces down there. But anyway, I don't see bitcoin dying if it is being banned by the government. It thrived to situation like this, well, I think it will survive like this. Exchanges might be gone, but we still can sell it via other bitcoin user. 

[Xenrise]

As for bitcoin itself, absolutely nothing would happen, as bitcoin's decentralized nature makes a ban very difficult to enforce. There may be a few sheeple that would do as their elite masters told them and stop using it; either out of fear or brainwashing. However, most free thinking individuals who understand how bitcoin works would continue to use it, though, probably taking a few precautions.

[Fireblade]

As for bitcoin itself, absolutely nothing would happen, as bitcoin's decentralized nature makes a ban very difficult to enforce. There may be a few sheeple that would do as their elite masters told them and stop using it; either out of fear or brainwashing. However, most free thinking individuals who understand how bitcoin works would continue to use it, though, probably taking a few precautions.

in fact those people who know about the importance of bitcoin will always try to use bitcoin. bitcoin is the need of new generation. therefore i do not think that the modern people will be ready to quite using bitcoin. they will even continue using bitcoin if any start consider bitcoin as banned. but i can hope that they will much more think about bitcoin before banning it.

[Fatanut]

of course everyone will leave the bitcoin, surely they will not be interested in saving the bitcoin and will soon sell it. then it can be ascertained that the price in 1 hour will drop to the lowest level and in 1 day nothing will accept bitcoin so that everything will be destroyed.

I don't think so. Drugs has been banned for a really long time, but the ban just increased the price. There are tons of things that are banned but here we are, we still see people buying it everyday (e.g. drugs, marijuana, etc.). The banning of bitcoin wouldn't kill bitcoins in just a day. It might discourage the sheeple but a good percentage of the bitcoin users aren't like that. We know what we're doing and we already anticipated bitcoin being banned even though it's high improbable.

[bravehearth0319]

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?

Even if Bitcoin was banned, I will continue to use it, because there many fellow citizens that will do the same thing to use it more, because of the unique featuresthat it can give to any one in the wolrd.

[HarringtonStark]

If bitcoin was banned, other digital currencies will rise up such as altcoins dogecoins, ethereum

[Mr. Big]

If bitcoin was banned, other digital currencies will rise up such as altcoins dogecoins, ethereum

That's not true... Actually, it will be a chain effect... If bitcoin is being banned, so as the other digital currency not recognized by the state... I am sure that there is no exemption to that...But I am sure too that the use of bitcoin will still remain and probably the same as today, except without local exchanges where we can convert our bitcoin to cash...