What would happen if BTC was Banned?

[Nagadota]

It would still be used, just like drugs are just as used as before the supposed war on drugs began.  The only thing it would change is that the price would drop as big investors and traders (people doing legal things) take their money out of it.

[Slark]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

i do not think that bitcoin i still banned anywhere, although most of the countries have no statement about bitcoin but still it does not mean that they have banned bitcoin. hope that ver soon they will consider bitcoin as legal currency of the world.

No, there are countries where Bitcoin is illegal to use and you will be penalized if you own it. I don't know if that law is being  respected or not though.
For instance bitcoin used to be illegal in Thailand, in 2013 Bank of Thailand declared bitcoin illegal, they changed their stance in 2016 where they said that it is not illegal but still advised against using it.
Bitcoin was briefly banned in Russia and Indonesia too. Currently Bitcoin is banned in Ecuador, Bolivia and Vietnam.

[dmamigo]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

i do not think that bitcoin i still banned anywhere, although most of the countries have no statement about bitcoin but still it does not mean that they have banned bitcoin. hope that ver soon they will consider bitcoin as legal currency of the world.

No, there are countries where Bitcoin is illegal to use and you will be penalized if you own it. I don't know if that law is being  respected or not though.
For instance bitcoin used to be illegal in Thailand, in 2013 Bank of Thailand declared bitcoin illegal, they changed their stance in 2016 where they said that it is not illegal but still advised against using it.
Bitcoin was briefly banned in Russia and Indonesia too. Currently Bitcoin is banned in Ecuador, Bolivia and Vietnam.

Recently India stated it as illegal, though no strict policy has been fixed, neither it is banned.

Now if its banned then, people will find ways to use it, but number of users will decrease

[choppork]

I think that is impossible because every country is processing how to legalized the bitcoin in their country so the banning point is not the part of it, They are preparing to adopt the bitcoin in every country. In our country the bitcoin industry is still rising and there are some companies raise their bitcoin wallet exclusive in our region I think Asia continent is allowed to use it, it have a instant cash out where you bitcoin can be converted into cash instantly, the bitcoin is still growing in every country so I think no country will ban it.

Just because you live in a bitcoin-friendly country, doesn't mean that "every country" is processing how to legalize it. Remember the PBoC issue that made the price go from $1,135 to $760. I think that's a clear sign that China was not necessarily "preparing to legalize" bitcoins. I think it will be best if you include a link that says that "every country" are actually processing how to legalize bitcoin. Because if they really are prepping for that, then there should be international meeting on how they are going to legalize it.

We are still far from that point that the government has accepted that bitcoin is the king and their fiat is nothing compared to it. Too far that legalizing bitcoins is out of the picture.

Other countries have much larger issues to solve than legalizing bitcoins. We are barely a million users and they can't collect tax from it. The government can't gain anything from it, so why even bother thinking about it.

[ASHLIUSZ]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

i do not think that bitcoin i still banned anywhere, although most of the countries have no statement about bitcoin but still it does not mean that they have banned bitcoin. hope that ver soon they will consider bitcoin as legal currency of the world.

No, there are countries where Bitcoin is illegal to use and you will be penalized if you own it. I don't know if that law is being  respected or not though.
For instance bitcoin used to be illegal in Thailand, in 2013 Bank of Thailand declared bitcoin illegal, they changed their stance in 2016 where they said that it is not illegal but still advised against using it.
Bitcoin was briefly banned in Russia and Indonesia too. Currently Bitcoin is banned in Ecuador, Bolivia and Vietnam.

Recently India stated it as illegal, though no strict policy has been fixed, neither it is banned.

Now if its banned then, people will find ways to use it, but number of users will decrease

It's not stated as an illegal asset, it's been taken forward to the government's view about such an existence of digital currency. But no regulations were made to completely stop the bitcoin use within the country as it doesn't make any impact on the economy.

[DoublerHunter]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

i do not think that bitcoin i still banned anywhere, although most of the countries have no statement about bitcoin but still it does not mean that they have banned bitcoin. hope that ver soon they will consider bitcoin as legal currency of the world.

No, there are countries where Bitcoin is illegal to use and you will be penalized if you own it. I don't know if that law is being  respected or not though.
For instance bitcoin used to be illegal in Thailand, in 2013 Bank of Thailand declared bitcoin illegal, they changed their stance in 2016 where they said that it is not illegal but still advised against using it.
Bitcoin was briefly banned in Russia and Indonesia too. Currently Bitcoin is banned in Ecuador, Bolivia and Vietnam.

Recently India stated it as illegal, though no strict policy has been fixed, neither it is banned.

Now if its banned then, people will find ways to use it, but number of users will decrease

It's not stated as an illegal asset, it's been taken forward to the government's view about such an existence of digital currency. But no regulations were made to completely stop the bitcoin use within the country as it doesn't make any impact on the economy.

Yes there is no law or legal regulations that is against bitcoin and has a right to completely stop it from being used in the country. The only thing that makes bitcoin illegal are those underground people who use it as a payment method to do things illegal like buying and selling drugs and because of that it make government thinks that it is a bad thing to be in their country and they banned them but they didn't imagine that they need to ban or arrest those people and not bitcoin.

[CoinFoxs]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

Bitcoin is banned in some countries due to decentralizatrion, no central government or power control bitcoin so some country's government thought if they legal the use of bitcoin then people would use it in an  illegal activities because they know no taxes are applied on bitcoin. That's the reason but there is no effect of that country's banned on bitcoin's importance, more people start using it after that ban.

[lemonade09]

Nothing would happened if the bitcoin was banned it just mean that no btc anymore and you cant earn anymore means no money for you..,, no mining at all. But at this rate the bitcoin was so successful and the cryptocurrency was so high 1 bitcoin cost a lot of money and it is now very popular in all over the globe so maybe it can be banned in some country but many people uses bitcoin maybe the exchange rate was so high at the coming year so there will be low chance of banning the bitcoin.

[BeGoods]

I think there will be a lot of people going bankrupt and unemployed because now a lot of people have spent a lot of money to invest in bitcoins, they see bitcoin as their official job. If the banned bitcoin would have a very serious economic impact on many people, however, I think the banned bitcoin is unlikely. Bitcoin is not under his control, banning it is not possible, it can only automatically disappear but i think this is impossible

I think it will not make people bankrupt. banned will result confidence of potential users and user itself. but it will not make people stop to use bitcoin because they are still able to access the bitcoin

[wxa7115]

How you mean bitcoin becomed illegall?? That is impossible because there are about 100 countries in the world so bitcoin cant become fully banned so it will always stay with us and it is too important coin to be just banned in second.

One of the reasons why bitcoin can not be banned is the feature of the blockchain system. It simply can not be taken and banned. The government does not have such an opportunity.
So I'm not worried about it.

You are correct when you talk about bitcoin not being subject to being confiscated because of its decentralized nature, but bitcoin can be banned if there is an effort by a world power like the United States to ban it, many countries are going to follow just to being kept in the good grace of the United States.

[posternat]

Well in some countries, Bitcoin is banned. But eventhough they don't encourageusing it, there are still lots of people using it in secret. They cannot monitor who uses Bitcoin because one of its characteristics is you can use it even without proper identification of the user.

because bitcoin anonymous then user identity in bitcoin will not be known. So even if the country banned the use bitcoin you can still easily use bitcoin with freely

Really, it is true? Some countries ban the bitcoin?
May be their government not accept the bitcoin in official level. But i never hear that any country ban the bitcoin. But you are right, if any government ban it than we could use it online easily.

[virasog]

I think that will not happen, because there are too many people interested in BTC

I agree with you that it has lots of supporters.
You know what bitcoin is banned to some other countries yet the people who lives there are still using it and collecting bitcoin, so even they banned bitcoin still there is no effect to it, no one can beat it unless it shutted down by the developer.

[NEWGOODOUBLE]

It would still be used, just like drugs are just as used as before the supposed war on drugs began.  The only thing it would change is that the price would drop as big investors and traders (people doing legal things) take their money out of it.

yeah banned will not make bitcoin die. users can still use it freely besides bitcoin anonymousm so users will not be visible even if its use is prohibited

[mornabo]

I think there will be a lot of people going bankrupt and unemployed because now a lot of people have spent a lot of money to invest in bitcoins, they see bitcoin as their official job. If the banned bitcoin would have a very serious economic impact on many people, however, I think the banned bitcoin is unlikely. Bitcoin is not under his control, banning it is not possible, it can only automatically disappear but i think this is impossible

Nope you can see today there are many countries that have banned bitcoin because they assume that bitcoin harm them. but this time it is still above the bitcoin price of $ 1000?

[Ziskinberg]

I think there will be a lot of people going bankrupt and unemployed because now a lot of people have spent a lot of money to invest in bitcoins, they see bitcoin as their official job. If the banned bitcoin would have a very serious economic impact on many people, however, I think the banned bitcoin is unlikely. Bitcoin is not under his control, banning it is not possible, it can only automatically disappear but i think this is impossible

Nope you can see today there are many countries that have banned bitcoin because they assume that bitcoin harm them. but this time it is still above the bitcoin price of $ 1000?

You said many countries already banned bitcoin, may I ask you what countries in particular? It doesn't show so much with the price actually because if it's many it would cause panic and we will not see this price now, in fact there is a good chance that the value will continue to increase as we are approaching to the $1,200 again this year. All I can say is that this year will be a good year for bitcoin.

[FiiNALiZE]

Banning Bitcoin won't matter much, there is usually plenty of other methods when we have situations like this. Bitcoin is used by many people in the world whether it be the geeks or regular civilians -Bitcoin will be circulating as long as there is an interest in the supply.
Most people want to have as much Bitcoins as they could get only because they'll see the price increase then they could purchase more things with the amount of coins that they have stored up.
The Government wants fiat to survive, Bitcoin could survive with that because it makes no difference if it does or not.

[delliaerd]

Banning Bitcoin won't matter much, there is usually plenty of other methods when we have situations like this. Bitcoin is used by many people in the world whether it be the geeks or regular civilians -Bitcoin will be circulating as long as there is an interest in the supply.
Most people want to have as much Bitcoins as they could get only because they'll see the price increase then they could purchase more things with the amount of coins that they have stored up.
The Government wants fiat to survive, Bitcoin could survive with that because it makes no difference if it does or not.

Yes, I agree With that. banning Bitcoin won't matter much, But This will make bitcoin take longer to get mass adoption. however the public will be a little afraid to use bitcoin if it is banned, even though they do not need to be afraid because bitcoin is anonymous. Psychologically it's just going a little bit scared. banned or not I believe bitcoin will still get mass adoption.

[1Referee]

Nope you can see today there are many countries that have banned bitcoin because they assume that bitcoin harm them. but this time it is still above the bitcoin price of $ 1000?

Please, from the "many" countries that have banned Bitcoin according to you, list at least 4 or 5 of the largest countries that have done so. I am talking about a total ban, and not a ban that only applies to financial institutions or businesses in general operating there. In most cases the term ban is greatly exaggerated by news sites, just to attract potential readers. Don't swallow everything so easily.

[Bitcoin0916]

I think it depends on the user, if they are loyal certainly will have no effect, this time my country also banned bitcoin so I used the exchanger from abroad to buy and sell bitcoin.

[TastyChillySauce00]

I think it depends on the user, if they are loyal certainly will have no effect, this time my country also banned bitcoin so I used the exchanger from abroad to buy and sell bitcoin.

Loyalty will eventually fade when the mass banning against bitcoin also carry the regulations which may heavily burden the users or even could drive the bitcoin users into the real prison. Well, if bitcoin is going to be banned by my country, as long as there's no such strict rules against it, I can still improve and secretly using it.