denny27
Full Member
 Offline
Activity: 546
Merit: 101
★Bitvest.io★ Play Plinko or Invest!
|
 |
September 04, 2017, 05:33:44 AM |
|
Bitcoin in banned seems to me, it's a small possibility. But it seems that if it happens, certainly there will be a restraining from certain parties. For example one country forbids, there are still users in other countries who accept payments with BTC because the payment system is peer to peer and there is no need for third parties and i think for surely will defend it / stay support for the using of bitcoin.
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
Gabrieelle
|
|
September 04, 2017, 05:44:19 AM |
|
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 criminality rate will increase of every country that banned bitcoin. We all know that many people use to earn bitcoin because its easy to earn and it has a high value. So if the government tries to ban the bitcoin people will find some other job and it might be illegal. |
|
|
|
|
|
pushups44
|
|
September 04, 2017, 05:49:29 AM |
|
As with all other forms of prohibition, the banning of bitcoin would merely stimulate a black market for the digital currency. At this point the genie is out of the bottle, and there's no turning back. Bitcoin is a legitimate currency, as Japan has recognized. Some nations will ban it, which will only hurt them in the long run.
|
|
|
|
|
Razick
Legendary
Offline
Activity: 1330
Merit: 1003
|
|
September 04, 2017, 05:58:30 AM |
|
As with all other forms of prohibition, the banning of bitcoin would merely stimulate a black market for the digital currency. At this point the genie is out of the bottle, and there's no turning back. Bitcoin is a legitimate currency, as Japan has recognized. Some nations will ban it, which will only hurt them in the long run.
Yep, Bitcoin won't go away if it gets banned. It is nearly impossible to monitor. The government doesn't have the resources to keep up and track every Bitcoin transaction, so it would still be used. With that said though, it would definitely hurt Bitcoin a lot, because many people follow exactly what the government tells them in terms of propaganda... and if they made Bitcoin out to be something shady that was illegal or only used to buy illegal things then it would not be good. Like you said, any government that does this will end up regretting it in the end. |
ACCOUNT RECOVERED 4/27/2020. Account was previously hacked sometime in 2017. Posts between 12/31/2016 and 4/27/2020 are NOT LEGITIMATE.
|
|
|
|
mornabo
|
|
September 04, 2017, 06:35:39 AM |
|
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 is impossible for bitcoins to be illegal. Why? Simply because many people or even organizations depend and earn from here. Also the government will benefit from here. Yet the good things is if this will be illegal the value of it will increased and get higher. lol I think the government is very likely to ban the use of bitcoin, of course the government has a lot of smart people and they would certainly consider it mature, if bitcoin has a bad influence of course they will ban the bitcoin indiscriminately |
|
|
|
|
MackOfAllTrades
Newbie
Offline
Activity: 14
Merit: 0
|
|
September 04, 2017, 07:56:05 AM |
|
Though it is unlikely to happen since many large corporations are now embracing the blockchain technology, banning BTC will do more harm than good. Imagine the chaos and rage from those folks who dedicated/depended their entire life in this cryptocurrency. Cheers  |
|
|
|
|
pugman
Legendary
Offline
Activity: 2383
Merit: 1551
dogs are cute.
|
|
September 04, 2017, 08:05:59 AM |
|
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?
Probably bitcoiners on and off this forum would kind of do a rally,or a strike kind of thing i think. And there would be a huge loss and prices and stock market will either crash or go to the roof,so it will be a bad move for the governments ,and there is a possibility for any other altcoin to take bitcoin's place,or god forbid something worse than that. |
|
|
|
WaterPower
Newbie
Offline
Activity: 41
Merit: 0
|
|
September 04, 2017, 08:36:16 AM |
|
Outrage at first, followed by the community making up ways to bypass this restriction. Obviously, many people would value their bitcoin.
|
|
|
|
|
DAVETUN
Full Member
Offline
Activity: 728
Merit: 101
Bitcoin is the currency of this age
|
|
September 04, 2017, 09:40:24 AM |
|
This is practically impossible,in as much as government can't shut down the internet,the world is a global village,government influence and rules is limited in the cryptocurrency world
Bitcoin cannot be ban,I see government all over the world accepting bitcoin and other altcoin
Crytocurrenct market is here to stay.
|
|
|
|
|
|
iMark
|
|
September 04, 2017, 03:30:33 PM |
|
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 is impossible for bitcoins to be illegal. Why? Simply because many people or even organizations depend and earn from here. Also the government will benefit from here. Yet the good things is if this will be illegal the value of it will increased and get higher. Lol I think the government will not pay attention to it, if bitcoin has a devastating effect on the government in particular, even though it is beneficial to their community. of course they will ban it, and besides when you write about "the government will not possibly ban bitcoin", in fact some countries have been banned the use of bitcoin in their country. |
|
|
|
|
|
conected
|
|
September 04, 2017, 03:46:47 PM |
|
As with all other forms of prohibition, the banning of bitcoin would merely stimulate a black market for the digital currency. At this point the genie is out of the bottle, and there's no turning back. Bitcoin is a legitimate currency, as Japan has recognized. Some nations will ban it, which will only hurt them in the long run.
Yep, Bitcoin won't go away if it gets banned. It is nearly impossible to monitor. The government doesn't have the resources to keep up and track every Bitcoin transaction, so it would still be used. With that said though, it would definitely hurt Bitcoin a lot, because many people follow exactly what the government tells them in terms of propaganda... and if they made Bitcoin out to be something shady that was illegal or only used to buy illegal things then it would not be good. Like you said, any government that does this will end up regretting it in the end. - Well, Bitcoin is not in the administration of the law, the government can not control it and if they ban Bitcoin, other people will also use it normally, the government can not do anything, turn off the internet, I do not think this is a good idea. In addition, bitcoin is proving its value and potential, it has a huge impact on the economy, many countries are considering to accept and use it, banned bitcoin is not possible, so they are thinking of helping bitcoin more popular to support the economy |
|
|
|
|
Smarty14392
|
|
September 06, 2017, 10:50:58 AM |
|
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 is impossible for bitcoins to be illegal. Why? Simply because many people or even organizations depend and earn from here. Also the government will benefit from here. Yet the good things is if this will be illegal the value of it will increased and get higher. lol I think the government is very likely to ban the use of bitcoin, of course the government has a lot of smart people and they would certainly consider it mature, if bitcoin has a bad influence of course they will ban the bitcoin indiscriminately It depends on what government is in consideration. Not all the governments of the world are against bitcoins. If we talk about Japan, North Korea, China, Philippines, USA, etc we all know that their political leaders have already heard about bitcoins and they have not banned it yet in their respective countries. |
|
|
|
|
Bilbo Baggins
Newbie
Offline
Activity: 42
Merit: 0
|
|
September 06, 2017, 11:06:04 AM |
|
A total worldwide ban is unimaginable and unrealistic, maybe a restricted use or increased scrutiny and taxation would be a better viable option.
The stronger bitcoin gets, the more the governments would want a piece of it.
|
|
|
|
|
|
Blackwhite69
|
|
September 06, 2017, 11:11:59 AM |
|
A total worldwide ban is unimaginable and unrealistic, maybe a restricted use or increased scrutiny and taxation would be a better viable option.
The stronger bitcoin gets, the more the governments would want a piece of it.
That right, if it happens then to access bitcoin will get the tighter treatment and it may be time people will not be able to get bitcoin and use it. |
|
|
|
|
|
Cacaparg
|
|
September 06, 2017, 11:12:56 AM |
|
I thin bitcoin hase only one direction rise and rise.
I can not imagine what happend with the world if bitcoin will be crashed.
There are a lot of billions invested in bitcoin bussines so i think Big Father will not allow to ban bitcoin.
|
|
|
|
|
|
A1exander
|
|
September 06, 2017, 11:18:22 AM |
|
Worldwide ban is impossible. I suspect that the governments of some countries are already using bitcoin, but not openly. It is a very good tool for funding something that should not be known to general public.
|
|
|
|
|
sosobtc-Regina
Newbie
Offline
Activity: 53
Merit: 0
|
|
September 06, 2017, 11:24:19 AM |
|
Never happened.
|
|
|
|
|
daadi059
Member
Offline
Activity: 91
Merit: 100
|
|
September 06, 2017, 11:28:20 AM |
|
Like China before a certain time, Russia has banned bitcoins into the country and now it has regained the ban. They have plans to make it a donation to their financial system through Blockchain technology. It is possible that in the coming years the bitcoin ban will not be there.
|
|
|
|
|
|
GuppyMan
|
|
September 06, 2017, 11:31:02 AM |
|
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?
People will continue to trade, only in the shade. What gives a small profit can never be crushed by anything, will find ways to solve this problem. They will not completely disconnect the Internet or crawl into users' computers, even traffic is difficult to track. |
|
|
|
bitcoinskyrocket09
Member
Offline
Activity: 239
Merit: 10
|
|
September 06, 2017, 11:51:07 AM |
|
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 "banned" means stopped i will be sad, angry and frostrated. After all the effort i had invested and the time. I'm not even yet having money from bitcoin and it will just be banned in an instant. So i hope it would not happen to bitcoin because i'm not the only one affected but for all the people who is depend in bitcoin. |
|
|
|
|
|
