Effects of Banning Bitcoin ?

[wedatin]

No, Russia has changed the law related BTC. They are now accepting BTC.

This decision proves that banning BTC in a country is not only not possible, but also not a smart decision because the countries that adapt BTC earlier will profit more in the future.

Do you have the reference for the unban of bitcoin in Russia. If that is true, the bitcoin will be very popular there.

[mrcash02]

No, Russia has changed the law related BTC. They are now accepting BTC.

This decision proves that banning BTC in a country is not only not possible, but also not a smart decision because the countries that adapt BTC earlier will profit more in the future.

Do you have the reference for the unban of bitcoin in Russia. If that is true, the bitcoin will be very popular there.

Well, they unbanned Bitcoin because they said "it poses no threat to Russia's financial system" (at least until now...)

https://news.hodlhodl.com/news/russian-deputy-finance-minister-bitcoin-poses-no-threat-to-russia-s-financial-system-520

But it's already very popular there. Many people in Russia likes to invest on Ponzi, HYIP schemes with virtual currencies, principally Bitcoins.
Not only because the Ponzi investors, but many people there likes to use it like people of any other country.

[HateNATO]

I think everthing will be good with bitcoin andd he will just grow and many pupils will become rich because of bitcoin.

[bhadz]

I think everthing will be good with bitcoin andd he will just grow and many pupils will become rich because of bitcoin.

You are out of the context, the thread is all about banning bitcoin and you are saying way too far from it.

I think the effect of it will startled the bitcoin people to keep on doing something to keep on the usage of bitcoin and no one will ever stop them from doing it because many are holders of bitcoin and they want to use for their own sake.

[hatshepsut93]

Okay so, bitcoin is outright banned in some countries, so the banning of bitcoin is already a reality. The major government including Russia, China, and the USA (just to name a few) could also ban bitcoin and cryptocoins in general. My questions to you guys are: What do you think will happen to bitcoin? If any, what is your plan of action and what would you like to see from the community in terms of continuation and development? Bitcoin probably will never die but the banning of bitcoin could change the whole dynamics (let alone a temporary major price dip).

I'll give my thoughts first. I think bitcoin will grow and develop into what we want it to be regardless of the legal status. Fundamentally what bitcoin represents is anti-authoritarian and governments banning of it should not much of an impact fundamentally. Sure the price will suffer for at least a while although still climb "to the moon" probably, but as far as technical development and social spreading goes, I think that will continue. Unfortunately that could mean that it operates in the black market only for a while which would slow things down but I do think that would be a temporary affect. I am curious though if the governments could have a strong enough desire to destroy bitcoin or prevent it from growing past a certain point, that they could actually do that. So I wonder what you guys' thoughts are.

This will significantly increase risks for exchanges, so they will impose bigger fees, also Bitcoin price will stay low, because big legal business won't be able to use Bitcoin, so demand for it will be low. Then governments will create their own controllable cryptocurrencies and will tell people that they are better than Bitcoin so the majority of population will switch to them.

[JeffBrad12]

Okay so, bitcoin is outright banned in some countries, so the banning of bitcoin is already a reality. The major government including Russia, China, and the USA (just to name a few) could also ban bitcoin and cryptocoins in general. My questions to you guys are: What do you think will happen to bitcoin? If any, what is your plan of action and what would you like to see from the community in terms of continuation and development? Bitcoin probably will never die but the banning of bitcoin could change the whole dynamics (let alone a temporary major price dip).

I'll give my thoughts first. I think bitcoin will grow and develop into what we want it to be regardless of the legal status. Fundamentally what bitcoin represents is anti-authoritarian and governments banning of it should not much of an impact fundamentally. Sure the price will suffer for at least a while although still climb "to the moon" probably, but as far as technical development and social spreading goes, I think that will continue. Unfortunately that could mean that it operates in the black market only for a while which would slow things down but I do think that would be a temporary affect. I am curious though if the governments could have a strong enough desire to destroy bitcoin or prevent it from growing past a certain point, that they could actually do that. So I wonder what you guys' thoughts are.

This will significantly increase risks for exchanges, so they will impose bigger fees, also Bitcoin price will stay low, because big legal business won't be able to use Bitcoin, so demand for it will be low. Then governments will create their own controllable cryptocurrencies and will tell people that they are better than Bitcoin so the majority of population will switch to them.

Will better if you try for reading some latest news about the countries are making any statement from banning bitcoin before.
For immediately they will be changing their over mind about bitcoin, and bitcoin already attracting the banning countries for allowing them in their environment, especially about the Russian are already change their mind about bitcoin, and how you need updating about the latest news.

[AgentofCoin]

The problem I am having with this discussion is you are ignoring everything I state and coming back to the same problem you have with my response. I have explained it and you have broaden the parameters and altered what I have said to make more issue. I never used these words "Western Countries,Normal or Democratic" when I made my statement and now you are requesting me to make a list. A list only furthers the issue because you are not able to get around the example or choosing to ignore the rest of the point.

You can easily google inhumane Countries with a background for cracking the whip or history. But the problem is I see the potential for all Countries to go down that route with the growing NWO philosophy that we all need to play under one set of rules. So you have issue with my philosophy I can understand that but I do not understand the need to keep beating a dead horse.
I will mention Russia since it on topic and should be pretty obvious. Will say that the USA also tortures its people but they do it through other Countries on foreign land. But that just opens up a debate that is more politically charged and a tad off topic.

As for the second question:
Do you think Bitcoin/bitcoin was designed to outmaneuver and survive in a tyrannical country?
       Or to go further, to outmaneuver and survive in a tyrannical world?

Tyrannical Country I do see the potential,but a tyrannical world not so much.
I think bitcoin was designed to help break the serfdom of the people to the banks and in doing so free us from government control. That is the short of it but I believe the potential is far less now with so many here that are driven by greed.

I'm not making more of an issue, I am only working through your own statement.
If you go onto a forum such as this, and make a comment, it is assumed that you are willing to back
it up or debate the issue, otherwise you are just a sig campaigner participating in the very greed you
are denouncing exists in the bitcoin community with unsupported garbage. (You are debating though).

After some clarification, you are saying that in your belief, there may be no distinction between a
tyrannical country like North Korea, which is murdering its own citizens, or Russia where there are no basic
rights of speech or press, and the leaders assassinate their political rivals, with the USA or other European
Countries which use rendition when interrogating non-citizen enemy combatants. Since that is your belief,
your original statement makes more sense, though I disagree with it. You are essentially arguing that all
governments and countries that exist today are equally guilty of being tyrannical, irrelevant on where
they fall on the scale.

So, when you stated originally: "Try to put your selves in the shoes of those that face far greater punishment
and you may see that bitcoin is more fleeting than you are lead to believe." what context should I understand
that within? The United States Citizens or North Korean Citizens? Both?

Satoshi only attempted to create a independent currency that could function without governmental regulation
within the confides of a world that supports basic human rights, not tyranny. Satoshi didn't create bitcoin to
free the poor and let them be their own bank in a country where there is outright oppression and restrictions.
Bitcoin can never realistically function on any worthy level in States where the government is monitoring and
restricting telecommunication and internet, and physically punish their citizens for any illegal use. So, in a NWO
situation Bitcoin could never survive and in fact can never be designed to do so. In that world, the bitcoin
blockchain and other blockchains will be used to monitor and oppress the people.

My only point was that when the average bitcoin user comments that "it is too hard to ban" or "governments can
never make bitcoin illegal" or "they can't stop bitcoin", they are usually voicing their opinions in countries where
they have the right to make such comments and where bitcoin can be used without "far greater punishment", so
your basis that bitcoin "is more fleeting than you are lead to believe" is only contingent upon the NWO becoming
a reality. But until that time, their simple opinions are currently correct.

The point may come across extreme and its bigger for effect due to reading responses that made me think people where not coming to the table with a full grasp of what could happen. Its like the threads that ponder why a third world Country is not running to bitcoin already! Its like a bias that does not allow people that have never been persecuted in any form to be able to see the glaring issue,being that survival is the main focus. So I made the point bigger to run the view home,sometimes I am unsure as well if I am dealing with sig spammers after reading responses.

I have a view of bitcoin users and it may be biased but I think it holds true like twitter users. White males between 18-35 from middle class families. This may seem like a generalization or a attack but I often find the depth of life experience can be lacking in the responses. Meaning a life that has not fully come to fruit and is still finding its way,nothing wrong with that either. It just offers a less worldly view like the kid that thinks the world is his street.
So with that in mind I sometimes over arc the point to get people to think outside the box more when they talk about bitcoin.
So to answer the question about who I am referencing,it is the North American kid that is riding bitcoin for the thrill of fast cash.

The hope I have for bitcoin is finding a way to run outside the internet or creating our own grid. So they crack down on a section it is instantly fixed in the way the brain compensates for neurons not firing after some brain damage. Not sure if that is a good example or not.

Bolded the last part because I was frustrated by our conversation because I did think we felt the same way about this issue.
We agree up to the point that I put on my tinfoil hat and say the NWO is hard at work and active. The trade agreements between multiple countries are
well planned attacks that will fracture Countries. Companies like Google will dictate policy after they have bankrupted the governments from lawsuits.
So it is closer then I would wish and I am the paranoid sort.
You do not like my example and I can understand the view you have on it.

We agree there are malicious and nefarious forces at work attempting to bring all types of systems
down, whether those systems are governments, computer networks, Bitcoin, or just an individual's rights.
And I agree with your belief that the average Bitcoin user is probably a white male between the ages of 18-35,
but unfortunately a large amount of them are more interested in the fast cash aspects then anything else. I think
many would easily decide to fully centralized the network, allow blacklisting of coins, destroy the immutability aspect,
and other things that IMO is anti-Bitcoin, as long as they can get a few hundred more on the exchange price. Majority
are looking in the very short term, and have no interest in the long unless it is seen as adding value toward the btc price.

I also hope that one day we can create a new type of system that Bitcoin could be applied to that could allow it to function
outside and not be dependent upon the internet, though currently I can't even imagining such a thing. If it is possible, I
would guess it will only come about way in the future (2035-2075 AD?) and would incorporate some type of subspace
communication like in Startrek. Then it would be unstoppable and be a true sci-fi futuristic currency.

Thanks for a more interesting conversation. We are mostly on the same page.

[genos]

I think everthing will be good with bitcoin andd he will just grow and many pupils will become rich because of bitcoin.

You are out of the context, the thread is all about banning bitcoin and you are saying way too far from it.

I think the effect of it will startled the bitcoin people to keep on doing something to keep on the usage of bitcoin and no one will ever stop them from doing it because many are holders of bitcoin and they want to use for their own sake.

Yes you are right. Bitcoin will not really banned if so many people still using bitcoin. Whatever goverment do for stop people from using bitcoin is in vain. People have freedom from access internet, even goverment cooperated with isp to banned bitcoin.

[Cusdonard]

I think everthing will be good with bitcoin andd he will just grow and many pupils will become rich because of bitcoin.

You are out of the context, the thread is all about banning bitcoin and you are saying way too far from it.

I think the effect of it will startled the bitcoin people to keep on doing something to keep on the usage of bitcoin and no one will ever stop them from doing it because many are holders of bitcoin and they want to use for their own sake.

Yes you are right. Bitcoin will not really banned if so many people still using bitcoin. Whatever goverment do for stop people from using bitcoin is in vain. People have freedom from access internet, even goverment cooperated with isp to banned bitcoin.

True. Unless the whole world bans bitcoin, it will stay relevant. Or possibly the whole internet gets killed or it organically destroys bitcoin connected transactions, then we will still see bitcoin being used.

[traderethereum]

I think everthing will be good with bitcoin andd he will just grow and many pupils will become rich because of bitcoin.

You are out of the context, the thread is all about banning bitcoin and you are saying way too far from it.

I think the effect of it will startled the bitcoin people to keep on doing something to keep on the usage of bitcoin and no one will ever stop them from doing it because many are holders of bitcoin and they want to use for their own sake.

Yes you are right. Bitcoin will not really banned if so many people still using bitcoin. Whatever goverment do for stop people from using bitcoin is in vain. People have freedom from access internet, even goverment cooperated with isp to banned bitcoin.

True. Unless the whole world bans bitcoin, it will stay relevant. Or possibly the whole internet gets killed or it organically destroys bitcoin connected transactions, then we will still see bitcoin being used.

if the whole world bans bitcoin, i am not sure that bitcoin community will not react. there will be something to do with the banned of bitcoin, so people still can use bitcoin. but its different if internet gets killed, and this can make anything in chaos, because for now, the technology is like primary need for every people, not just for people in office but people in home too.

[bL4nkcode]

If bitcoin is banned in this big country like USA and China well I don't think what will really happens to the bitcoin community, it will cause with big impact specially to the price but if just in small countries in asia or even in any place in the world, they can use VPN to access some bitcoin sites, the big problem is that its hard to convert bitcoin to your local currency if the government of your country banned bitcoin.

[betohell]

If bitcoin is banned in this big country like USA and China well I don't think what will really happens to the bitcoin community, it will cause with big impact specially to the price but if just in small countries in asia or even in any place in the world, they can use VPN to access some bitcoin sites, the big problem is that its hard to convert bitcoin to your local currency if the government of your country banned bitcoin.

I think it would not give such great effect. you can still access the bitcoin anywhere and use it with ease, because bitcoin does not need a legalization for life

[Zadicar]

If bitcoin is banned in this big country like USA and China well I don't think what will really happens to the bitcoin community, it will cause with big impact specially to the price but if just in small countries in asia or even in any place in the world, they can use VPN to access some bitcoin sites, the big problem is that its hard to convert bitcoin to your local currency if the government of your country banned bitcoin.

I think it would not give such great effect. you can still access the bitcoin anywhere and use it with ease, because bitcoin does not need a legalization for life

It may  give  a  blockage to  full adoption of bitcoin if  its banned from other countries but  as you mentioned   we can access  bitcoin anytime and anywhere without  being detected  by the government . Even though  we would  hardly cash in or exchange our  bitcoin  to cash  because it is banned you could always exchange it from other  people  but be sure to find   a trusted one.

[Fredomago]

If bitcoin is banned in this big country like USA and China well I don't think what will really happens to the bitcoin community, it will cause with big impact specially to the price but if just in small countries in asia or even in any place in the world, they can use VPN to access some bitcoin sites, the big problem is that its hard to convert bitcoin to your local currency if the government of your country banned bitcoin.

I think it would not give such great effect. you can still access the bitcoin anywhere and use it with ease, because bitcoin does not need a legalization for life

bitcoin is bitcoin it will recover for sure even it will blocked if we can remember the old days before its been recognize by many investors so for me no matter what will happen btc will keeps it anonymously service and there's still bitcoiner that will use it and will find other ways to communicate.

[carriebee]

Lots of people will feel sad once bitcoin will be banned.
Effects will gives a lot of impact to bitcoin users. That is
no earnings to anyone, cant pay bills via online using
bitcoin. Lastly, bitcoin has many advantages that could
give to anyone.

[Harlot]

Even banning bitcoin from certain countries does not stop the citizens of that country from using Bitcoin, As an example Russia banned Bitcoin but many HYIP sites are made in Russia and also showing that Russia is circling around 1-3 on visiting bitcoin related sites. Unless that country strictly implement the laws the Citizens won't stop using bitcoin.

[Mastsetad]

Even banning bitcoin from certain countries does not stop the citizens of that country from using Bitcoin, As an example Russia banned Bitcoin but many HYIP sites are made in Russia and also showing that Russia is circling around 1-3 on visiting bitcoin related sites. Unless that country strictly implement the laws the Citizens won't stop using bitcoin.

That is actually right that if someone is earning bitcoins or is addicted of bitcoins he wont stop using bitcoins even if it gets banned by the government but they will use some VPN or something to use it, never heard about Russian people using it but it is also banned in Bangladesh and i guess if there are lovers in there they would probably still use it.

[Carlsen]

I am convinced that even if the posession of bitcoin is declared to be illegeal in a country, people will not follow that law.
Technically it's hard to prove that someone owns bitcoins, at least if the owner understands a little bit of what he is doing with his coins.
The only way I can think of how a government can enforce such a law is to block the exchanges.
But that will only be successful for a short time.
Soon businesses in other countries will grow up that will handle the problem, against a little fee of course.

[Pursuer]

there is no reason for banning bitcoin. and even if there is chance only those extreme countries with a technically challenged government is going to consider banning bitcoin because of being scared of it. but other countries will continue treating bitcoin as a currency like Japan that announced it too.
besides people are going to continue using bitcoin no matter what the government says about it.

[jack1111]

I have opposite opinion, while you are speaking about Bitcoin banning, many governments are thinking seriousely in regulating Bitcoin, in addition I can name many countries that have regulated Bitcoin exchanges, Australia, Japan, and switzerland on the road, these countries are three of the most advanced countries in the world, I think Bitcoin or in general Fintech industry is moving forward.