Effects of Banning Bitcoin ?

[mafgwaf@gmail.com]

Bitcoin is extremely hard to ban. The decentralised nature of Bitcoin allows users to connect to a variety of nodes to transmit and receive information. Due to the large number of nodes, the government will have an extremely hard time to ban the nodes. Even if the government were to try and use DPI, users can switch to stronger encryption methods and connect via VPN. Attempting to ban it will just push it further underground, making it hard to regulate.

Agree, these banning   implementations would  really force the  people  or  bitcoin users   to  do  underground transactions which  would really   make hard for them  to trace even more.  It would be really useless on this   kind of  idea ,  its better to adopt  bitcoin than  to  ban it   but well, governments on each  country  do really differ regarding  on the insight of such thing  like bitcoin.

The technology today was really hi tech. To the point that digital currency has been made for alternative payment. I think banning bitcoins is not a solution. But instead of, the government should adopt bitcoins because it helps a lot of people to earn money in bitcoins even at low price. If they pursue to banned bitcoins, i think many of bitcoin users will go to more illegal transactions.

Yah, If bitcoin will be banned. all the transaction in bitcoin is illegal even transfering low quantity of bitcoins. Banning of bitcoin is not a good idea. Its better for the government to adopt it and add some fee that the government will get

[TraderETH]

Bitcoin will become stagnant if all major countries were to ban it because it would then only be a black market currency. The best scenario is for bitcoin to be legal but will only minor regulation so it can be used by the mainstream but still be out of the control of banks and the government.

I don't think so, usually if all major countries were to ban bitcoin, bitcoin's price usually going down although it is just for short term and it will become rebounce again. Because banning of bitcoins has been happened but bitcoin still be survive for right now.

[BlackPanda]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

[delliaerd]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

[mirakal]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

True, it does not necessary mean that we are just transacting in a certain country, bitcoin is global and we can transact with different people online therefore it's a great coins. There's nothing to worry if it's ban because it's online and there's a lot of ways to use online like gambling.

[Oilacris]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

You could still able to access  sites  which  you do  have  bitcoins  transactions by  using  VPN and Tor  websites. Even they  banned  bitcoin site  on a particular country  but still  it cant  stop totally  bitcoin  users   to access it. No matter  how  hard  the government  would implement such rules  i think  it would be  useless because   for sure   underground  transactions   would be  really made.

[shinratensei_]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

I guess you need to consider the reality while since Russian was making legitimate for banning bitcoin, but actually, it was getting fail. Many of their civilians are still accessing bitcoin and no care about the government legal.
VPN, TOR, SOCKS 5.... the government hasn't done anything with this.

[Dudeperfect]

I won't be a much big of a problem, because bitcoin isn't controlled by any government so it cannot really ban from using it people will still use it. The only downside might be that bitcoin's price might not rise and instead drop.

Yes, any government cannot completely stop its citizens from using bitcoin they can just put ban on it on the grounds of law. However it might create damage for the goodwill of bitcoin and it might affect the popularity and indirectly price of bitcoin. Technically there won’t be much problem but there are many indirect effect of government approach towards bitcoin or any other crypto currency.

[Yuuto]

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.

Definitely. Bitcoin is designed to be functional, even without a government that says "you can do this but you can't do that". Essentially bitcoin itself is developed into a decentralized economy, which activity would thrive even though the government may want to ban bitcoin.

And there is really no way for a government to ban bitcoin completely, as it is difficult to shut down due to the decentralized and peer to peer protocol that this payment system bitcoin is built on.

[ethereumhunter]

Bitcoin will become stagnant if all major countries were to ban it because it would then only be a black market currency. The best scenario is for bitcoin to be legal but will only minor regulation so it can be used by the mainstream but still be out of the control of banks and the government.

I don't think so, usually if all major countries were to ban bitcoin, bitcoin's price usually going down although it is just for short term and it will become rebounce again. Because banning of bitcoins has been happened but bitcoin still be survive for right now.

yes its true and even bitcoin is banned for many country, i think there is still many people want to use bitcoin in many ways because bitcoin is not about in one country and not depend with anything, its about freedom to use our bitcoin and i think the most people will agree with these.

[delliaerd]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

You could still able to access  sites  which  you do  have  bitcoins  transactions by  using  VPN and Tor  websites. Even they  banned  bitcoin site  on a particular country  but still  it cant  stop totally  bitcoin  users   to access it. No matter  how  hard  the government  would implement such rules  i think  it would be  useless because   for sure   underground  transactions   would be  really made.

Hmm i think that is not bad idea to solve the problem about banning the bitcoin transactions access in country server. I ever know what is vpn and how it work from browsing on internet. That someone can fake the own IP into another country server.
May be in the transactions of bitcoin there is no affects if the government banning bitcoin when we see on server aspect.

[Roboabhishek]

If bitcoin is really banned then i am sure that people will start using other virtual currencies like ETH.

[sempak]

until now I have not felt sure there is a country that does banning the bitcoin. and if they are then it will not be a big impact, because of the nature bitcoin as a payment instrument that is used throughout the world today.

[audaciousbeing]

What we are facing now is  a situation of laws silent of Bitcoin. For those who are of the opinion that bans will not have any effect on Bitcoin are definitely not being sincere because quite a number of people wont want to find themselves on the other side of the law{ thats explain while some gambling sites and exchange sites will intentionally exclude some Nationals of some countries from using their services} according to history even though I was not exposed to Bitcoin world as at then that the price of Bitcoin crashed as a result of its ban in China which its still trying to recover now imagine the impact if about 10 countries ban it all together.

[croutonhexagon]

May be Satoshi is in dark waiting for price to reach 1 million so that he could sell his bitcoin and become the next billionaire but if it happens then we might see him on this world because then he should have to work hard to find money.

[TheUltraElite]

If bitcoin is really banned then i am sure that people will start using other virtual currencies like ETH.

Maybe yes then the price of other currencies will increase in that particular country. Maybe they are marketing methods to cause an increase in that local market by the author of the other coin - example of sabotage.

Otherwise banning the blockchain technology is technically not impossible - the only way to do that is to block internet access in that country.

[Harlot]

although banned in some countries I think bitcoin will still be used. because users bitcoin is anonymouse. so it is difficult to restrict the use of bitcoin. we are all free to use bitcoin, because bitcoin does not have a centralized system. we are all free to do various transactions that we want.

I can't totally agree with you dude, when government really banned bitcoin and prohibited everyone use bitcoin. You potentially cab not use it at all. Because the government have an authority to ban where the bitcoin transactions is doing, they ban that site for access in the whole of country. So may be you can not use bitcoin. The government may be also use another actions more than that.

You could still able to access  sites  which  you do  have  bitcoins  transactions by  using  VPN and Tor  websites. Even they  banned  bitcoin site  on a particular country  but still  it cant  stop totally  bitcoin  users   to access it. No matter  how  hard  the government  would implement such rules  i think  it would be  useless because   for sure   underground  transactions   would be  really made.

Hmm i think that is not bad idea to solve the problem about banning the bitcoin transactions access in country server. I ever know what is vpn and how it work from browsing on internet. That someone can fake the own IP into another country server.
May be in the transactions of bitcoin there is no affects if the government banning bitcoin when we see on server aspect.

The authority can do that but they will always be behind as Bitcoin is a virtual money, its transactions are always online, thousands of addresses to track can be a headache for them, not to mention all of the new sites related to Bitcoin it will be impossible for them to try to caught a big fish with it. I don't know why will you do such thing for a innovative currency, I guessed banning bitcoin worldwide will be impossible.

[Victorycoin]

We have seen the government of China and Russia attempting to declare bitcoin illegal and we know they did not get anywhere with it, instead bitcoin took center stage in both countries. It is now already to late for any government to want to ban bitcoin, because bitcoin has become mainstream and people are the wiser that change in the way we know and see money is inevitable.

Besides, at no time would all the government across the globe be able to reach an accord to ban bitcoin and one strong point, is that bitcoin is not tied to any one country or government. They are sure to come up with some funny laws to frustrate the freedom that bitcoin represents, but it is for us, the community to remind them that power actually belongs to the people.

[TheUltraElite]

We have seen the government of China and Russia attempting to declare bitcoin illegal and we know they did not get anywhere with it, instead bitcoin took center stage in both countries. It is now already to late for any government to want to ban bitcoin, because bitcoin has become mainstream and people are the wiser that change in the way we know and see money is inevitable.

Besides, at no time would all the government across the globe be able to reach an accord to ban bitcoin and one strong point, is that bitcoin is not tied to any one country or government. They are sure to come up with some funny laws to frustrate the freedom that bitcoin represents, but it is for us, the community to remind them that power actually belongs to the people.

One day crypto will take over the people. However it is tough for the older generation to accept its safety and that such thing really exists. Most of the bitcoin users are young-middle aged people. Less tech-savvy people have never even heard about it (there might be exceptions as well).

Still its good to see that banning bitcoin is these countries did not have good effect. I am sure crypto will gradually emerge as the new mode of primary transaction in these countries.

[bitllionaire]

We have seen the government of China and Russia attempting to declare bitcoin illegal and we know they did not get anywhere with it, instead bitcoin took center stage in both countries. It is now already to late for any government to want to ban bitcoin, because bitcoin has become mainstream and people are the wiser that change in the way we know and see money is inevitable.

Besides, at no time would all the government across the globe be able to reach an accord to ban bitcoin and one strong point, is that bitcoin is not tied to any one country or government. They are sure to come up with some funny laws to frustrate the freedom that bitcoin represents, but it is for us, the community to remind them that power actually belongs to the people.

One day crypto will take over the people. However it is tough for the older generation to accept its safety and that such thing really exists. Most of the bitcoin users are young-middle aged people. Less tech-savvy people have never even heard about it (there might be exceptions as well).

Still its good to see that banning bitcoin is these countries did not have good effect. I am sure crypto will gradually emerge as the new mode of primary transaction in these countries.

i think bitcoin is not banned in any country and not going to be banned in future, hope that in future states are going to consider bitcoin as legal currency and then more and more people will enter in the world of bitcoin,