Effects of Banning Bitcoin ?

[groll]

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,

In some news, bitcoins are banned in some country, i dont really understand why the gobernment of some country are against of digital currency, is it because bitcoins have no tax? Well they can make a resolution on that if that is thier only reason. If they think banning bitcoins can prevent people from using it, i think they are wrong. They are just teaching people to use bitcoins illegally.

[Roboabhishek]

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.

lol !! If the price reaches 1 mil then i would buy a mansion for me like play boy has 
And i will throw party every day..
But sadly there's no chance for bitcoin to reach that price in in these 100 years so lets be happy with 750 $ Price

[mrkevio]

As the mass media will publish this piece of news everywhere around the world, because people are easily manipulated by them, the effects aren't going to be good for sure. The mainstream media will give Bitcoin a bad look if this happens, so people will stay away from us. There are billions of people who do not know about this method of staying anonymous, to stay free from the governments and just be on your own.

[charmingfreddie]

Banning bitcoin will make it more popular, especially during/after a financial crisis. How can they stop it? They cant!

[Rooster101]

I think it will be hard for every government to ban  bitcoin unless they totally ban the internet. Bitcoin is digital currency and as long as the internet exist, the bitcoin will also exist and the people will continue to use it as long as there is internet available in their area. But assuming that they had successfully ban the bitcoin, there will be effect on its price, investments and digital wallets and internet merchants that use bitcoins will also affected.

[MONKEYJUNK]

I think it will be hard for every government to ban  bitcoin unless they totally ban the internet. Bitcoin is digital currency and as long as the internet exist, the bitcoin will also exist and the people will continue to use it as long as there is internet available in their area. But assuming that they had successfully ban the bitcoin, there will be effect on its price, investments and digital wallets and internet merchants that use bitcoins will also affected.

They can ban exchanges only so people can't trade their bitcoins for fiat and a lot of people do this because we don't have much options to buy things and pay bills for example with bitcoin.

And well, if was banned, you will find zero regulated services accepting bitcoin.

[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.

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,

In some news, bitcoins are banned in some country, i dont really understand why the government of some country are against of digital currency, is it because bitcoins have no tax? Well they can make a resolution on that if that is thier only reason. If they think banning bitcoins can prevent people from using it, i think they are wrong. They are just teaching people to use bitcoins illegally.

There are a number of reasons why the authorities are having sleepless nights over bitcoin and some other cryptocurrencies and the tax issue is one of them. The main reason, however is that bitcoin came and opened our eyes that government and their agents, have been enslaving us financially. The worse is that bitcoin also provides the way to shut government out of our transactions.

That power to monitor and control people's finances means so much to the government and losing it, is not something they are prepared to come to terms with, so attempts by government and its agents to snuff out live from bitcoin is something to expect, however there getting away with it is a matter for another day.

[stark101]

Although there is nothing that can stop a government or central bank from banning bitcoin but banning bitcoin is very difficult to enforce. Why? because bitcoin has no centre to attack, there is no single organization or person that controls Bitcoin, and theres no way for the users to stop their transactions by pay outing or sending each others bitcoins. But of course, it is also likely that a ban on bitcoin in a country can have a negative effect on adoption on the country.

[talkbitcoin]

bitcoin has been making lots of sounds in the past years from the start and it has been getting more and more popular and those countries that wanted to ban it have already done it and those which wanted to embrace it has also done it by legally announcing that bitcoin is a legit currency like what Japan did so i wouldn't worry too much about bitcoin getting banned at this point.

[btcdiggingmaster]

It is eight years old one now a days many people are using technology of bitcoin by many countries on daily basis for smoother transactions, in some countries they have already provided bitcoin atm machines and in some countries the government are legalizing the bitcoin as one of digital currency as one of the commodity like gold because in near future evry thing in the form of digital currency only. So banning of bitcoin is not an easy one to do that.

But i hope many countries will definitely make this bitcoin as one of legal commodity very soon.

[betohell]

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,

I think it may be bitcoin could be banned especially bitcoin have decentralized nature of course governmenrt will be difficult to control bitcoin, but I think it does not need to be afraid of it, bitcoin will still be alive despite many countries prohibit bitcoin

[Blackdeath]

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.

There is actually nothing the government to stop bitcoin since it was not illegal it it was suppoerted by many countries. It helps a country like China to improve and develop their country's economy. So banning bitcoin in a country doesen't stop or affect that much its users.

[wedatin]

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.

There is actually nothing the government to stop bitcoin since it was not illegal it it was suppoerted by many countries. It helps a country like China to improve and develop their country's economy. So banning bitcoin in a country doesen't stop or affect that much its users.

Bitcoin is a legal property. It is recognised as a commodity in some countries. It is also a currency in other countries.

[Shenzou]

I really think if bitcoin gets banned from some countries it will still be used , in fact if governments make bitcoin illegal the price will go higher , so bitcoin is used by lots of people from us china and Europe so even if they are banned in some areas of these countries the bitcoin activity is still getting higer

[rajasumi3]

If bitcoins are banned people will suicide a lot who have invested a lot of money on it .on the other hand some people might even do which may be considered as black money ,or the people may fled away to other bitcoin friendly countries.

[HateEU]

If your country ban bitcoin i think that you can still earn bitcoin and life good.How your couuntry can controll your secret bitcoin wallets?If you use bitcoin and send to skrill or paypal or other your country cant see your transaction and you are winner.

[Rahar02]

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?
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.

First, I have never heard about some countries already banned bitcoin, which countries that you know forbid their citizens to deal with bitcoin?
Sec, I'm curious too why government have desire to destroy bitcoin? Bitcoin bring positive impact to people and financial economics due to many people could earn money and a lot ofbusiness started accepted/adopted bitcoin payment and bitcoin doesn't harm the government.
I thought bitcoin will be fine, nothing to worry about.

[20kevin20]

If your country ban bitcoin i think that you can still earn bitcoin and life good.How your couuntry can controll your secret bitcoin wallets?If you use bitcoin and send to skrill or paypal or other your country cant see your transaction and you are winner.

Your ISP provider can look on your Internet browsing history and find out if you are using Bitcoin in such an easy way. You are being monitored by your ISP and your data can be sent to anyone at any time. This is why I hate the governments seeking for control...... Why can't we just have freedom?

[coinplus]

As the mass media will publish this piece of news everywhere around the world, because people are easily manipulated by them, the effects aren't going to be good for sure. The mainstream media will give Bitcoin a bad look if this happens, so people will stay away from us. There are billions of people who do not know about this method of staying anonymous, to stay free from the governments and just be on your own.

Honestly I feel this is pretty impossible to ban bitcoins because bitcoins cannot be traced so suppose any country bans bitcoins how would they know that someone is using bitcoins because its quite impossible to trace any transaction.

Moreover banning would mean actually that government does not support bitcoins, which right now also most countries do not.

[puddlejumperzz]

Banning bitcoin is free more advertising. Everybody is going to want to know what the government is afraid of.  Usually the ones that ban it are in the countries that need it most.