Effects of Banning Bitcoin ?

[Pattart]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

nope i think this time user of bitcoin is still quite a bit you can prove it because of the price of bitcoin market is still very volatile and manipulated as it is still the user is still small, even when the bitcoin die even if it would not create chaos, because the volume of bitcoin is still quite low, even below than paypal

[Taki]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

Oh yes. I can imagine that mass panic. Many people are investing in bitcoin their money now, when the price is growing as crazy. And all are waiting to bitcoin at least doubled their money to withdraw. Just imagine that all your investments get banned.

[mirakal]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

Oh yes. I can imagine that mass panic. Many people are investing in bitcoin their money now, when the price is growing as crazy. And all are waiting to bitcoin at least doubled their money to withdraw. Just imagine that all your investments get banned.

They will miss the opportunity because bitcoin is ban in their area, while for us we can easily take it and all we need to do now is just to be a risk taker and believe in the future of bitcoin. We do not know the future and there's a possibility that our government might also ban bitcoin, so take this opportunity now while we are free to invest with bitcoin.

[bitllionaire]

For now no one country is going to ban bitcoin, I think bitcoin is going to be banned by all countries only in one case - when the price for bitcoin will rise extremely high. In that case many people will try to cash out their bitcoins and in some blaces it may be just not enough money for such transaction or at once many people will be rich.

Yes, no one country ban bitcoin but no one country accepted bitcoin. In my country using bitcoin is illegal because bitcoin can use for money laundry.

So money laundry started off with bitcoin or it has always been there well before bitcoin came on board? Now you know, the reason even those engaged in money laundry prefer bitcoin is because, bitcoin among other attributes, offers more secured, very cheap, instantaneous means for international monetary transactions and also the opportunity to make the transactions anonymous. People always prefer the best or do you know of any other money that comes close?

yes that can be fact, and that may be the reason that government will be thinking about bitcoin to turn it legalize as they cannot banned it because of the increasing interest of the people, and they must be thinking about how to control the money laundry through bitcoin.

[Bigdan]

I think it will rather have a positive effect on Bitcoin (i.e. It will activate the Streisand effect  ). I believe any attempt to ban Bitcoin by a government or a central bank can have the unintended consequence of making it even more popular especially among a demographic that had previously never heard of Bitcoin.

[nizamcc]

The only reason that makes it seem possible for the ban of bitcoins is, its use for terrorism and money-laundering. All we need is to stop the false people getting into this, else governments have a very strong reason to stop this as there are no records TBH which can prove whether the funds were transacted for a proper reason or for some wrong purposes.

[Fireblade]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

as the bitcoin users are increasing from time to time. therefore if bitcoin is banned by the government, they it will impost a bad effect on the income and life style of most fo the people.

[grandy]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

nope i think this time user of bitcoin is still quite a bit you can prove it because of the price of bitcoin market is still very volatile and manipulated as it is still the user is still small, even when the bitcoin die even if it would not create chaos, because the volume of bitcoin is still quite low, even below than paypal

the volume of bitcoin is increasing continously and that is the reason that we can that the price of bitcoin is increasing, people are entering in the world of bitcoin and they are investing their assets that is the demand of bitcoin is increasing while the supply is decreasing.

[Victorycoin]

If bitcoins is banned totally there will be chaos all over the globe as many people have saved their money as bitcoins .otherwise the litecoins price will increase a lot and people will change to it .

now many people are saving their investment in bitcoin. if banning the case, then chaos will engulf the entire world.
it will affect the systematic and also a bad effect on the system of government in the country doing the regulation.

Who is government and who is to do the banning? How can something free, borderless and decentralized be banned? Have countries like China and Russia not experimented with banning bitcoin, didn't they succeed instead in making bitcoin more popular and sought after in both countries?

If banning bitcoin were to be all said and done, most governments would have long put paid to that, but bitcoin is something they cannot help. I think governments are rather looking for means to flog bitcoin into line, because, banning just won't work.

[Text]

I don't want bitcoin to be banned here in our country, I don't want to lose this great opportunity. I would continue using and supporting it whatever happens until it is alive. If a country bans bitcoin there is a possibility that others will do the same.

[CyberKuro]

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.

Only a few of second world countries that banned bitcoin because it consider related to anti-money laundering.
Russia, US and China? They didn't ban bitcoin, based on this link https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country
Bitcoin ban could affected the price through adoption but we can't guess how much, according to how much country will banning bitcoin. I think, no need to worry about it for now, many countries didn't state it illegal and we're free to have it.

[BeGoods]

The only reason that makes it seem possible for the ban of bitcoins is, its use for terrorism and money-laundering. All we need is to stop the false people getting into this, else governments have a very strong reason to stop this as there are no records TBH which can prove whether the funds were transacted for a proper reason or for some wrong purposes.

I think the government is just manipulating the news about this. I do not know terrorists use bitcoin or not to transact, but I know bitcoin transactions anonymous and will be very difficult for the government to track them let alone prove it ? that only the government's tactics to ban bitcoin

[alphablitzer]

Maybe it's because of the closed mindedness of governments to change. It could be a matter of time before everyone will accept it and other places where they didn't take this first will accept it because of the trend. It will soon be accepted because of it's possibilities.

[Pamadar]

Maybe it's because of the closed mindedness of governments to change. It could be a matter of time before everyone will accept it and other places where they didn't take this first will accept it because of the trend. It will soon be accepted because of it's possibilities.

that's for sure its a gamble between adoption and restriction as many government still wanted to take control of their currency that's why its hard for them to adopt but sooner or later bitcoin will be accepted in those places as they can't stop the progress and popularity most of their peoples will also use it no matter what.

[Positid]

Maybe it's because of the closed mindedness of governments to change. It could be a matter of time before everyone will accept it and other places where they didn't take this first will accept it because of the trend. It will soon be accepted because of it's possibilities.

that's for sure its a gamble between adoption and restriction as many government still wanted to take control of their currency that's why its hard for them to adopt but sooner or later bitcoin will be accepted in those places as they can't stop the progress and popularity most of their peoples will also use it no matter what.

They will have to hate bitcoin to support their own, as when times come that people see the government are supporting bitcoin, it will only attract more people to adopt and while bitcoin is getting popular, their currency are also starting to lost its popularity.

[carlerha]

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.

In what countries is bitcoin banned?  i'm not sure i am aware of any that have actually made laws stopping it's use.  and what would be the purpose anyway, bitcoin cannot be censored by any 1 country.

i also have no idea that either any country of the world has banned bitcoin and they issued any official statement about this. i think bitcoin is still free in all the countries of the world and is not yet banned by any country.

[raven7886]

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.

It is true that governments have no control over the bitcoin and it is true that they cannot totally ban it from the world since it became a very popular thing, but them admitting that and officially banning it that will have a huge impact on its price and the number of users that are using it.

[hurain]

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.

It is true that governments have no control over the bitcoin and it is true that they cannot totally ban it from the world since it became a very popular thing, but them admitting that and officially banning it that will have a huge impact on its price and the number of users that are using it.

yes that is a face and there is no doubt about this that bitcoin is anonymous and governments have not control over it, as they cannot investigate about the users of bitcoin in their country, therefore they have no control over bitcoin users.

[Positid]

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.

It is true that governments have no control over the bitcoin and it is true that they cannot totally ban it from the world since it became a very popular thing, but them admitting that and officially banning it that will have a huge impact on its price and the number of users that are using it.

yes that is a face and there is no doubt about this that bitcoin is anonymous and governments have not control over it, as they cannot investigate about the users of bitcoin in their country, therefore they have no control over bitcoin users.

They can always investigate but I doubt if they can make ways to totally ban bitcoins, we are always stronger than the government because we support bitcoin and we love freedom and a decentralize transaction.

[bncbnc]

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.

It is true that governments have no control over the bitcoin and it is true that they cannot totally ban it from the world since it became a very popular thing, but them admitting that and officially banning it that will have a huge impact on its price and the number of users that are using it.

yes that is a face and there is no doubt about this that bitcoin is anonymous and governments have not control over it, as they cannot investigate about the users of bitcoin in their country, therefore they have no control over bitcoin users.

They can always investigate but I doubt if they can make ways to totally ban bitcoins, we are always stronger than the government because we support bitcoin and we love freedom and a decentralize transaction.

actually if want to live peacefully in  country we have to follow the rules and regulation of that country. so if a country will consider bitcoin as illegal then it will become difficult for us to continue using bitcoin so easily as it will be an act against the law of the country.