What if Bitcoin mining becomes illegal world wide?

[Daimon88]

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Making bitcoin illegal is just going to make the prices rise in little time, since there is little or no miner left
to confirm transactions on the network, then the miners left can hype their transaction fees to make much.

[guoyu78]

It think that not much would happen at first. The price would fall, yes. But just because something is declared to be illegal, it does not mean people don't do it anymore.
Miners have their mining hardware, that hardware can't be used for anything else.
They would keep on mining until somebody pulls the plug that provides them with electricity.
Then bitcoin would have the real problem because no new blogs would be mined, no transactions could be made.
That would be kind of the end then.

Of course that is never going to happen!!

It is impossible to ban such expensive coin which gives new way to trade and the whole world will know about the importance of bitcoin so there would be no chance of ban BTC. It has more advantages in investing in any of other business so without doubt we should invest in the bitcoin and enjoy the benefit and profits of this long lasting business.

[redsun114]

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Making bitcoin illegal is just going to make the prices rise in little time, since there is little or no miner left
to confirm transactions on the network, then the miners left can hype their transaction fees to make much.

Honestly fellows, this is impossible to make bitcoins illegal worldwide. Some countries will oppose the idea; other will be in its favor. Moreover, bitcoins are not hurting anyone. It has rather saved lives of many by giving them financial support. Bitcoiners are growing in number gradually so bitcoin is unstoppable now.

[johnarce]

Can governments actually ban Bitcoin? Well, if the government banned bitcoin, which I find extremely unlikely, they wouldn't do so by banning bitcoin. They would pass a law banning anything that had the properties of bitcoin. For instance, any peer to peer system of value transfer.

[kamikadze69]

I hope it will never happen, because later on the impact will be very harmful and not beneficial for bitcoin.

[Voice-Of-Reason]

Don't think mining could be made illegal, I think only fiat exchange part could be made illegal, or using it as a currency trade for goods or services...

[gesdan]

how about mining cryptocurrencies? is it illegal too? if its illegal i think bitcoin price will increase like rocket to the moon, because no more supplies in public that can fill the market demand, if cryptocurrencies mining allow i think its better, and some other  cryptocurrencies price will increase because many people will change from bitcoin mining into cryptocurrencies mining

[Flomo]

at this time I have never heard of the government banning bitcoin mining, but if it happens maybe the government will apply the rules and will receive income tax from miners.

[Sir Legend]

Nobody will care, of course everyone will continue mining bitcoin regardless of legal or illegal, this is because they feel getting profit with bitcoin mining.

[kondor1030]

Easy. Mining datacenters will have to shut down and sell their BTC. This will drive the price down. With the time the mining difficulty will decrease and people will be again able to min BTC on their laptops. You can see that banning mining is impossible. It will hurt the price though....

[Denies]

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

I dont know for sure what caused the ban. but I do not think that will happen to the whole country. because some countries are not a problem with bitcoin. and each country has different laws on bitcoin.

[LuffyD.Monkey]

I dont think mining will be mande illegal in countries like the UK and the USA. However, more regulation in excahnges and in ICOs will be inevitable. We shall see and have to keep our fingers crossed!

You are absolutely right. I can hardly find any reason that can make mining an illegal activity anywhere in the world. I think this is not possible at all. Mining is something with which lives of the most of us is attached with. This will never be in the favor of those who earn using this technique if this happens.

[humanCNC]

That may be a nightmare for btc users. If that really happened then maybe that would be the end of btc. And in the present circumstances it is worrying us, but there is still the belief that it will not happen. There are also some countries that claim to accept btc, along with bar acceptance. math btc by large companies in the world in many fields.

[TracyTStump]

Bitcoin Mining Hardware is probably the only way Government will know you own them anything once it becomes illegal, it becomes extremely desirable of the people. Strategy to achieve your goal because it simply is not legal anymore. They will simply see on the power consumption knowing that energy miners hungry and desire to consume more will be for a typical electrical consumer. So, I'm sure the bitcoin network will still be alive, but the hashrate and difficulty will decrease dramatically.

[bololord]

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

I think if bitcoin become legal to all country i think the value of bitcoin is going increas so much high becuase of the popularity and many investor invest in biitcoin so i hope bitcoin become legal in all country.

[Wipro]

That may be a nightmare for btc users. If that really happened then maybe that would be the end of btc. And in the present circumstances it is worrying us, but there is still the belief that it will not happen. There are also some countries that claim to accept btc, along with bar acceptance. math btc by large companies in the world in many fields.

Why you feel it is nightmare for btc users. There are many official press releases from many countries and corporates started investing on bitcoin based projects. First country which made bitcoin legal in their country, Japan also invested on mining projects worth of millions of US dollars to it. Till these adoption take part on bitcoin till that mining will never die. If bitcoin is not in use also some other alts will take that role.

[stompix]

Will that be an end of bitcoin? If all mining operations becomes illegal all over the world. Why authorities are against bitcoin mining?

Lets discuss

Making bitcoin illegal is just going to make the prices rise in little time, since there is little or no miner left
to confirm transactions on the network, then the miners left can hype their transaction fees to make much.

First, even the Chinese have made transactions between cash and coins subject of regulation and have concluded that a ban it's the easier way. They never spoke of a mining ban or possession ban.

And even if mining would somehow become illegal the network only needs one miner to run.
If the remaining miners will raise the transactions people will switch to another form of crypto.
Just like people have run from expensive wires to mg and wu and now are coming back because of sepa.

[Renampun]

you're not sure if that's going to happen, our community is strong, let alone all tech lovers have been much involved in Bitcoin, if to illegal Bitcoin, then ready to be ready the anonymous will act ..

[ROT13]

You'd see the end of massive farms but there's plenty of other alternatives.  I know an IT admin who was secretly using his company's servers to mine Bitcoin.  botnets can be effective when deployed at scale.  You are only really limited by your creativity.

Wouldn't be that hard to shift to proof of stake.  Ethereum will probably be there long before anything approaching the majority of the worlds countries could get their shit together enough to do something about mining.  Then they're really powerless. 

[coinzoid]

If bitcoin mining becomes illegal worldwide, then it would be a nightmare for miners. They would have to find alternatives to btc to mine, but not sure the alternative would be profitable as bitcoin. The nightmare would be equal for bitcoin owners, creating panic sell orders on exchanges.