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Author Topic: What if Bitcoin mining becomes illegal world wide?  (Read 3166 times)
whitemacna
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December 24, 2017, 07:10:47 AM
 #161

Sounds from Bitcoin Mining hardware is probably the only way Government would know you own them. Creative people will be forced to come up with noiseless or low noise ones.At this moment i cant see any reason for make bitcoin illegalI know that in some countries is prohibited, but the prohibitions is possible outmatchSo i think that bitcoin cant become illegal world wide
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December 24, 2017, 07:13:59 AM
 #162

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

Then i think, That will be the end of bitcoins because most of the contribution to the market came from mining and mining is very popular because it is a passive income but it also required a huge amount of capital in order to create the best mining hardware to run.
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December 24, 2017, 07:18:07 AM
 #163

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

Then i think, That will be the end of bitcoins because most of the contribution to the market came from mining and mining is very popular because it is a passive income but it also required a huge amount of capital in order to create the best mining hardware to run.

no, bitcoin will not come to an end if bitcoin mining will be banned or prohibited. bitcoin has many uses not just mining. bitcoins primary uses is for buying and money transfering therfor bitcoin can still be useful and will still be used by the people even without mining. mining is just another form or way of earning and obtaining it , however people can still earn bitcoin in so many ways like doing micro task in the forum and doing free lancing jobs online that pays in bitcoin.
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December 24, 2017, 07:52:46 AM
 #164

if ever bitcoin mining will be ban and illegal world wide then bitcoin will surely die without faster mean of decoding every transactions it has.
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December 24, 2017, 07:55:45 AM
 #165

There are more than 230 countries in the world, and I don't think that mining can be banned in all of these nations at the same time. Even if all the countries ban Bitcoin mining, there are dozens of other options. We can shift mining rigs to ships anchored in international waters and connect to the internet using satellite phones or Dish antennas.

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December 24, 2017, 11:01:37 AM
 #166

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


how they know this place mining or not.

bitcoin fee will be big and network slowly.also may end bitcoin
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January 09, 2018, 05:16:51 PM
 #167

If bitcoin mining becomes illegal more people would want to invest in it because illegal things are often desirable to people
The prices would increase and bitcoin would still be used in dark web
It wouldnt affect much if bitcoin became illegal
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January 10, 2018, 01:11:58 PM
 #168

There are more than 230 countries in the world, and I don't think that mining can be banned in all of these nations at the same time. Even if all the countries ban Bitcoin mining, there are dozens of other options. We can shift mining rigs to ships anchored in international waters and connect to the internet using satellite phones or Dish antennas.

230 countries.
But you will have to cut off the list those that don't have enough energy or the energy is so costly it does not make sense to mine.

And mining in international waters, aside from being taken as a funny joke it's impractical.
You would need massive amounts of fuel, generators, and above all protection.
The cost would be so high it would not make sense to build a farm on the open seas.

The only way a complete international ban might be avoided would be by totally decentralized miners doing hobby mining with 1-2 miners at home, after all , the chain can run with a single miner.
But in this case, a 51% attacks has an almost guarantee chance of success.

how they know this place mining or not.
bitcoin fee will be big and network slowly.also may end bitcoin

Bitcoin fees and speed of tx are not affected by the number of miners.
How would they know?
Simple, checking who does more than 900kwh a month.

Since:
http://shrinkthatfootprint.com/average-household-electricity-consumption

In the US typical household power consumption is about 11,700 kWh each year, in France it is 6,400 kWh, in the UK it is 4,600 kWh and in China around 1,300 kWh.  The global average electricity consumption for households with electricity was roughly 3,500 kWh in 2010.

There is no country besides the US and Canada where the average household consumes even 2/3 of what an s9 does.
So it's like cherry picking.



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January 10, 2018, 01:15:21 PM
 #169

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

Thinking about it, when mining ends, the bitcoin supply will no longer collect more and more bitcoins thus lessening the total amount of bitcoins globally. So in case we have coins locked in some abandoned address, we will have less and less supply thus making bitcoins more expensive, making bitcoins more risky to pop.

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January 15, 2018, 06:39:07 AM
 #170

No Government can ban or stop mining in this world it is decentralized completely governments may not give permission of establishing large mining farms but chances are less bitcoin protocol is completely held by peer to peer
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March 05, 2018, 04:32:41 AM
 #171

I don't think that the government could prohibit bitcoin mining (but I think yes, they can) and bitcoin mining becomes illegal because they need to shut down the internet and this is the main factor for mining bitcoin. many people will become angry if the internet is shut down. the bitcoin mining depends on the internet connection and the internet was spread on all countries.

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March 29, 2018, 10:24:16 AM
 #172

Crypto-currencies in Russia are not prohibited. Of course, the topic of whether it is legal to engage in mining in Russia has been raised more than once, but there are officially no prohibitions. So anyone can get involved in the production of crypto currency.
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March 29, 2018, 10:49:58 AM
 #173

The development of Internet technologies is an undeniable fact. Mining is an integral part of cryptocurrency development.Extraction of virtual money is also an undeniable fact.To prohibit mining is at least stupid.I agree that mining has a high load on the grid and requires a cooling system. But if a person pays for electricity in good faith, no one can forbid him to work with the equipment.Anyone can engage in the extraction of cryptocurrencies. Home mining cryptocurrencies other than bitcoin is quite affordable.Allow resources and technology.There is no official ban yet.

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March 29, 2018, 10:55:42 AM
 #174

I think this will not happens because of mining help government to earn money on electro and they ear a lot of money and profit from miners to sell electro to them , also mining may be will get some taxes in future from earning money we will be needed to pay some extra fee for that but i do not known how they will control that.


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April 08, 2018, 01:51:17 PM
 #175

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

It never comes to my mind .. my question is how do they illegalize mining if it just only solving math problems and how would they make applications that prevents the mining happen.. if they have the ability to do that then it will be the end to bitcoins circulation... no one will confirm and process the transaction and also bitcoin will stop circulating.. thats my opinion


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April 08, 2018, 03:04:56 PM
 #176

You cannot really stop people from using bitcoin because you cannot legally stop people from using the internet and anywhere there is internet, there will be bitcoin.
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April 18, 2018, 12:28:10 PM
 #177

I always think and share my opinion that one of the risks of Bitcoin is that it is being banned by the government of a particular country. But with this idea, given that it is really possible, then that would only be a big disadvantage for Bitcoin holders. But I do not think this will happen in just one click. If this is going to happen, it will happen for the country and nation by nation. With that, my suggestion and what most people will do is to sell their Bitcoin if we've seen that it's getting banned in other countries, I hope more bitcoin is supported, and other big companies also support bitcoin in the future .
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April 18, 2018, 12:46:52 PM
 #178

Bitcoin is not owned by any country, so it is impossible to prohibit Bitcoin all over the world. At present, some countries in Europe have adopted Bitcoin in paying for goods and services. And they started spreading to America, and then Africa and Asia. I think Bitcoin is a sustainable development.
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April 18, 2018, 12:54:20 PM
 #179

If Bitcoin mining will become illegal world wide, there will be less transaction will be made and the time of every transaction, time of confirmation will be delayed. Because most of miners are the one who process every transaction of Bitcoin mining. Let's just not hope that it will be ban, it will make a big FUD if that will happen.
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April 18, 2018, 01:00:29 PM
 #180

If Bitcoin mining will become illegal world wide, there will be less transaction will be made and the time of every transaction, time of confirmation will be delayed. Because most of miners are the one who process every transaction of Bitcoin mining. Let's just not hope that it will be ban, it will make a big FUD if that will happen.

If mining stops then bitcoin stops. But i don't actually see a reason for mining to be illegal unless the reason is that they see it as a threat. But what they can do is to implement regulations. But they cannot suddenly stop bitcoin. It actually also benefits the government or the economy.
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