What if holding the bitcoin becomes illegal?

[Gintama214]

Just imagine what will happen if once the government will ban Bitcoin ?

https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/

The chances of bitcoin will be illegal is low, the government will use bitcoin and will control bitcoin the future. They can earn also from bitcoin, they just need to wait until bitcoin price will hit high rate and they come as if they care about it. We are in the world that the government controls everything that we do and bitcoin is for sure also be in the governments hands. As long as they ear they don't care about other people. They care about themselves and the economy. So surely they will not make bitcoin illegal because they can also make profit from it.

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[Skylake]

if i hide my bitcoin at paperwallet, and never publish it, never use bitcoin to pay something, and i never say anything about bitcoin, and no body know i have bitcoin, so from where goverment know i have bitcoin?
for me decentralization system can't be handle by any one, and goverment cant control it too, if 1 comunity or 1 person handle it, its not bitcoin again.

DECENTRALIZATION IS BITCOIN, AND BITCOIN IS DECENTRALIZATION

[patz22]

Bitcoin is an virtual currency and there is no need to give out a lot of personal information to open a wallet so basically someone can use or actually using bitcoin for other transactions (illegal transaction - drugs, purchasing items in black market, funding terrorist etc.) so there is a chance that Bitcoin will be illegal. But what I think of is bitcoin will be illegal only if all of the government around the world will interfere in this business however it will not happen because of a fact that a lot of jobless people uses bitcoin to earn.

[chesegrinder]

if bitcoin holding become illegal. at first, you or we should anticipate that everything we do right now are in risk. investing in crypto are really risky in different phase of this state. If bitcoin will be come illegal, it will not. as of today there are many merchant accepting bitcoin and many physical store at the near future accepting it.

[Celsiuss]

I've always wondered what the outcome of a situation like this would be. No one can check if a person owns bitcoin, right? How would the government enforce this? The best they could do is ban all online BTC exchanges and wallets.

[Sithara007]

First of all, it is very difficult to ban the possession of Bitcoin. Converting Bitcoin to fiat can be banned (with some difficulty), but it is not possible to ban the possession of Bitcoin. BTC is not a physical asset and it is near impossible to link any of the wallets to a particular individual.

[100%succes]

Just imagine what will happen if once the government will ban Bitcoin ?

https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/

currently there is not yet a hundred in my country still not recognized. I hope my country can recognize bitcoin.

[Bakemat]

Just imagine what will happen if once the government will ban Bitcoin ?

https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/

If that happens i think that was too dumb and foolish. What is the reason for making Bitcoin illegal if it does not steal , scam or take on someone. Investing is not a crime. Also i think just make them learn about Bitcoin , Crypto currency and digital currency so that they will understand that there is nothing wrong in Bitcoin , crypto currency and digital currency. But if the government really treat the holding Bitcoin is illegal then there is really nothing you can do but to accept that they can not understand it.

[Palmholder]

It depends of punishment. Lets take marijuana for example. It is forbidden in many contries. But an insignificant human being may get full life sentence for keeping it at some places or just pay small fine at others. What if someone, who are doing crime by keeping Bitcoins, gets really high profit comare pathetic fine he is ready to pay. Just word "illegal" says no much to me. Self safety is the most important issue for an awerage human, so it leads him

[Janademir4]

No need to imagine, in my country I already feel.
Bitcoin in my country has been banned

[Vaskiy]

Such a situation never prevails, if that happens users who already use bitcoin with a hesitant mind tend to switch completely to fiat or gold. People who have known about the goodness will go in search of an alternate way to keep hold of the bitcoins. I don't think such a restriction will come into effect in the near future.

[saeron-ssi]

I think bitcoin will not become illegal, government will take advantage for this and ammend taxes for ths kind of currency. On the other hand, there were also news about other countries that made laws to protect bitcoins. But if ever bitcoin becomes illegal, those who are investing a lot of their money in bitcoin will surely be on disadvantage.

[Pleione527]

I don't think this could possibly happen because there's no proof for government to declare bitcoin as an illegal stuff, this mainly reason why they want to have control over bitcoin because its legal and can be use by anyone which they cannot trace or even control. But if ever a certain government will declare bitcoin as illegal currency I'm sure people will not tolerate that and oppose to them. Bitcoin is world wide currency now and government cannot penetrate that.

[Portia12]

Just imagine what will happen if once the government will ban Bitcoin ?

https://blog.eth-price.com/2017/09/11/governemt-making-bitcoin-illegal/

I dont think it will happen because holding bitcoin is the same as hold gold because they are both investment. The price of each item has a chance to lose and to win because the price is unstable.

[BTCeminjas]

If bitcoin become legalized by our government they controlled bitcoin and alson bitcoin force to pay taxes to our government, many law apply to implement and that we don't have freedom in bitcoin. If ever that was happen bitcoin price gettings drop it become nonsense. But surely our government cannot penetrate to bitcoin.

[endlasuresh]

This is last month thread as Rumors had came after china banned Bitcoin, but I don't think holding bitcoin is illegal since it is decentralized so no one knows and we can access it anywhere and spend the cash where it is accepted.

Does Govt knows you hold the Bitcoins or other Crypto currencies? is their any chance to raid your wallets?

[onrise]

No need to imagine, in my country I already feel.
Bitcoin in my country has been banned

Which country do you belong too and why did the country decide to ban, what specific reasons led them decide the banning of such currency. Have you stopped it or you still continue dealing in them despite the banned imposed by your country?

[_noname_]

it will not far away that bitcoin will become legalize in many countries because bitcoin is famous with a very high speed and the rate of bitcoin is also increasing with quick speed and those people who are holding bitcoin and when the bitcoin become legalize in their country then they will get enough profit and they will then no need to convert to their country currency and use wherever they want.

[chip211]

If it happens to be bad, the prypto market will dump quickly and we will die. 

[Zenithar]

it will not far away that bitcoin will become legalize in many countries because bitcoin is famous with a very high speed and the rate of bitcoin is also increasing with quick speed and those people who are holding bitcoin and when the bitcoin become legalize in their country then they will get enough profit and they will then no need to convert to their country currency and use wherever they want.

Yes that is right. i think some countries have already accepted bitcoin as legal currency. japan is the best example with us. Still some other countries are also now planning to turn bitcoin as legal currency. I do not think that any country yet delar bitcoin as illegal, because not a sing country has yet officially banned bitcoin. i am sure that in future bitcoin will be consider as legal currency throughout the world. Not a single country will be there who wil will continue to bane bitcoin.