What if holding the bitcoin becomes illegal?

[Mysterious01]

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 it happened I am going to secure first that I can exchange all my bitcoin to our currency so I can still use my funds before its too late.
But I don't think so that it will happen or I say that there is a very small possibilities that this scenario will happen.

[oegarod]

If such a scenario exists, surely it will cause as an negative impact over the growth of bitcoin as well other digital currencies. At present the growth is tremendous and China's market makes some fluctuations. When holding bitcoin becomes illegal, automatically some users try to cash out. The same will be used as an opportunity to buy at less price and this causes a downfall in price.

[Chyton]

Then I'm sure 99% Bitcoin holders will change their Bitcoin into another altcoins, possibly anonymous coins. But in real case scenario, this type of scenario won't happen because as I'm posting this Bitcoin adoption is growing each day.
Japan has the largest volume in cryptocurrency right now, I'm sure Japanese government won't ban Bitcoin anytime in the future.

PS: Try not to generate traffic to your websites by advertising it in forums, learn how to make quality posts and people will come to you naturally (with SEO of course)

[Ucy]

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

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

"What if breathing air becomes illegal"

Making Bitcoin illegal is complete waste of time if you ask me. Why would storing some special code somewhere be deemed illegal? Even ancient administrators wouldn't ask you not to store gold or other precious metals at home not to talk of the modern government. That will be clearly an abuse of power.

[Xester]

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

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

Well then bitcoin will die.  And what would be the reason for them to ban bitcoin?  They should have done it before it was launched way back 2009.  The maker or whoever organized, developed bitcoin knows the rules or laws that embodied this kind of product or services.  

[doedz]

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

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

Recently I read an article on Cointelegraph with the exact same points

There has been a recent spike in articles and threads on this forum related to bitcoin ban, thanks to all the FUD. The last time a country banned bitcoin was in September 2014, nothing after that. At a time when a few countries have already legalized bitcoin and a few other are working on the legal framework to regulate bitcoin, I don't know why a rumor that the Chinese government banning bitcoin is being compared to all the governments banning bitcoin?

Nothing is stopping governments from banning bitcoin, but if a decentralized currency can be indirectly regulated then that is the better option than banning it and that's what some countries did and are planning to do.

This is very common, there is a lot of people jump about bitcoin. Everyone talks about it because the price is so high. It becomes dangerous when everyone diverts all of their money to invest in digital currency. There is great concern from various countries about the financial balance. and it's very reasonable. We are facing a new era and everyone will accept it in the future.

[NavI_027]

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

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

Well, that's the worst nightmare for all who still holding bitcoins. All of the btc invested and all of the btc still inside your wallets will become valueless all of a sudden. All of the effort, time, and sacrifice tha you do just to earn will not give some benefit in return, it's like you're in the highest peak of the mountain then you suddenly fall down to the bottom.

I think the only way to avoid thia misery is when you trade your btc into other cryptocurrency before the ban and withdraw all of it to cut the future losses. (I hope this won't happen)

[xSkylarx]

Bitcoin holding will not become illegal because there is no law that is against bitcoin holding and there is no bad thing in holding bitcoin and to be honest, it is helping the bitcoin holders to earn money without working and that is a great way to have an asset by just buying and holding bitcoin for the future purposes.

[bajing]

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

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

It's already be illegal, in my country government ban or not allow us to invest or use bitcoin so we hold or trade or use bitcoin as illegally but I think it does not matter as long as there is no legal rule from the state that can get us into legal trouble just by investing or using or trading bitcoin.

[Nicol3]

If bitcoin becomes illegal then I think a lot would be notorious illegal businessman and women. Or there would be a syndicate operating down the low with bitcoin transactions. LOL!! Anyways I don't really think bitcoin will become illegal though if governments would take over and hold bitcoin then a lot of corruption will happen because there is money involved.

[Stac]

There is no way for bitcoins to be considered illegal and no one will be able to stop this cryptocurrency.  Each day more and more people are coming into this bitcoin community. As there is no central control for this technology bitcoins can be transferred easily to other altcoins and peer to peer transactions can be made online without having to worry about the government crypto ban.

[iamTom123]

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

Will it really happen? Possibly. Or maybe not. Well, there is a chance that some authorities may decide against Bitcoin eventually and rule that it is already illegal to possess any Bitcoin or any cryptocurrency...most probably regimes which have the same mindset like NoKor would do this. There are governments having their own agenda and these are the leaders who are control freaks meaning they always hate what they can not control and they are afraid that Bitcoin can be a way to empower the people and for them to one day break away from the shackles established by those in the helm.

In the short-term view, there can be chaos in the market if big countries (like China, USA, India, Russia, Japan) would one day decide to stop their people from participating in the Bitcoin market and community. As of now, the most likely a candidate to do is, of course, China but still we are hoping that eventually the country will realize that they will lose more if they will choose never to be a part of the Bitcoin bandwagon as there are many miners located in this country and the business of mining is bringing in many benefits like jobs and consumption.

[perla]

little afraid if that happen, like the video when bitcoin raid, some traders in russia get arrested for trading bitcoin and the video said in rusia hold bitcoin is legal, but trading activity is illegal, and then traders get arrested like criminals

[SushGo]

This has topic has been discussed many times on this forum, you can do a proper search to locate the related threads.

[Fire Rabbit]

This is not going to happen because cryptocurrencies have crossed or passed all those levels and now its heading in a new direction. If it was in the beginning, then ok , it was easy to ban bitcoins and other altcoins. But now the scenario has changed, everyone started using bitcoins and bitcoin has become one of the legalized or standard payment methods whole over the world, even though its not officially legalized by any government.

[BitHodler]

Bitcoin isn't tied to whatever regulations the government forces through ~ no one in the world has the ability to prevent me from holding/trading/selling Bitcoin, and that's why I love Bitcoin's decentralized nature so much.

Ultimately, I am glad that not all countries are sitting on the same level, because if that would be the case, they could pool all their laws and regulations together against crypto in general, and that is another benefit.

The only negative aspect of a ban is that this market will need to operate on a closed and much smaller scale, but at the end of the day, people will still find ways to make use of Bitcoin.

[Mr]

There is no way that the government can trace out who is using bitcoin. Therefore, you do not need to worry about this. If bitcoin is illegal, the price will be much lower. However, I believe that more people will learn about bitcoin and they will realize about the fact that the gvernment can not know about those amount of bitcoin that you are holding and they will start buying bitcoin for themselves

[SerioGiocatore]

Most countries had already imposed laws regarding the use of bitcoins. This is their way to stop money laundering, the use of bitcoin to help finance terrorist, tax shield and many more.

There are also countries which makes bitcoin illegal as a currency.

Here are some info why some countries made bitcoin illegal : https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

[Voice-Of-Reason]

What if breathing becomes illegal? 

[nicster551]

There is no way that the government can trace out who is using bitcoin. Therefore, you do not need to worry about this. If bitcoin is illegal, the price will be much lower. However, I believe that more people will learn about bitcoin and they will realize about the fact that the gvernment can not know about those amount of bitcoin that you are holding and they will start buying bitcoin for themselves

Yes bitcoin is useful but it only depends on the country on how they accept bitcoin if it is a legal or illegal currency because it is the only way to protect their citizen from the possible effect that may happen in their territory.