What if holding the bitcoin becomes illegal?

[triads]

First of all, holding bitcoin can never be illegal. Have you ever heard that holding Fiat is illegal.

That's perhaps true, but authorities can go after the exchanges and outlaw them. That's essentially what's happening in China right now. So now you BTC, but no way to get more and no way to get it out into other currencies.  What good is holding a Fiat currency if it essentially has no exchange rate??

[babarian]

If holding bitcoin to be illegal, I will soon sell all my bitcoin and will no longer be in bitcoin world, although until now there is no definitive provision in my country about the legality of bitcoin.

[romecheo]

Every country have there own government, and every government can make a decision for its people, and people are bind to every policies of there own government.

As a citizen, we couldn't stop whatever our own government's decisions.

as individual, we know our own rights, we know our privacy, we knows many ways to keep doing transaction with our bitcoin.

[Fazlurkhan.kz]

Well i personally find no good excuse or any advantage that might be there to make Bitcoin illegal. It's doing great and the advantages Bitcoin provides are just great!! Even if Bitcoin became illegal i might still consider using it. This is just my personal opinion. 

[gamalzour]

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.

The possibility of bitcoin stamped as illegal is up to zero percent, and no country wants to shut business in cryptocurrency by watching its progress and by seeing possibilities of business in it , import export can be done by bitcoins which is the safest way. I don’t think so there is any harm in making bitcoins legal around the globe.

[Intersan]

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 we have no choice. My strategies to make a sense all my hardship is converting the half of earned bitcoin to fiat and used in business to secure my future. The rest will save in bitcoin wallet to make a profit or if bitcoin become successful I have a lot of money in the future. I choose to earn using joining to signature campaigm instead of using my money as capital in investing or tradinh to avoid losing of my money. My earned bitcoin was used in trading to gt an extra income. I do this because I know that there is no permanent in this world. We are not sure on what will happen in bitcoin in the future so is will secure my future when bitcoin is not ban in my country.

[nikisev]

Downloading copyrighted content from internet is also illegal. And like....people do it. Not me. God no. But anyway, ive read it in news

[super5star]

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

It will not happen, holding bitcoin can give profit to owner and also to the region he is investing from bitcoin will be accepted globally so there would be no chance to this that it would be illegal, we should trade and enjoy it. Bitcoins are already made legal by many countries so no need to consider them illegal.

[balakang00]

I think t would be a problem for all of us because no one wants to be involved to something that will cause them to be on jail or worse, death. Bitcoin may die with that happening but I think it is impossible because it is widely accepted and becoming legal as of this moment.

[stevano]

why imagine? I think it already exists. and occurs in some countries. I think not all countries will ban bitcoin. as in my country there is no prohibition to engage with bitcoin.

in my country also does not prohibit the existence of bitcoin transactions, and also does not recognize as a means of payment is legitimate in other words still floating

[kimpena]

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

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

Oh mu, if that happens, many people will suffer. Yes, they will suffer, because some of them works only in bitcoin online jobs. There are people who resigned on their regular job just to focus in bitcoin, sad to say that there are people like this. It will be a big lost to many, specially to those who have a big amount of bitcoin.

[jtipt]

Downloading copyrighted content from internet is also illegal. And like....people do it. Not me. God no. But anyway, ive read it in news

You sure you don't? 
Anyways you are correct, baning Bitcoin won't like affect it's users as there is no way to pin point each and every single person who is using bitcoin, besides there is no reason for any of the government's to declare bitcoin illegal.

[BitcoinCommodor]

we do have to be ready for everything that happens in the future, so even if the government is going to alter the bitcoin later on, we must to rack our brain, what's our next plan for bitcoin we can keep ..

His foremost need is to prepare our minds for such situations first so that when we face such sort of situation, our brains stay calm or else the thinking power will be jeopardized. Other than this, not all the countries are going to ban bitcoins or other crypto coins.

[fabrizoc]

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.

I think this is never gonna happen because of a lot of number of users of bitcoin from all over the world. Its users know that it is an unstoppable crypto currency which is the most secured and exponentially growing currency that has access from any part of the world. If ever this happens then who will be responsible for the people’s loss.

[kuyaJ]

I thought that bitcoin is not or cannot handle by government.  I believe that handling bitcoin cannot be become illegal because a person who has a lot of bitcoin dont want to trash his/her money only so he/she have a right to fight for what he/she have.

[potatocorner]

If bitcoin becomes illegal then I will immediately convert my bitcoins into my local currency so I can still use my earned bitcoins. I will feel sad after doing it because it is my main source of income as a student and it helps me in my daily needs. But I hope it will not happen in the near future because I believe on what bitcoin can do to change lives.

[bubblebit]

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Yes you're right, they're just doing advertising and it won't be a good start in making a stand for an issue when reality they're just taking advantage out of the reader. SEO is the best practice to do, I'm trying to learned been reading and studying about ranking my website that idea came from my cousin who does passive income on web traffic. I'm looking forward to be on top in search.

[Lpim01]

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

Because of having a large numbers of bitcoin holders and it's anonymous identity, government won't know who they are. But it come that bitcoin become legal, probably the authorities will then need real identity before making transactions. Of course they need it because the imposed tax and it is required both parties.  

[corroze]

yes it is possible that someday identity will be needed in bitcoin to anticipate the misuse of bitcoin from those who use bitcoin for criminal purposes such as drug transactions and funding for terrorists as well as money laundering results from corruptors

[Mr.Anonymous]

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.

I think this is never gonna happen because of a lot of number of users of bitcoin from all over the world. Its users know that it is an unstoppable crypto currency which is the most secured and exponentially growing currency that has access from any part of the world. If ever this happens then who will be responsible for the people’s loss.

Of course the Bitcoin users will have to accept their loss, because before keep their money in Bitcoin, they have to know its risk, even they must ready the worst situation loss all their money in Bitcoin lol . Nothing is safest, remember that!