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Author Topic: what will you do if your country bans bitcoins?  (Read 5774 times)
verifyas
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November 04, 2017, 03:27:07 PM
 #1

I guess the titles says it all. What will you do if that happens?

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Emoclaw
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November 04, 2017, 03:32:00 PM
 #2

I will keep using it and buying goods from foreign countries because it is technically infeasible for my country (and any other) to ban Bitcoin without blocking the Internet like NK.
I guess I will no longer be able to exchange it through normal means (an exchange) though. But that's okay because I could simply exchange it for PayPal with someone trustworthy.

There's nothing else that needs to be done honestly, governments are powerless regarding this matter. China did ban Bitcoin exchanges but you can still use Bitcoin there and mining farms are operating just fine.
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November 04, 2017, 03:35:34 PM
 #3

bitcoin is decentralized nobody can ban me from having bitcoin, accepting as payment, giving it as payment or investing in it Wink

what they can ban is banning businesses from accepting bitcoin as payment or banning "trading bitcoin". and since i am not a business that won't matter much but since i trade that would be a problem although i can technically still invest in bitcoin and even trade in decentralized exchanges but it will be harder.

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November 04, 2017, 03:37:11 PM
 #4

i hope this will never happens in europa XD
becourse and exchange ban like they do in china will affect my tradings hardly -.-
but for now its ok my country gets good fees on bitcoin!

kind regards

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Bitcoin Gambling
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November 04, 2017, 03:42:22 PM
 #5

I guess the titles says it all. What will you do if that happens?
As u r asking this Q, it implies that u dont understand the very basic of how bitcoin works. A country CANT ban Bitcoin. At most its exchange with legal tender of that country can be restricted.

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AlphaWolf
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November 04, 2017, 03:48:13 PM
 #6

I would continue to do exactly what I'm already doing. How will any government body go about collecting taxes? Do you really think people are going to willingly declare their Bitcoin information? Anyone who really understands Bitcoin will know of services that allow you to avoid taxes when it comes to Bitcoin. Future generations will not trust 3rd parties like governments so why should they declare something that is theirs to be taxed.
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November 04, 2017, 03:48:29 PM
 #7

It's the thing will be happened in my country in next few months. I don't really know what to do when this case happen, maybe I'll keep using Bitcoin and cryptocurrency but I need to be careful cause when Bitcoin and cryptocurrency banned in any country that mean who try to use Bitcoin and cryptocurrency will become a crime and they will be punished for this action. But I think there are still some ways to use it when it's banned so I will try to find it out maybe using VPN to hide IP is a good idea Smiley)
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November 04, 2017, 03:49:38 PM
 #8

I guess the titles says it all. What will you do if that happens?

Our only choice is to follow with the law if the state banned the bitcoin but we can still use our remaining bitcoins in our wallet into other country or international services that allows bitcoin as a payment. but today I doubt it if that thing will happen into our country because our government is doing step to embrace digital currency little by little.

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November 04, 2017, 03:51:33 PM
 #9

Actually my country already banned bitcoin but everyone uses bitcoin in online. Bitcoin ban can't stop anyone to stop earning bitcoin people's earn it from online and they will keep it up.

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November 04, 2017, 03:54:24 PM
 #10

Actually my country already banned bitcoin but everyone uses bitcoin in online. Bitcoin ban can't stop anyone to stop earning bitcoin people's earn it from online and they will keep it up.
Same happening in our country already authorities ban this and doing cracked down against buyers and sellers but still peoples are doing this and day by day users increasing not going to less now I realize if they want to ban then they must block this all internet which is impossible hope as they understand this all bring some soft policies for bitcoin users and take advantage of this digital technology

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November 04, 2017, 03:54:40 PM
 #11

I wouldn't worry too much if I stopped bitcoin in my country. Because bitcoin is the world's coin. It's not a country's paper currency. I think it's universal around the world. Now you can use bitcoin to shop on Amazon, and you can even buy a villa with bitcoin. It's not surprising, and that's what's happening in the world! Are you ready? My friend

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November 04, 2017, 03:59:31 PM
 #12

i hope this will never happens in europa XD
becourse and exchange ban like they do in china will affect my tradings hardly -.-
but for now its ok my country gets good fees on bitcoin!

kind regards
I also hope that it would happen because bitcoin is the most thing that helps me to gain and make more money. In addition to that, if my country banned bitcoin I think I will transfer to other country were bitcoin is not banned and freely used in all kinds of transactions.

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ibininja
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November 04, 2017, 04:01:14 PM
 #13

If that ever happens; I guess one have to have some friends in different parts of the world and wire transfer or use paypal with and accordingly use cryptocurrency. but to stop using it... I doubt that is something I will be able to do.
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November 04, 2017, 04:01:46 PM
 #14

Nothing, i would keep using like im doing now, because if  i have internet, i can have bitcoin and trade it. Like some ppl said, you are really banned to use bitcoin if you have no internet or a limited one.
But if things is going too bad here, i can go live in japan again, i think its like bitcoin's paradise.

isaac_clarke22
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November 04, 2017, 04:06:17 PM
 #15

I would withdraw some of it before it gets totally banned but I'll keep on earning anonymously by using programs like VPN to hide my IP address. However my country is really unlikely to ban BTC.

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November 04, 2017, 04:06:32 PM
 #16

I guess the titles says it all. What will you do if that happens?
Any country cannot ban Bitcoin because it is decentralized, what they can do is to stop people from converting Bitcoin to their fiat currency but they cannot totally stop it and people will always find a way to trade or hold Bitcoins and there's a lot of ways to do it anonymously, what I will do to convert it to fiat currency is through Person2Person transaction. If my country will block all cryptocurrency trading sites then I will use Virtual Private Network (VPN) to unblock it and hide my IP. The last option is to leave my country and go to the country that legalized Bitcoin. But for now there is no chance that my country will restrict using it.

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November 04, 2017, 04:06:58 PM
 #17

I guess the titles says it all. What will you do if that happens?

First of all my country can't ban it as lots of people are using it and even if they ban it we can still use it to buy goods and services from the internet. There are many ways to convert bitcoins to fiat money so technically it's a wrong move to ban bitcoins.
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November 04, 2017, 04:10:42 PM
 #18

Bitcoin per se cannot be banned by a country, but the official exchanges and trades can be affected greatly. See what China does to all of the Chinese exchanges registered under them? All of it halted operation within a week after its announcement, but LBC and P2P OTC exchanges are very much alive and kicking. I myself wouldn't stop using bitcoin since the only thing they can ban are the exchanges and not individual transactions and uses for bitcoin so I'm pretty much safe with all their BS and nonsense on "bans".

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November 04, 2017, 04:14:04 PM
 #19

What will I do? Dump it all of course, get rid of it just to be safe because my masters and rulers said i'm not allowed to Cheesy

Jokes aside, I won't do anything. I'm not able to buy anything in my local stores or pay my bills with BTC so if it were banned now nothing would change in my way of handling it. Stop worrying people!

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November 04, 2017, 04:18:04 PM
 #20

if its possible that bitcoin will ban on my country, i will do my daily routine in my life. ill focus on my job regularly. but i think bitcoin can't ban any part of the country. because its digital cryptocurrency to make.


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