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Author Topic: what will you do if your country bans bitcoins?  (Read 5802 times)
masterbt
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November 09, 2017, 08:36:33 AM
 #201

If a government bans the bitcoin. Still, we can utlize it to pay for some products or services and also you can get the fiat money for some fee using foreign currency and convert it.

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November 09, 2017, 08:50:59 AM
 #202

I live in a developed country and it does not threaten me. And in general, I do not see the point in banning. I think we should start reguate to withdraw the crypto-currencies from the shadow economy.
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November 09, 2017, 08:54:17 AM
 #203

I dont think that this will ever happen to europe, but in case there are some countries around the world i would also like to live in  Wink

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November 09, 2017, 09:05:55 AM
 #204

What I'm worried about when my country forbids bitcoin is an internet problem, if my country has banned bitcoin, then it's likely that a bitcoin-related site will be blocked.

And the exchange problem, there are some exchange sites here that I use to sell bitcoin and convert it to fiat (because here bitcoin can not be used for payment equipment, then I have to exchange it first), if the site is closed due to this prohibition problem, it will be more difficult to using bitcoin. But I will not give up so easily, there will be an alternative to still be able to use bitcoin, maybe I will make VPN as an alternative. Smiley

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November 09, 2017, 09:09:48 AM
 #205

I will move to another country because i can make more with bitcoin in a year then with a job in my country which i also have been working a year and right now i have earned way more with bitcoin than with that job so i could easily choose bitcoin over my country.
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November 09, 2017, 09:10:07 AM
 #206

I wish it will never happen.and if this will happen i will ve sad.i earn in bitcoin and it helps me a lot speacially in financial needs.but maybe its impoaible to happen now.bitclin is so popular now.the only priblem here in our country is the internet connection which #1 need while earning bitcoin

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November 09, 2017, 09:12:58 AM
 #207

If my country ban bitcoin, that wiill not be a problem to me, i can use another way like exchange my bitcoin into digital fiat currency, many banks in my country still accept exchanging bitcoin into digital fiat, then i will use that fiat money to pay for everything.

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November 09, 2017, 09:17:53 AM
 #208

There is no specific countries that are banning Bitcoin or cryptocurrencies, what they actually banned are the cryptocurrency exchange because they protect their sovereign currency as well. After China declared cryptocurrency exchange banning they know what they are doing and they build their own laws and regulations regarding the management of cryptocurrencies. Actually they're making their own crypto currency and everyone can use Bitcoin or any Altcoins as they like but the users are using foreign cryptocurrency exchange to exchange their tokens and coins and convert it into Bitcoin.

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November 09, 2017, 09:18:42 AM
 #209

I think the wised course of action would be to not engage with the activity and sell all of my crypto stuff as fast as possible, because you don`t want to be screwed by the state. However, if the state is a poorly managed on, which does not impliment it`s policies, like for example like in the Balkans, you should be find and all you have to do is be off the grid Smiley
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November 09, 2017, 09:21:09 AM
 #210

What I'm worried about when my country forbids bitcoin is an internet problem, if my country has banned bitcoin, then it's likely that a bitcoin-related site will be blocked.

And the exchange problem, there are some exchange sites here that I use to sell bitcoin and convert it to fiat (because here bitcoin can not be used for payment equipment, then I have to exchange it first), if the site is closed due to this prohibition problem, it will be more difficult to using bitcoin. But I will not give up so easily, there will be an alternative to still be able to use bitcoin, maybe I will make VPN as an alternative. Smiley

There's no need to block anything. They just need to announce that crypto is illegal and implement adequate regulations, like it was in China.
It's obviously the nasty way, and it will likely to create black market, so it would be much better for governments to regulate and take advantage of crypto.

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November 09, 2017, 09:21:14 AM
 #211

If my country will ban Bitcoin then my country is the only country that never understand cryptocurrency as the future of my country's economy. But if they really do, I can still use my Bitcoin, convert then into US dollars then send it to my local bank account. That's it! Very simple. Nobody can cripple or stop cryptocurrency because it is decentralized and every state and government cannot stop you earning Bitcoin anytime of the day.

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November 09, 2017, 09:29:33 AM
 #212

Btc is an international currency and it is not limited to just a particular country and therefore someone can go on with international trading if your home country bans it. Even some country in the world like china bans it but people of this same country continue to embrace it and trade with it. This means bitcoin will remain in circulation throughout the whole world irrespective of any government policies.

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November 09, 2017, 09:37:52 AM
 #213

i think a country cannot do so, or the government can't, because it is very difficult to track down bitcoin users, traders or seller alike, and any counrty doesn't' have the jurisdiction over an internet based currency, who will they ban? what company? the whole bitcoin? it is impossible.
yes my country can't do that because its very difficult for them to banned bitcoin because there are many ways that made bitcoin allowed i means people use VPN, thats why they cant do that and instead of that if they want to banned than they will must need to shut down the whole internet and this is simply impossible.

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November 09, 2017, 09:40:00 AM
 #214

I think i will use it to buy things in other countries and sell it here so that i can use my bitcoin and i convert it to our local money. Or i will asked my friends, relatives in other country if the bitcoin is not banned there i will ask them a permission to help me to convert my bitcoin in our local money. There are many ways i think that even the country banned bitcoin there is a chance if they want to have and make the bitcoin as their source of income.

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November 09, 2017, 09:40:50 AM
 #215

Any government will try to get its hands on it, they'd want to control it because that's what they do- control wealth.
That's (to me at least) most of its appeal.
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November 09, 2017, 09:43:15 AM
 #216

I dont think that this will ever happen to europe, but in case there are some countries around the world i would also like to live in  Wink
I agree because europe is not a place where bitcoin will be banned because bitcoin is not looked at i think that only country's in the east will ban bitcoin because there it is most likely that they don't like bitcoin.
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November 09, 2017, 09:53:18 AM
 #217

I guess the titles says it all. What will you do if that happens?
Well actually I don't know what to do. But maybe if that thing will happen, I will just convert all the bitcoin I have in that time. I will just follow the law because I don't want to get to jail just because of bitcoin. Yes, bitcoin helped me a lot, but I also need to follow the rule. If it is not allowed to be use then I will not use it.

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November 09, 2017, 10:05:29 AM
 #218

I honestly don't know what I will do if ever my country bans bitcoins. Because that will be mandated by the government so I don't think there is much we could do as a citizen of our country if the government would not allow bitcoin in the country. I might as well just wait until it will be legalized because eventually that's what happens most of the time.

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November 09, 2017, 10:09:44 AM
 #219

Maybe I was frustrated, because bitcoin is my main job, during this time I was very comfortable working with bitcoin. but I think as long as lots of ways to keep using bitcoin it doesn't matter I still can use vpn. like a few months ago, my country banned the use of bitcoin, but I was lucky it was only a speech alone without any blocking.
 

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November 09, 2017, 10:12:38 AM
 #220

There s no way any sane western government would opt for something like that, so I m not worried.

Even they would, I d simply move somewhere else, I love crypto and there s no way some noob, ignorant politician would deprive me from it. 

Look at China, they try to ban it, all Chinese crypto companies move to Singapore or South Korea. Who loses the most? China loses the most. Cause with these people innovations leave, taxes leave, pensions leave, COMPETITIVENESS leaves with them!

Long live crypto!

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