Will You Still Get Into Bitcoin Even if the Gov't Declared it Illegal?

[DirtyMartini]

Tough question, but if I'm honest, yeah I probably would..

I'm lucky that in Australia, our government is rather supportive of Bitcoin and cryptocurrencies (even if the banks are not) so I won't have to face this situation any time soon.

But, if that was not the case, I'd still probably keep a stash of Bitcoin locked away somewhere - It wouldn't be that hard.
I'd be happy to cop a fine and slap on the wrist if I got caught 

If the punishment was more serious, like jail time, I might reconsider..
Or move to a different country

[Liquidathor22]

If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.

[qwertyup23]

If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.

I slightly disagree.
With the government intervening with the processes and systems of bitcoin, rich/famous investors and even big marketing/trading companies who are responsible for the increase of its price would start losing interest, thus making it immaterial and irrelevant to the market which would decrease its price significantly. But this scenario is very unlikely to happen considering that the market is full of other alternate coins for investments. Not to mention, if bitcoins were to be illegal and you still chose to meddle with it, it is no different from transacting drugs/guns due to their nature being opposing to public morals.

[btc-facebook]

I still want to earn money / profit from bitcoin trading so even though that my government decide to forbid bitcoin, I will find the way such like using VPN or convert bitcoin into paypal so I can still earn bitcoin profit.

Maybe the most extreme case is moving to another country !

[entrepmind23]

No, I would be out of bitcoin because I don't want to risk my life to be in prison because I want to earn some coins. I can't cash out anyway because banks and any other means to convert it to fiat would not allow it since it is illegal so I would have to find other means to earn another source of income. Fortunately, our country allow us to trade bitcoin and even cash out it banks but they are thinking of regulating the platforms and I have no problem with that because I can still earn.

I have been thinking of the what ifs and one of the scenario is the total ban of crypto in our country so from time to time, I cash out and start funding another business in the real world so that I would have a fall back in case something happens not in my favor.

[Erichallig]

If banning Bitcoin would actually happen, and it would be made illegal for possessing or trading Bitcoins it is difficult for the governments to compile a plan to enforce such a ban. Unless Bitcoin traders hand over their private keys, it is impossible for the government to seize those Bitcoins.  but if due to government pressures the bitcoin bubble will burst, i will stop.

[stompix]

Goverment can stop everything)))

Nope they cant. Because it is just common that rich people can control the law. And also there are times that a government also is making profits with this so called bitcoin. Different countries different problems, so it maybe illegal in other places, it is legal in other places. So if your country has rich businessmen who invested in bitcoin, they can always make some leeway to escape tax.

Oh but they can!!!

Most people here haven't lived in a totalitarian regime , or a communist country.
They can stop everything!!!!
Power, tv,cellphones, water,gas and ...food!

Check out some pictures from the "education" camps.
One week in one of those and I'm willing to bet you would shout 2/47 "Bitcoin is a ponzi!!!".

People have this idiotic idea that the internet is free, that nothing can shut down the internet.
If we indeed manege to make the wrong choice and elect some stupid dimwits in the EU and US (really dimwits) that are against BTC you will see how it can be stopped.

Fortunately Europe is not Bangladesh or Nepal.

[Liquidathor22]

If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.

I slightly disagree.
With the government intervening with the processes and systems of bitcoin, rich/famous investors and even big marketing/trading companies who are responsible for the increase of its price would start losing interest, thus making it immaterial and irrelevant to the market which would decrease its price significantly. But this scenario is very unlikely to happen considering that the market is full of other alternate coins for investments. Not to mention, if bitcoins were to be illegal and you still chose to meddle with it, it is no different from transacting drugs/guns due to their nature being opposing to public morals.

An end to bitcoin means an end to all other coins in the market. People can't be stopped on what they, no matter how the governments actions, people always find a way. Since transactions on bitcoin is anonymous there a small possibility that big investors will pull out their money.

[JRDuran]

If there is a way I will but I don't think that could be possible. Government will ban all the wallet exchange So I think there is no for that as exchanges is the only way for us to convert bitcoin into cash.

[dokie987]

Even if bitcoin is illegal in my country in case, i still do secretly joining the bitcoin. If this is the only way to be successful and can help me in my financial problem, then i still make it.

[Namaste Coin]

I was just talking about this with someone. If the crypto I am starting becomes a success, I will move to another country... likely somewhere in Europe. However, I don't believe the USA is going to completely outlaw it anytime soon. Our economy needs this boost of innovation and cash flow. Regulate the hell out of it, yes. Completely ban it, no.

[orions.belt19]

Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?

It would depend on my perception of enforcement action. Are they packet sniffing on individual citizens? Would I get thrown in jail for making a Bitcoin payment? Most governments are stretched too thin for that and are probably just interested in a blanket deterrent if they institute a ban. The use of VPN and TOR might be enough to hide your activity.

The real problem is when the governments start banning VPNs and turning TOR into a honeypot. Decentralized mesh networks can't come soon enough, but at this point, they still feel like a pipe dream.

Even with VPNs and TOR, I'd probably still not use bitcoin or any other crypto once a ban is declared in my country. It might not be worth it to continue using bitcoin if an individual would have to be discreet or hide their activities. Although it's not likely for the government to check on each user individually, it would still be difficult to use bitcoin discreetly. With the possibility for all of the local exchanges to shut down, it would too tiresome and a hassle to make transactions. Even the mere possession of bitcoin may get you in jail if a ban were to be constituted.

[Harlot]

It depends on how strict will they enforce their laws about it as some country only create laws but not enforce it. If that is the case I can still safely earn Bitcoin even without worrying that i'll be caught in the future. Now my main problem will be of course cashing Bitcoin out to a Fiat Currency which it would be hard as no one will be brave enought to have big transactions involving Bitcoin so I meed to go out to the country and  cash it out to another foreign Fiat Currency.

[Virtual miner]

Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.

Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?

 

My first reaction would obviously not. But it largely depends upon the punishment and scrutiny they make. I mean if there is just a menial penalty for using bitcoins which can really be countered using whole of income through bitcoin then I will never leave it but yes if the laws are stricter in which officials are even ready to put people using bitcoin behind bars then obviously I will have many thoughts before using it daily.

[gentlemand]

I'm already in. Would I leave? I don't really see why I should when it was perfectly legal when I arrived. And the coinciding announcement would wallop the price so much there wouldn't be much point in selling. I'll just nip off abroad. There'll be plenty of jurisdictions where it's fine and I can bring all my trillions with me on a piece of paper with a few words on it.

[jacob7]

if the government of your country banish bitcoin then nothing that the people of that country can do, because banks, exchange and all actors that directly or indirectly allow you to buy and sell bitcoin will not accept that you buy and sell bitcoins. see for example my case, I am from a country that is restricted to using bitcoin debit card, so I can spend my bitcoins in my country I have to pay many fees and do lots of processes. Sometimes it becomes very annoying the processes that I must do so that I have my bitcoins in my bank account of my country.

But still  you can get out your money, i guess. if you have bitcoins in your wallet, you can visit nearby country where it s legal, you just go and convert bitcoins to USD or any other currency that you like 

[lili song]

Yes I still get bitcoin. For me bitcoin is still investment and asset for my future. Bitcoin not stable yet, but every day is increase.
I sure one by one country, the government will legalized bitcoin in the future.

[carlfebz2]

Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.

Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?

 

If government do impose laws regarding on prohibition for its citizens to got involve on bitcoin or any other cryptocurrency then expect there would really be a risk on getting fucked up once government would able to trace you out that you are still engaging on it but chances would really be slim in my own view. People can always make transactions or involvement on bitcoin without being traced but come to think off that you should really know how to hide yourself.If your careless then be ready to stay behind bars specially if the government on your country is too strict related to this one.

[stomachgrowls]

Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.

Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?

  

Of course I would still get or involve into bitcoin even my government would really restrict its citizens from doing it and have been said by the guy above better to be careful for not to be caught by them.If they did then you will surely suffer knowing that government would really not tolerate for those people who do oppose their laws or rules.It will really be a risky thing if you decide to remain to deal on it but always put in your mind that you should really be careful on what you are doing.

[darkangel11]

Oh but they can!!!

Most people here haven't lived in a totalitarian regime , or a communist country.
They can stop everything!!!!
Power, tv,cellphones, water,gas and ...food!

Check out some pictures from the "education" camps.
One week in one of those and I'm willing to bet you would shout 2/47 "Bitcoin is a ponzi!!!".

People have this idiotic idea that the internet is free, that nothing can shut down the internet.
If we indeed manege to make the wrong choice and elect some stupid dimwits in the EU and US (really dimwits) that are against BTC you will see how it can be stopped.

Fortunately Europe is not Bangladesh or Nepal.

We already have. In Europe Merkel and Macron are indirectly committing genocide on their own people by inviting more terrorists into their countries and making the taxpayers cover their expenses. As a result they have to increase the spending on police and army to fight those terrorists in their own countries and clean up after each new attack. And there are attacks basically every month.

As for the governments going against BTC, it will never happen globally. The world has always been divided, that's why we had wars. Some countries have nuclear weapons and some are against them. If some governments ban it there will always be others that will endorse it.