What if Government bans Bitcoins?

[cryptostardom]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??

I don't think the governments van block Bitcoin or blockchain related stuffs on the net. The internet is not centrally owned but some sites can block crypto or blockchain publicization, just like we saw for Facebook.

[Indrawan77]

Sure the government got the power to block the site, but there are many ways to bypass it, you can used vpn or tor browser, and as long as not all government in the world banned bitcoin then we still can figure way to cash out and bitcoin will still survive so don't worry if a government banned bitcoin

[natsu_koo]

I think banning BTC is an old idea now, governments now understood they can make money from it, and probably they can even stop it, too late.

I have a thought that is same with yours. Yes I also think that it's too late, bitcoin's identity is already spread throughout the entire globe and surely government already knew what bitcoin is, I mean governments are aware of what is happening in their country. And if the government wants to ban bitcoin they should have done it in the first place, though some country banned bitcoin but still there are places where bitcoin still survives.

[Casey7]

As a matter of facts, Bitcoin will not be banned. On the contrary, cryptocurrencies will be accepted worldwide. But for a very high price: governments will regulate and cryptocurrencies will no longer be decentralized.

Bitcoin is banned by some country and this makes bitcoin stop being used by the people in that country like india example.
Ban bitcoin only in one country can not stop bitcoin for the whole but this can impact bitcoin in negative side. Hope no more country follow bannig bitcoin anymore.

[kok jujung]

I think to block bitcoin sites need to be revisited in terms of governance because not a few people are dependent on bitcoin

[Apes]

I can not imagine if the government in my country forbids bitcoin and the government is entitled and can easily block bitcoin and other sites .. because half the revenue I earn is from bitcoin and many of my unemployed friends earn a living or income from bitcoin, and I do not think what will happen if bitcoin is prohibited by the government and how the fate of my friend or anyone who expects income from bitcoin to survive or suffice his needs .. I hope the government can think that far, because if bitcoin can be eliminated by the government I think unemployment will increased because bitcoin can provide jobs and income for those who deserve it ..

[Master Carnegie]

no government, however rich and authoritarian, can totally ban the use of coin. Bitcoin is unstoppable.

[takadada]

It is difficult for governments to ban BTC, you see that it is quite powerful, bitcoin is a new technology in finance with decentralized electronic or cryptography. And that is why governments of some countries can not accept the existence of bitcoin as a means of dealing so they think that there is no applicable tax system.

[Shreek]

hey hey, this is a decentralized asset, where everyone can easily have bitcoins without having to KYC
there will be some individuals who can easily open exchange services, to serve the domestic bitcoin users

[tuturutmunding]

Natuurlik sal dit lei tot die nadele van daardie mense wat bietjie as hul hoofinkomste maak en die aantal werkloosheidgetalle sal toeneem indien dit gebeur dat die regering indirek die land se eie ekonomiese stelsel vererger het

[fileo]

Government can banned bitcoin on their own choice and by their own limitations of boundaries. Bitcoin could not be banned by government all over the world because so far countries are not the same and not united to do things. It is impossible to banned bitcoin now.

[quyenquang1654135@gmail.c]

IPs of that country will not be traded Bitcoin. If Bitcoin deals then it would be illegal and could go to jail.

[dinhthin5446134@gmail.com]

If they are developed countries, big countries such as China or Korea will surely be a huge loss to the market.

[Jesusghergo]

If Bitcoin will be banned by the government of the country I am a citizen, then it is very unfortunate for me. My country recognize the worth of crypto currency and Bitcoin is legal to use in the different transactions. That is why, I really don't think the government will eventually banned crypto currencies in my country.

[tung06081989]

i don't know if all country bans crypto market then the crypto market will go where,the crypto market very difficult to grow up because all country will try all way to ban crypto market and we will be limit,the crypto market will die,but now i see there are many country support crypto market so i beleive next many year there are many country accept crypto market

[Pamadar]

Sure the government got the power to block the site, but there are many ways to bypass it, you can used vpn or tor browser, and as long as not all government in the world banned bitcoin then we still can figure way to cash out and bitcoin will still survive so don't worry if a government banned bitcoin

Logically correct, as long as there's still countries that will continue to recognized the value of bitcoin then we are still have a way to sell out our remaining coins, even the country we are living with are already declared or completely ban  bitcoin, for sure if there's a will there's a way and if its the best place to earn for sure many people will still participate and after some time when that particular government start to realized the potentials of this internet currency they will begin to adopt and forget about banning the coin.

[biskitop]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??

the possibility is very big, because if the government has banned bitcoin and banned all exchange sites, then the wallet was also no meaning anymore.

[Ssid]

No need to say if. It happens right here. Chinese government heavily regulates bitcoins (Just like with everything else)
We are in a CLOSED economy. we cannot do much

[Leo Barnes]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets??

I don't think that authority will spend a lot of money to block bitcoin in all sites in order to have totally banned in bitcoin. but some other investor and government itself show interest in blockchain technology.

[dinhthin5446134@gmail.com]

That would be a loss because the capital from that country would be withdrawn. And will lead to the price of coin will decrease without braking