What if Government bans Bitcoins?

[12tribes]

The possibility of the entire governments banning bitcoins or crypto is very slim, but if that happens you will need your independent server station which only a few can afford and usage will be monitored or limited such that you will be warned by the government to not open any gateways that people can use to access the website. Having said that, the government may want to also not issue licenses to intending or prospective individuals whoi cannot present a clear case portfolio of why they will be needing a special provider since the other sites are open. This could really clamp down on the usage and patronage of crypto.

[maman09]

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??

which government do you mean, we are here joined from all over the world
and prohibition has occurred for some countries especially in asia. but I do not think that's a problem for now, there are many ways I can do to still be involved in the crypto industry. but you have to use internet networking techniques.

[Choy13]

Its possible for the government to ban bitcoins. As of now some of the countries are banned by using bitcoin. Government doesn't allow bitcoin in their country. I think if they don't ban bitcoin and do some business talk like sharing and allowing bitcoin in their country is the most efficient because they will also take some benefit of the cryptocurrency.

[Btcmaeng18]

That was happened to other country one example is china and I don't know exactly what is thier reason. But for now bitcoin is continuing soaring high and lets continuing to support its popularity.

[baricuri]

If your government prohibits BTC you can trade them in places where your government is not banned, I do not believe that the government manages all online transactions. And the government can not ban the fake ip to log into the sale.

[TheGodFather]

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??

If your government or our government starts to ban the sites or all other related cryptocurrency networks then i think that our coins would only be accessed when used theough something that can bypass it or via accessing it in another clu try where it is not banned. I do believe that they have the capabilities or power like those as they can have a routing jurisdiction to the network that comes in and out of their borders. Its still a far fetched resolution and I still believe that it can be acceted eventually

[letsfly]

If government can ban bitcoin, they should have done it before. I believe bitcoin, blockchain and digicurrency are the future and slowly it will be accepted by everyone even the government.

[DoublerHunter]

It will become a tragic for most of the people who have bitcoin because they will lose their money since they cannot do transaction with bitcoin since the government already ban bitcoin. I hope that in the future, it will not happen and bitcoin will become a tool for the government to come up with a better ideas using blockchain and not think about banning it.

[justinstewart704]

Governments cannot bans bitcoin. because it sells Bitcoin Internet .they can not ban the Internet.as a result there is no concern.

[Mandoy]

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??

If all the governments in the world will ban bitcoin, then bitcoin will be very useless and will only become a digital number without a value. Also the existing coins will still be on the wallets but you cannot use it any longer.

But this kind of scenes is very impossible since there are already many bitcoin users all across the globe, though they are not the majority but if the government will think of banning it protests and rally will be held. Banning bitcoin for countries who already have accepted bitcoins will have a bad effect on their economy and will cause an intense increase on unemployment and poverty.

[wiik]

Whichever country that would ban BITCOIN are stupids . Even USA accepted it , tho its regulated its no banned at all . Crypto currency / bitcoin helps many people get a few bucks legally . Tho yes , some people use it on their shady businesses on darkweb . Instead of a BAN , they should just regulate it or something . In my country they dont give a fvck about bitcoin / cryptocurrency , they just warned the people about ICO's and thats pretty much it . They know that it could help us , their people to get extra money . So ye , those who banned cryptocurreny are idiots 

[sirenmoon]

If your government prohibits BTC you can trade them in places where your government is not banned, I do not believe that the government manages all online transactions. And the government can not ban the fake ip to log into the sale.

It wouldn't be in their interest to ban BTC as such. Bitcoin has become widely known and governments had already tried to interfere in the transactions that include Bitcoin. Problem is that they cannot do much and instead of their restrictions they are trying to adapt to the new situations. Governments of each country specifically are earning from the tax provisions that the citizens of the certain country are giving them because of their investment in the crypto. A strongly regulated law that cannot be easily surpassed is regulating the transactions into the FIAT. Even if the Bitcoin was created as anonymous coin it isn't so anonymous with direct transactions that cannot be avoided in the eyes of the governments. Governments won't ban BTC because that is their newly income profit which they have adapted with.

[Jolozxc]

Some of the countries banning bitcoin / cryptocurrency now. I think they will really going to banned it in the future if bitcoin will going to replace or more people from that country will going to use it instead of their natural money. Also for me it will really a big problem if they going to banned it because a lot of people will be affected from it.

[iv4n]

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??

If all the governments in the world will ban bitcoin, then bitcoin will be very useless and will only become a digital number without a value. Also the existing coins will still be on the wallets but you cannot use it any longer.

But this kind of scenes is very impossible since there are already many bitcoin users all across the globe, though they are not the majority but if the government will think of banning it protests and rally will be held. Banning bitcoin for countries who already have accepted bitcoins will have a bad effect on their economy and will cause an intense increase on unemployment and poverty.

To say that I hate this kind of topics where op talks about government ban but without specifying in which county, with more about what kind of ban can government suggest and will it be accepted by all citizen representatives. Will people obey or they will find a way to skip government regulations and continue to use bitcoins illegally. This can be discussed only about one specific country, whole world have many countries and they will never ban crypto all together, that is impossible scenario as you say.
I will say again what I always say, if my government ban crypto I will continue to use crypto illegally, there will be a way always.

[jonsnow29]

I am always praying that Philippine government will not ban crypto-currencies. I have better finances now because of Bitcoin and Alts. I will be very sad if crypto will be banned in my country.

[Juggy777]

There's something called as VPN and no governments won't ban it, even if one country bans it another country will accept it, just simply use vpn and sell or buy there, there is no need to worry. Now even facebook has revoked crypto ad ban so it's a matter of time before all governments to revoke it, good days for bitcoins are coming just be positive.

[Odlanyer]

Some of the country are not accept bitcoin because they afraid that they can't control the quickly spreading, but bitcoin is very strong so they don't know what to do to ban bitcoin and bitcoin will help us to gain lot of money to us.

[artichandra]

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??

It already happen sir, bitcoin already getting in some country i think bitcoin get banned because bitcoins against their laws but some of them not completely banned bitcoin they just give some regulation to that.

[zolfa]

I think, if the government bans the growth of bitcoin, then the development of bitcoin will be slow.

the crypto market will not reach the maximum price, the market will not be stable, even some altcoin will have no value, including every coin that in your wallet.

[Nanashev]

Most nations in the world have accepted bitcoins and its operations. Even though a few others government have not yet authenticated the use of cryptocurrencies in their countries. As bitcoin mining and developoment have been a successful campaign in several countries, i trust governments will rather legalize cryptocurrencies instead of banning them.Even if the government of your country bans its operations, you will not lose you bitcoins. You can still sell them for foreign exchange.