What if Government bans Bitcoins?

[Altas]

Government banning bitcoin is getting common around the globe, but those countries that banned bitcoin long back has now taken back the ban realizing the good about bitcoin. We need the patience or else the understanding about its need to be active into cryptocurrency.

[Kelvinikke]

oh yeah the government can really do that but i am not sure my country would go to the extent of banning it absolutely. The reason why most governments don't like bitcoin is because of the tax system that transactions made in cryptocurrencies evade. There could be rules that it is not legally accepted as a mode of payment but in case you as an individual has some bitcoin you can trade it on any exchange market for fiat currencies and use the fiat currency.

[1van__]

I do not think that the government will prohibit bitcoin, but in the future it will exactly tax it, like ordinary money

[pavka]

It is rather difficult to impose a ban on using crypto currency. It is much easier to undermine the trust of people, for example, to bitcoin, so that the coin will lose its popularity.

[kr105]

It is possible for Governments to prohibit the purchase and sale of Bitcoin by regulating certain laws but investors who want to buy Bitcoin will find a way to overcome it.

[natasharul69]

Yes, the government of many countries against the cryptocurrency, because they are used to controlling people.

[natasharul69]

If the country has a smart and far-sighted government, it will not risk banning cryptocurrency.

[Helex]

They can only ban fiat gateways from where users buy cryptos, bitcoin will stay here as long as there will be bitcoin.

[Darklinkz]

Countries that have huge markets are all going crazy on bitcoin and cryptocurrencies so small countries should be ashamed if they do it. 1st world countries are not like poor countries that are stupid to see what's going to be profitable in the next 5-10 years so governments will not ban it.

[btc-facebook]

When the government decide to legalize bitcoin, they have calculate the things very carefully but if in the future, they decide to ban, it's become their policy to improve the regulation about cryptocurrency.
As we know cryptocurrency still not being accept on all country because it's volatile and some recent news about hacking incident.

[Saraki Goo]

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.

[ipanks]

I think if the government bans bitcoin then we cannot use bitcoin for free again and if we want to use bitcoin, then we need to stay under the radar and we need to use VPN or proxy. it is not good if somehow the government bans bitcoin and they can make many people which join cryptocurrency will become desperate and sad. I think the government will think about this and they don't ban bitcoin so people can still use bitcoin without any worry.

[hdtqisg]

Will be a huge obstacle to the development of bitcoin and altcoin! I said that most countries will support Bitcoin and altcoin! But it takes time for every nation to realize it!
 

[mahvia]

it would go undercover and start breaking down the financial institutions that have made the ban possible.
and XMR would gain a lot

[Truefaithfire29]

I don't want affraid that bitcoin will  banned in my country, because my country are also bitcoin friendly,to use as sudsidy to paper money so that I must confidence to say that ,maybe it will depend upon to other country,

[Subwooferred]

Will be a huge obstacle to the development of bitcoin and altcoin! I said that most countries will support Bitcoin and altcoin! But it takes time for every nation to realize it!
 

Yeah, not only does it "take time for every nation to realize it," but it'll take quite a while for the governments to find a way out of the stalemate: on the one hand, it could bring them big profits, on the other - they can't control it, so it could potentially bring about some trouble, which isn't something a government would like to get into

[albert11]

Then you only have three option stop earning in it ,Continue or move to another country where they don't ban Bitcoin,
If you choose to continue without leaving your country then you are going to be charged by the law since your country or government bans it.
So if you really want to earn in crypto and think that you could earn a living from it and earn more than a regular wage earner could earn then move to another country.

[Dukjila]

A recent report published by the European Parliament advises policymakers and regulators not to ignore cryptocurrencies or attempt to ban them. It discusses how crypto should be treated, their taxation.
So taxes will still be introduced.

[memyselfandi]

No they don't because they can't. On my own perspective, no one can ever ban or control the bitcoin because no one is in control with it. Even the president of the particular country don't have the capabilities to ban bitcoin or cryptocurrency.

[cheezcarls]

First and foremost, Bitcoin is a decentralized cryptocurrency. It means banks and governments have no control of it. However, they could only regulate the use of Bitcoin. A common reason why Bitcoin was banned in some few countries out there because they had a lot of misunderstandings about its technology. They need some sort of education about Bitcoin to make things clear for them.