What if Government bans Bitcoins?

[hacker1001101001]

I think even Government bans the use of bitcoin it will still have value as they are a great example of the use of blockchain technology for better and digital future. Many people have made bitcoin as a there everyday digital currency and I think they will never stop using it.

[chamathnavodya7]

They can’t do anything .It is not possible.I think bitcoin will become a major part of the business world.

[Markettoken]

the government can do anything including banning the presence of bitcoin but I think the government will not ban bitcoin in the future because I think bitcoin is a digital currency that is very likely to help the country in the future and the government does not need to prohibit let alone block enough to provide rules that may be taxed

[rabs]

Government can ban the Bitcoin but can not stop the Bitcoin,Because Bitcoin is block-chain based technology and an independent which allow people to employ skills and invest to earn in short time.Bitcoin currently leading all other mediums of investments it is because Bitcoin have potential and the day is not far government will realize to consider Bitcoin as legal tender.

[ipanks]

although the governments ban bitcoin, it won't stop bitcoin user to use bitcoin because as long as we can connect with internet, then we can search the other way so we can still use bitcoin. I don't think that the government bans bitcoin because they know that bitcoin is something that can give benefits to them so maybe they only want to control bitcoin.

[sniper2018]

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??

There could be a big effect if they truly banned bitcoins. Those who have made cryptos as their partner in daily life will be affecting on this sinced they cannot be able to continue in making online transactions. Perhaps, if they don't blocked the site then we can stil do our job here.

[jcarlo]

Government can do what they want but bitcoin is decentralized system and no government law can reach this system. Bitcoin is not a security and its no need regulation from government.
Governement regulation needed on cryptocurrency exchanger or crypto trading. If we owning bitcoin, its legal because its not a security

[Odlanyer]

Some countries was already banned bitcoin and some countries are didn't ban because governments don't how to ban it and other governments understood the main purpose of bitcoin that's why they didn't ban bitcoin because bitcoin can make money for them.

[tannerchum]

Government can't demand their wants in bitcoin. They don't have power to ban or close all website that related to bitcoin or crypto currencies. But we need to be careful because some of the country are making their moves to vanish bitcoin in their country.

[calumbautista23]

Government of a country banning bitcoin simply coins there will be no merchants allowed to accept bitcoin as payment, atleast legally. you can still use your bitcoin it's just limited

[kucritt]

as long the wallet that you have is not accessed by anyone i think the coin in that wallet will be in there forever until you or other people with the private key open it and make a transaction with that address. so if your governtment ban bitocin you can give / sell your private key to other people across the world

[key_z]

In my opinion, even if the government prohibits bitcoin, people still use bitcoin as usual. Nowadays, there are many countries that have banned bitcoins. In my country, the government has banned the use of bitcoins.

[pinoyden]

Government can't demand their wants in bitcoin. They don't have power to ban or close all website that related to bitcoin or crypto currencies. But we need to be careful because some of the country are making their moves to vanish bitcoin in their country.

that is right . governments cannot possibly ban all crypto related sites especially bitcoin because they do not own it , no one owns the blockchain technology or the bitcoin because they are all created to be decentralize however the government can somehow block or restricts our isp or internet provider to access the sites that they wanted to block but luckily there are still methods to bypass those site restrictions just by simply using an vpn or other tuneling apps

[Traslavin]

Government can't demand their wants in bitcoin. They don't have power to ban or close all website that related to bitcoin or crypto currencies. But we need to be careful because some of the country are making their moves to vanish bitcoin in their country.

that is right . governments cannot possibly ban all crypto related sites especially bitcoin because they do not own it , no one owns the blockchain technology or the bitcoin because they are all created to be decentralize however the government can somehow block or restricts our isp or internet provider to access the sites that they wanted to block but luckily there are still methods to bypass those site restrictions just by simply using an vpn or other tuneling apps

Even till what is current situation of bitcoin today, there's no such direct banning of bitcoin when we would talked up about the whole because bitcoin is not under in any regulations and law of one government which is a good thing for this. And besides aside from being no tax, and no obligations in a country your sole profit is all yours.

[Tashi]

If a government of a certain country bans Bitcoin, it would probably restrict them from having access to Bitcoin. They would block websites that has something to do with Bitcoin. And also use CIAs to track down all any illegal actions that has something to with Bitcoin.

[gamersarap]

I think,If the government will ban bitcoin, they should ban internet first so no one can access and use cryptocurrency.If the government forbids virtual currency,people can use underground transactions and trades where specific browsers are used.

[Gotumoot]

Government can't demand their wants in bitcoin. They don't have power to ban or close all website that related to bitcoin or crypto currencies. But we need to be careful because some of the country are making their moves to vanish bitcoin in their country.

that is right . governments cannot possibly ban all crypto related sites especially bitcoin because they do not own it , no one owns the blockchain technology or the bitcoin because they are all created to be decentralize however the government can somehow block or restricts our isp or internet provider to access the sites that they wanted to block but luckily there are still methods to bypass those site restrictions just by simply using an vpn or other tuneling apps

There are countries that banned bitcoin. Every country have different point of views on bitcoin, some are against to bitcoin and some are not. If bitcoin is banned in your country, and you really into bitcoin, then i suggest to go to the country that is approving bitcoin. I suggest go to japan, because it was the most promising country in terms of approving bitcoin.

[Amokomowo2005]

if ban or not ban, bitcoin will still continue to exist and people will still have access in trading it because its decentralized.

[ASUS7]

sometimes the government makes unreasonable rules, I think crypto deserves in embracing

[tonyja2017]

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 the government bans Bitcoin, banknotes and banks will continue to flow in the modern economic system. It will remain strictly governed by governments. Transactions will take time and unnecessary costs with the emergence of third-party banks. Less privacy.