What if Government bans Bitcoins?

[Pinkris128]

it is very unfortunate. because people cant experience what bitcoin does. Many people are very happy in bitcoin because its more freedom in here than in the banking system.

If bitcoin was ban by the government then we will not experience the benefit lf it. Peope will just rely on their real job to have an income. Lucky are those country where bitcoin was not ban because they can earn more money and extra income from it. But still people can survive without bitcoin because even it was not invented we people can still be happy with the fiat that we have.

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[Lucifers]

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??

Of course the bitcoin in my wallet will still be there, but it's another story if the government is hunting down the wallets of bitcoin users. I'm sure the bitcoin will be taken by the government because no one will be allowed to use bitcoin anymore. Waiting for time so the government does not tire bitcoin anymore is probably the right choice.

[Shreek]

there is always a way to get through the big wall that is blocking from the government, but the price effect will not be unstoppable
the government is very influential on the development of Bitcoin, if they make a ban, then the number of users from the related countries will be reduced drastically, which causes will panic sell and price will drop

[jakezyrus]

if ever government ban bitcoins then bitcoins will be gone but only bitcoins and there are still a lot of cryptos out there that we can still use. Anyways ban may seem imposible to happen globally because we already know that bitcoin is still indemand due to its usefull ness.

though i heard some country did already ban bitcoin and it did somehow affect the current price of btc.

[mcmchdlg03]

On  the off chance that an administration chooses to make exchanging or having Bitcoins unlawful, inquiries will be raised about how such a boycott would be upheld. It is outlandish for an administration to seize Bitcoins, except if the private keys are given over.

Be that as it may, the lion's share of nationals and organizations like to remain erring on the side of caution of the law. The interest for Bitcoin would fall an administration chose to boycott it.

all trades in that nation would likewise be covered and purchasing/offering Bitcoin would be troublesome and dangerous this would suffocate Bitcoin in that nation and the administration's destinations may be accomplished.

The crypto is as of now illicit and out of their achieve they can't make a move so the inquiry is the way legitimate the cryptographic forms of money can get the chance to get brought up in esteem and be more steady.

[camily.june24]

Government can not ban Bitcoin because it always acts in deep web

[GDragon]

Maybe you are new is this field. In fact, some of a government we're already ban bitcoin then the result was dramatic movement of Bitcoin's value. Today bitcoin has continuing to correct the market value and some of investor also was affected.

[Nunii]

If all the countries will ban it, then we are doomed. But I guess not, they are just looking for ways to reasonably regulate it and minimize the risks of users' being scammed and hacked, security overall. After which, we can go all the way and explore every dimension, bitcoin and blockchain technology has to offer.

[fishball]

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??

Coreect me if I am wrong with this-it does not matter whether the government bans bitcoin since bitcoin is decentralized it can still function or operate freely. So i think it is useless banning bitcoin.

[Aeneous]

Well, there is nothing much we can d if the governments decided to burn BTC, there re a number of governments already which have banned BTC,  and prohibited its operations and the crypto market is still surviving, It must be noted that this doesn't mean that its okay for the governments to Ban BTC, infact we could use the government support especially now that the cain is losing value

[wengden]

Goverment cant ban bitcoin. Infact,government can earn a lot of money in bitcoin. They will just take it in secret transaction. As you can its like that government is against bitcoin but truely is they really love bitcoin. I know some of the politicians are using btc to earn.

[Karakas]

if I think the government will not be able to ban bitcoin and eliminate it and the government will not be able to ban bitcoin. Because in the world already many bitcoin and bitcoin users who have also been supported by people in this world. Even developing countries have received bitcoin

[fipper]

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 think the crypto currency will develop later along with the development of technology if blocked or removed will certainly emerge another virtual currency and will continue to grow

[ace1105]

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 think the crypto currency will develop later along with the development of technology if blocked or removed will certainly emerge another virtual currency and will continue to grow

You are right, there is a possibility in the future that the governments will ban bitcoin, but after that I am sure a new coin will be created and will also be like bitcoin, this will not stop developing and governments cannot stop it.

[Dico88]

This will have a negative impact on the entire crypto community and asset holders but that may be taken into consideration by some major countries such as Switzerland and the Netherlands today's bitcoin attitudes are far from happening so that even countries are willing to limit locally bitcoin to scarce things to ban bitcoin entirely.

[Mr.grin]

well, I'm sure the price will decrease. it happens when china bans bitcoin. well, although the price is not so falling, but I think if other big countries banned bitcoin like japan, of course it will make the price fall, and less trust.

[KuromaYoichi]

They can't ban it but they can prevent crypto from expanding by making it harder for people to buy or withdraw money from crypto. People can still use their crypto but if they can't withdraw it to fiat then most people will leave it. Right now there's only a few places that accept crypto so the talk about just using crypto to buy daily necessities is nonsense.

[wizmo]

It can affect the price and the users of bitcoins but you can still use the bitcoin you have in your wallet. There are many ways you can use bitcoins if government restrict access to it. In my country government banned many sites but I can still surf it without any issues.  

[Milletsky]

If the government bans the bitcoin, i think this will be a difficult moment to go forward and execute. We need the help of legal authority to make us succeed in this investment.

[Destofe]

If the government banned the bitcoin,  then it will be hard for the earners to earn a bigtime money because bitcoin is one of the highest rate currency in the world.  If it will be banned i think its a very crucial issue for the earners in the country who banned bitcoin.