What if Government bans Bitcoins?

[Oppang Inamo]

If government bans Bitcoins, it can be also a downfall to them. Bitcoin is an alternative of a much faster transaction and bills payment. With the bitcoin be illegal, the time of manual payment will be back which is much worse than living in hell.

[DiabolicAnt]

I think we can find new ways to reach our BTCs. Those who are really interested in crypto will continue dealing with it even if their country bans it. And it sound unreal to me that all the states will ban BTC because cryptocurrency is a very promising innovation.

[kyledavid]

if bitcoin will be banned in our country it will become a big problem for me since this is my major earning opportunity in the house since i don;t have that much educational attaintment which i can't  apply for a better job in our country . Bitcoin is one of our main source of financial support for my family so i might not know what will i am on that day if bitcoin will be ban . Luckily our government regulated bitcoin and other cryptocurrency in our country

[primarydumz]

Bitcoin is so popular right now, so theres no chance that bitcoin will be banned. Aside on other country which is very stricked when its come to cryptocurrency. Its depends on what goverment are you in.

[caeles]

Banning it in some countries are possible but banning it all over the world is quite impossible. Besides, many countries already accepted the crypto, and actually made an atm for btc. In other countries, btc were already accepted as payment in exchange for their goods.

[Desscount]

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 are you discussing? because not all countries will ban bitcoin, you should be more clear if you want to discuss more to bring the country. and some countries have clearly banned bitcoin and crypto trade, in some Asian countries this has happened like a case in china country. maybe you are late in all the news information.

[gabmen]

Banning it in some countries are possible but banning it all over the world is quite impossible. Besides, many countries already accepted the crypto, and actually made an atm for btc. In other countries, btc were already accepted as payment in exchange for their goods.

Well the question is if it does get banned. Of course we know that a lot of countries are.considering bitcoin a step towards the future, but in case it gets banned and illegalized everywhere, we all know it can't survive.

[Binugon]

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??

This virtual currency turns out there are various types, not just Bitcoin. At least, there are some virtual money names, such as Litecoin, Peercoin, Primecoin, Namecoin, and so on. Bitcoin is one type of virtual currency that develops and many reasons First, full of speculation because there is no official authority. Secondly, there is no underlying asset underlying the price of virtual currency and a very volatile exchange rate. And if more and more governments are banning the bitcoin there will be no value anymore.

[Peashooter]

Some countries were already banned bitcoin, and here in my country they did not banned it not because they don't know what to do but they find bitcoin as an interesting and a great opportunity for the people, and a big help in our growing economy.

I am so lucky cause my country Philippines accepted bitcoin cause they know it is big help for there people to get more opportunity to become successful in the future. I hope some countries that bitcoin maybe one day they realize that bitcoin is really big help for them and there economy.

[Spontebob]

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.

Local government plays a big part in the world crypto currency and bitcoin. They have the power either to ban it or make it legalized that can be difficult for trading and selling purposes if the legalization is not granted. However, there are also countries that are making it neither legal nor forbidden which is somehow a good thing.

[Wish 107.5]

Banning it in some countries are possible but banning it all over the world is quite impossible. Besides, many countries already accepted the crypto, and actually made an atm for btc. In other countries, btc were already accepted as payment in exchange for their goods.

Yes, banning it worldwide is impossible but if government will ban bitcoin in a particular country, many people will be mad and a lot of them will be disappointed.

[Renai0925]

If ever they did ban access to exchangers/wallet sites, there are a couple of ways to access them from spoofing our IP addresses or using third party access (not recommended though). The people will always find ways to do it no matter what. If worse comes to worse, if you don't have the private key to your wallet, it's gone.

[Meowth05]

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 answers is simply those coins will be in vain. If Bitcoin and other cryptocurrencies get banned across the wold even those trading platform that is connected with it will vanish in instant. However, don't be afraid because it is impossible to happen moreover, other countries like Japan have seen the potential of bitcoin that is why they legalize it. Therefore, transaction with regards to bitcoin will not gone but it will not be the same as it like before if bitcoin prohibited.

[Mr. Legendaris]

I do not think this is a problem, the fact is that many countries are banned bitcoin but proven that bitcoin users are so loyal that bitcoin can survive until now, for example china is banned bitcoin when it became the largest bitcoin user, but it turns out it does not affect time long.

[notyours]

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??

Bitcoin has a great deal of help to us especially in the government because they can earn a large amount of tax. So it is impossible to happen because many people do not agree with it. So let's not think about it because the bitcoins can not be stopped and it's going to be our future money. Be prepared for the crypto currency revolution where our money can not be held and it is usable with our android phones.

[wavesdonotunderstandme@gm]

I think technically it is impossible to prohibit Bitcoin and all kinds of electronic money. And many government officials are not bad at getting these assets. Self Blockchain is very useful - I do not understand such arguments.

[King_Linda]

You need to ask this from people in which countries have banned Bitcoin, like India Bangladesh and some of the people I think they can best describe how to live up to the ban.

[BigBos]

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??

Bitcoin has a great deal of help to us especially in the government because they can earn a large amount of tax. So it is impossible to happen because many people do not agree with it. So let's not think about it because the bitcoins can not be stopped and it's going to be our future money. Be prepared for the crypto currency revolution where our money can not be held and it is usable with our android phones.

well, no matter how good we describe bitcoin, it would be useless if the government rejects it. some countries still think that bitcoin, or cryptocurrency is a threat that can reduce a country's taxes. well, we also know the negative things that bitcoin has. but I think if the government banned bitcoin, it will affect the bitcoin price.

[insurgent]

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??

Some countries already banned bitcoin. Yes bitcoin is helpful and has made a huge impact on our lives but it wont matter when it comes to government. They want to control over everything. If it will happen , its hard for us to adjust since some of us are living and sustained using bitcoin.

[dekumidoriya]

Before banning the bitcoin in a certain country there is a procedure in the government whether this policies they will impose will benefit all or not, there will be votes to tally if they will ban cryptocurrency or not, it is a pain-in-the-ass procedure that it will take a long time for these policy of banning bitcoin is in effect, government also should hear out the voice of people whether bitcoin benefits them or not too.