What if Government bans Bitcoins?

[jupppo]

in my opinion, the prohibition of Bitcoin is not possible, since it is not material money that can be withdrawn or terminated the emission process.

[Sandijoee]

if the government succeeds in banning bitcoin, maybe bitcoin will disappear or die. But I think the government will never be able to ban bitcoin because many bitcoin users in this world even some developing countries have also received bitcoin.

[yj300316]

If your government ban bitcoin, then all peoples in your county will not be allowed to do any kind of bitcoin transactions.
And this is not the end of bitcoin. You just need to use it without their knowledge. Because bitcoin is decentralized, there is no way to ban bitcoin 100%.
You still able to download the wallet and use it.

[asus09]

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 what you discussed has happened in some countries, look what happened in 2017 in china. china prohibits bitcoin mining and bitcoin trading. all their access block
and some countries follow Chinese state policy, but it certainly has a big effect on bitcoin turnover. but again we can see the bitcoin is able to go back and grow

[android17]

There is no doubt that bitcoin is banned by the government because government will never accept bitcoin.

Thats the biggest fear of all bitcoin users and investors because some coutries already banned btc and its possible to ban it in all countries in the world, if this gonna happen bitcoin will die, life of bitcoin is only depending on the people investing on it, we run bitcoin, it will be the end for btc if government ban bitcoins.

[Noilee]

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.

That's true even there are countries are banned bitcoin, there are country will still support bitcoin. Maybe their reason is that they could not get some taxes, or else they dont really know or understand the benefits of bitcoin, so the government bans bitcoin.

[Alex_Kidd]

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 doesn't really need any website to work, nor do the wallets so no, they can't stop it unless they turn off the whole internet system, and I find it quite unlikely...

[Ishiro5]

Then the government should be able to fight a people without borders. The fact is that except control on internet stiffens beyond what we have now in a coordinated move of governments around the world, any so-called ban on bitcoin can hardly be effective as to move an inch.

[ParveZ219]

Government already banned bitcoins in many countries as because all the crimes and the illegal works like drug peddlars and gun smugglers use bitcoin for their transaction as it is anonymous...and bitcoin is not in the hands of the government so the government wants to prevent its country people from using it.

[Jay51]

I think many who work at bitcoin and invest will be disappointed and many investor will be lost their funds.

[Dudeperfect]

Bitcoin as a technology is very strong and hence government cannot manipulate it directly so they try to eliminate the usage of cryptocurrencies indirectly by pressurising the users, domestic exchanges and other companies who are willing to use it. In a worst-case scenario, the government can ban crypto to fiat and vice versa transactions so in such case we will still be able to transact cryptocurrencies for the goods and services. However, such a decision would create more trouble for the government so the government of any large economy would not take such a decision.

[bananaohnana]

think there is no possibility that administrations would boycott bitcoins. Most nations including USA, picks up a great deal of charges from bitcoin benefits. For what reason would they stop such a procuring? other than I feel that most store organizations and contributing organizations contribute and exchange digital forms of money, they would not acknowledge such a boycott. All they like is fud and fomo

[bitzizzix]

I do not want to think like that because if the government forbids it, what about my fate and others with those who use bitcoin.
because bitcoin has become my income and made my life better than before, but I am grateful because in my country I can still use bitcoin is only prohibited if bitcoin is used incorrectly or misused.

[wonderfulvn]

This may happen in the next several years because they want to protect their country from crime and corruption

[tobreak007]

It is foreseeable future because the government always want to kill bitcoin and they don't want it become global currency

[euronine897]

Many countries will Ban Bitcoin but by all governments will not happen due to the potential of Bitcoin as a trading asset because already many organizations and investors even banks has already invested in Bitcoin and that amount is huge so we might see few restrictions for Bitcoin from some governments but many will not ban

[Danilotot]

if that day will come. I think we were ready for that, and we're trained in hiding in the goverment, initially running the crypto without knowing the goverment and the bitcoin. so if they ban the bitcoin. there will be a lot of appeal and market failure. so there will be a market lows even more difficult for the goverment of the country to ban it.

[JoshyKulotski]

As a government in a particular country bans BTC people will find ways to trade it though. It is a bunch of thousand of dollars so if you will ban it in a country people will probably trade it in other country or into black market. It is money bro, we don't waste it in a snap specially a thousand dollars.

[cryptojaani]

think there is no possibility that administrations would boycott bitcoins. Most nations including USA, picks up a great deal of charges from bitcoin benefits. For what reason would they stop such a procuring? other than I feel that most store organizations and contributing organizations contribute and exchange digital forms of money, they would not acknowledge such a boycott. All they like is fud and fomo

Some people are fear government regulation could ruin it, but they should not be concerned about  . Any attempt control bitcoin simply won’t work. Beyond the difficulties presented by the decentralization of bitcoin itself, governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex.

[Kusnechik]

The G20 meeting on the interaction of states with crypto-currencies is scheduled for October 2018. A final decision will be made there.