What if Government bans Bitcoins?

[bluemoon84]

Most countries including USA, gains a lot of taxes from bitcoin profits. Why would they stop such an earning? besides I think that most fund companies and investing companies invest and trade cryptocurrencies.But if it happening then you don't need to worry.
In future there will be some exchanges that will have total security of your accounts. Now if Govt ban it, it will become a elite commodity which only rich or tech freaks will hold. In that context it can be precious and can only be used for money laundering, wealth hiding etc.

[madcamaro]

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.

[boboyboi]

If this will happen in reality then we can't do nothing about it,its the decision they made but this speculation is far from the reality that this will realy happen,the ultimate mission of government is to see to it that the citizens of its state can have a better economic status in which bitcoin can provide it if people will embrace its purpose and as what we can see nowadays,people started already in embracing bitcoin so,government cannot ban it and there is no reason in banning it.

[stefy77]

Now it's too late to try to stop bitcoins, there are too many interests, and the lobbies are already there.

[Jolyp]

There are different governments and each of them has their own will or power on any decision that they will make. Bitcoin has already been banned in some countries and that is because of their existing government that treats bitcoin as a threat to them.my country is not banned bitcoin because they know how importent is bitcoin.

[Fbi_babs]

We all know that bitcoin poses as a threat to government and banks and it is very likely they make regulations that will oppose the use of bitcoin but let's be hopeful it doesn't get to that

[JavaScriptlk]

If government only try their best to ban bitcoin, it only make  it become stronger and more develop

[JSRAW]

It is very unlikely that countries completely ban the Bitcoin. they can restrict the citizens by imposing law etc but ban? I doubt it.

Having said that, it can happen too ( When 1 bitcoin = $$$ significant amount ) because countries/governments don't have visible stakes in Bitcoin in general. and we all can agree on the thing that no matter what happens governments really don't like to lose their power in Money. their own existence moves around controlling the money.

[Jorge158]

It is highly impossible for bitcoin to be banned. The good news is we have some powerful countries like Germany accepting bitcoin and I believe that many other countries will follow suit.

[pendong101]

Some already banned it and some already approved it, but banning it won't stop you from trading or gaining more you'll just get limited options about it like buying merchant or trading it in local currency

[Pettuh4]

It is highly impossible for bitcoin to be banned. The good news is we have some powerful countries like Germany accepting bitcoin and I believe that many other countries will follow suit.

They just don't have the technology or capability to do that yet else they'd have implement it a long time ago. A  decentralized cryptocurrency like bitcoin is a hard nut to crack since the network is hosted everywhere they cannot just target one server or computer and succeed in taking it down.

[rajkr]

Few countries has already banned the crypto currency but main benefit is that it is global currency so i can use it outside my country. Like Thiland has legalized crypto so we can withdraw our money there or we can spend in terms of crypto currency there.

[DauntlessGuy]

Some people panic about Bitcoin in future, they should not because I feel that the banned countries will soon be legalised once they create the bitcoin infrastructure. It’s too late for governments to shut down the bitcoin.
They can’t ban something they can’t control. It’s too big to be banned, really.

[trantu8461520@gmail.com]

ajority of the users who were into bitcoin are self learning. They learn from mistakes as well try to explore more in the cryptocurrency network. Already there were countries around the world where bitcoin is banned. But people who were craze about it find different way to make use of it. So, ban on bitcoin will affect the market growth to some extent

[Voidcrafter]

Bitcoin can not be completely banned. Let in one state, the laws that prevent the development of bitcoin, then in the other necessarily very favorable conditions. If you have money, then you can as a tourist go to another country and solve your issues with bitcoin

[tenebriscaelum]

If government will ban the bitcoins no one will be financially freedom and no one will earn big profit from just posting a reply in this forum. You have to work hard so you will earn big in your work. But in order to earn big you have to work for a long period of time, but if you do not work for a long period of time you will not earn big. Also many people will be poor because of the debts that they have if they did not experience the crypto world. Some people become rich in the crypto. But if you did not experience and know the crypto you will be poor or you will just have many debts.

[barsharkol12]

unfortunately bitcoin will not be ban here in our country. if that happens i think many investors and especially the market in the crypto currency wil have big loss. and also i heard that in some countries btc is banned because of they use it in an illegal way and other things that can harm their country.

[icreative998]

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??

in my country The government has not banned bitcoins, but if that happens it's bad. Because I think bitcoin or cryptocurrency has great potential to boost the economy

[delarossa]

I think if the government banned bitcoin it means bitcoin prices will certainly decrease due to reduced activity involving bitcoin. It may also be that investors will find it hard to invest in bitcoins because access to bitcoin management is hindered by government regulations.

[DewiKirana]

If the government bans bitcoin it will definitely have an impact on bitcoin prices, and if the government blocks all bitcoin trading sites this will be very detrimental to investors and traders. But until now the government is still difficult to block the existing bitcoin circulation.