What if Government bans Bitcoins?

[Prayservice Thomas]

A ban would be just a law from some random criminal government which can not be executed. Laws that can not be executed are more or less meaningless.

[Ikpirijor7]

I think there is no way that legislatures would boycott bitcoins. Most nations including USA, picks up a great deal of duties from bitcoin benefits. For what reason would they stop such a winning? other than I surmise that most store organizations and contributing organizations contribute and exchange cryptographic forms of money, they would not acknowledge such a boycott.

[PonyBoy]

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 cannot imagine that my country will ban cryptocurrency and how it would look like... To be honest I am afraid to think about that, because with time I had earned something here, I dont want to lose that.

[Umkar]

The government has the ability to ban Bitcoin, but now other countries have no plans to ban it except China. I don't think other countries will ban it in the future, but it's possible to let Bitcoin exist on a wider scale with an asset tax.

We can not say what will happen in the future with bitcoin. Many states are already unfriendly toward bitcoin, because they consider it a financial bubble. At the same time, they are tolerant to other types of crypto currency. Therefore, I do not rule out its prohibition even in some states. It is unlikely that such a ban will be universal. However, if this happens, then I think that it will fall dramatically in price, although people will find a way to continue using it.

[P60]

I would not want to say it can be possibly but at the same time governments lack the authority and power to act against a decentralized currency like Bitcoin.

I also think that it is impossible, government cannot just ban bitcoin; but if ever they will ban it, I think many people are going to be anxious and hopeless since bitcoin is a source of income now.

[estupido]

I think to prohibit it the government must review it because in this bitcoin there are many investors and people who depend their lives

[Birin016]

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.

[Glad108]

I still believe that it may be difficult for governments to completely ban Bitcoin. Most of them also have Bitcoin. The best they can do will be to limit its use in certain services.

[kingkonjac]

such a scenario would not be real I believe because even if they block the sites in a country than you can change the ip and access your wallets or whatever from a different place and start using them again. The only thing is that the ban would decrease the usage of it.

[swaggerkeme]

The value of bitcoin will drop if this amazing digital currency is banned in most countries around the world by government. Just as it is happening currently, anytime we hear any bad news like ban, the price drops. I think decisions by governments can adversely affect the value of bitcoin.

[adjudicator]

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 are several countries thst already ban the bitcoin at their country, at first it has a big impact to the price of bitcoin but as the time goes by, thr price of bitcoin back to its normal price or maybe it is start to increase slowly.

[salalaman]

Looking at the worldly surrounding now, it is not possible that all the government will ban cryptocurrency in their various countries. Though some countries and governments have banned it, i see it to be temporary one and in no time they will realize its usefulness and even legalize it in their country. Banning crypto will not see the light of the day. Crypto is the future currency.

[euggio]

I think that it is not advantageous for the government to block bitcoins and crypto-currencies, because it can bring huge money to the countries' budget with the right actions. I am sure that in future all states will become part of the world

[patrickj]

I think the government won't have the capacity to ban bitcoin. Since on the planet officially numerous bitcoin clients have likewise been upheld by individuals in this world. Notwithstanding creating nations have officially gotten bitcoin. So in the event that I figure the administration won't have the capacity to ban bitcoin and dispose of it.

[Elerntta]

I hope that this will not happen to all countries of the world, although there is certainly a small fear of this. But I hope that the government will be prudent and will not ban cryptocurrencies.

[Layers318]

Governments cannot completely ban Bitcoin unless they intend to cease the internet from working any longer. Just as we have some governments against Bitcoin, there is an equal number of governments in favour of it. Bitcoin will forever continue to exist and serve its purpose.

[olegblinov86]

I think that some particularly conservative countries will ban bitcoin, but most countries in the world will not prevent the development of this technology.

[bagaiskwpps212]

I think the number of coins in your wallet still exists but the difficulty in trading because the government has banned. Depending on the number of countries where the ban is different.

[Abeey4life]

I think Bitcoin should not be ban by any country, it is revolutionary medium of exchange, in few years to come now, it will be used as medium of exchange in local market.

[bitterdog]

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??

Right now, some country already banned bitcoin. The government will not take a risk for their people, they still closing their door to bitcoin. In some country blocking sites that related to bitcoin can be happen too although i never heard about it till now. But, we can not ignore the possibility that might be come, im pretty sure that one day, bitcoin will be accepted globally.