What if Government bans Bitcoins?

[jpnl0004]

I dont think its possible for the government to ban bitcoin its very much impossible but if it does happen sooner or later they would understand the damage they will cause.They really need someone to educate their minds about bitcoin thats what they need

[kumarrajuiitd]

I think it is not easy the reason some countries have made the national currency to the state and recognized the world,
like japan but there is a lot of bad information about bitcoin from the past and until now there is no real proof that bitcoin is illegal and also endangers state finances and it is important to help improve human resources if bitcoin persists, as it is very helpful to me in economy. , I hope bitcoin keeps going up and going around the world

After ban the crypto market will go down rapidly undoubted. But the main point is it feasible as some countries has started startups and also filed the patents. So many products and exchanges have been approved by them also, so ban seems to be unrealistic at this point.

[jovs]

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.

It will just limit the usage of bitcoin on a specific area or place just like how your government did. But bitcoin is a global currency in the form of crypto where people could still manage to used it in transaction through the web and make an investment with the used of an online base wallet and deal with transactions on the blockchain system of crpytocurrencies.

[Offece]

There are one of a kind governments and each of them has their very own will or energy on any decision that they may make. Bitcoin has already been banned in some countries and that is because of their present authorities that treats bitcoin as a threat to them.my u . s . isn't always banned bitcoin due to the fact they recognise how importent is bitcoin.

[nehemiah31]

I think the government would not ban bitcoin because it has its own rules.In fact bitcoin play a major role in the progress of a country's economic status.

[coinpool_de]

Oh, i see the similar title everywhere. Everyone keep asking the same question. I don’t believe governments will totally ban crypto, they just try to create some regulations to control it. But hey, it’s decentralized, and people always find a way to get involved in cryptocurrency. Just relax.

[daoquanghuan]

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??

It is difficult to completely prohibit bitcoin. Bilcoin is a decentralized network around the world. There are countries that forbid bitcoins but there are also very friendly and welcome countries bitcoin. Lots of evidence indicates that bitcoin is not used for bad purposes so there will be one day everyone will accept bitcoin

[kenzruiz]

I think there is no chance that governments would ban bitcoins. 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, they would not accept such a ban. All they like is fud and fomo

In my opinion, it's imposible that goverment would ban bitcoins. Bitcoin is so powerful, in these days all of us now use online transcation for conviniently purpose. Bitcoin centralized the online transaction all over the world.

[michellebson2]

The Korean tax authorities are constantly present at the digital money exchange floor makes people invest in standing, not sit still.
I'm worried. My money will be thrown into the trash if the government closes the trading floor.

[bbnt81]

I dont think we will ever give up on bitcoin. If that really happens, we will still find a way to trade either through some sorts of dark web or private network to trade still.
The thing is it will be harder and the price of bitcoin will go down really badly when that happens.

[lunafreya nox]

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??

Well, people will really get disappointed especially for those people who earn money here in bitcoin. And I think no one can stop it as there isn't any centralized server of bitcoin so it is impossible for the government to stop bitcoin.

[kendra1107]

Then Bitcoin will become illegal. Simple as that! If you are a citizen of a country that banned Bitcoin, it's either you stop using Bitcoin or find some other ways to make Bitcoin transactions without getting caught. Now this will make things even more complicated and riskier. So we should always have a plan B.

[CharlesCorley]

It will never become a big problem because government can ban bitcoin and also can declared it illegal but no one can stop Internet so, don't worry about it.

[Kentkent]

Within the past many nations have prohibited bitcoin. Due to the Bitcoin online foreign money, many governments are involved approximately this foreign money. So they're no longer using bitcoin. Bitcoin might be banned if people will lose the splendid opportunity to stand up.And this could have an impact at the that means of cash.

[xuzukami]

It is hard to imagine what the Bitcoin Market would be like if all governments had issued a ban on Bitcoin trading. Market may increase from there or vice versa. But in my opinion the Bitcoin market can be volatile but BTC will not be able to lose because of its large market capitalization and many transactions are accepted in BTC. That's just if.

[ennave123]

Banning bitcoin is an unwise move because in any way, the government still gets profit from bitcoin or even altcoins. I'm talking about the ways of transfers, these instruments in transferring our funds from bitcoin or to bitcoin pays their taxes which is base on their revenue.

[efxtrader]

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??

Government can not ban bitcoin because bitcoin is decentralized. What government can do is ban bitcoin if used for payment in their country or trade with bitcoin. Government ban dont give effect to our wallet because its on internet, except government shutdown internet on their country. Right now, government can not ban internet site because many ways to unlock

[Emmaallen87]

If the government bans Bitcoin I am concerned that the cryptocurrency issues will fluctuate, investors will face many obstacles. Of course, the economic market will stand still, the country will be very slow in development.

[sdipmlrp]

I don't think even if most governments now ban the Internet, it's going to be a good way to ban the encrypted world. It is a social consensus for the future of decentralization, and I think more government departments will adopt Bitcoin in the future.

[tranquyen123456]

They can not block Bitcoin. Their job is to restrict the promotion of Bitcoin too much when the law is not managed to handle it. Bitcoin will still grow, investor confidence for it is still huge