What if Government bans Bitcoins?

[poldanmig]

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??

for the problem of prohibiting or not we all cannot know for sure what matters most take advantage of the opportunities that exist, and the government can do anything even block the site, if that happens of course we cannot do anything to defend our coins

[xysheeh03]

Don't be too serious about bitcoin that is being banned in the future, hence we should be more confident enough and give it importance, so that the government thinks that there are no illegal activity on it on don't have to banned it for any purpose. For some instance bitcoin helps unemployed youth to earn on it, such a great thing that government has not to worry about.

[Kotone]

Don't be too serious about bitcoin that is being banned in the future, hence we should be more confident enough and give it importance, so that the government thinks that there are no illegal activity on it on don't have to banned it for any purpose. For some instance bitcoin helps unemployed youth to earn on it, such a great thing that government has not to worry about.

it will become a big problem if the government ban the bitcoin. we know how it will affect when one country bans the bitcoin. the price are very fast to change because another country disallowed the bitcoin. the bitcoin would become limited in flow to the other country. and if that happens, that all country and government banned the bitcoin. I think it would be the end for bitcoin.

[yazher]

Some are banning it and some other are not, because the one that are banning it find that it will make their economy complicated. but most of the country find it useful to their economy because in Germany bitcoin now is known as one of the currency of their Country. in other word they might banned it but some other people find it useful so they remain using it for their own good.

[Kinslayer292]

I think, the technology a blockchain can't be forbidden. It is possible to manipulate the cryptocurrency price. But it isn't possible to forbid a mining.

[Julasic]

well, I'm sure the price will decrease. it happens when china bans bitcoin. well, although the price is not so falling, but I think if other big countries banned bitcoin like japan, of course it will make the price fall, and less trust.

[Allura74]

Some are banning it and some other are not, because the one that are banning it find that it will make their economy complicated. but most of the country find it useful to their economy because in Germany bitcoin now is known as one of the currency of their Country. in other word they might banned it but some other people find it useful so they remain using it for their own good.

There are many attempt by some government to de stabilize and ban bitcoin but still they find it hard to do as blockchain system is a p2p system and transaction is all mainly done between you and the node of the blockchain so I think blockchain is unstoppable government may shutdown the whole world's internet first prior destroying bitcoin. What they can do is to do market manipulation and give the world a bad news about bitcoin but in effect people still find the goodness of bitcoin, so bitcoin will continue to reign even in the future.

[Dadaro]

Even if the governmet bans bitcoin, it will still used as a payment in black market. just like how they usually use bitcoin then. And people can just simply use vpn.

[Addywealth]

Though it might be difficult for any government to totally ban bitcoin and other relating sites to cryptocurrencies because is a decentralized blockchain, nevertheless, it would be a great loss for investors and might bring economic hardship to some individual.

[Minerall]

If the governments start banning Bitcoin, then the price of Bitcoin will drop drastically. People will be forced into selling their Bitcoin as they will not be able to withdraw the money. But i don't think that any government will ban Bitcoin as the power of Bitcoin is unimagineable.

[chenczane]

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??

A government may ban using bitcoin and any other crypto currency but they cannot stop it. Many countries are now banning bitcoin but I cannot see what is the negative effect in their country? Although there's so many reasons they follow but I am not quietly approve on it. First of all, bitcoin can help a person to improve their financial status and that is for sure. By that, people will not depend on the government. Are they just banning it because they cannot get taxes from it? For me, it is a selfish move.

[nangiarushali]

Government of any country has the power over its citizens only. If the Government bans BITCOIN in its country , still one can use it as Government can not control one's online activity. So you can earn BITCOIN and store them in your wallet .And later or convert them into your national currency before transferring to your bank.

[Ike.daniel]

Saying the government will ban bitcoin is like saying that they are going to shut down the internet. From the look of things, this is definitely impossible.

[Soots]

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??

A government may ban using bitcoin and any other crypto currency but they cannot stop it. Many countries are now banning bitcoin but I cannot see what is the negative effect in their country? Although there's so many reasons they follow but I am not quietly approve on it. First of all, bitcoin can help a person to improve their financial status and that is for sure. By that, people will not depend on the government. Are they just banning it because they cannot get taxes from it? For me, it is a selfish move.

They can ban bitcoin, but it cannot be banned in the internet because of its decentralized system. Although it cannot be directly be feed to fiat system exchange, the idea of money transfers from another country with crypto exchange that doesn't prohibit bitcoin can be done successfully. So no barriers to prevent people to have freedom with bitcoin, and the only problem with that if government will strongly enforce that law was the convenient transactions we experienced may differ from previous which wasn't yet banned.

[Nelly.G0211]

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 think, in some countries, it's just a matter of time. I hope, we still have enough time to figure things out. I know, that in my country the main bank is going to scan and monitor the transactions in order to find some suspicious activities.

[Suguha]

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??

If government will ban the bitcoin in our country then there will no digital currency that can help us to earn extra money, bitcoin is a great help to the users and to those ysers who do not have regular job, the eallet that the users holding will be gone because if the government banned it there will be a lot of works they will make just to stop and ban bitcoin, I don't know where will be go the money that the uers have if their ban it.

[Vickyrichy]

This new era is full of possibilities and surprises. IF it gets to the situation where all governments ban bitcoin and cryptocurrencies, people in the crypto world will still find a way to use cryptocurrency. But i don't think governments can ban bitcoin from being used completely. As days go by the crypto world grows bigger and stronger. Lets all make it a point to support and back cryptocurrencies....

[amobi]

Government banning bitcoin, i dnt think this will ever be possible considering its decentralised nature, but some things i still wonder why Governments should be against bitcoin since it has helped a lot of people, it should be used as a means of creating opportunities.

[unorowest]

The government all over the world cannot ban bitcoin, but even if that happens, some persons would still find a way to use bitcoin.

[seoincorporation]

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 is not just a theory, is already happening on China. Let me share the source with you: https://bitcoinist.com/china-escalates-cryptocurrency-ban-will-block-124-offshore-exchanges/

Is like all the illegal stuff, while the police doesn't know you have it, then you are safe. It remember me when Canadian Gov. ban Just-Dice, at end the owner from that site send the cash back to all the investors and users before the gov take it. But it can happen, Govs have the power to shut down a site and take all the money like they already do with Silk road.