What if Government bans Bitcoins?

[Strange9]

It already happened in other countries but the demand is really high that the Chinese would even migrate their business to other countries to continue.A common reason why Bitcoin was banned in some few countries out there because they had a lot of misunderstandings about its technology. Government can't stop people's passion in bitcoin so the majority will change that decision in the long run if they have banned it.

[Bitlife81]

If the government banned the bitcoin,  then it will be hard for the earners to earn a bigtime money because bitcoin is one of the highest rate currency in the world.

[saumang2m]

There are some countries in today's time. Those who have already ban Bitcoin in their own country. That government is against Bitcoin and the crypto currency. Despite all this, the number of people using Bitcoin is increasing every day. That's why we need no more to think about it.

[luffyzxc]

I think if goverment ban bitcoin to our society, ofcourse theres so many people hate to our goverment, because bitcoin there so many a lot of people save and helped because of bitcoin, and if ban bitcoin theres so many people hard to earn money.

[tadung8790]

I think a new type of money online will release

[zubrr51]

If Government bans Bitcoins, then it will continue to exist outside the legal field, as it was before.

[jundy020]

Government ban cryptocurrency to their country because it affects too much of their currency and banking systems makiing their economy decrease but if they properly use the cryptocurrency on their banks the country will benefit a lot from this business and banning bitcoin will never happen, it just happens that government did not think about the benefits but the negative outcomes which rarely happen.

[Ozero]

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 the future, everything can be. Decentralized crypto currency is really very inconvenient for any state. It may happen that in many countries in the future they will decide to ban either individual or all types of crypto currency. As we can now observe on the situation in China, such a ban can be quite effective. It is very unlikely that the ban on decentralized crypto currency will be universal, but in some countries it is quite possible.

[kakade]

Some countries prohibit the Bitcoin they fear if there is money laundering. And my country still Bitcoin can be accessed. Even many people become rich because of the Bitcoin. And I think the country will not be banned because of the Bitcoin can reduce unemployment figures. And can change the economy became very good.

[petermike]

If the government bans Bitcoin i think the first thing the crypto market will have a effect and the initial Bitcoin price will be low. But it is only a factor price of Bitcoin will have influence on the world.  But Bitcoin prices will rise sharply as it is the new age of the world. Besides that we also know most of the BTC in most countries so there will be no grounds to banning Bitcoin.Therefore we can rest assured.

[musharaf]

Bitcoin is decentralized currency but if we look at the world so many countries are bitcoin friendly and they support bitcoin for many reasons and some of the countries not allowing bitcoin usage in their countries because of some threats of crypto into their economy and mostly the advanced countries are in the favor of bitcoin and crypto while now many countries have their own exchanges and separate ICO which leads to the crypto world.

[cc80aa]

In the matter of fact, some countries are allow to use bitcoin transanction but some countries are also ban despite on these situation no government sector can control bitcoin transanction.

[Sevarchik]

If your government dont support this technology dont leave cryptos, because is temporary.
Use can continue use btc but not on exchanges where need kyc to trade.

[Ava Duvall]

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

I agree there is no point. aside from the black market , there is no factor to ban crypto currencies. yes the government cant control them but also, if they do ban, people will still find a way to trade and mine

[Dr.Osh]

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

I agree there is no point. aside from the black market , there is no factor to ban crypto currencies. yes the government cant control them but also, if they do ban, people will still find a way to trade and mine

you're right, but this is just a parable. well, and the most pronounced effect if a country bans bitcoin is, the price reduction. but it depends on which country banned bitcoin. Well, but I hope, bitcoin is accepted in all countries in the world.

[Ezenwanyi]

It was recorded that countries like the USA received tax from bitcoin.
I know its the wish of many countries to ban bitcoin, but i do not think that USA would support that.
Come to think of that, bitcoin is a decentralized virtual currency, s it will be almost impossible for any government to succeed in banning it.

[Laura45Banks]

It still exists in the cryptocurrency space but you can not own it. You may have lost your coin. It is a pity that it happened.

[Nnedaddy1]

I do not think , government banning bitcoin is a possibility ...this is considering the fact that bitcoin is a decentralized virtual currency .
It is on its own and devoid of third party interference.
So it is almost impossible for government to ban it.

[Yadamosan]

It's not a surprise because government want's a thing that they can control and bitcoin is not included on the thing they can control; when that thing really happens it will be expected because government only going on a corruption and corruption is a thing that enriched their moneys and on our time or era, Government officials wants only the taxes and as bitcoin is a online transaction doesn't have a taxes to pay so they will mention the bitcoin expect that and as time goes by when bitcoin pump again expect the thing because some countries already banned bitcoin;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.

[Zalaster]

It's impossible. Bitcoin is decentralized to prohibit it, the efforts of all countries of the world will be needed, but even in this case it is technically impossible. So I think that you do not need to worry, everything will be fine.