What if Government bans Bitcoins?

[Rooster101]

Some countries that are not ready for cryptocurrencies will ban bitcoin, others will try to control the movement of coins by imposing their own regulations. Japan and other countries welcome and legalized bitcoin instead of banning it. In my own country, bitcoin is not yet legal but the government did not banned it and they've been studying the cryptocurrency for possible legalization in the future. If government ban the use of bitcoin, people might instead try to buy or sell coins in the underground exchanges.

[erifubirugen]

No i would never think that the goverments bans bitcoin, not possible for me. The goverments workimg about the cryptocurrency taxes and they will collect taxes soon. So why would they ban it? That's doesn't make any sense. My advise is to never believe this things..

[reputationproceedsme]

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[Siakol]

Some countries that are not ready for cryptocurrencies will ban bitcoin, others will try to control the movement of coins by imposing their own regulations. Japan and other countries welcome and legalized bitcoin instead of banning it. In my own country, bitcoin is not yet legal but the government did not banned it and they've been studying the cryptocurrency for possible legalization in the future. If government ban the use of bitcoin, people might instead try to buy or sell coins in the underground exchanges.

It is happening now in some countries, some government has no vision in the crypto currency , they are scared to adopt the new kind of money which is good actually for the countries economy I think, they reject the possibilities in the future, They are regulating and stopping Bitcoin on spreading in order to protect their business and other stuffs.

[mcc-blockchain]

If one country bans BTC, just utilize it in another country. As long as there're still a proportion of people believe in BTC, BTC will stay. I think the existance of govt will weaken BTC's role as currency, but given its nature as a token, which can be equity, I'm still excited about how blockchain technology will develop.

[rancakadu]

Actually nothing will happen. Although the government has no reason to ban bitcoin and other crypto, but if that happens then you don't need to worry. In the future there will be some exchanges that will have total security from your account. Keep yourself calm & keep trading.

[anonph1106]

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??

The world of crypto will eventually stop and any business using cryptos especially in their marketing strategies would be experienced a great loss. However, it would be difficult to shut down market without killing the internet.

[Fred3030]

Governments banning cryptocurrency will not happen, regulations can come in from government angle but a total ban I think is not possible as block chain technology is phenomenal and a lot can be achieved through blockchain technology.

[beryziq]

Users will always be able to transfer the bitcoins from their wallet now or in the future to a wallet in which they control the private keys, In the case of a ban, you can control your bitcoins.

[tranle1267]

i think in future they will accept bitcoin and alt coin. now some nation has aldready banned bitcoin because they can not control it and don't realize the big benifit of them.

[cutecute]

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 do not know what to do if government ban bitcoin because this is the only way I know to earn money. They said that government will accept only bitcoin if they put a tax on it.

[MalcolmBee]

t will be exceptionally troublesome for governments to level out boycott bitcoin completely, yet for contention, in the event that they some way or another do, and you have your key data regardless of whether you remember it, you could go to a nation where it isn't prohibited and utilize it there anyway you please.

[RiotCats]

it wont be successful even if they try.  the best response to bitcoin is not to ban it, but to embrace the technology and try and work with it.

[Emmax]

There is no regulation on the use of bitcoins. Implicit ban. The Superintendencia Financiera warned financial institutions in 2014 that they may not "protect, invest, broker, or manage virtual money operations". The Ecuadorian government has issued a ban on bitcoin and other digital currencies. So bitcoin can not be ban no Matter what they do. Nobody is in control of it. Those in still in doubt about bitcoin being banned can read more about Blockchain and digital currency in details. I believe after making diligent search you will be satisfy that it cant be ban. 

[Ekim22]

Yes we know that some country banned bitcoin.but if the other  country follow also to banned bitcoin many people will be affect,there are many people  earn money for bitcoin. bitcoin help them to have a better life  and better future even when they don't have work.

[Zre]

In fact, bitkoyn will not be banned. On the contrary, cryptoconversion will be accepted all over the world. It would have been impossible if the government had done this, but if it had happened, it would have been the destruction of the Bikka coin with the amount of coins or bitcoins lost in the block, and it was very bad. But at a very high price, governments will regulate, and the currencies of the crypt will no longer be decentralized.

[BitTeo]

Actually, from now on, i don’t believe that governments will keep trying to ban bitcoin. The world is changing and to be honest no one can stop this. I think they’ll figure out how to accept btc and crypto somehow. It’s just my opinion, we’ll see in time.

[ParveZ219]

Government is already banning bitcoins in many countries because all the type of illegal works like gun smuggling drug peddling all the transactions are done using cryptocurrencies only because those are anonymous now if the developer of Bitcoins can trace the transactions which are done for  illegal purposes then maybe the government can think of unbanning Bitcoins other cryptocurrencies.

[Impulseboy]

It depends on the country, I think, because countries that legalized bitcoin like the United States gain a lot from bitcoin. I do not see the reason for banning bitcoin if a country is earning off of it, right? Plus, even if they want to stop it, it is probably too late to do it now.

[Raiwenkai]

Maybe some countries are already banned bitcoin but I hope in our country they will not banned crypto because  for me, personally it helps me a lot it gives some extra money  to pay some of our bills.  Bitcoin is a big help for every one.