What if Government bans Bitcoins?

[Banulit]

I just read some article many countries banned bitcoin because their government wants to regulate it to legalize and have a tax but the bitcoin is blockchain and decentralized no one can own it.

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[sagittarius1]

Quite will happen. Despite the fact that administration have no reason for forbidding bitcoin and some other crypto, But in the event that it happening then you don't have to stress. In future there will be a few trades that will have add up to security of your records. since Necessity is the mother everything being equal. So Keep yourselves quiet and Keep exchanging.

[C0ld_Zero]

It will add on to its ubiquity and more individuals will begin to put resources into cryptocurrencies. it is difficult to boycott their utilization. in the long run governments will concoct a couple of tenets and directions on them

[transformt]

the government did not allow them, but we all use them very well, after all?

[delegend]

I think it's technologically impossible to totally place a ban on bitcoin with the status we are now.certain restrictions can be made to slow the network process but surely gradually things will be done.you can't completely block air enroute is channel.

[Veronika94]

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 hope this will never happen, this is how much money people lose if this happens.

[Janet Wright]

Actually, there were some governments baning Bitcoin in their countries. Besides , there are still many governments allowing to trade Bitcoin. Some investors will be lost a large number of money. The economy will lose a work which help human can make profits. Or maybe the price of Bitcoin all around the world will be fallen sharply.

[Patrick Carvalho]

If goverment bans Bitcoin, this government will lose a large of taxes. Moreover, some companies allow people to trade or pay by Bitcoin. I think they will not agree with this idea because it impacts on their interests. Therefore, to me, the governments should in favor of bitcoin, not banning it.

[Asusnumbaone]

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 bitcoin simehow in other countries will accept it because most of the numbers of investment for the future is come from bitcoin and by putting tax on bitcoin they will never ban it because taxes is the blood of the economic without it the economic will be gone

[pokang13]

I think this is impossible to happen.However, if in case the government will ban bitcoin then the people will go back to cash society where they will use their fiat money.

[onlygodknowsx]

We already happen that bitcoin is banned! So maybe in the future it will happen but that is a very sad moment when you know how to run bitcoin and earn that time will banned in your country , so from now i invest a good profit from it and when bitcoin is going down i will sell it quickly but before bitcoin banned in my country i will make sure that i'm going to be rich and worth to join in bitcoin industry

[NatalieVishneva]

In some countries bitcoin is still banned by government, but they cant do a shit , because people still use internet/vpn and bitcoin, so nothing really changes.

[pundit]

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??

One, two or three how many countries can block bitcoin, not all, also its not about blocking bitcoin, bitcoin is only one currency on blockchain technology, there are million of currencies developing and executing on the same platform, logically its not possible to ban bitcon all over the world, it can be banned by one, two or three counties but not by all.

[pavka]

To prohibit bitcoin is incredibly difficult, because it will have to completely cut off the country from the Internet. This is possible only in countries such as South Korea, but the fact that bitcoin will be banned throughout the world is likely fantastic.

[christofyler]

I don't think so.... Some countries already banned bitcoin but not all only few.... Bitcoin is a good assets it serves as job opportunity not only that it also makes use of blockchains to create new ideas. I don't think government can ban bitcoin it not possible. Even the government benefits from it through tax.

[cizatext]

I don't think the government have the capacity to ban bitcoin and the cryptocurrency in it entirety because since bitcoin is a decentralized currency which is not under the control of the government or any individual it will be impossible to ban it activities. And the only way bitcoin can be kill is by turning off the internet entirely which will be hard to do.

[Viranz]

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??

Many countries have been banned from bitcoin, but there are also those who accept it because every government has different regulations in that country. I am sure that in the future the government will accept bitcoin as a fiat currency because transactions are easy and safe, in the future they need it.

[Rozita]

I don't think the government have the capacity to ban bitcoin and the cryptocurrency in it entirety because since bitcoin is a decentralized currency which is not under the control of the government or any individual it will be impossible to ban it activities. And the only way bitcoin can be kill is by turning off the internet entirely which will be hard to do.

They cannot stop it. They can just ban it. It's same as selling drugs. It's illegal but no one can stop it.

[rosemary4u]

Bitcoin transactions will still go on so far the internet gets going. It does not matter what any government does, bitcoin will still strive.

[teejayrichard2]

government will not ban bitcoin but even if they do, well you count your losses and move forward. though so many government are skeptical about bitcoin, i believe soon bitcoin will be accepted and adopted fully for usage by all.