What if Government bans Bitcoins?

[Joriecoinbit]

If Government decide to prohibit the acceptance of bitcoins or websites promoting the use, sale or transfer of bitcoins, this has a serious way of affecting the way bitcoin could grow, develop and advance. It requires collective efforts of many of all governments to stop it however.

I don't think they can't even do that. There's a lot of things they need to do before they can totally ban all bitcoin websites and etc. I've read a thread here of some people who still continue to earn bitcoin even if bitcoin is ban in there country and I don't know how they do that.

[C0ld_Zero]

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 would show that the current banking system is so frail and fragile it's likely to collapse, and the government so corrupt it should not be considered valid.

[bayu7adi]

there must be a gap for everyone to keep trading using Bitcoin
Internet marketers today are more creative than traditional internet marketers
in fact, if BTC is prohibited, then it will only be an opportunity to make money for some people

[EoNs_COIN]

if this happens in a country you live in you could try using a vpn

[RichardScott91]

Maybe some countries are already banned bitcoin but I hope in our country they will not ban 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.

[Leyss]

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 else can be. The Crypto currency is developing and we can not yet say in which direction its development will go and how it will be viewed from the point of view of the states. So far, decentralized crypto currency has caused conflicting opinions and therefore states treat it differently, including differently classifying the currency in the process of legalization.
If approximately half of the states decide to ban crypto currency, then it will exist. However, if practically all or all of the states make such a decision, then it will have to be very difficult, apparently, first it will practically depreciate, more than 90 percent of its species will disappear, but people will still use it in very small amounts, not officially. It is difficult to say what it will lead to yet.

[btsjimin]

If bitcoin was banned then it will be a huge issue because a lot of people are doing their best in bitcoin and they are all collecting bitcoin and keeping it on a safe place for an expected return which can make them a rich person in the future. Bitcoin is a really great currency but even a simple banning decision from a country for example in China, then it will affect the whole market again just what happened in ICO banning.

[ci1990]

To be able to ban BTC completely I think the whole internet and computer system must collapse. It is impossible to ban such a tech. Yes governments may try to limit BTC activities but technology will always win over government bans.

[zhelis74]

If bitcoin was banned then it will be a huge issue because a lot of people are doing their best in bitcoin and they are all collecting bitcoin and keeping it on a safe place for an expected return which can make them a rich person in the future. Bitcoin is a really great currency but even a simple banning decision from a country for example in China, then it will affect the whole market again just what happened in ICO banning.

I think there are many attempts from governments of banning bitcoin but its not an easy for them to destroy such a decentralized system because the system is between the user and the blockchain through internet maybe they should have to shutdown first all internet network in order them to succeed but not will never be happen since the world is running by internet, but I think there are government that are now slowly adapting to crypto currency.

[emekaemeka]

hello dudes, good morning all, bitcoin has been around the fringes of financial markets for less than a decade, but is slowly gaining prominence as an alternative asset class. I do not think the government of any major country will step in and do the unthinkable

[DoublerHunter]

If bitcoin was banned then it will be a huge issue because a lot of people are doing their best in bitcoin and they are all collecting bitcoin and keeping it on a safe place for an expected return which can make them a rich person in the future. Bitcoin is a really great currency but even a simple banning decision from a country for example in China, then it will affect the whole market again just what happened in ICO banning.

I think there are many attempts from governments of banning bitcoin but its not an easy for them to destroy such a decentralized system because the system is between the user and the blockchain through internet maybe they should have to shutdown first all internet network in order them to succeed but not will never be happen since the world is running by internet, but I think there are government that are now slowly adapting to crypto currency.

It is easy for them to destroy the cryptocurrencies because they have the control under their country and by making a law or order, it will easily ban the cryptocurrency and if all of the countries or governments will do the same then the decentralized system will become useless because everything is under control by the government and that is the truth.

[IndependentWild87]

It is very normal matter if government ban bitcoin because the government of many countries still banning bitcoin but it is not a big deal bit they can not stop us to use.

[Demanderoca]

First of all, bitcoin is not controlled by the government. It is impossible for it to be banned if there is a possibility because some of the countries gain some taxes from it and they benefit also from it.

[Zalaster]

In this case, they will depreciate, because there will be no possibility to make transactions, rather, to sell coins and buy them for fiat. But I do not think that this is possible, on the contrary today many countries consider bitcoin to be a currency, do not prohibit it, moreover, they want to use it on a par with the USD.

[Psalms23]

Well if goverment really bans bitcoin then it will be the end of cryptocurrencies. As you see even a small bad news for cryptocurrency makes the prices dropped how much more if it is really a great banning of bitcoin.

[adadaorlina]

This is going to affect everyone involved. I do think governments can only go about advising their citizens against it and even where it has been banned, people still do engage in it. If I am in this situation, I think I will immediately sell my coins before the actual implementation of the banning so that I will earn my money.

[Lexurdania]

First of all, bitcoin is not controlled by the government. It is impossible for it to be banned if there is a possibility because some of the countries gain some taxes from it and they benefit also from it.

If government decide to block all sites, many ways to break it. Government can not control bitcoin because bitcoin is decentralized and no one country can claim bitcoin data because transaction data spread all around the world. What government can do is regulate bitcoin and collect taxes from transaction

[Kakarot01]

Samsung started accepting Bitcoin in 3 countries. Entirely will happen. Despite the fact that legislature have no reason for restricting bitcoin and some other crypto, But in the event that it happening then you don't have to worry.In future there will be a few trades that will have add up to security of your accounts.Necessity is simply the mother of all creations.So Keep quiet and Keep exchanging.

[IndigoRed]

First of all, bitcoin is not controlled by the government. It is impossible for it to be banned if there is a possibility because some of the countries gain some taxes from it and they benefit also from it.

Correct. The government does not have the power to ban bitcoin. I think the only way to stop bitcoin is to kill the internet --which is impossible. I think the advantages of bitcoin still outweigh any skepticism going around though. Do you agree?

[flowers5]

The only way that the government could ban bitcoin is if we let them.  Simply ignoring them would be more than enough to make them go away but the world population just loves to be told what to do.