What if Government bans Bitcoins?

[rickyrich45]

major investments are made in block-chain technologies around the world. academics and universities are working hard on this issue. crypto money attracts people's attention to the block chain. I do not think they will block.

[HerbalCommunication035]

Government can put a ban on bitcoin and declared it illegal but government cant stop the user to using bitcoin and crypro currency because it is a blockchain based system and internet can not be regulated.

[melallgarant2015]

all ahead

[shadyrifles]

A few countries government has already banned the bitcoin but they can’t fully restrict the usage of it.

[Supremacy1]

It is possible.  But most countries will still support it , while some of the ban countries can still find ways to manoveur it

[Bohxz M4p4gm4h4l25]

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??

Everything will be possible in our time such as that thing as banning Bitcoin but that will take a judicial process because government cannot just ban Bitcoin without any provable evidences and tough reasoning why they will do such thing because the case is whar if you have already a big amount of money on your virtual wallet and they have just banned Bitcoin without any notice, then they have just put all the decisions on their hands without concerning its people's right that will surely result into a chaos.

[StImelda]

it will not be the end of bitcoin, bitcoin is designed to be censorship resistant, it did very well in the past with or without government interference.

[westril688]

If government of a country ban crypto, another country will be trading crypto, all country government can not ban at the same time. Bitcoin will continue to exit, when China ban, Indian legalize it. Such is how it will always be

As long as there are countries that legalize bitcoin as a payment instrument or can be traded, it means that bitcoin will always be there. But if countries around the world ban bitcoin, maybe bitcoin will die and become a story that bitcoin is a common enemy of countries in the world. Because bitcoin cannot be controlled or intervened by anyone, it is also a problem for a country's financial authority to stabilize the financial system so that it does not fluctuate and stabilize.

[iTzMeZaN]

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 if geverment can ban bitcoin theve already done co'z they nothing gets taxes or nothing so they done but they cant bitcoin continue spreading the world

[kehed90]

In my opinion, anything can happen. Because the government has the authority to ban bitcoin, the government does not want to replace the existing currency with bitcoin or maybe they are afraid that bitcoin transactions are out of control and misused for criminal purposes.

[Anita1873]

If all the governments ban bitcoin together (which is not seems possible in any way at all), then it will be very panic and horrible for all those people who invest in crypto or trade, because when the world Bitcoin will be banned, then the price of almost every alternate cryptocurrencies will definitely fall down upto unimaginable and unexpected levels.

[Sumo]

To do this, all countries of the world need to go to one opinion about the ban of bitcoin. But I am sure that this will not happen, because there are countries that have adopted this technology.

[fattyforhire]

I truly believe that this will never happen. And now it is not so easy to ban bitcoin, when it has developed to such a huge scale.

[Mabinat]

forbid what? was it allowed before? Did this prevent people from buying it?

[Seundavid]

I don't think this could be possible because most of the 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.

[newdevices]

I don't think that all countries ban cryptocurrency, I think the government cannot block all sites related to bitcoin wallets or other things related to cryptocurrency, keep thinking positive, bitcoin will be accepted in all countries in the future

[sino22]

over time the government will accept and legalize bitcoin, this only takes time. because now the development of crypto is increasing rapidly

[kerremy]

Bitcoin users will always be able to transfer bitcoins from their wallets where they control the private key, In case of a ban, you can control your bitcoin.

Bitcoin users can move their Bitcoin to exchange wallets in other countries because Bitcoin is legal in most countries.

[Bara420]

If government ban it then it will be called illegal currency thats it but nothing more can be happen because they can't stop the users to use it.

[beniesyde]

This would be a loss, because the capital from this country would be withdrawn. if the government did this, but if this happened, it would be the destruction of the bitcoi coin with the number of coins or bitcoins, and lead to a reduction in the price of a coin without braking