What if Government bans Bitcoins?

[tokenscoinsscams]

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??

Decentralized nature of bitcoin , in current equation , also means the absence of even the basic mandatory regulation. That is why you get this obscene level of pump and dump and snoofing.  In any other civilized trade, those are jailable offense.
Funny thing with crypto is irrespective of all the hype and mass adoption, only a fringe actually use it. As long as it remains in the fringe, the governments are not acutely bothered to regulate. As long as there are no regulations, pumps and dumps will dominate. This is a cycle.  One day the government will act  when a trillion dollar market wipeout happens, there is blood on the street.

[Kakarot01]

Bitcoin is ALREADY BANNED IN 6 countries.It would be such a terrible move to the crypto world should governments boycott Bitcoin. A great many people have grasped crypto and business are tolerating it as a type of pay, if its Banned a considerable measure will be influenced, its anyway relatively inconceivable as Governments overall work on various arrangements and some have just authorized it.

[thesmallgod]

unless the internet is shutdown its practically impossible to ban the bitcoin. the worst that can happen is what we are currently witnessing in some countries that have banned the crypto. different countries have different rules concerning both paper and digital currencies and i do not think all the countries have unified system that pave way for banning of crypto throughout the world. it might be a threat to some financial institutions but bitcoin cannot be totally wiped from the earth.

[Labajah]

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??

If that happened government banned bitcoin I think that's that's the end of the popularity of bitcoin. But it is impossible that government banned bitcoin because their are to many country's accept bitcoin as legal tender.

[Leonora2]

If the government bans Bitcoin, I think e-commerce will be interrupted. That makes traders feel nervous.

[iSparta]

Prohibition of bitcoin is an action roughly corresponding to the prohibition of Internet. Currently, this is almost impossible because of the significant development of communication networks. You can only slightly complicate the use of bitcoin, but it is impossible to completely prohibit it by any government.

[billionaireSHS]

Well definitely if the government ban bitcoin in a particular country it will not allow all bitcoiners to use it. But if you really loved bitcoin, you may find some ways to use it or to make a move with it. I believe that they cannot trace you if you used it secretly 

[warkop121]

People use crypto currencies despite the fact that many governments don't like bitcoin and crypto. Although there are several countries on the other side; who has given legal status to this currency.
Crypto's currency is the future of fiat, and that is why the governments of several countries have not been able to accept the existence of bitcoin as a means of transaction so they think there is no applicable tax system. but actually in terms of improving a country's economy I think bitcoin is very helpful as an alternative in terms of finance so the government must provide policies to bitcoin without only thinking about taxation issues

[amwer]

Those who believe that no government (except those run by bad dictators) can take an extreme step such as banning the coin-forming, they really need to return to the old history and receive lessons from it. For some time, the possession of gold bullion in the United States of America was an offence punishable by up to 10 years ' imprisonment. In 1933, US President Franklin D. Roosevelt ordered all Americans to hand over their gold possessions to the Federal Reserve Bank. The ban on owning gold has been in place for more than four decades, before President Ford has approved the legitimacy of gold ownership. This change was easy when considering the fact that America had abandoned the standard of gold for a short period during the presidency, and therefore there was no need to have huge amounts of gold to support the currency being printed.

[tanyeza123]

If that thing will happen I really don't know where I can get additional income in future, the really things here is when I was entering in bitcoin, I have so many plan in my life that that bitcoin is part of it, and I can't imagine my life in the future without bitcoin, because bitcoin is the answer of all my payments and if hat matters will disappear what will I do.

[annaso]

If a government decides to make trading or possessing Bitcoins illegal, questions will be raised about how exactly it will enforce such a ban. It is impossible for a government to seize your Bitcoins, unless you decide to handover your private keys. However, the majority of citizens and institutions like to stay on the right side of the law. So the demand for Bitcoin would plummet if the government decided to ban it. All exchanges in that country would also be shuttered and buying/selling Bitcoin would be difficult and risky. This would suffocate Bitcoin in that country and the government’s objectives might be achieved but people finds the way as it going in countries India and China. 

[rajesharora002]

i think it is not possible to govt. bans on bitcoins . reason  is that bitcoin digtal currency moving one person to other person by wallet on computer so govt till today did not know how many bitcoin in curculation in world .  now a day all conturies in world not interested on bans on bitcoin but some contries allow bitcoin in their contry .

[CharlieArtist]

Being banned with bitcoin is a difficult decision. Because many people do not agree with it especially the people who know the real with it. With our coins on the wallet if we can not stop it, we can sell the cryptocurrency to another country.

[DEGREE07]

I think there is zero chance that administrations would boycott bitcoins. Most nations including USA, gains a considerable measure of duties from bitcoin benefits. For what reason would they stop such a procuring? other than I imagine that most store organizations and contributing organizations contribute and exchange digital currencies, they would not acknowledge such a boycott. All they like is fud and fomo and Actually nothing will happen. Despite the fact that legislature have no reason for prohibiting 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.

[dav-santoshi]

The beauty of bitcoin is that it is both decentralized and trustless.  Because of this, no government can do anything to stop or alter Bitcoin.  Governments can pass all the laws they want to attempt to criminalize buying bitcoins, using bitcoins. but they are powerless to stop or change Bitcoin itself

[quandong]

Many players still believe that Bitcoin and other crypto-currencies will not be managed by any government or country. In fact, when Chinese government officially introduced the electronic money ban, the players in the country immediately turned to the floor of Japan. The price of Bitcoin was down a bit, then it jumped and continuously broke the price record.

[MoreMoneyHunt]

Governmental regulations can only limit the patronage of Bitcoin but cannot completely ban the transactions of Bitcoin. Bitcoin is decentralized and works fine whenever there is an internet sources, the more reason why there are merchants in countries where Bitcoin is illegal. These merchants trade the Bitcoins and move to other countries to exchange for fiat. Some also utilizes escrow markets.

[jayveerastrullo]

for a government ban bitcoin they need some strong evidences that their citizens are being scammed or system is being hacked. There are countries that bitcoin is already banned. Maybe they did that for the security and safety of their people. BUt still they can use crypto but they need to buy vpn.

[megalith07]

Indeed, even now there are ban over BTC also cryptographic money on different countries. A few has reclaimed the ban understanding its need, while a few has been under hard investigation to make utilization of it in a compelling way. From my experience nothing could happen regardless of whether countries ban BTC, in light of the fact that one who have confidence in BTC will keep utilizing BTC conquering any issues.

[Descon]

It is possible but if bitcoin become more easily accessible to more countries and people know more about it . Some governments ban it because they fear what they do not know and what they cant control