What if Government bans Bitcoins?

[BlackPanda]

I think that even with the growing popularity of the government, it will learn to accept and legalize BTC, but if the government forbids it, I think it is quite extreme if the blocking is held, it will no longer be valuable, but I am optimistic, the government will think otherwise, they will try to think positively. take the good side and complete the shortcomings, but I don't know when it will happen.

The government needs time to be able to analyze all of that, as we know that what the government does will greatly affect the condition of its citizens. What I know is that the government wants the lives of its citizens to feel comfortable and happy. The application of Bitcoin as a financial system needs to have a regulation so that if someday Bitcoin will not interfere with the economic stability of a country.

[ParveZ219]

Government is already banning cryptocurrencies in many countries because nowadays almost all the illegal transactions are done through the cryptocurrencies because they are hard to trace... in fact in the future government will earn 1 Bitcoin and other cryptocurrencies as it is becoming one of the mainstream and it is just a currency so it can't be illegal

[vickyspatan]

why would they ban cryptocurrencies, many countries itself earning money and also many companies ar trading cryptocurrencies, so they wouldn't support it.so it's not gonna happen.

[Waitingforlightning]

governments also ban drugs, sex trafficking, and so many other things, but they simply cant. Bitcoin is even harder to ban as its completely on a non regulated and decentralised ecosystem

[taeewo]

If government ban the use of btc or other form of cryptocurrency, it will still continue to be existing and trading because btc is decentralized in nature and not easy to control by any body.

[gooddly]

The government can not support bitokoy as much as necessary. It does not affect its formation and development. I think that the government will soon understand this, and if it wants to get its share of revenue from bitkoyn, at least it will stop fighting it.

[Qwerts]

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 don't think the government will be able to block crypto currencies around the world because people nowadays are starting to learn cryptos and is giving them a lot of opportunities as they progress. People are earning and the government knew that and in most countries, cryptos are accepted and is taught in schools for the future generations. The best action the government can take is to regulate cryptos to lessen the illegal activities that most people do.

[Triwiyono]

now not all countries legalize bitcoin, in my country bitcoin is illegal, but my government isn't really blocking all sites related to bitcoin. they only leave as long as we don't use transactions for the real world. maybe if all governments disallow bitcoin, our coin will be gone.

[Tanya78]

If the government prohibits bitcoin. It will be a disaster for the government and personally for me. I do not want to lose my job.

[Dico88]

All websites are related to bitcoin and other uangkripto eyes because they cannot be used anymore. Bitcoin technology is far better than banks. This is a growth in the financial system. Bitcoin can grow quickly in the security, transparency and speed of transactions. Currently, some countries in the world support bitcoin because bitcoin will not be banned for future state financial transactions.

[kamoto]

In fact, I recently thought it was impossible ... but recently I read the topic with an interesting idea.
What will happen if the state redeems all the bitcoins?
This of course is not the regulation of the market ... but in this way you can just destroy bitcoin ... or you can not ... but this thought does not give me rest for the third day already

[narginDalmasca]

The government will not be able to intervene in blockchain. Do not worry.

[Janation]

If the government prohibits bitcoin. It will be a disaster for the government and personally for me. I do not want to lose my job.

Disaster for the government? Why is that? Can you give a specific reason? And do you think that the government will be having a decision that will be ending in a disaster for them?

I don't know your job well but I think if that will be a affected of Ban of Bitcoin and your job then I think you are an investor of a currency? A developer? A holder maybe? I don't think that that will be affected since you will only be able to use that currencies on your country, you can still sold or trade it online. I don't think you should rely on cryptocurrencies on a whole or as a source of income since you don't know what might happen. I am not saying it will be ending soon but what I am saying is that it is volatile.

[westril688]

If government ban the use of btc or other form of cryptocurrency, it will still continue to be existing and trading because btc is decentralized in nature and not easy to control by any body.

In a government policy, a country can ban bitcoin from being used in its country, but in practice the government cannot supervise all its citizens so that it does not trade or invest in bitcoin. Internet users cannot be monitored, if in their country they have problems, they can use proxies from other countries. While the results from bitcoin enter the e-wallet, continue to the payment gate and enter the local bank account. The government can't do anything because everything happens in cyberspace.

[Wonderced]

maybe not ban in the philippines because many people will recognize bitcoin in the government and will help us to improve the society for that may did not ban the bitcoin in phil.

[armarsterling7]

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 think governments in countries that have too much influence on Crypto. Because this is an anonymous community and contains a lot of risks. They can not enter the market to sabotage or protect us. So you do not need to worry about it, this is a good market and it will last forever.

[Bannednehlahmos]

I think it will have a negative impact on the citizens of this country in the world of crypto hahahaa ....

[ribowo76]

If there is a ban, the government of a country on bitcoin. I believe, it will not be effective. Sooner or later, they will realize it. Supposedly, they make rules that are appropriate for bitcoin. So there is no gap for criminals to commit crimes using bitcoin

[faithofb]

It is true government can ban bitcoin but it will vary from country to country.. Reason is because some country government agency are really investing big on bitcoin which they can never open their eyes for their government to ban bitcoin when their investment is there.

[dilemamis]

If the government succeeds in expressly banning Bitcoin, the coins in our wallets will be useless. But I think it's impossible for all world governments to ban bitcoin at the same time.