What if Government bans Bitcoins?

[Ace Amias]

I think why should government take such an awkward step because bitcoin is a new opportunity to younger who can invest in bitcoin and enjoy it without doing any work I know that's it also decentralize and government can not make a proper check and balance system maybe they made it in future but we also know that bitcoin is accepted all over the world except few countries. So better luck for future bitcoin.

[ngocdhbk2]

If the government bans Bitcoin i think the market will decline in all respects. Bitcoin prices will be affected by Bitcoin always sensitive to the bad news. In addition the transaction will be restricted to many economic organizations and banks. But i think it is only possible to limit the influence that Bitcoin can deal independently between individuals, so the government can not intervene. And we can't need worry so much.

[delphic]

I hope that doesn't happen.))))))) I see absolutely no point in that.Such actions of the government will make worse only to itself.Even if such attempts are made, I think the creators of the company will find new loopholes to promote the product.

[Alex31207]

Unlikely to ban.Will be able to prohibit advertising cryptocurrency but not the cryptocurrency itself.If the government wanted to ban it,they would have done it long ago.

[Shadesofglory]

They are doing it already, only that it has not been that effective. There are some loose ends for them to tie to effectively effect that. However, not all countries of the world would follow that part. Some have seen Cryptocurrency as the pathway to salvaging what remains of their economy. Venezuela, Argentina are said to have embraced it to help in restoring their economy. Let us see how it pans out as the excuse as always been to fight corruption and terrorism.

[Zebulun18]

Bitcoin can't generally be halted now. The alleged crypto bubble is so gigantic now that it can't burst...it resembles air ballon and will fly high and higher in future. Presently if Govt boycott it, it will end up being a world class product which just rich or tech oddities will hold. In that setting it tends to be valuable and must be utilized for tax evasion, riches concealing and so on.

[lovinglife]

Well for starters; It's not going to be the end of the world lol

[G.Higgins603]

It's simple value of bitcoin will become zero but don't worry it won't happen

[SIDDHI777]

Some countries were already banned bitcoin, and here in my country they did not banned it not because they don't know what to do but they find bitcoin as an interesting and a great opportunity for the people, and a big help in our growing economy.

I hope every country would think like your country and specially my country because in my country politicians are already making arrangements directly and indirectly to make restrictions against using Bitcoin and other cryptocurrencies without any reason and the central bank has already announce citizens regarding the matter which makes us in a really bad situation but I hope at least the majority of countries in the world see the bright side of Bitcoin so other will too follow there path to gain profits

[fonengo]

Hi, everybody. I think there is no chance that governments will ban bitcoin. The world is positive about bitcoin.

[Verde_Mantis]

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 really see how they could censor or block bitcoin in the whole world, without huge limitations on the daily life. It could happen in a few countries such as China, but not on a global scale for sure.

[muneeb.zain]

As we all know that the bitcoin has be banned in main countries around the globe but some people somehow manage to trade and invest in bitcoin through thick and thin and earn quite good but you have to be aware. If government ban bitcoin in any state it will definitely has an effect on the bitcoin and bad impact on the market.

[Okrah]

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??

There are other countries banning crypto currency but I think the citizens there still manage to invest. Maybe it is just a matter of how you handle yourself that no one will notice what you do.

[mxyzptlkof6th]

First of all, the government cannot do that. Because the government doesnt own the bitcoin. But if the government in philippines will ban the bitcoin in here? They will not ban because it will help us to improve the society.

[T o x i c a l]

No government has long resisted the idea of ​​bitcoin, because any government understands that using bitcoin can control its citizens much better than using ordinary money.

[naruto7676]

Of course, when the government removed the bitcoin around the world, there were many irresponsible causes for their overdue funds in bitcoin and they could not be recovered because I think it does not happen because bitcoin is legitimate in different countries.

[AristoteI]

I think that Bitcoin is too universal a world phenomenon and with all the desire of the government could not lead to the ban of this currency.

[globalpain]

I think the government cannot do that, the government can only give a warning but it cannot completely prohibit, not all countries ban bitcoin, the government also cannot delete all sites related to bitcoin, we must keep thinking positively that bitcoin will continue to grow and be legalized in all countries

[-Newera-]

It is not possible in my opinion since many countries take a lot of taxes on bitcoin profits. In addition, cryptocurrencies help the economy. That's why I do not think Bitcoin will be banned in the future.

[Soneo]

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

I think Every effort to control bitcoin won't work. Despite the difficulties presented by the decentralization of bitcoin itself, governments and regulatory agencies have shown that they lack understanding of technology topics, and bitcoin is one of the most complex.
Some people fear government regulations can damage it, but they don't need to worry.