What if Government bans Bitcoins?

[tanglong]

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??

The Bitcoin market is very dynamic and sensitive to the information. If the government prohibits Bitcoin, i think it will affect Bitcoin prices. Bitcoin will cut prices for some time but will increase by Bitcoin is too familiar with the news of the government banned. I think we do not need to worry too much about this because it is just a limitation of influence and can not be banned for individual transactions. And Bitcoin is the trend of the world so there will be nothing to stop it.

[1715602386]

1715602386

[Delinquency]

It's not impossible. There's nothing to do prevent that for now. But I don't think governments dare something like that. Because there are so many big investors who we call "whales". I think they don't let it be.

[AliMan]

It's not impossible. There's nothing to do prevent that for now. But I don't think governments dare something like that. Because there are so many big investors who we call "whales". I think they don't let it be.

That question is impossible because even the government haven't enough knowledge about the technology of Bitcoin. They don't have any idea how it works and can be used in some site transaction. Also not only Bitcoin but to all cryptocurrency they have no rights to banned it because crypto is decentralized, In other words no one can control to crypto. Many people tried and even the goverment but in the end they not win.

[richman3451]

I think that this is impossible in the first place, it would have to disconnect the Internet around the world in the second simply because the government does not have such authority and knowledge

[000JOHN777]

Although government have no excuse for banning bitcoin and any other crypto,
But if it happening then you don't need to worry.
In future there will be some exchanges that will have total security of your accounts.
because Necessity is the mother of all creations.
So Keep yourselves calm & Keep trading.

[Huntler1993]

The reason why government cannot ban the use of bitcoin is that the government is not a single body. There are several governments on this planet. Each government also hold it own kind of view on BTC and that leads the the divided stands. Some governments might try to ban it others might legalize it since some government officials are behind the scene investing heavily in it.

[000JOHN777]

The crypto bubble is so huge now that it can't burst.
It is like air ballon and will fly high and higher in future.
Now if Govt ban it, it will become a elite commodity which only rich or tech freaks will hold.
In that context it can be precious and can only be used for money laundering, wealth hiding etc.

[Ethan Argu]

Some country are already bannned bitcoin. They see It has a bad potential in thier country. But some big countries is claiming that bitcoin it has a good impact to thier daily lives. Not sure if all goverment in the whole world banned bitcoin in future. But some people in the goverment see the potential to thier country or even in thier community.

[coinpool_de]

You never know what a government can do. Sometimes they say that they don’t try to prevent btc. And sometimes that say they will do some regulations etc. But still, i think even governments know they can’t ban it. People will always find a way to buy bitcoin.

[Patient_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??

the possibility of occurring like that is very small, seeing the effect that will be caused must be extraordinary, there will be economic chaos everywhere, so even if the government closes or blocks it, it is only local in a country, because bitcoin is global so need discussion between countries in the world about the profit and loss of blocking bitcoin, so the community of bitcoin owners don't have to worry because such a thing is likely to occur very small.

[Michi_]

It is true that some countries do ban bitcoin due to fear of financial harm and the idea of cryptocurrency overtaking banks, but then there is profit and convinience in bitcoin so the government can't completely ban bitcoin. Also, people are very strong willed, they will do whatever it takes to earn and gain profit. The government can't stop its citizens too easily. Moreover, it is already stated that bitcoin is not under any government or private sector, so they technically can't touch it with ease.

[erichall]

Banning bitcoin and all other cryptocurrency is impossible to happen now considering how big is it’s worldwide adoption and popularity. The least the government could do in case are to provide additional fees and to provide regulations and some safety measures to protect the welfare of the investors. The only way to solve the issue between crypto industry and government is acceptance. I strongly believe blockchain technology is the future and further enhance our existing monetary system.

[Mandarava]

To prohibit bitcoin, you need to have effective tools with which you can effectively suppress its use. But no one has invented such tools yet.

[balamuda]

I think in the future orders can accept and realize the benefits of bitcoin. And it can be possible that bitcoin will be legalized by the government and also apply tax on bitcoin as a source of income for the country.

[amar786]

bitcoin should not be banned. some countries are not accept bitcoin yet but in my opinion every country should accept the existence of bitcoin in our life. as it is the revolution in currency as it is intangible. if bitcoin would bans in future it would be a great loss to the believer of technology and revolutionizes. it would be end of creativity.

[Glutius]

I just hope it doesn't happen. My country is not very positive about bitcoin, but I know that some politicians, including the President, have investments in bitcoin. So that you can hope for is that the bitcoin on the territory of my country prohibited will not.

[lunertuner]

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??

Well you could be a complete pussy and let you coins be confiscated and obey your government.  Or you could be a free man and set an example for others to stand up for themselves as well and we can maybe take back our freedom and rights.  Somethings are worth fighting for.  Free money for our future generations is one of them.

Stand up for yourself.
Do not verify who you are at any point and keep crypto privacy in tact.
Do not support centralized projects or projects run by large corporations or governments.

[Madd_waz]

As a matter of facts, Bitcoin will not be banned. On the contrary, cryptocurrencies will be accepted worldwide. But for a very high price: governments will regulate and cryptocurrencies will no longer be decentralized.

For free transactions and digital world!!!Bitcoin should accept all over the globe

[bigbosma]

I hope most countries are smart enough not to ban bitcoin. It doesn't make any sense. This is a unique currency that must be active applicable.

[jhutsegie]

I think bitcoin will not getting ban by the government. Unless USA banned bitcoin and there will be having a domino effect to the other countries. But i think it wouldn't be ban because it is interesting and gives profits to the people which can affects to the economy of one's country.