What if Government bans Bitcoins?

[karankamaze]

the government will only block the ISP network in the country, and they cannot ban and monitor full business activity on the internet, there will always be loopholes and this can be penetrated with VPN and various other factors, I think this inability will make the government eventually reevaluate and trying to consider it legal in the next few years, if not like this, transactions and all crypto businesses will be free from their monitoring and face huge losses because they are lagging behind in rapidly growing information technology.

[brightology]

Bitcoin has been a world wide use currency, and acceptable, which has been function for many yeas now, Hence i think we are going more and more technology world, because bitcoin is a digital asset, where government has no access, but rather to band in a particular country.

[Itcher]

if this happens, all will be holders of coins that can not be sold, and only on decentralized sites and hosting)

[Ratmanrr]

I don't believe all governments will ban Bitcoin. Even with those governments who already did so, I guess the situation will change sooner or later and they will have to accept it whether they like it or not. I understand that governments don't like when there's something they can't control, but as soon as they understand that ban will only force people to go underground and pay less taxes without the government even knowing it, they may agree to accept it.

[Chattym]

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.

Absolutely. I think the only thing they can do is declare that BTC is banned. Providing Bitcoin users are reasonably careful, a government can't neither trace nor prevent BTC transactions. What they can do, however, is they can block the websites of certain exchanges. That's it.

[Rooster101]

There would be a great impact on the price of the cryptocurrencies if majority of the governments bannad bitcoin. China did a couple of years ago but the top coin recovered later and achieved its all-time high last december 2017. I think only few countries would totally ban bitcoin and the rest will put the cryptocurrency into regulations to safeguard their people financially.

[princehandsome]

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 the government bans Bitcoin in the future and the assets you have in your wallet are a lot then I think everything will disappear. but we must remain optimistic if the future of Bitcoin will always be bright.

[ParveZ219]

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??

government is already running Bitcoins in many countries because they think that all the illegal works are done using Bitcoins only and so that Bitcoin is also illegal as because Bitcoin can't be traced so the government is banning Bitcoins in many countries in fact it's true that all the illegal works are done using between sorry like drug smuggling and in the dark website also everything is done using Bitcoin only.

[drukoz2]

I don't think it's a ban, if it happens, it will happen in a moment. And if we realize that there is no chance, we will have time to save their coins.

[FRAGILE07]

Entirely will occur. In spite of 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.

[zhanyiguai261315]

It is almost impossible to technically ban Bitcoin.
The key to the existence of Bitcoin is not whether the government blocks it, but whether investors who encrypt the currency can always maintain trust in it!

[FlightyPouch]

I don't think it's a ban, if it happens, it will happen in a moment. And if we realize that there is no chance, we will have time to save their coins.

If they ban crypto currencies, or maybe Bitcoin, well that is obvious, then you will not be able to use them in your country, that is the obvious answer. That is the expected scenario when the government of a certain country ban cryptos or Bitcoin. But hey, you can still transact them online, trade them in exchanges so it is still fine.

[pinkpanther03]

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 remembered when I was a newbie, I read here in the forum that some for countries they've banned bitcoin I'm not exactly so sure if I am correct or not but you can correct me if ever I am wrong with the information. Bitcoin was banned before in Russia then after a couples of months or years they've revoke it and now Bitcoin was very useful to this country, so meaning there is a big future waiting ahead for bitcoin, which means its not possible to be happen at this point of time now.

[ekateriinae]

if the government banned bitcoin so that country will no longer support bitcoin but it still cannot stop the people's from using it as it stay anonymous. it hard to detect who the owner. So bitcoin are hard to be stopped even it being banned.

[Roni116]

I think the government can't completely ban bitcoin unless the government intends to stop the internet. The government ban is only for the use of bitcoin as a means to buy goods.

[syntac]

the possibility that it could happen in the future, because the local government claims that the presence of bitcoin in the future will threaten the system or banking turnover in the country, bitcoin will control the country.
the possibility of what happens in your wallet, it looks like it will be returned again, maybe it might not return 100%.

[Trustor]

Be it any country, Government has the power to ban bitcoins but a government can ban bitcoins in a particular country only where it enjoys its power but it cannot ban bitcoin altogether as there is no authority or anyone who controls bitcoins. Having said that many countries have already accepted bitcoin and I do not see any such ban in near future.

[wildey]

the possibility that it could happen in the future, because the local government claims that the presence of bitcoin in the future will threaten the system or banking turnover in the country, bitcoin will control the country.
the possibility of what happens in your wallet, it looks like it will be returned again, maybe it might not return 100%.

yeah, but if that happens, I don't know what to do. well, I consider the crypto world like a good job for me. well, maybe now I just have to prepare it, but I just hope that it doesn't happen. well, many possibilities can happen in the future.

[vfrcbv91]

I think that then people will just start using p2p markets. The government will not be able to ban people from believing in bitcoin, it can only make the exchange uncomfortable. IMHO

[Goodnuel]

There are some governments that has banned bitcoin and cryptocurrency at large. There are also some who has made it acceptable in their country, others are indifferent to it... So, every government can't ban it at same time, as every government has its own goals its chasing...

Some countries and governments have found the bitcoin an interesting prospect, and there's a full research on it... The governments can try to regulate it in the future, and not ban it.