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timerland
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May 09, 2018, 11:13:09 AM |
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Bitcoin network can't just be closed. As long as there are nodes on the network that are still operating, bitcoin will still be alive and well, and serve its purpose. Unlike previous anonymous payment processors, bitcoin doesn't have a central point of attack or failure. Governments around the world can't simply shut down the network, like they did to Liberty Reserve.
It'll be unlikely for governments to actually ban bitcoins, let alone for the entire world to ban bitcoins and for the governments to form an alliance on this matter. I think the scenario would be next to impossible.
It would definitely have negative impacts on BTC, no doubt. But I would not be surprised to see if there would still be a lot of people using it as a currency. After all, governments can't shut down the bitcoin network itself.
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Flayme
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Activity: 210
Merit: 0
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May 09, 2018, 12:33:43 PM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
That's a nice idea but for me it will not happen... Yes probably a lots of country prohibit the use of cryptocurrency in their country... But still they cant control everyone of us to stop it... Bitcoin is not illegal nor scam... So if government banned it for me it will probably the worst problem of every crypto user... But as long as the time of bitcoin today is not against us... Don't worry about it... But incase it happen we need to depend the uses of crypto until the government realize it... Hoping that soon they will get thia point... |
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gabmen
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May 09, 2018, 01:46:40 PM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
That's a nice idea but for me it will not happen... Yes probably a lots of country prohibit the use of cryptocurrency in their country... But still they cant control everyone of us to stop it... Bitcoin is not illegal nor scam... So if government banned it for me it will probably the worst problem of every crypto user... But as long as the time of bitcoin today is not against us... Don't worry about it... But incase it happen we need to depend the uses of crypto until the government realize it... Hoping that soon they will get thia point... Let's face it, if all governments illegalize crypto, it will not survive. For whatever reasons the governments may have if that happens, it will start a massive decline and people will avoid being into bitcoin. Thise who would prefer to still use it will have an extremely hard time and market will shrink. |
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bohr
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May 10, 2018, 10:36:16 PM |
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That’s very unlikely to happen. Banning cryptocurrencies or Bitcoin is not very easy. The countries cannot ban a technology simply on grounds that it is reducing the consumption of fiat money. Especially when the citizens are holding a great amount of Bitcoin, it would be very difficult to ban it as it would cause huge financial losses to the public which can in turn affect the financial stability of the economy and no country would want that to happen. Moreover governments have no control over the private key transactions what so ever and all the 195 countries of the world moving in the same direction is something absolutely impossible. Terrorism is the biggest menace we all agree still many countries help it prosper where directly or indirectly then how can you expect them to take a stand on cryptos.
You are assuming that governments care about the well being of their citizens and that is not correct they only care about their own well being, if the economic system based on fiat currency is threatened by cryptocurrencies they are going to ban it, they do not care if their citizens lose a fortune they are going to do it, the problem for them is that such a measure is not going to be 100% effective. |
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talenah kotang
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May 11, 2018, 12:45:21 AM |
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If bitcoin is prohibited, of course I am confused to sell where my coins, but it is not an easy thing to ban bitcoin around the world. Of course the government will issue its own policy without harming money and bitcoin.
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MainIbem
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May 11, 2018, 03:09:10 AM |
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The operation of cryptocurrency is not very easy to control. Besides, it is not totally useless. Therefore it unlikely that all governments will at a point agree to ban cryptos.
However, if it so happens, then the should shot down the internet because p2p transactions will continue underground.
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Rossy Akbar
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May 11, 2018, 03:22:05 AM |
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Here is the thing I mean, for me personally you can't invest a lot of your assets in the bitcoin, it means that should be there is a real thing or company you need to make and to invest all you have in bitcoin. It will be good result if you have a lot of investment in bitcoin but no one can guarantee the safety of your assets even your country had legalize a bitcoin, that's why bitcoin was so risky.
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hastang
Jr. Member
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Activity: 149
Merit: 3
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May 11, 2018, 03:44:25 AM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
i will sell all my remaining coin before the closure is implemented. if the world unite theres nothing we could do... by the time it will be set of. i have already sold my coins to market this is to avoid getting the coin into useless currency. |
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el kaka22
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Activity: 3696
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www.Crypto.Games: Multiple coins, multiple games
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May 11, 2018, 02:21:46 PM |
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if i have a lot of bitcoin and chances are it will happen i will panic and sad because where to go sell bitcoin ...
Fortunately, this is one thing that obviously cannot happen looking at the way things have been over the years and how government are already resorting to regulations. If they had the chance to eliminate bitcoin, this would have been done a long time ago. Asides that, it is pretty much an impossible thing to imagine for all the countries all over the world to just come together to be able to achieve this. There would still be a lot of countries that would see benefit in all these, looking at Australia, Japan, Malta, and so on, which to me would be a hard thing to achieve. |
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fredo123
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May 11, 2018, 02:33:53 PM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
If i already knew that might happpen in the nearest future,Then I took advantage to dump all my bitcoins and invest another thing to counter part cryptocurrency investment, Perhaps i will shift to real estate investment because that is my passion to have properties, |
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Malya_alkendy
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Activity: 236
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May 11, 2018, 02:39:26 PM |
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If I have a lot of Bitcoin and the government suddenly prohibits the ownership of Bitcoin, bitcoin transactions or anything related to Bitcoin. then I will slowly sell my Bitcoin. but when I want to sell my Bitcoin, I'll wait for the highest price until I get a lot of benefits from my Bitcoin. because I do not want to bear the risk of loss, in because of the ban from the government.
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1Referee
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Activity: 2170
Merit: 1427
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May 11, 2018, 03:06:35 PM |
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There would still be a lot of countries that would see benefit in all these, looking at Australia, Japan, Malta, and so on, which to me would be a hard thing to achieve.
That's also a form of 'decentralization'.  In all seriousness, it feels great to know that one country isn't the other when it comes to being open minded towards new emerging technologies. On the other hand, I am sure that when Japan has been booking consistent GDP growth through Bitcoin alone, other countries will follow. It's impossible for any well thinking government to ignore that. Seriously, not allowing crypto currencies to develop in your country does more damage than allowing them to develop. If we take into consideration that it is a perfect hedge as well for governments, then they are even more stupid. In case the regular economy implodes due to their shitty fiat system, which is quite realistic to happen, they won't be hit as hard with crypto offering an alternative form of growth. Japan is smart, very smart. I'm looking forward to their GDP statistics for 2018. |
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Mpamaegbu
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Activity: 2870
Merit: 1233
Once a man, twice a child!
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May 11, 2018, 03:39:02 PM |
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...there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
This Is Never Going to HappenHuman beings are heterogeneous in perspectives and that is why there are always disagreements and wars because of failed compromises. Whoever thoughy this is merely joking. How is it going to be possible for all to agree to ban a thing as huge as cryptocurrency? Nah! This isn't going to ever happen. By the way, did we follow what happened at the recently concluded G20 summit which had in Argentina? Did we notice how divided the member countries were on the issue of cryptocurrency with many siding with the cryptocurrency stuff? So, OP don't panic. It won't happen. |
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dewi91
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May 11, 2018, 04:11:54 PM |
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If that happen when I have a lot of bitcoin there is no option except I will sell my bitcoin as soon as possible because if I keep hold it, I will lose my money, but I think that is possible to happen if bitcoin is prohibited all around the world because eventhough bitcoin become a global currency, bitcoin can't be use as main currency and we are still need local currency for daily routine.
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zergenyt09
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May 12, 2018, 05:06:13 AM |
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When all the governments in the world United to banned Bitcoin then we will a shrap fall of Bitcoin and maybe that will be the end of Bitcoin, even though you can't stop Bitcoin but when you had a hard time to deposit and withdraw, people will find other things to invest, actually I don't see any chance that all countries will banned Bitcoin, but if the scenario really happened then the best is to sell all of it before the official news out
Definitely bitcoin will crash because in my country government has banned bitcoin and other cryptocurrency and now people cannot do transactions easily. It is a big problem for the investors in my country. But I think it will never happen that all countries of the world ban bitcoin, because now many countries are going to accept bitcoin and many already done it. |
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xiwanfd
Jr. Member
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Activity: 124
Merit: 1
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May 12, 2018, 05:28:37 AM |
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Every country has its own ideas, and many countries recognize the legitimacy of bitcoin. There will be no joint ban on bitcoin.
If state management is also taxing rather than static.
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wozzek23
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May 12, 2018, 05:50:42 AM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
I am still thinking of the possibility that this kind of situation may happen that's why I am diversifying my source of income so that I can still manage even if the cryptocurrencies would be ban. This is highly unlikely to happen but we cannot eliminate this possibility so I am building a business as well in a different field earning fiat. Although most of my income is from cryptocurrencies, I am converting some to finance my business. Through this way, I wouldn't be bothered much thinking that my country would ban crypto although they are already issuing licenses to some crypto companies. If ever they would decide to ban it, I would just stop earning from it because I don't want to be put in jail just because I wanted to continue earning or using it. Investment in bitcoin is full of risks and we know that only those can invest in bitcoin who has the courage to bear the lose and face all kinds of situations. Many countries are legalizing bitcoin because the future is of cryptocurrency and if all the countries in the world ban bitcoin, it will collapse and there will no value of bitcoin and the holders will lose all their money. Nobody can do nothing in this situations. |
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SiNeReiNZzz
Legendary
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Activity: 1022
Merit: 1043
αLPʜα αɴd ΩMeGa
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May 12, 2018, 06:14:00 AM |
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Perhaps one day with the current bitcoin advances, bitcoin digital currencies will be an international currency for all countries, and make it easier for every human to make transactions between countries when going to another country.
if it happens in the future it will certainly affect the paper money that exists around the world, whereas we know when the banknotes have a lot of history and symbolize the diversity of a country with other countries.
if that happens, surely the government will not remain silent on the matter, there will be an agreement between state governments to immediately close the bitcoin network to the world.
what will you do if you have a lot of bitcoin.
That's a nice idea but for me it will not happen... Yes probably a lots of country prohibit the use of cryptocurrency in their country... But still they cant control everyone of us to stop it... Bitcoin is not illegal nor scam... So if government banned it for me it will probably the worst problem of every crypto user... But as long as the time of bitcoin today is not against us... Don't worry about it... But incase it happen we need to depend the uses of crypto until the government realize it... Hoping that soon they will get thia point... Let's face it, if all governments illegalize crypto, it will not survive. For whatever reasons the governments may have if that happens, it will start a massive decline and people will avoid being into bitcoin. Thise who would prefer to still use it will have an extremely hard time and market will shrink. Although there are still few that keeps supporting bitcoin when that happens, i guess it will be really a hard time for those supporters. There is also no telling what will happen if the government will really make a move and officially prohibit bitcoin all over the globe. And if really the government will be serious on this and for whatever reason they have, they will extremely do whatever it takes in order for the supporters to be on a hard time or if worsts comes to worst everyone who has bitcoin will be considered as criminal. |
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minhdang2212
Jr. Member
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Activity: 182
Merit: 2
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May 12, 2018, 06:35:11 AM |
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I think bitcoin is hardly to be banned around the world, for the benefit of each government is completely different, they can hardly be mutually beneficial. The government can close websites, they can catch trading floors, they can raise taxes. But the government can not stop an idea when its time comes.
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sheenshane
Legendary
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Activity: 2492
Merit: 1232
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May 12, 2018, 07:08:51 AM |
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I think bitcoin is hardly to be banned around the world, for the benefit of each government is completely different, they can hardly be mutually beneficial. The government can close websites, they can catch trading floors, they can raise taxes. But the government can not stop an idea when its time comes.
Yes totally agreed, not all countries are the same perceptions on bitcoin that cause of banning mostly who adopt bitcoin those countries who want's to ride what is bitcoin and luckily that's what happen now here our country they are quiet in taking actions of bitcoin making policies. I know there are some governments who making money in bitcoin and ride the whale of what bitcoin is. |
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