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Question: what steps will you do next?
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Author Topic: What if all the governments of the country united to strictly prohibit the exist  (Read 514 times)
ausbit
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June 07, 2018, 11:37:19 AM
 #161

I think it is very difficult to make the whole world ban bitcoin, because bitcoin is the first very good digital currency and greatly affect the economy of a country, and if that happens then I will quickly exchange all my bitcoin coins with FLAT money ...

I agree. And if all country agreed to ban crypto currencies but a lot of people depends on it, it will be a big problem to the institute and it will also be the problem if the government. The government depends on the people on what they will do for their country, now if their country wants cryptocurrency then they wont have any choice
But I for example BTC is banned by the government, in my opinion BTC can still exist. Despite the low price, BTC is still traded in decentralized places. Not to be traded in the current concentration. But that is just an example, in fact the BTC is now accepted by many countries not easy to collapse.
What most people do not understand is that, we simply do not need the government to make a decision and we can still end up trading our thing, utilizing it as long as we see the value it brings as a currency and that is one thing with decentralization that the government can simply not take away.

Also, so many countries are already regulating it and that is simply affecting their economy growth in a good way, for instance Japan and if all other countries start seeing this, they will simply want to take the same step, most especially the underdeveloped nations.

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June 07, 2018, 05:46:18 PM
 #162

I would keep each and every single last bit of it and fight. I'm also dead certain that are many others who would do the same and by such a time for crypto, alot more people would be using it by then. If government is smart they would not choose this route tbh
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June 07, 2018, 08:14:57 PM
 #163

banning bitcoin is not possible  if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin.
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June 07, 2018, 09:04:45 PM
 #164

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.
They do not have the power to do so, the only way to affect the bitcoin network is by shutting down the whole internet and if governments around the world did that there will be an outcry from a significant portion of the population of the world that are very dependent in it, in fact I do not know if governments could really shut down the internet since that would mean shutting their communication channels as well.
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June 08, 2018, 03:31:17 AM
 #165

The value of bitcoin is that it doesn't require any government recognition.

If governments were to block bitcoin, it would have no current level of value, but it would still have a value.
Governments can ban bitcoin but there is a big difference between a ban and to block bitcoin completely, they can ban bitcoin by just some voting and a stroke of a pen, but to block bitcoin they will have to develop a way to block bitcoin specifically, they will have to begin to destroy nodes all over the world and maybe even taking measures against bitcoin holders and this is a lot harder than it sounds.
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June 08, 2018, 07:56:07 AM
 #166

The BTC system is alive in the online world. Unless all countries in the world have closed the network, the BTC system cannot be closed! Closing the Internet all over the world has serious consequences.
So technically blocked BTC!
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June 08, 2018, 08:19:36 AM
 #167

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 the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.

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June 08, 2018, 08:54:18 AM
 #168

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 the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.


              Obviously if that will be happening, they will use all their means to prevent us from using crypto all over the world, aside from that, since they cannot control this kind of economy and cannot get their hands into it, instead they will use those resources that are within their control in order to go against the users of crypto. That is how i see the country when all of the government members will be against crypto.


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June 11, 2018, 11:37:03 PM
 #169

Even if all countries unite and try to prohibit the crypto currency, they will not get it anyway, because the crypto currency has already penetrated our world! Progress can not be stopped and the government, in my opinion, should not hamper the development of the crypto currency.
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June 12, 2018, 02:07:09 AM
 #170

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 think it's very difficult to get the whole world out of bitcoin, because bitcoin is the first truly excellent digital currency and profoundly affect the financial. Bitcoin is the future technology. No one can refuse the technology.
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June 12, 2018, 03:25:28 AM
 #171

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 the government should decide that Bitcoin or any other cryptocurrency should no longer exist… I don’t anything bad will happen. The government will order all Bitcoin exchanges to return money to their rightful owners and close up their sites. Unless they the government decides to seize every money that is in the blockchain. But I don’t think they will ever do that.


              Obviously if that will be happening, they will use all their means to prevent us from using crypto all over the world, aside from that, since they cannot control this kind of economy and cannot get their hands into it, instead they will use those resources that are within their control in order to go against the users of crypto. That is how i see the country when all of the government members will be against crypto.

You have a point, and to be honest they cannot really get their hands into crypto because of its decentralization, but instead they will use something they have in order to keep the users off the crypto, for example is by using their law to prohibit crypto in a certain country. In my opinion some companies are already having an idea about blockchain technology, but still they are waiting for some hints to when it is time to use it, because as usual their company will be at stake if they make the wrong decision.

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June 12, 2018, 03:47:35 AM
 #172

banning bitcoin is not possible  if that is possible any country would have banned by now but it is officially not possible because bitcoin is run on network decentralised manner no govt or central authority can ban bitcoin.

But although it can not stop bitcoin completely but the effect of the prohibition and regulation of a country is very large on the crypto market, especially if the whole country is united to ban the existence of bitcoin, of course it will shake the market crypto and bitcoin, I can not imagine what will happen if that's true..

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June 18, 2018, 02:48:40 AM
 #173

The BTC system is alive in the online world. Unless all countries in the world have closed the network, the BTC system cannot be closed! Closing the Internet all over the world has serious consequences.
So technically blocked BTC!
We should not underestimate governments it is true that the only way they have now to block bitcoin traffic will be to block the whole Internet and that is not a real possibility but at the same time, what if they find a way to distinguish bitcoin traffic from your regular traffic, in that case they will have an effective way to block bitcoin and still leave the internet intact.
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