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Author Topic: What will happen if 100% government ban bitcoin?  (Read 1985 times)
bitbob82
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January 28, 2014, 09:21:28 AM
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I am just very worry with all the bad news flying around

I just want some expert to explain to me, what will happen if 100% of all government around the world ban bitcoin??

that would mean you will have no place to spend your bitcoin legitimately even if you have one

there will be no legitimate exchange where you can buy sell your bitcoin


any thought?
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techstorm2
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January 28, 2014, 09:31:16 AM
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That wont happen, as some govt, somewhere will go against the grain and want to embrace the tech advantages and innovation + tax revenue from all the companies wanting to either accept btc or create btc systems. None of them will want to lose out to another country.

you'll see the usual suspects crack down on it who have always been harsh and restrictive with their citizens, china, russia.


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Elwar
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January 28, 2014, 09:39:27 AM
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Which government?

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Coinraptor
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January 28, 2014, 09:47:47 AM
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price will go down, many people selling, than in time it will go up but not as it is now, black market works with fiat just fine.

bitbob82
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January 28, 2014, 09:59:01 AM
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Which government?

right now the China , Russia, India  is not friendly with bitcoin and trying to limit it as much as possible
Zarathustra
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January 28, 2014, 10:04:18 AM
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any thought?

Then the democracy (civilization/collectivism/idiotism) will be discredited and dead even faster than at the actual pace. Civilization would collapse even sooner than it will anyway, without this specific action. The rebirth of anarchy and humanity would come sooner.
Erdogan
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January 28, 2014, 10:11:17 AM
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The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

Xenoph0bia
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January 28, 2014, 10:20:43 AM
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I just want some expert to explain to me, what will happen if 100% of all government around the world ban bitcoin??

All governments around the world banning bitcoin? This would be conspiracy, right? Fortunatelly bitcoin is peer to peer network and you cant eliminate it completly so easy, you would need censor the internet as well

JFKing
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January 28, 2014, 10:28:34 AM
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I hope they will never ban it !  Angry
Sydboy
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January 28, 2014, 10:36:41 AM
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We will just use Tor to get around the tcp port bans the really stupid countries put in place.
My concern is cashing out in larger numbers. I do not have that problem, which is unfortunate, so localbitcoins is good enough for me and should be if everyone in the world involved is forced to use those types of sites.

The other people will stop their involvement as its illegal.
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January 28, 2014, 10:43:41 AM
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Which government?

right now the China , Russia, India  is not friendly with bitcoin and trying to limit it as much as possible

Firstly, these three countries don't have the same approach to BTC, don't put them in the same basket.
Secondly, there are over 190 countries in the World, obviously not all of them will welcome bitcoin with open arms.

Zarathustra
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January 28, 2014, 10:44:19 AM
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The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).
hilariousandco
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How does one bitcoin?


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January 28, 2014, 11:04:55 AM
 #13

I am just very worry with all the bad news flying around

I just want some expert to explain to me, what will happen if 100% of all government around the world ban bitcoin??

that would mean you will have no place to spend your bitcoin legitimately even if you have one

there will be no legitimate exchange where you can buy sell your bitcoin


any thought?

You mean ban it like drugs are banned? It's not going to stop people from using it. And you'll still be able to trade coins on places like here.

Erdogan
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January 28, 2014, 11:57:34 AM
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The government works in an anarchist environment. There are no rulers, each entity is sovereign. It is unlikely that all will do the same, the market will make sure there is diversity.

Imagine that there were no slaves, all individuals a sovereign.

There was never any government in an anarchist environment. Anarchy is where you are not governed: In some last territories in the rainforest and in the arctic tundra; and 10'000 years ago everywhere, before the birth of the tragedy: the invention of organized violence (state and church).

So who in fact governs the governments. Who decides which government will have a trade deficit, and which will have a trade surplus. Who determines which currencies are to be used for taxes in each government jurisdiction?

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January 28, 2014, 12:04:37 PM
 #15

Guys, the government SERVEs the people, when they don't! revolt against them.

We are not the slaves of the government, they are there (or should be) to do stuff that benefits the community, that is their job, and their only job.

Don't be afraid of the government, we are in the mayority.
bitmiggy
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January 28, 2014, 12:34:53 PM
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I don't think it'll be banned as there is now too much money involved. They will probably regulate exchanges more and more, and require all of us to say how many coins we have on our tax returns.
Meuh6879
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January 28, 2014, 12:36:11 PM
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if industry of music haven't ban P2P file sharing ... (and it have money for this)
what do you expect from an administration that it have no money at all for lobbying (and ban bitcoin) ?
web-project
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January 28, 2014, 12:51:57 PM
 #18

Which government?

right now the China , Russia, India  is not friendly with bitcoin and trying to limit it as much as possible

USA too as "US makes Bitcoin exchange arrests after Silk Road closure":
http://www.bbc.co.uk/news/technology-25919482

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hilariousandco
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How does one bitcoin?


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January 28, 2014, 01:16:31 PM
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Which government?

right now the China , Russia, India  is not friendly with bitcoin and trying to limit it as much as possible

USA too as "US makes Bitcoin exchange arrests after Silk Road closure":
http://www.bbc.co.uk/news/technology-25919482

That's completely different. They were doing illegal things using Bitcoin.

LiteCoinGuy
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January 28, 2014, 01:22:48 PM
 #20

price will be sky high then.....no it wont  Tongue

if the leading countrys ban it we will see BTC at 5 USD. its a high risk investement.

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