IF Trump via Executive Order Banned Bitcoin, what are consequences if any?

[serjent05]

It seems people hate Trump since after badmouthing BTC it goes up in price.  But banning Bitcoin through executive order is a different story.  I can say if that happen, a massive sell out will happen and the cryptocommunity will be shocked about the price crash.  Several country follows US lead so, that ban will have a massive effect on Bitcoin.  Ripple effect, after US banning Bitcoin, several allied country will follow then you know what will happen next. I just hope that he won't think about banning Bitcoin since we cannot say if he will ban Bitcoin or not since he is very unpredictable.

[Searing]

People are saying it won't have a negative effect on the price of bitcoin but I'm of the contrary opinion. I feel a lot of pressure will be put in the market which will trigger massive sell off resulting in bitcoin dumping.

Yeah, makes a guy wonder. Just one tweak away from him mentioning banning bitcoin, true or not, and we are down like $3k IMHO.

Just the clusterf*ck of someone just offhand tweeting something this silly with no intention of ever doing stuff would be enough. Too much irrationality

in current Trump Administration would magnify, unlikely to 'how the f*ck should I know if Trump is serious or not?

He has all that executive power that just don't give a f*ck, don't ya know. People would freak on a toss away tweet or even serious tweet in the same panic'd

manner IMHO.

I should probably sell some, for the hell of it. But what is the fun in that?

 I figure at best I have 25 years left in life, if I don't HODL now and take chances well, will it really matter when I'm in the Nursing Home. So WTF. HODL.

So even an off-hand tweet stating he is considering banning bitcoin could have serious (hopefully short-term) ramifications.

Not like things are getting better politics wise. The whole setup is off the rails completely, far worse, than I ever expected the country to be at this point in time.

Whatever, in today's world, 'perception is reality' or at least till Trump would be 'distracted' by the next twitter rant, so it could get ugly indeed, again, short-term

I'd assume? That 'maybe' such a tweet/plan would die a slow (too slow) death eventually as a policy. But it would be... say an ugly month for crypto and bitcoin.

brad

[ethereumhunter]

If Trump decides to ban bitcoin, I think that will be a dump in the market for temporary because people from the US will want to save themselves. Besides that, they don't want to break the law which prohibited bitcoin in their country. But we don't know if that will happen or not because the US government still allow people to use bitcoin. But I hope that will not give a bad effect to the bitcoin and I hope that the price won't get a deep dump.

[Mpamaegbu]

"IF Trump via Executive Order Banned Bitcoin, what are consequences if any?"

The part I bolded is the one that matters to me and I think there won't be ANY. Already, his people (US citizens) are excluded from registering and participating in some crypto exchanges and sites. The worse than can happen with what Trump said will be what happened when China banned Bitcoin in 2017. It dimmed the price just a few days and continued uptrend as if nothing happened. Let the Trump(et) continue with his loud mouth, his threats mean nothing, really.

[jostorres]

Even though cryptocurrency in India has not been legally banned, but it has been banned verbally butt yet, the number of Indians participating in cryptocurrency presently cannot be counted and government has not been able to do something about it, so if trump opens his mouth to ban crypto either via executive order, he would just not get any reaction because people will just ignore him knowing completely well that bitcoin transaction is an anonymous one in such a way that it cannot be traced, so there is no pint in him just wasting his time to ban it, and if it would even have any slight effect, it would be on the American citizen because it's their president and not mine, they have no authority over our economy and what we do in my country.

[Little_king]

I dont see that coming in anyway as every country has one or two right to dealnin their own respective jurisdiction without them and if he try to do that then his country is where he will concentrate on and not definitely the world as we have many that are in to crypto and not going back now, even France is in to it with China and likes of Malta , even British is going gradually base on the football team using btc logo on their jersey now.

[coin-investor]

He is not a president for life, he could ban it in his terms, but he will earn the ire of many business and investors for banning something that is already part of Americans everyday life, I don't think supporters of Bitcoin, individual or personnel, will follow Trump there will be protest in the business sector if he chooses to do it.

His party will have major loss of support from one industry which is the Cryptocurrency community, I don't think his party will let him do such an act, people will retaliate against his party.

[coolcoinz]

Yeah, makes a guy wonder. Just one tweak away from him mentioning banning bitcoin, true or not, and we are down like $3k IMHO.

Just the clusterf*ck of someone just offhand tweeting something this silly with no intention of ever doing stuff would be enough. Too much irrationality

in current Trump Administration would magnify, unlikely to 'how the f*ck should I know if Trump is serious or not?

He has all that executive power that just don't give a f*ck, don't ya know. People would freak on a toss away tweet or even serious tweet in the same panic'd

manner IMHO.

I should probably sell some, for the hell of it. But what is the fun in that?

 I figure at best I have 25 years left in life, if I don't HODL now and take chances well, will it really matter when I'm in the Nursing Home. So WTF. HODL.

So even an off-hand tweet stating he is considering banning bitcoin could have serious (hopefully short-term) ramifications.

Not like things are getting better politics wise. The whole setup is off the rails completely, far worse, than I ever expected the country to be at this point in time.

Whatever, in today's world, 'perception is reality' or at least till Trump would be 'distracted' by the next twitter rant, so it could get ugly indeed, again, short-term

I'd assume? That 'maybe' such a tweet/plan would die a slow (too slow) death eventually as a policy. But it would be... say an ugly month for crypto and bitcoin.

brad

Don't worry, not being a fan and openly going against something is a different thing. Trump is most likely not a fan of Putin, but he's not trying to start a conflict.
I'm younger than you but think in similar terms. It's all or nothing in this life, no middle ground. I have enough to live by and if I lose this "bitcoin opportunity" I will still have  a pretty much normal life, but this normal life wouldn't go from normal to super nice if I got scared and sold in 2018 or now. All it would give me is a nicer car and a nicer house, but is that really what an opportunity of a lifetime is there for? To improve your life just a little? No, it's there to change it.

[cheezcarls]

As WWE chairman’s Vince Mcmahon’s theme song lyrics says, “No chance! No chance in hell!”

It’s highly no chance that Trump would ban Bitcoin and other cryptocurrencies in the country. Despite that he says that Bitcoin and cryptocurrencies are a major concern in the upcoming elections, it’s unlikely that he would ban it completely.

I may not be a US citizen, but I had lost respect to him when he became president. He may be a respected business tycoon, but not as president. No matter if he wins another term or lose it to someone “better” than him, Bitcoin is here to stay and Trump cannot stop it. Period.

P.S. I want Vincent Kennedy Mcmahon to be the next president and says “You’re fired” to Trump’s face in the president’s office. Lol

[Diirtmaan]

This is unlikely, but Trump being Trump, anything is possible. So what would be the consequences of Trump via Executive Order

banning Bitcoin and Cryptocurrencies? A big Yawn? Ignored? A temporary dump in the price? A pump in the price?

I know it can't be killed by such, but what mischief in folks views here, would be a consequence of such an idiot attempt?

From this Tom Lee blurb:

day/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes]https://news.[Suspicious link removed]day/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes

Again, just saying, Trump is all over the place, so wondering what folks think. Hopefully, this will just stay a 'thought experiment'

AGAIN...this is Trump making an 'attempt' to ban Bitcoin via Executive Order Only and the consequences to price, etc, above. Not saying he can do so.

Just the odds of him being dumb enough to try to ban Bitcoin and any backlash or fallout from the attempt. Feel free to post your views.

Take the Poll.

Brad

Banning of Bitcoin means banning of the crypto market in the U.S. will hit large investors heavily and people will leave the U.S. to continue doing business related to the BTC. Also, the Bitcoin ban will cause a wave of discontent with a possible revolution like in Hong Kong was, because a Bitcoin ban means a human freedom ban

[boris2470]

This is unlikely, but Trump being Trump, anything is possible. So what would be the consequences of Trump via Executive Order

banning Bitcoin and Cryptocurrencies? A big Yawn? Ignored? A temporary dump in the price? A pump in the price?

I know it can't be killed by such, but what mischief in folks views here, would be a consequence of such an idiot attempt?

From this Tom Lee blurb:

https://news.u.today/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes

Again, just saying, Trump is all over the place, so wondering what folks think. Hopefully, this will just stay a 'thought experiment'

AGAIN...this is Trump making an 'attempt' to ban Bitcoin via Executive Order Only and the consequences to price, etc, above. Not saying he can do so.

Just the odds of him being dumb enough to try to ban Bitcoin and any backlash or fallout from the attempt. Feel free to post your views.

Take the Poll.

Brad

This is just an assumption. Although Trump has repeatedly expressed his dissatisfaction with Bitcoin calling it speculation. Perhaps Bitcoin will be banned in the US, however, this may have irreversible consequences like revolution and even economy recession

[Mulann2]

People are saying it won't have a negative effect on the price of bitcoin but I'm of the contrary opinion. I feel a lot of pressure will be put in the market which will trigger massive sell off resulting in bitcoin dumping.

And this goes to show people are just in for the money and not for the technology, otherwise why will a tweet from Trump affect and influence people to sell what they claim to believe in, clearly crypto community still have a long way to go in terms of their beliefs. If you believe crypto is here to make a difference why worry so much about a mere tweet?

[adzino]

I guess there is going to be a huge impact on the price but a short term effect. The price will get dumped by people living at the US (as usual when any negative events take place) as they will try to get out from bitcoin investment with minimum loss. This dump will cause further more dumping as people around the world will sell their investment as they will start to fear about there investment. Then whales will jump in to buy btc at lower rate, thus slowly causing the price to recover.
BTC is a global currency. The price is not defined by one single country's action.

[todiboa]

This is unlikely, but Trump being Trump, anything is possible. So what would be the consequences of Trump via Executive Order

banning Bitcoin and Cryptocurrencies? A big Yawn? Ignored? A temporary dump in the price? A pump in the price?

I know it can't be killed by such, but what mischief in folks views here, would be a consequence of such an idiot attempt?

From this Tom Lee blurb:

day/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes]https://news.[Suspicious link removed]day/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes

Again, just saying, Trump is all over the place, so wondering what folks think. Hopefully, this will just stay a 'thought experiment'

AGAIN...this is Trump making an 'attempt' to ban Bitcoin via Executive Order Only and the consequences to price, etc, above. Not saying he can do so.

Just the odds of him being dumb enough to try to ban Bitcoin and any backlash or fallout from the attempt. Feel free to post your views.

Take the Poll.

Brad

With such moves, Trump will achieve early elections of the US and will be overthrown by the people. Bitcoin is a kind of symbol of independence, if Trump prohibits it, people will be very angry and negatively inclined

[13abyknight]

Although renowned to be a madman in this age, I seriously doubt Trump would do something as stupid as banning Bitcoin in the States. First up, it's literally more taxes so it benefits the government and secondly, there's absolutely no harm in using it.
With that said, if he actually does it like an actual madlad, the markets would come crashing down like a house of cards and the recovery period would be 6+ months with a bearish market.

[Artemis3]

I guess there is going to be a huge impact on the price but a short term effect. The price will get dumped by people living at the US (as usual when any negative events take place) as they will try to get out from bitcoin investment with minimum loss. This dump will cause further more dumping as people around the world will sell their investment as they will start to fear about there investment. Then whales will jump in to buy btc at lower rate, thus slowly causing the price to recover.
BTC is a global currency. The price is not defined by one single country's action.

Yes, more or less. Some of the above posters seem to overestimate America, and even if their government declared it illegal, i doubt everyone would get rid of theirs. Its like when they ordered everyone to handle their gold...

Like you said, any price fluctuation caused by such wouldn't last long. Indeed not just whales, people from other countries will see a chance to buy cheap. You think everyone would blindly follow America in something like this? Actually America would be the one following China by going this route...

Bitcoin not only is global and not defined by one single country, its not controlled by any or all of them. Even if they banded together against Bitcoin, it would not be the end of it.

The Stateless/Bankless side of Bitcoin should not be underestimated. It was designed to survive State hostility, precisely this scenario. Satoshi probably thought all countries might go together against it, forcing it underground where it would keep working for decades until the fools realized illegalization wouldn't kill it and that many people are actually keeping secretly their savings in it.

[Swingle]

There are tons of business empire accepting Bitcoin in the state as means of transaction, thus having to put a ban on Bitcoin implies that such businesses will seize to exist and if not lose a large of profit within couple of weeks. Trump is a big time businessman and I doubt he would do anything if such that would jeopardize the business sector at large.

[lighpulsar07]

The consequences if trump made an executive order that bans cryptocurrency will be felt in US first all bitcoin start ups that already started in US will shut down and that will lead bitcoin price in the dip but i don't think that will affect bitcoin significantly since Europe and Asia are have most bitcoin start-ups anyway and the largest exchanges are outside of united states and besides cryptocurrency is decentralized people will just go tor or vpn networks just to buy bitcoin outside of the country. it will just like happen the banning of cryptocurrency in china the price of bitcoin dips and whales saw this opportunity to buy bitcoin at cheap price which made the bitcoin skyrocketed in epic bull run 2017.

[ttcsalam]

I think it will have little effect. However, it will not be a huge loss. Because there are so many web sites and organizations involved with it. It will not stop. Thousands of people and organizations are involved here.

[virasog]

This is unlikely, but Trump being Trump, anything is possible. So what would be the consequences of Trump via Executive Order

banning Bitcoin and Cryptocurrencies? A big Yawn? Ignored? A temporary dump in the price? A pump in the price?

I know it can't be killed by such, but what mischief in folks views here, would be a consequence of such an idiot attempt?

From this Tom Lee blurb:

https://news.u.today/news/fundstrats-tom-lee-suggests-bitcoin-could-be-banned-by-us-government-after-e-cigarettes

Again, just saying, Trump is all over the place, so wondering what folks think. Hopefully, this will just stay a 'thought experiment'

AGAIN...this is Trump making an 'attempt' to ban Bitcoin via Executive Order Only and the consequences to price, etc, above. Not saying he can do so.

Just the odds of him being dumb enough to try to ban Bitcoin and any backlash or fallout from the attempt. Feel free to post your views.

Take the Poll.

Brad

If this really happens, the most effected people by this orders will be the citizens of USA. There might be a slight dump in the bitcoin price but it will be temporary. Trump can only make bitcoin ban in his own country and not in the whole world. So for the rest of the world they can still use bitcoins. This is the biggest advantage of decentralized currency that the big nations have zero control over it.