What If There Is A Ban

[Crypto Library]

The ban definitely won't happen because they have realized that the ban doesn't work and doesn't even benefit them, countries that ban bitcoin not only don't stop people from using bitcoin, they also lose out on huge taxes. But strict regulations will also be a problem for us, we will no longer be free, and our privacy will be violated by those regulations. Many people think that regulation will be good for the market, but I am not sure about that, there is a lot to face when there is regulation.

Well said , Countries that do not legalize bitcoin are losing a large portion of their tax revenue.  Specially if we talk about my country cryptocurrency has not been legalized yet but recently a news came out that about 4million people use cryptocurrency in our country.
And these four million people are using it as well as they are, in my case a big part of my income is from cryptocurrency but my advantage here is that I don't have to pay any tax. Thus the government is losing their revenue, our information state minister Allready said and that we should know or be efficient about the way to control it and not declare it illegal.

[tiCeR]

The ban definitely won't happen because they have realized that the ban doesn't work and doesn't even benefit them, countries that ban bitcoin not only don't stop people from using bitcoin, they also lose out on huge taxes. But strict regulations will also be a problem for us, we will no longer be free, and our privacy will be violated by those regulations. Many people think that regulation will be good for the market, but I am not sure about that, there is a lot to face when there is regulation.

Well said , Countries that do not legalize bitcoin are losing a large portion of their tax revenue.  Specially if we talk about my country cryptocurrency has not been legalized yet but recently a news came out that about 4million people use cryptocurrency in our country.
And these four million people are using it as well as they are, in my case a big part of my income is from cryptocurrency but my advantage here is that I don't have to pay any tax. Thus the government is losing their revenue, our information state minister Allready said and that we should know or be efficient about the way to control it and not declare it illegal.

I don't really understand your statement and you to elaborate. You say that you don't have to pay tax. Does that mean that there is a law defining tax requirements for cryptocurrencies? Or is there no law at all and that is why you think you don't have to pay tax? I know a lot of countries where it took quite some time to come up with tax guidelines but many of those countries have neither declared Bitcoin illegal nor legal, yet tax laws apply and it works. It is chaos here and there but it works.

If a clear tax exemption has been announced in your country, isn't that a first step to "legalization" in the grand scheme of things?

[milewilda]

Bans cannot just be put all of a sudden .and with bitcoin and other crypto currencies bringing a bright future to the digital world the government will definitely put these into consideration therefore the chances of a ban universally happening is approximately <1

We know that each government does have their own takings and perceptions towards Bitcoin or crypto.They could impose bans and restrictions if they wanted to but we know that there are
places which do really reconsider out its existence and do make see of its benefits and usage or actual utility which turns out not to be bad after all.For those people who do reside
on countries which does have complete ban on crypto then they could still make some underground transactions without compromising their identity and thats
the beauty of it.

[noormcs5]

The ban definitely won't happen because they have realized that the ban doesn't work and doesn't even benefit them, countries that ban bitcoin not only don't stop people from using bitcoin, they also lose out on huge taxes. But strict regulations will also be a problem for us, we will no longer be free, and our privacy will be violated by those regulations. Many people think that regulation will be good for the market, but I am not sure about that, there is a lot to face when there is regulation.

Well said , Countries that do not legalize bitcoin are losing a large portion of their tax revenue.  Specially if we talk about my country cryptocurrency has not been legalized yet but recently a news came out that about 4million people use cryptocurrency in our country.
And these four million people are using it as well as they are, in my case a big part of my income is from cryptocurrency but my advantage here is that I don't have to pay any tax. Thus the government is losing their revenue, our information state minister Allready said and that we should know or be efficient about the way to control it and not declare it illegal.

So is it good for you that bitcoin is not legal in your country and it saves you from paying taxes?

By the way, if the government wants they can have a crackdown against these four million people as they are using bitcoin illegally. They can seize all their crypto in this case. It is better to pay taxes than to get lose all of your crypto holdings.

[tread93]

We all agree we're living in a crazy world and what's far worse is that it is managed by a bunch of clowns..
So, let's think wildly, one day US were to further increase the censorship just like some of the other countries in the world, they ban bitcoin, they ban VPN, they pass legislation for those who mine/trade/spend btc will be sent to jail.
(Let's not say it's not going to happen. It can! You never know just like you would never have known that there's a war in 2022.)

Other countries start to follow.

Where will you be and what kind of life will it be and how is it going to impact yours?

You know that’s really like the modern day an on the gold standard, which then it was a lot easier to hide or send bags of gold coins or physically take them to a bank account in Switzerland for safe keeping. Honestly though I think that it would be a lot easier to move these funds, so long as you have a plan B. If you don’t then I suggest you put some thought into that. If I told you my plan I’d have to Jill you 😉

[Sebas.tian]

Where will you be and what kind of life will it be and how is it going to impact yours?

Well, I will be living well if such thing happen because I have other business that is bringing me income daily which will help me to do what will make my business to improve more in the environment. Since, am not investing all my money in Bitcoin, if such thing happen many people will cope well because many have used what they achieved from Bitcoin to established many business that is bringing them steady profits. Now that the whole world know how important Bitcoin is to the world to eliminate high inflation and bring low deflation which will be difficult for Bitcoin to be ban from the whole world.

[kelechi]

We all agree we're living in a crazy world and what's far worse is that it is managed by a bunch of clowns..
So, let's think wildly, one day US were to further increase the censorship just like some of the other countries in the world, they ban bitcoin, they ban VPN, they pass legislation for those who mine/trade/spend btc will be sent to jail.
(Let's not say it's not going to happen. It can! You never know just like you would never have known that there's a war in 2022.)

Other countries start to follow.

Where will you be and what kind of life will it be and how is it going to impact yours?

I'm ready if it would be like that. Or just move some place which accept it

[jokers10]

I have no ideas that can be possible, because i taught that with the help of VPN weather the cut off your internet or not you can have access to any website, because the ip address the country is not long been display in the server. Many people i know have experience ban on internet and their internet was restricted through the ip of the system used but with VPN with another another address it happens to restore the internet.

Internet is not virtual in reality, it is based on servers and communication lines (cables) between them. If a ban is based on a program decision only then VPN can usually help, but if you don't have a cable connected to Internet no VPN will help because you need some physical connection. If some intranet has no connection to Internet then no VPN will work as no data of any kind can be transferred between not connected intranet and Internet. The same as you can't call your friend in another city if you have no kind of phone.

[posi]

Where will you be and what kind of life will it be and how is it going to impact yours?

Well, I will be living well if such thing happen because I have other business that is bringing me income daily which will help me to do what will make my business to improve more in the environment. Since, am not investing all my money in Bitcoin, if such thing happen many people will cope well because many have used what they achieved from Bitcoin to established many business that is bringing them steady profits. Now that the whole world know how important Bitcoin is to the world to eliminate high inflation and bring low deflation which will be difficult for Bitcoin to be ban from the whole world.

Yes, bitcoin is not our only source of income, bitcoin is just one of our side incomes, so if that happens, we will suffer, but it won't be too serious.
Bitcoin has been around for 14 years, but people have only invested in it in recent years, which means before that, we also lived well without bitcoin. So without it wouldn't be a big problem. But I also believe that banning it is not going to happen, instead, we are seeing that its adoption is increasing every day.

[nullama]

~snip~
Internet is not virtual in reality, it is based on servers and communication lines (cables) between them. If a ban is based on a program decision only then VPN can usually help, but if you don't have a cable connected to Internet no VPN will help because you need some physical connection. If some intranet has no connection to Internet then no VPN will work as no data of any kind can be transferred between not connected intranet and Internet. The same as you can't call your friend in another city if you have no kind of phone.

You can have wireless communications.

You can even transmit Bitcoin through satellite: https://blockstream.com/satellite

[KennyR]

Where will you be and what kind of life will it be and how is it going to impact yours?

Well, I will be living well if such thing happen because I have other business that is bringing me income daily which will help me to do what will make my business to improve more in the environment. Since, am not investing all my money in Bitcoin, if such thing happen many people will cope well because many have used what they achieved from Bitcoin to established many business that is bringing them steady profits. Now that the whole world know how important Bitcoin is to the world to eliminate high inflation and bring low deflation which will be difficult for Bitcoin to be ban from the whole world.

Yes, bitcoin is not our only source of income, bitcoin is just one of our side incomes, so if that happens, we will suffer, but it won't be too serious.
Bitcoin has been around for 14 years, but people have only invested in it in recent years, which means before that, we also lived well without bitcoin. So without it wouldn't be a big problem. But I also believe that banning it is not going to happen, instead, we are seeing that its adoption is increasing every day.

Survival without bitcoin is possible, what about all the investment we've made over bitcoin through the years. Always there'll be a solution and we don't experience such scenario with bitcoin. Complete ban on bitcoin isn't possible and if such thing is possible long back itself countries would've tried it.

With time the market is getting regulated and the acceptance level is high. So, we can expect positive things to happen relative to bitcoin than something negative. Few countries have given it utmost importance to improve their economy which itself enough to describe it will be used for long.

[jokers10]

You can have wireless communications.

You can even transmit Bitcoin through satellite: https://blockstream.com/satellite

If it is prohibited in entire country it will be really hard to hide a satellite dish with data sending function. And all other wireless ways of connecting through Internet use the same trunk cables which can be cut off by government. We know that there are mostly no users from North Korea who have such a problem. You can try to find a solution but total majority will have no such option.

[Tony116]

Survival without bitcoin is possible, what about all the investment we've made over bitcoin through the years.

Don't forget our investment mantra, no matter how good bitcoin is, invest only what you can lose and diversify your portfolio. It is not a wise decision to depend solely on bitcoin, never put your eggs in one basket.

Always there'll be a solution and we don't experience such scenario with bitcoin. Complete ban on bitcoin isn't possible and if such thing is possible long back itself countries would've tried it.

With time the market is getting regulated and the acceptance level is high. So, we can expect positive things to happen relative to bitcoin than something negative. Few countries have given it utmost importance to improve their economy which itself enough to describe it will be used for long.

A complete ban won't happen as there will be countries that will see the benefits of bitcoin, but the government's not banning bitcoin doesn't mean they can't, they see that banning is not in their favour. One country cannot completely ban bitcoin, but if many countries ban bitcoin, it will be a serious problem.

[yazher]

If there will be a ban or some incident like that will gonna happen in our country, then that would be the worse thing will gonna happen to us because we are used to trading crypto right now. not only me but also my fellow countrymen who are taking their daily trading into their real job every day. I think I will just gonna simply convert all my crypto assets into agricultural wealth because I can't any longer use them for business and probably will gonna just retired and live my life on my farm if ever I had a chance to multiply my profits these coming years.

[posi]

Where will you be and what kind of life will it be and how is it going to impact yours?

Well, I will be living well if such thing happen because I have other business that is bringing me income daily which will help me to do what will make my business to improve more in the environment. Since, am not investing all my money in Bitcoin, if such thing happen many people will cope well because many have used what they achieved from Bitcoin to established many business that is bringing them steady profits. Now that the whole world know how important Bitcoin is to the world to eliminate high inflation and bring low deflation which will be difficult for Bitcoin to be ban from the whole world.

Yes, bitcoin is not our only source of income, bitcoin is just one of our side incomes, so if that happens, we will suffer, but it won't be too serious.
Bitcoin has been around for 14 years, but people have only invested in it in recent years, which means before that, we also lived well without bitcoin. So without it wouldn't be a big problem. But I also believe that banning it is not going to happen, instead, we are seeing that its adoption is increasing every day.

Survival without bitcoin is possible, what about all the investment we've made over bitcoin through the years. Always there'll be a solution and we don't experience such scenario with bitcoin. Complete ban on bitcoin isn't possible and if such thing is possible long back itself countries would've tried it.

With time the market is getting regulated and the acceptance level is high. So, we can expect positive things to happen relative to bitcoin than something negative. Few countries have given it utmost importance to improve their economy which itself enough to describe it will be used for long.

It looks like you're investing in bitcoin with money you can't lose. Even if bitcoin is not banned by governments, it still has other risks, we all know that the future of bitcoin is still a question mark. There is no guarantee or certainty with bitcoin.
We are all investors in bitcoin, and bitcoin gives huge profits, so no one wants bad things to happen. But as an investment, there is always risk, so it's important to have a backup plan should that happen.

[xSkylarx]

The ban definitely won't happen because they have realized that the ban doesn't work and doesn't even benefit them, countries that ban bitcoin not only don't stop people from using bitcoin, they also lose out on huge taxes. But strict regulations will also be a problem for us, we will no longer be free, and our privacy will be violated by those regulations. Many people think that regulation will be good for the market, but I am not sure about that, there is a lot to face when there is regulation.

Well said , Countries that do not legalize bitcoin are losing a large portion of their tax revenue.  Specially if we talk about my country cryptocurrency has not been legalized yet but recently a news came out that about 4million people use cryptocurrency in our country.
And these four million people are using it as well as they are, in my case a big part of my income is from cryptocurrency but my advantage here is that I don't have to pay any tax. Thus the government is losing their revenue, our information state minister Allready said and that we should know or be efficient about the way to control it and not declare it illegal.

So is it good for you that bitcoin is not legal in your country and it saves you from paying taxes?

By the way, if the government wants they can have a crackdown against these four million people as they are using bitcoin illegally. They can seize all their crypto in this case. It is better to pay taxes than to get lose all of your crypto holdings.

They can, but it will take a lot of work to catch those 4 million people and force them to pay taxes. When it comes to taxes, most of the government is tracking down those rich or big people that aren't paying taxes or evading them, as they need to pay a lot. That is why you are not shocked when Manny Pacquiao wins his boxing match; the tax department in the country is reminding him to pay the tax as he earns a huge amount. I know that paying taxes is big and also sometimes time consuming, but it would be best to pay it than have trouble in the future.

[Dickiy]

Where will you be and what kind of life will it be and how is it going to impact yours?

If you mean fixated on the US and if in the US bitcoin is banned I am sure that I will not be affected by that because I am not a US citizen and the main thing is that my country regulates bitcoin perfectly even though not with the utility of bitcoin as a currency but as a commodity but that's good enough in my opinion.
Bitcoin was not created for America and any country can use it and develop it, bitcoin will live in any country that accepts it.
But if my country bans it too, maybe I will focus on my business.

[AnonBitCoiner]

bitcoin helps in the improvement of economy of numerous individuals and If it unfortunately banned then those who have made investment in it will face huge loss and due to bitcoin banned all other coins will also become useless as everyone has greater believe on bitcoin in contrast with others.

If bitcoins banned then users and holders of bitcoin will find an alternative way to generate passive income. In most countries bitcoin investment and trading in crypto is banned however it places negative impact on cash percentage of users because users prefer investment in Bitcoin rather than any other means of getting income.

[panganib999]

We all agree we're living in a crazy world and what's far worse is that it is managed by a bunch of clowns..
So, let's think wildly, one day US were to further increase the censorship just like some of the other countries in the world, they ban bitcoin, they ban VPN, they pass legislation for those who mine/trade/spend btc will be sent to jail.
(Let's not say it's not going to happen. It can! You never know just like you would never have known that there's a war in 2022.)

Other countries start to follow.

Where will you be and what kind of life will it be and how is it going to impact yours?

America's loss really. A lot of countries in the orient are vying to become the financial capital of the planet. Hong Kong just recently made grounds over the internet with their new legislation imposing better laws and regulations for cryptocurrencies and operations that involve such, likely just to piss of China and spit at their face but inevitably this cooks great news for the cryptocurrency world. So, if they do ban bitcoin in the USA, that doesn't necessarily mean bitcoin is dead. Yes as it stands today USA is pretty much its de facto biggest contributor but given enough time and traction the whole world will catch up with US, especially now that they are losing their grip on some of the countries they are pressing against.

[RealMalatesta]

Survival without bitcoin is possible, what about all the investment we've made over bitcoin through the years. Always there'll be a solution and we don't experience such scenario with bitcoin. Complete ban on bitcoin isn't possible and if such thing is possible long back itself countries would've tried it.

With time the market is getting regulated and the acceptance level is high. So, we can expect positive things to happen relative to bitcoin than something negative. Few countries have given it utmost importance to improve their economy which itself enough to describe it will be used for long.

The funny thing is, there are governments who already regulated and check on bitcoin as something that people could invest into, and I do not mean just El Salvador type small nations, I mean like literally UK and USA and France and Germany, these are all huge nations and they are doing what they can to help people with it. On the other hand, we have topics like this who talk about cutting the whole internet infrastructure like North Korea suddenly.

Why would anyone ever imagine that we would go from what we are right now, which is supportive, to suddenly being something so dark? That's not going to happen, stop considering the worst possible thing that could ever happen.