What if Government bans Bitcoins?

[bdamenaakter]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets?

[Kusuma]

Nobody knows the fate of bitcoin in the future. But I think the government can't break the bitcoin line unless it turns off the internet, but I don't think that will be done by the government.

[LogiC]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets?

They cannot do that in a forceful way but they have the authority to decide if the country advice to do it. But that will be way impossible, you think some government officials won't have any crypto? I have two colleagues working on a government sector. Guess what? They have more profitable coins than me. See how can they disapprove it when some people behind it earning from it. Only those who will oppose on bitcoin ate those who aren't open to embrace this kind of investment. Just my 2cent, I want to see them try and failed.

[rightway]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets?

If this will happen that the government will ban the use of bitcoin i think this is now the time that we sell all our crypto holdings because we can't monitor it, so must better to sell and divert our money to other investment.

[owmivmen]

Crypto enthusiasts are very high this year. every year crypto enthusiasts grow. it is very difficult to stop crypto unless crypto is considered very risky to use. good and bad news is very influential for crypto's future.

[yousufatik]

There are different governments and each of them has their own will or power on any decision that they will make. Bitcoin has already been banned in some countries and that is because of their existing government that treats bitcoin as a threat to them.my country is not banned bitcoin because they know how importent is bitcoin.

[Kadal Mesir]

Looking at the decentralized nature of crypto-currencies,Wonder if govt bans Bitcoins in future??Is it possible let's say by blocking all sites which relate to Bitcoin wallets/payments etc over the internet.In that case what would happen to our existing coins held in those wallets?

Crypto currency is the future technology, I think no one can refuse the technology. the Government cannt stop the crypto.

[Zsangx12]

China has also banned Bitcoin, but it is still growing in that country. Probably the ban will temporarily diminish but everything will be there.

[sijampang]

They cannot do it in a strong way but they have the authority to decide whether the country suggests doing it. But it is not possible.
My country does not prohibit bitcoin because they know how to import bitcoin.

[TERMINO]

I am 99% convinced that bitcoin cannot be banned all over the world due to this generation demands of technology which majority deals through digital.

[Bobcrypto]

I also think in the same direction with your thoughts. It is very clear that things are changing everyday and we have actually come to the time of cryptcurrency and the Blockchain technology.
Bitcoin actually brought the Blockchain technology and it gradually gaining world wide adoption by the day. In short, banning bitcoin will be an unthinkable idea to any government, i think Crypto has finally come stay.

[aji678]

Some people are fear government regulation could ruin it, but they should not be concerned about  . Any attempt control bitcoin simply won’t work. Beyond the difficulties presented by the decentralization of bitcoin itself, governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex.

[Morrower]

How do you think it's possible to find all crypto-related websites, apps, ICOs and everything?
It will cost so much money that it's not worthy for any government.
And no one could turn-off the internet all over the world. We're not living in a North Korea.

[Seerge]

Before the government actually banned Bitcoin, of course the government made an announcement first. and at that time we can sell all the tokens and coins that we have and we store in the wallet. later on we cannot sell it because the trading site is blocked by the government! but actually even though the government is blocking Cryptocurrency sites, we can still open them using vpn.

[Jaguar]

Government will banned bitcoin if there are thread regarding economic drastic falls and if it is not good for the people's lives. Anyway, even  government banned bitcoin it will not die.