What happens if most govt bans crypto?

[Ankith K Shetty]

Hi guys,

I have always thought about it.What are you thoughts

 

[Email Marketers]

I think they're buying it :=))

 

[Daddykins]

Honestly don’t think there’s any stopping it. Maybe ones like bitcoin since they’re public , but coins like XMR are anonymous.

They might make it harder to buy, but one country will always be able to buy. Binance has harsh KYC in US, but in other country you can just withdraw and deposit as you please. All it takes is a proxy

Right now I have more faith in crypto than I do USD long term.

 

[Makanake]

I will laugh hard But it won't happen to soon for sure.There is still money to be made

 

[R4v3nbl4ck]

Even if they ban crypto, how could they prevent people from trading them?
In my country some illegal sites are banned by the government, but everyone can access them by simply using Google DNS. We don't even have to use proxies or VPNs.
I imagine it would be the same thing if they banned crypto trading sites.

 

[Yuhuuuuuu]

People will use them still but they will never have this value.

 

[davids355]

It probably wouldn’t be a good thing. But in my experience digital transformation is unstoppable despite the best efforts of the critics. And that’s what I see crypto currency as; vehicle for the digital transformation of the financial sector.

 

[Fussganger]

It won't be that easy. For e.g. if the US decides to Ban it, that doesn't necessarily means others will follow. Infact countries like China might see it as an opportunity and start adopting it to get the upper hand, that'll put US in a bad position.

You can apply this scenario for all countries. Unless all countries decided to ban it altogether, this is never going to happen.

Why? They can't even decide on a climate strategy and this is for our survival.. bitcoin has nowhere near that level or urgency for anyone to jump the gun.

 

[juyopt]

It can only be regulated, it can't really be banned by any govt. People will always find a way to trade it on the internet. Bitcoin has come to stay!

 

[puterases]

btw is there a country already banned crypto?

 

[Therealdarkpegasus]

Thinking of banning cryptocurrency is a total waste of time. It would just make it harder to trade but people will still find a way peer to peer. Weed has been banned in several countries but people still buy and sell weed though.

 

[Deleted member 1333509]

a global revolution where the world's lawmakers end up swinging from trees.

 

[Evoxt]

They can never ban crypto, it is a peer to peer network. They literally have to shutdown the internet to stop crypto

 

[hdloader11]

I doubt they can ban it. If the restrictions get too strict, people will just use countries with laxer regulations. Kinda like with the offshore company incorporations, which they do in order to avoid taxes.

 

[blackbeans]

Govt bans would be a disaster for CENTRALIZED cryptos.... for DECENTRALIZED cryptos, life will go on since exchanges can also be decentralized

It would be like playing WHACKAMOLE

 

[Ankith K Shetty]

It won't be that easy. For e.g. if the US decides to Ban it, that doesn't necessarily means others will follow. Infact countries like China might see it as an opportunity and start adopting it to get the upper hand, that'll put US in a bad position.

You can apply this scenario for all countries. Unless all countries decided to ban it altogether, this is never going to happen.

Why? They can't even decide on a climate strategy and this is for our survival.. bitcoin has nowhere near that level or urgency for anyone to jump the gun.

Very impressive point.

 

[moonshine7000]

Government can ban all they like they can't stop it just like they can't stop torrents.