Quote from: BrewMaster on November 02, 2016, 03:09:32 PM

Quote from: plorph on November 02, 2016, 02:20:49 AM

Okay so, bitcoin is outright banned in some countries, so the banning of bitcoin is already a reality. The major government including Russia, China, and the USA (just to name a few) could also ban bitcoin and cryptocoins in general. My questions to you guys are: What do you think will happen to bitcoin? If any, what is your plan of action and what would you like to see from the community in terms of continuation and development? Bitcoin probably will never die but the banning of bitcoin could change the whole dynamics (let alone a temporary major price dip).

I'll give my thoughts first. I think bitcoin will grow and develop into what we want it to be regardless of the legal status. Fundamentally what bitcoin represents is anti-authoritarian and governments banning of it should not much of an impact fundamentally. Sure the price will suffer for at least a while although still climb "to the moon" probably, but as far as technical development and social spreading goes, I think that will continue. Unfortunately that could mean that it operates in the black market only for a while which would slow things down but I do think that would be a temporary affect. I am curious though if the governments could have a strong enough desire to destroy bitcoin or prevent it from growing past a certain point, that they could actually do that. So I wonder what you guys' thoughts are.

all these countries especially those big ones for example Japan are trying to adopt bitcoin so hard and they are so interested in bitcoin. i have even heard Japanese saying we want to make bitcoin an official currency so the banning will never happen.

I don't think that they'd be taking it that far, however they might definitely push for it to be more ubiquitous or whatever in their society while keeping it out of the "official" list.

Japan seems like a country who would accept it, but they don't seem like a country that would push it that far.