Post
Topic
Board Bitcoin Discussion
Re: Effects of Banning Bitcoin ?
by
stark101
on 11/12/2016, 14:10:54 UTC
Although there is nothing that can stop a government or central bank from banning bitcoin but banning bitcoin is very difficult to enforce. Why? because bitcoin has no centre to attack, there is no single organization or person that controls Bitcoin, and theres no way for the users to stop their transactions by pay outing or sending each others bitcoins. But of course, it is also likely that a ban on bitcoin in a country can have a negative effect on adoption on the country.

That's total ban is the one that will make bitcoin stop to be used for a certain country. And that will make some effects in the economy of bitcoins, I'm thinking of the potential investors, if they intend to reason out of that banning of bitcoin for a country. Possibility that it will be also banned in other countries and they will think that their investments will be popped up like bubbles and will simply be gone, so they will pull out their investments.

Yes, banning bitcoin can make the country, the economy and the users in it get more affected. Why? Because to ban bitcoin, governments would have to ban all forms of communication. But theres a big possibility that government wont do that, because in my opinion it is the right to the people (users) to fight against banning it because the legality of bitcoins activities will depend to the users using it and what they do about it.