Post
Topic
Board Bitcoin Discussion
Re: What would happen if BTC was Banned?
by
1Referee
on 22/03/2017, 16:22:45 UTC
Bitcoin has helped cut the cost of transaction to a considerable level.If it is banned people will have to pay lot of extra money to move money.
If this was 2012/2013 I would agree with you, but in current times Bitcoin is more expensive than the majority of the payment services. Especially when it comes to the ratio of transaction value vs the included fee value. If you are familiar with PayPal, then it's obvious that Bitcoin is completely outruled when it comes to transacting instantly and free with family, friends, etc. PayPal is also free when it comes to buying goods. Nah man, Bitcoin severely lacks in that regard.

I assume many governments are now aware of benefits of bitcoin but due to various reasons they don't legalize it.
Governments have been well aware of Bitcoin right from the start, but they didn't seem to take it very serious at the beginning because Bitcoin was just a joke for them. Now Bitcoin is constantly growing larger, governments realize that something needs to be done, and that's exactly why you see them put all kinds of regulatings in place.