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??
A lot of countries banned BTC already. However, there are thousands of ways to utilize BTC even with your government banning it. That's the main reason of BTC's existence, it is governed by no one.