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??
If the government really banned the Bitcoins, we would continue to use paper money to buy and sell goods and buy gold, land and pearls. The most common is sending money to the bank. This requires you to share your personal information and be required to rely on the bank as well as the government.