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??
I'm sure that goverments will not be able to block all sites and hack wallets. The principle of decentralization protects us.
Despite the fact that many states are trying in every possible way to prohibit the crypto currency, they simply can not stop the interaction of citizens with the network.
Thus, to prohibit bitcoin is simply useless, since its code will correspond more quickly than the next ban on its use will be ready.
Even the most severe punishments and prohibitions, do not stop users, but only warm up their interest in the crypto currency.