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??
The Bitcoin market is very dynamic and sensitive to the information. If the government prohibits Bitcoin, i think it will affect Bitcoin prices. Bitcoin will cut prices for some time but will increase by Bitcoin is too familiar with the news of the government banned. I think we do not need to worry too much about this because it is just a limitation of influence and can not be banned for individual transactions. And Bitcoin is the trend of the world so there will be nothing to stop it.