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??
You can still use coins in your wallet, but surely you will be tracked directly by the local government if the government has banned bitcoin in your country. But depends on the government too. Do they care about people who still use crypto money when they know that the crypto currency has been banned or not.