With all the buzz lately of governments cracking down on cryptocurrencies, there has been fear among people with regards to Bitcoin and altcoins. This is one of the many reasons why 2018 experienced a sharp decline in the value of the whole crypto market, leaving many wonder the outcome of a complete government crackdown towards Bitcoin and other cryptos in the future.
As such, what do you think will happen with Bitcoin if all the governments of the world ban it? Will it collapse after the massive crackdown on every single cryptocurrency? Or will it survive?
No matter how hard, actions taken by the government, but their strength cannot defeat the power of their people, especially the world community. Therefore I assume, as long as bitcoin's still widely used by the wider community, it seems that the collapse of bitcoin's unlikely to be realized, I think this's what makes bitcoin still exist and can survive until now, IMO.
I doubt. If the government makes bitcoin illegal, there surely will be repercussions when using it. And not many people would be willing to risk getting reprimanded over that. A collapse is highly possible. Though a strict crackdown is unlikely. Most governments don't see why such an innovation should be suppressed.