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Were such a ban to pass, it's essentially game over. It's analagous to banning the sale or transfer of gasoline cars.

Sure, you get to keep them, and you could refuse to register but:

If you ever drive it, you go to jail
If someone steals it, you have no recourse
If it wears out, you can't replace it
You can't get gas for it
Etc.

For guns:
If you ever use it for self defense, you go to jail
If someone steals it, you have no recourse
If they get busted, and say where they got it, you go to jail.
If you bury it in the backyard, you're just as deprived of it as f they took it
When it wears out, it's gone
When the magazines wear out, they're gone
When you die, it's gone or it goes illegally to your kin and the cycle begins anew